Business
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$1.6 bn worth Ethereum lost forever since its ‘presale’
New Delhi: The owners of Ethereum, the second largest cryptocurrency by market cap, have lost their crypto wallets containing 532,426 Ethereum with a current market value of $1.6 billion since its “presale”…
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Musk prefers to visit Indonesia as top Indian ministers fail to impress him
New Delhi: Tesla and SpaceX CEO Elon Musk has decided to visit Indonesia in November this year, as he reportedly wraps up Tesla operations in India amid continuous requests from top ministers…
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Xiaomi India paid Rs 4,663 cr to Qualcomm as royalty remittance
New Delhi: After the Enforcement Directorate (ED) seized nearly Rs 5,551.3 crore from Xiaomi India under Foreign Exchange Management Act (FEMA) for illegal remittances to foreign entities, reliable sources said on Monday…
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Indian IPO market experienced significant slowdown
New Delhi: After record-high levels of IPO activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022. In Q1 2022, the Indian market introduced…
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Capgemini acquires Chappuis Halder to boost financial services business
New Delhi: Technology services major Capgemini on Monday said it has acquired Chappuis Halder & Cie (Chappuis Halder), a global strategy and management consulting firm, for an undisclosed sum. Headquartered in Luxembourg…
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India tablet market set to grow up to 12% this year
New Delhi: Driven by resurgent demand, the India tablet market grew 68 per cent year-on-year (YoY), while 4G tablets recorded a sequential growth of 74 per cent YoY in the first quarter…
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Adani to acquire Holcim India assets for USD 10.5 bn
New Delhi: Asia’s richest man Gautam Adani’s group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd’s businesses in India for USD 10.5 billion, marking…
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Tesla stops taking Cybertruck orders in China, Europe
San Francisco: Electric car maker Tesla has reportedly stopped taking C0ybertruck orders on its websites in China and Europe. The Tesla website now only allows visitors to sign up for Cybertruck updates…
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Maruti Suzuki lines up Rs 5,000 cr capex for current fiscal
New Delhi: Maruti Suzuki India (MSI) has lined up Rs 5,000 crore capex for various initiatives, including new product launches, for the current financial year, according to a senior company official. The…
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Cryptos can lead to dollarisation of economy: RBI officials to par panel
New Delhi: Cryptocurrencies can lead to “dollarisation” of a part of the economy which would be against India’s sovereign interest, top officials of the RBI have told a parliamentary panel, according to…
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UAE telecom operator Etisalat acquires 9.8% stake in Vodafone for $4.4bn
Dubai: Etisalat, the UAE’s biggest telecom operator, has acquired a 9.8 per cent stake in British mobile carrier Vodafone Group for $4.4 billion as it seeks to diversify operations globally. Emirates Telecommunication…
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Consumer inflation at 8-year high may ‘trigger’ quicker rate hikes
New Delhi: Sounding a red alert on India’s CPI inflation at an 8-year high print of 7.79% YoY in April, Acuite Ratings has said it may trigger quicker rate hikes. “If inflation…
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Centre bans wheat export
New Delhi: The Central government has placed a ban on wheat export with immediate effect in the wake of the grave situation of less than estimated domestic wheat production and an excessive…
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Saudi oil giant Aramco’s profits rise 80% in Q1 2022
Dubai: Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy…
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Cryptocurrencies: why they’ve crashed and what it could mean for their future
London: If you had invested 100 (US 122) in the cryptocurrency Luna a month ago, you might have been quietly confident you’d made a sensible bet. But Luna’s value has since fallen…
