CATEGORIES

Remittances to India cross $100-billion mark in 2022

FIRST COUNTRY TO REACH MILESTONE | After Covid-induced slowdown, private transfers gather pace

Bollywood hopes morning wouldn't show the day for Salman's latest

FILM SEES MUTED OPENING; ANALYSTS EXPECT PACE TO PICK UP PACE OVER EID WEEKEND

Karnataka HC rejects plea by Xiaomi against asset freeze

THE KARNATAKA-HIGH court on Friday upheld the seizure of ₹5,551.27 crore from Chinese handset maker Xiaomi by the Enforcement Directorate for violation of the Foreign Exchange Management Act (Fema).

Top companies shun govt contract for electric buses

INDIA'S LARGE BUS makers including Tata Motors, JBM Auto and PMI Electro have not bid for the latest government contract to supply nearly 5,000 electric buses because they fear not getting paid on time, three sources told Reuters.

States seek easier norms for ₹1 trn 'untied' capex loan

STATE GOVERNMENTS HAVE urged the Centre to relax the norms for the release of the ₹1.3 trillion interest free capex loans to them in FY24, stating that some of these are impractical and would impede the efforts to boost capital spending.

HDFC Bank gets post-merger relief

RBI gives 3-year time to meet priority sector lending norms

RIL beats Street, net profit up 19%

HIGHEST-EVER OPERATING PROFITS

Microsoft Removes Twitter From Its Ad Programme

Musk threatens suit, accuses Microsoft of using data 'illegally'

Five personnel killed in Jammu terror attack

FIVE ARMYMEN WERE killed on Thursday afternoon in Jammu and Kashmir's Poonch district when their vehicle was fired on by \"unidentified terrorists\", who \"took advantage of heavy rains and low visibility in the area\", the HQ Northern Command said in a statement.

369 mn watched first 19 IPL matches: Disney Star

A RECORD 369 million television viewers watched the first 19 matches of the ongoing edition of the Indian Premier League (IPL) on the Disney Star network, the broadcaster said on Thursday, quoting data from the Broadcast Audience Research Council of India (Barc).

Kevin Vaz quits Disney Star, to be Viacom18 CEO

KEVIN VAZ, Disney Star's head of network entertainment channels, has put in his papers after a nearly three-decade association with the company, informed sources told FE.

Oil prices slump to three-week low

OIL PRICES SLID by roughly $2 a barrel to their lowest level in about three weeks on Thursday on fears of that a possible recession could dent fuel demand and evidence of swelling US gasoline inventories.

Security worries on China eclipse economic interests, says Yellen

TREASURY SECRETARY JANET Yellen said the Biden administration was prepared to accept economic costs as it sought to protect US national security interests from threats posed by China, even as she appealed to Beijing to cooperate on shared global concerns.

Tesla signals more price cuts despite margin damage

ELON MUSK INDICATED Tesla will keep cutting prices to stoke demand even after markdowns early this year took a significant toll on profitability.

Neobank OPEN lays off 47, founders take 50% pay cut

NEOBANK OPEN HAS laid off 47 of its employees based on performance evaluations, the company said in a statement on Thursday. The company stated that these changes were made as part of its ongoing efforts to optimise operations and ensure the best possible team is in place.

Koo fires 30% staff on funding crunch

Twitter rival lays off 90 people since Sept

Local Apple dealers fear hit to business from iPhone maker's retail foray

RETAILERS OF APPLE products in Mumbai and Delhi, which account for around 20-21% of the brand's annual sales in the country, fear the launch of stores by the US giant within these cities may dent their business.

Reliance Retail Q4 revenues likely to cross ₹70,000 crore

RELIANCE RETAIL REVENUES may cross ₹70,000 crore in terms of topline in the quarter ended March (Q4FY23), a growth of nearly 22% versus the previous year, according to Nomura. The company will disclose its financial numbers on Friday along with its parent Reliance Industries (RIL).

Zee begins talks to settle lenders' debt

ZEE ENTERTAINMENT ENTERPRISES has started settlement talks with its creditors to repay debts and remove the last hurdle in completing a merger with the Sony Group that would create a $10-billion media giant, according to people familiar with the matter.

KM Birla returns to Vodafone Idea board

VODAFONE IDEA ON Thursday appointed Aditya Birla group chief Kumar Mangalam Birla as an additional non-executive and non-independent director.

Vedanta pledges more HZL shares to raise ₹1,500 cr

MINING MAJOR VEDANTA, a subsidiary of London-headquartered Vedanta Resources (VRL), has pledged another 2.44% stake of its subsidiary Hindustan Zinc (HZL) to raise ₹1,500 crore. The latest pledging by the Anil Agarwal company, totalling 103.24 million shares, is as security for a term loan the firm raised.

HCL Tech Q4 profit falls 3% to ₹3,983 cr, beats estimate

IT firm keeps revenue guidance for FY24 at 6-8%

Water levels comfortable in reservoirs, except in the east

AT 120% OF 10-YEAR AVERAGE

Number of fresh EPFO entrants dips to new low in Feb

First-time subscribers below 1-million mark since October 2022

Peak power demand touches all-time high

At 216 GW, record demand on April 18 was up 2% on year

Demographic dividend fizzling out: Experts

Need to improve employability of working-age people

Apple aims up to 3x jump in India output

AFTER REGISTERING A four-fold jump in exports of iPhones to over ₹40,000 crore in FY23, Apple is looking at doubling or trebling its growth and investments in the country in the coming years.

More RCap e-auctions likely

Lenders may seek value maximisation through more rounds

SC tax ruling may add to litigation

Chances of fresh cases both by tax department as well as taxpayers high

Disney Poised To Axe Thousands Of Jobs

Walt Disney plans to cut thousands of jobs next week, including about 15% of the staff in its entertainment division, people familiar with the matter said.