In a cash boost to the government the Reserve Bank of India (RBI) approved a dividend payment of Rs 30,307 crore to the government for the financial ended March 2022. This figure however is one of the lowest in nearly a decade and much lower than the budget estimates. 
The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk Buffer at 5.50 per cent, RBI said in a statement.
The decision on the dividend payment was made in the 596th meeting of the Central Board of Directors of RBI, headed by Governor Shaktikanta Das, held on Friday.
Last year in May, RBI declared a dividend of Rs 99,122 crore for the nine-month period (July 2020 to March 2021). The dividend was paid for that period as RBI aligned its financial year with the government's financial year.
Earlier, RBI used to follow July-June period earlier as against government's April-March financial year.
During its meeting, the board reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments.
The board also discussed the working of RBI during the year April 2021 – March 2022 and approved the annual report and accounts for the accounting year 2021-22, the statement said.

RBI's ₹30,000 cr payout to the Govt, lowest in nearly a decade

RBI's Rs 30,000 cr payout to the Govt, lowest in nearly a decade

RBI's dividend kitty shrinks!

The dividend for FY22, which will be transferred in FY23 is much lower than what the government had estimated in Budget 2022.

In a cash boost to the government the&nbsp;Reserve Bank of India (RBI) approved a dividend payment of Rs 30,307 crore to the government for the financial ended March 2022. This figure however is one of the lowest in nearly a decade and much lower than the budget estimates.&nbsp;
The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk Buffer at 5.50 per cent, RBI said in a statement.
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The decision on the dividend payment was made in the 596th meeting of the Central Board of Directors of RBI, headed by Governor Shaktikanta Das, held on Friday.
Last year in May, RBI declared a dividend of Rs 99,122 crore for the nine-month period (July 2020 to March 2021). The dividend was paid for that period as RBI aligned its financial year with the government's financial year.
Earlier, RBI used to follow July-June period earlier as against government's April-March financial year.
Also read/watch| <a title="Markets at close: Not a week for the weak hearted!" href="https://www.editorji.com/business-news/markets/markets-at-close-sensex-shuts-shop-with-1500-point-gain-nifty-up-over-450-points-in-friday-s-trade-ril-leads-gains-and-tech-recovers-1653041054494">Markets at close: Not a week for the weak hearted!</a>
During its meeting, the board reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments.
The board also discussed the working of RBI during the year April 2021 &ndash; March 2022 and approved the annual report and accounts for the accounting year 2021-22, the statement said.

"Aatmanirbhar 5G. Successfully tested 5G call at IIT Madras. Entire end-to-end network is designed and developed in India," Ashwini 
 Vaishnaw said in a social media post.

5G Call in India: Watch Video! Telecom Minister Ashwini Vaishnaw dials in, first ever 5G call made 

"Aatmanirbhar 5G. Successfully tested 5G call at IIT Madras. Entire end-to-end network is designed and developed in India," Vaishnaw said in a social media post.

5G calling, Telecom Minister makes the first call

Prime Minister Narendra Modi&nbsp;inaugurated the country's first 5G test-bed, incubated at IIT Madras

India dialled into the next generation calling system as Union minister Ashwini Vaishnaw&nbsp; made the first <a href="https://www.editorji.com/business-news/first-ever-5g-call-telecom-minister-dials-in-1653015578745" target="_blank">5G call</a> on a trial network set up at IIT Madras using indigenously-developed telecom gears.
"Aatmanirbhar 5G. Successfully tested 5G call at IIT Madras. Entire end-to-end network is designed and developed in India," Vaishnaw said in a social media post.
The telecom minister, after making a video call on indigenously developed <a href="https://www.editorji.com/business-news/canada-bans-chinese-telecom-giant-huawei-zte-from-5g-network-1653012922195" target="_blank">5G technology</a> gears, said that it is the realisation of the prime minister's vision.
"His (PM's) vision is to have our own 4G, 5G technology stack, developed in India, made in India and made for the world. We have to win the world with this entire technology stack," Vaishnaw said after making the call.
The government expects commercial roll-out of 5G services to start in the country by August-September this year.At present, telecom companies have been allowed to only conduct trial of 5G services.
The&nbsp;5G test-bed has been developed as a multi-institute collaborative project by eight institutes led by IIT Madras.In the absence of a 5G test-bed, startups and other industry players were required to go abroad to test and validate their products for installation in a 5G network.
Also Watch:&nbsp;<a href="https://www.editorji.com/business-news/spicejet-flight-halted-due-to-lack-of-payment-find-out-what-happened-1653019017695" target="_blank">SpiceJet flight halted due to lack of payment, find out what happened</a>&nbsp;
Prime Minister Narendra Modi on Tuesday inaugurated the country's first 5G test-bed, incubated at IIT Madras, to enable startups and industry players to test and validate their products locally and reduce dependence on foreign facilities.

