State-owned Union Bank of India on Friday reported 22.68 per cent jump in consolidated net profit at Rs 1,557.09 crore for March quarter 2021-22 helped by a Rs 627 crore gain through a stake-sale in its insurance arm and benefits through low cost of deposits. On a standalone basis, the lender reported 8.26 per cent [...]
Revenue Intelligence officers have seized 15.93 kg of foreign origin gold valued at over Rs 8 crore smuggled through the India-Myanmar border, the Finance Ministry said on Friday. In an operation code-named 'Gold on the Highway', the Directorate of Revenue Intelligence (DRI) officers acted on specific intelligence mounted surveillance on two oil tankers and a [...]
The government has fixed the issue price of LIC shares at Rs 949 apiece, the upper end of the IPO price band, ahead of the listing of the country's largest insurer on May 17. However, LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 a piece, [...]
On-demand convenience platform Swiggy on Friday said it has entered into a definitive agreement with Times Internet to acquire dining out and restaurant tech platform Dineout for an undisclosed sum. Dineout, which serves diners across its network of 50,000 restaurants in 20 cities, will continue to operate as an independent app post the acquisition, Swiggy [...]
The Asian Development Bank (ADB) has indicated that it will provide USD 2.5 billion in additional loans to Pakistan, including USD 1.5 billion before the end of this year, to help the cash-starved country which is in dire need of foreign assistance due to its depleting forex reserves and growing repayments and import financing requirements. [...]
Cash-strapped Pakistan's foreign exchange reserves have dropped to their lowest level since December 2019, owing to an increase in current account and trade deficits, higher external debt payments and dried dollar inflows, according to a media report on Friday. As per data from Pakistan's central bank, inflows clocked in at USD 16.4 billion in the [...]
Agritech startup Fyllo on Friday said it has raised USD 2 million (over Rs 15 crore) in a funding round led by Triveni Trust, Ninjacart and existing investor IAN. New investors, including Venture Catalysts, StarAgri, Kia Ora Ventures, Singularity Ventures and Mastermind Capital, also took part in the round, the company said in a statement. [...]
India loses more people in road accidents than in a war, Union Minister General (retd) V K Singh said on Friday. Addressing an event organised by industry body Assocham, Singh said road safety is the most important issue which the government needs to tackle. "More than 1.35 lakh people lose their lives due to road [...]
Brookfield Asset Management-based Pipeline Infrastructure Ltd has signed a pact with state-owned GAIL for jointly developing a hydrogen-based ecosystem in India. The MoU aims at collectively exploring the feasibility, desirability and viability of hydrogen as a source of energy and thus build a partnership between the companies, official sources said. Pipeline Infrastructure Limited (PIL) is [...]
Crude oil prices on Friday rose by Rs 87 to Rs 8,261 per barrel as participants widened positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 87 or 1.06 per cent at Rs 8,261 per barrel in 5,601 lots. Analysts said the raising of [...]
