Business
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Small-cap indices witness sharp correction from the highs of Oct’21
New Delhi: Small-cap indices have corrected sharply from the highs of October 2021. While the Nifty-50 declined 15 percent from its October 2021 peak against a 20 percent decline in midcaps and…
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Bangladesh’s exports hit all-time high of over $52 bn in FY 2021-22
Dhaka: Bangladesh saw exports soar more than 34 per cent to $52.08 billion in the 2021-22 fiscal year (July 2021-June 2022), official data showed. According to data released on Sunday by the…
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Crypto lending platform Celsius lays off 150 employees
New Delhi: Cryptocurrency lending platform Celsius has laid off 150 employees which is a quarter of its workforce, as the global crypto market goes through its worst meltdown. The platform last month…
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Tesla delivers over 250K EVs globally in Q2
San Francisco: Despite several supply chain challenges and factory shutdowns, Elon Musk-owned electric vehicle company Tesla has delivered 2,54,695 EVs globally in the second quarter of 2022. The company also said that…
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Large borrowers’ loan accounts and bad loans decline: RBI
Chennai: The share of large borrowers for scheduled commercial banks (SCB) has declined in the recent times while their share in the gross non-performing assets (GNPA) also went down, said the Reserve…
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Ola Electric slips to 4th spot as EV registrations fall amid fire fears
New Delhi: As customers delay purchasing electric two-wheelers amid fire incidents, Ola Electric again saw its registration dipping in the month of June, taking the company to fourth place in the overall…
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Reddit buys natural language processing company MeaningCloud
Barcelona: Popular online discussion forum Reddit has announced that it is acquiring MeaningCloud, a natural language processing (NLP) company specialising in extracting meaning from unstructured content. Reddit said that the technology will…
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Hyundai’s sales fall 4.5% globally amid chip shortage
Seoul: Hyundai Motor, South Korea’s biggest carmaker, said on Friday that its sales fell 4.5 per cent in June from a year earlier, as a global chip shortage continued to affect its…
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Google to pay $90 mn to developers to settle Play Store lawsuit
San Francisco: Google has reached a settlement over a lawsuit with a group of developers, where it will establish a $90 million fund to support developers in the US who earned $2…
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1% TDS on crypto investments in India, industry players say ‘wait and watch’
New Delhi: As the Reserve Bank of India (RBI) further tightens its stand on cryptocurrencies, the 1 per cent tax deducted at source (TDS) on virtual digital assets (VDAs) and cryptocurrencies came…
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Telecom gear firm Parallel Wireless lays off 500, including in India
New Delhi: Telecom gear provider Parallel Wireless has laid off at least 500 employees in India, Israel, the UK and the US. Parallel Wireless is one of the leading vendors in the…
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Hyundai to create new US affiliate after $10.5 bn investment pledge
Seoul: Hyundai Motor Group said on Thursday it is setting up a new investment affiliate in the US, in a follow-up to its pledge to invest $10.5 billion in the world’s largest…
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Cryptocurrencies are clear danger to financial systems: RBI Governor
New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that cryptocurrencies are a clear danger to the financial systems, adding that we must be mindful of the emerging…
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Over 60K startup employees stare at job loss as India prepares for 200 unicorns
New Delhi: As startups in India keep firing their staff to navigate through the ‘funding winter’ and more than 60,000 can lose their jobs in 2022 alone, the country is preparing to…
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Why this CEO of $68 bn company wants to ‘sit at the beach and do nothing’
San Francisco: In a stunning move depicting the emptiness that loads of money can bring in your life, Andrew Formica who is CEO of London-based fund house Jupiter Fund Management has just…
