New York: In America, a recession is officially determined by eight economists who deliberate in private. But a recession is commonly defined by analysts as two consecutive negative quarters of gross domestic product growth, CNN reported. Real GDP shrank in the first quarter of 2022, but monthly data suggests there may have been solid growth...
Mumbai: The rupee fell by 41 paise to close at a fresh lifetime low of 79.36 (provisional) against the US dollar on Tuesday amid a strong greenback overseas and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 79.04 against the greenback and witnessed an intra-day high of 79.02 and...
New Delhi: The Indian government has said that all Internet intermediaries and social media platforms have to comply with the law of the land, after Twitter moved the Karnataka High Court against its order to take down some content on its platform. Minister of State for Electronics and IT Rajeev Chandrasekhar said in a tweet...
Mumbai: Pallonji Mistry, the Indian-born billionaire whose engineering empire built luxury hotels, stadiums, palaces and factories across Asia and whose family’s epic showdown with the Tata Group sparked India’s biggest corporate feud, has passed away in Mumbai. He was 93. Mistry and his family control the Shapoorji Pallonji Group, which started more than 150 years...
Mumbai: The rupee depreciated 18 paise to close at a record low of 79.03 (provisional) against the US dollar on Wednesday, weighed down by persistent foreign capital outflows, a strong dollar overseas and surge in crude oil prices. At the interbank foreign exchange market, the rupee opened lower at 78.86 against the greenback and finally settled...
Mumbai: Mukesh Ambani's son, Akash Ambani, was named chairman of the board at Reliance Jio this week, signalling a transition in leadership for one of the world's wealthiest business families. Akash Ambani, 30, previously a non-executive director at Reliance Jio Infocomm Ltd., was appointed chairman a day after his father resigned, the company said in...
Hyderabad-based business incubator organisation, Technology Hub (T-Hub) announced the inauguration of the world’s largest innovation campus for start-ups in Hyderabad. Built in a T-shape, spanning 10 floors and spread over an area of 5,82,689 sq. ft, making it the world’s largest innovation campus, the organisation aims to support over 20,000 start-ups across the country. Furthermore, the newly...
Indian industrial magnate Gautam Adani and his family have pledged to donate 600 billion rupees ($7.7 billion) as the businessman turns 60 on Friday. Adani is Asia's richest person with a net worth of $92.7 billion according to the Bloomberg Billionaires Index. This translates the donation to about 8% of his net worth. The billionaire is the founder...
Chennai: With the US-based Ford Motor Company deciding to shutdown its Maraimalainagar car plant near here, many employees/workers of Ford group in India are on the lookout for jobs. "With Ford deciding to shut down its Maraimalainagar plant, workers may be on the look out for a job," a Ford India Private Ltd worker told...
