fin.know_basic

07/03/2022
Indian rupee hits its lowest level against the US dollar

The Indian rupee hit its lowest level against the US dollar as it opened at 76.96 on Monday compared to a close of ₹76.17 on Friday. The rupee's previous low was at ₹76.91 in April 2020. The sharp fall comes amid soaring oil prices following the Russia-Ukraine conflict and continued outflows of foreign portfolio money.

07/03/2022
McDonald's sued for $900 million by US startup over false advertising claims

US-based Kytch, which sells devices to fix broken ice cream machines, has sued McDonald's for $900 million alleging false advertising and tortious interference with its business. As per Kytch, McDonald's told its franchisees that the startup's devices violated their machines' warranties and could lead to "serious human injury". Kytch denied both the claims and accused McDonald's of defamation.

06/03/2022
GST Council may raise lowest tax slab from 5% to 8%: Reports

The GST Council may, in its next meeting, raise the lowest tax slab from 5% to 8% and prune the GST exemption list to increase revenues, Moneycontrol reported. A state finance ministers' panel will submit its report by March-end to the Council. The panel may also recommend a three-tier GST structure, with rates at 8%, 18% and 28%.
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06/003/2022
Visa, Mastercard suspend all operations in Russia over invasion of Ukraine

US payments firms Visa and Mastercard have announced that they will suspend all operations in Russia over the invasion of Ukraine. Both the companies said that cards issued abroad will no longer work at Russian ATMs and cards issued by Russian banks will not be supported by their networks. "We don't take this decision lightly," said Mastercard in its statement.

06/03/2022 follow
Kayleigh 21:39

Hello Valeriia. I have booked with you but obviously will not be coming, I hope that the money will help you.

Valeriia 22:13

Hello Kayleigh!!!! ♥♥♥♥

AA I'm really thankful for your support to me and for all Ukraine! I wish, I hope, I believe this will finish soon, and all people can travel to Ukraine to see our beautiful country Thank You so much!!! AAAA

Hundreds book Airbnbs in Ukraine to send money to citizens amid war

Hundreds of people are booking Airbnb rentals in Ukraine to offer monetary assistance to local families affected by war. This came after US-based influencer Tommy Marcus proposed the idea of paying for Ukrainian Airbnbs to financially support their hosts. Marcus shared some replies from Ukrainian hosts, one of which said, "Hope we'll win and stop this horror."

03/03/2022
Roman Abramovich Confirms He
Will Sell Chelsea
With the threat of financial sanctions

looming, Chelsea's Russian owner Roman Abramovich confirmed Wednesday he is trying to sell the Premier League club he turned into an elite trophy-winning machine with his lavish investment.
"In the current situation, I have therefore taken the decision to sell the club, as I believe this is in the best interest of the club, the fans, the employees, as well as the club's sponsors and partners," Abramovich said in a statement.
Abramovich said he will not be asking to be repaid 1.5 billion pounds ($2 billion) in loans he has granted the club during 19 years of injecting cash to elevate the team into one of the most successful in Europe. The Blues won the Club World Cup for the first time last month - in front of Abramovich in Abu Dhabi - after securing a second Champions League title last year.

"I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated," he said. "The foundation will be for the benefit of all victims of the war in Ukraine."
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01/03/2022
After Amul, Gowardhan milk prices increased by 2 per litre

A day after Amul increased milk prices by ₹2 per litre, Parag Milk Foods has raised the price of Gowardhan brand of cow milk by *2 per litre with immediate effect. "This price hike is being done after almost 3 years due to rise in costs of energy, packaging, logistics and cattle feed," Chairman Devendra Shah said.

01/03/2022
Amul increases price for milk across India by Rs2 per litre

Amul on Monday said it is increasing the price for its milk across India by ₹2 per litre. The increased price of Amul milk will be applicable from tomorrow, March 1. Amul said that it is increasing the price of milk due to an increase in the prices of energy, packaging, transportation cost and animal feed.

