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Nearly 6% of contract workers lost jobs in March qtr in Indian IT sector

The $194-billion sector whose software services helped businesses adopt pandemic-era practices of online shopping and remote working is facing a slowdown this year as employees return to offices

Varroc Engineering swings to profit on strong demand in March quarter

Revenue from operations rose nearly 2.3% to 16.90 billion rupees, outpacing expenses, which grew 0.8%

Palm oil import in May to hit 27-mnth low, traders switch to soy, sunflower

The surprising drop in palm oil imports by India, the world's biggest importer of vegetable oils, could bring down palm oil prices

Int'l securities watchdog proposes global rules for crypto sector

The moves come after crypto exchange FTX began US bankruptcy proceedings last November following a liquidity crisis that prompted intervention from regulators worldwide

Taiwan excluded from WHO annual assembly following Chinese opposition

The assembly on Monday decided not to extend Taiwan an invitation to the event which runs from May 21 to 30

Debt call with McCarthy 'went well', will talk again today: Joe Biden

"It went well," the president told reporters as he arrived back at the White House after a three-day meeting with G7 leaders in Japan. "We'll talk tomorrow"

Wheat procurement to fall below estimate by 20% as govt purchases slowed

Lower than expected purchases by the world's second biggest wheat producer could limit New Delhi's ability to intervene in the market to calm prices, which hit a record high earlier this year

JPMorgan sees $3 bn net interest income boost from First Republic deal

JP Morgan agreed to take into its books $173 bn of the failed bank's loans, $30 billion of securities and $92 billion of deposits after First Republic was shuttered by authorities earlier this month

RBI bought $750 million on net basis from spot forex market in March

The Reserve Bank of India (RBI) bought $750 million on a net basis in the spot foreign exchange market in March, data released on Monday as part of the central bank's monthly bulletin showed

Rupee falls 0.2% hits 13-week low, weighed down by strength in dollar

Indian rupee hit a 13-week low, weighed down by broad strength in the dollar, while markets looked for developments on the U.S. debt ceiling and trajectory of rate hikes in the world's largest economy

PhonePe raises additional $100 million from PE firm General Atlantic

Walmart Inc-owned payments firm PhonePe said that it has secured an additional $100 million from private equity firm General Atlantic, in the latest round of its ongoing $1 billion fundraising

Economy likely to see downside risks to growth, upside risks to inflation

Economy is likely to see downside risks to growth and upside risks to inflation, partly due to challenges in country's external sector as well as weather-related uncertainties, finance ministry said

Indian rupee poised to weaken after central bank pulls 2,000-rupee notes

The Indian rupee is expected to open weaker against the US dollar after the central bank said it will withdraw the highest-value currency note from circulation

Sebi proposes curbs on extreame price movements in derivative-linked shared

India's market regulator proposed measures to contain extreme price movements in shares on which futures and options trade, including longer trading suspensions and restricting price movements

Market regulator proposes halving IPO listing time on stock exchanges

India's market regulator proposed halving the time needed to list shares on the nation's stock exchanges from the closure of initial public offerings (IPOs) to three days.

Here's what RBI's decision to scrap the Rs 2,000 note mean for the economy

"It will not create any big disruption, as the notes of smaller quantity are available in sufficient quantity but small businesses and cash-oriented sectors could see inconvenience in the near term"

Republican negotiators walk out of debt talks, say White House unreasonable

"Unless they (WH) are willing to have reasonable conversations about how you can actually move forward and do the right thing, we're not going to sit here and talk to ourselves"

G7 tightens Russia sanctions, looks to cut China trade reliance

G7 leaders, who will be joined this weekend by Ukraine's President Volodymyr Zelenskiy, vowed to restrict any exports to Russia that could help it in its 15-month war against Ukraine

Dalmia Bharat Sugar doubles profit on higher sales in March quarter

Sugar production, however, slowed, hurt by lower output from the western state of Maharashtra, the country's top producer of the sweetener

Govt plans action against Google after antitrust breaches: Chandrasekhar

The minister declined to specify what sort of policy or regulatory action the government could take