Vodafone Idea shares soar 19%, other telecom stocks surge as cabinet approves bank guarantee waiver
Nov 26, 2024, at 09:04 pm
Mumbai/IBNS: Telecom stocks surged on Tuesday (Nov. 26) following reports that the Union Cabinet approved waiving bank guarantees (BGs) for spectrum purchased before 2022.
Essar group's co-founder Shashikant Ruia dies at 81
Nov 26, 2024, at 08:35 pm
Mumbai/IBNS: Shashikant Ruia, the co-founder of the Essar Group and a patriarch of the billionaire Ruia family, passed away at the age of 81, the family announced in an official statement on Tuesday (Nov. 26).
Plastonix -Vee Technologies to develop a plastic waste recycling system in Karnataka
Nov 25, 2024, at 10:38 pm
Plastonix Inc., a Canada-based, plastics recycling technologies company, has announced signing a Memorandum of Understanding (MOU) with Bengaluru and New York co-headquartered technology and IT services company Vee Technologies to pursue a 50:50 joint venture to collaboratively develop a plastic waste recycling system in India using Plastonix’s patent-pending technology.
S&P lowers India's GDP growth forecast for the next two fiscal years
Nov 25, 2024, at 10:31 pm
New Delhi/IBNS: S&P Global Ratings has maintained India's GDP growth forecast for the current financial year 2024-25 at 6.8 percent, but has revised down its growth projections for the next two fiscal years.
Adani Group assures liquidity to meet debt obligations amid legal challenges
Nov 25, 2024, at 10:28 pm
Ahmedabad/IBNS: Adani Group has reassured investors that its listed companies have sufficient cash reserves to meet debt obligations for the next 12 months.
Adani Group reports record Rs 5 lakh crore asset base with robust growth
Nov 25, 2024, at 10:24 pm
Ahmedabad/IBNS: The Adani Group has demonstrated robust financial health and consistent growth, as highlighted in its H1 FY25 and Trailing-Twelve-Month (TTM) results.
Sensex soars 1,300 points in post-poll rally; Adani stocks surge with flagship firm gaining 4%
Nov 25, 2024, at 07:32 pm
Mumbai/IBNS: Indian stock markets rallied sharply on Monday (Nov. 25) following the BJP-led NDA's decisive victory in the Maharashtra assembly elections, which includes Mumbai, India’s financial hub.
Nov 23, 2024, at 09:31 pm
New Delhi/IBNS: India is unlikely to import Japan’s Shinkansen, or bullet train, for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) corridor, seven years after the project's launch, Moneycontrol reported.
RBI directs banks to reduce speculative trading against rupee: Report
Nov 23, 2024, at 07:29 pm
Mumbai/IBNS: In a rare intervention, the Reserve Bank of India (RBI) directed certain banks on Friday (Nov. 22) to reduce their long positions in the dollar-rupee trade to counter speculative activities affecting the rupee, which has fallen to an all-time low, Reuters reported, citing its sources.
India’s forex reserves record nearly $18 billion drop in a week amid investor exit
Nov 23, 2024, at 06:36 pm
Mumbai/IBNS: India's foreign exchange reserves witnessed a record decline of nearly $18 billion during the week ending November 15, as global investors continued to withdraw funds from Indian stock markets.
After US fraud indictments over bribery allegations, Adani Group faces global fallout
Nov 23, 2024, at 06:03 pm
Mumbai: Gautam Adani, chairman of the Adani Group, has been indicted by U.S. prosecutors, along with seven others, for allegedly paying bribes amounting to Rs 2,029 crore ($265 million) to Indian officials to secure solar power contracts across four states and a union territory.
India plans $5 billion incentive scheme to boost local electronics manufacturing
Nov 23, 2024, at 05:04 am
New Delhi: India is set to introduce an incentive program worth up to $5 billion to encourage domestic manufacturing of components for gadgets such as mobile phones and laptops, media reports said.
Adani Group faces potential funding challenges after US bribery indictment
Nov 23, 2024, at 02:56 am
New York: Gautam Adani’s conglomerate is staring at a possible funding crunch after a US arrest warrant was issued against the billionaire founder over an alleged $265 million bribery scheme, according to a Reuters report.
Mahindra teases sketches of BE 6e, XEV 9e
Nov 22, 2024, at 11:09 pm
Automobile major Mahindra has unveiled teaser sketches of its upcoming Electric Origin SUVs named the BE 6e and XEV 9e.
Ather Energy Limited unveils ‘Eight70 Warranty’ for the battery of its electric scooters
Nov 22, 2024, at 10:55 pm
EV scooter manufacturer Ather Energy Limited has introduced ‘Eight70 Warranty’ for its Ather 450 series and Rizta scooters, in collaboration with Reliance General Insurance.
