News wrap Feb 4: Govt, RBI mull 2 versions of digital rupee; Tata Steel Q3 profit jumps 139% YoY; NEET PG exam 2022 postponed and more

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The Reserve Bank of India and the Union Ministry of Finance are considering two versions of the digital currency that Finance Minister Nirmala Sitharaman announced in her Budget 2022, sources said on Friday.  Delhi government has exempt solo drivers travelling in a car from wearing a face mask. Jio Platforms Ltd has announced an investment of $15 million in Two Platforms Inc (TWO). Here are some more top news of the day

BUSINESS/ECONOMY

Government, RBI mull 2 versions of digital rupee

CNBC-TV18 has learned both the Reserve Bank of India and the Union Ministry of Finance are engaged in discussions on bringing in two versions of the proposed digital currency–one will be a wholesale digital rupee and the other will be a retail digital rupee. Read more

Jio Platforms buys 25% stake in Two Platforms Inc for $15 million

Mukesh Ambani-led Jio Platforms Ltd on Friday announced an investment of $15 million in Two Platforms Inc (TWO), a Silicon Valley-based deep tech startup founded by Pranav Mistry, for a 25 percent equity stake on a fully diluted basis. Read more

FMCG sales decline 10% MoM in January, third-wave impact lesser than earlier waves

Sales of fast-moving consumer goods (FMCG) declined by 10 percent in January 2022, compared to the previous month, data from retail intelligence platform Bizom showed. Read more

MARKETS

Sensex @ 1,00,000 eminently achievable on 5-year view: Jefferies

Christopher Wood of Jefferies thinks that a target of 1,00,000 is “now eminently achievable” for the Sensex on a five-year view. Here’s why

Facebook’s massive sell-off: Key factors behind the worst one-day crash in market history

Facebook shares crashed 26 percent on Thursday, losing more than $200 billion, the worst single-day fall by any company in the history of US stock market. Here’s what’s behind Facebook’s falling share price

Tata Steel Q3 Results: Net profit jumps 139% YoY to Rs 9,598 crore

Tata Steel Limited posted broadly stable consolidated revenues at Rs 60,783 crores for the quarter ended December 31, 2021, as the improvement in net realisations more than offset the drop in volumes. More details here

INDIA

Delhi exempts solo drivers in cars from wearing masks

Delhi Deputy Chief Minister Manish Sisodia tweeted on Friday that wearing a face mask is no longer mandatory for solo drivers travelling in a car in the city. Check more details

NEET PG exam 2022 postponed by 6-8 weeks

The Union Health Ministry on Friday postponed the National Entrance Eligibility Test (NEET) PG exam 2022 by six-eight weeks. The exam was scheduled to be held on March 12. Read more

Assembly elections: People won’t allow rioters, mafia to take control of UP, says PM Modi

In a veiled dig at the Samajwadi Party (SP) over the law and order situation ahead of the Assembly elections, Prime Minister Narendra Modi said people will not allow rioters and mafia to take control of Uttar Pradesh from behind the curtains. Read more

WORLD

Xi Jinping meets Vladimir Putin in Beijing amid Ukraine standoff

Chinese President Xi Jinping offered support to his Russian counterpart Vladimir Putin amid deteriorating relations with the West over the conflict with Ukraine when they met in Beijing for the opening of the Winter Olympic Games. Read more

How Melinda French Gates plans to give away her billions

Instead of giving away most of her $11.4 billion, which she received as a result of her high-profile divorce with Gates, to the Foundation, Melinda French Gates will be focusing on donating the money to other charitable foundations, according to a report. Read more

South Africa’s Afrigen makes mRNA COVID vaccine using Moderna data

South Africa’s Afrigen Biologics has used the publicly available sequence of Moderna Inc’s (MRNA.O) mRNA COVID-19 vaccine to make its own version of the shot, which could be tested in humans before the end of this year, Afrigen’s top executive said. Read more

YOU & ME

After 26.39% dip, should Indian investors buy Meta shares?

While Meta’s stock has taken a beating, its ‘discounted’ price provides an opportunity for Indian investors to buy one of the world’s biggest stocks. Here’s what to consider

Oppo launches Reno 7 5G series in India today; check features, specs and price

Chinese smartphone maker Oppo has launched the Reno 7 5G and Reno 7 Pro 5G in India. The Oppo Reno 7 5G is expected to compete against budget performers like the OnePlus Nord 2, Realme GT Master Edition, and Mi 11x. Check price here

Should you buy an electric vehicle? A look at pros and cons

In the recently presented Union Budget 2022-23, the Centre made it clear that electric vehicles or EVs are going to be the future of mobility in India in the next decade. Check why you should or shouldn’t buy an EV

(Edited by : Kanishka Sarkar)

First Published:  IST

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