01/03/2022
Microsoft CEO Satya Nadella's son Zain dies aged 26

Microsoft has said that son of Chief Executive Officer Satya Nadella, Zain, died on Monday morning. He was 26 years old and had been born with cerebral palsy. The software maker told its executive staff to hold the family in their thoughts and prayers while giving them space to grieve privately.

01/03/2022
India to send humanitarian aid including medicines to Ukraine

India will send humanitarian aid including medicines to Ukraine, the Ministry of External Affairs spokesperson Arindam Bagchi said on Monday. This came after India abstained from voting in the UNSC for a rare special emergency session of the UN General Assembly on the Russia-Ukraine conflict. India had earlier abstained from voting on a resolution condemning Russia.

01/03/2022
Russia closes its airspace to 36 countries including UK and Germany

Russia on Monday barred airlines from 36 countries including Britain, Germany, Spain, Italy and Canada from using Russian airspace. Russia's state aviation agency said that planes from these countries could only enter Russia's airspace with special permission. The move follows a decision by the EU and Canada over the weekend to close their skies to the Russian planes.

01/03/2022
Google Maps stops showing Ukraine's live traffic worldwide temporarily

Google has globally disabled the Google Maps traffic layer and live information on how busy places like stores and restaurants are in Ukraine. Google said the decision was taken for the safety of local communities in the country, after consulting with sources including regional authorities. Live traffic information remains available to drivers using its turn-by-turn navigation features in Ukraine.

01/03/2022
Airbnb to house up to 1 lakh Ukrainian refugees for free, says CEO

Airbnb will provide free short-term housing for up to 1 lakh refugees fleeing Ukraine amid Russian invasion, the startup's CEO Brian Chesky announced on Twitter. Airbnb's senior executives have written to the governments of Poland, Romania, Germany and Hungary offering their support for housing refugees. The housing will be funded by Airbnb, donors and hosts on the platform, Chesky said.

27/02/2022
$7.5 mn in crypto donations raised by Ukrainian govt within 24 hrs

The government of Ukraine is seeking donations in cryptocurrencies following the Russian invasion. The official Twitter accounts of the Ukrainian government and the country's Vice Prime Minister Mykhailo Fedorov provided details of crypto wallet addresses for donations on Saturday. These addresses received $7.5 million in donations within 24 hours, blockchain analysis firm Elliptic said.
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27/02/2022
Starlink service now active in Ukraine: Musk after Ukrainian Vice PM's appeal amid war

Responding to a tweet by Ukraine's Vice PM Mykhailo Fedorov who asked him to provide Ukraine with Starlink stations, Elon Musk wrote, "Starlink service is now active in Ukraine... More terminals en route." "While you try to colonise Mars... Russia try to occupy Ukraine....We ask you to provide Ukraine with Starlink stations and to address sane Russians to stand," Fedorov had tweeted.

27/02/2022
Reliance takes control of Future Retail stores, offers jobs to staff: Report

Reliance Industries is taking over the operation of Future Retail (FRL) stores and is offering jobs to the company's employees, Reuters reported. The development comes amid FRL's ongoing legal battle with Amazon over sale of its retail assets to Reliance. Reliance has reportedly decided to rebrand about 200 stores that would otherwise be closed as FRL failed to make payments.

27/02/2022
2 Air India flights carrying 490 Indians evacuated from Ukraine land in Delhi

Air India's second evacuation flight from Romanian capital Bucharest carrying 250 Indians, who were evacuated from Ukraine amid Russia's invasion, landed at Delhi airport around 2.45 am on Sunday, officials said. A few hours after the second flight, Air India's third evacuation flight from Hungarian capital Budapest carrying 240 Indians, who were also stranded in Ukraine, reached Delhi.

26/02/2022
Zomato, Paytm, Nykaa to be included in NIFTY Next 50 index

Zomato, Paytm and Nykaa will be included in the NIFTY Next 50 index from March 31, 2022, the National Stock Exchange of India (NSE) has announced. Indian Oil Corporation, Mindtree and SRF Limited will also be included in the index. The index represents the performance of 50 stocks that rank after the top 50 stocks (NIFTY 50) listed on NSE.

