Business

Bankim Brahmbhatt, the Indian-origin CEO of a US-based telecom company, is facing a lawsuit in the US filed by HPS, the private credit investment arm of BlackRock. It was just two years ago that Bankim Brahmbhatt, the Indian-origin CEO of a US-based telecom company, shot into the limelight after featuring in Capacity’s Power 100 List, which recognises…

The CBI has accused industrialist Anil Ambani of approving favours to Yes Bank founder Rana Kapoor’s family, causing huge financial losses to the bank. This development highlights alleged corruption and risky investments linked to Ambani’s companies. In a major development in the Yes Bank corruption case, the Central Bureau of Investigation (CBI) has accused industrialist Anil Ambani…

Bankim Brahmbhatt, owner of Broadband Telecom & Bridgevoice, is accused of siphoning off up to $500 million that he received as loan collateral. An India-origin CEO of a little-known telecom-services company in the US has emerged at the centre of what has been described as a “breathtaking” fraud in an opaque corner of the US debt markets.…

She wanted to be Mrs. Schmidt. Michelle Ritter had become used to driving around in tech billionaire Eric Schmidt’s Tesla, living in his Bel Air Mansion and conducting business meetings in a bikini – all while paying herself $1 million a year. But it wasn’t enough for the 31-year-old mistress. After five years of being with Silicon…

Union Finance Minister Nirmala Sitharaman’s flight to Bhutan made an emergency landing in Siliguri due to severe bad weather. She will stay overnight in Siliguri and continue her journey on Friday once conditions improve. Union Minister for Finance and Corporate Affairs Nirmala Sitharaman’s flight to Bhutan made an emergency landing on Thursday afternoon due to severe bad…

Microsoft said on Wednesday they are investigating an issue in which Microsoft 365 Cloud and Office.com were reported to be inaccessible. Source: https://www.channelnewsasia.com/business/microsoft-investigating-access-issues-m365-cloud-and-officecom-5434221

Singapore and Vietnam on Thursday (Oct 30) signed an agreement that will see Vietnam support the unimpeded export of a mutually agreed quantity of rice to Singapore on agreed terms when requested by the government. The memorandum of cooperation on rice trade was signed on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Week. In…

Microsoft also said that it has secured a deal with OpenAI where the ChatGPT maker will purchase $250 billion of Azure cloud computing services. Microsoft and OpenAI on Tuesday said they had reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion and clearing the way…

Amazon will lay off up to 30,000 corporate employees starting Tuesday, its biggest round of cuts since 2022, as the tech giant trims costs and corrects pandemic-era overhiring across divisions. Amazon is planning to cut as many as 30,000 corporate jobs beginning on Tuesday, as the company pares expenses and compensates for overhiring during the peak demand…

Ferrari (RACE.MI), is tapping into crypto markets and tech-rich youngsters with a planned new digital token that its wealthiest fans will be able to use in an auction for a Ferrari 499P, the endurance car that won three straight Le Mans titles. The plan for now is limited in scope and is an effort by the Italian…

U.S. President Donald Trump will test his deal-making capabilities on a trip to Asia, a region battered by his hardball trade policies, while doubts hang over his highly anticipated meeting with China’s Xi Jinping. Trump, who left Washington on Friday night, is set for a five-day trip to Malaysia, Japan and South Korea, his first to the…

The United States hit Russia’s major oil companies with sanctions on Wednesday and accused the Russians of a lack of commitment toward ending the war in Ukraine, as Moscow conducted a major training exercise involving nuclear arms. The new sanctions were unveiled one day after plans for a summit between U.S. President Donald Trump and Russian President…

There are ways to mitigate some of the risks of relying so much on cloud computing, says this University of Melbourne researcher. The world’s largest cloud computing platform, Amazon Web Services (AWS), experienced a major outage that has impacted thousands of organisations, including banks, financial software platforms such as Xero, and social media platforms such as Snapchat.…

During Diwali week, the Prime Minister was a de-light-ful winner of the national Fancy Dress Contest cosplaying as a brave soldier. You might have seen the reels by now and the blanket coverage. You might have also spotted a mugshot of the same gent looking straight into the camera for all the self-congratulatory colourful communication created for…

