CATEGORIES

Uber Technologies posts first annual profit since its IPO

Uber Technologies posted its first full-year profit as a public company last year and projected continued growth in the first quarter of 2024, marking the end of an era in which the ridesharing and food-delivery company gave priority to growth over profits.

Meta shines with strong sales growth, inaugural dividend

Earnings of Meta and other tech giants show strength across the industry as firms benefit from interest in AI

Lenovo sets sight on PLI to build servers

Company to participate in the ₹17,000-cr PLI scheme for IT hardware

Art collection on the rise in India: Christie's

The Asian art market has been remarkably resilient during the pandemic, and has seen a new bunch of young, millennial collectors emerge. This surge is being driven by immense wealth creation that is taking place in the region, reflected by the stock-market boom.

Not in hurry to sell Nabha Power: L&T

Engineering and construction company Larsen and Toubro has yet to attract 1,400-megawatt buyers for its Nabha power plant in Punjab, but is in no hurry to divest the asset, and will wait for the right valuation, said chief financial officer R. Shankar Raman.

Luna reborn in e-avatar, to seek out entry-level buyers

Firm targets customers in small towns who can't afford two-wheelers because of rising prices

Oil India mulls incorporating a subsidiary in GIFT City

State-run Oil India is looking at incorporating a subsidiary at the International Financial Services Centre (IFSC) in GIFT City, Gujarat, said two people with knowledge of the development.

UAE wealth fund plans $4-5 bn investments through GIFT City

Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the United Arab Emirates (UAE), is setting up a $4-5 billion fund to invest in India through a tax-neutral finance hub in Prime Minister Narendra Modi's home state of Gujarat, according to two persons with direct knowledge of the matter.

In SAT, ex-Axis MF's Joshi seeks Sebi files

Viresh Joshi, a former fund manager at Axis Mutual Fund (MF), on Wednesday in his appeal before the Securities Appellate Tribunal sought certain documents from the Securities and Exchange Board of India (Sebi) in a case related to his alleged involvement in front running.

Britannia needs steady volumes

Britannia Industries Ltd's volume recovery in the December quarter (Q3FY24) has been quicker than anticipated. Volume growth is estimated at around 5.0-5.5% year-on-year in the quarter. For perspective, in the three prior quarters, volume growth was in the range of 0-2%. The management's outlook on volumes is bright and it aspires to achieve high single-digit or double-digit growth over the medium term.

Valmo to streamline e-com supply chains

Meesho on Wednesday launched logistics-focused platform Valmo aimed at tackling supply chain inefficiencies in e-commerce deliveries at the lowest cost.

Proparco set for climate tie-ups with Indian VCs

French development agency Proparco is set to tie up with Indian venture capital funds to back climate technology projects and address inequality, Diane.

OTTs face complex ad-scape

Innovative strategies needed for overcoming obstacles in India's unique advertising landscape, say experts

Govt to define middle class for housing scheme beneficiaries

The government will specify income standards, locations and types of accommodation to select beneficiaries for the planned housing scheme for the middle class, two people aware of the matter said.

Petrochem exports face Chinese rivalry

Indian petrochemical exports are expected to face tough competition as the country moves to boost its oil refining and petrochemicals capacity, the head of the International Energy Agency's (IEA) oil industry and markets division warned, with global markets already reeling under rising Chinese shipments.

Centre to monitor quality of Bharat atta, dal, rice

Once certified by QCI, agencies will deploy QR codes and barcoding to ensure quality of food

'Biz pledged ₹1.07 tn of investments under PLI scheme'

Businesses have committed about ₹1.07 trillion of investments under the government's production-linked incentive (PLI) scheme to scale up domestic manufacturing, helping create job opportunities for over 700,000 people, finance minister Nirmala Sitharaman said on Wednesday.

Nationalistic movies face the Gulf wall

Playing on patriotism that served Bollywood well in the past is beginning to hurt when it comes to tapping a key foreign territory: Gulf nations.

Govt to back pvt hospitals abroad

The central government is considering tapping private Indian healthcare majors to develop and operate hospitals and healthcare facilities in foreign countries, particularly in Africa, two people aware of the matter said on the condition of anonymity.

Growth jitters for Cognizant in 2024

Cognizant Technology Solutions Corp. on Wednesday predicted weak revenues for 2024, as businesses cut back on IT spending amid high interest rates and persistent inflation. The company said it may end the year with a revenue of $19-19.8 billion, against $19.8 billion estimated by analysts.

With BB Now, BigBasket on final lap to profitability

Tata Digital-backed BigBasket expects its quick commerce arm the last of its three main businesses still in the red-to become profitable in six months, although the grocery startup's target for overall profitability has been pushed to early 2025.

India on par with rest of world in AI adoption: Nadella

India may have been slow to wake up to the four seismic shifts in technology, but not the fifth: Artificial intelligence (AI).

Govt may tap PSBs for higher dividend

The dividends could help cut down the fiscal deficit in 2024-25

Why India Needs To Get Its Test Selection Right

Despite the vital win in Vizag, India needs to get its selection right in order to register a Test series triumph against England

Anthony Kim and the transcendence of talent in golf

After a 12-year exile, golf's enigmatic star Anthony Kim might make a comeback - and it is one to look forward

The Premier League title race heats up

There's little separating Liverpool, Manchester City and Arsenal

Brace for a brave world: Artificial intelligence vs. human stupidity

One hopes that artificial intelligence will overcome human stupidity but it won't get that chance if we destroy ourselves first

Global geopolitics must not turn unfavourable

India's stake in a stable West Asia is high and our long-term scenario planners must note the risk of US actions that might make Pax Americana' easier for a new rival to overthrow

Health plans: Is it wise to opt for monthly payments?

Many youngsters are opting for monthly or quarterly premium payments, but risks abound

INSIDE BANKS OF THE FUTURE, RUN BY BOTS

Indian banks are using AI to reduce costs and risks. And GenAI pilots are showing promise