India intensifies efforts to reduce trade deficit with Russia; focuses on exports
New Delhi: The Union Commerce Ministry has intervened to address the increasing trade deficit between India and Russia, media reports said.
IBNS•May 11, 2023
Finance
Business and financial news
SoftBank offloads 2% stake in Paytm parent One97 Communications
Multinational investment firm SoftBank Thursday communicated to the bourses that it has offloaded a little more than 2 percent stake in One97 Communications Limited, the parent company of Paytm, in compliance with the SEBI regulations, Moneycontrol reports said.
IBNS•May 11, 2023
HireMee wins Future Ready organisation award by HRworld
Bengaluru: Talent acquisition and talent management startup, HireMee, has been named as the Future Ready organization among young Indian startups for its innovative approach towards talent identification, talent management and commitment towards preparing the workforce for the future by ET HRWorld.
IBNS•May 11, 2023
Ujjivan Small Finance Bank Q4FY23 PAT jumps 145% to Rs 310 cr
Kolkata: Ujjivan Small Finance Bank on Thursday reported a Profit After Tax (PAT) of Rs 310 crore for Q4FY23 and Rs1,100 crore for the entire fiscal year, marking its best-ever performance owing to the bank's effective strategies and successful implementation of its business plan, according to a statement.
IBNS•May 11, 2023
Pakistani rupee tumbles to record low amid widespread unrest after Imran Khan's arrest
Amid widespread unrest in Pakistan following former prime minister Imran Khan’s arrest on Tuesday, its currency tumbled to a new record low as the country’s army stepped in to quell violent protests, Bloomberg reported.
IBNS•May 11, 2023
EOW of Delhi Police registers FIR against BhartPe co-founder Ashneer Grover in fraud case
New Delhi: The Economic Offences Wing of the Delhi Police has filed an FIR against BharatPe cofounder his wife Madhuri Jain Grover, family members, and others for allegedly committing various crimes involving fraud, forgery, cheating and breach of trust, media reports said.
IBNS•May 11, 2023
Go First may start services soon after NCLT approves insolvency plea: Report
Mumbai: Cash-strapped budget carrier Go First may resume regular flights soon as it plans to go business as usual after the National Company Law Tribunal (NCLT) gave its nod to the company’s insolvency plea, paving the way for the airline’s revival.
IBNS•May 11, 2023
Dr Reddy's Q4FY23 consolidated PAT jumps 996 pc YoY to Rs 959 cr
Hyderabad: Hyderabad-based Pharma giant Dr Reddy’s Lab on Wednesday reported a consolidated net profit of Rs 959 crore for the fourth quarter ended March 2023, up 996 percent over Rs 87.5 crore reported in the corresponding quarter in the previous year.
IBNS•May 11, 2023
Piyush Goyal, Canadian counterpart Mary Ng review progress of India-Canada FTA
New Delhi/Ottawa: Union Commerce Minister Piyush Goyal, who is visiting Canada, co-chaired the 6th India- Canada Ministerial Dialogue on Trade and Investment (MDTI) along with his Canadian counterpart Mary Ng, during which they reviewed the progress in the Free Trade Agreement negotiations.
IBNS•May 11, 2023
Hindenburg-Adani issue: Expert panel submits report to SC in sealed cover
New Delhi: The six-member expert committee formed by the Supreme Court to investigate the allegations levelled by US short-seller Hindenburg Research against Gautam Adani’s ports to power conglomerate Adani Group, has submitted its report to the top court in a sealed cover recently.
IBNS•May 11, 2023
L&T appoints company veteran S N Subrahmanyan as CMD; A M Naik to be Chairman Emeritus
Mumbai/IBNS: The Board of Directors of Larsen & Toubro on Wednesday appointed S N Subrahmanyan as Chairman and Managing Director with effect from October 1, 2023.
IBNS•May 11, 2023
L&T Consolidated Q4FY23 PAT grows 10 YoY to Rs 3,987 crore; final dividend of Rs 24 per equity share announced
Mumbai/IBNS: Engineering major Larsen & Toubro on Wednesday posted a total Consolidated Profit After Tax (PAT) of Rs10,471 crore, registering a robust growth of 21% compared to the previous year.
IBNS•May 11, 2023
India's Apr 2022- Feb 2023 mineral production rises 5.7% y-o-y
New Delhi/IBNS: India’s index of mineral production of the mining and quarrying sector for the month of February 2023 stood at 129.0, up 4.6% as compared to the level of February 2022,
IBNS•May 10, 2023
Godrej Consumer Products Ltd Q4FY23 net profit grows 25 pc y-o-y to Rs 452 cr to
Mumbai: FMCG company Godrej Consumer Products Limited (GCPL) on Wednesday reported a consolidated O4FY23 net profit of Rs 452 crore, up 24.5 percent year-on-year.
