Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
OTT services are exempt from Telecom Bill 2023: Ashwini Vaishnaw
Earlier this week, the Indian Government presented new legislation to substitute three existing laws governing the telecom industry within the country.
Infosys loses $1.5 billion AI contract from global customer
Infosys has revealed that an unnamed global company has chosen to terminate a Memorandum of Understanding (MoU) for a $1.5 billion deal centered on artificial intelligence solutions.
Air India to receive its first Airbus A350-900 aircraft today
Air India is gearing up to receive its first Airbus A350-900 at Delhi Airport today, as per reports.
OpenAI is seeking fresh funding at $100bn valuation
OpenAI is in talks to secure a new round of funding that could value the company at a whopping $100 billion or more, according to Bloomberg.
Cryptocurrency prices today: Check rates of Bitcoin, Dogecoin, Tether, BNB
Bitcoin has slipped 1.39% in the past 24 hours to currently trade at $43,536.13. It is 3.01% higher than the week before.
Equity traders can soon withdraw cash same day after trades
The Securities and Exchange Board of India (SEBI) is considering introducing optional T+0 and instantaneous settlement of trades in the equity cash segment, alongside the current T+1 settlement cycle.
India's forex reserves jump $9bn to nearly $616bn
India's foreign reserves jumped by $9.11 billion, hitting $615.97 billion for the week ending December 15, according to the Reserve Bank of India (RBI).
Vi launches Rs. 3,199 annual plan with Prime Video subscription
Vi (Vodafone Idea) has introduced a Rs. 3,199 annual prepaid recharge plan that comes bundled with a one-year Amazon Prime Video mobile subscription.
Sachin Tendulkar-backed Azad Engineering IPO subscribed over 80 times
Cricket legend Sachin Tendulkar-backed Azad Engineering's Rs. 740 crore IPO is seeing a strong response on the final day of bidding. The issue has been subscribed over 80 times.
ICICI Direct predicts Nifty50 to reach 24,200 in 2024
ICICI Securities predicts a bright future for the Nifty50 index, setting a target of 24,200 by 2024. This growth is expected to be fueled by foreign fund inflows.
Commercial LPG cylinder costs slashed by Rs. 39.5: Check rates
In a considerable relief for commercial consumers, state-run oil marketing companies slashed the price of the 19kg commercial liquefied petroleum gas (LPG) cylinder by Rs. 39.5 on Friday.
Sensex gains over 240 points, Nifty settles near 21,350 mark
On Friday, the benchmark Sensex and Nifty indices showed an upward trend since the opening bell. The Sensex rose 0.34% to 71,106.96 points while the Nifty gained 0.44% to end at 21,349.40 points.
UK economy shrinks in Q3, raising recession fears
The United Kingdom's economy has shrunk by 0.1% in the third quarter, as per updated official data, raising concerns about a possible recession.
NCLT to hear BCCI vs BYJU'S case on January 17
The National Company Law Tribunal (NCLT) in Bengaluru has set a hearing for January 17 in the high-profile case between the Board of Control for Cricket in India (BCCI) and edtech giant BYJU'S.
'Fight bullsh*t and bureaucracy': OpenAI's Sam Altman shares leadership lessons
Sam Altman, the CEO of OpenAI, has shared valuable insights on effective business strategies and team dynamics in a blog post titled "What I wish someone had told me."
Big tech firms seek clarity on Telecommunications Bill's scope
The Asia Internet Coalition (AIC) has requested clarification from the Indian government on the recently passed Telecommunications Bill 2023.
Tencent loses $46bn in m-cap amid China's online gaming curbs
China is cracking down on online gaming, implementing new measures to curb spending and content, which has led to a massive $46 billion loss in Tencent's value.
Why latest Apple Watches are being banned in US
On December 18, Apple said it would remove the latest Series 9 and Ultra 2 smartwatches from its site by December 21 and stores by December 24.
Today's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Solana, BNB
Bitcoin has risen 1.13% over the last 24 hours to trade at $44,113.15. It is up 3.20% from last week.
