CATEGORIES

Brought more FDI than any other startups: Byju's CEO

AFTER THE ENFORCEMENT Directorate searched Byju's premises, the education platform's CEO, Byju Raveendran, wrote to employees saying the company brought more FDI to India than any other startup, and that the firm fully complies with all applicable foreign exchange laws.

There's no politics in 'Mann Ki Baat', says Sitharaman

PRIME MINISTER NARENDRA Modi spoke like a \"pradhan sevak\" during the 100th episode of 'Mann Ki Baat' and there is no politics in the radio broadcast, Union minister Nirmala Sitharaman said on Sunday, countering the Congress' criticism of the programme.

Firm milk prices posing threat to falling inflation

Prices of the staple food may remain elevated through this summer, if not beyond.

402 highway projects facing delays: Report

THE ROAD TRANSPORT and highways sector has the maximum number of delayed projects at 402, followed by railways at 115 and the petroleum industry at 86, showed a government report.

Slew of sops likely for underground coal mining

Open market sale to be allowed; revenue sharing proposed

Tax evasion probe against insurers, MFs widened

Large-scale misuse of input tax credit suspected

A quarter of jobs will change by 2027: WEF

Nearly a quarter of global jobs will “change” in the next five years, with 69 million new jobs likely to be created and 83 million lost, the World Economic Forum’s Future of Jobs Report 2023 said on Sunday.

Mumbai may see housing glut

Mumbai and its suburbs could see a glut in housing supply in the coming months due to a plethora of new launches by property developers.

Early birds off to a sedate start

The March quarter earnings season has got off to a sedate start, with a handful of companies surprising the Street, but many others missing estimates.

Hinduja arm in talks with lenders for RCap buyout

Hinduja Group, the sole bidder for Reliance Capital (RCap), is in discussions with a clutch of lenders to raise up to Rs 8,000 crore to fund its proposed takeover of the former Anil Ambani group company.

10 FMCG brands join ₹1,000-crore club

HUL, ITC among contributors in two years

Jio & Airtel may face Trai red flag on unlimited 5G

BREACH OF FAIR USAGE POLICY. VODAFONE IDEA HAD ACCUSED THE TWO OF PREDATORY PRICING

Joe Biden to huddle with top donors as 2024 effort kicks off

PRESIDENT JOE BIDEN thanked some of his top donors as he launches a reelection campaign that is expected to need to raise well over $1 billion to secure his second term.

China's Didi sees 2022 revenue hit

CHINESE RIDE HAILING giant Didi Global reported a 19% year-on-year fall in 2022 revenue, as the country's Covid lockdowns and a regulatory crackdown took a toll.

Pakistan inflation soars in April

PAKISTAN INFLATION

Dorsey rues Musk deal: 'It all went south'

TWITTER CO-FOUNDER JACK Dorsey-once a supporter of Elon Musk's $44 billion acquisition of the site is now offering sharp criticism of the new owner and his handling of the deal.

First Republic to be placed under receivership by FDIC

THE US FEDERAL Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank under receivership imminently, a person familiar with the matter said, sending shares of the lender down nearly 50% in extended trading.

US set to modernise H1B lottery system after detecting fraud, abuse

A US FEDERAL agency has announced plans to modernise the H-1B registration process after detecting abuse and fraud by some companies to artificially boost their chances of winning the coveted visa for their skilled foreign workers in the computerised drawing of lots.

Ukraine welcomes EU deal on continued farm exports

UKRAINE ON SATURDAY welcomed the European Union's hard-fought deal to keep farm exports flowing into and through the bloc to world markets, saying that the Middle East and Africa would specifically stand to benefit from it.

India's ties with China 'abnormal', says EAM

China's violation of the border pacts has 'eroded' bilateral ties

Indian firms' $400 mn stuck in Russia

INDIAN ENERGY COMPANIES are unable to reap dividends worth as much as $400 million from their assets in Russia, a senior oil ministry official said Saturday.

New chiefs for Bank of India, Bank of Baroda

THE CENTRE ON Saturday appointed Debadatta Chand as managing director and chief executive officer of Bank of Baroda, and Rajneesh Karnatak as MD and CEO of Bank of India for a period of three years, as per exchange notices filed by the two banks.

IDFC First Bank Q4 PAT gains 134% to ₹803 cr

PRIVATE SECTOR LENDER IDFC First Bank on Saturday reported a 134% year-on-year(y-o-y) rise in its net profit for the quarter ended March to ₹803 crore, primarily due to higher growth in net interest income (NII).

RBL Bank Q4 net profit jumps 37% to ₹271 cr

PRIVATE SECTOR LENDER RBL Bank on Saturday reported a 37% year-on-year (y-o-y) and 30% quarter-on-quarter (q-o-q) rise in its Q4FY23 net profit to ₹271 crore, led by stable advances, other income growth and lower provisions. The bottom line was higher than Bloomberg estimate of ₹262 crore for Q4FY23.

IDBI Bank Q4 net profit rises 64% on strong NII

THE NET PROFIT of IDBI Bank rose 64% year-on-year (y-o-y) in the March quarter due to a growth in its net interest income (NII).

FCI to offload extra wheat in open market

TO CURB SPIKE IN PRICES

Affordable 'family SUV' joins car race

FAMILY-ORIENTED MIDSIZE SUVS are the new frontier for carmakers. With a growing demand for three-row vehicles that can seat more than five persons, manufacturers are increasingly putting their focus on seven-seater SUVs for the domestic market.

Kotak Mahindra Bank PAT up 26%

KOTAK MAHINDRA BANK'S net profit rose 26% year-on-year (yo-y) in the March quarter due to a strong growth in its loan book. The private sector bank posted a bottom line of ₹3,496 crore in the quarter under review, up 25% on a sequential basis. The lender's net profit beat the ₹2,898 crore estimated by Bloomberg.

Indirect tax mop-up ₹13.82 trn in FY23

THE CENTRE'S TOTAL indirect tax collection in 2022-23 was ₹13.82 trillion, which was largely in line with the revised estimate of ₹13.85 trillion for the fiscal, Central Board of Indirect Taxes and Customs (CBIC) told finance minister Nirmala Sitharaman in a review meeting on Saturday. This marked a 7.21% increase over the mop-up of ₹12.89 trillion in FY22.

ED searches Byju's premises

₹28,000 CR IN FDI, ₹9,754 CR OF ODI UNDER SCRUTINY