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India’s Sensex Crashes 509 Points Over Global Trade War Fears

India’s Sensex Crashes 509 Points Over Global Trade War Fears

MUMBAI – Market benchmark BSE Sensex Tuesday crashed 509 points to close at more than one-month low of 37,413.13 due to heavy selling in FMCG, metal, auto and financial stocks amid growing concerns over intensifying global trade war.   The 30-share index tanked more than 1 per cent for the second day in a row […]

September 15th, 2018 | Posted in Business | Read More »

India Will Have To Pay Rs 68,500 Crore Extra To Repay Debt Due To Weak Rupee

India Will Have To Pay Rs 68,500 Crore Extra To Repay Debt Due To Weak Rupee

India’s short-term debt obligations, which included non-resident deposits as well as overseas commercial borrowings by companies, totaled $217.6 billion in 2017. NEW DELHI – The rupee fell past 72 per dollar to a record low on Thursday, amid a deepening emerging market contagion and the risk of a wider current-account deficit(REUTERS File Photo) Oil isn’t […]

September 15th, 2018 | Posted in Business | Read More »

Alibaba Chairman Jack Ma Says He’ll Retire At 54

Alibaba Chairman Jack Ma Says He’ll Retire At 54

The New York Times ran an article on Friday, based on an interview with Jack Ma, saying the former teacher-turned-billionaire planned to use his birthday to announce his retirement as chairman of Alibaba to focus on philanthropy. BEIJING – Alibaba co-founder and chairman Jack Ma will unveil a succession plan on Monday, the South China […]

September 15th, 2018 | Posted in Business | Read More »

Wipro Wins $1.5 Billion Contract With Alight Solutions

Wipro Wins $1.5 Billion Contract With Alight Solutions

In July, the Bengaluru-based firm had said it would buy Alight Solutions’ India operations for $117 million in cash. NEW DELHI –  – Indian software services exporter Wipro Ltd won its biggest-ever contract worth more than $1.5 billion with US-based Alight Solutions LLC for digital services, the company said in a statement on Sunday.   […]

September 8th, 2018 | Posted in Business | Read More »

Indian Airlines Losses Could Hit $1.9 Billion This Year: CAPA India

Indian Airlines Losses Could Hit $1.9 Billion This Year: CAPA India

The loss forecast for the 12 months ending March 31 is up from an estimated $430 million to $460 million sector-wide loss in January largely due to the depreciation of the rupee and a rise in oil prices, CAPA said. NEW DELHI – Indian airlines are expected to post combined losses of up to $1.9 […]

September 8th, 2018 | Posted in Business | Read More »

Amazon Joins Apple In Climb To $1 Trillion Market Value

Amazon Joins Apple In Climb To $1 Trillion Market Value

Amazon has become the second publicly traded US company to reach $1 trillion in market value. NEW YORK – Amazon.com Inc. shares rose as much as 1.9%, pushing the company briefly beyond a market value of $1 trillion, a milestone Apple Inc. reached last month. It’s a historic accomplishment for Chief Executive Officer Jeff Bezos, […]

September 8th, 2018 | Posted in Business | Read More »

Indra Nooyi To Be Honoured With Asia Society’s Game Changer Of The Year 2018 Award

Indra Nooyi To Be Honoured With Asia Society’s Game Changer Of The Year 2018 Award

The 2018 Asia Game Changer Awards will be given in October to individuals and institutions who have broken barriers, defined courage, worked miracles, and in turn inspired their fellow citizens of the world. NEW YORK – PepsiCo’s India-born CEO Indra Nooyi will be honoured with the Game Changer of the Year award by a global […]

September 1st, 2018 | Posted in Business | Read More »

World Bank To Issue World’s First Blockchain Bond

World Bank To Issue World’s First Blockchain Bond

The technology is most often associated with cryptocurrencies — like bitcoin — which often raise suspicion about their reliability and volatility, as well as their use for criminal purposes. WASHINGTON – The World Bank is taking a step into the brave new world of digital finance to sell the first-ever bond to be issued entirely […]

August 18th, 2018 | Posted in Business | Read More »

India’s July Trade Deficit Widens To More Than Five Year High Of $18.02 Billion

India’s July Trade Deficit Widens To More Than Five Year High Of $18.02 Billion

  Though merchandise exports rose 14.32 percent year-on-year in July, the trade deficit widened as oil imports surged 57.41 percent to $12.35 billion. NEW DELHI – India’s trade deficit widened to a more than five year high of $18.02 billion in July, the trade ministry said on Tuesday, driven largely by a surge in oil […]

August 18th, 2018 | Posted in Business | Read More »

Amazon Invests $400 Million More In Its Indian Subsidiaries: Report

Amazon Invests $400 Million More In Its Indian Subsidiaries: Report

Amazon chief executive Jeff Bezos had earlier committed to invest a whopping $5 billion in India to cash in on the rapid growth in e-commerce business NEW DELHI – The US-based world’s largest e-tailer Amazon invested an additional $400 million (Rs 2,700 crore) in two of its Indian subsidiaries, said business intelligence platform Paper.vc on […]

August 18th, 2018 | Posted in Business | Read More »