IBNS•May 10, 2023
Nitin Gadkari reviews progress of Kaziranga elevated road project
New Delhi/IBNS: Union Minister for Road Transport and Highways Nitin Gadkari said a review was conducted Wednesday on the progress of the Kaziranga Elevated Road project.
IBNS•May 10, 2023
Paytm Payments Bank announces next gen features like UPI Lite
Kolkata: Paytm Payments Bank has announced a slew of new launches for Paytm UPI.
IBNS•May 10, 2023
Air India unveils refreshed website featuring in-house design, technology upgrade
New Delhi: Indian airline major Air India, which is a Star Alliance member, on Wednesday announced a major technology upgrade and design refresh to its website www.airindia.com, with the objective of providing its domestic and global customers with an easy-to-use, informative digital channel.
IBNS•May 10, 2023
Tork Motors enters Telangana with its first experience zone
Hyderabad: India’s first electric motorcycle manufacturer, Tork Motors expands its reach to Telangana with their first Experience Zone - Laxmi E-Mobility in Hyderabad.
IBNS•May 10, 2023
Twitter to add calls and encrypted messaging, confirms Elon Musk
New York: Twitter will soon add encrypted messaging to the platform, its chief Elon Musk said.
IBNS•May 10, 2023
Axis Bank enables RuPay Credit Card support on UPI
Mumbai: India’s third largest private sector bank Axis Bank on Monday announced that it has successfully enabled RuPay Credit Card support on UPI.
IBNS•May 10, 2023
India, Myanmar jointly launch Sittwe Port; halves Kolkata-Agartala-Aizawl transit
New Delhi/IBNS: India and Myanmar on Tuesday jointly inaugurated the Sittwe Port in Myanmar’s Rakhine State, marking a major milestone in enhancing bilateral and regional trade.
IBNS•May 10, 2023
PepsiCo, Star Cement India, Varun Beverages among 9 companies to sign MoUs with Assam; investment worth Rs 8201 cr expected
Guwahati: Assam on Tuesday inked Memorandum of Understandings (MoUs) with nine companies that are estimated to bring private investments to the tune of Rs 8201.29 crore.
IBNS•May 10, 2023
India bans apple imports except from Bhutan
New Delhi: The Centre has imposed a ban on apple imports that have a Cost, Insurance, and Freight (CIF) import price equal to or lower than Rs 50 per kilogram as it altered the import policy from "free" to "prohibited".
IBNS•May 10, 2023
Byju's likely to secure $1 billion in funding amid funding winter: Report
Bengaluru: Ed-tech firm Byju's is preparing to secure a substantial funding round of $1 billion through a combination of equity and structured instruments, Moneycontrol reported.
IBNS•May 10, 2023
Federal Bank goes live with electronic Bank Guarantee in partnership with NeSL
Mumbai: Federal Bank has gone live with NeSL for the issuance of electronic Bank Guarantee facility.
IBNS•May 09, 2023
Tripura signs MoUs worth Rs 312.38 crores to boost to industrial sector
Agartala/IBNS: The State Level Investment Round Table (I&C) meeting held at Pragya Bhavan witnessed the signing of MoUs worth Rs 312.38 crores by eight industrialists in the presence of Chief Minister Manik Saha.
IBNS•May 07, 2023
6 members of a family, including 3 women, shot dead Madhya Pradesh's Morena dist
Morena (MP): Six members of a family, including two women, were shot dead, while two others were injured over a decade-old land dispute in Madhya Pradesh’s Morena district, media reports said.
IBNS•May 05, 2023
A Chat on Online Gambling and Gaming Laws in India
During a conversation between Felicia Wijkander, Editor in Chief at SevenJackpots and Uday Walia, Partner at Touchstone Partners, a leading law firm in India working with complex topics such as cross-border advice and foreign investments, they discussed the latest updates on online gambling and gaming laws in India.
IBNS•May 05, 2023
Federal Bank Q4 net profit jumps 67 pc to Rs 903 crore
Mumbai: Private sector lender Federal Bank on Friday reported a 67% year-on-year rise in net profit to Rs 903 crore for the January-March quarter (Q4) of the financial year 2022-23.
IBNS•May 05, 2023
PM Modi to attend Bastille Day Parade in Paris as guest of honour
New Delhi: Prime Minister Narendra Modi will be travelling to France to attend the Bastille Day Parade in Paris as a guest of honour on July 14.
IBNS•May 05, 2023
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