Business
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Samsung to invest $355 bn in chip, bio industries for next 5 years
Seoul: Samsung Electronics said on Tuesday it will invest 450 trillion won ($355 billion) in semiconductor and biopharmaceuticals for the next five years, as South Korea’s largest company seeks to further expand…
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IT spending strong in 2022 by BFS; eye productivity, efficiency
New Delhi: Intensity of spending in information technology (IT) by BFS (Banking and Financial Services) firms continues to be strong going into 2022, following a good year in 2021, said brokerage house…
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Indices settle low, weighed down by metal, IT, FMCG, media stocks
New Delhi: Indian equity benchmark indices traded in a narrow range on Tuesday and settled marginally in the red. The Sensex closed at 54,052.61 points, down 236 points, or 0.43 per cent,…
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New India Assurance net profit sees sharp fall
Chennai; Government-owned and listed insurer, the New India Assurance Company Ltd closed FY22 with a net profit of Rs 164.27 crore, down from Rs 1,604.69 crore logged during FY21. The company’s solvency…
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Hyderabad: Olectra bags 2,100 electric-buses order from BEST
Hyderabad: Olectra Greentech Limited has bagged a Rupees 3,675 crore order of 2,100 electric buses from the Brihanmumbai Electric Supply and Transport (BEST). This is claimed to be the biggest order in…
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EV ride-hailing platform BluSmart raises $25 mn, to add 5K electric cars
New Delhi: Electric ride-hailing service BluSmart on Tuesday announced it has raised $25 million as part of its extended Series A1 round. In total, the startup has raised $50.7 million as part…
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‘Coin’ in Bitcoin name doesn’t make it money: IMF chief
Davos: IMF chief Kristalina Georgieva on Monday cautioned against confusing crypto products with currencies and said anything not backed by a sovereign guarantee can be an asset class but not a currency,…
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Zomato’s consolidated loss triples to Rs 360 cr as expenses mount
New Delhi: Online food delivery platform Zomato on Monday reported net loss of Rs 360 crore during the first quarter (Q1) this year — nearly triple from Rs 134.2 crore net loss…
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Modi participates in event to launch Indo-Pacific Economic Framework for Prosperity
New Delhi: Visiting Prime Minister Narendra Modi on Monday participated in an event in Tokyo to launch the Indo-Pacific Economic Framework for Prosperity (IPEF). The event was also attended by US President Joe…
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Battery industry sales to cross $168 bn by 2030 amid raw material shortage
New Delhi: The battery industry revenues may exceed $168 billion by 2030 but severe global shortages are highly likely from 2025, a new report said on Monday. The battery industry is set…
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Healthtech platform mFine lays off over 50% of its workforce
New Delhi: After Healthtech platform mFine laid off over 50 per cent of its total workforce (more than 500 employees), Prime Venture Partners which is one of its existing investors said on…
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Multi-access edge computing spend to reach $23 bn globally by 2027
New Delhi: The global spending on multi-access edge computing (MEC) is likely to reach $22.7 billion by 2027, from $8.8 billion this year, a new report said on Monday. According to Juniper…
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Tesla FSD beta update brings new visuals, impresses testers
San Francisco: Electric vehicle company Tesla has released Full Self-Driving (FSD) 10.12.1 beta to its Early Access Programme that includes new visuals for open car doors and also displays turn signals on…
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North America’s smartphone shipments reach 39 mn units in Q1
Bengaluru: North American smartphone shipments reached 39 million units in Q1 2022, up 3.7 per cent year on year, according to a new report. Apple grew 19 per cent to achieve a…