Business news

Idea–Vodafone bows in front of DoT; pay up Rs 72 billion

The deal is expected to get a final approval from the DoT within next week. After many rounds of deliberations, the DoT was adamant on its demand of Rs 72 billion which was eventually paid by the two telcos

Jul 24, 2018

Reliance Jio effect: Indian telcos continue to register losses

In the last quarter of the fiscal year 2017-18, the revenue of two of India's largest telecom companies Bharti Airtel Ltd and Idea Cellular Ltd has declined. Bharti Airtel Ltd reported a loss in revenue of 3.7% while Idea Cellular Ltd witnessed a decline in revenue at 5.7%.

Jul 24, 2018

Dalal Street maven Rakesh Jhunjhunwala says Modi will win 2019 elections: Here's why

If the wisest are those who are wise with money, Prime Minister Narendra Modi can take heart. India's ace investor Rakesh Jhunjhunwala predicts Modi will come back to power in 2019.

Jul 24, 2018

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Surge in auto, cement stocks pushes Sensex to record high

Indian shares gained for the third straight session on Tuesday, with the benchmark BSE index hitting a record, as cement and auto stocks surged on hopes of improved results, while reports suggested a surge in exports to BRICS nations.

Jul 24, 2018

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Despite US sanctions, Iran becomes India's second largest oil supplier

Latest figures indicate that Iran toppled Saudi Arabia to become India's second largest oil supplier, with 5.67 million tonnes in the first three months. The country is preparing to wind down on Iranian imports after Trump reintroduced sanctions on the country.

Jul 24, 2018

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

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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