Tag: Business News

Rupee pares initial gains, settles 3 paise lower at 83.27 against U.S. dollar

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Rupee pares initial gains, settles 3 paise lower at 83.27 against U.S. dollar

Image used for representational purpose. | Photo Credit: Reuters The rupee pared initial gains and settled 3 paise lower at 83.27 against the U.S. dollar on October 5, following a recovery in the American currency. Forex traders said the rupee consolidated in a narrow range as investors preferred to stay on the sidelines ahead of…

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Business

Morning Digest | 10 civilians dead, 22 army men still missing in Sikkim, rescue operations on; Media bodies write to CJI, call for norms on interrogation of journalists and more

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Morning Digest | 10 civilians dead, 22 army men still missing in Sikkim, rescue operations on; Media bodies write to CJI, call for norms on interrogation of journalists and more

A flood affected locality at Singtam, in Gangtok district, Wednesday, October. 4, 2023. | Photo Credit: PTI 10 dead, 22 army men among 82 missing as flash flood wreaks havoc in Sikkim; PM Modi dials CM At least ten people died and 80 others, including 22 army personnel, went missing on Wednesday after a cloudburst…

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World

Regulating OTT platforms reignites India’s net neutrality debate

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Regulating OTT platforms reignites India’s net neutrality debate

In recent weeks, the telecom industry loudly demanded a ‘network usage fee’ from Big Tech platforms whose traffic constitutes a major part of the data flowing through the Indian internet. Internet rights groups have pushed back on these demands, saying that they are a violation of net neutrality, the principle that all data online should…

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Business

Rupee rises 14 paise to 83.05 against U.S. dollar

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Rupee rises 14 paise to 83.05 against U.S. dollar

Image used for representational purpose only. | Photo Credit: Reuters The rupee appreciated 14 paise to settle at 83.05 (provisional) against the U.S. dollar on September 29, boosted by a firm trend in equity markets and a sharp correction in the greenback against major rivals overseas. However, selling pressure from foreign equity investors and rising…

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Business

BYJU’s To Lay Off 3,500 Employees Overhired During Pandemic: Report

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BYJU’s To Lay Off 3,500 Employees Overhired During Pandemic: Report

Layoffs in Byjus: With this, total number of employees at BYJU’s will fall to 31,000-33,000. New Delhi: Edtech major BYJU’s may lay off up to 3,500 employees during the current fiscal as it looks to consolidate teams and enhance regional focus, sources privy to the development said. According to one of the sources, BYJU’s had…

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Business

Rupee falls 16 paise to 83.10 against US dollar in early trade

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Rupee falls 16 paise to 83.10 against US dollar in early trade

Withdrawal of foreign funds from domestic equities and upward movement in crude oil prices also weighed on the Indian currency, forex traders said. | Photo Credit: Reuters The rupee depreciated by 16 paise to 83.10 against the US dollar in early trade on Monday, taking cues from subdued equity market sentiment and a firm American…

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Business

Govt. hikes windfall tax on domestic crude, cuts levy on export of diesel, ATF

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Govt. hikes windfall tax on domestic crude, cuts levy on export of diesel, ATF

Image used for representative purpose only. | Photo Credit: AP The government on Friday hiked special additional excise duty (SAED) on crude petroleum to ₹10,000 per tonne with effect from September 16. In the last fortnightly review on September 1, windfall tax on domestically produced crude oil was set at ₹6,700/tonne. Besides, the SAED or…

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Business

SpiceJet-Credit Suisse case: SC threatens to throw SpiceJet CMD into ‘Tihar jail’ over non-payment of dues to Swiss firm

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SpiceJet-Credit Suisse case: SC threatens to throw SpiceJet CMD into ‘Tihar jail’ over non-payment of dues to Swiss firm

Supreme Court threatens to throw SpiceJet CMD Ajay Singh into ‘Tihar jail’ over non-payment of dues to Swiss firm. | Representative Image | | Photo Credit: SUSHIL KUMAR VERMA The Supreme Court has come down hard on SpiceJet Chairman and Managing Director Ajay Singh, warning him he will be sent to Tihar jail for non-compliance…

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Business

Elon Musk borrowed $1 billion from SpaceX in same month of Twitter buyout: WSJ

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Elon Musk borrowed billion from SpaceX in same month of Twitter buyout: WSJ

File photo of Twitter and SpaceX owner Elon Musk | Photo Credit: Reuters SpaceX CEO Elon Musk tapped the rocket maker for a $1 billion loan around the time he was acquiring social media company Twitter, now known as X, the Wall Street Journal reported on Tuesday. SpaceX approved the loan, which was backed by…

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World