The AWS outage disrupted hundreds of websites and apps, including Venmo, Robinhood Markets Inc. and Apple Inc.’s Apple Music and Apple TV. Amazon.com announced on Monday afternoon that its cloud services had returned to normal after a widespread internet outage disrupted thousands of websites worldwide, including major platforms such as Snapchat and Reddit. However, the company said…

China isn’t just fighting back, it’s fighting smart. By borrowing America’s own trade war tactics, Beijing is turning Washington’s long-arm rules against it in a high-stakes economic showdown. China is fighting back in its escalating trade war with the United States, and it’s doing so by deploying the very same tactics Washington has used against it for…

New Delhi’s line is clear that it will not compromise on its strategic autonomy and will not be dictated to by anyone on whom it should be doing business with, particularly when it comes to Russia—an old and key strategic partner. Trump Russian oil policy, India stop buying Russian oil, US tariffs on Indian imports, Modi Trump…

Female jobless rate hits a 3-month high; youth unemployment climbs to 15% India’s unemployment rate edged up to 5.2% in September from 5.1% in August, with rural areas witnessing a sharper increase than urban centers, according to the latest Periodic Labour Force Survey (PLFS) data released by the Ministry of Statistics and Programme Implementation (MoSPI), said a…

Google announced on Tuesday that it will invest $15 billion in India over the next five years to establish its first artificial intelligence hub in the country. Located in the southern city of Visakhapatnam, the hub will be one of Google’s largest globally. It will feature gigawatt-scale data center operations, extensive energy infrastructure and an expanded fiber-optic…

The Enforcement Directorate has arrested Ashok Kumar Pal, CFO of Reliance Power Limited, in connection with a money laundering investigation involving fake bank guarantees. The Enforcement Directorate on Friday arrested a top official in Anil Ambani’s firm in a money laundering case. Ashok Kumar Pal, CFO and Executive Director in Reliance Power Limited, was arrested in a…

Wipro submitted that the company has used the trademark ‘WIPRO’ in relation to its consumer care and lighting products since at least 1977. The Delhi High Court has declared the trademark ‘WIPRO’ as a well-known mark within the meaning of Section 2(1)(zg) of the Trade Marks Act, 1999, formally recognising the brand’s enduring reputation, extensive commercial presence,…

Tata Trusts Boardroom Battle: Tata Trusts faces internal strife as Noel Tata and N Chandrasekaran meet Amit Shah and Nirmala Sitharaman over governance disputes. Tata Trusts Infighting: The rift within Tata Trusts, the principal shareholder of Tata Sons, has reached the corridors of power. Sources close to the Tata Group told CNBC-TV18 that the government cannot be…

The much-needed modernization of the U.S. Army’s battlefield communications network being undertaken by Anduril, Palantir (PLTR.O), and others is rife with “fundamental security” problems and vulnerabilities, and should be treated as a “very high risk,” according to a recent internal Army memo. The two Silicon Valley companies, led by allies of U.S. President Donald Trump, have gained…

Amazon (AMZN.O), opens new tab founder Jeff Bezos predicted on Friday gigawatt-scale data centres will be built in space within the next 10 to 20 years and that continuously available solar energy meant they would eventually outperform those based on Earth. Speaking at the Italian Tech Week in Turin, Bezos also compared the surge in artificial intelligence…

US lawmakers have requested explanations from Tata Consultancy Services regarding the company’s ongoing submission of numerous H-1B visa petitions despite laying off American tech workers. US senators are taking up the fight against the H-1B visa program, right up to the top management of major US corporations. Senate Judiciary Committee Chairman Chuck Grassley and Ranking Member Dick…

The Pulses Mission is expected to benefit around 2 crore farmers with the supply of better seeds, post-harvest infrastructure and 100 per cent assured procurement of tur, urad, and masoor pulses from growers at the Minimum Support Price during the next 4 years, according to an official statement. The Union Cabinet, chaired by Prime Minister Narendra Modi,…

China’s Pop Mart (9992.HK), is borrowing from Disney’s (DIS.N), playbook to turn toothy monster Labubu’s blockbuster sales into long-term success, Executive Director and co-COO Si De told Reuters in a rare interview. Pop Mart has already done what many thought impossible – making Labubu the first Chinese product to win a global audience for its emotional and…

Consumer confidence fell sharply in September on growing worries about the labor market. The consumer-confidence index dropped to 94.2 in September from a revised 97.8 in the prior month, the Conference Board said Tuesday. This is the lowest level since April. Economists polled by the Wall Street Journal had forecast the index to slip to 96.0 in…

