All the 12 public sector banks earned a cumulative profit of about Rs 15,306 crore, registering a 9.2 per cent growth annually, despite poor showing by large lenders like SBI and PNB. During the April-June period of the previous fiscal, state-owned banks recorded a total profit of Rs 14,013 crore, accor...
Cautioning against the populist measures to garner votes from various political parties, Vice President M. Venkaiah Naidu on Tuesday said that the freebie culture has led to the deteriorating financial health of many states. “Government should definitely support the poor and needy, but at the same time...
Delhivery recorded a net loss of Rs 399 crore for the quarter ending June 30. This was a record low for the firm, which was twice the loss it had recorded during the same period in the previous fiscal. Delhivery recorded a net loss of Rs 399 crore for the quarter ending June 30. This ...
On Monday, Vishal Fabrics Ltd recorded a surge of 85 per cent in its net profit by reaching Rs. 18.95 crore for the first quarter. The denim manufacturer recorded a net profit of Rs 10.24 crore during the same quarter in the previous fiscal. There was an increase of 49.90 per cent in the revenue ...
Mumbai Khiladis, who are set to compete in the inaugural Ultimate Kho Kho season starting from 14th August 2022, launched their home and away jerseys for the season at a glitzy event in Mumbai today. Along with unveiling their official jersey, the Mumbai-based franchisee also announced Vijay Hajare as t...
The CAG has slammed the income tax department for not formulating a data sharing mechanism with the Home Ministry to keep track of foreign contributions received and their utilisation for the declared purpose by charitable trusts and institutions. The Comptroller & Auditor General’s (CAG) Perf...
On Tuesday, Amazon India made the announcement of a special diversity grant to support entrepreneurs in building their logistics businesses. This new initiative comes with an aim to bolster the participation of women, persons with disability, and people from the LGBTQIA+ community in Amazon’s Deli...
Google Outage Today: At the peak of outage, more than 30,000 user reports had indicated issues with Google in the United States alone Alphabet Inc’s Google services appeared to be back up after facing a brief global disruption on late Monday, according to outage tracking website Downdetector.com....
Former US President Donald Trump on Monday said the FBI was conducting a search of his Mar-a-Lago estate and their agents had broken open his safe, asserting that such an assault would only take place in broken, third-world countries. The 45th US President released a lengthy statement, where he declared...
Union Minister Jyotiraditya Scindia has urged the industry to take an active part in the advisory committees and said that the periodicity of the meetings will depend upon the industry’s desire to push forward to resolve issues common to the sector. In the first meeting held on Monday, it was decided th...
These provisions will make India an attractive destination for renewable energy investment. Among other provisions, it provides for penalties for violations by industrial units or vessels as well as on manufacturers if a vehicle fails to comply with fuel consumption norms. Making a case for the Energy C...
The Ministry of Tourism has now revamped its Swadesh Darshan scheme with an objective to create jobs, including self-employment for local communities, and preserve and enhance the local cultural and natural resources, the government has said. The ministry under this scheme provides financial assistance...
The Haryana government on Monday withdrew the Haryana Control of Organised Crime Bill, 2020, after “certain discrepancies” were pointed out by the Centre. The Bill had made special provisions for prevention and control of and for coping with criminal activity by organised crime syndicates or...
He said that 5,93,316 claims were paid amounting to Rs 11,866.32 crore under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Total 1,00,255 claims were paid amounting to Rs 1,990.57 crore under Pradhan Mantri Suraksha Bima Yojana (PMSBY), said Union Minister of State for Finance Dr Bhagwat Kisanrao Kar...
Updated Aug. 8, 2022 7:22 pm ET Listen to article (2 minutes) American Airlines Group said it expects to take its first delivery of a Boeing 787 Dreamliner as soon as Wednesday, its first after a long pause in deliveries of the jet that has created headaches for airlines and the manufacturer. Aviation s...
Updated Aug. 8, 2022 5:04 pm ET Listen to article (2 minutes) Nvidia said second-quarter sales would fall well short of its forecast amid a drop in gaming revenue in recent weeks, the latest sign that the pandemic-era boom for computer chips is waning. The Santa Clara, Calif., company expects revenue of...
In its official statement, Binance has said that it will be ceasing support of off-chain fund transfers between WazirX Exchange and Binance via the “Login with Binance” option. “As a result of the recent regulatory action taken against Zanmai Labs Pvt Ltd, in relation to their operations of the Wa...
