Business
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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…
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China’s online car-hailing orders fall in April
Beijing: Orders from China’s online car-hailing companies dropped in April, as the resurgence of COVID-19 cases influenced the companies’ operations and people’s willingness to travel, data from the Ministry of Transport showed.…
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Swiggy enters high-end dining market with $200 mn acquisition of Dineout
Online food delivery platform Swiggy on Friday announced it has acquired Dineout, a dining out and restaurant tech platform, for an undisclosed sum. Reliable sources told IANS that the acquisition size could…
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India’s exports rise by 30.7 per cent to $40.19 billion in April
India’s merchandise exports rose by 30.7 per cent year-on-year to $40.19 billion in April 2022 as compared to $30.75 billion in the corresponding month of the last year, led by strong growth…
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Twitter, Tesla, Musk incur major losses; Tycoon poorer by $39 Bn
New York: Elon Musk, still the world’s richest man, is poorer by nearly $39 billion since he spoke of buying out Twitter. Irony. At $231 billion of worth on the Forbes Real Time…
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Samsung likely to raise chip prices by 20%
Seoul: South Korean tech giant Samsung is reportedly planning to raise chipmaking prices by up to 20 per cent. Samsung is in talks with foundry clients to hike the contract chipmaking prices,…