26/02/2022
Air India to operate 2 flights to bring back Indians stuck in Ukraine

Air India on Friday said that it will operate two flights from Delhi and Mumbai to Bucharest (Romania) and Budapest (Hungary) on Saturday (February 26) to fly back Indians stranded in Ukraine amid the Russian invasion. The flights have been arranged based upon inputs from MEA on the emerging situation in Ukraine, Air India said.

25/02/2022
'Anonymous' launches cyberattacks against Russia, claims taking down govt websites

After Russia's invasion of Ukraine, the hacker collective that's popularly known as 'Anonymous' has launched "full-scale cyberattacks" against the Russian government. They claimed to have taken down or slowed down several websites, including that of the Kremlin, the Defence Ministry, and state-run RT.com. Various Anonymous accounts were found using the and hashtags on

25/02/2022
BTS's Suga’s Spotify account hacked, hacker adds Bhojpuri bhajan to rapper’s profile
BTS Army was in for a shock on Wednesday after they discovered BTS's rapper Min Yoongi aka Suga's  verified Spotify profile, showing a Bhojpuri song. Turns out, someone hacked Suga’s Spotify profile to upload the new song there. The song that has been uploaded is a Bhojpuri bhajan dedicated to Lord Shiva. 

25/02/2022
Russia-Ukraine conflict wipes over $200 billion from crypto market

The market cap of all cryptocurrencies has plunged by $200 billion following Russia's invasion of Ukraine. The market cap of all cryptocurrencies now stands at approximately $1.56 trillion, down from a high of $1.77 trillion during the last 24 hours, data from Coin MarketCap showed. Bitcoin is trading just over $35,500, a decline of 9% in the last 24 hours.

25/02/2022
US sanctions Russian banks that together hold around $1 trillion in assets

US President Joe Biden announced new economic sanctions on Russia following the Russian invasion of Ukraine. "We've now sanctioned Russian banks that together hold around $1 trillion in assets," he said. "Today, we're also blocking four more major Russian banks...every asset that they have in America will be frozen. This includes VTB, the second-largest bank in Russia," Biden added.

26/02/2022
UK announces its biggest-ever sanctions against Russia, bans Russian banks

The UK has announced its biggest-ever economic sanctions against Russia after the Russian invasion of Ukraine. It's banning Russian banks from the UK finance system, stopping them from accessing sterling and clearing payments through the UK. Russian companies will be banned from raising funds in the UK and the UK will limit the money Russians can deposit in UK banks.
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25/02/2022
Russia-Ukraine war may hit commodities beyond oil and gas: Raghuram Rajan

Former RBI Governor Raghuram Rajan told CNBC that the Russia-Ukraine war has the potential to affect not just oil and natural gas but various essential commodities like wheat. "Grain prices can also go up because Ukraine and Russia contribute a great amount of wheat exports to the world." On the global economic recovery, Rajan said that recovery is at risk.

25/02/2022
Firm behind Free Fire app no longer Southeast Asia's biggest listed firm

Singapore-based Sea Ltd, the owner of Garena Free Fire game, has lost its title as Southeast Asia's biggest publicly-traded company after its shares plunged to an 18-month low. It was overtaken by the Indonesian bank PT Bank Central Asia. Sea had earlier lost over $16 billion in its biggest daily market value drop after India banned Free Fire's app.

25/02/2022
Russian currency crashes to lowest on record after attacks on Ukraine

The Russian ruble sank to its lowest level on record after Russian President Vladimir Putin launched a military operation in Ukraine, as per Bloomberg. The ruble fell as much as 9.4% in local trading to 89.60 against the US dollar, before paring some of its losses. The Moscow Exchange halted trading for several hours after stocks also fell most on record.

24/02/2022
Elon Musk falls out of $200-billion club, loses $13.3 billion in a day

No person in the world currently has a fortune of over $200 billion as Elon Musk's wealth fell by $13.3 billion on Wednesday. The Tesla CEO was the only member of the $200-billion club but his fortune now stands at $198.6 billion, according to Bloomberg Billionaires Index. He has lost about $72 billion this year, but still remains world's richest.

