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Economy
Indonesia’s economy to grow by 5.2% in 2022: World Bank
Jakarta: The World Bank has estimated that Indonesia's economy would grow by 3.7 per cent in 2021 and by 5.2 per cent in 2022, if there would be no other severe waves of the Covid-19 pandemic and the country's vaccination rate continues to…
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Bank of England raises interest rate to tackle rising inflation
London: The Bank of England has raised the interest rate for the first time in more than three years amid surging inflation after cutting rate to record low during the Covid-19 pandemic.
In a statement on Thursday, the bank said that its…
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German carmaker Audi increases investments in electric mobility
Berlin: German carmaker Audi has said it plans to invest around 18 billion euros ($20.4 billion) for electrification and hybridization during the next five years.
Audi increased total investments in research and development as well as…
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Amazon warehouse policies have put workers at risk: Report
San Francisco: As e-commerce giant Amazon faces a US government's probe into its warehouse collapse in the state of Illinois that left six people dead, workers at the facility have told The Intercept that they received almost no emergency…
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Qantas charts economic recovery
Canberra: Australian flag carrier Qantas on Thursday posted its end-of-year balance sheets showing that the airline is poised to climb out of debt as demand for travel picks up in the second half of 2022.
The company posted A$5.65…
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IPO-bound Ola raises $500 mn, to accelerate future mobility
Bengaluru: IPO-bound mobility platform Ola on Thursday said it has raised $500 million via a Term Loan B (TLB) from international institutional investors.
According to the company, the proposed loan issuance received a staggering…
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World Bank unveils replenishment of IDA to back poorest nations
Washington: The World Bank has announced a $93 billion replenishment package of the International Development Association (IDA) to help the poorest countries respond to the raging Covid-19 crisis and boost economic growth.
The World…
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Paytm shares slump over 10% intra-day as lock-in period for anchor investors end
New Delhi: Shares of recently-listed One97 Communications-owned Paytm slumped over 10 per cent during the intra-day trade on Wednesday as the mandatory one-month lock-in period for anchor investors ended.
Anchor investors are those who…
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Indian steel prices to fall by 10%-15% in 2022
New Delhi: Indian steel prices will soften by 10 to 15 per cent next year as domestic and international steel spreads narrow. Supply constraints will ease due to stronger Indian crude steel production, with more material directed towards…
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Youngest healthtech unicorn Pristyn Care raises $96 mn
New Delhi: Healthtech startup Pristyn Care on Wednesday announced it has raised $96 million in its Series E round, doubling its valuation in the last seven months to $1.4 billion and becoming a unicorn.
The latest round was led by…
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