CATEGORIES

Go Digit asks IRDAI for clarity on lock-in

Go Digit General Insurance’s promoters and employee stock option holders are faced with unexpected challenges because of new insurance rules, said people with direct knowledge of the situation.

Antler India set to seal final close of expanded $75 mn debut fund

Antler India, the local arm of Singapore-based early-stage investment platform that primarily invests in pre-seed startups, plans to make the first close of its debut fund by July-August, said a top executive.

India taps partners for safety of its citizens in Sudan

The Indian community in Sudan is estimated to be 4,000 strong, of which 1,500 are long-time residents.

Power price surges as heatwave triggers near-record demand

Power prices on the exchange have been hitting the ceiling of ₹10 per kWh (kilowatt hour) in the past 10 days due to near-record power demand fuelled by soaring temperatures.

Windfall tax on crude oil returns amid price surge

The tax that is meant to mop up some of the super-profits that producers make during global price surges is revised on a fortnightly basis.

Quantum mission kicks off; ₹6K cr for eight years

Over the eight-year mission period, the government aims to help build up to 1,000 qubits of quantum computing power, and 2,000 km of quantum communications network in India.

Tim Cook commits to doubling jobs creation in India

Apple plans to double the number of jobs created in India, building on the 100,000 generated in the past two years through manufacturing and other operations. Apple is also exploring options to expand its manufacturing base in India and bring other product lines under the Make in India initiative.

On top of the world: India most populous

India’s population won’t peak until 2065, a UN report has stated

Musk plans own ChatGPT AI to challenge Microsoft, Google

Elon Musk wants to create a rival to artificial intelligence phenom ChatGPT.

Malaysia Air pivots to India amid China's reopening uncertainty

Malaysia Airlines Bhd will increasingly focus on the Indian market with the airline still not seeing China bounce back after its sudden reopening following years of covid restrictions.

'Easy for HDFC Bank to achieve SLR, CRR'

HDFC Bank Ltd, India's biggest private lender, is comfortably placed to meet reserve ratio requirements post its merger with parent HDFC Ltd, even as it waits for a final view from the central bank on requests for forbearance, three people told Reuters.

L'Oréal joins DSG's 4th fund

L'Oréal has made an undisclosed strategic investment in the fund through its venture capital arm, BOLD, or Business Opportunities for L'Oréal Development. This follows L'Oréal's 2019 bet in consumer-focused VC Fireside Ventures' second fund via BOLD.

Govt tightens norms for IVF procedures

The health ministry has tightened regulations for Assisted Reproductive Technology (ART), commonly used to treat infertility through vitro fertilization (IVF), aiming to rein in a mushrooming money-making industry.

Vedanta-Foxconn chip JV to generate sales by FY27

Akarsh Hebbar, managing director of Vedanta's semiconductor and global display business, said the equity structure of the venture would not change and that they had inked an agreement with a technology partner for the semiconductor fab unit

Exam jitters grip finance pros as Sebi mandates certification

These new provisions are part of a larger revamp of AIF norms currently being undertaken by Sebi

Valuations dive in pvt markets as VCS count cash

“Six months ago, founders were keeping value exploration at a later stage with a convertible round. But now, they prefer a clean down round,\" said Kashyap Chanchani, managing partner of The Rainmaker Group, a homegrown investment bank focused on new-age companies.

Now, wind power braces for El Nino

The effects of El Nino, which occurs due to the warming of the Pacific Ocean waters, on wind power generation in India could lead to lower output amid soaring summer temperatures, driving up electricity demand

'Opportunity enormous, journey extraordinary'

India has the potential to be among Apple's top markets, chief executive Cook says

IT firms plan generative AI investments

Tata Consultancy Services (TCS), the country’s top IT exporter, said at its FY23 earnings press conference that it has seen a steep rise in interest among clients in generative AI.

Jaishankar calls for early fix to India-Russia trade imbalance

Jaishankar also pointed to food and agricultural exports as a promising area but acknowledged the existence of non-tariff barriers that have stymied trade in these commodities for close to a decade.

'Tariffs set by India for conductors inconsistent with GATT'

India argued that providing duty-free treatment to all static converters for telecom apparatus except those used in cellular mobile phones does not breach its commitments under the ITA.

Members keen to revitalize India-Brazil-SA forum

The IBSA forum, which was established in the early 2000s as a means to strengthen cooperation among three key emerging economies, is seen to have become dormant in recent years.

Apple says 'Hello Mumbai' with its flagship BKC store today

Apple today pulled back the covers on its first store in India, Apple BKC, at the Bandra Kurla Complex in Mumbai, in a special media preview ahead of its official launch for customers on 18 April.

TDS revenue rises in a sign compliance strategy works

The share of TDS in gross direct tax receipts has risen from 32% in FY15 to nearly 39% in FY22, data from the department showed.

GMR-ADP partnership to lure global brands to Indian airports

GMR Airports will be merged with group holding company GMR Airports Infrastructure by March 2024

'The great return' is on as the allure of startups fades

Executives who quit their stable jobs for the allure of startup life, with lucrative stock options and impressive job titles, are flocking back to their former employers, accepting similar or even reduced salaries, as they choose job security over the tantalizing prospects of the fledgeling startups

Adani repays $3 bn in pledges, bonds

The Adani group paid back at least $3 billion in the March quarter, lowering promoter-group pledges and settling bonds with three domestic mutual funds to allay the concerns of investors and creditors, two people with direct knowledge of the matter said.

India to boost coal power production

14.56GW of coal-fuelled power may come on stream this year

G20 May Agree On Defining Startups

A consensus on startup definition may end taxation challenges

G20 Experts On World Bank Reform Kick Off US Meetings

The expert group has become vital amid ongoing discussions on reforming institutions