CATEGORIES

Bank of India Q4 net profit jumps 123% to ₹1,350 cr

Bank targeting 12-13% growth in advances in FY24

Travel agents' body urges Go First to process refunds

A LEADING TRAVEL agents' body has asked troubled airline Go First to reimburse passengers for cancelled tickets using funds deposited in credit shells with the airline.

Go First can fly in a week: CEO

Caveat: Bankruptcy court should restrain aircraft lessors

Vedanta Resources repays $800-mn loans to StanChart

London-headquartered Vedanta Resources (VRL), the parent company of Indian mining major Vedanta, has repaid loans worth $800 million to Standard Chartered Bank, following which the encumbrance on all shares was released.

MSCI to cut 2 Adani firms' free float

MSCI WILL LOWER the free float of two Adani Group companies, Adani Total Gas and Adani Transmission, in its May index review, the financial index provider has said.

Govt working to rein in inflation, says FM

Inflation in India is slightly above the “tolerance limit” and the government is taking steps to control it, finance minister Nirmala Sitharaman said on Saturday.

IMF to wrap up Pakistan bailout review once financing in place

THE INTERNATIONAL MONETARY Fund (IMF) is working with Pakistan to conclude a ninth review of a bailout programme, its mission chief said on Friday of the funding critical for the cash-strapped nation to avert an economic collapse.

Covid is longer a global health emergency: WHO

The Covid death rate has slowed from a peak of more than 100,000 people per week in January 2021 to just over 3,500 in the week to April 24, 2023

Federal Bank PAT zooms 67% on robust NII growth

PRIVATE SECTOR LENDER Federal Bank on Friday reported a 67% year-on-year (YoY) jump in its net profit for the quarter ended March to ₹902.6 crore, because of a robust increase in the net interest income.

Apple shares rise after iPhone rebounds

APPLE'S SHARES ROSE in early trading after reporting a rebound in iPhone sales last quarter, helping the world's most valuable company top earnings estimates and weather an industrywide downturn that has battered much of its product lineup.

US unemployment rate falls to over 50-year low

Employers boosted hiring in April while raising wages for workers, pointing to sustained labour market strength

Forex reserves rise to 10-month high

INDIA'S FOREIGN EXCHANGE reserves rose to a 10-month high of $588.78 billion for the week ended April 28, the Reserve Bank of India's (RBI) statistical supplement showed on Friday. That is an increase of $4.5 billion from the previous week.

ITC buys 39% in Yoga Bar maker

ITC SAID IT has acquired 39.42% stake in Sproutlife Foods, makers \"Yoga Bar\" food products, for ₹175 crore, a month after executing transaction documents to acquire 100% of the company's share capital.

Britannia Q4 profit up 47% at ₹559 cr

BRITANNIA REPORTED A 47.1% year-on-year (y-o-y) rise in consolidated net profit for the March quarter (Q4) to ₹559 crore, on the back of softer commodity prices. Bloomberg consensus estimates had pegged net profit at ₹503 crore.

Marico Q4 net up 20%, beats Street

CONSUMER GOODS MAJOR Marico on Friday reported a 20.3% year-on-year (y-o-y) growth in consolidated net profit (attributable to owners) to ₹302 crore for the quarter ended March 31, on the back of softening input costs and margin expansion.

Edible oil firms cut prices

GLOBAL COMMODITY COSTS SOFTEN. GOVT URGES COMPANIES TO PASS ON BENEFITS

Lifting of ban on wheat export ruled out

TO ENSURE SUPPLIES and rule out any possibility of spike in domestic prices, the government has dismissed lifting ban on exports of wheat and products such as atta this year and is also considering imposition of stockholding limits against possibility of hoarding of the commodity.

E-comm platform for livestock economy launched

AN ONLINE E-COMMERCE platform for livestock economy -AnimStok.com - was commercially launched on Friday, which would provide a centralised and organised marketplace for all animal-based products and services.

Gold demand drops 17% in Jan-March amid high prices

RECORD HIGH GOLD prices and volatility saw India's demand for gold in JanuaryMarch quarter contract 17% year-on-year to 112.3 tonne and for the whole of 2023, market will struggle to reach the levels of 774 tonne seen last year, India CEO of World Gold Council Somasundaram PR said on Friday.

Irdai proposes to amend norms on insurance advertisement

IN ORDER TO tighten the regulatory framework on issuing advertisements by insurance companies to curb mis-selling in the sector, regulator Irdai has proposed to amend the extant guidelines on advertisements and disclosure in line with the principle-based approach.

GST authorities set to crack down on fake invoicing issue

A NUMBER OF MEASURES BEING WORKED OUT

Money, movies & scriptures: He savours them all

LIFETIME ACHIEVEMENT AWARD: V SRINIVASA RANGAN

Apple's India biz sees double-digit growth

ROBUST IPHONE SALES helped Apple achieve record quarterly revenue in India with double-digit growth during the January-March period.

Benchmarks slide on selloff in HDFC twins

MSCI weight rejig plan for twins to result in outflows of $150-200 mn: Analysts

Wadias' resolution bid to test IBC might

Go First creditors must guard against possible deep haircuts: Experts

Adani flagship lowers capex goal to $3.8 bn

28% LESS THAN EARLIER GUIDANCE

Higher Pension: 1.16% Extra To Be Taken From Employer's Contribution

THE ADDITIONAL CONTRIBUTION of 1.16% for members seeking higher pension will be taken from within the overall 12% of the contribution of the employers into the provident fund.

World Cup: India Vs Pak At Ahmedabad's Modi Stadium

THE NARENDRA MODI Stadium in Ahmedabad has emerged as the front-runner to host the high-profile India vs Pakistan match in the ICC 50-over World Cup scheduled for October-November, the first match between the two arch-rivals on Indian soil since 2016.

First in over 6 years, Pak foreign minister in Goa for SCO meet

Look forward to talks with counterparts from friendly countries: Bilawal

RIL gets nod to demerge financial services arm

SHAREHOLDERS AND CREDITORS to Mukesh Ambani-led Reliance Industries have cast almost 100% of their votes in favour of the company's proposal to demerge its financial services business into Reliance Strategic Investments and rebrand it as Jio Financial Services, according to exchange notices filed by the firm.