Business and financial news
Zurich (Switzerland): Artificial intelligence (AI) is geared up to change the global labour market in a significant manner, compared to a “tsunami” by International Monetary Fund Managing Director Kristalina Georgieva, media reported.
Mumbai: Amazon Seller Services' US parent company has injected a new equity investment of Rs 1,660 crore ($199 million) into the firm that operates Amazon's marketplace in India, according to a regulatory filing.
New Delhi/IBNS: There has been no shortage of pessimism regarding economic and trade relations between India and China, as Chinese companies are bearing the brunt of the most severe crackdown due to New Delhi's "tendency to generalize security issues in its China trade policy", though the latest data may indicate a different trend, serving as a reminder not to overlook the complementary strengths of both economies, according to a report by the Chinese Communist Party (CCP)-owned Global Times.
Mumbai/IBNS: India's retail inflation slightly eased to an 11-month low of 4.83 percent in April, compared to 4.85 percent recorded in the previous month, as prices of some kitchen items dropped though overall food basket firmed up marginally, according to a government data released on Monday (May 13).
The country’s largest commercial bank, State Bank of India (SBI) has announced that it has secured the distinction of being the first bank to become a Trading cum Clearing (TCM) Member at India International Bullion Exchange.
New Delhi/IBNS: Replacing the United States, China has become the largest trading partner of India for the fiscal year 2023-24, reports said.
Automobile manufacturer TVS Motor Company on Monday launched a new variant of the TVS iQube with 2.2 kWh battery.
New Delhi: Amid increasing demand for defence equipment, technologies, and services, India's defence sector holds a substantial ordering prospect of nearly USD 138 billion from FY24 to FY32 for companies involved in defence production and technology advancement, according to a report titled 'India Defence' by Nomura.
New Delhi: The government has implemented sufficient measures to address the projected peak power demand of 235 GW in May and 240 GW in June, an official statement said.
Mumbai: Auto giant Tata Motors has said it expects a slow FY25 beginning due to a drop in probable local passenger vehicle (PV) demand during the ongoing Lok Sabha elections, media reports said.
Mumbai/IBNS: Aiming at avid steamers, Reliance Jio has unveiled a new Rs 888 monthly plan offering unlimited data and access to 15 major over-the-top (OTT) platforms, including Netflix basic subscription.
New Delhi: India’s industrial production growth in March slowed slightly, reaching 4.9 percent month-on-month, according to official data.
Kolkata: Kalyan Jewellers India Limited recorded a consolidated revenue of Rs 18,548 crore in FY24 as against Rs 14,071 crore in the previous year, a growth of 32%. Consolidated PAT for FY24 was Rs 596 crore.
Google CEO Sundar Pichai has said that the majority of the layoffs in the company would happen in the first six months of 2024, during an all-hands meeting, media reported.
Mumbai: Leading auto manufacturer Tata Motors on Friday reported a consolidated net profit of Rs 17,407.18 crore in the final quarter of the financial year 2023-24 (FY24), a massive 222 percent YoY growth.
Mumbai/IBNS: India will again delay caps on market share for a popular digital payments method, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration, Reuters reported quoting its sources.
Mumbai: Domestic benchmark indices opened higher on Friday, buoyed by strong global cues.
Mumbai: Pharma giant Cipla’s consolidated net profit grew 79% rising to Rs 939.04 crore in Q4 FY24 over Q4 FY23.
Mumbai: State-run lender Bank of Baroda on Friday said its standalone net profit reached Rs 4,886.49 crore in Q4FY24, up 2.3% compared to Rs 4,775.33 crore in the year-ago period.
Mumbai/IBNS: JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade, Bloomberg reported quoting Gloria Kim, the firm’s global head of index research.
New Delhi: Public sector lender Punjab National Bank (PNB) Thursday reported an impressive growth in net profit 159.8% YoY in its net profit to Rs 3,010.27 crore in Q4FY24 from Rs 1,159 crore in Q4 FY23.
Beijing: Tesla has increased job cuts in China as billionaire Elon Musk struggles to recover lost market share in the world’s biggest auto market, reported Bloomberg.
New Delhi: India’s Technical Textiles market has a huge potential backed by a significant growth rate of 10% and placement as the 5th largest technical textiles market in the world, said Rachna Shah, Secretary, Ministry of Textiles while addressing a symposium on Thursday.
Mumbai: Bharat Petroleum posted the highest ever standalone net profit of Rs. 26,673.50 crores in FY24 as compared to the profit of Rs 1,870.10 crores in FY 22-23.
New Delhi: The National Payments Corporation of India (NPCI), responsible for managing the Unified Payments Interface (UPI), is likely to limit market share for digital payment platforms two years later, according to Reuters.
Mumbai: India’s largest lest lender State Bank of India (SBI) on Thursday reported net profit of Rs 20,698 crore, marking a 24 percent year-on-year increase for the fourth quarter of FY 24.
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
Kolkata: Bridgestone India has launched the Dueler All-Terrain (A/T) 002 tyre with enhance grip and stability.
Gold's value has historically surged during geopolitical and economic upheavals, and recent events like Russia's invasion of Ukraine and the conflict in Gaza have further boosted its price.
New Delhi: The Sixteenth Finance Commission has invited suggestions and views from the public, organizations, and individuals regarding its terms of reference and overall approach.
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