Business news

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To the brink & back: Vodafone-Idea jumps 18%

Finance Minister Nirmala Sitharaman on Friday stated that the government doesn't want any telecom company to shut operations.

Nov 19, 2019

Alibaba plans to raise $20 billion in a blockbuster Hong Kong listing

Alibaba Singles' Day sales logs 5.44 lakh orders per second

Alibaba Cloud,' the data intelligence backbone of the company, successfully handled peak order rate of 5.44 lakh per second during the 24-hour "11.11 global shopping festival" that recorded $38.4 billion gross merchandise volume.

Nov 19, 2019

Auditors raise doubts over NDTV's ability to continue as going concern

The auditors' report that the parent company which runs the television business, current liabilities exceed its current assets by Rs 88.92 crore.

Nov 18, 2019

Saudi Aramco IPO: Oil giant may beat valuation shock with record stake sale

Saudi national oil company Aramco lowers valuation target to $1.71-trillion from earleir $2 trillion; 1.5% stake sale could still top Alibaba's $25-billion IPO to become the world's biggest.

Nov 18, 2019

'Make in India' hub Noida to churn over 30 crore mobile phones in 5 years

Approximately 80 mobile manufacturing factories are currently operating in this region, with an estimated total employment of 50,000 people.

Nov 17, 2019

Bill Gates officially surpasses Jeff Bezos as richest person on Earth

The Microsoft co-founder had briefly topped Bezos as the world's richest man last month after Amazon's lacklustre Q3 results resulted in Bezos losing nearly $7 billion in stock value.

Nov 16, 2019

FM Sitharaman announces steps to boost liquidity, demand

Favourite whipping boys: Will millennials be next blamed for swelling bank NPAs?

After taking the taint for economy's growth woes from auto sector slowdown to retail sector trouble, millennials may now draw the flak for another round of non-performing assets surge in banks.

Nov 15, 2019

India resumes buying Malaysian palm oil as Kuala Lumpur offers discount

Indian refiners stopped purchases from Malaysia last month, fearing a rise in import taxes or other measures to curb imports after Kuala Lumpur criticized New Delhi for its actions in Kashmir.

Nov 15, 2019

Vodafone Idea to shut shop? Aditya Birla group refuses to inject fresh equity

The development has come days after Vodafone Group CEO Nick Read showed his frustration on the scenario in the Indian telecom sector.

Nov 14, 2019

Will Mukesh Ambani let rival Sunil Mittal's Airtel grab brother's RCom assets?

Telco wars worsen as Bharti Airtel bids for Anil Ambani's Reliance Communication's spectrum assets that Mukesh Ambani's Jio had previously tried to acquire.

Nov 13, 2019

Vodafone writes off book value of Indian operation, CEO flags liquidation risk

As per financial results released by Vodafone Group on Tuesday, the book value of Vodafone's 45 per cent stake in the joint venture, Vodafone Idea, has slumped to zero in November 2019.

Nov 13, 2019

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These IT firms are banned from applying for US H-1B visas: Report

The major IT companies disqualified from applying for H-1B visas are, Azimetry, Inc., Bulmen Consultant Group, Inc., Business Reporting Management Services, Inc., NETAGE, Inc., Kevin Chambers, E-Aspire IT LLC and more.

Nov 13, 2019

Backlash over Reliance Jio's decision to charge voice calls

Vodafone issues ultimatum to Indian govt: UK media

Global telecom player, Vodafone has told Indian authorities that it will not provide more capital for its India business unless there are provisions allowing it to compete with Mukesh Ambani's Reliance Jio.

Nov 13, 2019

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Alibaba Singles' Day sales jump 24.3% to $38.3 bn, sets new record

The high-double digit growth in the Global Shopping Festival, branded as Double 11, holds high hopes for the Chinese economy which has slowed down in the wake of global trade war and sagging demand.

Nov 12, 2019

Discontent in ITS officers of BSNL/MTNL after govt revival package

The Indian Telecom Service Association (ITSA) has asked the Central government to issue directions to the DoT, BSNL and MTNL to effectively execute the revival plan announced by the Union government to allocate resources in an optimal manner.

Nov 12, 2019