Business news

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

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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

Jeff Bezos, founder of Blue Origin and CEO of Amazon, speaks about the future plans of Blue Origin during an address to attendees at Access Intelligence's SATELLITE 2017 conference in Washington, U.S., March 7, 2017.

Billionaire Jeff Bezos now plans to own an NFL team

According to CBS Sports, Bezos spent considerable time around owners, including Washington Redskins' Dan Snyder, and is in the process of moving to Washington.

Nov 12, 2019

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

Alibaba Singles' Day sales jump 25% in first 9 hours to $23 billion

Alibaba netted online sales worth $30 billion across its platforms on Singles' Day last year, dwarfing Cyber Monday's $7.9 billion.

Nov 11, 2019

Are e-commerce firms Amazon and Flipkart going to face more regulatory pressure?

Brick-and-mortar traders have urged PM Modi to institute a ministerial-level inquiry into 'unholy nexus' between banks and e-commerce giants Amazon and Flipkart.

Nov 11, 2019