Buisiness

BENGALURU: Flipkart co-founder Binny Bansal contributed Rs 70 crore towards setting up an emerging tech-focused institute at Plaksha University. Donors have collectively committed Rs 1,500 crore to the varsity. Bansal said the institute will foster cross-disciplinary learning. Source link

India’s external debt has risen by 10.7% to reach USD 717.9 billion at the end of December 2024, up from USD 648.7 billion in December 2023, according to the latest data released by the Finance Ministry. On a quarter-on-quarter basis, the external debt increased by 0.7%, from USD 712.7 billion at the end of September…

BENGALURU: Defence PSU Hindustan Aeronautics Limited (HAL) Monday said it recorded a provisional and unaudited revenue of Rs 30,400 crore for 2024-25, marginally higher than the Rs 30,381 crore in the previous fiscal.HAL CMD DK Sunil said: “This achievement came despite the shortfall in deliveries of Light Combat Aircraft (LCA) and Advanced Light Helicopter (ALH)….

The Employees Provident Fund Organisation (EPFO) has announced to increase in the auto-settlement of advance claims (ASAC) limit, raising it five times from Rs 1 lakh to Rs 5 lakh. The move is designed to enhance the ‘ease of living’ for its 7.5 crore members, sources told news agency ANI. According to sources, Sumita Dawra,…

Hong Kong-listed property giant Vanke reported a significant annual loss of 49.5 billion yuan ($6.8 billion) on Monday, attributing the sharp decline to falling sales and shrinking profit margins despite efforts by Beijing to revive the struggling housing market. The company stated that 2024 had been an “exceptionally challenging year,” apologizing for the “distress caused”…

Dr Krishna Prasad Rao Vunnam, founder & managing director, Ankura Hospitals HYDERABAD: Ankura Hospitals, a Hyderabad-based super-specialty tertiary and quaternary care services provider, has secured a funding of Rs 165 crore from the Asian Development Bank (ADB).Prior to this round, the hospital chain had raised $17.8 million with the largest round so far being the…

As President Donald Trump’s “Liberation Day” approaches, stock markets around the world saw declines on Monday, driven by fears of the tariffs set to take effect on Wednesday. From Wall Street to Wellington, New Zealand, global markets faced significant sell-offs ahead of the impending economic moves.In the US, the S&P 500 dropped by 0.6%, following…

Haldiram’s Snacks Food, India’s leading snack and food brand, confirmed on Monday that it has sold a stake to two new investors—International Holding Company (IHC) and Alpha Wave Global. The financial details of the deal were not disclosed, according to news agency PTI. This follows the announcement from Sunday, where Haldiram’s revealed a minority stake…

Rocket companies (Photo-AP) Rocket Mortgage is acquiring competitor Mr. Cooper in an all-stock deal valued at $9.4 billion, shortly after its acquisition of real estate listing company Redfin. The merger will create a combined entity handling one in every six mortgages in the US, adding nearly 7 million new clients to Rocket’s portfolio. This strategic…

Trump said the US would begin collecting tariffs on autos on April 3. US President Donald Trump’s sweeping 25% tariff on all imported vehicles and parts is a windfall for Elon Musk’s Tesla — at least on American soil. But it may prove meaningless against the rising global threat posed by China’s electric vehicle juggernaut,…