Think of your dream property, car, Watch, Jewellery Piece and then think a little harder and you’ll begin to get an idea of what the most expensive these things in the world look like.Here are 5 such things that you might never be able to afford in this lifetime, and if you're able to afford, you might not see the value in the price tag. Let's see what they are:
1. Buckingham Palace might not be put up for sale anytime soon but, if it was, it would be worth around $6.7 billion dollars. With 240 bedrooms as well as a swimming pool and doctor’s surgery, it’s a place called home by the British Royal Family and is also open to the public for guided tours. 
In total, this rich house—if you can call it a mere house—contains 775 rooms: 19 state rooms, 92 offices, and 78 bathrooms. It’s also got a huge team of staff as well as beautiful gardens. Rumour has it, there are a few other secret rooms dotted throughout this huge luxury mansion.
2. In 1964, the 250 GTO won the Tour de France Automobile – marking the ninth year in a row that Ferrari won that race. Only 36 of these cars were made between 1962 and 1963; the specific Ferrari that’s the most expensive in the world, at an unbelievable $70,000,000 price point, was victorious not only in the Tour de France, but it also placed in the Le Mans.
With a top speed of 174 miles per hour and an acceleration of 0-60 mph (0-100 km/h) in 6.1 seconds, its stats wouldn’t stand up to the hypercars of the modern day. However, in the ‘60s, it was the fastest in the world – and, now, decades later, it remains the most expensive car in the world of all time by a long shot.
3.Graff Diamonds Hallucination
The most expensive watch ever made is another Graff Diamonds creation. The Hallucination is, as the name suggests, truly breathtaking and brilliantly fantastical. 
Featuring a kaleidoscopic array of 110 carats of different coloured diamonds in a range of different cuts, set into a platinum bracelet, The Hallucination brings high-fashion to the world of horlogerie.
4. The Hope Diamond The most expensive and perhaps the most famous jewel in the world is a 45.52 carat blue stone known as the Hope Diamond. Believed to have been discovered in India in the 1600s, the Hope Diamond was bought by King Louis XIV in 1668. This $250 million worth carat Fancy Dark Gray-Blue antique cushion cut diamond was later stolen during a crown jewel looting in 1791 but resurfaced in London in 1839.
5. 

World's costliest: House, Car, Watch, Jewellery Piece, Painting 

From the priciest house to the costliest painting and beyond, here are 5 such things that you might never be able to afford in this lifetime, and if you're able to afford, you might not see the value in the price tag

From the priciest house to the costliest painting and beyond, here are 5 such things that you might never be able to afford in this lifetime

At a time when lemons and tomatoes are making it on the list of expensive items we look at some of the priciest things money can buy!&nbsp; World's most expensive home:&nbsp;Buckingham Palace&nbsp; You may not see a "For Sale" sign on this London property but home to the British Monarch is valued at $6.7 billion dollars. This 775 room&nbsp;palace has served as the monarchy's headquarter&nbsp;since 1837. Spread across 39 acres, the residence has everything it needs to be its own self-sufficient village, including a post office, movie theatre, police station and clinic.
Also read/watch|&nbsp;<a title="Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&amp;P a scam" href="https://www.editorji.com/business-news/markets/explained-why-tesla-is-no-longer-on-green-and-clean-index-musk-calls-s-p-a-scam-1652950825989">Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&amp;P a scam</a> World's most expensive ride:&nbsp;1963 Ferrari 250 GTO&nbsp;
Zooming in with a $70 million price tag is the ultimate collectible car -&nbsp;Ferrari 250 GTO&nbsp;also dubbed "Il Mostro&rdquo;&mdash;the monster. With only 36 of these cars ever manufactured, it calls for top billing at an auction as a nine-time in a row winner of the&nbsp;Tour de France. With a top speed of 174 miles per hour it is definitely not the fastest but remains the costliest car by a mile and yes they are still in running condition.&nbsp; World's most expensive watch:&nbsp;Graff Diamonds Hallucination
Even if your eyes are able to handle the sparkle, the price tag will surely blind you. The&nbsp;Graff Diamonds Hallucination clocks in with a price of $55 million and can be considered more a piece of jewellery with 110 carats of different coloured diamonds in a range of different cuts, set into a platinum bracelet. But if one had to evaluate the worth of a watch for just its making and brand then the&nbsp; Patek Philippe Grandmaster Chime commands pole position; worth a whopping $31 million. 
World's most expensive jewellery:&nbsp;The&nbsp;Hope Diamond The Hope Diamond is a 45.52-carat diamond originally extracted in the 17th century from the Kollur Mine in Guntur&nbsp;and&nbsp;was bought by King Louis XIV in 1668. This $250 million worth carat Fancy Dark Gray-Blue antique cushion cut diamond was later stolen during a crown jewel looting in 1791 but resurfaced in London in 1839.&nbsp;According to the legend, there is a curse that comes with the glitter,&nbsp;a curse that foretold bad luck and death not only for the owner of the diamond but for all who touched it.
World's most expensive painting:&nbsp;Salvator Mundi The image of Christ as The Saviour of the World was billed as the Last da Vinci&nbsp;at Christie's 2017 and broke all&nbsp;records when it was bought for $450 million in 2017 by the Saudi Royal family. Not been seen in public since then but it remains in the news as art connoisseurs continue to debate if the&nbsp;Salvator Mundi&nbsp;is indeed a work by the master or just his assistants. In an era where digital art and Beeple's make headlines, Da Vinci&nbsp;still remains the holy grail for collectors.&nbsp;

