Apple's operations in India likely to create 6 lakh jobs: Report
Bengaluru: Apple's operations in India are projected to generate up to 600,000 jobs by the end of this financial year, according to an Economic Times report.
Finance
Apple announces Indian-origin executive Kevan Parekh as new CFO, to take over from January 1
California/IBNS: American tech major Apple has announced that its long-time employee Kevan Parekh will take over as the company's Chief Financial Officer (CFO) on January 1, 2025.
Adani Power incorporates subsidiary in UAE
Abu Dhabi/IBNS: Adani Group's subsidiary Adani Power Limited on Monday (August 27) incorporated a wholly-owned subsidiary, Adani Power Middle East Ltd. in Abu Dhabi, United Arab Emirates (UAE), the company informed the exchanges.
RBI Gov Shaktikanta Das unveils Unified Lending Interface, or ULI, says it will transform India's lending ecosystem
Bengaluru/IBNS: The Governor of Reserve Bank of India (RBI), Shaktikanta Das, on Monday (August 26) announced that the central bank will introduce its ‘Unified Lending Interface’, or ULI, technology platform across the nation.
Crude oil prices rise on Mideast escalation fears, US rate cut expectations
London/IBNS: Crude oil prices climbed 1 percent on Monday (Aug 26) on renewed concerns that an escalating Gaza conflict could disrupt regional oil supplies, extending gains from Friday when the prospect of US interest rate cuts lifted the global economic and fuel demand outlook, reports Reuters.
BHEL bags Rs 11,000 crore orders from Adani Power and its subsidiary
Mumbai/IBNS: Bharat Heavy Electricals Ltd. (BHEL), an Indian central public sector undertaking (PSU) and the largest state-owned power generation equipment manufacturer, has informed the exchanges that it has signed a contract agreement with Adani Power Ltd. and its subsidiary Mahan Energen Ltd. to set up three Supercritical Thermal Power Projects, reports said.
Anil Ambani reviewing legal options against SEBI order: Statement
Mumbai/IBNS: Reliance Group chairman and managing director Anil Ambani, who has been banned by the Securities and Exchange Board of India (SEBI) from accessing the securities market for five years on fund diversion charges, is reviewing legal options, his spokesperson said on Sunday (Aug 25).
Tata Sons clears Rs 20,000 crore debt to avoid mandatory share market listing
Mumbai/IBNS: Tata Sons, the $410-billion holding company of the Tata Group, has voluntarily surrendered its certificate of registration after repaying over Rs 20,000 crore in debt to remain an unlisted entity, according to a report by The Economic Times.
Senior Tesla Executive Sreela Venkataratnam quits, says working at Elon Musk's firm is not for the 'faint of heart'
Ending her 11-year journey with Tesla, the company's vice president Sreela Venkataratnam quit the firm recently and said working in the firm was not for the 'faint of heart'.
Deposit mobilisation not a challenge for bank, says SBI chairman Dinesh Khara
Mumbai/IBNS: Dinesh Kumar Khara, the chairman of India's largest public sector bank State Bank of India (SBI), on Friday (August 23) said that he does not foresee any challenges for the bank in deposit mobilisation, despite the intensified competition among banks to attract deposits by raising short-term deposit rates.
Ola relaunches car-pooling service 4 years after its suspension
Bengaluru/IBNS: Bengaluru-based transportation company Ola Consumer (formerly Ola Cabs) has officially relaunched its car-pooling feature 'Ola Share' on its app, after nearly four years of suspending the service due to Covid-19 protocols.
Euro zone consumers' inflation expectations hold steady, shows ECB survey
Berlin/IBNS: The European Central Bank (ECB) survey showed on Friday that euro zone consumers' inflation expectations over the next 12 months remained steady for the third month in a row in July, reports Reuters.
Cognizant sues software rival Infosys for allegedly stealing trade secrets
Texas/IBNS: American IT services giant Cognizant's TriZetto Software Group has filed a case against India's homegrown IT service major Infosys in Texas federal court on Friday (August 23), accusing the latter of stealing trade secrets related to its healthcare insurance software.
India keen on more American tie ups in defence space: Defence Min Rajnath Singh
Washington DC/IBNS: Defence Minister Rajnath Singh on Friday (August 23) told American industry leaders at a roundtable in Washington DC that India is keen to invite more US investment and technology collaborations in the defence space.
