The economy of China is facing a challenging scenario as rising interest rates and inflation dampen demand in the United States and Europe, while the country battles a significant decline in prices. The producer price index (PPI) fell at the fastest pace in seven years in May, indicating a slowing manufacturing sector and raising concerns about deflationary risks.
The Reserve Bank of India (RBI) is aiming to onboard one million users for its central bank-backed digital currency (CBDC) by the end of June, according to T Rabi Shankar, Deputy Governor of RBI. He made this announcement during a press conference following the monetary policy announcement on Thursday.
Protests have erupted against the expansion plans for the Gevra coal mine in the eastern province of Chhattisgarh, posing challenges to Coal India Ltd’s ambitions to increase its annual capacity to 70 million tons.
At the Worldwide Developers Conference 2023, Apple unveiled its highly anticipated mixed-reality headset, capturing the attention of tech enthusiasts worldwide. However, this was not the only exciting announcement from the American tech giant. Apple also provided a preview of upcoming features and tools that will be available on its platforms later this year. One such tool that caught the spotlight is the Game Porting Toolkit for Macs, set to accompany the release of macOS Sonoma.
According to government sources, oil marketing companies (OMCs) are expected to reduce prices of petrol and diesel. The companies have shown positive quarterly results and have almost recovered their losses, indicating a return to normalcy.
The expectation for lower fuel prices stems from the fact that OMCs no longer face under-recoveries in petrol and diesel. Additionally, an oil production cut by one of the members of the Organization of the Petroleum Exporting Countries (OPEC) is believed to have minimal impact due to emerging alternative markets.
Suppliers to Chongqing Changan Automobile, a state-owned Chinese automaker, have expressed their dissatisfaction after the company reduced their payments by 10%. The suppliers argue that they are unfairly being made
Oil prices encountered a modest downturn on Tuesday, reversing the progress achieved the day before. In spite of Saudi Arabia’s declaration of a substantial reduction in production, apprehensions regarding the
In a recent statement, the Bank of Korea (BOK) expressed its preference for maintaining dollar liquidity rather than increasing its gold holdings for foreign exchange reserves. The BOK’s Reserve Management Group highlighted the need for a cautious approach in determining the gold-to-reserves ratio, citing various factors influencing their decision.
Embassy Office Parks REIT, India’s first listed Real Estate Investment Trust (REIT), recently announced its successful debt raise of Rs 1,050 crore through non-convertible debentures (NCDs). This campaign is being held in order to refinance bank loans whose interest rates are about to reset.
PayPal, a name synonymous with groundbreaking advancements in digital transactions, has revolutionized the way we engage in financial exchanges. This pioneering company, founded in December 1998 by visionaries including Peter
Investor sentiment regarding the euro zone economy took a downturn in June, largely driven by negative expectations for Germany, the largest economy in Europe, according to a survey conducted by economic analysis company Sentix.
The monthly survey, which assesses whether investors hold positive or negative views on growth prospects, revealed a drop in sentiment to -17 points for June, compared to -13.1 in May. This figure was even lower than the expected -15.1 predicted by analysts surveyed by Reuters.
Private sector economic activity in South Africa has contracted for the third month in a row, according to the latest survey from S&P Global. The South Africa Purchasing Managers’ Index (PMI) fell to 47.9 in May, marking its lowest level since July 2021. The PMI is an indicator of economic health, with readings above 50 indicating growth in activity.
China’s services sector experienced a pick-up in activity during May, according to a private-sector survey released on Monday. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 57.1 in May, up from 56.4 in April. This expansion in the services sector supports China’s consumption-led economic recovery in the second quarter. The survey’s findings differ from the official PMI, which was made public last week and showed a slower rate of increase in the services sector.
Indian service Sector Purchasing Managers’ Index (PMI) recorded a figure of 61.2 in May, according to S&P Global. While slightly lower than April’s reading of 62, May’s figure marks the second-highest level since June 2010. This sustained expansionary trend is significant, as a PMI reading above 50 indicates growth in the services sector. In fact, India has been in the expansion zone for 23 consecutive months since August 2021. The latest PMI data reflects the resilience of demand, impressive output growth, and job creation in India’s dynamic service sector.