"ESG is an outrageous scam! Shame on S&P Global," Tesla CEO Elon Musk tweeted as the EV giant out kicked off the S&P500's green and clean ESG index. Here is what happened-:
The S&P Global did it's fourth annual rebalance of the sustainably focused, large-cap index this week and Elon Musk's Tesla - the world's largest EV maker got booted off the index. Tesla the the fifth largest holding in the S&P 500, was deemed ineligible as it found itself out along with Berkshire Hathaway, Johnson & Johnson, and Meta Platforms but oddly making it on the sustainable list is oil major Exxon Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn't make the list. ESG is a scam. It has been weaponised by phony social justice warriors," Musk added.S&P Global's ration was that while Tesla's ESG score has remained fairly stable year-over-year, it was pushed further down the ranks relative to its global industry group peers." So Tesla is green but some of the other manufacturers are getting greener. But casting a shade of grey on the ratings is also Tesla's treatment of worker says the global index creator. 
"A media and stakeholder analysis identified two separate events centered around claims of racial discrimination and poor working conditions at Tesla's Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles," S&P Global said.
Those events led to a lower ESG score for Tesla, leading to its elimination from the index.


Explained | Why Tesla is no longer on the US markets 'green and clean' index

Musk loses $12 billion in a single day from his wealth as Tesla stocks sink

"ESG is an outrageous scam! Shame on S&amp;P Global," Tesla CEO Elon Musk tweeted as the EV giant out kicked off the S&amp;P500's green and clean ESG index. Here is what happened-:
The S&amp;P Global did it's fourth annual rebalance of the sustainably focused, large-cap index this week and Elon&nbsp;Musk's Tesla - the world's largest EV maker got booted off the index.&nbsp; Tesla the fifth largest holding in the S&amp;P 500, was deemed&nbsp;ineligible as it found itself out along with&nbsp;Berkshire Hathaway, Johnson &amp; Johnson, and Meta Platforms but oddly making it on the sustainable list is oil major Exxon.&nbsp;
Also read/watch|&nbsp;<a title="Latest stock market scam: This company was selling something that does not exist" href="https://www.editorji.com/business-news/latest-stock-market-scam-this-company-was-selling-something-that-does-not-exist-1652942096992">Latest stock market scam: This company was selling something that does not exist</a> Exxon is rated top ten best in the world for the environment, social &amp; governance (ESG) by S&amp;P 500, while Tesla didn't make the list. ESG is a scam. It has been weaponised by phony social justice warriors," Musk added. S&amp;P Global's ration was that&nbsp;while Tesla's ESG score has remained fairly stable year-over-year, it was pushed further down the ranks relative to its global industry group peers." So Tesla is green but some of the other manufacturers are getting greener.&nbsp; But casting a shade of grey on the ratings is also Tesla's treatment of workers says the global index creator.&nbsp;
Also read/watch|&nbsp;<a title="LPG price hiked again, cylinder rates cross Rs 1,000 all over India" href="https://www.editorji.com/business-news/economy/lpg-price-hiked-again-cylinder-rates-cross-rs-1000-all-over-india-1652929897525">LPG price hiked again, cylinder rates cross Rs 1,000 all over India</a>
"A media and stakeholder analysis identified two separate events centered around claims of racial discrimination and poor working conditions at Tesla's Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles," S&amp;P Global said.
Those events led to a lower ESG score for Tesla, leading to its elimination from the index.

Month after announcing the disappointing subscriber growth slowdown in more than a decade, Netflix lays off about 150 employees. The cuts represent 2 per cent of the streamer’s total workforce, with most of the cuts made in the United States. 
According to reports, the layoffs come across departments and are driven by the need to reduce expenses rather than the performance of individual employees. In addition to the layoff of 150 full-time employees, Netflix is eliminating about 70 part-time jobs in its animation studio and is also cutting freelance roles in its social media and publishing group. The new round of cuts comes less than a month after multiple full-time staff and contractors in Netflix’s editorial and marketing division were laid off.
In April, during its first-quarter earnings announcement, Netflix revealed it had lost 200,000 subscribers in the quarter and expected to lose an additional 2 million during the second quarter. 

