Palm oil imports could fall to 11-yr low: Report
India's palm oil imports could fall 19% to the lowest level in 11-years as soyoil, now cheaper, takes more market share because of Indonesia's curbs on palm oil exports and New Delhi's move to allow duty-free imports of soyoil, dealers said.
Digit Insurance targets $5 billion in IPO valuation: Report
Digit Insurance, backed by Canadian billionaire Prem Watsa's Fairfax Group, is considering raising about $500 million in an initial public offering at a valuation of $4.5 billion to $5 billion, three people aware of the matter told Reuters. Founded in 2017, Digit is trying to capitalise on India's under-penetrated general insurance market along with users' need for a better customer experience.
Spicejet faces ransomware attack; flights impacted
Hundreds of SpiceJet airlines passengers were stranded at various airports due to a ransomware attack that impacted the morning flight departures on Wednesday. "Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT team has contained and rectified the situation," SpiceJet tweeted.
Indian stocks set for first annual decline in seven years: Reuters poll
India's equity markets will mark their first annual decline in seven years in 2022 as higher interest rates and weakening growth prospects reduce the chances of a quick rebound from this year's already sharp drop, a Reuters poll showed.
Elon Musk drops out of $200 billion club again as Tesla tumbles
Elon Musk, the world’s richest person, saw his fortune drop Tuesday by 5.4% to $192.7 billion as shares of Tesla Inc. slid almost 7%. While Musk’s wealth is the lowest it’s been since August 26, the Tesla co-founder is still easily the richest of the handful of people worth at least $100 billion, according to the Bloomberg Billionaires Index.