Sri Lanka’s economy, which had been grappling with severe financial challenges, has exhibited tentative signs of improvement, according to a top official from the International Monetary Fund (IMF). The official
Adani Wilmar, a renowned company, has recently made an exciting foray into the whole wheat market with its esteemed brand, Fortune. This move aims to cater to the discerning preferences
The Indian government aims to generate revenue through disinvestment in the current financial year. While plans for stake sales in IDBI Bank and Concor are underway, the government may resort
Physis Capital, a growth-stage investment fund, has recently announced the first close of its $50 million fund at $7 million, with a final close expected in 2024. This fund aims
Veteran industrialist Karumuttu T Kannan, aged 70, passed away on Tuesday morning in Madurai, leaving behind a legacy of remarkable achievements. Renowned as a prominent board member of TVS Motor
Introduction: A recent meeting between White House and Republican congressional negotiators to discuss raising the federal government’s debt ceiling has ended without progress or a set date for another meeting.
Infosys, an IT firm, has recently taken measures to address approaching challenges by reducing the average variable payout at an organizational level. For the fourth quarter of the financial year
On Tuesday, U.S. stocks closed lower as a combination of mixed economic data, weak corporate results, and ongoing debt ceiling negotiations in Washington affected investor risk appetite. While all major
The finance minister of the Philippines, Benjamin Diokno, has stated that the country’s central bank has no reason to raise interest rates further as domestic inflation is easing. Diokno’s opinion
Shadowfax, a last-mile logistics enterprise supported by Flipkart, intends to employ an additional 10,000 riders and delivery associates to seize the opportunities presented by India’s state-sponsored Open Network for Digital
A former chief of engineering at Bytedance in the United States has alleged that the enterprise terminated him upon voicing his concerns regarding the company’s acquisition of user-generated content from
The Indian Ministry of Corporate Affairs proposes revisions to the IBC (Insolvency and Bankruptcy Code) which would allow partial sales of stressed companies under the law if a rescue plan
US Treasury Secretary Janet Yellen has opined that the contemporary banking milieu and the concomitant diminution of earnings at certain regional banks may lead to an accentuated consolidation in the
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) recently informed the National Company Law Tribunal (NCLT) about an order passed by the Securities and Exchange Board of India
Fitch Ratings, a preeminent rating agency, has revalidated the Issuer Default Rating (IDR) of Tata Steel (TSL) at ‘BB+’ with a favorable outlook. Additionally, it has reaffirmed the long-term IDR
India Woos Global Tech Companies with Incentive Schemes and Micron Technology Investment. Communications Minister Ashwini Vaishnaw is scheduled to meet top executives of tech and semiconductor companies in the US,
On Tuesday, Fitch maintains India’s credit rating at BBB and projected a stable outlook, noting the nation’s formidable growth prospects and resilient external finances as principal strengths. As per the
The Reserve Bank of India (RBI) is poised to amass significant gains from its foreign exchange dealings and loans to domestic financial institutions, which will translate to a substantial boon
A relatively obscure culinary delivery alternative in India, the Open Network for Digital Commerce (ONDC), has surfaced with its cost-effective food transportation facilities. Nevertheless, ONDC extends beyond the confines of
India and Russia have reportedly suspended negotiations on a bilateral trade settlement mechanism in rupees. The discussions aimed to establish a permanent payment mechanism in rupees to facilitate cheaper transactions
Cognizant, an IT services company listed on Nasdaq, has announced its plans to lay off 3,500 employees due to an expected revenue decline in 2023. This decision comes as customers
China promotes Yuan as a global currency, in global trade and finance in an effort to reduce the dominance of the US dollar in the international financial system. Over the