Netflix starts sacking, cancelling shows as subscribers shrink

Netflix starts sacking and subcribers shrink

Netflix starts sacking and subscribers shrink

Netflix surprised Wall Street in the first quarter of 2022,&nbsp;reporting a net loss of 200,000 streaming customers&nbsp;&mdash; its first decline in more than a decade

Netflix&nbsp;has fired 150 people as the streaming platform faces revenue pressure with subscribers dropping for the first time in over a decade.&nbsp;The cuts represent 2 per cent of the streamer&rsquo;s total workforce, with most of the cuts made in the United States.&nbsp;
In addition to the layoff of 150 full-time employees, Netflix is eliminating about 70 part-time jobs in its animation studio and is also cutting freelance roles in its social media and publishing group.&nbsp;
Also read/watch|&nbsp;<a title="Watch: Russians queue up at McDonald's outlets as it exits the country" href="https://www.editorji.com/business-news/watch-russians-queue-up-at-mcdonald-s-outlets-as-it-exits-the-country-1652853953737">Watch: Russians queue up at McDonald's outlets as it exits the country</a>
It is not just people but even shows that are getting the 'pink slip' as they get cancelled.&nbsp;The shows Netflix has axed range from critically-acclaimed horrors like Archive 81 to beloved family viewings like The Babysitters' Club, and, well, Cooking with Paris. Nothing and no one it seems, is safe.

From poop slinging to cocky responses, the repartee on Twitter from Elon Musk is casting a doubt on whether this eccentric billionaire will actually buy the social media platform. The War on Bots - Short para on the bot argument But is the real problem debt? (reword this info)But underpinning the deal is a $13 billion debt bill that’s looking like a bigger burden by the day.
Twitter’s annual interest expense to around $900 million, while Bloomberg Intelligence sees $750 million to $1 billion.
With numbers like those, Twitter looks poised to burn cash, boosting the pressure on Musk to transform the company by finding new sources of revenue and slashing costs. FIND AN ENDING 

Bots or Bills, what is really giving Musk second thoughts about Twitter

Pressure will mount on Musk to monetise Twitter as deal brings with it $1 billion interest expense to the social media platform

From poop-slinging to cocky responses, the repartee&nbsp;on Twitter from Elon&nbsp;Musk is casting a doubt on whether this eccentric billionaire will actually buy the social media platform.&nbsp; The War on Bots
Earlier, Musk replied with a poop emoji&nbsp;after Twitter CEO&nbsp;Parag&nbsp;Agrawal&nbsp;in a tweet thread mentioned that it would be difficult to conduct an external audit on the platform's spam accounts. Musk and Agrawal&nbsp;have been in a wrangle lately as the Tesla CEO&nbsp;expresses his doubts over the success of the deal if Twitter fails to provide proof of spam accounts.
Also read/watch |<a href="https://www.editorji.com/business-news/watch-russians-queue-up-at-mcdonald-s-outlets-as-it-exits-the-country-1652853953737" target="_blank">&nbsp;Watch: Russians queue up at McDonald's outlets as it exits the country</a>
But is the real problem debt?
Underpinning the deal is a $13 billion debt bill that&rsquo;s looking like a bigger burden by the day.&nbsp;Twitter&rsquo;s annual interest expense to around $900 million, while Bloomberg Intelligence sees $750 million to $1 billion.
With numbers like those, Twitter looks poised to burn cash, boosting the pressure on Musk to transform the company by finding new sources of revenue and slashing costs.
Musk wanted to eliminate spam Twitter accounts
Well, one must remember that Musk offered to buy the social media giant for $44 billion as he decided to eliminate bots from Twitter. Even after buying the largest stake in the company, Musk tweeted, "If our Twitter bid succeeds, we will defeat the spam bots or die trying!&rdquo;
So, now the question arises, if he already knew about the problem of bots -- and Twitter has always said the real number could be higher even though their best estimate calculated it to be sub-5 percent&nbsp;-- then why didn't the eccentric billion do the due diligence before announcing the deal.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/paytm-mall-99-5-valuation-decline-as-key-investors-alibaba-ant-group-exit-1652787134002" target="_blank">Paytm Mall: 99.5% valuation decline as key investors Alibaba, Ant Group exit</a>
We must also look at the deal offer which was made at $54.20 per share. Since then the prices of tech companies have corrected sharply and hence a $54 per share seems like a significantly premium offer for a share that has already been trading at $38.

Tesla CEO Elon Musk on Tuesday said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.
Musk made the comment in a reply to another user on Twitter early Tuesday.
In his tweet, Musk said, “20 percent fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of 5 percent. This deal cannot move forward until he does.”
At a Miami technology conference Monday, Musk estimated that at least 20 percent of Twitter's 229 million accounts are spam bots, a percentage he said was at the low end of his assessment, according to a Bloomberg News report.
Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month. Musk had earlier said a viable deal at a lower price would not be out of the question, according to the report by Bloomberg.
He spent much of the previous day in a back-and-forth with Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 percent of Twitter accounts are fake.

Spam Alert: Elon Musk could drop Twitter buyout plans

Tesla CEO said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.

Elon Musk could cancel Twitter deal

Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.

