Business highlights

Following are the top business stories at 2030 hours: FGN53 WEF-INDIA India marks its presence at WEF Annual Meeting Davos: Making its presence felt with a large delegation, India emerged as a major talking point during the World Economic Forum Annual Meeting that ended on Thursday with the war in Ukraine being the single-biggest topic of discussions among the leaders assembled here.

DEL56 BIZ-LD BPCL Govt withdraws offer to sell 53 pc stake in BPCL as most bidders express inability to participate New Delhi: The government on Thursday withdrew its offer to sell its entire 53 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market.

FGN38 WEF-MANDAVIYA India will ramp up foodgrain production, committed to help in global food crisis: Mandaviya Davos: As the world faces a severe food crisis due to the war in Ukraine, Union Health Minister Mansukh Mandaviya on Thursday said India is a responsible country that is committed to all possible help to the rest of the globe. FGN54 WEF-SCHOLZ LD INDIA German Chancellor calls for engaging with democracies in mutipolar world, cites India example Davos: Citing an example of his engagements with Indian Prime Minister Narendra Modi, German Chancellor Olaf Scholz on Thursday made a strong pitch for diversifying engagements with all democracies of the world so that a multipolar world also becomes multilateral in nature.

DEL39 BIZ-LD STOCKS Sensex halts 3-day decline, rebounds over 500 pts amid F&O expiry Mumbai: Equity benchmarks mustered gains for the first time this week on Thursday as investors piled into the recently-battered metal, bank and IT stocks amid expiry of monthly derivative contracts.

FGN52 WEF-LD GERMANY-CHANCELLOR We can't let Putin win this war: German Chancellor Davos: German Chancellor Olaf Scholz on Thursday said Russian President Vladimir Putin cannot be allowed to win his war in Ukraine and sought to end any dependence on Russian fuels, even as he asserted that deglobalisation was not going to work.

FGN55 WEF-CLOSING WEF calls for recreating a win-win world as annual Davos meet ends Davos: The World Economic Forum on Thursday called for recreating a win-win world as its Annual Meeting 2022 in this Swiss ski resort town ended with the war in Ukraine, energy and food crises, climate change and changing nature of globalisation hogging the limelight in discussions of over 2,500 global leaders over five days.

DEL36 BIZ-RUPEE-CLOSE Rupee slips 2 paise to close at 77.57 against US dollar Mumbai: The rupee declined 2 paise to close at 77.57 (provisional) against the US dollar on Thursday, as firm crude prices and relentless foreign capital outflows dented investor sentiment.

DCM33 BIZ-ECOMMERCE-FAKE REVIEWS Fake reviews on e-commerce sites under Centre's radar; meeting with stakeholders on Friday New Delhi: The consumer affairs ministry along with Advertising Standards Council of India (ASCI) will hold a virtual meeting on Friday with stakeholders including e-commerce entities to discuss the magnitude of fake reviews on their platforms, which mislead consumers into buying online products and services.

DCM28 BIZ-COAL INDIA-STAKE SALE CIL to divest 25 pc stake in BCCL; plans subsequent listing New Delhi: State-owned CIL on Thursday said it is planning to divest 25 per cent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further clearances.

DCM71 UP-2NDLD BUDGET Adityanath's new govt presents first budget, says UP set to become trillion-dollar economy Lucknow: The Yogi Adityanath government on Thursday presented the maiden budget of its second term in Uttar Pradesh, claiming that it is on the way to turning the state into a USD 1 trillion economy in the coming years.

DCM42 BIZ-LD MOODYS-GROWTH Moody's slashes India's economic growth forecast to 8.8 pc for 2022 New Delhi: Moody's Investors Service on Thursday slashed India's economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, citing high inflation.

DEL46 BIZ-GOLD-PRICE Gold declines Rs 241 amid weak global trends New Delhi: Gold in the national capital on Thursday fell by Rs 241 to Rs 50,671 per 10 grams, reflecting a decline in international precious metal prices, according to HDFC Securities.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)