They’re flying off the shelves and not in the good way. Amazon has pulled roughly 500 thousand units of various products from its virtual store in recent weeks after manufacturer recalls for safety concerns — including fans that cause fires and potentially suffocating baby crib attachments, according to a report. A variety of imported goods were part…

BharatGen, India’s first government-supported multimodal AI initiative, has secured Rs 988.6 crore from the IndiaAI Mission 2025, as revealed by Union IT Minister Ashwini Vaishnaw. BharatGen, India’s first government-backed multimodal sovereign AI initiative, has emerged as the single largest beneficiary of the government’s IndiaAI Mission 2025. The company has been awarded Rs 988.6 crore in funding by…

In a statement, Gujarat Cooperative Milk Marketing Federation (GCMMF) announced revision in price list of more than 700 product packs, offering full benefit of GST reduction to its customers, effective September 22, 2025. New Delhi: GCMMF, which markets dairy items under Amul brand, on Saturday announced reduction of retail prices of more than 700 product packs, including…

Adani Group companies gained over Rs 69,000 crore in market capitalisation in a single session on Friday, fueled by a buying frenzy following SEBI’s clean chit in the Hindenburg case. Adani Group companies gained over Rs 69,000 crore in market capitalisation in a single session on Friday, fueled by a buying frenzy following SEBI’s clean chit in…

U.S. Senator Ted Cruz, the Republican who leads oversight of the Federal Communications Commission, joined Democrats on Friday in criticizing FCC Chair Brendan Carr’s recent threats against Disney (DIS.N), opens new tab and local broadcasters for airing “Jimmy Kimmel Live.” The conservative senator from Texas, one of the most powerful Republicans in Congress, said Carr’s threat to…

A woman approached the police five days and had loged a complaint against Samir, a senior police official told Hindustan Times. Fugitive businessman and former IPL chief Lalit Modi’s brother Samir Modi has been arrested by the Delhi Police on rape charges. The arrest was made at the Indira Gandhi International Airport on Thursday evening. A woman…

Nvidia has spent over $900 million to hire Enfabrica CEO Rochan Sankar and other staff at the artificial intelligence hardware startup and to license the company’s technology, CNBC reported on Thursday. The AI chip giant is paying in cash and stock, CNBC said, citing two people familiar with the arrangement. The deal closed last week and Sankar…

Russia’s oil pipeline monopoly Transneft (TRNF_p.MM), has warned producers they may have to cut output following Ukraine’s drone attacks on critical export ports and refineries, three industry sources said on Tuesday. In a statement on its website, Transneft described the news as “fake” and part of the West’s “information war” against Russia. Kyiv has stepped up attacks…

The incursion of Russian drones in Poland has reignited safety concerns over the vulnerability of civil air transport in Europe, aviation and insurance experts said, the latest upheaval facing airlines from escalating global conflict. Early on Wednesday, Poland shot down drones in its airspace with the backing of military aircraft from its NATO allies, the first time…

Oracle shares surged about 43 percent to a record high on Wednesday, putting the company on track to join the elite trillion-dollar club and propelling co-founder Larry Ellison closer to the top of the world’s richest list. The company unveiled four multi-billion-dollar contracts on Tuesday, amid an industry-wide shift, led by companies such as OpenAI and xAI,…

People are turning to AI chatbots for anything from writing emails to planning holidays. But can they be trusted with our finances? A few months ago, a fellow journalist asked me: “Do you invest? Do you think you will be able to retire with a million dollars?” Thinking back on the mild heart-stopping fluctuations I’d seen in…

The market distribution for UPI transactions continues to be led by a few key applications. In terms of transaction volume, PhonePe was the market leader with an estimated 9.6 billion transactions, followed by Google Pay with 7.4 billion transactions and Paytm in third place with 1.6 billion transactions. The Unified Payments Interface (UPI) network processed over 20…

Poland shot down drones that entered its airspace during a widespread Russian attack in western Ukraine on Wednesday, with the NATO member calling the incursion “an act of aggression” Polish Prime Minister Donald Tusk said that he was in “constant contact” with NATO Secretary General Mark Rutte. Tusk has called for an emergency meeting of the council…