Bitcoin soars to all-time high, nearing the $100,000 milestone
Nov 22, 2024, at 09:27 pm
New York/IBNS: Bitcoin extended its bullish run on Friday (Nov. 22), reaching a record high of $99,300, edging closer to the much-anticipated $100,000 mark.
Mukesh Ambani's Jio loses nearly 80 lakh subscribers in just 30 days; BSNL emerges as a gainer
Nov 22, 2024, at 08:19 pm
Mumbai/IBNS: Reliance Jio, India's largest telecom operator, suffered a significant blow in September, losing an alarming 7.97 million subscribers, according to the latest report by the Telecom Regulatory Authority of India (TRAI).
Sensex surges over 1,000 points as Adani Group stocks stage strong rebound
Nov 22, 2024, at 08:08 pm
Mumbai/IBNS: India’s stock market saw a robust recovery on Friday (Nov. 22), with benchmark indices rallying significantly during intraday trade.
Ola Electric likely to lay off 500 employees amid financial struggles: Report
Nov 22, 2024, at 07:57 pm
Bengaluru/IBNS: Ola Electric, currently facing controversies, a government investigation, and rising losses, is reportedly preparing to lay off around 500 employees as part of a restructuring initiative, reports Inc42.
Kenya cancels Adani airport and energy deals following US bribery indictment: Report
Nov 22, 2024, at 05:49 am
Nairobi: Kenyan President William Ruto announced on Thursday the cancellation of multimillion-dollar airport and energy deals with Indian tycoon Gautam Adani, following US bribery and fraud indictments against the billionaire, according to the Associated Press.
Why is US probing Gautam Adani over allegations of bribery in India?
Nov 21, 2024, at 11:34 pm
Mumbai: Adani Group chairman Gautam Adani, along with seven others, has been indicted by U.S. prosecutors for allegedly paying bribes amounting to Rs 2,029 crore ($265 million) to officials in India to secure solar power contracts across four states and one union territory.
Elon Musk's xAI raises $5 billion, doubling valuation to $50 billion
Nov 21, 2024, at 10:34 pm
California/IBNS: Elon Musk’s artificial intelligence (AI) startup xAI has secured $5 billion in a fresh funding round, boosting its valuation to $50 billion, according to a report by the Wall Street Journal on Wednesday (Nov. 20).
Byju Raveendran accused of trying to regain firm with hidden cash
Nov 21, 2024, at 08:23 pm
Bengaluru/IBNS: Byju Raveendran, the founder of the bankrupt Indian edtech company Byju’s, allegedly attempted to use hidden loan funds to secretly buy back a US-based software company under the control of an American trustee, according to new court filings.
'Baseless': Adani Group denies US charges of bribery and fraud against Gautam Adani
Nov 21, 2024, at 08:16 pm
New Delhi/IBNS: The Adani Group has denied the charges of bribery and fraud brought against its chairman, billionaire Gautam Adani, by the US Department of Justice and the US Securities and Exchange Commission.
Bitcoin surges past $97,000 for the first time amid optimism over Trump’s crypto-friendly policies
Nov 21, 2024, at 07:09 pm
New York/IBNS: Bitcoin reached an all-time high of $97,628 on Thursday (Nov. 21), fueled by expectations of a favourable regulatory environment for cryptocurrencies under President-elect Donald Trump.
Adani Group stocks plunge up to 20% after Gautam Adani charged with bribery and fraud in the US
Nov 21, 2024, at 06:22 pm
Mumbai/IBNS: Shares of Adani Group companies plummeted by up to 20 percent on Thursday (Nov. 21) following allegations against Gautam Adani and seven others in the United States for orchestrating a multibillion-dollar bribery and fraud scheme.
Ford to cut 4,000 European jobs, cites weak EV demand and competition
Nov 21, 2024, at 04:37 am
Berlin: Ford announced plans to cut around 14% of its European workforce, equating to 4,000 jobs, citing weak electric vehicle (EV) demand, limited government support, and competition from subsidized Chinese automakers, media reports said.
Nov 21, 2024, at 03:50 am
Bengaluru: The Indian government is reviewing a proposal to impose a temporary tax on Chinese steel imports, JSW Group Chairman Sajjan Jindal said, according to a Reuters report.
Donald Trump may impose 40% tariff on Chinese imports next year
Nov 21, 2024, at 03:44 am
Washington DC: The United States may impose tariffs of nearly 40% on Chinese imports early next year, Reuters reported, citing the outcome of a poll of economists it conducted.
Adani Group to build Mumbai’s largest international convention centre
Nov 20, 2024, at 10:58 pm
New Delhi: The Adani Group plans to invest around $2 billion to develop Mumbai’s largest international convention centre (ICC) near the international airport it operates, according to a report by Livemint.