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India’s current account deficit (CAD) is likely to widen sharply to 2.3 per cent of GDP in FY27 from 0.9 per cent in FY26 amid elevated oil prices and external sector pressures, according to a report by foreign brokerage HSBC, PTI reported.The report also projected the balance of payments (BoP) deficit to widen to $65…
BENGALURU: Urban Company’s push into instant domestic services dragged the company deeper into losses in the March quarter, as the home services platform ramped up spending to compete with fast-growing rivals such as Pronto and Snabbit in the emerging category.The Gurugram-based company reported a consolidated loss of Rs 161 crore for the March quarter, compared…
The Trump administration has intensified efforts to recoup about $1.6 trillion in tariff revenue lost after the Supreme Court struck down a range of the president’s import duties, with officials turning to new investigations and legal provisions to impose replacement levies, according to news agency AP report.Experts say recovering the revenue–which the White House had…
BENGALURU: From young professionals to experienced developers, techies are increasingly taking up freelance assignments to supplement incomes and build alternative career paths as the industry grapples with slowing hiring, rapid advances in AI, and growing uncertainty around traditional tech roles. For some, these gigs are side hustles alongside full-time jobs-reflecting a rise in moonlighting-while others…
NEW DELHI: Cabinet Tuesday approved a proposal to amend the Transgender Persons (Protection of Rights) Act, 2019, seeking to expand the definition of transgender persons in what is being cited as an attempt to make the law more “inclusive” so that all bona fide persons receive benefits and protection.There has been debate over the implementation…
BENGALURU: Uber’s India business posted total sales of Rs 3,849.2 crore in FY25, up 2.3% y-o-y, reflecting a sharp slowdown in growth even as losses widened significantly, according to consolidated financials accessed via Tofler.Operating loss surged to Rs 1,052.3 crore from Rs 84.8 crore in FY24, with operating margin deteriorating to -27.3% from -2.2%. Net…
Salil Parekh, CEO and MD, Infosys (File photo) New Delhi: Infosys CEO Salil Parekh suggested that stock market investors may be misreading the impact of AI tools from companies like Anthropic, arguing that rather than shrinking opportunities for IT services firms, such technologies are likely to expand and reshape the demand for their capabilities. He…
MUMBAI: RBI has revised its priority sector lending norms allowing lending to the National Cooperative Development Corporation to qualify as priority sector loans, with the objective of expanding credit to cooperative societies while tightening compliance and reporting requirements for banks.The revised Master Directions on Priority Sector Lending recognise loans extended by banks to the National…
The Union Budget has a unique opportunity to place retirement security firmly at the center of India’s economic agenda. (AI image) By Sriram IyerAs India aspires to become a developed economy by 2047, one of the most critical yet under-discussed pillars is retirement security. Despite rapid financialisation of household savings, India’s pension assets stand at…
As the pool of skilled tradespeople continues to shrink in the US, Walmart is moving to strengthen its in-house workforce to keep its vast operations running — from conveyor belts and refrigeration systems to electrical networks and basic infrastructure at stores and distribution centres, AP reported.The world’s largest retailer and biggest private employer has revamped…
