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Business
Krutrim becomes India's 1st AI unicorn with latest funding
27 Jan 2024 12:25 PM IST
New Delhi, Jan 26: Homegrown AI company Krutrim on Friday became the country's fastest unicorn and also the first AI unicorn in the country, after it closed its first round of funding. The funding round, led by investors such as Matrix Partners India and others, garnered an investment of $50...
Business
Canada 'disappointed' at UK's decision to pause free trade talks
27 Jan 2024 12:19 PM IST
Ottawa, Jan 26: Canadian Trade Minister Mary Ng has expressed disappointment over the UK's decision to pause the bilateral free trade talks. Talking to reporters, Ng said she is "very confident" that the two sides will get back to the table, Xinhua news agency reported. "I would encourage my...
Business
Tata partners Airbus to make helicopters as India, France cement ties
27 Jan 2024 12:18 PM IST
New Delhi, Jan 26: The Tata Group and France's Airbus have signed an agreement to manufacture H125 helicopters "with a significant indigenous component" as part of the growing defence industrial partnership between the two countries, Foreign Secretary Vinay Kwatra said on Friday. Prime Minister...
Business
Tata Steel bounces back into profit in Q3 despite challenges in Europe ops
25 Jan 2024 11:39 AM IST
Mumbai, Jan 24 ( Tata Steel on Wednesday bounced back with a consolidated net profit of Rs 522.14 crore in the Oct-Dec quarter of the current financial year from a massive Rs 2,501.95 crore loss in the same quarter of the previous fiscal, as a strong domestic demand offset the losses that the...
Business
Finance Minister kicks off Interim Budget 2024 process with halwa ceremony in...
25 Jan 2024 11:38 AM IST
New Delhi, Jan 24: The Halwa ceremony, marking the final stage of the preparation process for Interim Union Budget 2024, was held in North Block on Wednesday in the presence of Finance Minister Nirmala Sitharaman and Minister of State for Finance Dr. Bhagwat Kisanrao Karad. The customary Halwa...
Business
DIAL moves Delhi HC against Centre's decision to permit commercial flight...
25 Jan 2024 11:37 AM IST
New Delhi, Jan 24: The Delhi International Airport Limited (DIAL) on Wednesday filed a petition before the Delhi High Court challenging the Civil Aviation Ministry's decision to permit the Airports Authority of India (AAI) to start scheduled commercial flight operations at Hindon Airforce Station in...
Business
Cloud software major SAP's restructuring plan to affect 8,000 jobs
25 Jan 2024 11:36 AM IST
New Delhi, Jan 25: Cloud software major SAP has announced a company-wide restructuring programme in 2024 that will affect approximately 8,000 positions. The majority of the approximately 8,000 affected positions is expected to be covered by voluntary leave programmes and internal re-skilling...
Business
Freshworks entered a red ocean market by choice: CEO Girish Mathrubootham
25 Jan 2024 11:35 AM IST
New Delhi, Jan 25: Despite the funding winter induced by tightening global monetary environment, Indian startups saw $8.4 billion of capital pour into them in 2023. Over the last couple of years, Indian startups have embraced the new normal of having to improve unit economics, shorten their path to...
Business
Lava International’s subsidiary Sojo gets approval for PLI in IT hardware
24 Jan 2024 12:38 PM IST
New Delhi, Jan 24: Sojo Manufacturing Services (AP) Pvt Ltd, a subsidiary of homegrown company Lava International, on Wednesday said its application for the production-linked incentive (PLI) scheme for IT hardware has been approved by the government. Sojo aims to manufacture consumer electronic...
Business
Mumbai Airport notches 35% growth in passenger traffic in 2023
24 Jan 2024 12:36 PM IST
Mumbai, Jan 23: Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA) recorded a steep 35 percent growth in passenger traffic in 2023 over the previous year, officials said here on Tuesday. Last year, the CSMIA notched a total of 51.58 million passengers, comprising more than 25.4...
Business
India's direct tax collections leap 160% over 9 years
24 Jan 2024 12:35 PM IST
New Delhi, Jan 23: The country’s net direct tax collections have increased by 160.52 per cent from Rs 6,38,596 crore in 2013-14 to Rs 16,63,686 crore in 2022-23, according to consolidated time-series data released by the Central Board of Direct Taxes (CBDT) on Tuesday. The gross direct tax...
Business
India’s ACME Group inks pact to supply green ammonia to Japan’s IHI Corporation
24 Jan 2024 12:34 PM IST
New Delhi, Jan 23: ACME Group, a leading renewable energy company in India, and IHI Corporation, a Japanese integrated heavy industry group, have signed an offtake term sheet for supply of green ammonia from India to Japan. The term sheet between IHI and Acme covers the supply of 0.4 MMTPA...
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