Several Indian start-up founders have spoken out against the Internet and Mobile Association of India (IAMAI), accusing the industry body of promoting “pro-foreign” Big Tech views on government regulations and
Ohm Mobility, an Indian company that finances electric vehicles (EVs), has raised INR 30 million (approximately $400,000) in pre-seed funding led by Antler India, a venture capital firm. Other participants
The Securities and Exchange Board of India (SEBI) has put forward a directive to disallow stockbrokers and clearing members from employing their clients’ funds to construct bank guarantees (BGs). SEBI
Bangladesh has taken a momentous decision to grant India the authorization to utilize its ports, Chattogram and Mongla Ports, for the transit and transshipment of cargo vessels. The National Board
Taiwanese electric scooter manufacturer, Gogoro, is planning to make India its global hub for manufacturing electric two-wheelers and for exporting them to all its markets worldwide. The company, which currently
Introduction: Razorpay, an ingenious financial technology enterprise, was founded in 2014 by Shashank Kumar and Harshil Mathur in Bengaluru and in this blog, we are going to discuss Razorpay’s Trailblazing
The Reserve Bank of India (RBI) has removed restrictions on individuals opening interest-earning Foreign Currency Accounts (FCA) in India’s International Financial Services Centre (IFSC). This move is part of the
Anil Agrawal, the Chairman of Vedanta Group, has assured stakeholders that Vedanta Resources Limited (VRL) is financially stable and capable of meeting its debt obligations comfortably. Speaking to The Economic
Boeing, the American aerospace company, is reportedly facing some production challenges with its best-selling jet, 737 MAX, which may result in delayed deliveries for Air India and Akasa Air. CNBC
Volvo Cars Tech Fund has announced its investment in an Israeli startup, CorrActions, which has developed AI-powered software capable of detecting cognitive abnormalities in drivers and passengers. The technology uses
Analysts expect Bajaj Auto, the two-wheeler auto major, to report a decline in revenues of up to 11% quarter-on-quarter (QoQ) to Rs 8,312 crore in the January-March quarter (Q4FY23), due
High attrition rates continue to be a problem for two of India’s three major information technology (IT) firms, TCS and Infosys, according to their Q4 financial results. However, experts predict
Apple is developing an app for its iPhone which will permit users to monitor their physical and mental well-being. The application will enable users to log their everyday actions and
India’s economy showed resilience in March despite weakening exports and an increase in unemployment, according to Bloomberg’s Animal Spirits barometer. The overall activity tracker, which comprises eight high-frequency indicators, remained
Microsoft’s Digital Marketing Centre (DMC) platform will no longer support Twitter from April 25, according to an announcement by Microsoft. The platform allows businesses to manage ad campaigns across various
India’s Centre for Development of Telematics (C-DOT) CEO, Rajkumar Upadhyay, said that India’s push for domestic design and telecom equipment manufacturing of would help India compete with global majors. Upadhyay
Financial technology (fintech) firms are seeking to strengthen their legal teams as governments around the world increase regulations and compliance requirements. According to a report in The Economic Times (ET),
Indian fintech unicorn Razorpay has established an advisory board of industry leaders from various fields to set the highest standards in customer experience, corporate governance, and risk and compliance in
The Indian Federation of App-Based Transport Workers (IFAT) has called on Blinkit, a quick-commerce unicorn owned by Zomato, to reconsider its recent pay cuts for delivery drivers. The national general
Indian state refiners have reported an 8.4% increase in sales of gasoil during the first half of April compared to the previous month. According to preliminary sales data, this rise
Coca-Cola has purportedly procured an insignificant stake in Thrive, an online food delivery platform, to obtain an advantage over its competitors. This strategic investment will furnish Coca-Cola with an opportunity
