Debt-ridden Pakistan has shared its plan with the IMF to secure an additional USD 3 billion to meet the mandatory financing assurances laid by the global lender for it to release the country's stalled bailout plan, it emerged on Wednesday. The Washington-based global lender had asked Pakistan to arrange USD 6 billion in external financing [...]
General insurer ICICI Lombard on Tuesday said its net income jumped almost 40 per cent to Rs 437 crore for the March quarter, boosted by the base effect in the year-ago period when it took a heavy hit from the pandemic-related claims. Premium income just inched up 6.7 per cent in the reporting quarter to [...]
The board of the country's biggest lender State Bank of India (SBI) on Tuesday said it proposes to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations. The board of the bank on Tuesday approved the proposal to raise fund in "single or multiple tranches up to USD 2 [...]
The board of state-owned Bank of India (BoI) on Tuesday approved plans to raise Rs 6,500 crore from various means, including share sale, to fund business growth in 2023-24. The proposal in this regard was cleared by the board in a meeting held on Tuesday, BoI said in a regulatory filing. The board considered and [...]
French cosmetic major L'Oreal on Tuesday announced a strategic investment in DSG Consumer Partners IV, the fourth fund of Singapore-based venture capital DSGCP, without disclosing the amount. DSG Consumer is focused on growing consumer brand startups across Southeast Asia and India. "Through this investment, L'Oreal will support early-stage entrepreneurs building the next generation of insurgent [...]
HP India on Tuesday said the PC market is recovering now, and higher demand is expected to come in the next six months compared to the traction the company received in the last six months. HP India senior director for personal systems Vickram Bedi said the base of personal computers has increased compared to the [...]
The Karnataka High Court has quashed the order of the National Company Law Tribunal (NCLT) that had passed an order allowing the operations of windmills on forest land in the state to a Mumbai-based company. The HC said the tribunal did not have jurisdiction over the matter of setting aside a government order. "The company [...]
Entertainment OTT player Netflix has slashed subscription rates in 116 countries following the success of its business model in India, the company said on Wednesday. Netflix has seen a 30 per cent growth in customer engagement and 24 per cent revenue growth year-on-year in India after it launched a low-priced subscription plan in the country [...]
Fantasy sports' revenue is likely to grow over three-fold to Rs 25,240 crore by FY2027, a joint report by the Federation of Indian Fantasy Sports and Deloitte India said on Tuesday. The report claimed that India is the fastest-growing FS (fantasy sports) market in the world with over 300 fantasy sports platforms (FSPs) and 18 [...]
The United States’ becoming India’s largest trading partner is testament to the strengthening of bilateral ties between the two democracies, an Indian American Congressman said Tuesday. “The rapid growth of trade between the United States and India is a testament to the ties between our democracies growing stronger as our partnership increases both the prosperity [...]
