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Federal Bank raises Rs 959 cr from IFC via preferential issue of shares

The shares were issued at a price of 131.91 per share and were approved by the board on Friday, the bank said in a notification to exchanges

Tiger Global, other investors ask India to reconsider online gaming tax

Over 100 gaming firms wrote a letter to the finance ministry last week, with a similar request, saying the tax will stifle foreign investment and put $2.5 billion already invested in sector at risk

India aims to trade electricity with Southeast Asian countries: Report

The grid linkages, which industry official said could take at least four years to complete, follow India's effort to begin trading power with Middle Eastern countries such as the United Arab Emirates

Poland to move soldiers to east of country over Wagner risks: Report

On Thursday, the Belarusian defence ministry said Wagner mercenaries had started to train Belarusian special forces at a military range just a few miles from the border with NATO-member Poland

Rice prices to climb further after India export ban, trade at standstill

In Thailand, the world's second biggest exporter, suppliers were waiting to find out prices before signing new deals

Hindustan Unilever stock falls 2.4% after costs hit quarterly profit

Fast-moving consumer goods markets are recovering gradually although the operating environment remains "challenging," CEO Rohit Jawa said

Fed launches long-awaited instant payments service, modernising system

The Fed said on Thursday in a statement that 35 banks and credit unions were currently utilizing the service, as well as the Treasury Department's Bureau of Fiscal Service

US airlines see no letup in travel demand despite broader economic concerns

Airlines say travel has become the topmost priority for consumers, but capacity constraints will not let them catch up with demand for anytime soon, helping sustain the post-pandemic travel boom

WHO seeks help from India in latest toxic syrup-deaths case in Cameroon

The alert about Naturcold is the latest of several similar warnings issued in recent months about contaminated cough syrups sold worldwide

Google tests AI to write news articles, in talks with news organisations

The product named Genesis has been demonstrated for executives at New York Times, Washington Post, and Wall Street Journal

Top rice exporter India bans most shipments as late monsoon hits crop

India accounts for more than 40% of world rice exports but low inventories mean any cut in shipments will fuel food prices driven up by Russia's invasion of Ukraine last year and erratic weather

YouTube hikes prices on US premium plans; annual subscription up $20

It has also hiked prices for YouTube Music by $1 to $10.99 in the U.S. The move follows similar price increases by Amazon Music, Apple Music and Tidal

US weekly jobless claims fall unexpectedly, shows labour market strength

Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 228,000 for the week ended July 15, the Labor Department said on Thursday

Gautam Adani to convert Mumbai slum into modern city despite challenges

It is the latest mega-project taken on by ports-to-energy conglomerate Adani Group, which already supplies electricity in Mumbai through listed unit Adani Transmission

Goldman brings Tom Montag as CEO Solomon looks to bolster board support

Montag, who had previously co-headed Goldman's securities division besides holding several other senior roles, would now be a part of the bank's audit, governance and risk committees

We await new Microsoft proposal on Activision deal: UK antitrust regulator

It has been left increasingly isolated in opposition after US regulator, the FTC, failed to block it in court last week, and the CMA has taken the unprecedented step of reopening talks

Elon Musk open to price cuts as Tesla bets on self-driving future

Tesla saw a spike in the usage of FSD Beta in the second quarter, with cumulative miles driven with the technology coming in at more than 300 million miles

Abbott beats quarterly profit estimates on demand for medical devices

Abbott's diagnostic sales came in at $2.3 billion in the quarter, in line with analysts' average estimates.

Marsh McLennan beats Q2 profit estimates on interest income boost

Ten successive rate hikes by the U.S. Federal Reserve have helped companies net higher interest income on funds they hold on behalf of clients

American Airlines raises 2023 profit forecast on strong travel demand

Boosting profits, jet fuel costs in North America are down about 30% from a year ago, but there are signs flight fares might be cooling off