Mumbai: The Bombay Stock Exchange (BSE) benchmark Sensex's 1,628 point crash wiped out Rs 4.59 lakh crore from investors' wealth in a single day. It was the biggest single-day plunge for both the Sensex and NSE index Nifty in 19 months. While the Sensex tanked by 1,628 points to end the day at 71,500.76, Nifty...
New Delhi: Life Insurance Corporation of India (LIC) broke a new record on the stock market this week as the share price of the company touched ₹900 for the first time. It is the level which has not been witnessed by the public insurer since its listing in May 2022. With its share price at Rs...
First Solar, the largest solar panel maker in the US, on January 11, 2024 announced that it has broken ground on India’s first fully vertically integrated solar plant. The factory, which is in the south Indian state of Tamil Nadu, has an annual nameplate capacity of 3.3 gigawatts (GW) and directly employs around 1,000 people. It will produce...
Intro: 2023 has been a pivotal year for technology, where generative artificial intelligence (GenAI) firmly established itself, initiating an era where it’s no longer a futuristic concept but a tangible, integral reality. With the surge in AI also came government regulations on Big Tech. Artificial intelligence becomes a reality 2023 was an incredible year for artificial intelligence,...
Intro: At the beginning of this year, many economists predicted a mild recession in the US, a deeper one in Europe, and a robust rebound in China. There was no recession in the US, Europe managed well and China is struggling to regain its footing. Meanwhile, The Indian economy is expected to grow 7.3 per...
Canada-based global asset management firm Brookfield Asset Management is set to acquire American Tower's operations in India for a reported $2.5 billion, making it the largest operator of telecom towers in the country, surpassing Indus Towers, reported news agency Reuters. The deal, one of the largest telecom infrastructure deals in the country, marks American Tower's exit from the...
New Delhi: India’s foreign exchange reserves increased by $9 billion to $615 billion in the week ending December 15, said the Reserve Bank of India. India's foreign exchange reserves increased by $9.112 billion to $615.971 billion in the week ending December 15, 2023. This increase is one of the highest for a week and marks...
New Delhi: India’s economic growth rate is expected to remain strong, supported by macroeconomic and financial stability, according to an International Monetary Fund (IMF) assessment report. “Going forward, the country’s foundational digital public infrastructure and a strong government infrastructure program will continue to sustain growth. India has potential for even higher growth, with greater contributions...
New Delhi: The inward remittances to India in 2023 increased by 12.3 per cent to $125 billion from 111.22 billion in 2022, according to the latest data released by the World Bank. India's inward remittances now account for 3.4 per cent of the country’s gross domestic product (GDP). The World Bank’s "Migration and Development Brief", released...
