Month: December 2022

Russian missiles strike Kyiv on New Year’s Eve, at least one

  • Norma
  • December 31, 2022
  • 0

Russia carried out its second major round of missile attacks on Ukraine in three days on Saturday, Ukrainian officials said, with explosions reported throughout the country on New Year’s Eve.

Kyiv Mayor Vitali Klitschko said at least one person had been killed and eight wounded after a series of explosions in the capital. Reuters correspondents reported hearing 10 loud blasts in the city.

The mayor said one of those wounded by the blasts was a Japanese journalist who had been taken to hospital.

A hotel just south of Kyiv’s city centre was hit and a residential building in another district was damaged, according to the city administration.

The governor of the surrounding Kyiv region, Oleksiy Kuleba, had warned shortly beforehand of a possible incoming missile attack, and said air defences in the region were engaging targets.

“The terrorist country launched several waves of missiles. They are wishing us a happy New Year. But we will persevere,” Kuleba wrote on Telegram in a separate post after explosions shook the capital.

NATIONWIDE BLASTS

Other cities across Ukraine also came under fire. In the southern region of Mykolaiv, local governor Vitaliy Kim said on television that six people had been wounded.

In a

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Can Shilpa Shetty do with Mamaearth what Katrina Kaif, Alia

  • Norma
  • December 31, 2022
  • 0

When Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering, the name that made the most headlines is Bollywood actor Shilpa Shetty. The Gurugram-based company said the popular actor is one of its early investors and is looking to exit the company when it gets publicly listed.

As per the draft red herring prospectus, Shetty invested Rs 6.7 crore in the company and has acquired over 16 lakh shares at Rs 41.86 apiece. Shetty first invested in Mamaearth in 2018, when the startup used to sell only babycare products. It remains to be seen how much she will make from her investment when the company gets listed. The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an offer-for-sale (OFS) component of 4,68,19,635 equity shares by promoters, investors, and other selling shareholders.

Apart from the Baazigar actor, those offering shares in the OFS include promoters — Varun Alagh and Ghazal Alagh — and investors like Fireside Ventures Fund, Sofina, Stellaris, Kunal Bansal and Rohit Bansal, Rishabh Harsh Mariwala of FMCG firm Marico.

The Gurugram-based beauty and

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Rural demand witnesses some respite in the last Rural demand

  • Norma
  • December 31, 2022
  • 0






Fast-moving consumer goods companies have started to see some respite in rural demand in the last two weeks which has otherwise been under stress for the last 18 months.


While it is too early to say that rural demand has revived but this is the first time demand for consumer goods have witnessed green shoots.


“The first fifteen days of December were slow, but we have witnessed a pick-up in consumption in the last fifteen days of the month,” said Angshu Mallick, CEO of Adani Wilmar, told Business Standard.


He explained that farmers are now getting money in their hands. Also, the upcoming wedding season in January has caused demand to improve as caterers (part of institutional sales) have also started to order. He expects the January-March quarter to witness better demand.


Parle Products which was not really impacted by weak rural demand has also seen higher growth in rural in the last one month.


“Rural demand was growing in the range of 3-4 per cent and is now in the range of 5-6 per cent in the last month,” Mayank Shah, senior category

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Chip: TSMC starts next-gen mass production as world fights

  • Norma
  • December 31, 2022
  • 0

Taiwan Semiconductor Manufacturing Co. kicked off mass production of next-generation chips Thursday, ensuring the island remains the linchpin of a critical technology fought over by governments from Washington to Beijing.

The primary chipmaker for Apple Inc. began bulk production of advanced 3-nanometer chips at its Tainan campus in southern Taiwan. In doing so, TSMC follows Samsung Electronics Co. in gearing up on production of a technology that’s expected to control the next lineup of cutting-edge devices from iPhones to internet servers to supercomputers.

TSMC is moving ahead on the next generation of chipmaking as companies with less clout smart from cratering demand amid fears of recession and uncertainty over the impact of US sanctions on China’s economy. TSMC this year reduced its capital spending plans by at least 10% to $36 billion, and some analysts warn it may further delay expenditure on expansion in 2023.

On Thursday, TSMC Chairman Mark Liu expressed confidence in the longer-term outlook for chip demand and promised to build future generations of 2nm chips in the Taiwanese cities of Hsinchu and Taichung.

“The semiconductor industry will grow rapidly over the next decade, and Taiwan will surely play an even more critical role in the global

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rbi: RBI may consider ARCs’ plea to do away with background

  • Norma
  • December 31, 2022
  • 0

After multiple representations from asset reconstruction companies (ARCs), the central bank is likely to do away with its directive on conducting background checks of defaulting retail borrowers by independent experts, two sources familiar with the development said.

Banks had put a halt to the sale of retail loans to ARCs after this directive from RBI.

“The RBI has called for extensive data from ARCs on sale of retail loans; we believe a reprieve is on the way,” said the CEO of a large ARC. “Our request to the regulator is that the entire sale of retail bad loans be taken out of this background-check requirement. Another request we have made is that these rules be not applicable to loans up to ’10 crore.”

In October, the RBI had released guidelines for the ARC sector that mandated them to carry out background checks of borrowers by an independent advisory committee (IAC). As per the rules, the IAC would comprise professionals having technical, financial, and legal expertise.

The advisory committee is required to study the financial strength of a borrower before suggesting a settlement. Also, at least two independent directors will have to study the recommendations and give their verdict whether that’s

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shinde: Maha CM Shinde says his govt will last full term,

  • Norma
  • December 30, 2022
  • 0

Maharashtra Chief Minister Eknath Shinde on Friday asserted that the alliance of his Balasahebanchi Shiv Sena and the Bharatiya Janata Party (BJP) will complete its tenure and return to power in the next elections. In his reply to the opposition’s ‘last week resolution’ in the Legislative Assembly on the last day of the state legislature’s winter session, he also took swipes at Shiv Sena leader Uddhav Thackeray.

People have responded positively to his government’s performance and gave a landslide victory in the recent gram panchayat elections to the ruling alliance, Shinde said. “Our government will complete the term and come back to power with a thumping majority after the next elections,” he said. The opposition had no moral right to target him on corruption as the previous Maha Vikas Aghadi (MVA) government did not enact the Lokayukta Act which his government did and also brought the office of chief minister in its ambit, Shinde said. Shinde, whose rebellion split the Shiv Sena and toppled the Uddhav Thackeray-led MVA government in June this year, launched a scathing attack on Thackeray. “I have been attacked and targeted all these months. Do not mistake my silence for helplessness…. I know all inside things,”

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