Auto sales brush aside COVID blues, post record growth : Bulletin: Business Today
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Auto sales brush aside COVID blues, post record growth

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Rashi Bisaria | March 2, 2021

Expect domestic air passenger traffic to return pre-COVID level by 2022-23, says ICRA

Expecting domestic air passenger traffic to return to the pre-COVID-19 level by the financial year 2022-23 and international by 2023-24, rating agency ICRA on Monday said there could be a delay in the commercialisation of expanded capacity by 9-12 months. ICRA also said the cargo volumes are likely to grow around 36 per cent in 2021-22 and six per cent in 2022-23 after a 25 per cent contraction this fiscal, reaching pre-COVID-19 levels in 2021-22.

Economic activity gathering steam, but private investment missing: RBI

The Reserve Bank of India (RBI) on Monday, March 1, said India's economic activity is gaining momentum on COVID-19 vaccination roll out and decrease in infections, but private investment is missing. The vaccination programme has released pent-up optimism and "there is little doubt today that a recovery based on a revival of consumption is underway," RBI said.

Automobile sales brush aside COVID blues, post record growth in February

Sale of passenger vehicles posted a strong 23 per cent growth in February at more than 3 lakh units--308,605 units to be exact, over the last year as the industry put to rest the ghost of the pandemic. This is only the second time industry volumes have crossed the mark and is only a shade lower than the all-time tally of 310,294 units logged in October last year.

COVID-19 update: License more vaccine manufacturing to triple global production, says WTO chief

The new chief of the World Trade Organization (WTO) urged its member states on Monday to work with pharmaceutical companies to license more COVID-19 vaccine manufacturing in developing countries in order to triple global production. Okonjo-Iweala, the WTO's first female and first African director-general, said that companies must be encouraged to open up and license more viable manufacturing sites now in developing countries.

Tesla's market cap unsustainable, not linked to entrepreneurial capabilities of Elon Musk: Rakesh Jhunjhunwala

Ace investor Rakesh Jhunjhunwala believes that Tesla CEO Elon Musk is a "true pioneer and entrepreneur", however, he wasn't sure about his electric vehicle company's valuation. According to the billionaire stock market investor, the market-capitalisation (m-cap) of Tesla is not going to last and is not linked to the entrepreneurial capabilities of Musk. The m-cap of Tesla breached $800 billion in January 2021 for the first time, making Musk the world's richest person briefly.

Chinese hackers target Indian vaccine makers SII, Bharat Biotech, says security firm

A Chinese state-backed hacking group has in recent weeks targeted the IT systems of two Indian vaccine makers whose coronavirus shots are being used in the country's immunisation campaign, cyber intelligence firm Cyfirma told Reuters. Cyfirma, based in Singapore and Tokyo, said Chinese hacking group APT10, also known as Stone Panda, had identified gaps and vulnerabilities in the IT infrastructure and supply chain software of Bharat Biotech and the Serum Institute of India (SII), the world's largest vaccine maker. China's foreign ministry did not reply to a request for comment.

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