Business News
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Centre reduces windfall tax on crude petroleum by over 35%
Indian government has slashed the windfall tax on crude petroleum by over 35.71%, lowering it from Rs. 9,800 per ton to Rs. 6,300 per ton.
Siemens forecasts sales growth to slow down in 2024
Siemens has provided a more conservative sales forecast for 2024 after announcing better-than-expected Q4 industrial profits.
JioCinema signs exclusive pact with Pokemon for streaming children's content
JioCinema, the entertainment division of Reliance, has inked an exclusive agreement with The Pokemon Company to offer children's shows and films on its platform.
New York sues PepsiCo over plastic pollution
New York has initiated legal action against PepsiCo, alleging that the company's single-use plastic bottles, caps, and wrappers are polluting the environment and jeopardizing public health.
India Inc's profits climb 41%, revenue up 6% in Q2
In the second quarter of the current fiscal year, India Inc saw a strong 41.4% growth in net profit, reaching an eight-quarter peak for a sample of 3,573 companies, as per the Economic Times (ET).
Bitcoin crosses $37,400 mark, up 120% this year
Bitcoin has climbed 5.2% in the past 24 hours to trade at $37,465.67. Compared to last week, it is up 2.29%.
Tata Technologies IPO price band set at Rs. 475-500
Tata Technologies has announced the price range for its initial public offering (IPO) at Rs. 475-500 per equity share of face value of Rs. 2.
TCS issues sudden transfer notices to over 2,000 employees
Tata Consultancy Services (TCS) has issued transfer notices to more than 2,000 employees at various locations, requiring them to relocate to their designated sites within 15 days, per the IT employee union Nascent Information Technology Employees Senate (NITES).
RBI orders Bajaj Finance to stop lending under two products
On November 15, the Reserve Bank of India (RBI) directed Bajaj Finance to halt the approval and distribution of loans under its 'eCOM' and 'Insta EMI Card' offerings, as stated in an official announcement.
Nifty Realty index touches 15-year high, up 84% since March
The Nifty Realty index soared to a 15-year high of 684.30 during Wednesday's intra-day trading, fueled by a promising outlook for real estate firms.
Dubai to build new mega airport as passenger traffic recovers
Dubai plans to outdo its current busiest airport, Dubai International, by constructing an even larger one, Al Maktoum International Airport, as passenger traffic is anticipated to exceed pre-pandemic levels.
Paytm collaborates with Amadeus to redefine travel ticket booking experience
One97 Communications, Paytm's parent company, revealed a new alliance with international travel tech firm Amadeus on Wednesday.
Nifty IT climbs 2.6%, all 10 stocks end in green
The Nifty IT index saw a sharp 2.59% rise on Wednesday, hitting 31,429.35, fueled by positive global and domestic factors.
Sensex climbs to 65,614 points, Nifty settles above 19,670 mark
On Wednesday, the stock market had a bearish opening but the benchmark Sensex and Nifty indices witnessed a surge.
Tencent Q3 revenue climbs 10% as games sales recover
Chinese tech giant Tencent Holdings saw a 10% surge in its third quarter revenue, hitting 154.6 billion yuan (Rs. 1.78 lakh crore).
India's October merchandise exports jump 6% YoY to $33.6bn
In October 2023, India's merchandise exports grew 6.23% to $33.57 billion, up from $31.60 billion the previous year, according to Commerce Secretary Sunil Barthwal.
UK inflation rate uexpectedly drops to 4.6% in October
UK inflation took a sharp nosedive in October, hitting its lowest point in two years. The rate, which shows how much consumer prices rise, dropped to 4.6% from 6.7% the month before.
SBI announces new lending rates: Check tenor-wise interest rates
State Bank of India (SBI), the nation's leading financial institution, has updated its marginal cost of funds-based lending rate (MCLR) starting November 15, 2023.
Siemens AG acquires 18% stake in Siemens India for €2.1bn
Siemens AG is set to acquire an 18% stake in Siemens India for €2.1 billion (around Rs. 3,380 per share) from Siemens Energy.
Why UCO Bank customers are unable to make IMPS transactions
Between November 10 and 13, 2023, government-owned UCO Bank experienced a technical issue affecting some Immediate Payment Service (IMPS) transactions, an exchange filing has revealed.
Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, Shiba Inu
Bitcoin has slipped 2.81% in the past 24 hours to trade at $35,612.19. It is 0.97% higher than the week before.
BharatPe-linked firms used backdated invoices to siphon off funds
The Delhi Police's Economic Offences Wing (EOW) has discovered evidence of fraudulent activity within fintech giant BharatPe, implicating co-founder Ashneer Grover and his family members.
Japan's GDP shrinks over 2% amid high inflation
Japan's economy shrank by 2.1% in the July-September quarter driven by slow consumption and exports, ending two quarters of growth.
Subrata Roy, founder of Sahara Group, dies after prolonged illness
Subrata Roy (75), the founder of Sahara India Pariwar, passed away on Tuesday.
IEA raises oil demand growth forecasts for 2023 and 2024
The International Energy Agency (IEA) has revised its oil demand growth projections for 2023 and 2024 upward, despite a slowdown in economic growth among major economies.
China to inject $137 billion for housing market boost
China has unveiled plans to allocate a minimum of 1 trillion yuan ($137.22 billion) in affordable financing for urban village renovations and low-cost housing initiatives, as reported by Bloomberg News.
Next India-UK free trade agreement talks to be held soon
The lead negotiators from India and the UK are gearing up for their next round of discussions on the proposed free trade agreement (FTA).
Markets worldwide rise ahead of US inflation data, US-China summit
Global stocks experienced a mostly positive trend on Tuesday, as investors eagerly awaited major events such as the US-China summit and economic data releases from the US, Japan, and China.
Why Centre is inviting bids for 20 critical mineral blocks
The Indian government is gearing up to open bidding for 20 essential mineral deposits, including lithium and graphite, within the next two weeks, as stated by Mines Secretary VL Kantha Rao.
Aviva Life Insurance's India office searched for alleged tax evasion
Income Tax Department officials recently conducted a search at the New Delhi office of Aviva Life Insurance, a subsidiary of the UK-based insurance giant.
Google fined Rs. 1.36cr for violating Russian data storage laws
A Moscow court has imposed a fine of 15 million roubles (approximately Rs. 1.36 crore) on Google due to its persistent refusal to store data of Russian users on local servers.
Dabur heads booked in Mahadev betting scam, company refutes allegations
The Mahadev betting app case has taken a new turn as the Mumbai Police filed an FIR against Dabur Group Chairman Mohit V Burman, Director Gaurav V Burman, and Bollywood actor Sahil Khan, among 32 others.
Wholesale inflation stays negative for 7th consecutive month in October
India's wholesale inflation persisted in the deflationary territory for the seventh consecutive month in October, registering at -0.52%, as reported by the Ministry of Commerce on November 14.
What are Pig Butchering scams? Zerodha's Nithin Kamath explains
Nithin Kamath, CEO of Zerodha, raised alarm over rampant financial scams, particularly the "pig butchering" ones.
You can now purchase products from Amazon within Snapchat
Amazon has recently forged a partnership with Snap, enabling users to buy items directly from advertisements within the Snapchat app, as reported by The Information.
Cryptocurrency prices: Check today's rates of Bitcoin, Ethereum, Dogecoin, Tether
Bitcoin has shed 0.94% over the last 24 hours, trading at $36,587.51. It is 4.94% higher than the previous week.
Once a street vendor, Bikanervala chairman passes away at 86
Kedarnath Aggarwal, the founder and Chairperson of Bikanervala, a renowned Indian sweet shop chain, passed away on Monday at the age of 86.
Musk-owned Tesla to double component imports from India: Piyush Goyal
Tesla, the US electric vehicle manufacturer, is set to double its import of components from India, as stated by Union Commerce Minister Piyush Goyal.
PRS Oberoi, stalwart of Indian hospitality, passes away at 94
Prithvi Raj Singh Oberoi, affectionately known as "Biki" and hailed as the doyen of Indian hospitality, breathed his last on Tuesday morning (November 14), confirmed a spokesperson for The Oberoi Group.
Retail inflation drops to 5-month low of 4.87% in October
India's retail inflation rate, as measured by the Consumer Price Index (CPI), dipped to a five-month low of 4.87% in October, according to the Ministry of Statistics and Programme Implementation.