Srini Pallia, CEO & MD, Wipro Bengaluru: Wipro struck a cautious note on near-term demand after reporting a modest June-quarter performance compared with its larger peers, saying clients continue to prioritise AI investments while remaining selective on discretionary spending.For the quarter ended June, Wipro’s IT services revenue stood at $2.6 billion, down 1.4% sequentially but…
NEW DELHI: In a major boost for India’s semiconductor startup policy, govt is redesigning its support framework under Semicon 2.0 and intends to move away from one-time grants to a model of larger, milestone-linked funding coupled with equity investments, alongside venture capital (VC) firms.On Wednesday, the cabinet approved Semicon 2.0 with an outlay of Rs…
Representative image (File photo) MUMBAI: RBI has barred defaulting borrowers from buying back properties acquired by lenders to satisfy a defaulter’s debt, tightening norms for resolution of stressed accounts under its new directions effective Oct 1, 2026.Defaulters and their related parties, as defined under the Insolvency and Bankruptcy Code, 2016, cannot repurchase such assets from…
The Union Cabinet has approved amendments to the MSME Development Act to improve liquidity, strengthen the Udyam portal, decriminalise minor offences, and speed up payment resolution for small businesses. (Representative image) NEW DELHI: The Centre is planning to use new tools to enhance liquidity for micro, small and medium enterprises (MSMEs) and will move amendments…
NEW DELHI: Rising fuel prices and increased consumer interest in electric mobility have prompted JSW MG Motor India to double down on its new-energy vehicle strategy. Managing director Anurag Mehrotra said passenger vehicle EV penetration, which had slipped below 4% at the start of 2026, crossed 8% in June as higher fuel costs and growing…
Uber agreed on Thursday to buy Germany’s Delivery Hero at an equity value of $14.8 billion to create the largest food-delivery group outside China and stave off intensifying competition from US and European rivals.The acquisition advances the US ride-hailing firm’s efforts to build a global food-delivery business that can better compete with Just Eat, owned…
NEW DELHI: Carmakers may soon have a new way to meet India’s fuel efficiency norms without relying solely on electrification, with the Centre proposing to reward a range of fuel-saving technologies under the draft Corporate Average Fuel Economy (CAFE)-III regulations.The draft norms, released by the power ministry for stakeholder consultation, have proposed to allow manufacturers…
Representative image (IANS photo) India’s corporate earnings season for the April-June quarter, underway since last week, gathers pace through July, with Reliance Industries reporting on Friday and HDFC Bank, ICICI Bank and Kotak Mahindra Bank following on Saturday.Results so far show a mixed pattern. Profits have grown consistently, but some companies have missed analyst estimates.Corporate…
India’s first hydrogen-powered train is ready for launch! Marking a major milestone for Indian Railways, the country’s first hydrogen will be flagged off by Prime Minister Narendra Modi on July 17. This is the first time that India is introducing a train that produces its own electricity onboard using hydrogen, which is widely regarded as…
NEW DELHI: India is aiming to get 10 crore foreign tourist arrivals (FTAs) by 2047, which will contribute 10% to the country’s theme expected GDP of $30 trillion. This is the aim set by Federation of Associations in Indian Tourism and Hospitality (FAITH), the apex policy body of India’s tourism sector. FAITH chairman Puneet Chhatwal…
ITC Hotels MD Anil Chadha NEW DELHI: ITC Hotels’ Thursday reported a 14.8% increase in consolidated revenue at Rs 936 crore this April-June, compared to Rs 816 crore in same period last fiscal. And the hospitality major’s profit rose 36% to Rs 180 crore, up from Rs 133 crore last Q1. The company’s share closed…
During FY2025-26, India’s imports from China reached nearly $132 billion. (PTI photo) Aiming to reduce dependence on imports and overseas supplies, India is looking to give a fresh push to its domestic manufacturing plans. The government is preparing to strengthen domestic manufacturing for products which currently account for imports worth $51 billion, according to sources…
US stocks today: Shares of computer chip manufacturers and other companies that have benefited from the artificial intelligence boom came under renewed selling pressure on Thursday, dragging equity markets lower across the world. At the same time, oil prices continued to move higher amid the ongoing conflict with Iran.The S&P 500 declined 0.4%, a day…
Experts note that the lack of adequate skills is not altogether the problem – it’s the job market. H-1B visa holders returning to India due to layoffs or uncertainties pertaining to the Donald Trump administration’s immigration policies and tighter visa guidelines are facing a harsh reality – jobs back home are not readily available.US technology…
The bigger strategic shift lies in the agreement’s architecture. (AI image) By Agneshwar Sen, Trade Policy Leader, EY IndiaTrade agreements are usually sold through arithmetic: how many tariff lines fall, how much trade may rise, which sector wins and which sector complains. The India-UK Comprehensive Economic and Trade Agreement (CETA), along with the Double Contribution…
At the global level, Russian crude has served as a stabilising factor for the oil market. (Representative image) Is India facing 100% tariffs from the US for its Russian oil imports? A bipartisan group of US senators on Tuesday introduced a revised bill proposing 100% tariffs on five countries, including India and China, for continuing…
Stock market today: Nifty seen opening steady as Fed rate-cut hopes, DII buying support sentiment Indian equity markets are expected to open on a steady note on Wednesday, with Gift Nifty trading around 24,085, up 43 points, indicating a mildly positive start for benchmark indices. While global market cues remain mixed, investors will continue to…
NEW DELHI: India’s refurbished smartphones and laptops market is set to significantly outperform the market for new devices this year as soaring memory costs push up prices and drive more consumers towards certified pre-owned alternatives. The trend is also prompting leading brands to strengthen their official refurbished programmes, signalling that the secondary market is becoming…
NEW DELHI: The Union cabinet on Wednesday approved two schemes, with govt support of Rs 1.9 lakh crore, aimed at taking India’s electronics manufacturing ambitions beyond assembly lines into semiconductor fabrication, advanced packaging, materials and homegrown mobile phone brands.The Cabinet cleared Semicon 2.0 with an outlay of Rs 1,27,500 crore and the Mobile Phone Manufacturing…
File photo: Workers wait for customers at a souvenir store as foreign tourists walk by Wangfujing shopping street in Beijing China’s economy slowed more than expected last quarter to the weakest in more than three years, raising pressure on policymakers to speed up public spending to ensure their annual growth goal is met.Gross domestic product…
