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Facebook doubles profit, but sees cooling growth

AFP The number of people using the social network monthly climbed to 2.9 billion.

1hr

File photo of Federal Reserve Building in Washington.

Fed notes improving economy, a step toward easing support

AP The Fed’s latest policy statement comes as the economy is sustaining a strong recovery from the pandemic recession

4hrs

Union Finance Minister Nirmala Sitharaman Nirmala Sitharaman. File

Deposits upto ₹5 lakh in troubled banks to be repaid in 90 days

Special Correspondent Union Cabinet approves amendment to Deposit Insurance Credit Guarantee Corporation Bill 2021

Tyagi laments lack of disclosures by listed firms

Special Correspondent ‘IPOs more an exit option for investors’

5hrs

Sundaram Home Fin plans to raise ₹2,500 cr.

5hrs

Maruti Suzuki posts Q1 net profit of ₹440.8 crore

5hrs

Strong growth in India, Latin America helps Apple log record $ 81.4 billion revenue in Jun quarter

Flip priorities: Policies must be framed with a focus on micro, small enterprises, not larger firms, the panel says.

Panel raps govt. over MSMEs, urges larger economic package

IndiGo net loss widens on fuel, COVID impact

Special Correspondent ‘May, June revenues lower than April’s’

Canara Bank Q1 net profit triples to ₹1,177 cr.

Special Correspondent ‘Fall in bad loans helped boost profit’

Flipkart goes to SC in CCI probe matter

Legal Correspondent The firms had denied the allegations and wanted the probe quashed.

Opinion & Analysis

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The Finance Minister has delivered, but the road ahead is long: on Union Budget 2021

Ananth Narayan This Budget scores very high marks on credibility and on its potential to create domestic output and jobs, but much more remains to be done

A Budget that fails to address the hunger pandemic

Dipa Sinha In a year of economic slowdown and growing inequality, we have been presented with a stingy Budget that fails to ensure the bare necessities for all

A promising Budget with a few disappointments

M.Govinda Rao While the Budget promises to revive the economy faster, it continues to emphasise the protectionist trend

Markets

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A view of the BSE building in Mumbai. File

Sensex drops 135 points, Nifty ends near 15,700

PTI The 30-share BSE index ended 135.05 points or 0.26% lower at 52,443.71.

Representational Image

Rupee recovers 9 paise to close at 74.38, snaps 2-day losing run

PTI Forex traders said the rupee is trading in a narrow range ahead of the monthly expiry and the U.S. Fed's policy decision.

Economy

See All

File photo of Federal Reserve Building in Washington.

Fed notes improving economy, a step toward easing support

AP The Fed’s latest policy statement comes as the economy is sustaining a strong recovery from the pandemic recession

4hrs

Flip priorities: Policies must be framed with a focus on micro, small enterprises, not larger firms, the panel says.

Panel raps govt. over MSMEs, urges larger economic package

Special Correspondent Parliamentary committee moots steps to boost cash flows for micro, small units

Industry

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Facebook doubles profit, but sees cooling growth

Fed notes improving economy, a step toward easing support

UPASI chafes at mandatory tea auctions

Sundaram Home Fin plans to raise ₹2,500 cr.

Maruti Suzuki posts Q1 net profit of ₹440.8 crore

Ola expands ESOP pool to ₹3,000 cr; adds stock worth ₹400 cr.

Microsoft Teams has almost 250 mn monthly active users: Nadella

We’ve encouraging feedback on early builds of Windows 11, he says

Tyagi laments lack of disclosures by listed firms

‘IPOs more an exit option for investors’

Ashok Leyland to invest $200 mn in Switch Mobility

Ashok Leyland Ltd. (ALL) is planning to invest up to $200 million in its electric vehicle firm Switch Mobility Ltd. over the next few years. Besides,

Nestle India net profit rises 10.68% to ₹538.5 crore in June quarter

Nestle India on Wednesday posted a 10.68% increase in its net profit to ₹538.5 crore for the quarter ended June 30. The company, which follows the

Infosys, ICAI, FinMin fixing I-T portal: FM

Finance Minister Nirmala Sitharaman expressed regret about the new income tax portal’s dysfunctional systems and hoped it would be easy to use soon.

Cabinet clears amendments to LLP Act

The Cabinet on Wednesday cleared amendments to the Limited Liability Partnership (LLP) Act of 2008, to whittle down several provisions, Finance and

‘Deposits up to ₹5 lakh in ailing banks to be repaid in 90 days’

Cabinet approves deposit insurance law amendments on lenders in moratorium

‘Data breaches cost Indian firms ₹165 mn on an average’

Data breaches cost companies in India about ₹165 million on an average, according to a new report by IBM Security and Ponemon Institute. This is an

Paytm Payments Bank issues one crore FASTags

Paytm Payments Bank Ltd. (PBBL) on Wednesday said it had achieved a milestone of issuing one crore FASTags, or almost 30% of the total FASTags issued

Cyient acquiring consultancy firm WorkForce Delta for $2.7mn

Global engineering, manufacturing and digital technology solutions company Cyient is acquiring WorkForce Delta, a consulting firm in mobile workforce

Central Bank Q1 PAT rises 53% to ₹206 crore

Central Bank of India reported net profit for the first quarter increased 53% to ₹206 crore on account of improved performance, it said.Net NPAs

