Business
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Alibaba lays off nearly 10K employees amid poor sales
Beijing: Chinese tech conglomerate Alibaba has bid goodbye to nearly 10,000 employees in an effort to cut expenses amid sluggish sales and slowing economy in the country, the media reported on Saturday.…
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Nikon, Panasonic suspend low-end compact digital camera production
Tokyo: Japanese camera players Nikon and Panasonic have suspended the production of low-end compact digital cameras and will now focus on costlier mirrorless cameras going forward, the media reported on Saturday, as…
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Intel Meteor Lake chip delayed to 2024, TSMC slows 3nm expansion: Report
New Delhi: The mass production of chip-maker Intels next big flagship processor Meteor Lake is expected to be delayed until 2024, a report has said. According to TrendForce research, Intel plans to…
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Saudi Arabia: Oil raises budget surplus by 21 billion dollars in 3 months
Riyadh: The Kingdom of Saudi Arabia (KSA) recorded a budget surplus during the second quarter of 2022, amounting to 77.909 billion riyals ($20,734 billion) due to the rise in crude oil prices.…
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AP seeks to attract USD 4 billion investment in EV segment
Amaravati: Andhra Pradesh is seeking to position itself as the ‘lighthouse state’ and attract investments to the tune of USD 4 billion in the electric vehicles segment over the next few years.…
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Loan EMIs to rise as RBI increases repo rate by 50 bps
Mumbai: The EMIs on the loan will rise as the Reserve Bank of India (RBI) on Friday hiked the repo rate by 50 basis points to 5.40 percent to contain inflation. Several…
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Twitter expands ‘Location Spotlight’ tool to all businesses globally
New Delhi: Twitter has made a new feature available for all businesses globally to display their location address, hours of operation and additional contact details on their profiles on the platform. Earlier,…
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Rupee gains 46 paise to 78.94 against US dollar ahead of RBI policy outcome
Mumbai: The rupee appreciated 46 paise to 78.94 against the US dollar in early trade on Friday ahead of the Reserve Bank of India’s policy meeting outcome. At the interbank foreign exchange,…
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RBI retains FY23 inflation projection at 6.7 pc
Mumbai: The RBI on Friday retained its retail inflation forecast for current fiscal year at 6.7 per cent amid geopolitical developments and higher global commodity prices, hoping inflationary pressures to ease further.…
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Tesla to build 10-12 gigafactories in years to come: Musk
San Francisco: Tech billionaire Elon Musk has hinted that Tesla would probably build “at least 10 or 12 gigafactories” in years to come, teasing another gigafactory location to be chosen later this…
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JB Pharma records revenue growth of 30% to Rs 785 cr in Q1FY23
Mumbai: JB Pharma, one of the fastest growing pharmaceutical companies in India, announced its financial results for the first quarter ended on June 30, 2022. For the first quarter, the company recorded…
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Walmart lays off 200 corporate employees amid rising inflation
San Francisco: Retail giant Walmart has laid off at least 200 corporate employees as the economic downturn takes its toll on companies worldwide. Walmart described the layoffs as a way to “better…
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Odisha govt approves 11 investment proposals of Rs 2,253cr
Bhubaneswar: The Odisha government has approved 11 investment proposals worth Rs 2,253.15 crore which will create employment opportunities for 3,817 people, officials said on Thursday. The state level single window clearance authority…
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Sensex snaps 6-day rally ahead of RBI’s rate decision; bank stocks slide
Mumbai: The Sensex and Nifty snapped their six-session rally to close marginally lower on Thursday as investors booked profit in banking, finance and energy counters ahead of the RBI’s policy decision. The…