BUSINESS

Early cues from GIFT Nifty and US indices suggest a positive start for frontline Indian indices today. At 8:45 am, GIFT Nifty is trading higher by 0.54 per cent at 22,741.00, indicating a gap-up opening. In a significant development, the US Federal Reserve decided to keep interest rates unchanged within the 5.25 per cent-5.50 per cent range during its May …

Vistara finds itself amidst a significant upheaval as over 100 flights have been cancelled and numerous others delayed in the past two days, throwing passengers’ travel plans into disarray. The airline, which operates approximately 300 flights daily, experienced a sudden surge in disruptions on Monday, with nearly 80 flights cancelled and over 190 delayed across its network. Tuesday witnessed a …

Jindal Stainless unveiled its strategic agenda on Wednesday, outlining plans for a complete divestment of its 26% stake in Jindal Coke by September this year, alongside its acquisition of a majority stake in the Spanish entity, Iberjindal. In the first phase of divestment, the company offloaded 4.87% shares in Jindal Coke for over ₹36.49 crore to JSL Overseas, a move …

A devastating earthquake rattled Taiwan’s eastern coast early Wednesday morning, leaving a trail of destruction and prompting widespread panic across the region. The seismic event, with conflicting reports on its magnitude, has claimed lives, injured hundreds, and raised fears of a tsunami hitting coastal areas. According to the United States Geological Survey (USGS), the earthquake registered a magnitude of 7.4, …

The Chatterjee Group (TCG) is in advanced discussions with both local and global entities to forge partnerships for a significant venture alongside its majority-owned petrochemical firm, Haldia Petrochemicals Ltd (HPL), aiming to establish a project exceeding $10 billion in southern India. This ambitious initiative, as disclosed by HPL’s Chief Executive, Navanit Narayan, aims to materialize into a robust oil-to-chemical complex …

Pavan Davuluri, an esteemed alumnus of IIT Madras, has been named as the new head of Microsoft Windows and Surface, marking another significant milestone for an Indian professional in a leadership position at a major tech corporation, akin to Sundar Pichai of Google and Satya Nadella of Microsoft. Mr. Davuluri assumes the role previously held by Panos Panay, who departed …

In a testament to India’s economic prowess, Mumbai has outstripped Beijing to claim its position as Asia’s billionaire capital, according to the latest Hurun Global Rich List 2024. The report reveals a staggering surge in India’s billionaire count, with the country adding almost 100 new billionaires over the past year, significantly overshadowing China’s growth in this elite segment. The Hurun …

In February, British inflation experienced a notable cooling, surpassing both economists’ and the Bank of England’s expectations. This data, released on Wednesday, suggests a potential scenario where the central bank could consider interest rate cuts in the upcoming months. According to the Office for National Statistics, consumer prices saw a modest increase of 3.4% in annual terms in February. This …

In response to widespread criticism, Zomato has reversed its decision to introduce a ‘pure veg’ fleet, announcing that all its delivery partners will continue to wear red uniforms, regardless of the type of food they are delivering. CEO Deepinder Goyal took to Twitter to announce the decision, stating, “While we are going to continue to have a fleet for vegetarians, …

Amid allegations of bribery involving an Adani Group entity, global brokerage firm JP Morgan has reiterated its confidence in the conglomerate, stating that the scope for corruption in India’s renewable energy sector appears “highly unlikely.” The controversy emerged after reports surfaced alleging that the Adani Group had engaged in bribery to secure energy projects. However, JP Morgan has maintained its …