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iPhone tops China smartphone market for first time

APPLE'S IPHONE WAS the top-selling smartphone series in China for the first time last year, a surprisingly strong showing in the face of fierce local competition and expanding government prohibitions against the American company's technology.

Boeing blocked from building more 737s

Largest MAX variant was grounded earlier this month

Unabated FPI selloff leads to $4-bn exit in seven sessions

FOREIGN PORTFOLIO INVESTORS (FPIs) continue to be on a selling spree, recording seven straight sessions of net outflows as of Thursday. A net $4 billion has been withdrawn in seven sessions.

Cash-strapped banks place ₹3-trn bids at VRR auction

THE RESERVE BANK of India (RBI) received bids worth ₹3.08 trillon from banks against the notified amount of ₹2.5 trillion at the variable rate repo (VRR) auction held on Friday, reflecting high demand for cash from lenders amid tight liquidity.

Vedanta's net profit falls 18.3% in Q3

MINING MAJOR VEDANTA (VEDL) has posted an 18.3% fall in its consolidated net profit at ₹2,013 crore for the quarter ended December,influenced by weak prices of zinc and aluminium and higher finance costs.

JSW Steel sees five-fold jump in net profit in Q3

JSW STEEL HAS reported a five-fold increase in consolidated net profit at ₹2,415 crore for the December quarter, beating Street estimates, driven by robust demand in the country.

Khazanah in talks to lead Oyo's $400 million fund raise

KHAZANAH NASIONAL BERHAD, the sovereign wealth fund of Malaysia, is in discussions to lead a $400 million funding round in Oyo Hotels & Homes, according to people familiar with the matter.

Swiggy to lay off around 400 on road to listing

FOOD-DELIVERY STARTUP Swiggy is likely to fire 400 employees or nearly 7% of its workforce, sources said, adding to the list of tech startups that are handing out pink slips at the start of the year.

Zee calls off $1.5-billion ICC TV deal with Disney

May increase its legal woes, Say analysts

Commerce min backs lower import tariffs on gold bars

THE COMMERCE MINISTRY has backed a long-standing demand from the jewellery industry to reduce import tariffs on gold bars, government and industry officials said, amid concern the duties were further harming the country's faltering jewellery exports.

Demand for refined oil items may see a modest 3% growth

The country's demand for petroleum products, including aviation turbine fuel, diesel, LPG, among others is likely to grow to 239 MT in the next financial year

Govt borrowings may stay flat in FY25

THE GOVERNMENT MAY keep its gross market borrowing for 202425 close to this fiscal's level, according to two government sources, as it looks to rein in its borrowings that have more than doubled, mainly due to pandemic spending.

More measures in the works to rein in coal imports

AFTER TARGETING TO eliminate imports of substitutable coal by FY26, the government will now encourage imported coal-based power plants to make capital investments to run on domestic fuel.

Social sector schemes nearing saturation: FM

AHEAD OF THE interim Budget on February 1, finance minister Nirmala Sitharaman on Thursday said the government will \"do everything\" for the economic uplift of the poor, farmers, women and youth.

Two mega defence deals in focus as Modi, Macron meet

PRIME MINISTER NARENDRA Modi and French President Emmanuel Macron on Thursday held wideranging talks at a 19th century palace that showcases Jaipur's royal heritage to further consolidate bilateral strategic engagement

Lenders file insolvency plea against Byju's

TROUBLE SEEMS TO be mounting for Byju's, with two more insolvency petitions filed against the edtech startup.

Two-wheeler exports in troubled waters

FREIGHT RATES AND shipment time to Latin America and Africa key markets for Indian twowheeler makers such as Bajaj Auto and TVS Motor Company - have doubled due to the shipping crisis in the Red Sea.

Can Gill and Iyer fill the Virat-void?

ON TUESDAY, SHUBMAN Gill was named India's men cricketer of 2023. On Wednesday, a day before India's first Test against England, he turned up for a full-on nets session at the Rajiv Gandhi International Stadium in Hyderabad.

Bonds set for $100-bn foreign flows: HSBC

INDIAN BONDS ARE likely to attract about $100 billion of foreign inflows in the coming years, lured by the global bond index inclusion, according to HSBC Asset Management.

Saudi Arabia prepares to open first alcohol store for envoys

Customers will have to register via a mobile app, get a clearance code from the foreign ministry, and respect monthly quotas with their purchases

Tesla plans to manufacture new e-vehicles in mid-2025

TESLA HAS TOLD suppliers it wants to start production of a new mass market electric vehicle codenamed \"Redwood\" in mid-2025, according to four people familiar with the matter, with two of them describing the model as a compact crossover.

SAP to restructure 8,000 jobs in push towards AI-led biz

SHARES OF SAP SE jumped 7% to an all-time high after the German software firm forecast growth in cloud revenue and said it will restructure roles for 8,000 jobs to focus on growth in artificial intelligence (AI)driven business areas.

Indices gain heavyweights, gain on buying in global cues

INDIAN EQUITIES HALTED their two-session losing run to stage a smart recovery on Wednesday, spurred by buying in heavyweights HDFC Bank and Reliance Industries.

Liquidity deficit at a 14-year high of ₹3 trn

THE BANKING SYSTEM liquidity deficit breached the 3-trillion mark to hit a 14-year high, pushed by lower government spending, outflow towards tax payments and sluggish growth in deposits.

Fronx fastest new model to reach 100K sales mark

MARUTI SUZUKI'S CROSSOVER SUV, the Fronx, has become the fastest-ever all-new model to reach the 100,000-unit sales mark.

Premji gifts Wipro shares worth ₹500 crore to sons

AZIM PREMJI, FOUNDING chairman of Wipro, last week gifted a little over 10 million Wipro shares to his sons Rishad and Tariq. The gifted shares are valued at about ₹500 crore.

Birlasoft's profit rises 11% in Q3 to ₹161 cr

BIRLASOFT'S NET profit grew by 11% quarter on quarter (q-oq) to ₹161 crore in the third quarter of FY24. The IT firm's net profit in the preceding quarter was ₹145 crore.

Bajaj Auto profit up 37% to ₹2K cr; revenue rises 30%

Strong festive sales and cost management aided growth

After merger fallout, Sony eyes new acquisitions

Setting up company for the future, CEO tells employees

Tata Steel back in black but misses Street estimates

Rides on demand from the domestic market