Daily News Snippets- 17 February 2022

2 min read

1) USA Warns Russia could invade Ukraine:

  • The President of the United States of America (USA) has warned that still Russia can invade Ukraine. The US believes that Russia has still not taken its troop back and there are still Russian troops massed near Ukraine Border and can invade the country any time amid escalating tensions.
  • This uncertainty of the invasion or the easing of tensions will certainly keep the gold and crude prices unstable and will likely impact the stock markets as well.

2) LIC IPO Push:

  • A tremendous effort has been applied by Investment Bankers to push LIC’s IPO for both the Institutional Investors and the Retail Investors as well.
  • Also, many other companies have postponed their IPOs and are not in the mood to clash with the LIC IPO.

3) Easing down of Covid-19 Curbs in States:

  • The Central Government talks to State Governments to review the curbs applied in the states regarding Covid-19 and should be eased if the conditions are normal so that economic actions take place smoothly.

4) Condition for Tesla to regarding Import Tax Cut:

  • The Government of India wants Tesla to purchase ancillaries or auto products worth $500 million or Rs. 3,750 Cr. (approx.) from India, if the company wishes for import tax cuts.
  • The Government aims to create jobs with such sourcing. Tesla commits that it is already sourcing ancillaries or parts worth $100 million or Rs. 750 Cr. from India.

4) India-UAE Trade Relation:

  • A Comprehensive Economic Partnership Agreement pact is going to be signed between India and United Arab Emirates (UAE), most likely on Friday.
  • As per the pact, the nation plans to trade worth around $100 Billion in the coming 5 years and duty-free access to many products and services.

5) Expectation of Higher Pay Rise for Salaried Employees:

  • Salaried Employee can expected higher pay rise of about 10%. Last year, the pay hike was 9.3%. This rise in pay will led to increase in disposable income.

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