Tesla CEO Elon Musk on Tuesday said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.
Musk made the comment in a reply to another user on Twitter early Tuesday.
Also read/watch |<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014" target="_blank">&nbsp;Bots or Bills, what is really giving Musk second thoughts about Twitter</a>
In his tweet, Musk said, &ldquo;20 percent fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of 5 percent. This deal cannot move forward until he does.&rdquo;
At a Miami technology conference Monday, Musk estimated that at least 20 percent of Twitter's 229 million accounts are spam bots, a percentage he said was at the low end of his assessment, according to a Bloomberg News report.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/lic-ipo-muted-debut-here-is-what-macquarie-makes-of-the-stock-1652770062417">LIC IPO Muted Debut: Here is what Macquarie makes of the stock</a>
Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.&nbsp;Musk had earlier said a viable deal at a lower price would not be out of the question, according to the report by Bloomberg.
He spent much of the previous day in a back-and-forth with Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 percent of Twitter accounts are fake.

Zimbabwe issued a one hundred trillion dollars—100,000,000,000,000— currency bill in 2009 which is the largest denomination of currency ever issued.
The History
When Zimbabwe attained independence in 1980, Z$2, Z$5, Z$10 and Z$20 denominations circulated, replaced three decades later by bills in the thousands and ultimately in the millions and trillions as the government sought to prop up a weakening economy amid spiraling inflation.
Shortly after the Z$100 trillion note began circulating, the Zimbabwean dollar was officially abandoned in favor of foreign currencies. From 2007 to 2008, the local legal tender lost more than 99.9 percent of its value. This marked a reversal of fortune from independence, when the value of one Zimbabwe dollar equaled US$1.54. Zimbabwe’s extreme and uncontrollable inflation made it the first—and so far only—country in the 21st century to experience a hyperinflationary episode.
Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent’s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.
What is hyperinflation?
Hyperinflation is defined as beginning when monthly inflation rates initially exceed 50 percent. It ends in the month before the rate declines below 50 percent, where it must remain for at least a year. Zimbabwe entered the hyperinflationary era in March 2007; the period ended when the nation abandoned its currency in 2009.
Shocking inflation
In 2008, Zimbabwe had the second-highest incidence of hyperinflation on record. The estimated inflation rate for Nov 2008 was 79,600,000,000 percent. That is effectively a daily inflation rate of 98 percent. Roughly every day, prices would double. It was also a time of real hardship and poverty, with an unemployment rate of close to 80 percent and a virtual breakdown in normal economic activity. 
What's going on now?
Zimbabwe's inflation has started to rise again, with year-on-year inflation at 96% in April, up from 61% at the beginning of the year, mainly due to a rapidly weakening local currency. In a latest move, Zimbabwe froze bank lending in a temporary measure that is meant to contain inflation and stabilise its economy.
Causes of hyperinflation in Zimbabwe

Government printing money in response to:High national debt
Decline in economic output
Decline in export earnings
Price controls that exacerbate shortages
Lack of confidence in government, economy and political life


Zimbabwe: From Africa's breadbasket to continent’s beggar

Shocking Inflation: This country went from breadbasket to beggar

Shocking Inflation: This country went from breadbasket to beggar.

Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent&rsquo;s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.

Zimbabwe's inflation has started to rise again, with year-on-year inflation at 96 percent in April, up from 61 percent at the beginning of the year, mainly due to a rapidly weakening local currency. In a latest move,&nbsp;Zimbabwe froze&nbsp;bank lending in a temporary measure that is meant to contain inflation and stabilise its economy.
Zimbabwe issued a one hundred trillion dollars&mdash;100,000,000,000,000&mdash; currency bill in 2009 which is the largest denomination of currency ever issued.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014" target="_blank">Bots or Bills, what is really giving Musk second thoughts about Twitter</a>
Shocking inflation
In 2008, Zimbabwe had the second-highest incidence of hyperinflation on record. The estimated inflation rate for Nov 2008 was&nbsp;79,600,000,000 percent.&nbsp;That is effectively a daily inflation rate of 98 percent. Roughly every day, prices would double. It was also a time of real hardship and poverty, with an unemployment rate of close to 80 percent and a virtual breakdown in normal economic activity.&nbsp;
Also read/watch | <a href="https://www.editorji.com/business-news/watch-russians-queue-up-at-mcdonald-s-outlets-as-it-exits-the-country-1652853953737">Russians queue up at McDonald's outlets as it exits the country</a>
The History
When Zimbabwe attained independence in 1980, Z$2, Z$5, Z$10 and Z$20 denominations circulated, replaced three decades later by bills in the thousands and ultimately in the millions and trillions as the government sought to prop up a weakening economy amid spiraling inflation.
Shortly after the Z$100 trillion note began circulating, the Zimbabwean dollar was officially abandoned in favor of foreign currencies. From 2007 to 2008, the local legal tender lost more than 99.9 percent of its value. This marked a reversal of fortune from independence, when the value of one Zimbabwe dollar equaled US$1.54. Zimbabwe&rsquo;s extreme and uncontrollable inflation made it the first&mdash;and so far only&mdash;country in the 21st century to experience a hyperinflationary episode.
Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent&rsquo;s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.
What is hyperinflation?
Hyperinflation is defined as beginning when monthly inflation rates initially exceed 50 percent. It ends in the month before the rate declines below 50 percent, where it must remain for at least a year. Zimbabwe entered the hyperinflationary era in March 2007; the period ended when the nation abandoned its currency in 2009.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/biotmeric-payments-are-here-mastercard-will-soon-let-you-pay-with-your-face-1652843304815" target="_blank">Biometric payments are here! Mastercard will soon let you pay with your face</a>
Causes of hyperinflation&nbsp;in Zimbabwe
<ul>
<li>Government printing money in response to:High national debt</li>
<li>Decline in economic output</li>
<li>Decline in export earnings</li>
<li>Price controls that exacerbate shortages</li>
<li>Lack of confidence in government, economy and political life</li>
</ul>

