CATEGORIES

As strikes devastate Gaza, Israel forms unity govt to oversee war

Israeli Prime Minister Benjamin Netanyahu and a leading opposition figure on Wednesday created a wartime cabinet to oversee the fight against Hamas militants after their stunning weekend attack. In the sealed-off Gaza Strip ruled by Hamas, Palestinians struggled to find safety as Israeli bombardment demolished entire neighbourhoods and the territory's only power plant ran out of fuel.

Exxon agrees to buy Pioneer for $60 bn

The deal marks Exxon’s largest takeover in more than two decades

Ozempic now shows promise in treating kidney failure

Novo Nordisk A/S said its diabetes drug Ozempic showed surprisingly early effectiveness in a kidney failure study, sending shares of the world's biggest dialysis providers tumbling.

Norway's Orkla recasts India business for bigger play in spice market

Norwegian investment company Orkla ASA announced the reorganization of its India operations. It will be operating under one entity Orkla India, that focuses on packaged spices and convenience foods markets.

Bharti to buy out AXA in life JV

Bharti Group on Wednesday said it has entered into a binding agreement with its joint venture partner AXA to acquire its 49% stake in Bharti AXA Life Insurance.

Thomson eyes laptop mkt share

French consumer electronics brand Thomson will begin selling its laptops in the Indian market by January through a brand licensing agreement with Super Plastronics Pvt. Ltd (SPPL), which plans to set up local manufacturing within the next year, executives said.

Samsung's profit slide slows, eases chip mkt worries

Samsung Electronics Co. reported a more modest slide in quarterly profit after staunching losses at its chip division, suggesting the global semiconductor market may have rounded a corner.

IMF caught off guard as China strikes debt deal with Sri Lanka

China reached a tentative debt agreement with Sri Lanka, front-running separate talks the International Monetary Fund (IMF) and other creditors are having with the South Asian nation and catching them by surprise.

Pro Kabaddi aims rise in sponsorship, revenue this season

The 10th season of the Pro Kabaddi League (PKL) is set to witness significant growth on increasing revenue streams and higher advertiser interest, Anupam Goswami, the chief executive and League Commissioner, PKL, said in an interview. The two-day auction for the new season ended on Tuesday.

'Cinema still the most loved form of leisure for Indians'

Survey data offers optimism for film industry that was among the last to recover from covid

'Talks channel open with Tesla on factory plan'

The Gujarat administration has kept communication channels open with Tesla Inc. to support the US company's plans in India, Gujarat chief minister Bhupendra Patel said in an email interview.

Bench staff now in tech firms' focus

India's top IT service companies such as TCS, Infosys, Wipro and HCL are strategically streamlining their bench strength to stabilize resource utilization rates. Over the next two quarters, the firms will be focussing heavily on the bench with projects barely trickling in, and external hiring putting pressure on finances.

Sidharth Rath resigns as SBM India head before term ends

Sidharth Rath, the head of State Bank of Mauritius (India), has stepped down ahead of the scheduled term conclusion to pursue entrepreneurial opportunities, two people in the know said.

Adani refinances $3.7 bn loan in Ambuja, ACC deal

Deutsche Bank, StanChart, Barclays, Citibank, MUFG, Sumitomo Mitsui in consortium

Sebi probes links between Adani Group, Gulf Asia fund

Market regulator is investigating the relationship between the Adani Group and a fund incorporated in the British Virgin Islands to see if there has been a violation of share ownership rules, two people with direct knowledge of the matter said.

SIPs hit all-time high, small cap funds see 37% dip in flows

Systematic investment plans (SIPs) into mutual funds hit an all-time high in September, crossing the ₹16,000-crore mark for the first time while inflows into small and midcap funds moderated amid sky-high valuations in some stocks. Net inflows into equity mutual funds dipped by 30% while debt fund outflows hit an 18 month high of 1.01 trillion, mutual fund body AMFI said Wednesday.

BoB to raise ₹10,000 cr to fund infra, affordable housing projects

Bank of Baroda (BoB) on Wednesday said its board has approved a proposal to raise up to ₹10,000 crore to fund infrastructure and affordable housing projects.

Outflows from Asian equities continue

Asia's emerging equities, excluding China, are poised to see the longest streak of foreign outflows in more than a year as expectations that US rates may remain higher for longer weighed on investor sentiment.

What the Israel-Hamas war portends for India's defence sector

The conflict between Israel and Hamas has wreaked havoc on human life and ignited geopolitical worries. Against this backdrop, investors' attention is on shares of defence companies. In the US markets, shares of defence companies such as Northrop Grumman Corporation and Lockheed Martin Corporation have soared this week.

Indian investors see brighter side

Geopolitical tensions are haunting global equities. In a knee-jerk reaction to the Israel-Hamas war, Asian equities fell on Monday. By Tuesday, the Indian key benchmark index Nifty50 had recouped the losses and is now above Friday's levels.

Birla Carbon buys battery-part maker

Aditya Birla Group-led Birla Carbon, a global supplier of carbon black, on Wednesday, said it has acquired Nanocyl SA, a Belgium-based manufacturer of multi-wall carbon nanotubes.

Tata fund invests in Apex Kidney Care

Dialysis service chain Apex Kidney Care has raised $10 million (₹83.3 crore) in a mix of primary and secondary investment as part of its funding round from Tata Capital Healthcare Fund, the healthcare-focused arm of private equity firm Tata Capital Ltd.

Lavie parent closes maiden fund-raise

Bagzone Lifestyles Pvt. Ltd, which owns the handbag brand Lavie, raised $9 million (around ₹75 crore) in its first ever institutional funding round since its inception in 2010.

Zolve raises debt of $100 mn for credit products in the US

Cross-border neobanking startup Zolve, on Wednesday, said it has raised a warehouse debt facility of $100 million from US-based impact investor Community Investment Management (CIM).

Byju's to work with US lenders on asset sale

Move comes after US lenders hire Kroll to safeguard assets in Singapore

'Japan interested in partnering with India for infra building abroad'

Japan's premier international cooperation and development agency, JICA, is interested in partnering with India in infrastructure projects in South-east Asia, Africa and the Pacific, said JICA India chief Saito Mitsunori.

Battery storage consortium on cards

As countries move toward ambitious net zero goals, a leading international non-profit supporting clean energy is likely to launch a global consortium on battery energy storage systems (BESS) at the coming UN climate change conference, to be held in the UAE.

Apple crop: HP taps central govt scheme

Himachal Pradesh wants the Centre to implement the market intervention scheme (MIS) for procuring 'C' grade apple crops hit by rain and floods, a central government official said.

India wants Aramco to join crude reserve plan

India wants Saudi Arabia's Aramco to participate in its planned 6.5 million tonnes (mt) strategic petroleum reserve (SPR) programme as the country wants to strengthen ties with its key oil supplier, according to a document seen by Reuters.

'War challenge before central banks; rates will remain high'

High interest rates to affect investments, central banks look for soft landing: World Bank chief