scorecardresearch
Saturday, May 11, 2024
HomeEconomy

Economy

Rupee becomes Asia’s worst performer, poses risk to bond investors

A sharp drop in the rupee may wipe out most profits for offshore investors as they don’t usually hedge currency risk for short-term debt investments.

Indian call centre Uniphore Software raises $51 million, moves closer to automation

Uniphore Software Systems Pvt, based in Chennai & Palo Alto, aims to use AI to change the business of call centers by displacing workers with machines.

Amazon close to acquiring 10% stake in Future Retail, which runs Big Bazaar chain

Amazon's deal with Future Retail will enable it to tap into India’s rising demand for household products and home-delivered fresh produce.

Car sales in India drop to record low as economic slowdown worsens

Weak sales are forcing manufacturers to cut production or shut factories, leading to at least 15,000 job losses in the industry so far.

Indian security firm with drones aims to triple revenue to $3 billion

SIS is banking on rising urbanisation, increasing demand for protection from crime and terrorism, as well as a jump in completed new buildings.

India’s first overseas debt bond sale is failing

India’s first planned foray into the overseas bond market may be stillborn due to its historical aversion to borrowing in foreign currencies.

RBI’s unusual rate cut adds uncertainty to economists dealing with India’s dodgy data

Departure from conventional moves – multiples of 25 bps – leaves door open for more surprises as RBI has history of catching investors on wrong foot.

Mukesh Ambani looks to slash $22 billion of Reliance debt with Aramco, BP deals

Mukesh Ambani told shareholders that Reliance Industries aims to be a zero-net-debt company in 18 months.

Facebook among companies participating in funding round for Indian startup Meesho

The funding round was led by South Africa’s Naspers Ltd. and also included Sequoia, Shunwei Capital, Venture Highway and Arun Sarin, the former CEO of Vodafone.

Modi says liquidity in global markets gives India chance to access funds cheaper: Report

PM Modi, in an interview to The Economic Times, said India needs funds for its infrastructure, clarifying his govt’s intent on going ahead with its foreign bonds sale.

On Camera

RBI didn’t do heavy lifting under Subbarao. And Finance Ministry didn’t undermine the Governor

In my view as the finance secretary during UPA II govt, the least RBI could have done was not to further depress the sentiment with doomsday prophecies.

Day after mass sick leave by employees, Air India Express fires crew members, cancels 85 more flights

About 300 employees had called in sick Wednesday, allegedly in protest against mismanagement of airlines. Remaining staff given ultimatum to rejoin work by end of Thursday.

Pensionless Maha Vir Chakra awardee who trained Mukti Bahini continues to fight for rights

Chiman Singh, injured in 1971 India-Pakistan war, was discharged as non-pensioner in 1972. In his petition, he states denial of pension is contrary to settled law.

What’s common between Netflix Chamkila and Trudeau’s trouble-infested Canada? They don’t get Punjab

Even in the weeks leading up to Chamkila’s assassination there were massacres every other day. To airbrush all of this is sheer intellectual cowardice if not a crime.