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HDFC Bank to sell 2% stake in NSDL IPO; IDBI Bank to sell 22.2 mn shares

In its draft red herring prospectus (DRHP) dated July 7, the depository said the IPO will see sales of 57.3 million shares by its six shareholders

AI4Bharat researchers set to raise $12 mn from Peak XV, Lightspeed: Report

The larger-than-usual seed funding round underscores the growing interest in generative AI, after OpenAI's ChatGPT dazzled users with its ability to engage in human-like conversations

'Refer & earn': EV maker Tesla rolls out global incentives to boost sales

Automakers have historically used employee and loyalty discounts to lower the sticker price

India's fuel demand slips by 3.7% in June as monsoon restricts mobility

Consumption of fuel, a proxy for oil demand, totaled 19.31 million tonnes in June, down from 20.06 million tonnes in May, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry

US job growth slows in June and unemployment rate declines to 3.6%

There was also a jump in the number of people working part-time for economic reasons last month, in part because their hours had been reduced due to work slack or business conditions

HDFC Bank to replace HDFC Ltd on MSCI Global indexes from July 13

Still, HDFC Bank's shares are up 2% so far this year, while HDFC's shares have gained 5%, but are both underperforming the blue-chip Nifty 50, which is up 6.8%

Indian Oil to raise up to $2.7 billion through rights issue of shares

IOC, the country's top refiner, has not specified which projects the newly raised funds would target

UN world food price index hit almost 2 years low at 122.3 points in June

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally-traded food commodities, averaged 122.3 points in June

China's forex reserves rise by $16.49 billion to $3.193 trillion in June

The yuan fell 2% against the dollar in June, while the dollar last month fell 1.2% against a basket of other major currencies

RBI looking to enhance fintech regulations, says Dy Guv T Rabi Sankar

The central bank has been monitoring the fintech space lately to ensure financial stability and mitigate risks related to cybersecurity and prevent fraud

Centre may set mandates for industrial use of green hydrogen: Official

India has set a goal of producing 5 million metric tonnes of green hydrogen annually by 2030, with about 70% of that marked for export markets, he said

China to end Ant Group's regulatory revamp with fine of $1.1 bn: Report

The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days

Cipla's US unit recalls 6 batches of bronchospasm inhaler over defect

'The company is initiating a recall in the US due to a market complaint for one single inhaler, where leakage was observed through the inhaler valve,' the pharmaceutical company said in a statement

Hague court rejects India's objections over water treaty arbitration

India called the arbitration proceeding illegal as a neutral expert was also looking at the issue and the World Bank-brokered treaty prohibits parallel proceedings

IAEA chief Grossi nods to discord among Fukushima water report experts

Beijing has blasted the IAEA's report saying the body should not be endorsing a plan which poses risks to marine life and human health, despite assurances from Japan

Rupee to extend decline as US hiring data points to more Fed rate hikes

Non-deliverable forwards indicate rupee will open at around 82.66-82.70 to the U.S. dollar compared with 82.51 in the previous session

FIS to sell stake in merchant business to GTCR for $18.5 billion

The transaction would effectively undo FIS' $43 billion acquisition of Worldpay in 2019, after the unit lost market share to traditional competitors and new financial technology startups

US stocks slide as traders bet on more rate hikes by Federal Reserve

Europe's Stoxx 600 index sank the most in two weeks

Oil drops 1% as market frets about risk of US interest rate hike

OPEC upbeat over 2024 oil demand outlook despite slowdown

State-run banks confident of withstanding macro shocks: Finance Ministry

India's state-run banks are confident of withstanding any macroeconomic shocks and expect their outlook to improve, despite headwinds in the global banking sector, the finance ministry said