Xiaomi Corp is overhauling its India strategy after misjudging consumer tastes in mobile phones, a costly lapse that has allowed Samsung Electronics to pip the Chinese company to the top…
Category: Companies
‘Indian customers have higher-than-usual standards for customer service’: Agoda CEO Omri Morgenshtern
For digital travel platform, Agoda, part of Booking.com, India has been one of the most important markets in the APAC region and the brand has gradually grown its focus on…
US FDIC may need temporary guarantee for all bank deposits: Former chair Bair
The Federal Deposit Insurance Corp may need to seek temporary guarantees for all uninsured US bank deposits to stem a drain of funds from small and regional US lenders following…
Credit Suisse to borrow up to $54 bln as it seeks to calm investor fears
Credit Suisse on Thursday said it was taking “decisive action” to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its…
Mukesh Ambani’s Reliance Retail to get a major boost with addition of Metro Cash & Carry
Reliance Retail, the Mumbai-based Reliance Group’s consumer arm, is set to get a major bump in its business operations as the Competition Commission of India (CCI) approved its acquisition bid…
Vedanta repays $100 million to Standard Chartered Bank, pledged shares released
Vedanta Limited, controlled by billionaire Anil Agarwal, has repaid $100 million to Standard Chartered Bank via release of encumbrance on March 10, 2023. In a regulatory statement, the company said:…
‘Look back at 2008’: How will Silicon Valley Bank collapse impact Indian IT sector?
The collapse of the Silicon Valley Bank has added to the uncertainty faced by Indian IT companies, which were already facing headwinds due to the macroeconomic slowdown in the West. This…
GST wing of CBIC starts probe insurance companies
The GST wing of the Central Board of Indirect Taxes & Customs (CBIC) is investigating over a dozen insurance companies for allegedly claiming wrongful input tax credits of amount pegged at Rs 1000 crore. CBIC officials…
CCI approves Reliance’s acquisition of METRO Cash & Carry India; check details here
The Competition Commission of India (CCI) has approved Reliance Retail Venture’s (RRVL) acquisition of the food wholesaler METRO Cash & Carry India. RRVL is a subsidiary of the Mukesh Ambani-led…
India’s costliest penthouse! Bajaj Auto’s Niraj Bajaj buys house worth Rs 252.5 cr in Mumbai
In the country’s costliest penthouse deal yet, Bajaj Auto Chairman Niraj Bajaj has reportedly bought a sea-facing apartment in Mumbai’s Malabar Hill for a whopping Rs 252.5 crore. Before this,…