Business news

Despite EU fine, Alphabet records $3.2 billion profit

Google's parent company beat all expectations with a profit of $3.2 billion for Q2 in 2018. CEO Sundar Pichai is hopeful of finding a solution to the Andriod problem that lead the EU to fine Google $5 billion.

Jul 24, 2018

Chinese boost for OYO Rooms? Tencent in talks to invest up to $500 mn

The investment would raise the Indian company's value to over $2 billion. Oyo needs the funds to expand further in China, its largest overseas market, where it has witnessed rapid growth since starting operations in November 2017.

Jul 24, 2018

Dubai hits rough patch as markets slump; economic slowdown on the cards?

Dubai is going through a rough patch as residential property prices have dropped by more than 15 percent since late 2014 and are still falling. The stock market is down 13 percent this year, the worst performance in the region.

Jul 22, 2018

OnePlus 6, Midnight Black, India, launch, price

OnePlus eyeing new HQ in India; R&D centre likely in Bengaluru or Hyderabad

OnePlus has announced plans to open a global HQ in India, as well as an R&D centre in either Bengaluru or Hyderabad. Along with local manufacturing, the centres are expected to help make OnePlus more popular in India as well as lower prices.

Jul 22, 2018

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After making a profit, Ola eyes IPO

The app-based ride-hailing service has finally begun making a profit of every ride, prompting CEO Bhavish Aggarwal to eye an IPO within the next four years.

Jul 21, 2018

Microsoft investors celebrate after stock hits new record high

Growth in its software and Azure cloud services business bolstered Microsoft's stock to $108.20 in early trade, resulting in a market cap of $832 billion after its earnings call. The company is now a close third, in the race with Apple and Amazon to be the first $1 trillion company.

Jul 21, 2018

Wipro sees strong demand for services from financial clients

Beating analysts' forecasts, net profit for the IT firm grew 2 percent mostly for its US businesses. India and the Middle East contribute around 10 percent, a number that the company is keen to change at the earliest.

Jul 21, 2018

Trump holds his signed memorandum on intellectual property tariffs

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Trump's trade war: Amazon, Toyota working to counter tariff plans

Toyota Motor North America, a subsidiary of Japan's Toyota, even flew workers to Washington for a rally this week in front of the U.S. Capitol.

Jul 21, 2018

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Weak Rupee, no-confidence vote help IT stocks soar

Sensex sees a rise as Rupee weakens after a no-confidence vote and a drop in the value of the Yuan. IT stocks are the biggest earners from the weakening value of India's currency.

Jul 20, 2018

Comcast concedes defeat to Disney, withdraws bid for Fox

Comcast announced that it was dropping its $66 billion bid for Twenty-First Century Fox, clearing the path for Disney to take over the lucrative entertainment assets. Comcast will now focus on acquiring a stake in European broadcaster Sky.

Jul 20, 2018

If TRAI has its way, iPhones may soon stop working on Indian networks

The body on Thursday launched a new regulation making it mandatory for TRAI's DND app to be installed on all devices, or else it could force mobile operators to de-register non-compliant devices, mainly iPhones since Apple is yet to allow DND on the App Store.

Jul 20, 2018

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Ola expands Australian services with Adelaide

The Indian app-based taxi service has announced operations in its sixth Australian city on Thursday. Riders in Adelaide will be offered discounted services as Ola begins services in the city.

Jul 19, 2018

Cargo containers are seen stacked outside the container terminal of Jawaharlal Nehru Port Trust

New report finds digitisation could open up a market worth $39 billion for India

A report by Google-KPMG found that digitisation could unlock export opportunities worth $39 billion for Indian businesses in travel, media and entertainment and real estate, amongst others by 2022.

Jul 19, 2018

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Sensex continues to trade flat ahead of no-confidence motion against Modi government

The parliament will debate a no-confidence motion tabled by opposition parties against the Prime Minister Narendra Modi's government on Friday.

Jul 19, 2018

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Amazon close to edging out Apple as most valuable American company

E-commerce giant Amazon's market cap touched $900 billion following the success of its Prime Day sale. Headed by Jeff-Bezos, the company now looks at dislodging Apple as the most valuable company in the USA.

Jul 19, 2018

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