Axio secures $20 million funding from Amazon Smbhav Venture Fund
New Delhi: Axio secured $20 million in equity funding from the Amazon Smbhav Venture Fund on Friday, as the digital consumer finance startup seeks to expand its lending capabilities and introduce additional credit products.
GQG Partners acquires 0.69% stake in Ambuja Cement with 1.71 cr share purchase
Mumbai: GQG Partners Emerging Markets Equity Fund acquired 1.71 crore shares on Friday, a 0.69% stake in Ambuja Cement Ltd., for Rs 625.5 per share through a bulk deal.
Religare confirms ED raids on its senior officials
Mumbai: Financial services provider Religare on Friday confirmed that the Enforcement Directorate (ED) had conducted raids at the residences of its senior officials on August 21, 2024, the Economic Times Reported.
Goldman Sachs cuts India's growth forecast by 20 basis points
Mumbai: Goldman Sachs Group Inc. has slashed India's growth forecast for this year and the next by 20 basis points, citing a reduction in central government spending, Bloomberg reported.
Goldman Sachs cuts India's growth forecast for FY25 & FY26 by 20 basis points
Mumbai: Goldman Sachs Group Inc. has slashed India's growth forecast for this year and the next by 20 basis points, citing a reduction in central government spending, Bloomberg reported.
Stocks of Nykaa's parent company jump 6.5% after reports of likely block deal
Mumbai: Nearly 4.09 crore shares, representing a 1.43 percent stake in Nykaa's parent company, FSN E-commerce, were traded in a block deal, with pre-IPO investor Harindarpal Singh Banga likely being the seller, Moneycontrol reported.
CDSL shares gain more than 12% after stock trades 1:1 ex-bonus
Mumbai/IBNS: The Central Depository Services (India) Ltd (CDSL) shares are trading ex-bonus in today's trading session as the bonus issue by the company took effect today.
Govt to appoint new external members to RBI MPC ahead of crucial rate meeting in October: Report
New Delhi/IBNS: The Government of India will appoint new external members to the Reserve Bank of India’s (RBI) monetary policy committee (MPC) by October at the latest ahead of a crucial meeting in which the MPC will face pressure to cut interest rates, Bloomberg reports, citing people familiar with the matter.
SEBI imposes 5-year ban on Anil Ambani, 24 others from participating in securities market
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI) — the regulatory body for securities and commodity market in the country — has imposed a five-year ban on industrialist and Reliance Group's managing director (MD) Anil Ambani and 24 other parties, including former senior executives of Reliance Home Finance, from participating in the securities market.
2.76% equity of Ambuja Cements changes hands at Rs 625.5 per share
Mumbai/IBNS: As many as 6.8 crore shares, or 2.76 percent equity, of Indian cement production major Ambuja Cements changed hands in the block deal window on Friday (August 23), reports said.
Dabur signs MoU with Tamil Nadu govt to invest Rs 400 cr in first production unit in South India
New Delhi/Chennai/IBNS: India's home-grown FMCG major Dabur plans to start its first manufacturing unit in South India by investing Rs 400 crore in the next five years.
Punjab’s industrial growth strategy wins praise from leading business tycoons
In a notable display of endorsement, prominent business leaders today commended Punjab’s industrial-friendly policies and pledged full support to enhance the state’s economic growth trajectory.
Amul globally rated as strongest food and dairy brand
India's Amul has been recognised as the strongest food and dairy brand globally, as per the Brand Finance Food & Drink 2024 report.
Rajesh Nambiar resigns as Cognizant's India CMD, appointed as Nasscom president
New Delhi/IBNS: Cognizant Technology Solutions Corp’s India chairman and managing director (CMD) Rajesh Nambiar has resigned from his post to become president of information technology (IT) industry body National Association of Software and Service Companies (Nasscom).
India's private sector activity slips slightly in August, shows HSBC Flash PMI
Mumbai/IBNS: India's private sector activity slipped to a three-month low of 60.5 in August from 60.7 a month back, according to preliminary data released on Thursday (August 22).
India sole Asia-Pacific market with double-digit growth in FMCG and tech durables: Report
A report by consumer research firm NielsenIQ (NIQ) highlights India's dominant position as the only market in the Asia-Pacific region consistently achieving double-digit growth in the FMCG, and tech and consumer durables (T&D) sectors, media reports said.