Richard Branson-backed Hyperloop One is shutting down
Hyperloop One, a start-up once supported by Richard Branson's Virgin Group, is set to close its doors on December 31, Bloomberg reports.
Amazon Prime vs Prime Lite: Which membership is better
Amazon has reduced the price of its affordable Prime membership plan called Prime Lite. It now costs Rs. 799 per year, as opposed to Rs. 999.
India's start-up ecosystem: Tracing its growth and challenges in 2023
India's start-up ecosystem has undergone a transformative journey over the past decade.
Zomato makes offer to acquire Shiprocket
Leading food delivery company Zomato has proposed a deal to acquire Indian e-commerce shipping start-up Shiprocket, according to Bloomberg.
Sensex gains over 350 points, Nifty settles above 21,250 mark
On Thursday, the stock market had a bearish opening but the benchmark Sensex and Nifty indices witnessed a surge. The Sensex jumped 0.51% to 70,865.1 points while the Nifty climbed 0.49% to 21,255.05 points.
SBI to sign €200 million LoC with European Investment Bank
The State Bank of India (SBI) revealed plans to sign a €200 million (around Rs. 1,800 crore) Line of Credit (LoC) with the European Investment Bank (EIB) to support climate action initiatives in India.
How online gaming industry is countering the 28% GST impact
The online gaming industry is grappling with the effects of the 28% Goods and Services Tax (GST) implemented since October 1.
AI start-up Anthropic is in talks to raise $750mn
Anthropic is in talks to raise a whopping $750 million (nearly Rs. 6,250 crore) in a funding round led by Menlo Ventures, according to Reuters.
X is back online after hour-long global outage
Around 11:00am on Thursday morning, the microblogging site X, previously known as Twitter, encountered a technical issue.
INOX India lists at Rs. 950, 44% above issue price
INOX India made a strong entrance on the stock exchanges today, with shares opening at a 44% premium over the issue price.
NSE's active users increase for fifth month in a row
The National Stock Exchange (NSE) has witnessed a fifth consecutive month of growth in active users.
Warner Brothers Discovery and Paramount are in merger talks
Shares of Warner Brothers Discovery took a 5% hit amid rumors of potential merger talks with Paramount Global.
Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, Dogecoin, Tether
Bitcoin has climbed 2.36% in the past 24 hours, trading at $43,621.72. It is 1.95% higher than last week.
Decoding India's economic growth: Key contributing sectors and future outlook
India's economic performance has been impressive lately, marked by a solid 7.8% growth in the first quarter and sustained momentum with a strong 7.6% growth in the second quarter of the current fiscal year.
Mumbai-based couple acquires 19% stake in SpiceJet for Rs. 1,100cr
Mumbai-based entrepreneur Harihara Mahapatra and his wife Preeti will acquire a 19% stake in budget airline SpiceJet, investing Rs. 1,100 crore.
UPI transactions reach Rs. 17.4 lakh crore this December
Reserve Bank of India (RBI) has disclosed in its monthly bulletin that transactions via Unified Payments Interface (UPI) reached Rs. 17.4 lakh crore in December 2023.
ShareChat lays off 200 employees in a cost-cutting move
ShareChat, a prominent social media platform, has announced the layoff of nearly 200 employees, which accounts for 15% of its workforce.
Indian companies' dollar bond fundraising hits 14-year low: Here's why
In 2023, Indian companies experienced their lowest dollar bond fundraising since 2009, raising a mere $4.1 billion through six bond issues.
Sensex plummets 930 points, Nifty falls to 21,150 mark
On Wednesday, the benchmark Sensex and Nifty indices witnessed a slump. While the Sensex slipped 930.88 points, or 1.30%, to 70,506.31 points, the Nifty shed 302.95 points, or 1.41%, to 21,150.15 points.
Bank of Baroda, NABARD, and IREDA raise crores through bonds
Bank of Baroda has raised Rs. 2,500 crore via 10-year Basel-III Tier-II bonds, offering a 7.75% coupon rate.
Trends that defined India's stock market in 2023
The year 2023 has been quite a ride for India's stock market. The mid-cap and small-cap stocks have been on a rollercoaster of a rally, stirring up a lot of excitement among investors.