CATEGORIES

Canara Bank was top lender to public sector cos in FY23

Public Sector Banks (PSBs) lent ₹4.12 trillion to state-backed corporations and public sector undertakings during 2022-23, down from ₹4.93 trillion during the previous year, finance minister Nirmala Sitharaman informed Parliament in a written response on Monday.

RIL teams up with Brookfield, Digital for data centres

Reliance Industries Ltd (RIL) is joining hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-way venture for setting up special purpose vehicles (SPVs) aimed at developing data centres in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said.

ITC set to demerge hotel biz, stock falls

The firm's shareholders will own 60% of the new entity directly

Twitter To Change Logo To X From Bird: Musk

Musk said he had plans to effect the change worldwide as early as Monday

Chinese diplomat plans talks with Japan and South Korea

Top Chinese diplomat Wang Yi proposed high-level talks between China, Japan and South Korea in a meeting with the Japanese foreign minister in Indonesia this month, Kyodo news agency reported on Sunday.

Netanyahu gets pacemaker just ahead of judicial overhaul vote

Prime minister Benjamin Netanyahu had a cardiac pacemaker successfully inserted early on Sunday after he was admitted to the hospital last week for fainting.

Lexus to foray into used car biz in India

Luxury carmaker Lexus is looking to foray into the used car business in India next year, having now completed six years in the market, according to a top company official.

Amazon deal off; MX Player eyes funding

Video streaming platform MX Player, owned by Times Internet Ltd, is exploring options to secure funding after its negotiations with Amazon Inc. for an acquisition hit a roadblock.

'Sensitivities over tech transfer will persist for some time to come'

Former diplomat and current US-India Business Council (USIBC) chief, Atul Keshap, emphasized the importance of India-US defence cooperation and the need for joint efforts to develop a defence industrial base in India.

SuperShare to shut shop, return capital

SuperShare, the content sharing platform, which had secured capital from investors, including Accel and Lightspeed, is heading toward a shutdown, according to two people familiar with its plans.

Machinery exports to Russia, CIS nations up 3 times in Jun

Indian engineering goods exports to Russia and Commonwealth of Independent States (CIS) countries surged in June, up nearly threefold in comparison to a year earlier, according to exporters. However, goods exports to other parts of the world witnessed a slowdown, they added.

OVL's wait for dividend from Sakhalin-1 oil field lengthens

Sakhalin-1 shares are yet to be transferred to ONGC Videsh, delaying the dividend payout

FPIs pump ₹43.8K cr in Jul; valuations rise

Indian equity markets continue to draw foreign portfolio investments as foreign investors put in ₹43,800 crore in July so far on stable macroeconomic fundamentals, steady earnings growth and challenges faced by the Chinese economy. With this, inflow in the equity market reached ₹1.2 trillion so far this year, data with the depositories showed.

EM bonds' rally shows market has underpriced El Niño risks

Emerging market (EM) bond bulls are betting the bank interest-rate hikes will help power up the asset class. El Niño may have something to say about that.

Startup funding slips; M&As, early-stage deals in spotlight

Private equity and venture capital funding slipped into the negative territory after two weeks with investors sharpening focus on mergers and acquisitions (M&As) as well as early-stage deals.

Delhi HC patents verdict may hit small-scale, mid-sized manufacturers

A verdict by a two-judge bench of the Delhi High Court last week is expected to have an adverse impact on India's mid and small manufacturers who licence patents from large international firms.

Sample search finds 48 drugs sub-standard, one spurious

Keeping a close watch on the quality of drugs being sold in India, the Central Drugs Standard Control Organization (CDSCO) found 48 drugs to be of “sub-standard quality\" and one drug, Heparin injection—used to treat blood clots—was declared “spurious\".

Barbenheimer brings back the cheer

A showdown between two high-profile Hollywood films, Oppenheimer and Barbie, has brought some much-needed cheer to the Indian box office after months of lacklustre sales. Moviegoers flocked to theatres, despite the absence of major Hindi or regional movie productions or popular stars.

GST rate rejig off the table for now

A proposed revision of goods and services tax (GST) rates, aimed at boosting revenue collections and fixing tax anomalies, is unlikely before the 2024 general elections, as the recent meeting of the GST Council did not reconstitute the key ministerial group responsible for examining the matter.

Bain Capital to buy 90% of Adani Capital

Private equity firm Bain Capital announced on Sunday that it had acquired 90% of Adani Capital and Adani Housing, the two non-banking financial companies of the Adani Group, for an undisclosed amount. Gaurav Gupta, the current CEO and managing director, will hold the remaining stake in the two companies, the statement said.

Air India eyes 20% share in air cargo biz in 2-3 years

Air India plans to bolster its presence in the air cargo segment, with a target of securing a 20% market share over the next 2-3 years by utilizing the airline’s incoming fleet of wide-body aircraft that will double its capacity in the near- to medium-term, two people familiar with the development said.

Vedanta's dividend payouts to parent concern lenders

Banks have turned cautious on their exposures to Vedanta Ltd, worried that sizeable dividend payouts to ease the parent’s debt burden might stress the balance sheet of the domestic entity to which they have loaned money, said two bankers close to the matter.

Small investors cash out as markets rally

Scepticism about rally, margin calls among reasons for selling

Go First gets nod to restart flights, with conditions

The civil aviation regulator has granted conditional approval for Go First to resume flights with 15 aircraft or 114 daily flights, in a respite to the airline that has been grounded since its bankruptcy filing in May.

India, Australia explore easing whiskey exports, form group

A newly formed India-Australia joint working group is looking at the possibility of a mutual recognition agreement (MRA) that would help Indian whiskey makers tap into the Australian market, which has a significant Indian population and growth opportunity, two people aware of the development said.

India, Sri Lanka to work for economic, tech agreement

India and Sri Lanka on Friday agreed to start discussions on an Economic and Technology Cooperation Agreement (ECTA) and unveiled plans to cooperate on power, digital payments, connectivity and green energy.

RIL profit drops as refining biz falters

Telecom, retail businesses continue to deliver strong growth

Ashok Leyland Q1 net profit up 8x at ₹576 cr

Hinduja group flagship saw revenue increase 13.4% to ₹8,189 crore

JSW Steel net up 189% in Q1

JSW Steel Ltd’s net profit during the first quarter of the current fiscal grew 189.39% to ₹2,428 crore from ₹839 crore during the same period last year, the company announced Friday.

RateGain sees opportunity in hospitality's talent crunch

An estimated 50 million workers who left the global hospitality industry in the last three years amid the devastating impact of the pandemic may never return to work.