Top headlines: Demand for gig workers up, Adani Enterprises' FPO and more

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Adani Enterprises' Rs 20,000-crore FPO likely before Budget 2023

Adani Enterprises Ltd (AEL), the flagship entity of the Adani group, is planning to launch its Rs 20,000-crore follow-on public offer (FPO) before the Union Budget on February 1, thanks to an encouraging response from global investors during the ongoing roadshows, sources in the know said. Read more...

Focus must stay on core inflation, says RBI governor Shaktikanta Das

Headline retail inflation may have fallen within the Reserve Bank of India’s (RBI’s) tolerance band, but core inflation remains uncomfortably high and the central bank’s focus is on the metric, Governor Shaktikanta Das said on Friday.

“Core inflation is around 6.1 per cent, and the previous month (it) was about 6 per cent. Although the momentum of core inflation within that seems to have slightly moderated, the point remains that core inflation remains sticky at 6 per cent and that is not a very comfortable number to deal with,” Das said at Business Today’s Banking and Economy Summit. Read more...

Demand for gig workers increased by 10 times in 2022, says report

Demand for gig workers increased ten-fold while the participation of gig workers rose by three times in calendar year 2022 compared to the previous year, said a recent report by Taskmo, a gig work platform.

In addition, youth participation in the gig economy has increased eight times bet­ween 2019-2022, said the re­port. As many as 49 per cent of gig workers on the platform are under the age of 25. Read more...

Indians account for 5% app downloads on mobiles in 2022, shows data

Indians downloaded over 28 billion apps on their mobiles in 2022 and accounted for 5 per cent of the 625 billion downloads globally — next only to China.

Indian users spent almost five hours a day on their mobiles on average, the eighth-highest globally. But in terms of average usage per day per consumer, at 4.9 hours, India was tied in the sixth place with Australia and Mexico — behind Indonesia, Brazil, Saudi Arabia, Singapore and  South Korea, all of which hit 5 hours or more. Read more...

CoC approves 90-day extension for Reliance Capital resolution process

The Committee of Creditors (COC) of Reliance Capital has approved a 90-day extension for the completion of debt resolution process of the bankrupt company. The current deadline ends on January 31 and CoC is seeking an extension till April-end. Read more...