Prosus NV, an investor in educational startup Byjus, on Tuesday said the troubled company's reporting and governance structure did not evolve sufficiently for a company of that scale and it "regularly disregarded advice" despite repeated efforts by the Dutch-listed technology firm's former director. Prosus, which this year slashed its valuation of Byju's to $5.1 billion from $22 billion last year, said the decision for its director to step down from Byju's board last month was mainly because he was "unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders." In a statement, Prosus said Byju's grew considerably since its first investment in 2018.
China, the world's second largest auto market, will slash import taxes on cars and auto parts from July 1 to comply with Beijing's commitment to the World Trade Organisation.
A look at the XI Best Spells of the league stages of IPL 2024.
Amazon has increased the commission on non-core segments by 2-9 per cent.
Telecom operators slash call rates to quake-hit Nepal
Growing concerns over slower-than-expected margin recovery, amid weak deposit growth have caught HDFC Bank's investors off guard. HDFC Bank's stock on Wednesday plunged nearly 9 per cent to hit an intraday low of Rs 1,527 on the BSE after reporting weaker-than-expected earnings in the third quarter (October - December) of the current financial year (Q3FY24). The shares of India's biggest private lender closed at Rs 1,536.9, down 8.46 per cent.
The Reserve Bank on Thursday marginally revised upwards the economic growth projection for the current fiscal to 6.5 per cent, from its earlier estimate of 6.4 per cent. Unveiling the first bi-monthly monetary policy of 2023-24 fiscal, RBI Governor Shaktikanta Das said the GDP growth in the first quarter of 2023-24 is expected at 7.8 per cent.
Zomato-owned quick commerce firm Blinkit has permanently shut down some of its dark stores in Gurugram amid ongoing strikes by many of its delivery workers in the region. Blinkit informed its workers of the development through a notification - seen by Business Standard - on their delivery partner app which said that the stores are being closed because the partners have not been working at them for the past 3-4 days.
The rate, which has been reduced from 14.25 per cent, will benefit all existing home loan and auto loan customers, the bank said. Besides, the bank reduced it benchmark lending rate by half a percentage points to 16.75 per cent.
Automobile manufacturer General Motors on Wednesday cut the price of its vehicles by up to Rs 30,500, following the government reducing excise duty.
The outbreak of COVID-19 has adversely impacted the occupancy levels at hotels across 11 major cities, resulting in a decline of up to 29 per cent in revenue per available room (RevPAR) during January-March this year, according to JLL India. While occupancy level fell in a range of 5-17 percentage points, the RevPAR was down 13-29 per cent across 11 cities -- Ahmedabad, Bengaluru, Chennai, Delhi, Goa, Gurugram, Hyderabad, Jaipur, Mumbai, Pune and Kolkata.
The chief executive officer of an artificial intelligence start-up allegedly killed her four-year-old son at a service apartment in Goa and stuffed his body in a bag before taking it to neighbouring Karnataka in a taxi, the police said on Tuesday.
Lewis Hamilton won his home British Grand Prix for the fourth year in a row on Sunday while Ferrari's Sebastian Vettel suffered a penultimate lap puncture that slashed his championship lead to a single point.
'There is a bleak business outlook for trade and industry as government struggles to rev up economic growth and labour market.'
Not scoring quickly certainly became India's undoing.
The Governor said the MPC had voted to maintain its accommodative stance, implying more rate cuts in the future if the need arises.
They staged sit-in demonstrations in various localities blocking roads, demanding the removal of Assam Rifles from violence-hit areas and accusing the paramilitary force of "brutality during recent agitations".
The United Nations estimates about one third of the world's 1.2 billion poorest people live in India
Tata Steel has warned its suppliers that if they do not slash prices by up to 30 per cent in the long term then they risk losing the steel giant's business.
A cricket match involving India and Pakistan is not just about top-quality cricket, but it is also about roaring fans giving the stadium the atmosphere of a Roman colosseum.
India steamrollered Pakistan by seven wickets in a lopsided blockbuster match at a heaving Narendra Modi Stadium on Saturday to maintain their unblemished 50-overs World Cup record against their arch-rivals.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
India's biggest car maker Maruti Suzuki said on Tuesday that its vehicle production in September will tumble by 60 per cent due to chip shortage. The company, which had earlier cut down production at its Gujarat plant, said the chip shortage will hit production in Gurugram and Manesar plants, effectively forcing the automaker to cut production by 60 per cent. Owing to a supply constraint of electronic components due to semiconductor shortage, the company is expecting an adverse impact on vehicle production in September in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt Ltd. (SMG) in Gujarat.
The RBI had lowered policy rates by 0.50 per cent between January-March to prop up economic growth.
Prices of petrol were reduced 32 times and increased 21 times while diesel prices were slashed 19 times and raised 28 times since 2013.
Travelling abroad will be tougher for civil servants, with the Narendra Modi government further tightening the rules for foreign travel.
It offers fares as low as Rs 1,499 for a one-way journey.
Yashasvi Jaiswal manifested his abundant talent while Ruturaj Gaikwad and Ishan Kishan displayed their grace and power with sparkling fifties as India posted a massive 235 for four against Australia in the second T20I here on Sunday.
India defeated Sri Lanka by 19 runs in a low-scoring final to win the cricket gold medal in the Asian Games in Hangzhou on Monday.
Images from India's first T20I against Australia in Visakhapatnam on Thursday.
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Observing that the prime reason for these losses was high fuel cost which constituted almost 40-50 per cent of an airline's total costs, Civil Aviation Minister Ajit Singh said the aviation turbine fuel (ATF) prices were high due to rising base price and "very high VAT imposed by state governments."
'We want to make sustainability affordable.' 'We tell everyone, don't just recycle, Craste it!'
In 2018, Mr Chouhan became chief minister for the fourth time with some support from Mr Scindia. This time, nothing can be said with any certainty.
The three were gunned down while they were sleeping and later slashed with swords at Kwakta in the district, the police said on Saturday morning, adding that the assailants came from Churachandpur.
It's not uncommon for performers to become bigger than the stories they are placed in and Sreehari Nair would happily pay to watch Isha Talwar and Paramvir Singh Cheema riffing on love, bad life choices, psychology, rhythm, and oven-baked Kulchas in Chamak.
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
Travis Head smashed a brilliant 137 as Australia cruised to their sixth World title after outclassing India by six wickets in the final on Sunday.
