Business
CHENNAI: Shares of companies controlled by billionaire Gautam Adani recorded their biggest weekly losses ever. The six stocks cumulatively lost Rs 1.91 lakh crore ($25.83 billion) of value over five days through Friday. The funds According to a report by the Economic Times on Monday the accounts of three Mauritius-based funds, which are among the … Read more
PUNE: AirAsia India on Friday operated 9 flights with fully vaccinated crew including cabin crew and pilots. The sectors flown by fully vaccinated crew included Bengaluru-Kolkata, Kolkata-Bengaluru, Bengaluru-Chennai, Chennai-Guwahati, Guwahati-Bengaluru, Bengaluru-Pune, Pune-Jaipur, Jaipur-Pune and Pune-Bengaluru, its officials said. The airline has been conducting free inoculation drives for all its eligible all stars and their dependants … Read more
NEW DELHI: The Reserve Bank of India (RBI) on Friday gave in-principle approval to Centrum Financial Services Limited to for takeover of crisis-hit Punjab and Maharashtra Co-operative (PMC) Bank via the small finance bank route. Centrum Financial Services was one of the applicants for takeover of the PMC Bank. The in-principle approval has been granted … Read more
NEW DELHI: Indian digital payments firm Paytm is seeking shareholder approval to sell up to Rs 12,000 crore ($1.62 billion) in new stock in what could be the South Asian country’s biggest-ever initial public offering at a total of $3 billion. Paytm, which counts China’s Alibaba and Japan’s SoftBank as backers, will sell new shares … Read more
SATARA: Having watched his father’s funeral pyre burn by a river bank close to their farm last month, Indian sugarcane grower Dattatray Bagal and his brothers had to set aside grief to count the financial cost of the coronavirus’s impact on their family. They had hoped to buy a tractor for the small farm in … Read more
NEW DELHI: Fuel prices increased again across the country on Friday adding more misery to common man’s woe, as he already grapples with rising food prices amid shrinking income. Petrol prices have reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made … Read more
NEW DELHI: Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of Covid-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States. Carmakers that saw nearly a decade of Indian sales growth wiped out in … Read more
BENGALURU: There are some 60 foreign-headquartered companies with revenue over $1 billion each that are today led by Indian-origin executives, according to Indiaspora, a non-profit that seeks to bring together Indian diaspora for collective action. A few of them combine the roles of chairman and CEO, and Satya Nadella has just joined that select group. … Read more
MUMBAI: HDFC Bank on Thursday unveiled its longer term digital banking plans. These involve building a new digital bank, rather than limit the solution to scaling up systems, and increased monitoring to address glitches. Earlier, HDFC Bank had said that it had drawn up short-, medium-, and long-term action plans to address digital banking outages … Read more
NEW DELHI: Indian UHNIs (ultra high net worth individuals) are expected to invest up to $30 billion in tech startups in the country by 2025, reflecting the growing investment opportunity for home-grown tech ventures, a report by 256 Network and Praxis Global Alliance said. The report titled, ‘Turning Ideas to Gold’, also noted that India … Read more