Financial Express Mumbai - May 19, 2023
Financial Express Mumbai - May 19, 2023
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In this issue
May 19, 2023
Sebi to amend price-sensitive info norms
Proposes widening the ambit of UPSI definition
2 mins
Everstone to exit Burger King
PRIVATE EQUITY FIRM Everstone Capital is looking to offload its nearly 41% stake in Restaurant Brands Asia, formerly Burger King India, sources have told FE.
2 mins
China's Shein to re-enter India
Ties up with Reliance Retail
2 mins
Infosys cuts Q4 variable pay to 60%
IN A SIGN software of tough times for the services companies, Infosys has reduced the average variable payout at an organisational level to 60% for Q4 FY23. The company has informed the same to its employees in an internal mail.
1 min
Rising vegetable prices may counteract fall in food inflation
Onset of summer could raise prices of fruits & vegetables
3 mins
S&P affirms India rating, retains 'stable' outlook
CITES 'FAST-GROWING ECONOMY, BUT NOTES 'BURDENSOME DEBT STOCK'
1 min
Sept 30 deadline for exporters to use amnesty scheme
EXPORTERS, WHO INTEND to opt for the amnesty scheme on unfulfilled export obligations, will have to make the requisite payments on or before September 30, 2023, according to a circular issued by the Central Board of Indirect Taxes and Customs late Wednesday.
1 min
India's exports to be hit by EU's deforestation regulation: GTRI
Compliance poses challenge for small enterprises
2 mins
E2W prices set to rise as govt plans cut in FAME-2
CUSTOMERS MAY NEED TO PAY AROUND 33% MORE
2 mins
IndiGo posts ₹920-cr profit, its best fourth quarter ever
INDIGO'S PARENT FIRM InterGlobe Aviation on Thursday reported its best-ever fourth-quarter net profit in March helped by higher load factors and better absorption of fixed cost.
2 mins
Govt offers auto PLI 2.0 to bring Tesla to India
WITH TESLA PROPOSING a manufacturing plant in India, the government plans to come out with a modified production-linked incentive scheme for electric vehicles and advance chemistry cell battery, to invite fresh investments by companies which did not participate earlier.
2 mins
Swiggy's food delivery business turns profitable
FOODTECH UNICORN SWIGGY'S core food delivery unit is now profitable after factoring in all corporate costs, excluding employee stock option costs, according to a statement from the firm's CEO and co-founder Sriharsha Majety on Thursday.
2 mins
ITC tops Q4 estimates; FMCG, hotels drive 23% rise in profit
BOARD RECOMMENDS ₹9.5 TOTAL DIVIDEND
2 mins
Byju's Alpha sued by loan agent for $1.2 bn
ONE OF INDIA'S hottest tech companies, Byju's Alpha, was sued by an agent for lenders in connection with a term loan of $1.2 billion after months of negotiations between creditors and the education technology firm.
1 min
Amazon's cloud arm to invest ₹1.06 trn in India
AMAZON WEB SERVICES (AWS), e-commerce giant Amazon's cloud computing subsidiary, will invest ₹1.06 trillion ($12.7 billion) for cloud infrastructure in India by 2030, targeting the growing customer demand for the services in the country.
2 mins
BT plans to cut up to 55,000 jobs following fibre rollout
Number of workers to reduce to 75K-90K by 2030
2 mins
Siege around Imran Khan home continues
PAKISTANI POLICE KEPT up their siege around the home of Imran Khan as a 24-hour deadline given to the former premier to hand over suspects allegedly sheltered inside expired on Thursday.
1 min
In Battle Over AI, Meta Decides To Give Away Its Crown Jewels
IN FEBRUARY, META made an unusual move in the rapidly evolving world of artificial intelligence: It decided to give away its AI crown jewels.
3 mins
Alibaba breakup starts with cloud arm spinoff
ALIBABA GROUP HOLDING will explore initial public offerings for its logistics and grocery arms while hiving off its $12-billion cloud business, kicking off the first phase of a much-anticipated breakup to try and revive anemic revenue growth.
1 min
SBI Q4 profit jumps 83% on strong NII growth, stable NPAS
HIGHEST-EVER YEARLY PROFIT AT ₹50,232 CRORE
2 mins
SIM card may be made a must to use WhatsApp
WHATSAPP IS MULLING an update wherein users can use the instant messaging app only if a mobile phone has a SIM card.
1 min
Peak power demand climbs to fresh record
THE RISING HEATWAVE in India soared the country's peak power demand to a new high of 2,21,076 MW on Wednesday as per the Grid Controller of India Ltd, raising concerns about power shortages as temperatures continue to rise.
1 min
Domino's To Add ONDC On Its Menu
TECH INTEGRATION ON THE CARDS
2 mins
After his repeated swipes at SC, Rijiju loses law ministry
CABINET RESHUFFLE
2 mins
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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