CATEGORIES

Credit Suisse saw $69 bn outflows in Ql

Credit Suisse Group AG reported 61.2 billion francs ($69 billion) of outflows in the first quarter and took a large writedown at its wealth management unit, underscoring the challenge for UBS Group AG in retaining key clients and assets after the emergency takeover of its biggest rival

JSW in talks to buy 15% in MG Motor India

MG Motor India, the local arm of SAIC-owned automaker Morris Garages, is in advanced talks to sell close to a 15% stake to Sajjan Jindal-led JSW Group, with a roadmap to list the company on Indian exchanges via an initial public offering, people familiar with the discussions said

India's rollout of 5G at warp speed: Verizon

US-based telecom giant Verizon sees India among its critical markets in the Asia Pacific region, as the South Asian nation rolls out 5G networks at a frenetic pace, said Robert Le Busque, regional vice president of Asia Pacific for Verizon Global Enterprise.

Telcos unlikely to raise tariffs until 2024 general elections

Telecom operators are unlikely to raise tariffs in the current fiscal year due to intensifying competition in the postpaid segment and looming general elections, weighing on average revenue per user (ARPU), according to analysts and industry insiders, who expect price hikes to now happen only in FY25

Cement firms get a grip on profitability, but not price

Competition is up with the addition of new capacity, but cooling input costs have helped

'Business interest in quantum already beginning to develop'

On 28 November, Tata Consultancy Services Ltd (TCS), India’s largest IT services company, partnered with Amazon Web Services to set up a quantum computing lab for building applications. On 12 April, TCS announced that it would not cut down on its research and development spending despite an expected industry-wide tech spending decline in FY24.

Robust earnings, fall in crude price propel Sensex past 60k

Benchmark indices started the week on a positive note with 60000-Sensex reclaiming mark on Monday as strong quarterly earnings reported by bellwether companies and a downward movement in the crude oil prices supported investor sentiments.

Adani Ports to buy back $130 mn bonds

Mayur Bhalerao & Anirudh Laskar

I-T collection cost falls to 20-year low

The Income Tax department’s cost of tax collection has dropped to around 0.5% of the total taxes collected in FY22, the lowest in more than two decades, amid tech-enabled oversight of economic activity and a widening net of taxes deducted at source (TDS)

India starts evacuating citizens from wartorn Sudan

India has started evacuating its citizens from Sudan, external affairs minister S Jaishankar said on Monday. amid continuing violence between rival armed factions

India rides the green wave as EU, US buy its clean ships

Shipbuilders are close to striking deals with firms in Netherlands, Denmark and West Asia

Indians feel underpaid despite hikes

Indian workers are significantly more likely than their global counterparts to feel underpaid despite receiving among the most generous salary hikes last year, a new survey has found.

India explores power links with Saudi, UAE

Talks are also on with Singapore to connect grids through undersea cable

India has a crucial role in setting international statistical standards

We could use our new membership of the UN Statistical Commission to advocate a widening of the way that GDP is measured

Starship struck a blow for private enterprise

The fiery end of SpaceX's latest rocket highlighted how private guts are best placed for glory in frontier pursuits. But rules must be enforced in this sector and monopolies held in check

Reliance Retail inks JV for toy business

Reliance Retail has entered into a joint venture with a Haryana-based firm for legal manufacturing to meet the growing demand.

'Over 1 million social media creators to earn $500 per month'

India is leading the digital content creation wave with 1 million creators in the country estimated to have at least 100,000 subscribers or followers in three years, growing at 37% at an annualized level, which will allow them to a steady digital income at par with a well-paying full-time job, making $500 per month.

Retail trade policy to be out soon

The government is expected to announce a national retail trade policy and an accident insurance scheme soon with a view to supporting GST-registered domestic traders, an official said.

Lenders of RCap to meet today

Ahead of the second round of auction scheduled on 26 April, lenders of debt-ridden Reliance Capital (RCap) will meet on Monday to resolve concerns raised by bidders, sources said.

US evacuates embassy staff in Sudan as violence spreads

Dozens have been airlifted to safety in Djibouti amid growing violence in Khartoum

T-Series to make web series for OTT apps

India's largest music label, T-Series, is set to foray into the over-the-top (OTT) content space this year and is looking to produce 3-4 long-format web originals every year.

IIT-incubated ePlane readies an electric taxi for the skies

Almost six decades after the Jetsons predicted a world of flying cars and homes in the sky in the Hanna-Barbera animated TV series, India may finally be gearing up for flying passenger taxis.

Govt may not sell entire HZL stake after investors' nudge

Investors want govt to stay after HZL board decided to buy parent's assets despite opposition

NCLT approves Future Retail's plea to allow access to stores

The National Company Law Tribunal (NCLT) has allowed the resolution professional of Future Retail Ltd to request help from law enforcement authorities to gain access to stores that the company has been locked out of due to disputes with landlords. However, a detailed order has not yet been issued.

HCL's Q4 is just band-aid, at best

March quarter (Q4FY23) earnings of IT giants Tata Consultancy Services Ltd (TCS) and Infosys Ltd were back-to-back disappointments. In that backdrop, the earnings of HCL Technologies Ltd (HCLTech) offers some solace to jittery IT investors.

Global price rise to fuel coffee exports

India's coffee exports, which had risen 13% on year in the Q4 quarter in value terms, are expected to go up further because of higher international prices, driving consumers to less expensive coffee.

HDFC to move RBI on Credila's future

Housing Finance Development Corp. Ltd is set to make a representation to the Reserve Bank of India to let its subsidiary HDFC Credila Financial Services continue signing up customers till it finds a buyer, two officials aware of the matter said.

Govt works to shutter 'ponzi apps'

No proposal to regulate financial influencers on social media: FM

'India-built Mongolia refinery by 2025'

Mongolia’s first oil refinery, built and funded with Indian assistance, will be completed by 2025, said the country’s Ambassador Dambajav Ganbold. In an interview, Ganbold said the first stage of Mongol Oil Refinery, built with a $1.2 billion Indian soft loan, will be completed at the end of this year.

India plans to host first global insurance summit to attract investments

India plans to host the first state-sponsored global insurance summit later this year to flag challenges facing the industry, turn the global spotlight on Indian insurers and attract investments, an official aware of the matter said, at a time much of the developed world is bracing for an economic downturn.