CATEGORIES

Swiggy's food delivery business turns profitable

FOODTECH UNICORN SWIGGY'S core food delivery unit is now profitable after factoring in all corporate costs, excluding employee stock option costs, according to a statement from the firm's CEO and co-founder Sriharsha Majety on Thursday.

IndiGo posts ₹920-cr profit, its best fourth quarter ever

INDIGO'S PARENT FIRM InterGlobe Aviation on Thursday reported its best-ever fourth-quarter net profit in March helped by higher load factors and better absorption of fixed cost.

Govt offers auto PLI 2.0 to bring Tesla to India

WITH TESLA PROPOSING a manufacturing plant in India, the government plans to come out with a modified production-linked incentive scheme for electric vehicles and advance chemistry cell battery, to invite fresh investments by companies which did not participate earlier.

ITC tops Q4 estimates; FMCG, hotels drive 23% rise in profit

BOARD RECOMMENDS ₹9.5 TOTAL DIVIDEND

India's exports to be hit by EU's deforestation regulation: GTRI

Compliance poses challenge for small enterprises

S&P affirms India rating, retains 'stable' outlook

CITES 'FAST-GROWING ECONOMY, BUT NOTES 'BURDENSOME DEBT STOCK'

Sept 30 deadline for exporters to use amnesty scheme

EXPORTERS, WHO INTEND to opt for the amnesty scheme on unfulfilled export obligations, will have to make the requisite payments on or before September 30, 2023, according to a circular issued by the Central Board of Indirect Taxes and Customs late Wednesday.

Rising vegetable prices may counteract fall in food inflation

Onset of summer could raise prices of fruits & vegetables

Infosys cuts Q4 variable pay to 60%

IN A SIGN software of tough times for the services companies, Infosys has reduced the average variable payout at an organisational level to 60% for Q4 FY23. The company has informed the same to its employees in an internal mail.

China's Shein to re-enter India

Ties up with Reliance Retail

Everstone to exit Burger King

PRIVATE EQUITY FIRM Everstone Capital is looking to offload its nearly 41% stake in Restaurant Brands Asia, formerly Burger King India, sources have told FE.

Sebi to amend price-sensitive info norms

Proposes widening the ambit of UPSI definition

SP Hinduja passes away in London

He was our mentor, say family members

Real-money gaming leads in ad violation

THE REAL-MONEY GAMING sector is the primary offender of advertising norms, according to an annual complaints report released by the Advertising Standards Council of India on Wednesday.

UBS flags $17-bn hit from Credit Suisse takeover

UBS GROUP EXPECTS a financial hit of about $17 billion from the takeover of Credit Suisse Group, the bank said in a regulatory presentation as it prepares to complete the rescue of its struggling Swiss rival.

Goldman Sachs cuts Adani exposure in ESG funds

THE INVESTMENT ARM of Goldman Sachs Group dramatically reduced its exposure to the Adani Group in its ESG portfolios in the weeks following allegations of fraud against the conglomerate by shortseller Hindenburg Research.

EMs face 'sizeable' upside inflation risks: Gopinath

THE INTERNATIONAL MONETARY Fund's (IMF) No. 2 official said on Wednesday she sees sizeable risks that inflation will remain high or accelerate in many emerging markets and urged central banks to keep monetary policies tight.

New Karnataka Cabinet in '4872 hours': Cong

FOUR DAYS AFTER the Congress registered an emphatic victory in Karnataka, uncertainty clouded the exercise to name the next Chief Minister, despite both contenders-former Chief Minister Siddaramiah and Karnataka PCC chief D K Shivakumar - holding separate meetings with party leader Rahul Gandhi on Wednesday. Shivakumar also had a lunch meeting with party president Mallikarjun Kharge.

Bookings on Airbnb by Indians more than double

THE NUMBER OF nights booked on Airbnb for international travel by Indian guests more than doubled in the first quarter of 2023, with popular travel destinations including the US, UK and Europe.

Classification of frauds may get delayed: Banks

AFTER THE SUPREME Court rejected the State Bank of India (SBI)'s plea seeking clarity on fraud classification norms, bankers say bad actors may misuse the clause of being heard by lenders before their account is marked as a fraud and delay the entire fraud classification process.

Harry, Meghan in 'near catastrophic' paparazzi car chase

BRITAIN'S PRINCE HARRY, his wife Meghan and her mother were involved in a \"near catastrophic car chase\" involving paparazzi photographers after they attended an awards ceremony in New York, a spokesperson for the prince said on Wednesday.

Not stepping down as Tesla CEO, Musk tells shareholders

Says company will 'try a little advertising'

Audi's Q8 e-tron to boost India portfolio

AUDI INDIA WILL launch the Q8 e-tron, an electric car, later this year, Balbir Singh Dhillon, head of Audi India, told FE.

Venture Capital Funds' interest on the rise in tier-2, tier-3 cities

LETSVENTURE LEADING INVESTOR IN SMALLER CITIES, TOWNS

4G launch in high-revenue circles first: BSNL CMD

BHARAT SANCHAR NIGAM (BSNL) plans to provide 4G services in high-r -revenue earning circles first as the state-owned telecom operator gets closer to the commercial launch.

IT industry to global firms: With PLI 2.0, best time to be in India

GOVT LOOKS TO ATTRACT US GIANTS LIKE DELL, HP & APPLE

Govt likely to invite bids for NMDC Steel soon

FINANCIAL BIDS FOR NMDC Steel, which may fetch the government around ₹11,000 crore for its 50.79% stake, will likely be invited after the company's brand-new steel plant in Chhattisgarh becomes fully operational in June.

Growth priority even amid focus on renewables: Singh

51,000 MW fossil fuel capacity under construction

PM to visit Australia despite cancelled Quad meeting

WITH US PRESIDENT Joe Biden cancelling his trip to Australia due to the crucial debt-ceiling talks in Washington, Australian Prime Minister Anthony Albanese announced that the Quad leaders' summit would not take place in Sydney.

India, EU agree to engage on carbon tax

INDIA AND THE European Union have agreed to a constant engagement before Carbon Border Adjustment Mechanism (CBAM) or Carbon Tax on exports to the 27-member block kicks in from January 2026.