File photo (Picture credit: ANI) The Indian rupee’s slide past Rs 90 per US dollar for the first time ever has shifted sentiment in the equity market and raised fresh concerns for investors. The breach of this psychological level has come on the back of weak capital flows, steady demand for dollars from importers, and…
A cryptocurrency investor has made a donation of 9 million pounds ($12 million) to U.K. political party Reform, according to a filing by the Electoral Commission on Thursday. The donation by Christopher Harborne, a Thailand-based entrepreneur who has invested in stablecoin issuer Tether and crypto exchange Bitfinex, according to a Financial Times report, has been…
India’s central bank will allow the rupee to weaken as the country’s external position comes under strain from slowing dollar inflows, widening trade pressures and heavy foreign selling in domestic markets, according to sources cited by news agency Reuters. The Reserve Bank of India (RBI), which had been actively supporting the currency until last month…
NEW DELHI: Vietnamese auto company VinFast is doubling its India investments to Rs 9,000 crore ($1 billion) as the company — which has already started sales of electric cars — sets up an all-new factory for e-2Wheelers and buses.The company signed a MoU with the Tamil Nadu govt for a 500-acre land parcel in SIPCOT…
Continuing his japan tour, CM firms up investment worth Rs 500 crore on third day CHANDIGARH: Japanese steel giant Aichi Steel agreed to expand its collaboration with Vardhman Special Steels in Punjab, entailing an investment of Rs 500 crore, according to an official statement.Aichi Steel and Vardhman Special Steels signed an MoU in the presence…
BENGALURU: At India Blockchain Week in Bengaluru on Monday, Rahul Sanskrityayan, Specialist Consultant for Blockchain at NPCI, said the Reserve Bank of India’s programmable central bank digital currency (CBDC) is already live with participating banks and is being used by the government for targeted subsidy transfers.Sanskrityayan said programmable CBDC allows funds to be restricted for…
(Image credits: X @firesideventure) BENGALURU: Consumer focused venture capital firm Fireside Ventures has closed its fourth fund with commitments of Rs 2,265 crore (about $253 million), doubling down on early stage consumer brands as it chases the next wave of health, wellness and lifestyle companies in India. The new vehicle takes the firm’s total assets…
CNN reported that the acquisition follows an agreement reached in April, under which Prada committed to purchasing Versace for about $1.51 billion, a deal that materialised after Capri Holdings’ planned sale to Tapestry fell apart because of an antitrust challenge.Lorenzo Bertelli, the son of Prada founders Miuccia Prada and Patrizio Bertelli, is set to assume…
A dispatch rider passes in front empty building of the Lukoil headquarter in Sofia, Bulgaria (Picture credit: AP) The United States has temporarily lifted some restrictions on Lukoil-branded fuel stations operating outside Russia, allowing them to continue running despite sanctions placed on the parent company. The treasury department confirmed on Thursday that these stations —…
Check out the companies making the biggest moves midday: Meta Platforms — The Facebook and Instagram parent advanced 4%. Managers led by CEO Mark Zuckerberg are weighing cuts as deep as 30% in Meta’s “metaverse group” in 2026, Bloomberg reported. Kroger – The Cincinnati-based supermarket chain dropped 6.5% after third-quarter revenue lagged Street estimates, identical…