India and the European Union are intensifying talks to finalise their free trade agreement by year-end. The negotiations focus on resolving trade barriers while expanding strategic and defence ties amid global uncertainties. India and the European Union are accelerating efforts on an ambitious free trade agreement (FTA), scheduling two critical rounds of negotiations within the next month…

Addressing a news conference here, Haryana Chief Minister Saini said the wide-ranging reforms approved by the GST Council will prove to be a milestone towards “Atmanirbhar Bharat”. Saini said it is Prime Minister Narendra Modi’s commitment “that we have to empower and strengthen the poor, farmers and common sections”. Haryana Chief Minister Nayab Singh Saini on Saturday…

Noida Scam Alert: Police have seized four mobile phones, eight SIM cards, a laptop, a car, GST-related documents and a rent agreement from the accused. The police has arrested a former employee of a private firm in Noida for allegedly generating fake invoices of around Rs 10 crore to fraudulently claim input tax credit of Rs 1.8…

The visit, facilitated by the MHA, is seen as a significant step in ongoing legal proceedings in UK courts, senior officials confirmed. A delegation from the UK’s Crown Prosecution Service (CPS) recently visited Tihar Jail in Delhi to assess prison conditions, as part of efforts to strengthen India’s case for the extradition of , among others, high-profile…

Hundreds of federal agents descended on a sprawling site where Hyundai manufactures electric vehicles in Georgia and detained 475 people, most of them South Korean nationals. This is the latest in a long line of workplace raids conducted as part of the Trump administration’s mass deportation agenda. But the one on Thursday is especially distinct because of…

A disgraced former FBI official tipped off an employee of a Chinese group that did business with the Biden family about planned arrests related to a criminal investigation, compromising the integrity of the probe, according to a Justice Department watchdog. Charles McGonigal, who helmed the FBI’s counterintelligence division in New York from 2016 to 2018, was sentenced…

When asked what would be next on agenda for the finance ministry, Nirmala Sitharaman spoke about non-financial regulators. Union Finance Minister Nirmala Sitharaman reflected on the recently introduced reforms in the goods and services tax (GST) rates, and said it would fuel increased consumption, thus helping the economy. When asked what would be next on agenda for…

US President Donald Trump hosted top tech leaders at the White House, with AI and investments in focus. Five Indian-origin CEOs, including Nadella and Pichai, highlighted the diaspora’s growing influence in global technology. US President Donald Trump on Thursday hosted a high-profile dinner at the White House with America’s top technology leaders, with discussions centered on artificial…

A federal jury has ordered Google to pay $425.7 million for improperly snooping on people’s smartphones during a nearly decade-long period of intrusions. The verdict reached Wednesday in San Francisco federal court followed a more than two-week trial in a class-action case covering about 98 million smartphones operating in the United States between July 1, 2016, through…

Florida plans to end all state vaccine mandates, including for students to attend schools, the state’s surgeon general, Joseph Ladapo, announced on Wednesday, a move public health experts warned could trigger severe outbreaks among children, tourists and those with compromised immune systems. Ladapo, along with Florida Governor Ron DeSantis, cast the issue of vaccination as one of…

President Trump has criticized India for its high tariffs, labeling it the “most tariffed nation.” He claims India has proposed a “no tariff” deal but warns it may be too late. Trump defends his 50% tariff on Indian imports, asserting that it is necessary for fair trade. US President Donald Trump has once again lashed out at…

Microsoft (MSFT.O), forecast on Wednesday a record $30 billion in capital spending for the current fiscal first quarter, after booming sales in its Azure cloud computing business showcased the growing returns on its massive bets on artificial intelligence. Shares of the software company rose 9% in extended trading after it said Azure sales surpassed $75 billion on…

ChatGPT-maker OpenAI roughly doubled its revenue in the first seven months of the year, reaching $12 billion in annualized revenue, the Information reported on Wednesday citing a source. Reuters could not immediately confirm the report. OpenAI declined to comment. The figure implies that OpenAI is generating $1 billion a month, the report said, adding that the company…

The Income Tax department denied claims of increased long-term capital gains tax on LLPs in the new Income Tax Bill, 2025 The Income Tax department on Tuesday categorically refuted the claims of a possible increase in the long-term capital gains (LTCG) tax on Limited Liability Partnerships (LLPs) in the new Income Tax Bill, 2025. The Income Tax…

