Trade deficit shoots up 62% Year-on-year to $25.6 billion in June
India's merchandise trade deficit rose to $25.6 billion in June 2022, 62 percent higher than June 2021 as a continuing global commodity supercycle kept the prices of key energy and…
Rupee hits record low of 79.04 against US dollar
The rupee hit a record low against the US dollar in early trade on Tuesday amid concerns of a widening trade deficit and a sell off of assets by foreign…
Tata Steel arm acquires NINL for ₹12,100 crore
Tata Steel on Monday said that it has completed the acquisition of 93.71 per cent in Neelachal Ispat Nigam Limited (NINL) through its listed step-down subsidiary, Tata Steel Long Products (TSLP). On January 31,…
US court reduces penalty charges on TCS to $140 million
A top US court has halved the penalty to be paid by TCS in its ongoing case with Epic Systems, which reflects IP protection measures taken by the software exporter.…
LIC fixes record date for its dividend payment
While unveiling its first earnings post listing, India's biggest insurer and largest domestic financial investor Life Insurance Corporation of India also announced a dividend of ₹1.50 per share with a…
Sri Lanka aims to stop money printing as inflation nears 60%
Sri Lanka, which has run out of dollars to purchase fuel and is printing rupees to pay local salaries, aims to stop injecting local currency to quash Asia’s fastest inflation.…
Unacademy CEO Gaurav Munjal says funding winter can last up to 18 months
As edtech platforms start bleeding in India, Unacademy, which recently laid off over 600 employees, has predicted a funding winter that can last as long as 18 months, saying it…
Grasim industries to raise up to Rs 2,000 crore via debentures
Grasim Industries Tuesday said it will seek shareholders' nod to raise up to Rs 2,000 crore through private placement basis. The Aditya Birla Group firm will present the proposal to…
MUFG Bank to set up a branch in GIFT City, sixth in India
Japanese lender MUFG Bank will establish a branch at the Gujarat International Financial Tec City (GIFT City) in Ahmedabad for foreign currency-denominated lending business. This will be its sixth branch…
RBI issued guidelines on gold import by jewellers
Reserve Bank of India (RBI) on Wednesday (May 25) came up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange…
