Page 5 - Bloomberg

RBI steps up intervention to support rupee amid higher oil prices

In one instance, the RBI spent $7 billion in just a day intervening in onshore and offshore markets as the rupee approached a record low

High-frequency trading firms paying interns about ₹30 lakh a month

Local HFT companies are also expanding into asset classes beyond Indian equity derivatives and overseas markets, further boosting demand for talent.

Indian refiners widen oil search as Ukrainian attacks hurt Russian flows

Given the pressure on Moscow's crude exports, processors have been seeking alternative barrels from regions including West Africa and even the Americas

Indians invest record funds in overseas stocks, debt in June

Mutual funds investing overseas through the fund-of-funds route also held assets worth 465.5 billion rupees ($4.9 billion) as of July 31

Meta to pay up to $16.7 billion to settle social media addiction cases

The deal requires Meta to put new guardrails on its platforms, including restricting how much time youths can scroll and preventing them from switching off certain safety settings

Prudential to sell 2% in India asset manager to meet regulatory threshold

Prudential Corporation Holdings Ltd., a subsidiary of the UK-based insurer, will offload 9.9 million shares in ICICI Prudential Asset Management Co. on Aug. 27

Adani Group-backed Cemindia reportedly close to $524 million share sale

The company's board on July 23 approved raising as much as 50 billion rupees through the issuance of equity shares via a qualified institutional placement.

L&T wins 13 orders since July, signalling revival in West Asia business

While the engineering giant only shares a range instead of giving out the exact order value, a Bloomberg News estimate pegs the average at about ₹1.11 trillion in the ongoing quarter

Pakistan's former PM Imran Khan's sons say his life at risk in prison

Kasim and his brother Sulaiman Isa also urged the international community to pressure Pakistan for human rights violations against its former premier

Hyundai Motor plans 100 new, fresh models with focus on US hybrid push

The plan, launched at Hyundai's CEO Investor Day in Seoul on Wednesday, will see South Korea's biggest automaker enter 18 new segments

Indian rice exporters see Iranian demand defying US sanctions risk

Rice dominates trade between the two countries, accounting for nearly two-thirds of India's $1.25 billion in exports to Iran in the fiscal year-ended March

PM Takaichi says Japan will 'protect' ICC from US push to dismantle

The sanctioning of Akane and a senior trial lawyer by the US marks the latest escalation of attacks on the court by Washington, which says the ICC has unfairly targeted the US and Israel

Trump admin weighs more trade penalties against Canada after retaliation

Trump and Carney were close to a possible deal, but talks broke down late Friday, and 50% tariffs on about $20 billion in Canadian goods came into effect just after midnight

AI can lower price of IT projects by up to 25%, says Hexaware CEO

As AI helps to improve efficiency, customers could demand 20%-25% lower fees for some of the work Hexaware accomplishes currently, CEO Srikrishna Ramakarthikeyan said

US Supreme Court sides with Donald Trump for now on mail ballot curbs

Over dissents from the court's three liberals, the justices on Monday put on hold a Boston federal court ruling that blocked key parts of Trump's executive order from being fully implemented.

Bitcoin tops $80,000 as optimistic mood returns to crypto market

Bitcoin crosses $80,000 as ETF inflows, weaker dollar and renewed crypto optimism fuel a sharp rebound, while falling crude prices lift Indian equities

Data centre firm AM Intelligence orders 9,000 Nvidia Vera Rubin systems

AM Intelligence, part of the group that owns renewable energy producer Greenko Group Plc, has placed a binding order under its broader $8-billion plan to set up 1-gigawatt of computing capacity

China's data centres to consume more power than South Korea by 2030

Rapid growth in artificial intelligence workloads will see data centres use 774 terawatt-hours of electricity by 2030, around 6 per cent of China's total projected consumption, according to a report

Australia teens return to TikTok 8 months after under-16 social media ban

Some 26% of children between the ages of 13 and 15 were on TikTok as of last month, just one percentage point below the rate prior to Australia's groundbreaking rules coming into effect

Dozens of Chinese, Hong Kong firms hit by Trump admin's Iran sanctions

US Treasury Dept unveiled a package targeting dozens of individuals and entities as part of what Treasury Secy Scott Bessent described as Operation Economic Outcast