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J&K govt signs MoU with Century Financial for $100 million investment

In its ongoing efforts to strengthen the Hospitality & Tourism Industry in Jammu Kashmir Union Territory, the J&K government today signed an MoU with UAE’s pioneering financial services company, Century Financial that will invest $100 million in the Union Territory. The MoU was signed in a special event presided by the Lieutenant Governor, Manoj Sinha.

The investment will cover 3 hotels and one commercial cum residential complex in Jammu & Kashmir. The owner of Century Financial Sh. Bal Krishen is originally a native of the Doda district of Jammu and has been a forerunner in supporting his home region.

The MoU was signed by Principal Secretary, Industries, J&K, Sh. Ranjan Prakash Thakur and Sh. Bal Krishen, Owner of Century Financial in the presence of Sh. Aman Puri, Consul General of India in Dubai and several distinguished UAE-based business owners, investors, and entrepreneurs.

Speaking on the occasion, Lieutenant Governor, Manoj Sinha said “Honorable Prime Minister Shri Narendra Modi is committed to the development of the Union Territory of Jammu & Kashmir. We are happy to see the interest shown by UAE’s big business houses and leaders in supporting this vision of our honorable Prime Minister. Global business & industry are waking up to the vistas of opportunity in J&K.”

“Despite challenges of global pandemic, neither the pace of economic and policy reforms nor the implementation of key infrastructure projects has slowed in any way in UT and we as responsive administration will continue to respond to business’s concerns”, said the Lt Governor.

Lieutenant Governor further congratulated Sh. Bal Krishen for his commitment and passion to support his home region and thanked him for this grand gesture.

Sh. Ranjan Thakur, Principal Secretary, Industries and Commerce J&K, stated “Jammu & Kashmir is one of the safest places in India to do business offering the most attractive incentive schemes for investments in the union territory compared to other states in the country.”

“I have always believed that Jammu & Kashmir has tremendous investment potential and there cannot be a better time than now. Making a significant contribution to my home region has always been my dream and today as I see this dream getting realized, it’s immensely gratifying” said Century Financial’s owner, Bal Krishen.

The event was held at The Oberoi Dubai, Business Bay.

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Business

Gold Price Down By 3,500. Check Latest Gold Rates

The gold rate today fell by a whopping Rs 3,500 per kg across the country. In India, the gold rate today was Rs 45,500 per 10 grams of 22-carat gold. In Delhi, the gold rate was Rs 45,150. While the gold rate in Mumbai was Rs 45,150, the same as the gold rate in Delhi, according to goodreturns’ website.

Check Latest Gold Rates In Your City Here On January 29, 2022

The following prices may not match the local prices because these do not include GST, TCS and other taxes. These are the prices per 10 grams of 22-carat of gold in various cities across the country. The rates have been taken from goodreturns.in.

  • Gold rate in Chennai: ₹45,490
  • Gold rate in Mumbai: ₹45,150
  • Gold rate in Delhi: ₹45,150
  • Gold rate in Kolkata: ₹45,150
  • Gold rate in Bangalore: ₹45,150
  • Gold rate in Hyderabad: ₹45,150
  • Gold rate in Kerala: ₹45,150
  • Gold rate in Pune: ₹45,150
  • Gold rate in Vadodara: ₹45,150
  • Gold rate in Ahmedabad: ₹45,150
  • Gold rate in Jaipur: ₹45,150
  • Gold rate in Lucknow: ₹46,100
  • Gold rate in Coimbatore: ₹45,490
  • Gold rate in Madurai: ₹45,490
  • Gold rate in Vijayawada: ₹45,150
  • Gold rate in Patna: ₹45,150
  • Gold rate in Nagpur: ₹45,150
  • Gold rate in Chandigarh: ₹46,100
  • Gold rate in Surat: ₹45,150
  • Gold rate in Bhubaneswar: ₹45,150
  • Gold rate in Mangalore: ₹45,150
  • Gold rate in Visakhapatnam: ₹45,150
  • Gold rate in Nashik: ₹45,150
  • Gold rate in Mysore: ₹45,150
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Business

Google to invest up to $1 billion in a partnership with Airtel

Bharti Airtel and Google, on Friday, January 28, 2022, said that they would partner on a long-term, multi-year agreement to accelerate the growth of India’s digital ecosystem, under which Google intends to invest up to USD 1 billion.

The amount is part of the USD 10 billion ‘Google for India Digitization Fund’, which was announced by the CEO of Google and Alphabet Sundar Pichai in 2020, and will include equity investment as well as a corpus for potential commercial agreements, to be identified and agreed on mutually agreeable terms over the next five years, the companies said in a statement.

Also Read: BSF constable injured in encounter with smugglers; huge cache of drugs, arms seized

“Together, they will work to bring best-in-class end-to-end products to serve customer needs, provide quality customer experience, and bring their expertise to solve problems of affordability, access, and digital inclusion,” they added.

The deal includes an investment of USD 700 million to acquire 1.28% ownership in Airtel and up to USD 300M toward potential multi-year commercial agreements. The partnership will focus on enabling affordable access to smartphones across price ranges and will continue to explore building on their existing partnerships to potentially co-create India-specific network domain use cases for 5G and other standards and help accelerate the cloud ecosystem for businesses across India.

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Business

Smartphone sales in India grow by 12% in 2021: Report

The smartphone market in India achieved a record 162 million shipments in 2021, growing 12 per cent in 2020, a new report revealed.

After a tough start to the year, due to the second wave of Covid-19, India recovered strongly in the second half, reports market research firm Canalys.

“Thanks to the vaccination rollout, market reopening and pent-up demand, smartphone shipments reached all-time highs for the full year. Growth is expected to continue in 2022, driven by both replacement demand and new customers migrating to smartphones,” Sanyam Chaurasia, Analyst Canalys said in a statement.

Following a strong comeback in Q3, smartphone vendors shipped 44.5 million devices in Q4 for 2 per cent growth, despite a challenging supply chain.

Also Read: Father-Son Arrested For Sharing Video Insulting Prime Minister

Xiaomi was the leader, shipping 9.3 million units and maintaining its 21 per cent market share. Samsung came second with 8.5 million units for a 19 per cent share.

For the first time, realme climbed to third place in India, with a 49 per cent year-on-year increase in volume that reached 7.6 million shipments. The fourth and fifth places were taken by Vivo and OPPO, with 5.6 million and 4.9 million units.

“Overall, India will see upward momentum towards future-proof technologies, with smartphones being at the core of the digital ecosystem and growing ever-more essential to the daily lives of Indian citizens,” Chaurasia added.

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Covid-19 Stats

29 Jan 2022, 9:34 AM (GMT)

Coronavirus Stats

40,858,241 Total Cases
493,218 Death Cases
38,360,710 Recovered Cases

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