Page 692 - Reuters

Blackstone bets on Indian data binge, in talks with Microsoft, Amazon

Covid-19 created a shift in data consumption habits with more people working remotely and a spike in the use of social media, streaming platforms and e-commerce.

US business activity hits 13-months high, by growth in services sector: S&P

S&P Global said on Tuesday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 54.5 this month

Apple inks multi-billion-dollar deal with Broadcom for US-made chips

Broadcom shares were up 4.3% in premarket trading after the announcement. The chipmaker is already a major supplier of wireless components to Apple

Meta sells Giphy to Shutterstock to comply with UK regulator order

The company said Giphy would add minimal revenue this year and it would launch efforts to increase revenue from 2024

GE T&D India's loss narrows on lower input costs in March quarter

The cost of raw materials fell 20%, resulting in a 16% drop in total expenses. Revenue from operations rose 6.2% to 7.03 billion rupees

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

People stepping up expenditure on premium items to offload Rs 2,000 notes

The Indian central bank announced on Friday the country's largest denomination note will be withdrawn from circulation by the end of September

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