Business news

State Bank of Mauritius branch in Mumbai loses Rs 143 crore in cyber fraud

The State Bank of Mauritius said that some unknown persons have hacked into its servers to illegally access various accounts and managed to transfer money to multiple accounts outside the country.

Oct 12, 2018

IKEA to invest Rs 2,000 crore in upcoming Bengaluru showroom

Like other outlets, the Bengaluru store will have a food court attached to the furniture store. It will also feature a supervised daycare centre for children.

Oct 12, 2018

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Amid stock market rout, gathering gloom on mutual funds scene

The growth in new funds in the last three months was a marginal 2 percent. Analysts note that investors are not stopping SIP -- just yet. However, new allocation are not happening either.

Oct 12, 2018

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Jet Airways may ground 23 Boeing 737s to cut costs, defaults on salary payment again

The issues were discussed during a meeting with the National Aviators Guild (NAG), the pilot union of Jet, during which Jet Airways also delayed payments to its pilots and engineering staff, the deadline for which was October 9.

Oct 12, 2018

Google India revenue grows 29% to Rs 9,337.7 crore; profit up by 33% in FY18

The net profit was higher by about 33 per cent at Rs 4.072 billion last fiscal as compared to Rs 3.066 billion in the previous year.

Oct 12, 2018

Air India plane hits Trichy airport wall; Civil Aviation Minister Prabhu orders investigation

A portion of the westside wall, the antenna and the instrument landing system (ILS) were damaged in the incident.

Oct 12, 2018

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Centre to raise import tariffs on electronic and communication items to bolster a falling rupee

India said on Thursday it will raise import tariffs on several electronic items and communication devices, in another move to rein in imports and bolster a falling rupee.

Oct 12, 2018

Flipkart co-founder Sachin Bansal to invest Rs 740 crore in Ola

The proposed amount of investment is significant with the fact that it is more than 10 of his personal returns gained from the Flipkart-Walmart deal this year.

Oct 11, 2018

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Is the bubble bursting? Indian stocks sold like there's no tomorrow

With valuations remaining a fundamental concern, Indian markets will now look at the incoming earnings season. If corporate profitability comes under strain that can trigger a further collapse.

Oct 11, 2018

IT raids at media mogul Raghav Bahl's home in Noida, 'The Quint' office

It is understood that the searches are being conducted at the premises of a few other people as part of the ITD action to probe tax evasion by a set of business professionals.

Oct 11, 2018

Rattled Wall Street stock investors fret about a correction

US President Donald Trump blamed the Federal Reserve, which he said has gone "crazy" raising interest rates.

Oct 11, 2018

James Murdoch rumoured to replace Elon Musk as Tesla chairman

Murdoch currently serves on the boards of Twenty-First Century Fox and News Corp.

Oct 11, 2018

Google drops out of bidding for $10 billion Pentagon cloud computing contract

The principles bar use of Google's artificial intelligence (AI) software in weapons as well as services that violate international norms for surveillance and human rights.

Oct 10, 2018

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Gold glitters on Navaratri demand, rises by Rs 200

Bullion traders said increased buying by local jewellers as well as retailers, driven by the beginning of festive demand in domestic spot markets led to the rise in gold prices.

Oct 10, 2018

Oyo to enter Japanese market ahead of 2020 Tokyo Olympics

Oyo has planned an aggressive global expansion plan as the company entered the Japanese market only within a year after launching its operations in China.

Oct 10, 2018