Tata Consultancy Services (TCS) has announced mass layoffs affecting approximately 12,000 employees, or 2% of its workforce, marking the largest reductions in the company’s history. The announcement of mass layoffs at Tata Consultancy Services (TCS) has prompted the Nascent Information Technology Employees Senate (NITES) to reach out to Labour Minister Mansukh Mandaviya. On Sunday, India’s largest IT…

TCS job cut: The move is part of a broader plan to adapt to changing technology trends and streamline operations as the company aims to become a “future-ready” organisation. Tata Consultancy Services (TCS), India’s largest software exporter, is planning to lay off around 12,000 employees, or about 2% of its global workforce, during the current financial year.…

Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business. Samsung shares rose more than 6 per cent after the news. “Samsung’s giant new Texas fab will be dedicated to making Tesla’s next-generation…

McDonald’s Corp is planning to sell eight prime retail properties in Hong Kong with a total market value of around HK$1.2 billion ($152.89 million), JLL, which has been appointed as the sole agent of the sale, said on Monday. The McDonald’s outlets in the locations will continue to operate, JLL executive director of capital markets Eunice Tang…

A bitter family feud has erupted in the RS 30,000 crore Sona Group after the sudden death of chairman Sunjay Kapur. His mother, Rani Kapur, alleges coercion and exclusion from key decisions, including the appointment of daughter-in-law Priya Sachdev Kapur. Following the death of Sunjay Kapur, the fight for control over the Sona Group – an empire…

In a sweeping move under the Trump administration’s directive to streamline federal agencies, NASA is set to lose nearly 3,870 employees through a voluntary resignation programme, raising concerns about talent drain and mission safety. In a significant reshaping of the United States space programme, NASA has confirmed that approximately 3,870 employees will resign from the agency as…

A higher ethanol blend should theoretically lower the price of petrol. It has instead, potentially increased the average cost of vehicle ownership. Here’s how. Having achieved its 20% ethanol blending targets five years prior to its deadline, it’s safe to say that biofuel is to play a key role in the central government’s plan to reduce crude…

An Antonov An-24 passenger plane carrying 48 people crashed in Russia’s far east on Thursday as it was preparing to land, killing everyone on board in an incident that spotlighted the continued use of old, Soviet-era aircraft. The burning fuselage of the plane, which was made in 1976, was spotted by a search helicopter after it disappeared…

Demand in China has begun surging for a business that, in theory, shouldn’t exist: the repair of advanced Nvidia (NVDA.O), artificial intelligence chipsets that the U.S. has banned the export of to its trade and tech rival. Around a dozen boutique companies now offer repair services, according to two such firms in the tech hub of Shenzhen…

In response to rising US-China tensions and intensifying data security laws, BlackRock, the world’s largest asset manager, has implemented strict new rules for employees traveling to China. The policy, effective 16 July, prohibits the use of company-issued devices and network access during both business and personal travel, signalling growing corporate unease over regulatory unpredictability in the world’s…

A federal court in Marshall, Texas, said on Wednesday that U.S. telecom company Verizon Wireless must pay $175 million in damages for violating an inventor’s patent rights related to wireless communications technology. The jury’s decision in favor of Headwater Research comes just months after the firm secured a $278 million verdict in a separate patent dispute against…

Tesla(TSLA.O), Chief Executive Elon Musk said on Wednesday that U.S. government cuts in support for electric vehicle makers could lead to a “few rough quarters” for the company before a wave of revenue from self-driving software and services begins late next year. Shares fell nearly 5% after Musk responded on a quarterly results conference call to questions…

Hundreds of thousands of doses of mpox vaccine that the United States had promised to send to African nations are in danger of going to waste, dozens of congressional Democrats said in a letter to the U.S. State Department on Wednesday. Forty-eight Democratic members of the House of Representatives, led by Representatives Mark Pocan of Wisconsin and…

CoinDCX in the FIR said that the full financial impact is being absorbed by the company’s treasury reserves, with no losses passed on to customers. Indian cryptocurrency exchange CoinDCX has reported a major security breach resulting in a loss of approximately ₹378 crore ($44.2 million). The incident, which took place on July 19 at 4 am IST,…

