MUMBAI: Amazon India, a late entrant to the quick commerce space, is speeding up expansion of its 10-minute delivery service after rivals Zepto and Swiggy’s Instamart (they are bigger in terms of quick commerce growth, share and reach) lined up new funding to grow market share in the cash-guzzling sector. In Oct, Zepto bagged $450…
Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Tether is back in the spotlight as traders revisit a familiar question:…
NEW DELHI: Union finance minister Nirmala Sitharaman on Monday said her ministry does not issue advisory or directions to LIC regarding its investment decisions, and emphasised that the investments that the state-owned insurer made in Adani Group were as per established SOPs.India’s largest insurer has, over the years, made investment decisions across companies based on…
NEW DELHI: The deep differences in the Indian car industry over proposed relaxations in CO2 emissions limits in the new CAFE norms, which are to kick in from April 2027, are out in open with Maruti Suzuki, seen to be a major gainer, accusing “makers of some large gas guzzlers” of spreading “false narratives… (and)…
MUMBAI: India’s current account deficit narrowed to $ 12.3 billion, or 1.3% of GDP, in the Sept quarter, improving sharply from $20.8 billion, or 2.2% of GDP, a year earlier. The deficit, however, deteriorated quarter-on-quarter from $2.4 billion, or 0.2% of GDP, recorded in the June quarter. For the first half of FY26, the gap…
With former Bangladesh PM Khaleda Zia reported to be in a very critical condition, PM Narendra Modi expressed concerns about her failing health and offered all possible assistance to her. Modi’s gesture is significant as Zia has had a troubled past with India in contrast to her rival Sheikh Hasina’s warm and friendly ties with…
MUMBAI: The price of silver futures on Multi Commodity Exchange (MCX) touched a record high level at close to Rs 1.8 lakh/kg on Monday after global prices hit an all-time high at $58.5/ounce early in the day. The weakness of the rupee further to near the Rs 90/$ mark, also helped the rally in the…
NEW DELHI: Diesel sales jumped to six-month high in Nov as the cut in GST (goods and services tax) rates boosted festive season demand, leading to increased industrial and commercial activities, industry data showed on Monday.Diesel consumption, an indicator of economic activities, rose 4.7% to 8.5 million tonnes during the month, posting the highest gain…
An overnight crash in the price of bitcoin combined with a difficult to digest capital raise to send Strategy (MSTR) shares tumbling 12.5% to their weakest level in nearly 15 months in U.S. morning trading on Monday. And yet, despite no bounce in the price of bitcoin BTC$86,452.68 — which remained near session lows of about…
NEW DELHI: Goods and services tax (GST) collection growth moderated in Nov, following a massive overhaul of the structure, including rate reduction on 375 items, although govt asserted that it had helped boost consumption and the mop-up trends were in line with its estimate.During Nov, based on transactions in Oct, collections (excluding cess) went up…
