Business

Chennai: Travel major Thomas Cook (India) Ltd on Monday said the Sub-Committee of the Board of Directors, has approved the conversion of the balance Rs 132.9 crore Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) held by the promoter Fairbridge Capital (Mauritius) Limited (FCML), into 2.8 crore equity shares. The Company had earlier converted Rs 302 […]

Chennai: About 1,100 workers have resumed work at the Ford India Private Ltd’s Maraimalainagar plant near here even though an agreement between the workers’ union and the management on severance package has not been reached, sources said. “There is no progress in the talks with the management on the severance package. However, workers have started […]

Mumbai: Equity indices started the trade on a firm note on Monday with the Sensex climbing 254 points, but within minutes, the benchmarks pared all early gains to trade in the negative territory. The BSE benchmark was trading with a jump of 253.69 points at 51,614.11 in early trade. The Nifty too gained 69.6 points […]

Mumbai: The rupee strengthened by 12 paise to 77.93 against the US dollar in opening trade on Monday as easing crude oil prices supported the local unit. However, unabated foreign fund outflows, a lacklustre trend in domestic equities and strong American dollar overseas restricted the gain, forex dealers said. At the interbank foreign exchange, the […]

Hyderabad: Premier management institute Indian School of Business (ISB), which has its campuses in Hyderabad and Mohali, is working to create a global corridor for startups. This will allow Indian startups to pursue business opportunities in other countries and vice versa. It also is looking to draft its alumni members as mentors to nurture startup […]

San Francisco: Twitter employees are sceptical about their future after Elon Musk addressed them this week, saying they are doing their best to stay focused on work. The future of Twitter hangs in the balance and employees’ reaction after the virtual meeting with Musk was “mostly negative,” reports The Verge. Musk told Twitter employees that […]

New Delhi: As foreign portfolio investors continue to pull out money from the Indian equity market, the sell-off in the crypto market and the digital asset space has also accelerated in the wake of global economic meltdown. More than $200 billion were wiped off the entire cryptocurrency market this week and the globally crypto market […]

Hyderabad: Covid vaccine maker Bharat Biotech International Limited (BBIL), announced that its Covaxin (BBV152), has proven to be safe, well-tolerated, and highly immunogenic in paediatric subjects in phase II/III study. The study has been accepted and published in Lancet Infectious Diseases, a peer reviewed journal. Bharat Biotech had conducted phase II/III, open-label, and multi-centre study […]

Maranello: At an investor presentation, luxury carmaker Ferrari has announced that it will be 60 per cent electrified by 2026. The carmaker said that by 2026 Ferrari targets a well-diversified product portfolio, composed of 60 per cent hybrid and fully electric and 40 per cent ICE in terms of the number of models. “Our brand fuels […]

Mumbai: Equity indices opened the trade on a muted note on Friday, with the Sensex tanking 425 points in early trade, in line with weak global markets and concerns over unabated foreign capital outflows. The BSE benchmark was trading 425.11 points lower at 51,070.68. The Nifty dipped 125.7 points to 15,234.90. From the Sensex pack, […]

Hyderabad: Hyderabad headquartered technology solutions company Cyient on Thursday announced the appointment of Prabhakar Shetty as its chief digital officer. Shetty will lead digital strategies to expand the company’s digital technology footprint by scaling the services lines related to connected manufacturing, intelligent products, and platforms and strengthening IntelliCyient, its digital solutions suite. He joins Cyient […]

London: Apple is set to face another class-action lawsuit seeking damages worth $935 million in the UK over intentionally slowing down the performance of older iPhones to encourage customers to buy newer models. Consumer rights campaigner Justin Gutmann is filing the lawsuit in the Competition Appeal Tribunal in London, on behalf of up to 25 […]

Mumbai: The rupee strengthened by 15 paise to 78.07 against the US dollar in opening trade on Thursday after the US Federal Reserve hiked interest rate by 75 basis points and signalled more rate action to fight inflation. Besides, a firm trend in domestic equities and weak American dollar in the overseas market supported the […]

Mumbai: The Indian stock market soared higher on Thursday morning with the Sensex gaining over 500 points and the Nifty climbing around 150 points, amid positive global cues. The 30 stock S&P BSE Sensex rose by 548.17 points or 1.04 per cent to close at 53,089.56 points at 9.20 am. The broader Nifty 50 of […]

Hyderabad: Telangana’s startup ecosystem is now ranked among the top 10 global ecosystems and is ranked number four Asian ecosystem in affordable talent, a recent report said. The 2022 Global Startup Ecosystem Report (GSER) by Startup Genome, which was launched in London Tech Week this week, reported that Telangana-based startups are counted among the top […]

Hyderabad: Hyderabad-based health technology company BlueSemi will be representing India at VivaTech, which is Europe’s biggest annual innovation, startup, and tech event. The company will showcase its marquee product, Eyva, the world’s first non-invasive gadget that can measure six key body vitals including blood glucose, ECG, heart rate, blood pressure, SPo2, HbA1C in less than […]

New Delhi: The Income Tax Department has notified the cost inflation index for the current fiscal to calculate long-term capital gains arising from the sale of immovable property, securities and jewellery. The cost inflation index (CII) is used by a taxpayer to compute gains arising out of the sale of capital assets after adjusting for […]

Los Angeles: At a time when Wall Street doesn’t have much good news coming out of it, Goldman Sachs predicts a booming decade for the music industry, with total music revenue to double to about $131 billion by 2030, says ‘Variety’. The investment banking and financial services company’s annual ‘Music in the Air’ forecast predicts […]

San Francisco: Ford Motor has recalled nearly 49,000 Mustang Mach-E electric crossovers over battery safety concerns, and told dealers to temporarily halt selling the popular electric vehicle. The battery safety defect may render the vehicle immobile. The malfunction involves a potential overheating of the vehicle’s battery high-voltage contactors, which can lead the vehicle to fail to […]

New Delhi: The Union Cabinet on Wednesday approved the Telecom department’s proposal to conduct a spectrum auction through which spectrum will be assigned to the successful bidders for providing 5G services to public and enterprises. A total of 72097.85 MHz of spectrum with a validity period of 20 years will be put to auction to […]

New Delhi: Leading crypto exchange Coinbase has announced that it is laying off 18 per cent of its workforce, or about 1,100 jobs amid the economic downturn. Brian Armstrong, CEO and co-founder said that while the company tried its best to get this just right, in this case, it is now clear that it is over-hired. […]

Mumbai: The Indian stock market opened in green on Tuesday with less than 0.5 per cent slump in the key indices, Sensex and Nifty. The 30 stock S&P BSE Sensex rose by 43.76 per cent points or 0.08 per cent to close at 52,737.33 points at 9.17 am The broader Nifty 50 of the National […]

Hyderabad: Delayed payments are a challenge for MSMEs. Ketan Gaikwad, Managing Director and CEO, Receivables Exchange of India Limited (RXIL) explains to Telangana Today how TReDS platform improves cash flows of sellers or suppliers in the MSME segment. What is RXIL? RXIL is a joint venture between Small Industries Development Bank of India (SIDBI), the […]

Hyderabad: Leading importers and distributors of newsprint and paper Poddar Global Private Limited brought a chartered break bulk vessel M/V LADA carrying standard newsprint from Russia. This is to ease the tightening newsprint supplies to Indian newspapers, It arrived at Mumbai Port on June 5. It is the first time after 25 years Russia has […]