On Friday, Union Minister Darshana Jardosh addressed a plenary session on grassroots leadership and entrepreneurship at the second Women 20 (W20) international meeting in Jaipur. Jardosh stressed that India is
U.S. Energy Secretary Jennifer Granholm and other senior energy and environment officials from the Group of Seven advanced economies recently attended meetings in Hokkaido, northern Japan, to discuss climate change,
Foxconn Technology Group, a Taiwanese multinational electronics contract manufacturing company, is set to begin construction of its largest manufacturing unit in India. The mobile manufacturing plant, worth Rs 8,000 crore,
Former Chief Executive Officer (CEO) of Twitter, Parag Agrawal, along with two other former executives, are taking legal action against Elon Musk-owned Twitter over the non-payment of personal legal expenses
A recent report by Redseer Strategy Consultants suggests that India’s e-commerce logistics space will exceed 10 billion parcels by FY28, thanks to new categories and growth in Tier 2+ cities,
The Pradhan Mantri Mudra Yojana (PMMY) has played a crucial role in funding micro-entrepreneurs in India, according to Prime Minister Narendra Modi. The scheme, which was launched eight years ago,
China has sent warships and aircraft near Taiwan for a second consecutive day, following Taiwanese President Tsai Ing-wen’s meeting with US House Speaker Kevin McCarthy. Three Chinese warships sailed in
The executive director of the International Monetary Fund (IMF), Kristalina Georgieva, has issued a warning regarding the long-drawn-out deceleration of the global economy, which has been brought about by the
Samsung Electronics and chip-maker AMD have announced that they have signed a multi-year agreement extension to bring multiple generations of high-performance, ultra-low-power AMD Radeon graphics solutions to an expanded portfolio
CRISIL Report Forecasts Deceleration, India’s Information Technology (IT), companies are anticipated to encounter a deceleration of 7-9% in revenue growth in 2023 in contrast to this year, as a consequence
On Tuesday, Finance Minister Nirmala Sitharaman will introduce the Competition (Amendment) Bill, 2022 in the Lok Sabha for consideration and passing. The proposed legislation seeks to amend the Competition Act,
Pegatron Corporation, a Taiwan-based company, specializes in the development, manufacturing, and design of computers, computer hardware, portable devices, and associated peripheral devices. The company was founded on January 1, 2008.
The Indian Government Takes Proactive Measures to instruct state-run banks to adopt stricter monitoring of top corporate loan accounts and submit a plan to deal with business risks in key
Chennai-based construction and construction material manufacturing company Renaatus Projects has secured a $29m contract from the Maldives government to upgrade infrastructure at the international airport on Gan Island. The Exim
ICRA, a credit rating agency, ICRA improves the outlook for infrastructure finance companies from “stable” to “positive”. This decision comes after the sector witnessed an improvement in investments and asset
According to recent research by LinkedIn, 63% of Indians feel that working remotely has not affected their careers, but an equal proportion believe that their professional growth could be impacted
On Tuesday, Chief Minister Basavaraj Bommai inaugurated a convention for the beneficiaries of State and Union Government schemes in Ilkal, Hungund Assembly constituency. During the event, he highlighted the various
A recent study by the US Department of Energy’s Lawrence Berkeley National Laboratory suggests that India can achieve energy independence by 2047, coinciding with the country’s 100 years of independence
Leading Indian distributors have expressed their concern over the price war between fast-moving consumer goods (FMCG) companies. They fear that the ongoing tussle between these companies will negatively impact their
Info Edge (India) Ltd, a leading online classifieds company, has faced several challenges in their key segments, including recruitment, real estate, and matchmaking. Their Q3FY23 results caused a sharp drop
Chinese smartphone manufacturer Xiaomi Corp is rethinking its strategy in India after underestimating changing consumer preferences. Despite being the largest vendor in India’s smartphone market, Xiaomi has been surpassed by