Barely recovered from a two-year bout of Covid, emerging markets, and now capital flight. Inflation in Turkey has surged to a two-decade high of 69.97% in April. 
Skyrocketing prices have placed significant pressure on households and ramped up criticism of President Recep Tayyip Erdogan, whose unconventional economic policies are often blamed for the economic turmoil.
In April, the bank kept its benchmark interest rate steady for the fourth consecutive month, bowing to pressure despite high inflation.
Russia’s invasion of Ukraine, which led to a surge in gas, oil and grain prices, has compounded the situation in import-reliant Turkey. The biggest price increases in Turkey last month were in the transportation sector, at 106%, followed by food and non-alcoholic beverage prices at 89%, according to the data.
The Turkish Statistical Institute said consumer prices rose by 69.97 per cent in April compared with the previous year, the biggest year-over-year increase since 2002. The annual inflation rate was up from 61.14 per cent in March. 

Turkey: economic pain continues as inflation accelerates to 70%

Shocking Inflation: This country has a 70% inflation rate

Turkey's cost of living crisis is growing after official data showed that inflation in the country rose to nearly 70%

Turkey is facing the highest prices in over 20 years as inflation soared to an unimaginable 70% in April and yet there is little in the arsenal to fight runaway inflation.&nbsp;Despite soaring prices President Recep Tayyip Erdogan, who is a self proclaimed enemy of rate hikes, has insisted that the central bank keeps rates unchanged. This easy money policy while the global market changed course has led to a crisis in the currency, which lost as much as half its value against the dollar in a matter of weeks in December. Despite some stability the value of the Lira is down 12% vs the dollar in the year so far.&nbsp;
Also read/watch|&nbsp;<a title="Shocking Inflation: This country raised prices of basic staples by 300%&nbsp;" href="https://www.editorji.com/business-news/economy/shocking-inflation-this-country-raised-prices-of-basic-staples-by-300-1652423177372">Shocking Inflation: This country raised prices of basic staples by 300%&nbsp;</a> The biggest price increases in April were in the transport sector, standing at 105.9%, while the prices of food and non-alcoholic drinks jumped 89.1%.
Turkey&rsquo;s financial crisis has been further compounded by Russia&rsquo;s invasion of&nbsp;Ukraine, which has driven up prices, particularly for wheat. The loss of Ukrainian supplies has left it scrambling to find alternatives. For the first time, Turkey has placed orders for 50,000 tonnes of wheat imports from India and reports indicate&nbsp;has started to buy wheat through private electronic-mandi&nbsp;as the price of 'atta' touches a record high even in India.&nbsp;

Iran abruptly raised prices as much as 300% for a variety of staples such as cooking oil, chicken, eggs and milk on Thursday.
Scores of alarmed Iranians waited in long lines to snatch up bundles of food and emptied supermarket shelves across the country in the hours before the price hike took effect.
With the price of flour already up tenfold, the latest move was likely to cause more hardship for many Iranians.
On Thursday, Iran's currency dropped to a low of 300,000 rial to the dollar.
Food prices across the Middle East have surged due to global supply chain snarls and Russia's invasion of Ukraine, which both export many essentials.
Iran imports half of its cooking oil from Ukraine, where fighting has kept many farmers from the fields.
Although Iran produces roughly half of its own wheat, the war has added to inflationary pressures.

Shocking Inflation: This country raised prices of basic staples by 300% 

Scores of alarmed Iranians waited in long lines to snatch up bundles of food

Iran abruptly raised prices as much as 300% for a variety of staples such as cooking oil, chicken, eggs and milk on Thursday.
Scores of alarmed Iranians waited in long lines to snatch up bundles of food and emptied supermarket shelves across the country in the hours before the price hike took effect.
With the price of flour already up tenfold, the latest move was likely to cause more hardship for many Iranians.
Also read/watch|&nbsp;<a title="Terra's Terror: Crypto reality strikes; outrage as LUNA coin disappears" href="https://www.editorji.com/business-news/terra-s-terror-crypto-reality-strikes-outrage-as-luna-coin-disappears-1652421871975">Terra's Terror: Crypto reality strikes; outrage as LUNA coin disappears</a>
On Thursday, Iran's currency dropped to a low of 300,000 rial to the dollar.
Food prices across the Middle East have surged due to global supply chain snarls and Russia's invasion of Ukraine, which both export many essentials.
Iran imports half of its cooking oil from Ukraine, where fighting has kept many farmers from the fields.
Although Iran produces roughly half of its own wheat, the war has added to inflationary pressures.

