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Rupee hits record low of 83 a dollar on foreign fund outflows

The rupee pared initial gains and slumped 22 paise to close at its alltime low of 83 against the US dollar on Tuesday, pressured by a strong greenback overseas and sustained foreign fund outflows.

Sebi returns OYO's draft IPO papers; asks for more updates

Capital markets regulator Sebi has asked Oravel Stays Ltd, the parent company of travel-tech firm OYO, to refile the draft IPO papers with certain updates. The move might delay the Gurugram-based hospitality unicorn's initial public offering (IPO).

Tredence eyes debut acquisition in 2023

Advent International-backed data science and analytics firm Tredence Inc. is looking to roll out its inorganic growth plans with its debut acquisition this year, said co-founder Shashank Dubey.

Google claims CCI copied parts of EU order on Android abuse

Google has told a tribunal in India that the country's antitrust investigators copied parts of a European ruling against the US firm for abusing the market dominance of its Android operating system, arguing the decision be quashed, legal papers show.

Steep discount in domestic spot gold to bank rate raises eyebrows

Spot gold prices in the domestic market have been trading at a steep discount to the metal's bank rate for an extended period, a departure from the typical premium it trades at, especially during the wedding season.

RBI asked SBI to amend MoA before granting nod to arm

The Reserve Bank of India (RBI) directed State Bank of India (SBI) to delete or amend more than 10 clauses in its original memorandum of association for setting up a subsidiary to provide operational support services to the country's largest lender before approving the proposal, according to a document reviewed by Mint.

Amazon to enter electricity trading

Amazon.com Inc. has secured a category-III power trading licence in India and is building a portfolio of wind and solar power to sell on local electricity exchanges, two people aware of the development said.

NCLT stays RCap debt resolution process

Tribunal's direction comes as a relief for Torrent Investments

Dubai ends hefty alcohol tax to boost business and tourism

Dubai kicked off the new year by scrapping a 30% tax on alcohol sales and making liquor licenses free, in an apparent move to bolster its status as the Middle East's leading business and tourism hub.

Kapoor is Jet's CEOdesignate, not CEO, says panel

The monitoring committee of Jet Airways has sent a notice to Sanjiv Kapoor questioning his designation as the chief executive officer of the airline, two officials said.

Suhail Sameer to step down as CEO at BharatPe

Bharatpe's chief executive Suhail Sameer, who has been overseeing the beleaguered fintech company after it ousted co-founder Ashneer Grover alleging financial misappropriation, is stepping down from the company, a person familiar with the development said. A leadership transition is being planned at the firm, and an announcement in this regard will likely be made later this month.

Markets begin '23 in high spirits

Equity benchmarks began the New Year on a strong note, with the Sensex climbing 327 points and the Nifty finishing near the 18,200 mark on Monday as positive macroeconomic data and a firm trend in European equities bolstered investor sentiment.

InCred acquires Orowealth

InCred Capital, the wealth and asset management arm of InCred Financial Services Ltd (IFSL), has announced the acquisition of digital investment firm Orowealth in an allcash deal.

Green energy, data centres on L&T agenda for 2023

Larsen & Toubro (L&T) will focus on new ventures like green energy, edutech, and data centres this year even if they \"stretch\" the infrastructure developer in the coming days.

Self-regulation, registration for online real money gaming soon

The government has proposed to bring online real money gaming platforms under the IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, which also regulates social media platforms. The new rules could hurt foreign betting firms while boosting the business of Indian fantasy sports and other gaming companies, experts said.

Manufacturing PMI in Dec hits 26-month high

India's manufacturing activity rebounded to a 26-month high in December led by strong expansion in new orders and production, according to a private survey, signalling resilient demand despite global challenges.

RBI report points to lapses at ICICI under Kochhar

At a time its former chief executive Chanda Kochhar is under judicial custody in a kickbacks-for-loans case, it has emerged that adverse observations were made in a risk assessment report by banking regulator the Reserve Bank of India with regard to a 335 crore loan sanctioned by ICICI Bank in 2014.

Defaulters may keep reins in IBC plot twist

Govt earlier tried the debtor-in-control model with small businesses

Panasonic arm plans energy storage push

Panasonic Life Solutions India Pvt. Ltd will focus energy storage technologies to expand its solar power solutions for customers in residential, as well as commercial and industrial (C&I) segments.

NIV experts to focus on covid

Scientists at the National Institute of Virology have been reassigned from their current projects to covid related work amid a bid to halt the spread of BF.7 variant.

'Successful investing is a piece of art'

Successful investing is a piece of art,\" says Raamdeo Agrawal, chairman and co-founder of Motilal Oswal Financial Services. Agrawal, and his team, recently brought out the 27th edition of Motilal Oswal's Annual Wealth Creation Report tracing India's successful companies.

Govt may raise budgetary aid for railways to record levels

The government is likely to provide record budgetary support to strengthen the infrastructure of Indian Railways.

Torrent, ReNew near 1.1 GW deal

Torrent Power Ltd is in talks to buy clean power projects totalling 1.1 gigawatts (GW) from ReNew Energy Global Plc at an enterprise value of around $1.2 billion, two people aware of the development said.

GST mop-up rises to ₹1.5 tn in December

Central and state governments collected €1.5 trillion in goods and services tax (GST) in December, up ₹15% from a year earlier, on higher sales of automobiles and a pick-up in services activity.

Finance panel push to strengthen regulators

After recommending sweeping changes to India's bankruptcy framework and competition regulation, the Parliament's influential standing committee on finance may examine the issue of state finances, the working of market and banking regulators, and the menace of cybercrimes, the panel's chairperson, Jayant Sinha, said.

Liquor firms set to ring in the New Year with a bang

On-premise as well as in-home alcohol sales is likely to rise during the New Year weekend.

The wine trends that ruled 2022

The year saw a growing interest in wine, one that is likely to continue—and grow—in 2023

FOOD WITH A WILL TO BRING CHANGE

Chef Asma Khan, whose Darjeeling Express has anew home, is also now chef advocate of the World Food Programme

THE TYRANNY OF THE INDIAN UNCLE

Behind every case of a woman being robbed of her right to speak, live, love, study or dress as she pleases is a type of unhelpful uncle

Watch out for ticks

Guard against ticks to ensure they don't spread dangerous diseases to your dog and infest your home