The India Cellular and Electronics Association (ICEA) has warned that unnotified trade restrictions imposed by China are disrupting supply chains and jeopardising India’s target of exporting $32 billion worth of smartphones in FY26. These measures, which impact capital goods, raw materials, and skilled personnel, could reverse India’s manufacturing gains and undermine its emerging role as a global…

IIT Kharagpur graduate Pavan Guntupalli faced seven failed startups and 75 investor rejections before launching Rapido, India’s first bike-taxi platform now worth Rs 9,350 crore. His journey from failure to leading a transport revolution is a lesson in resilience, vision and timing. When Pavan Guntupalli launched Rapido in 2015, few believed bike taxis could survive India’s crowded…

Jio BlackRock, a high-profile joint venture between Jio Financial Services and global investment giant BlackRock, has made a ₹17,800 crore debut with three debt mutual fund schemes. But beyond the big numbers, it signals a strategic push to revolutionise Indian retail investing using tech, trust, and telecom. Earlier this month, Jio BlackRock Asset Management, the 50:50 joint…

Dolly Chaiwala, the viral tea-staller, has announced the launch of his business venture, receiving a plethora of applications to purchase the franchise. Sunil Patil, also known as Dolly Chaiwala on the internet, has announced the launch of his business franchise Dolly Ki Tapri through an expensive franchise model across India. A Nagpur-based tea seller, Patil gained viral…

The announcement comes as tech giants such as Meta aggressively chase high-profile acquisitions and offer multi-million-dollar pay packages to attract top talent in the race to lead the next wave of artificial intelligence. Mark Zuckerberg said on Monday that Meta Platforms would spend hundreds of billions of dollars on computing power to build superintelligence, intensifying his pursuit…

The social media firm has slashed premium account subscription fee for mobile app by about 48 per cent to Rs 470 from Rs 900 it charged earlier on a monthly basis. Social media platform X has slashed subscription fees for account holders in India by up to 48 per cent, according to updates on its portal. The…

Tesla is set to open its first Indian showroom in Mumbai’s Bandra Kurla Complex on July 15. The Tesla India X account shared a “coming soon” post on Friday night. Tesla has signalled its imminent entry into the Indian market with a “coming soon” teaser on its newly created X (formerly Twitter) account, giving a long-awaited update…

Tesla will expand its robotaxi service to the San Francisco Bay Area “in a month or two”, depending on regulatory approvals, CEO Elon Musk said on Wednesday. Tesla last month rolled out a test of the long-promised service in a limited area of Austin, Texas, with about a dozen vehicles, a select group of passengers and many…

Complaints were lodged after Grok posted antisemitic content, including praise for Adolf Hitler. Elon Musk’s xAI removed “inappropriate” posts. Tech billionaire Elon Musk’s AI chatbot Grok is at the center of scandal after posting antisemitic remarks. Developer xAI announced on Wednesday that it was in the process of removing “inappropriate posts” by Grok on the online platform…

As Bitcoin’s market cap has crossed into the trillions, more institutional investors are entering the space. Large firms that once stayed away are now taking positions in digital assets, helping push prices higher. Bitcoin reached a fresh all-time high on Wednesday, climbing close to the $112,000 mark as demand from institutional investors and a broader appetite for…

Brazilian President Luiz Inacio Lula da Silva says that his nation would act with reciprocity. United States President Donald Trump launched his global tariff assault into overdrive on Wednesday (Jul 9), announcing a new 50 per cent tariff on US copper imports and a 50 per cent duty on goods from Brazil, both to start on Aug…

However, the government hit back at X and accused it of twisting facts and delaying unblocking the accounts of Reuters. New Delhi: Elon Musk-owned social media platform X on Tuesday expressed deep concern about “ongoing press censorship” in India, days after global news agency Reuters’ account was ‘withheld’ in the country after an order by the Narendra…

During a meeting with Anton Siluanov, Finance Minister of Russia, Sitharaman expressed gratitude for the support extended by President Vladimir Putin after the Pahalgam terror attack, the finance ministry said in a post on X. Finance Minister Nirmala Sitharaman held a series of bilateral meetings, including with Russian and Chinese counterparts, and discussed issues of bilateral cooperation…

After a 25-year presence, Microsoft has reportedly shut down its operations in Pakistan, leaving only a small liaison office. Founding country manager Jawwad Rehman called the move “more than a corporate exit,” reflecting on the deteriorating business climate that even global tech giants find unsustainable. Global software giant Microsoft has formally exited Pakistan, ending a 25-year presence…