In the wake of the reduction in liquor prices in Delhi and Maharashtra, Goa’s liquor traders seem to be worried about a shortage in customers as compared to before. The government data records a sharp low in the footfall of tourists in the post-pandemic era as compared to what was before. In 2019, about...
Nvidia Corp on Monday warned its second-quarter revenue would drop by 19 per cent from the prior quarter on weakness in its gaming business, sending the chip designer’s shares down about 5 per cent in early trading. The company reported preliminary results for the second-quarter just days after ch...
1. Tell us about your journey over the past 20 years, as DOMS has been one of the major players in the Indian stationery market. DOMS’s entire journey has been remarkable. When the founders Late Rasiklal Raveshia and Late Mansukhlal Rajani laid the foundations of DOMS in 1974 they began as OEM manufactu...
S Chand & Company Ltd turned PAT profitable in FY22 after three years of battling uncertainties on the National Education Policy and disruptions caused by the multiple Covid-19 induced lockdowns, which saw a nationwide shut down of educational institutions. The company not only surpassed the street’...
Under a multi-billion dollar revenue agreement, the chips will be produced in GlobalFoundries’ factories in the United States, Germany, Singapore and France Qualcomm and GlobalFoundries signed an agreement on Monday to more than double their existing long-term manufacturing agreement for chips use...
Hodlnaut, a Singapore-based crypto currency lender and borrower, has suspended withdrawals, swaps and deposits, the company said on Monday, the latest sign of stress in the cryptocurrency industry. The crypto lender also said it would withdraw its application for a license from the Monetary Authority of...
The heads of chipmakers GlobalFoundries and Applied Materials and carmakers Ford Motor and General Motors Co were to meet at a closed-door summit with US government officials on Monday to discuss administration plans to invest in semiconductors. On Tuesday, President Joe Biden will sign legislation to s...
The delayed 12th edition of India’s premier Defence exhibition Defexpo will be held at Gandhinagar in Gujarat from October 18 to 22, 2022, the Ministry of Defence announced on August 8. Defxpo – a land, naval and homeland security systems exhibitions – is a platform for congregation of the...
The Securities and Exchange Board of India (Sebi) has kept in “abeyance” Biba Fashion’s proposed initial share sale. Backed by Warburg Pincus and Faering Capital, the ethnic wear stalwart had filed its preliminary papers with the capital markets regulator Sebi on April 12 to raise funds thro...
Management Development Institute Society on Monday announced the appointment of former Chairman of State Bank of India (SBI) Rajnish Kumar as the new chairman of the board of governors. Kumar was a Member of the Board of Governors of MDI from 01 March 2019 and succeeds Interim Chairman T.V. Mohandas Pai...
The Delhi High Court Monday granted permission to 14 entities, which the Enforcement Directorate (ED) claims are connected to Chinese smartphone maker Vivo, to operate their frozen bank accounts subject to maintaining the balance which stood in the accounts as on the date of agency’s search in a m...
In a written reply to the Lok Sabha, Minister of State for Finance Bhagwat Kishanrao Karad said the COVID pandemic, energy transition issues and geo-political conditions affected several industries globally, particularly the oil and gas industry The government will decide on re-initiating the process of...
The long-awaited high-speed 5G services are expected to be rolled out in about a month, Minister of State for Telecom Devusinh Chauhan said on Monday. Addressing the inaugural event of the International Telecommunication Union’s Regional Standardisation Forum (RSF) for Asia and Oceania region, Chauhan s...
China on Monday continued its unprecedented military drills around Taiwan, extending the schedule of war games launched in retaliation to the visit by US House Speaker Nancy Pelosi to the breakaway island which Beijing claims is part of its territory. The People’s Liberation Army (PLA) Eastern The...
Paytm received positive feedback from top brokerages such as Goldman Sachs, JP Morgan, Morgan Stanley, ICICI Securities, Yes Securities and CLSA Paytm, one of India’s leading digital payments and financial services company and the pioneer of QR and mobile payments, has received positive feedback from to...
In one-of-its-kind celebrations, the 75th anniversary of India’s Independence will be observed in Boston with participation from 32 countries and will feature an airplane carrying a 220-feet US-India flag over the major American city. The celebrations this year have several firsts in the history o...
Maruti Suzuki India will increase its production and aims to produce 20 lakh units in the ongoing fiscal with improving availability of semiconductors, according to company Chairman RC Bhargava. In his address to shareholders in the company’s annual report for 2021-22, he said the upcoming mid-siz...
