Business News From The Town Desk Of The London Night Standard

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As per Indian accounting requirements, X’s India arm recorded a Rs forty four crore loss in FY22. The extra loss was associated to share-based compensation prices that the corporate needed to bear. In July 2022, the Ministry of Electronics and Information Technology revealed that X had 23.6 million users in India, making it the platform’s third-largest market. Indian customers additionally represent 7% of the social media site’s international person base. Find financial, advertising, management, and technology advice on this website. It additionally covers present occasions and provides tips on how small business can turn into more successful.

It added that the rise of crypto-currency, a digital currency operating exterior central banks, has added complexity to these discussions. Over the weekend, greater than 30 corporations listed in China revealed intentions to conduct share buybacks and purchases after China announced a slew of measures aimed at stabilizing falling inventory costs. The Hang Seng in Hong Kong fell 0.3pc to 17,349.36 and the Shanghai Composite index rose zero.2pc at 3,022.ninety. Asian shares have been largely lower on Monday ahead of a Federal Reserve decision this week on interest rates. The House of Fraser owner confirmed the sale of the IP, although stated it would be keeping Missguided’s actual property and employees which had already been built-in into Frasers’ fashion division.