Chinese technology major Tencent has bought a stake worth $264 million (Rs 2,060 crore) in Walmart-owned Flipkart from co-founder Binny Bansal, through its European subsidiary, according to a news item first broken by news agency PTI. Binny Bansal holds around 1.84% stake in Flipkart after selling part of his stake to Tencent Cloud Europe BV. […]
Commerce and industry minister Piyush Goyal on Sunday asked the World Trade Organisation (WTO) to find a permanent solution to the long-pending issue of public-stockholding for food security. In his intervention at the plenary session of the WTO’s 12th ministerial conference (MC) in Geneva, he also asked advanced fishing nations to take on the responsibility […]
External commercial borrowings (ECBs) by corporate India declined sharply to $312 million in April, compared with a little over $5 billion in March and generally elevated levels for many months through the last two financial years (see chart). A prolonged regime of very low interest rates that prevailed in the developed economies had given a […]
India Inc’s dividend outgo hit a record Rs 3.3 trillion in FY22, translating into a payout ratio of 37.6%. The sharp rise in payouts was largely because state-owned banks resumed distributing dividends after a gap of six years and other CPSEs and top IT players too became more generous with payouts on improved profitability. Top […]
Dragons’ Den star Hilary Devey has died aged 65 after battling a ‘long illness’, her publicist confirmed today. The Bolton-born multi-millionaire entrepreneur passed away at her holiday home in Morroco on Saturday night. She joined BBC Two programme Dragons’ Den in 2011 and left in 2012, going on to present Channel 4’s The Intern. Hilary, […]
Ukraine remains in control of the Azot chemical plant in Sievierodonetsk where hundreds of civilians are sheltering amid bitter fighting, the region’s governor said on Saturday, after a Russia-backed separatist claimed 300 to 400 Ukrainian fighters were also trapped there. Read More
Maharashtra has reported the biggest jump in Covid infections in the last four months with 3,081 new cases, with Mumbai alone accounting for 1,956 cases. The number of active cases till Friday night was 9,191. According to the Maharashtra state health department, there were no Covid-related deaths on Friday. Sudhir Mehta, lead and co-ordinator, Pune […]
SANTA FE — The U.S. government will fund New Mexico’s full wildfire response, President Joe Biden said on Saturday, speaking from Santa Fe amid anger from survivors over the blaze that was started by federal officials. Read More
The Reserve Bank of India (RBI) has cleared the appointment of R Subramaniakumar as managing director and chief executive officer of RBL Bank for a period of three years, the lender said on Saturday. Subramaniakumar has earlier overseen the insolvency process of Dewan Housing Finance Corporation (DHFL) in his capacity as administrator. “Please note that […]