TAFE introduces special tractors in AP

TAFE Ltd. (Tractors and Farm Equipment) introduced Massey Ferguson 244 DI puddling special tractors in the 44 hp range for paddy cultivation.The

Tech firm Clover Infotech to hire 2000 freshers in FY22

Clover Infotech, an IT services and digital-transformation provider, said it would hire 2,000 freshers this year.The company would hire some 1,000

Deposits upto ₹5 lakh in troubled banks to be repaid in 90 days

Union Cabinet approves amendment to Deposit Insurance Credit Guarantee Corporation Bill 2021

AI firm Blaize raises $71 million

Artificial Intelligence computing firm Blaize has raised $71 million from new and existing investors. The firm intends to utilise the Series D

Google parent Alphabet reaches record quarterly revenue, profit in ad boom

Shares of Alphabet rose 5% in extended trading as it reported results that were a beat in financial metrics

Sensex drops 135 points, Nifty ends near 15,700

The 30-share BSE index ended 135.05 points or 0.26% lower at 52,443.71.

Gold marginally lower; silver tumbles ₹ 1,094

Gold in the national capital on Wednesday dipped marginally by ₹ 61 to ₹ 46,607 per 10 gram, according to HDFC Securities. In the previous trade, the

Rupee recovers 9 paise to close at 74.38, snaps 2-day losing run

Forex traders said the rupee is trading in a narrow range ahead of the monthly expiry and the U.S. Fed's policy decision.

Tech firm Clover Infotech to hire 2000 freshers in FY22

Clover Infotech, an IT services and digital transformation provider, said it would hire 2000 freshers this year.The company would hire some 1000

Govt. job fairs see offers fall, applicants increase

28,227 of the 31,727 candidates given final offer letters in 2020-2021 were from Uttar Pradesh

Ola expands ESOP pool to ₹3,000 crore; adds stocks worth ₹400 crore

Ola, a mobility platform, on Wednesday, expanded its ESOP (employee stock option plan) pool to ₹3,000 crore, by allocating additional stocks worth

Strong growth in India, Latin America helps Apple log record $ 81.4 billion revenue in June quarter

In the past too, Apple has highlighted that it sees growth opportunities in the Indian market.

Rolex Rings IPO fully subscribed within hours of opening

Auto components maker Rolex Rings initial public offer was fully subscribed within hours of opening on Wednesday. The IPO received bids for 63,47,712

Explainer | Is RBI planning a digital currency for India?

How will the transition to a new monetary system hold up and what are the risks?

Rupee inches 4 paise higher to 74.43 against U.S. dollar in early trade

On July 27, the rupee had settled at 74.47 against the U.S. dollar.

Sensex drops over 250 points in early trade, Nifty slips below 15,700

Nestle India was the top loser in the Sensex pack, shedding over 1%.

Top Business News of the Day: Oil prices gain despite COVID-19 worries, Alphabet's record quarterly revenue, and more

Top news of the day from the world of business, finance and economy.

Droom to raise $200 mn in pre-IPO round

Droom Technology Private Ltd., a marketplace for used cars, bikes and other mobility products, is planning to raise $200 million in pre-initial public

Ramco Cements Q1 net rises 54%

Ramco Cements reported a 54% increase in standalone net profit for Q1 of FY22 to ₹168.98 crore. The company attributed the rise to implementation of

Hatsun founders repay loans, freeing pledge

Promoters of Hatsun Agro Product have repaid loans availed against a portion of their shares and released the entire pledge, the company said.

Vedanta plans ₹6,611-cr. Balco expansion

Vedanta on Tuesday said it would invest ₹6,611 crore over the next 18-24 months in expansion of smelter capacity at group firm Bharat Aluminium

Granules posts higher net, income in Q1, declares interim

Drugmaker Granules India has posted ₹120 crore in consolidated net profit for the quarter ended June, an 8% increase compared with the ₹111 crore of

Kirloskar files plaint against siblings’ firms

Sanjay Kirloskar-led Kirloskar Brothers Ltd. has filed a complaint with the Securities and Exchange Board of India (SEBI) against four companies led

Cotton prices rise, textile trade seeks zero duty

Textile exports turn expensive: SIMA

Canara Bank Q1 net profit triples to ₹1,177 cr.

‘Fall in bad loans helped boost profit’

IndiGo net loss widens on fuel, COVID impact

‘May, June revenues lower than April’s’

Flipkart goes to SC in CCI probe matter

The firms had denied the allegations and wanted the probe quashed.

Panel raps govt. over MSMEs, urges larger economic package

Parliamentary committee moots steps to boost cash flows for micro, small units

Emcure Pharma inducts 4 independent directors

Emcure Pharmaceuticals Ltd. has announced the appointment of four independent directors to strengthen its board.The new additions include Shailesh

Most CMOs say empathy, transparency critical for brand’s success: Wipro study

Some 68% of respondents, who participated in a study conducted from among over 1,000 global chief marketing officers (CMOs), said empathy and

IMF cuts India's GDP growth forecast to 9.5% for FY22

This forecast for 2021-22 is lower than the 12.5% growth in GDP that IMF had projected in April before the second wave took a grip.

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