Nestle announces $2.8 billion cost-cutting plan, ramps up marketing to boost growth under new CEO
Nov 24, 2024, at 01:43 pm
Nestle plans to ramp up marketing efforts, cut costs by at least $2.8 billion by 2027, and reorganize its premium drinks and water businesses into a separate global unit to accelerate growth under new CEO Laurent Freixe, Reuters reported.
Indian govt mulling minority stake sale in four state-owned banks: Report
Nov 24, 2024, at 01:43 pm
New Delhi: The Indian government is mulling offloading a minority stake in four state-owned banks to meet the public shareholding rules mandated by the country's markets regulator SEBI, a government source told Reuters.
WB govt to unveil IT infrastructure boosting policies: Min Babul Supriyo
Nov 24, 2024, at 01:43 pm
Kolkata/IBNS: West Bengal Information Technology (IT) and Electronics Minister Babul Supriyo said the state government is hopeful of rolling out a slew of policies including that on GCC, semiconductor as well as drone to facilitate the development of IT infrastructure in Bengal.
Adani Infra to buy 30% stake in construction firm PSP Projects in Rs 6.85 billion deal
Nov 24, 2024, at 01:43 pm
Adani Infra, a subsidiary of Gautam Adani's flagship Adani Enterprises, will buy a 30.07% stake in construction firm PSP Projects for Rs 6.85 billion ($81.2 million), Reuters reported, citing a company announcement by the latter.
IHCL plans to double hotel rooms, revenue by 2030 with Rs 5,000 cr capex
Nov 24, 2024, at 01:43 pm
Mumbai: Tata Group’s hospitality arm Indian Hotels Company Ltd (IHCL) has allocated capex of Rs 5,000 crore to increase its properties to over 700 by 2030, news agency PTI reported.
PE firm TA Associates' strategic investment in Vee Healthtek
Nov 24, 2024, at 01:43 pm
TA Associates, a global private equity firm, on Tuesday announced the completion of a strategic growth investment in Vee Healthtek, a prominent provider of technology-enabled solutions and services for healthcare organizations.
Indian aviation makes history as domestic airlines carry 5.05 lakh passengers in a single day
Nov 24, 2024, at 01:43 pm
New Delhi/IBNS: Indian aviation on Sunday (Nov. 17) achieved a historic milestone, surpassing 5 lakh domestic passengers in a single day for the first time.
Amazon India planning to relocate Bengaluru headquarters to save costs: Report
Nov 24, 2024, at 01:43 pm
Bengaluru/IBNS: Amazon India plans to shift its Bengaluru headquarters from the World Trade Centre (WTC) to a new office near the city’s airport, as reported by LiveMint.
Foxconn asks hiring agents to remove marital status in iPhone job ads: Report
Nov 24, 2024, at 01:43 pm
Chennai/IBNS: Apple supplier Foxconn has instructed its recruitment agencies in India to eliminate references to age, gender, marital status, and the company name in job advertisements, Reuters reported, citing its sources.
Indian-American CEO claims he got death threats after revealing 84-hour workweek policy
Nov 24, 2024, at 01:43 pm
San Francisco/IBNS: Daksh Gupta, Indian-origin CEO of the San Francisco-based artificial intelligence (AI) startup Greptile, recently ignited a fierce online debate after candidly sharing details about his company's intense work environment.
India to take centre stage for global fashion brands as Asian growth shifts: McKinsey report
Nov 24, 2024, at 01:43 pm
India is set to become a major focus for high-street fashion brands as international players increasingly turn to Asian growth markets like India for manufacturing, ANI reported, citing McKinsey & Company’s latest study.
Retail tomato prices fell by 22.4% in Nov due to increased supplies: Govt
Nov 24, 2024, at 01:43 pm
Retail tomato prices fell by 22.4% month-on-month in November, driven by improved supplies across the country, the Consumer Affairs Ministry said on Sunday.
Tata Electronics buys majority stake in Pegatron's only iPhone plant in India: Report
Nov 24, 2024, at 01:43 pm
India's Tata Electronics has entered into an agreement to acquire a majority stake in Taiwanese contract manufacturer Pegatron's sole iPhone plant in India, establishing a joint venture aimed at bolstering Tata's role as an Apple supplier, Reuters reported, citing sources.
Nov 16, 2024, at 08:52 pm
Mumbai: India's goal of becoming a $7-trillion economy by 2030 is achievable under the "strong" leadership of Prime Minister Narendra Modi, according to Chairman and CEO of JP Morgan Jamie Dimon.
Nov 16, 2024, at 08:52 pm
New Delhi: Billionaire Mukesh Ambani's Reliance has urged India’s telecom regulator TRAI to reassess the potential impact of Elon Musk's Starlink and Amazon's Kuiper before allocating satellite spectrum, citing concerns over local players being disadvantaged, Reuters reported.