Cybersecurity researchers have identified a significant rise in YouTube videos containing links to malware that can steal sensitive financial data from computers. CloudSEK, an AI cybersecurity company, revealed that it
DLF, a major realty developer in India, is close to completing its second commercial project in Chennai, called ‘DLF Downtown’. The project is aimed at catering to clients in the
Flipkart co-founder Binny Bansal is reportedly considering a significant investment of $100-150 million in the digital payments platform, PhonePe. The company is in the midst of a funding round,
WatchGPT, an app designed specifically for Apple Watch users, has been launched to grant them access to ChatGPT, the esteemed AI-fueled chatbot from OpenAI. Priced at $3.99 (roughly £2.90), the
Jio Platforms, a subsidiary of Indian conglomerate Reliance Industries Ltd, has announced its intention to acquire communications equipment manufacturer Mimosa Networks for $60 million. The acquisition is aimed at bolstering
India’s preeminent information technology corporation, Tata Consultancy Services (TCS), is allegedly nearing completion of a transaction worth a staggering $1 billion with the United Kingdom-based retail giant, Marks & Spencer
Indian direct-to-consumer D2C silver jewellery startup GIVA has secured INR 40 crore ($4.8m) in debt funding from venture debt company Alteria Capital. The company intends to use the funds to
Prime Minister Narendra Modi recently spoke about the significance of the PM Gati Shakti Master Plan in an infrastructure and investment webinar. The Master Plan is a critical tool that
Lufthansa, the distinguished German flag bearer, has proclaimed its restoration of profitability in the year 2022, following two consecutive years of losses triggered by the Covid-19 pandemic. The carrier attributed
Paytm, a digital payments and financial services firm saw an increase in stake from Chinese investor Ant Financials and domestic mutual fund players following a recent buyback. According to a
Qualcomm, a semiconductor manufacturer, has revealed that its Snapdragon satellite technology will soon be available on a majority of Android smartphones. This development was confirmed by 9To5Google, which reported that
The Cellular Operators’ Association of India (COAI) has defended its position on the demand for reasonable “usage charges” from Over-The-Top (OTT) communication service providers, stating that it is a reasonable
According to TechCrunch, Microsoft is set to release a new hybrid cloud platform, the “Azure Operator Nexus,” specifically designed for communication service providers. The platform is intended to help these
The Indian stock market has been facing several challenges in recent months, resulting in a decline in trading volumes and a loss of faith from investors. The market reached a
The G20 Presidency of India is deemed to be of utmost significance, particularly during the present times when the world faces various challenges such as the conflict in Ukraine, disruptions
The Singapore Indian Chamber of Commerce and Industry (SICCI) has advised Small and Medium Enterprises (SMEs) operating within the city-state to utilize the PayNow-UPI linkage to facilitate business transactions with
In 2022, India’s True Wireless Stereo (TWS) earbuds shipments registered an impressive 85% year-on-year growth, with boAt leading the market for the third consecutive year. This was revealed in a
Bharat Electronics Limited (BEL), a defence Public Sector Undertaking, and Israel Aerospace Industries (IAI) have recently signed a Memorandum of Agreement (MoA) to establish a joint venture. The primary objective
Nestle India Ltd, a leading fast-moving consumer goods company, announced a significant rise of 65.50% in their net profit for the fourth quarter, which concluded on December 31, 2022. The
On Thursday, the information technology (IT) sector witnessed a surge in stock prices, with Tata Consultancy Services (TCS), a major player in the industry, reaching a nine-month high. Additionally, Tech
According to sources familiar with the matter, Reliance’s JioMart has discontinued its JioMart Express quick grocery delivery service, which was introduced in March 2022. The Economic Times (ET) reported on
According to the Society of Indian Automobile Manufacturers (SIAM), the sales of domestic passenger vehicles (PVs) in January increased 17.23% compared to the same period last year, totaling 298,093 units.
