In this issue

March 24, 2023

HAL OFS subscribed 2x, shares fall almost 5%

Share sale firms up PSU's chances of MSCI India inclusion

2 mins

INDIA'S EXTERNAL SITUATION QUITE STABLE, SAYS NAGESWARAN

With global crude oil prices on the slide, India's current account deficit (CAD), too, will drop in the current fiscal year (2022-23, or FY23) and the next (2023-24, or FY24), with the \"external situation being quite stable\", indicated Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday.

2 mins

Sebi board to approve new ESG framework

Adani-Hindenburg Saga may be discussed

2 mins

FinMin asks govt banks to share bond portfolio data

The Union finance ministry has asked public sector banks (PSBS) to furnish details of their bond portfolios ahead of their meeting with Finance Minister Nirmala Sitharaman on Saturday, amid the turmoil in global banks.

2 mins

BANK OF ENGLAND LIFTS RATE, SAYS INFLATION REMAINS A RISK FOR UK

The Bank of England pushed ahead with another interest rate increase despite turmoil in the banking sector, predicting the UK economy will avoid a recession for now and that inflation remains a risk.

1 min

RUPEE GAINS SHARPLY VS DOLLAR AS FED SOFTENS VIEW ON RATE HIKE

Forward premiums jump to five-month high as US rate view changes

2 mins

Tata likely to pump $2bn into super app

Tata Group is considering injecting another $2 billion of fresh capital into its super app venture as the salt-to-software conglomerate seeks to bolster its digital business, according to people familiar with the matter.

1 min

Accenture to cut 19,000 jobs as IT spending slows

Lowers revenue, profit forecast; India impact unclear

2 mins

Lok Sabha passes ₹45-trn Budget without debate

The Lok Sabha on Thursday approved the Union Budget envisaging an expenditure of around ₹45 trillion for the fiscal year starting April 1 without any discussion, as the Opposition continued to create ruckus over the Adani Group.

1 min

Rahul Gandhi Gets 2-Year Jail Term In Modi Surname Case

Surat court gives Cong leader 30 days to appeal against order in higher court

4 mins

Chinese firms may need majority Indian partners to set up plants

Chinese companies will need to concede a majority 51 per cent stake to their Indian joint venture (JV) partners for setting up a component manufacturing plant in the entire mobile device and electronics supply chain ecosystem in the country.

2 mins

Reliving the lockdown, three years later

Three years after the Covid-19 lockdown was announced by Prime Minister Narendra Modi, Business Standard reporters went around the capital city and also connected with people elsewhere to get a sense of how the pandemic and the lockdown remain fresh in memory.

2 mins

ONDC forays into mobility segment; takes on Uber, Ola

India's Open Network for Digital Commerce (ONDC) has forayed into the mobility space to help local businesses compete with large players such as Uber and SoftBank-backed Ola.

1 min

Foxconn deal: K'taka labour laws in focus, TN may follow

Foxconn's decision to invest ₹8,000 crore in Karnataka, cleared by the state government on Monday, has brought into limelight the recent changes in the state's labour laws allowing 12-hour shifts in factories and nighttime work for women. The changes had gone almost unnoticed when they were passed in the state Assembly on February 24 as part of the Factories (Karnataka Amendment) Bill 2023 without a debate as the opposition walked out in protest.

2 mins

Mercedes-Benz plans to launch 4 EVs in India in 8-12 months

Mercedes-Benz AG will launch four electric vehicles (EVS) in India in the next 8-12 months, said the company's head of region overseas, Matthias Thursday.

1 min

Neighbours, allies to get access to India's 5G testbed

Will allow other nations to expand 5G roll-out plans or fine-tune tech

2 mins

Data Patterns develops equipment to check BrahMos missile functions

Data Patterns, one of India's fastest-growing and technologically most promising aerospace and defence (A&D) firms, unveiled in Chennai on Wednesday an indigenous BrahMos missile check-out equipment (COE), ready for delivery to BrahMos Aerospace.

2 mins

TikTok CEO rebuts Chinese spy charge at Congress grilling

TikTok's chief executive faced tough questions on Thursday from lawmakers who are convinced the Chinese-owned short video app should be barred for being a potential national security threat to the United States.

1 min

Google employees write open letter to Pichai on layoffs

Almost 1,400 employees at Google parent Alphabet have signed a petition calling for better treatment of staff during the layoff process, after the company announced it was cutting 12,000 jobs.

1 min

IN RELIEF FOR SACKED IMMIGRANTS...US business, tourist visa holders can apply for jobs

Those laid off don't have to mandatorily leave country within 60 days: USCIS

1 min

'Facilitated fraud': Hindenburg shorts Dorsey's payments firm

Block shares tumbled after Hindenburg Research said it's betting on a decline in the stock, alleging the payments company led by Jack Dorsey facilitated fraudsters who took advantage of government stimulus programs during the pandemic.

2 mins

Next-generation tech

Govt's focus on 6G will enable R&D

2 mins

A dangerous turn in Punjab

India's politicians will have to place national interest ahead of electoral benefit to combat the emergence of the new Khalistan movement

4 mins

Indian professionals like to be in office, back hybrid work: Report

‘Desk bombing’, loud leaving’ among new workplace trends, says LinkedIn

2 mins

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