22/02/2022
Jhunjhunwala-backed Akasa Air to hire 350 cabin crew, pilots by March 2023: Report

Billionaire investor Rakesh Jhunjhunwala-backed Akasa Air is reportedly planning to hire over 300-350 cabin crew members and pilots by March 2023. The airline is offering 80% higher salaries to pilots than SpiceJet, ET reported. A spokesperson said pilot and cabin crew hiring is currently underway and the employee strength will depend on the level of the airline's network and operations.

23/02/2022
Dubsmash shuts down seven years after its launch

American short-form video social platform Dubsmash officially shut down on February 22, 2022, a little more than seven years after its launch. Reddit, which acquired Dubsmash in December 2020, is shutting the platform after absorbing much of its functionality. Dubsmash will no longer be available for download in the Apple App Store or Google Play Store.

22/02/2022
Air India flight gets water salute in Maldives for 46 yrs of air service

Air India on Monday shared a video of one of its flights receiving a water cannon salute on landing at Male airport in Maldives. The aircraft was welcomed to commemorate 46 years of air service between India and the Maldives. The airlines mentioned that the first flight between the two countries was operated from Thiruvananthapuram to Male in February 1976.

22/02/2022
Ashneer files arbitration plea, calls Bharat Pe investigation against him illegal: Reports

BharatPe Co-founder Ashneer Grover filed an arbitration plea in the Singapore International Arbitration Centre claiming that BharatPe's investigation against him is illegal, ET and Livemint reported. He claims BharatPe kept the investigation opaque and gave him no chance to present his case. Grover also sought indemnity from any future action against him in his settlement talks with Bharat Pe.

22/02/2022
Virgin Hyperloop fires half its staff as it switches from passenger travel to freight

Virgin Hyperloop has laid off almost half of its employees as the company developing the high-speed mass transportation system pivots from passenger travel to freight. The company confirmed to Financial Times that 111 employees were laid off on Friday. Backed by billionaire Richard Branson's Virgin Group, Virgin Hyperloop conducted the first-ever test of Hyperloop technology with humans in 2020.

22/02/2022
Porsches, Lamborghinis on ship burning mid-ocean may be worth 1,150 cr: Report

A fire on the ship off the coast of Portugal's Azores Islands, that broke out on February 16, is expected to generate at least $155 million (over 1,150 crore) in expected losses for Volkswagen, risk solutions company Russell Group has estimated. The ship was carrying Volkswagen group's Porsche, Audi, and Lamborghini vehicles. The ship was reportedly carrying over 4,000 cars.

22/02/2022
IDFC FIRST Bank MD gifts shares worth *3.95 cr to driver, 4 others to buy houses

IDFC FIRST Bank MD and CEO V Vaidyanathan has gifted 9 lakh shares of the bank held by him worth $3.95 crore, to five individuals, including a driver and house help, to help them purchase homes. Additionally, the Rukmani Social Welfare Trust has disposed of 2 lakh equity shares to support social activities. Vaidyanathan is a trustee of Rukmani trust.

21/02/2022
Tata Technologies to hire 1,000 more people in FY 2023: CEO

Tata Technologies will hire at least 1,000 more people in FY2023 than its planned recruitment of over 3,000 innovators over 12 months under its expanded talent acquisition program, said CEO Warren Harris. "That speaks to the fact that increasingly, we are not opportunities constrained," he added. The company had announced its decision to recruit over 3,000 people in January.

21/02/2022
New policy to cut green hydrogen cost by 40-50%: India's largest oil firm IOC

India's largest oil firm Indian Oil Corporation (IOC) has said that the offer to waive transmission charges on green energy will help cut the cost of manufacturing green hydrogen by 40-50%. The cost will go down further if electrolyzers are indigenously manufactured instead of the present practice of importing them, said Director for Research & Development S.S.V. Ramakumar.