The gain in forex reserves during week ended June 27 was led by an increase in foreign currency assets, which surge by $5.75 billion to $594.82 billion. India’s Latest Forex Reserves: India’s foreign exchange reserves rose sharply by $4.84 billion to $702.78 billion in the week ended June 27, bringing them within striking distance of the all-time-high…

Nvidia was on track to become the most valuable company in history on Thursday (Jul 2), with the chipmaker’s market capitalisation reaching US$3.92 trillion as Wall Street doubled down on optimism about artificial intelligence. Shares of the leading designer of high-end AI chips were up 2.2 per cent at US$160.60 in morning trading, giving the company a…

In terms of extant guidelines, banks and NBFCs are not permitted to levy foreclosure charges/pre-payment penalties on any floating rate term-loan sanctioned to individual borrowers with or without co-obligant(s) for purposes other than business. The RBI on Wednesday directed banks and other lenders not to levy any pre-payment charges on all floating-rate loans and advances, including for…

Meta (META.O), CEO Mark Zuckerberg has reorganized the company’s artificial intelligence efforts under a new division called Meta Superintelligence Labs, according to a source on Monday. The division will be headed by Alexandr Wang, former CEO of data labeling startup Scale AI. He will be the chief AI officer of the new initiative at the social media…

Hong Kong builder New World Development said on Monday (Jun 30) it had received commitments for a HK$88.2 billion (US$11.24 billion) loan refinancing, as the builder finalises a crucial lifeline in a distressed property market. New World’s refinancing, poised to be one of the largest ever seen in Hong Kong, concludes months of negotiations over a debt…

Oil prices edged down on Tuesday, weighed by expectations of an OPEC+ output hike in August and concerns of an economic slowdown driven by prospects of higher U.S. tariffs. Brent crude futures for September delivery fell 16 cents, or 0.24 per cent, to $66.58 a barrel by 0000 GMT. U.S. West Texas Intermediate crude declined 20 cents,…

Nvidia’s (NVDA.O),  stock hit a record high on Wednesday, and the chipmaker reclaimed the crown as the world’s most valuable company after an analyst said the chipmaker was set to ride a “Golden Wave” of artificial intelligence. Shares of the Santa Clara, California-based company rose over 4% to a record high of $154.10. The rise sent Nvidia’s…

At least 11 people were killed, including a teenager, and more wounded in a Tuesday night shooting in the central Mexican city of Irapuato, authorities said on Wednesday. The attorney general’s office in Guanajuato, the violence-plagued state where Irapuato is located, said that 20 others were hospitalized with gunshot wounds. Mexican President Claudia Sheinbaum said earlier on…

Global environmental lobby Greenpeace added its voice on Monday to protests against this week’s celebrity wedding in Venice between American tech billionaire Jeff Bezos and journalist Laura Sanchez. The event, expected to attract some 200 guests including U.S. President Donald Trump’s daughter Ivanka and son-in-law Jared Kushner, as well as scores of stars from film, fashion and…

The proposal will burn India’s foreign reserves, decrease foreign exchange inflow, and disrupt non-residents’ existing financial strategies. On May 22, 2025, the US House of Representatives passed the controversial ‘The One, Big, Beautiful Bill’. The Bill includes a significant provision levying an excise tax on every single dollar of remittance or international money transfer made by non-US…

The crash must prompt fundamental reforms—beginning with the regulator and extending to airline management—as the aviation ecosystem is structurally compromised. The Indian aviation industry is facing its biggest crisis in decades as it grapples with the devastating crash of Air India’s Boeing 787-8 Dreamliner at Ahmedabad on June 12, 2025. The London-bound AI171 went down just 36…

Tesla (TSLA.O), deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas, with CEO Elon Musk announcing the “robotaxi launch” and social-media influencers posting videos of their first rides. The event marked the first time Tesla cars without human drivers have carried paying riders, a business that Musk sees as crucial…

Around 10,000 Russian soldiers are fighting in Russia’s Kursk region, about 90 square kilometers (35 square miles) of which is controlled by Ukraine, Ukraine’s top military commander said. “We control about 90 square kilometers of territory in the Hlushkov district of the Kursk region of the Russian Federation, and these are our preemptive actions in response to…