Business and financial news
New York/IBNS: Nobel laureate and chief adviser to Bangladesh's interim government, Muhammad Yunus, acknowledged that the ousting of Sheikh Hasina as the Bangladeshi Prime Minister was part of a carefully orchestrated "design and conspiracy."
New Delhi/IBNS: Zomato co-founder and Chief People Officer (CPO) Akriti Chopra has resigned from her position, ending a 13-year tenure with the company, reports said.
Mumbai/IBNS: Mumbai-headquartered private sector lender IDFC First Bank announced on Friday (Sept. 27) the successful completion of its merger with IDFC Limited, following all necessary shareholder and regulatory approvals, reports said.
New Delhi/IBNS: Leading public sector lender Punjab National Bank (PNB) announced on Friday (Sept. 27) that it has raised Rs 5,000 crore through a Qualified Institutional Placement (QIP).
India topped the global IPO market, with 227 transactions totaling $12.2 billion in the first eight months of 2024, as per data shared by Global Data.
Mumbai: India has made significant progress in infrastructure over the past decade, but more needs to be done in other sectors to enhance local manufacturing and job creation, former RBI Governor Raghuram Rajan said on Thursday.
Mumbai: UBS is in discussions to establish an Indian wealth management joint venture with Mumbai-based 360 One WAM, Reuters reported.
New Delhi: India will not purchase liquefied natural gas (LNG) from Russia's Arctic LNG 2 project, which is under Western sanctions, Reuters reported, citing Oil Secretary Pankaj Jain, who confirmed the development on Friday.
GQG Partners, the asset management firm founded by Rajiv Jain, has agreed to pay $500,000 to resolve allegations brought by the US Securities and Exchange Commission (SEC) regarding violations of whistleblower protection rules, media reports said.
Mumbai/IBNS: Shares of mining giant Vedanta continued their impressive rally on Friday (Sept. 27), marking gains for the fifth consecutive trading session.
Mumbai/IBNS: Gold prices rose slightly in the domestic futures market on Friday (Sept. 27) morning, following positive global trends as investors awaited the release of the US core personal consumption expenditures (PCE) price index data later in the day, reports said.
California/IBNS: Intel and the US government are expected to finalize $8.5 billion in direct funding for the chipmaker by the end of the year, the Financial Times reported, citing sources familiar with the matter.
Mumbai/IBNS: Shares of Tata Power Company surged to a new all-time high of Rs 494.85 on the NSE after Morgan Stanley upgraded its rating on the stock from 'underweight' to 'overweight.'
Mumbai/IBNS: Shares of budget airline SpiceJet surged on Friday (Sept. 27) following the announcement that the low-cost carrier has cleared its Goods and Services Tax (GST) dues amounting to approximately Rs 71 crore.
Star Health Insurance has filed a lawsuit against the social media platform Telegram and a hacker after discovering that sensitive company data was being leaked through the messaging app.
New Delhi: The Central government, in collaboration with the Reserve Bank of India (RBI), announced on Thursday its plan to raise Rs 6.61 lakh crore through market borrowings during the October-March period of the current financial year 2024-25.
San Francisco: ChatGPT creator OpenAI is planning to restructure its core business into a for-profit benefit corporation, which would no longer be under the control of its non-profit board, Reuters reported.
Ahmedabad/IBNS: The International Financial Services Centres Authority (IFSCA) is expected to introduce regulations for listing commercial papers (CPs) and certificates of deposit (CDs) on the GIFT City exchange within the next three weeks, Moneycontrol reported, citing its sources.
Mumbai/IBNS: Australian multinational brokerage firm Macquarie has indicated that HDFC Bank, India’s largest private lender, could see its loan growth dip below 10 percent year-on-year (YoY).
Mumbai/IBNS: Ahead of US Federal Reserve chair Jerome Powell's upcoming speech, gold prices remained steady on Thursday (Sept. 26) but hovered near record highs.
California/IBNS: American artificial intelligence (AI) research company OpenAI's Chief Technology Officer (CTO), Mira Murati, announced her departure from the Microsoft-backed company on the social platform X (formerly Twitter), stating that she intends to "create time and space" for personal exploration.
New Delhi: The share of government health expenditure in India’s GDP has risen from 1.13% in 2014-15 to 1.84% in 2021-22, according to the National Health Account (NHA) estimates for 2020-21 and 2021-22, released on Wednesday.
Mumbai: The National Stock Exchange of India (NSE) has seen its valuation in the private markets double to $36 billion in just four months, driven by investor optimism about a potential initial public offering (IPO) as early as the first quarter of next year, Bloomberg reported.
New Delhi: Investment and production in mobile phone manufacturing under the Production Linked Incentive (PLI) scheme have significantly surpassed expectations, according to Electronics and IT Secretary S. Krishnan, media reports said.
New Delhi: The Supreme Court on Wednesday raised concerns over the National Company Law Appellate Tribunal’s (NCLAT) decision to close insolvency proceedings against ed-tech giant Byju’s following its approval of a Rs 158.9 crore settlement with the Board of Control for Cricket in India (BCCI), according to a media report.
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday called on the Asian Infrastructure Investment Bank (AIIB) to maintain a client-centric approach and assist member countries, particularly low-income nations, in accessing financial resources through technical assistance, media reports said.
Mumbai: Bharti Airtel announced on Wednesday a new AI-powered network solution designed to detect spam calls and messages for its customers.
New Delhi: The central government has extended the import management system for laptops and other IT hardware products by three months, now effective until December 31, 2024.
Chennai/IBNS: Foxconn is planning a $1 billion investment to establish a facility in Tamil Nadu for assembling smartphone display modules, according to a report by The Economic Times.
Mumbai/IBNS: India's leading automaker Tata Motors on Tuesday (Sept. 24) announced the launch of the Nexon iCNG, and additions to the Nexon.ev range with a new 45 kWh battery pack and the flagship Red Hot #DARK edition.
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