The recently concluded UP Global Investors Summit saw a significant amount of investment proposals being directed towards renewable energy, electronics manufacturing and industrial parks. These sectors emerged as the top
The Finance Minister of India, Nirmala Sitharaman, has emphasized the need for the International Monetary Fund (IMF) to develop a globally synchronized strategy for the regulation of crypto assets. She
Zepto has initiated a new program and application aimed at enhancing the involvement of farmers who market their produce, including fruits and vegetables, on the Quick Commerce platform. During an
According to ANI, the Chinese company Alibaba Group has completed its exit from the Indian digital payments company Paytm. Alibaba held a 3.4% ownership in Paytm’s parent company, One97 Communications,
The Bengaluru-based financial technology company CRED has revealed a significant increase in losses for the fiscal year 2021-2022, amounting to INR 1,279 crore. This represents a 2.4 times increase from
The Union Minister, Jitendra Singh, announced on Thursday that India’s annual generation of nuclear power had reached 35,333 million units in the 2021-2022 fiscal year. This represents a significant increase
Meta, a company that provides monetization features for social media platforms, has announced plans to expand its “Gifts” feature, which focuses on monetizing Reels content on Instagram, to users across
AI market research platform provider, Entropik, has secured $25 million in Series B funding through a round led by Bessemer Venture Partners and SIG Venture Capital, with additional support from
The CEO and Whole-Time Director of Adani Ports and Special Economic Zone, Karan Adani, has stated that the company is aiming to achieve an EBITDA (Earnings Before Interest, Depreciation, Tax,
On Friday, Moody’s Investors Service, a global credit rating agency, stated that a part of Adani Group’s intended capital expenditures can be postponed. Additionally, Moody’s mentioned that the unfavorable events
Cognizant, a company listed on the NASDAQ stock exchange, announced its fourth-quarter financial results for the fiscal year 2022, revealing a net profit of $521 million, representing a 9.5% decrease
In the 2023 Budget, the government introduced a plan to support the growth of the economy through initiatives such as establishing Centers of Excellence for Artificial Intelligence. The goal is
According to a report by The Economic Times, Indian app developers hold the belief that the disentanglement of Google’s app ecosystem in India will present opportunities for them to establish
According to a recent report, Apple has made a remarkable achievement by becoming the second largest smartphone player in China for the first time in a whole year, despite a
Murugappa group’s subsidiary, Tube Investments of India (TII), has acquired all shares of Cellestial E-Mobility Pvt Ltd, a startup located in Hyderabad that specializes in creating and producing electric tractors,
Venture capital firms based in the United States that are investing in India are looking forward to the Union Budget 2023 to provide support for the expansion and progression of
Fast-moving consumer goods company, Jyothy Labs Ltd, has reported an impressive increase in their consolidated net profit for the third quarter ending December 31, 2022. The net profit jumped by
India’s central government’s market borrowings for 2023/24 may be lower than expected due to a potential non-rollover of securities used to compensate states for GST shortfalls, according to economists. However,
Blackstone is engaged in discussions to divest a substantial portion of its interest in India’s leading real estate investment trust, Embassy Office Parks, to Bain Capital, as per information from
The Indian government plans to issue its initial green bond, referred to as “greenium,” with yields lower than current market rates and has identified 400 billion rupees ($4.92 billion) worth
According to recent reports, Jeff Bezos, a billionaire American entrepreneur, is considering divesting from The Washington Post in order to acquire a professional American football team, specifically the Washington Commanders.
According to a report by The Economic Times, Apple has achieved a significant milestone by becoming the first company to export smartphones worth $1 billion in a single month from
Punjab & Sind Bank has updated its forecast for net interest margins for the fiscal year 2023, raising the estimate from 2.90% to a range of 2.95-3.0%. The change is
Rajeev Chandrasekhar, the Junior IT minister, has asked tech companies to give some of their profits to the online versions of print news publishers. The minister of state for electronics
India’s largest company by market value, Reliance Industries Ltd (RIL), reported a decrease of 13% in its consolidated profit for the third quarter due to poor performance in its oil-to-chemicals
On Thursday, the industry association CMAI announced that it has entered into an agreement with AREAS to share information and knowledge on policy and regulatory developments, advancements in the carbon
Despite a difficult global economic situation, investors in technology continue to invest significant amounts of money in Indian tech firms. A recent report from Dealroom and London & Partners found
India is a young country. The majority of the population belongs to the working age group between the ages of 18 and 60. According to the economic survey, his net
LG Electronics on the eve of Saturday have announced that their estimated fourth-quarter operating earnings will be 65.5 billion won ($51.6 million), down 91.2 percent from a year earlier. According
Microsoft Chairman and CEO Satya Nadella is upbeat about India’s future, particularly in the technology sector, given the country’s growing base of software developers, the rise of artificial intelligence (AI)
On the dawn of Monday Godrej Properties ltd have announced that they are entering into a joint venture with Neelkamal Realtors Towers Private limited(NRTPL) for the development of property in
June 9, 2023
June 9, 2023
June 8, 2023