CATEGORIES

Avendus to wind down its hedge fund business

Avendus Capital on Wednesday said it was shutting down its hedge funds business, and Andrew Holland, who was heading the vertical, is moving out of the firm.

Microsoft Investigates DeepSeek-Tied Group's Access to OpenAI Data

Microsoft Corp and OpenAI are investigating whether data output from OpenAI's technology was obtained in an unauthorized manner by a group linked to Chinese artificial intelligence startup DeepSeek, according to people familiar with the matter.

PSBs May Agree to 20% Haircut on MTNL Loans

They have ₹8,144 cr exposure to troubled telco

Betting On The Budget

Why media and policy circles are abuzz with expectations of big announcements on Saturday

Aditya Birla Housing gets ₹830 cr from IFC

Aditya Birla Housing Finance, a wholly owned subsidiary of Aditya Birla Capital said it has secured an investment of ₹830 crore through non-convertible debentures (NCDs) from the International Finance Corporation (IFC).

Reply 'resign' or face loyalty test: Trump to federal workers

President Donald Trump is offering buyouts to agency employees who don't want to comply with his demands that they return to the office as he looks to reshape the federal workforce in his second term.

NHPC, Andhra govt partner for 6-8 Gw pumped storage projects

India's largest state-owned hydropower producer, NHPC Limited, has partnered with the Andhra Pradesh government to build pumped storage projects (PSPs).

Party autonomy: The soul of arbitration

In a landmark judgment delivered in November 2024, a Constitution Bench of the Supreme Court of India examined the validity of arbitration clauses that allow a party to the dispute to unilaterally appoint the arbitrator(s).

Limited near-term upsides for Hindustan Zinc

Hindustan Zinc's (HZL)'s revenue for the October-December quarter (Q3) of 2024-25 (FY25) was ₹8,650 crore, up 18 per cent year-on-year (Y-o-Y) and 4 per cent quarter-on-quarter (Q-o-Q), on account of higher zinc and silver prices and a strong dollar.

States Chart AI Road Map

Tamil Nadu was among the first states to introduce a comprehensive AI policy focused on ethical and responsible development in 2020.

Risk Appetite for Microfinance Portfolios Among ARCs Not That High

As stress in the wholesale segment has decreased in recent years, asset reconstruction companies (ARCs) have shifted their focus to acquiring distressed retail assets. With rising stress in unsecured retail loans and microfinance, Pallav Mohapatra, MD & CEO of Asset Reconstruction Company (India) (Arcil), spoke with Subrata Panda about how the ARC sector is preparing for the upcoming retail NPA cycle. Edited excerpts:

Unions Call for Exemption of Co-operative Banks' Profit from Income Tax

The banking sector unions, under the aegis of the All India Bank Employees' Association (AIBEA), have sought exemption from income tax on profits of cooperative banks in the upcoming Union Budget to be presented on February 1.

Cabinet okays ₹34,300 cr critical mineral mission

Financial incentives, fast-track approval, mineral pacts with foreign nations planned

ITC Hotels Now Second Most Valued Hotel Scrip

Listed separately on Wednesday, hospitality arm of ITC eyes 200 hotels in next five years

Apple Likely to Support Starlink Satellite Network on iPhones

Surprise Move

AI takes centre stage in policies of states to attract investors

As the dust settles on DeepSeek's achievement, another Chinese company, Alibaba, on Wednesday claimed that its latest version of the Qwen 2.5 AI model has surpassed the compatriot's DeepSeek-V3.

Decentralising industries, rural jobs key priorities

Stressing that this is the right time to invest in Odisha to help realise Prime Minister Narendra Modi's vision of Viksit Bharat by 2047, Chief Minister MOHAN CHARAN MAJHI talks to Ramani Ranjan Mohapatra on the sidelines of the \"Utkarsh Odisha - Make in Odisha Conclave\" in Bhubaneswar about the schemes implemented by his seven-month-old government, and outlines his priorities. Edited excerpts:

Indian Bank earnings jump 32%

Chennai-based lender sees growth in income, deposits, advances

ASML Sees Flood of Orders Amid AI Boom

ASML Holding NV booked more than twice as many orders as analysts expected in the fourth quarter, as the artificial intelligence boom drove demand for its chipmaking machines.

Unveiling the layers of Andaman's Past

It is inspiring to witness how some people are able to make time for their creative pursuits alongside a demanding day job.

Andhra Pradesh to roll out 'WhatsApp governance'

The Andhra Pradesh government is set to introduce 'WhatsApp governance' starting Thursday, enabling people to avail themselves of 161 services through the messaging app, obviating the need to make multiple visits to government offices for procuring documents.

Exporters seek tweaks in SEZ Act, Rodtep extension

Just three days before the Union Budget, the industry has urged Finance Minister Nirmala Sitharaman to extend export-boosting scheme Remission of Duties and Taxes on Exported Products (RODTEP) for Export-Oriented Units (EOUs) and Special Economic Zones (SEZs) till September 30, on a par with exports from the rest of the country.

Glas Trust, Aditya Birla Finance back as Byju's lenders

The National Company Law Tribunal (NCLT) on Wednesday reinstated Glas Trust and Aditya Birla Finance as lenders of cash-strapped edtech firm Byju's.

Isro scores century of missions

The Indian Space Research Organisation (Isro) on Wednesday morning created history by successfully launching their GSLV-F15 and placing NVS-02 into orbit, marking the 100th rocket mission from Sriharikota in Andhra Pradesh.

TMB's bottom line rises 6% to ₹300 cr

Thoothukudi-headquartered Tamilnad Mercantile Bank (TMB) reported a net profit of ₹300.24 crore for the October-December 2024 quarter, up by 6 per cent, driven by continued growth in core lending and deposit businesses, a top official said on Wednesday.

PSBs exposure to MTNL: Discussions within govt underway

Discussions are underway within the government regarding the exposure of Public Sector Banks (PSBs) to MTNL, amidst challenges in the banking sector.

No level playing field in allocations of bilateral rights: Akasa Air to govt

Akasa Air has told the Civil Aviation Ministry that the allocation of bilateral rights does not provide a \"level playing field\", denying new entrants like itself a \"fair opportunity\" to compete with established airlines, such as the Air India group and IndiGo.

Mobile AI apps now $2 bn market led by ChatGPT

OpenAI's ChatGPT is leading a major surge in spending on artificial intelligence (AI) apps and services on smartphones.

Mounting losses

Market correction will test new investors

De Beers plans to grow Forevermark revenue to $100 mn by 2030

De Beers Group will be expanding the presence of its retail subsidiary Forevermark with 15 retail stores in Delhi and Mumbai coming up in this calendar year.