Drone startup Airbound garners $1.7 million in seed funding round; to focus on deliveries
Nov 16, 2024, at 08:52 pm
Bengaluru: Drone technology startup Airbound has garnered Rs 1.7 million in seed round funding to implement its research and development plans focussing on medical deliveries, such as transporting blood samples from health centers to testing labs, media reports said.
Zepto to raise $300 million from domestic investors investors
Nov 16, 2024, at 08:52 pm
New Delhi: Quick commerce startup Zepto is set to raise $300 million from domestic investors, doubling its initial target, The Economic Times reported, citing sources.
Samsung Electronics to buy back shares worth $7.17 billion to increase shareholder value
Nov 16, 2024, at 08:52 pm
Mumbai: Samsung Electronics revealed plans to buy back shares worth 10 trillion won ($7.17 billion) over the next year to bolster shareholder value, Reuters reported citing a regulatory filing submitted after markets closed on Friday.
India’s foreign exchange reserves declined by $6.477 billion to $675.653 billion
Nov 16, 2024, at 08:52 pm
New Delhi: India’s foreign exchange reserves declined by $6.477 billion to $675.653 billion for the week ending November 8, according to RBI data released on Friday.
Moody's says Indian economy in a favourable state, forecasts 7.2% growth in CY 2024
Nov 16, 2024, at 08:52 pm
New Delhi: The Indian economy is currently in a favourable position, combining strong growth with moderating inflation, according to Moody's Ratings, which forecasts GDP growth of 7.2% for calendar year 2024 and 6.6% for 2025.
SBI targets $1.25 billion in one of India's largest bank lending in 2024
Nov 16, 2024, at 08:52 pm
Mumbai/IBNS: The State Bank of India (SBI) is set to raise up to $1.25 billion through a dollar-denominated loan, marking the largest such borrowing by the country’s financial sector this year, Bloomberg reported, citing sources familiar with the matter.
India's goods trade deficit widens to $27.14 billion in October as imports surpass exports
Nov 16, 2024, at 08:52 pm
Mumbai/IBNS: India's merchandise exports surged 17.23 percent year-on-year (YoY) in October, reaching $39.2 billion, the fastest growth in 28 months, fueled by strong demand in key markets ahead of the Christmas season.
Hyundai Motor Group appoints Jose Munoz as CEO; South Korean automaker's first-ever foreign leader
Nov 16, 2024, at 08:52 pm
Seoul/IBNS: Hyundai Motor Group has appointed Jose Munoz as its Chief Executive Officer, marking the first time a foreign national will lead the South Korean automaker.
India sees opportunities to engage in Turkmenistan’s energy sector
Nov 16, 2024, at 08:52 pm
Turkmenistan presents India with an opportunity to boost energy security, strengthen regional ties, and deepen its strategic influence in Central Asia.
Rapido GOV grows 2.5x in Q2FY25, loss narrows to Rs 17 cr
Nov 16, 2024, at 08:52 pm
Bengaluru: Low-cost mobility platform Rapido on Thursday reported a 2.5x increase in Gross Order Value (GOV), reaching Rs 2,461 crores in Q2FY25, up from Rs 977 crores in Q2FY24.
Reliance, Viacom 18, Walt Disney complete merger, creating India’s largest integrated media platform
Nov 16, 2024, at 08:52 pm
Mumbai: Reliance Industries Limited (RIL), Viacom18 Media Private Limited, and The Walt Disney Company announced on Thursday the official completion of their merger, which combines Viacom18’s media and JioCinema businesses with Star India Private Limited (SIPL), media reports said.
Hero MotoCorp Q2FY25 profit rises 14% YoY to Rs 1,204 cr
Nov 16, 2024, at 08:52 pm
Mumbai: Hero MotoCorp, the world’s largest two-wheeler manufacturer, reported a 14% YoY increase in net profit, reaching Rs 1,204 crore in Q2 FY25, driven by higher sales volumes, media reports said.
Blackstone eyes 20% stake in Haldiram's snacks business amid valuation clash
Nov 16, 2024, at 08:52 pm
Mumbai: Blackstone has abandoned plans to acquire a majority stake in India’s Haldiram's snacks business and is now negotiating for a 20% stake at a valuation of $8 billion, which remains a point of contention, Reuters reported on Thursday.
Nov 16, 2024, at 08:52 pm
Kolkata/IBNS: At least 31 women entrepreneurs from the north-eastern states of Tripura and Mizoram with nano enterprises participated in a two-day bootcamp in Kolkata's American Center to learn about entrepreneurship skills and discuss next steps for building small businesses.
Boeing to layoff 10% workforce to boost efficiency but risks losing top talent: Report
Nov 16, 2024, at 08:52 pm
Boeing Co. will begin issuing layoff notices on Wednesday to employees impacted by its latest round of job cuts, a move that reflects the company's effort to boost efficiency while striving to retain a skilled workforce critical for future growth, Bloomberg reported.