Business
SEBI, RBI Investigating Some Alternate Investment Funds: Sources
India‘s markets regulator and its central bank are investigating about a dozen cases of alternate investment funds (AIFs) allegedly being used to circumvent regulations, including “evergreening” of stressed loans, according to three sources with direct knowledge of the matter. The investigations could lead to increased disclosures and greater scrutiny...
Microsoft-owned LinkedIn announces fresh layoff! Nearly 700 get pink slips
LinkedIn, the Microsoft-owned career network company, announced new round of layoffs on Monday. Nearly 700 people have been handed over the pink slips as part of company’s new policy. The layoffs will impact finance, product, engineering and talent teams. Around three per cent of the total workforce will be...
Wholesale inflation remained in deflation zone for the sixth successive month in September
Producers’ inflation rate based on the Wholesale Price Index (WPI) remained in the negative zone for the sixth successive month at (-) 0.26 per cent in September, government data released on Monday showed. However, sequential data showed that deflation has come down. WPI inflation was (-) 0.52 per cent...
Food Inflation May Remain Elevated, Seen Above 6% In H2
NEW DELHI: A sharp decline in tomato prices may have caused the headline CPI (Consumer Price Index) inflation to plunge to 5.02% in September from 6.83% in August, but risks to food prices still persist, and experts see retail-food inflation staying above the 6%-mark in the second half of...
Muted Revenue Growth, Higher Profitability For RIL In Quarter Ending September
MUMBAI: For Mukesh Ambani’s Reliance Industries (RIL), analysts estimate higher profit growth for the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), while revenue growth is expected to remain subdued. Key monitorables include guidance on new energy capital expenditure, retail expansion, and telecommunication (telecom) tariffs. In a Bloomberg...
HSBC Set For Debut In India Land Financing
MUMBAI: Global banking major HSBC is looking to get into funding real estate development in India through the FPI route. It might also enter the private debt space in other sectors as well, sources said. “They are big in Asia in real estate private debt. They want to explore...
India, UK Hold First ‘2+2’ Foreign & Defence Dialogue To Boost Cooperation
NEW DELHI: The inaugural India-UK ‘2+2’ foreign and defence dialogue on Monday saw the two sides focusing on ways to boost cooperation in a range of key areas such as trade and investment, defence, critical technologies, civil aviation, health and energy. At the senior official-level dialogue, the two sides...
Mumbai India’s Most Expensive Office Rental Market, Bengaluru 2nd
In its latest report ‘India Real Estate Q3 2023’, the real estate consultancy, Knight Frank India cited that the top eight markets of India have recorded office transactions of 16.1 million square feet (mn sq ft) recording a growth of 17% YoY during Q3 2023. The elevated demand in...
16-year-old raises nearly Rs 4 cr funding for AI-startup
Inspiring success stories of young entrepreneurs often go viral on the internet these days. Recently, a 16-year-old girl named Pranjali Awasthi has garnered all attention in the tech industry with her AI startup. The success story of Pranjali at such a young age is inspiring for all aspiring entrepreneurs....
Guinness Book’s 2024 Edition Gets Over 60 Records From India
The latest edition of the Guinness World Records has 2,638 achievements from around the world, including over 60 from India with the entry on rainfall in Meghalaya’s Cherrapunji being one of the oldest. Distributed in India by Penguin Random House, the book has nine fact-packed chapters – Blue Planet,...
Byju’s seeks more time to recast $1.2 billion debt
Edtech startup Byju’s has sought more time from creditors to renegotiate an agreement governing a $1.2 billion loan that is in breach of covenants, according to a latest report by news agency Bloomberg. The creditors have until Tuesday to sign a forbearance agreement, which will give the company time...
Air India-Vistara merger on cards
Air India and Vistara may merge soon as all possibilities are being discussed, Vinod Kanan, chief executive officer (CEO) of Vistara has said. Ever since Tata Sons acquired Air India, there have been talks of a possible merger between the two airlines, both owned by the group. Vistara, the joint venture...
Amex gets new India CEO after RBI ban on expansion lifted
American Express Banking Corp (AEBC) has announced the appointment of Sanjay Khanna as the Chief Executive Officer (CEO) and Country Manager for India. The company in a statement said Khanna heads the country executive team and is responsible for driving growth across the organisation’s consumer and commercial businesses. Khanna,...
Rice prices jump 5% as Bangladesh cuts import duty
The prices of rice in India in the past week have increased about 5 per cent as neighbouring Bangladesh has again cut import duty on rice from 25 per cent to 15.25 per cent, according to an ET report. The reduction in import duty is expected to increase the...
India beats UK to become 5th largest economy
India has become the fifth largest economy in the world, beating the UK, a report has said. The country has become the fifth biggest economy during the last three months of 2021, pushing the United Kingdom to the sixth spot, with the country grappling with a harsh shock of...
Starbucks names Laxman Narasimhan as new CEO
Starbucks Corp on Thursday named Laxman Narasimhan as its next chief executive officer, choosing an executive credited with revitalizing the maker of Lysol disinfectants to undertake a “reinvention” of the world’s biggest coffee chain. Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex...
RBI Governor reiterates concerns over cryptocurrency
Reserve Bank of India governor Shaktikanta Das has once again came down heavily upon cryptocurrencies, saying that the digital assets can create a lot of financial instability in terms of the ability of the central bank to determine monetary policy. Das’ comments came in sync with his and the RBI’s...
Indian retail footfalls post 100% growth as pandemic ebbs
Even as the coronavirus pandemic ebbs, the Indian retail space is witnessing growing footfalls across retail and recreational spaces. The retail sector made a robust recovery in the second quarter of 2022, with transaction activity growing by more than 100 per cent on a quarterly basis. Overall, in H1...
