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BHEL reports 34.2% fall in net profit as higher material costs weigh

Total expenses rose 5.4% due to a sharp rise in input costs led by raw materials that had gone up 23.9% year-on-year

Engineers India Ltd expects more orders from Middle East: Chairperson

EIL has raised its staff strength from 23 to 84 at its Abu Dhabi office to cater to the region, Shukla said

Embraer executives sees no sales hit from Pratt & Whitney engine woes

Pratt & Whitney "It is definitely a topic in discussions with customers," said Arjan Meijer, chief executive of Embraer Commercial Aviation

Scandal-hit Credit Suisse ordered to pay $926 mn to ex-Georgia PM for fraud

Singapore's International Commercial Court said a unit of Credit Suisse had not acted in good faith and neglected to keep the assets of Bidzina Ivanishvili safe

India's forex reserves snap 3-week rise, ease from near 1-year high

Forex reserves decreased $6.05 billion from the previous week, after rising by a total of $15.3 billion in the prior three weeks

As US credit risk looms, ex-S&P officials see 2011 downgrade as vindicated

That downgrade came days after Washington narrowly averted a default, but S&P went ahead, cutting the U.S. pristine "AAA" to "AA-plus," citing heightened political polarization

Looking for opportunities in China after registering legal entity: Moderna

The U.S. biotech firm registered a unit called Moderna (China) Biotech Ltd in Shanghai on May. 24 with capital of $100 million, according to Chinese data providers

Meta offers to limit use of ad data to address UK competition concerns

The CMA said it was minded to accept the commitments, which include advertisers being able to opt out of allowing their data

Global money market funds attract heavy inflows as US debt ceiling looms

U.S. money market funds received $39.89 billion worth of inflows but investors sold European and Asian funds of $15.76 billion and about $30 million, respectively

BEML profit grows 18% YoY to Rs 158 cr in Jan-Mar quarter as expenses dip

Consolidated profit rose to 1.58 billion rupees ($19.12 million) for the three months ended March 31, from 1.33 billion rupees a year earlier

India's 'mini-demonetisation' may have political motivations: Chris Wood

India will see a series of state polls this year and a general election in 2024

Europe's AI rules are not for negotiation: EU's Breton on OpenAI threat

Altman's comments at a conference a day earlier came as the European Union seeks to expand its AI rules to cover generative AI tools, such as OpenAI's ChatGPT

Alibaba refutes layoff rumours, says will hire 15,000 people this year

In a post on the firm's official Weibo account, Alibaba said that among the 15,000, more than 3,000 people would be newly-graduated students

US weekly jobless claims rise moderately; Q1 GDP growth revised up

Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 229,000 for the week ended May 20, the Labor Department said

Zee Entertainment posts loss of Rs 196 cr on low ad demand, higher costs

Zee posted a consolidated net loss of 1.96 billion rupees ($23.7 million) for the fourth quarter ended March 31, against a profit of 1.82 billion rupees a year ago, a regulatory filing showed

Indian oil firms in talks to buy stake in Tullow's Kenya block: Oil India

Oil India, along with ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp, are talking to Tullow, Rath said, without elaborating on the size of a possible stake

TTK Prestige posts 26% drop in Q4 profit as cookware demand weakens

The Bengaluru-based company's consolidated net profit fell to 594.5 million rupees ($7.18 million) in the three months ended March, from 800.2 million rupees a year earlier

Pakistan slashes provisional GDP growth to 0.29% from 2% for 2022-23

The country posted highest ever inflation at 36.4% in April and its currency has depreciated to a historic low

Russian hypersonic scientist accused of 'betraying secrets to China'

"He is convinced of the fact that the information was not secret, and of his own innocence," one of the people said

HSBC places 12 countries on exit watchlist to focus on expansion in Asia

HSBC's ongoing pivot to Asia has already triggered planned sales of all or parts of its businesses in France, Greece, Russia, and Canada