China search engine giant Baidu Inc said on Monday it has obtained permits to operate fully driverless robotaxi services on open roads from two Chinese cities, the first of their kind in the country. The permits, awarded by the southwestern municipality of Chongqing and the central city of Wuhan, allow...
United Parcel Service is nearing a deal to acquire Italy’s Bomi Group, according to people familiar with the matter, as the transportation giant looks to bolster its medical-product-distribution business. The deal, worth several hundred million dollars, could be finalized as soon as Monday assuming the...
Listen to article (2 minutes) Tom Alberg, an early investor in Amazon.com longtime adviser to Jeff Bezos and leader in Seattle’s technology and startup communities, died on Friday. He was 82 years old. Mr. Alberg was known in business circles as a “Day 1 investor” in Amazon and served on Amazon’s board...
CVS Health is seeking to buy Signify Health according to people familiar with the matter, as the drugstore and insurance giant looks to expand in home-health services. Signify Health is exploring strategic alternatives including a sale, The Wall Street Journal reported this past week. Initial bids are d...
Supermarket chain Karns Foods says it is getting ready for a recession. The family-run company in Mechanicsburg, Pa., is carrying more low-cost food brands and dropping some expensive products altogether. The grocer removed quart-size heavy cream products from some stores as they became more expensive a...
Listen to article (2 minutes) In May, shortly after the draft of the Supreme Court opinion overturning Roe v. Wade became public, location-data specialist Tapestri Inc. received unusual requests from two companies. Each wanted to purchase mobile-device data that would reveal users who had visited aborti...
A request by Ben & Jerry’s to block parent company Unilever sale of the ice-cream brand’s Israeli business is set to be heard by a New York court Monday in what lawyers say is a first-of-its-kind case. At the heart of the case is what powers Ben & Jerry’s independent board, a unique corporate-go...
HONG KONG—China’s export machine remained surprisingly resilient in July following a strong bounceback from the spring’s harsh Covid-19 restrictions, defying again predictions of softening global demand for Chinese-made goods. Chinese shipments to the rest of the world rose to $332.9 billion in July, Ch...
Indiana-based companies Eli Lilly & Co. and Cummins spoke against the state’s new abortion law, saying the restrictions could hurt the companies’ ability to keep and attract employees and could affect where the businesses grow. The Saturday statements came after Indiana’s governor on Friday signed a...
Evify, a tech-enabled EV logistics startup on Saturday joined forces with Creduce, a carbon credit consulting firm. This partnership will be focused towards minimisation of Evify’s carbon impact to foster sustainable logistics in India. This association with Creduce will propel Evify’s vision to...
Tech News Of The Week : • On Wednesday, Ashwini Vaishnaw, the Union Minister of Information and Technology, withdrew the Personal Data Protection Bill, 2019 • Over Rs 1.5 lakh crore was paid for 51,236 MHz of spectrum at the end of the 5G spectrum auctions. The major mid-band and high band were heavily...
Hindustan Petroleum Corporation Ltd (HPCL) on Saturday reported its highest ever quarterly net loss of Rs 10,196.94 crore in the June quarter as a freeze on petrol and diesel price revision wiped away record refining margins. A standalone net loss of Rs 10,196.94 crore during April-June compares with a...
Raymond Ltd clocked a consolidated net profit of Rs 81.93 crore for its first quarter this fiscal year. This was reached due to a sudden surge in sales by the company. The firm’s regulatory filing mentioned how it had clocked a net loss Rs 157.10 crore during the same quarter, previous year. The company...
Josh Halliburton joined Ford Motor Co. in January to help improve its shaky quality record. Within months it was clear how big a challenge he faced. In May, the auto giant recalled some Ford Expeditions and Lincoln Navigators after reports of fires while vehicles were parked. In June, it recalled roughl...
Max Ventures & Industries Ltd (MaxVIL) has won a bid to acquire about 4 acres of land in Noida for Rs 220 crore for development of a commercial project. In a statement, MaxVIL said its real estate arm Max Estates through its special purpose vehicle (SPV) had bid for the two land parcels being auctio...
The CBI has arrested four persons, including a deputy general manager of Orissa Stevedores Ltd, in a bribery case involving a top official of the Paradip Port Trust. Saroj Kumar Das, Chief Mechanical Engineer of Paradip Port Trust, had allegedly demanded Rs 60 lakh as bribe from the company through his...
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