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MUMBAI: The World Bank and IMF, in their latest Financial Sector Assessment Program (FSAP) reports on India, said the country’s financial system has become more resilient, diversified, and inclusive since the previous assessment in 2017. The World Bank released its Financial Sector Assessment (FSA) report on Oct 30 while the IMF published its Financial System…
Elon Musk responded in kind to Tesla Inc investors approving his $1 trillion compensation package, making a series of extravagant predictions about what the company will be capable of in the years to come.Tesla’s humanoid robot will progress from simple tasks, like handing out bags of candy, to performing surgery with “beyond human” levels of…
BENGALURU: Britannia Industries is gearing up for a “lull before the storm”, as described by executive vice chairman and MD Varun Berry, ahead of a renewed push for volume-led growth amid stabilising GST rates and improving demand. The company expects growth to accelerate from the Dec quarter, with Berry indicating that organised players like Britannia…
CHENNAI: The recent GST rate rationalisation has not only resulted in a drop in the prices of commercial vehicles but also eased the long-standing pressure on original equipment manufacturers (OEMs) to offer steep discounts in India’s highly price-sensitive and fiercely competitive truck market.Before the GST revision, medium and heavy commercial vehicles (M&HCVs) priced around Rs…
NEW DELHI: Weight-loss therapy drug Eli Lilly’s Mounjaro has become the top selling brand in the domestic pharma retail market with sales of nearly Rs 100 crore in Oct, indicating the huge popularity of such treatments across India. Mounjaro has overtaken GSK’s widely prescribed antibiotic and long-established market leader, Augmentin, which totalled sales of Rs…
MUMBAI: The Rs 6,632-crore IPO for online financial services platform Groww was subscribed 17.6 times at close on Friday, with institutional investors leading the bidding. However, with the stock market witnessing sharp volatility, the grey market premium (GMP), the mark-up over the upper band of the offer price in the unofficial market for stocks, fell…
Mumbai: The board of Swiggy on Friday cleared the company’s plan to raise up to Rs 10,000 crore through a qualified institutional placement (QIP), the firm said in an exchange filing. The move follows rival Zepto’s $450 million (close to Rs 4,000 crore) funding which has stoked competition in the growing 10-minute delivery space as…
AUCKLAND: The fourth round of the India-New Zealand FTA talks was focused on goods market access, services, economic and technical cooperation, and investment opportunities, and both countries have vowed to wrap up a deal soon.“We look forward to working towards the early conclusion of a balanced, comprehensive and mutually beneficial agreement, in line with the…
MUMBAI: RBI deputy governor T Rabi Sankar said the fight against digital fraud is far from over, noting that the decline seen earlier this year reversed in July, with cases rising again.He said fraud levels had been falling since the start of the year before showing an uptick mid-year, suggesting that such trends may be…
Tesla CEO Elon Musk celebrated shareholder approval of his record-breaking $1 trillion compensation package with a flurry of ambitious promises, from humanoid robots performing surgery to building vehicles for missions to the Moon and Mars.The vote, which saw over 75% of investors back the deal, clears the path for Musk to expand his stake in…