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LPG Price Hike 

In a bid to clamp down on economic offenders and prevent them from fleeing the country, the government has reportedly prepared a list of 20 names requesting the Intelligence Bureau to restrict their travel. Reports suggest the latest to receive the setback is DHFL as the Ministry of Housing Affairs has issued a look-out notice against the promoters in an alleged connection to financial fraud. A report earlier this year had alleged the DHFL routed ₹31,000 crore from ₹91,000 crore bank loans through shell companies. However, DHFL has refuted the claims. 

The Modi govt has come out guns blazing to reduce the pressure of prices on the common man with a hat trick of measures ranging from fuel, cooking gas to fertilizer subsidy. Excise duty cut Pulling down record high prices at the fuel pump, the Finance Minister announced a reduction of central excise duty on Petrol by Rs 8 per litre and on diesel by Rs 6 per litre.This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre.LPG cylinder becomes cheaperAs domestic cooking gas cylinder prices topped Rs 1000 all over the country, the govt announced a reduction of Rs 200/cylinder for up to 12 cylinders under the Pradhan Mantri Ujjwala Yojana. This reverses all the price hikes on LPG cylinders since 2021. Since April 2021, prices had risen by Rs 193.5 per cylinder.Fertilizer subsidy boostedFarmers were facing severe pressure as fertilizer prices surged due to the war in Ukraine and had appealed for relief which the govt is delivering with a boost in fertilizer subsidy. The FM tweeted that  in addition to the fertilizer subsidy of ₹ 1.05 lakh crore in the budget, an additional amount of ₹ 1.10 lakh crore is being provided to further cushion the farmers.

Govt's mega attack on inflation: food, fuel, farm big cut in prices 

<div class="elementToProof" style="margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: #000000; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: inherit;">With inflation touching multi-year highs, the Narendra Modi government announced a 3-pronged strategy to provide relief to common citizens.</div>

The Modi&nbsp;govt has come out guns blazing to reduce the pressure of prices on the common man with a hat trick of measures ranging from fuel, cooking gas to fertilizer subsidy.&nbsp; <a href="https://www.editorji.com/business-news/economy/petrol-diesel-prices-cut-modi-govt-reduces-excise-duty-as-fuel-costs-reach-historic-highs-1653139305695">Excise duty cut</a> Pulling down record high prices at the fuel pump, the Finance Minister announced a reduction of&nbsp;central excise duty on Petrol by Rs 8 per litre and on diesel by Rs 6 per litre.This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre. LPG&nbsp;cylinder becomes cheaper As domestic cooking gas cylinder prices topped Rs 1000 all over the country, the govt announced a reduction of Rs 200/cylinder for up to 12 cylinders under the&nbsp;Pradhan Mantri Ujjwala Yojana. This reverses all the price hikes on LPG&nbsp;cylinders since 2021.&nbsp;Since April 2021, prices had risen by Rs 193.5 per cylinder. Fertilizer subsidy boosted Farmers were facing severe pressure as fertilizer prices surged due to the war in Ukraine and had appealed for relief which the govt is delivering with a boost in fertilizer subsidy. The FM tweeted that&nbsp; in addition to the fertilizer subsidy of ₹ 1.05 lakh crore in the budget, an additional amount of ₹ 1.10 lakh crore is being provided to further cushion the farmers.

Finance Minister Nirmala Sitharaman also said the government will give Rs 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.
A 14.2-kg LPG cylinder costs Rs 1,003 in the national capital. Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts and the effective price for them would be Rs 803 per 14.2-kg cylinder.
ALSO WATCH | Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs

₹200 per LPG cylinder subsidy for Ujjwala Yojana beneficiaries announced by Modi govt: watch for details

A 14.2-kg LPG cylinder costs Rs 1,003 in the national capital. Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts and the effective price for them would be Rs 803 per 14.2-kg cylinder.

LPG cylinders made cheaper by Rs 200 by the govt, here are the details

Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts.

Finance Minister Nirmala Sitharaman also said the government will give Rs 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.
A 14.2-kg LPG cylinder costs Rs 1,003 in the national capital. Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts and the effective price for them would be Rs 803 per 14.2-kg cylinder.
ALSO WATCH | <a href="https://www.editorji.com/business-news/economy/petrol-diesel-prices-cut-modi-govt-reduces-excise-duty-as-fuel-costs-reach-historic-highs-1653139305695" target="_blank">Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs</a>

Diesel and petrol prices slashed in a big relief to the common man as the Modi government cut excise duty on fuel. Central govt reduced the duty on Petrol by Rs 8 per litre and on diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre with immediate effect. This is the second cut in excise duty by the central govt in less than a year. Collective cut in excise Rs 13 on petrol and Rs 15 on diesel, this cut now reverses the govts hike in excise that it did in 2020The move will have revenue implication of around Rs 1 lakh crore per year for the government.
 

Govt cuts excise duty sharply, petrol and diesel to be cheaper

This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre with immediate effect.

Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs

"This will reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre," Finance Minister Nirmala Sitharaman&nbsp;tweeted

Diesel and petrol prices slashed in a big relief to the common man as the Modi&nbsp;government cut excise duty on fuel. Central govt reduced the duty on Petrol by Rs 8 per litre and on diesel by Rs 6 per litre.&nbsp; This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre with immediate effect. This is the second cut in excise duty by the central govt in less than a year. Collective cut in excise Rs 13 on petrol and Rs 15 on diesel, this cut now reverses the govts hike in excise that it did in 2020.
ALSO WATCH | <a href="https://www.editorji.com/india-news/200-per-lpg-cylinder-subsidy-for-ujjwala-yojana-beneficiaries-announced-by-modi-govt-watch-for-details-1653143465782" target="_blank">₹200 per LPG cylinder subsidy for Ujjwala Yojana beneficiaries announced by Modi govt</a> The move will have revenue implication of around Rs 1 lakh crore per year for the government.
&nbsp;

CNG&nbsp;Price Hike Latest News:&nbsp;CNG price increased by Rs 2 per kg in Delhi and NCR.&nbsp;CNG is now priced at Rs 75.61 per kg in Delhi, Rs 78.17 per kg in Noida, while in Gurugram, it will cost Rs 83.94 per kg. This is the second hike in CNG&nbsp;in less that a week.The price of CNG&nbsp;has been adding considerable pressure on budgets.&nbsp;This is the fourth price hike this month and the 12th since March 7. In all, CNG price has risen by Rs 17.6 per kg in less than six weeks. This includes a&nbsp;₹9.50 per kg hike in the last month along.&nbsp;In the last one year, prices have increased by&nbsp;₹30.21 per kg or 60%.&nbsp;Rising CNG&nbsp;prices has led to pressure on auto drivers in the capital region as well and the unions have demanded a fare revision. As per reports a Delhi government committee tasked with fare revision of auto-rickshaws and taxis is likely to recommend a proportionate increase in fares soon.&nbsp;

CNG Price Hike: CNG price increased by Rs 2 per kg in Delhi, second hike in less than a week

This is the fourth price hike this month and the 12th since March 7. In all, CNG price has risen by Rs 17.6 per kg in less than six weeks

CNG prices hiked again! Here are the latest prices

In the last one year CNG prices are up over 60% due to high international gas prices

CNG&nbsp;Price Hike Latest News:&nbsp;CNG price increased by Rs 2 per kg in Delhi and NCR.&nbsp;CNG is now priced at Rs 75.61 per kg in Delhi, Rs 78.17 per kg in Noida, while in Gurugram, it will cost Rs 83.94 per kg. This is the second hike in CNG&nbsp;in less that a week. The price of CNG&nbsp;has been adding considerable pressure on budgets.&nbsp;This is the fourth price hike this month and the 12th since March 7. In all, CNG price has risen by Rs 17.6 per kg in less than six weeks. This includes a&nbsp;₹9.50 per kg hike in the last month along.&nbsp;In the last one year, prices have increased by&nbsp;₹30.21 per kg or 60%.&nbsp; Rising CNG&nbsp;prices has led to pressure on auto drivers in the capital region as well and the unions have demanded a fare revision. As per reports a Delhi government committee tasked with fare revision of auto-rickshaws and taxis is likely to recommend a proportionate increase in fares soon.&nbsp;

Please fasten your seat belts and secure all baggage underneath your seat as Jet Airways is set to return to Skies. 
According to reports, Jet Airways has been granted an air operator certificate, said the head of the Directorate General of Civil Aviation (DGCA), Arun Kumar. This allows the airline to resume commercial flight operations.
The airlines was granted the air operator certificate (AOC) after completing two proving flights.
The new owners of Jet, a consortium of Kalrock Capital and middle east-based businessman Murari Lal Jalan had applied for the security clearance on December 13 last year.

Jet Airways gets DGCA nod, ready to soar skies after three years

Please fasten your seat belts and secure all baggage underneath your seat as Jet Airways is set to return to Skies. 

Jet Airways gets DGCA nod, ready to soar skies after three years 

<div id="ins_storybody" class="sp-cn ins_storybody">
The airline plans to restart commercial flight operations in July-September quarter this year.
</div>

Please fasten your seat belts&nbsp;and secure all baggage underneath your seat as Jet Airways is set to return to Skies.&nbsp;
According to reports, Jet Airways&nbsp;has been granted an air operator certificate, said the head of the Directorate General of Civil Aviation (DGCA), Arun Kumar. This allows the airline to resume commercial flight operations.
Also read/watch| <a title="RBI's ₹30,000 cr payout to the Govt, lowest in nearly a decade" href="https://www.editorji.com/business-news/economy/rbi-s-rs-30-000-cr-payout-to-the-govt-lowest-in-nearly-a-decade-1653050257756">RBI's ₹30,000 cr payout to the Govt, lowest in nearly a decade</a>
The airlines was granted the air operator certificate (AOC) after completing two proving flights.
The new owners of Jet, a consortium of Kalrock Capital and middle east-based businessman Murari Lal Jalan had applied for the security clearance on December 13 last year.

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