Open AI removes CEO Sam Altman after board loses 'confidence' in him
Open AI, the firm that created ChatGPT, on Friday announced its CEO Sam Altman was removed as it has lost confidence in his ability to lead the tech company.
Finance
Lenders disappointed with Jindal's Rs 301 cr bid for debt-laden Future Enterprises
Kolkata: Jindal (India) has bid Rs 301 crore for Future Enterprises, which is less than 3% of the total Rs 12,265-crore loan exposure, rendering it almost inconsequential to lenders, ET reported.
AGI Japan announces strategic investment of Rs 200 cr in Standard Glass Lining Technology
Hyderabad: Asahi Glassplant Inc. (AGI Japan) on Thursday announced a strategic investment of up to Rs 200 crores in Standard Glass Lining Technology Limited and its affiliated companies, marking the initiation of a long-term business partnership.
E-commerce exports may touch $200 billion in 6-7 years: DGFT
New Delhi: The Indian e-commerce export sector has the potential to touch $200 billion in next six to seven years, a top government official said on Friday
UPI IDs not used for one year to be disabled soon
New Delhi: The National Payments Corporation of India (NPCI), which oversees the Unified Payments Interface (UPI), has directed banks and payment applications like Google Pay, Paytm, PhonePe, etc., to disable UPI IDs and numbers associated with customers who have not conducted any transactions for a period of one year or longer.
RBI clears resolution plan for Reliance Capital
Mumbai: The Reserve Bank of India on Friday granted approval to the restructuring proposal for financially troubled Reliance Capital, paving the way for the acquisition of the company by IndusInd International Holdings Ltd (IIHL), a firm within the Hinduja Group.
India's forex reserves shrink by $462 million in the week ending Nov 10
Mumbai: India's foreign exchange reserves declined by $462 million to reach $590.321 billion for the week ending November 10, the Reserve Bank of India said on Friday.
BharatPe co-founder stopped from leaving India at Delhi Airport
New Delhi: Ashneer Grover, co-founder of BharatPe, and his wife Madhuri Jain were detained at the Indira Gandhi International Airport on Thursday based on a lookout circular (LoC) issued against them, ET reported.
Amazon targets $20 billion merchandise export from India by 2025
Amazon aims to achieve $20 billion in merchandise exports from India by 2025, Reuters reported, citing a company official.
JSW Infrastructure gets Letter of Award to develop Karnataka’s Keni Port for Rs 4,119 cr
Mumbai/ Bangalore: JSW Infrastructure, India’s second-largest commercial port company and part of the US$ 23 billion JSW Group, has won the bid for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka on Public Private Partnership (PPP) basis.
Tata Technologies IPO to open on Nov 22; price band fixed at Rs 475-Rs 500 per equity share
Mumbai: The long-awaited initial public offering (IPO) of Tata Motors subsidiary Tata Technologies will open on November 22 and will be available for subscription till November 24.
Union Minister Piyush Goyal interacts with VCs of Indian origin from Silicon Valley, holds meetings with CEOs of Micron Technology & YouTube
San Francisco: Union Minister Piyush Goyal interacted with Silicon Valley entrepreneurs and venture capitalists (VCs) of Indian origin on the third day of his US visit.
India inks deals to export 500,000 metric tons of Basmati rice: Report
New Delhi: India has entered into agreements to export about 500,000 metric tons of newly harvested basmati rice, making the most of the strong demand from key markets in Europe and the Middle East, Reuters reported citing rice traders.
Mines Ministry to support start-ups, MSMEs for research in mineral processing
New Delhi: The Mines Ministry would invite proposals from start-ups, MSMEs and individual innovators to promote research and innovation in mining and mineral processing, according to a statement on Wednesday.
Visakhapatnam Port achieves record 50 MMT cargo handling volume in 2023-24
Visakhapatnam: Visakhapatnam Port Authority (VPA) on Wednesday said it has set a record by handling 50 Million Metric Tonnes (MMT) of cargo handling in just 228 days in FY24.
India's Oct merchandise trade deficit widens to record level as gold imports jump by 95% YoY
New Delhi: India's merchandise trade deficit widened to an all-time high level in October, bolstered by a 95 percent jump in gold imports, the commerce ministry said on Wednesday.
ONGC planning to invest Rs 1 lakh cr to set up two petrochemical plants
Mumbai: India’s leading oil and gas producer and explorer ONGC is planning to invest approximately Rs 1 lakh crore in setting up two petrochemical plants aimed at directly converting crude oil into high-value chemical products, Moneycontrol reported.
Vedanta Group sets up new unit in Saudi Arabia for copper business
Mining multinational Vedanta group has expanded its business with Malco Energy Ltd, its subsidiary, setting up a new establishment in Saudi Arabia for copper business for SAR (Saudi riyal) 1,00,000, media reports said.
RBI directs Bajaj Finance to stop lending under two lending products
Mumbai: The Reserve Bank of India (RBI) on Wednesday directed Bajaj Finance to stop issuing loans under its two products eCOM and Insta EMI Card.
India planning to invite bids for $960 million incentive programme to manufacture electric vehicle batteries
India is planning to invite bids for an 80 billion-rupee($960 million) incentive programme to manufacture electric vehicle batteries in the nation, media reports said.
Indian Market closing bell: Sensex jumps up 742.06 pts
The BSE Sensex on Wednesday registered huge gains of 742.06 pts to close high at 65,675.93 on strong global cues.
Indian Market: Sensex moves up over 500 points
The BSE Sensex on Wednesday bounced back 598 points at 65,532.45 in the opening session as buying was seen across the board amid a positive Asian market.
Odisha Cabinet approves Bhubaneswar Metro Rail Project Phase-1
Bhubaneswar: Odisha Cabinet on Tuesday approved the proposal for the construction of Bhubaneswar Metro Rail Project Phase 1 with an estimated cost of Rs 5929.38 crore.
Doyen of the Indian hotel industry The Oberoi Group Chairman emeritus PRS Oberoi dies at 94
Mumbai: Hotel industry veteran Prithvi Raj Singh Oberoi died on Tuesday morning at the age of 94.
Sahara Group founder Subrata Roy dies at 75 after prolonged illness
Mumbai/IBNS: Sahara Group founder Subrata Roy died on Tuesday after a prolonged illness at the Kokilaben Hospital in Mumbai. He was 75.
'8.30% FERT CO GOI SPLBOND 2023' to be paid in full on Dec 7
New Delhi: The government will repay the remaining amount on the '8.30% FERT CO GOI SPLBOND 2023' in full on December 07, 2023, after which no further interest will accrue, the Ministry of Finance said on Tuesday.
Piyush Goyal meets Tesla officials at carmaker's Fremont factory
San Francisco: The Union Minister of Commerce and Industry Piyush Goyal visited the Tesla Factory Unit in Fremont, United States and interacted with the senior executives of the Tesla group, a government statement said.
Ministry of Mines to auction 20 blocks of critical minerals in next two weeks
New Delhi: Mines Secretary V.L. Kantha Rao on Tuesday said that the Ministry of Mines is in the process of auctioning 20 blocks of critical minerals including lithium and graphite in the next two weeks.
Adani Energy Solutions plans to raise $360 million through bonds
Mumbai: Adani Energy Solutions (AESL), formerly known as Adani Transmission, is planning to raise $360 million through bond issuance on a private placement basis, a report in the media said.
India's wholesale inflation remains in negative zone in October
Remaining in the negative zone, India's wholesale inflation dropped to - 0.52% in October 2023, as against - 0.26% in the previous month.