Business

Siemens Plans Job Cuts in Automation Amid Profit Decline

By BPN News Desk November 15, 2024

Siemens has announced plans to cut up to 5,000 jobs worldwide in its struggling factory automation division. The move follows a significant 46% drop in profit for the company’s flagship digital industries business, which has faced challenges amid changing market dynamics. Automation Business Faces Setbacks Speaking on Thursday, Siemens CEO Roland Busch explained the

Business Industry

Swiggy Shares Slip After Strong Market Debut, Zomato Rises

By BPN News Desk November 14, 2024

Swiggy shares dipped into red on Thursday after an initial surge in the early trade. This comes just a day after the food delivery giant made an impressive market debut, with shares rising nearly 7% intraday before slipping to Rs 450.25 on the NSE, down 1.26% at 10:30 am. Swiggy’s stock debuted on Wednesday at […]

Business Finance

Adani Enterprises Q2 Profit Soars 664% YoY to ₹1,742 Crore

By BPN News Desk October 29, 2024

Adani Enterprises (AEL) reported a massive 664% year-on-year (YoY) increase in its consolidated net profit for the second quarter of FY25, soaring to ₹1,742 crore. This represents a significant jump from the ₹228 crore profit posted during the same period last year. Revenue Growth and Fundraising Plans AEL’s revenue from operations during the September quarter […]

Finance

India to Restrict FDI in Sensitive Sectors to Safeguard National Interest

By Editor - News Desk October 24, 2024

India will implement restrictions on Foreign Direct Investment (FDI) in specific sectors to safeguard national security, announced Finance Minister Nirmala Sitharaman during an interactive session at Wharton Business School, U.S., on October 22. Sitharaman emphasized that while India welcomes foreign investment, it must ensure that such investments align with the country’s

Business

Crude Oil Prices See Biggest Weekly Drop in a Year Amid China Slowdown

By Editor - News Desk October 20, 2024

International crude oil prices logged their biggest weekly decline in a year, with Brent crude futures falling by 1.87% to $73.06 per barrel and US West Texas Intermediate (WTI) settling 2.05% lower at $69.22 per barrel. Brent crude fell over 7% this week, marking its largest decline since September 2022, while WTI saw an 8% […]

Finance

India-Mexico Summit: Sitharaman Boosts Trade Ties in Key Sectors

By Editor - News Desk October 19, 2024

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, participated in the India-Mexico Trade and Investment Summit in Mexico City. The event, themed “Enhancing Trade and Investment Collaboration,” attracted key stakeholders from both nations to explore multi-sectoral cooperation. The summit was organized by the Trade & Commerce Council

Finance

India’s Forex Reserves Drop by $10.7 Billion, Hit $690.43 Billion

By Editor - News Desk October 18, 2024

India’s foreign exchange (forex) reserves saw a sharp decline for the second consecutive week, dropping by USD 10.746 billion to reach USD 690.43 billion for the week ending October 11, according to data released by the Reserve Bank of India (RBI) on Friday. This marks one of the largest decreases in recent times, following a […]

Industry

Reliance Jio Loses 10.9 Million Users After Tariff Hike

By Editor - News Desk October 18, 2024

Reliance Jio, one of India’s leading telecom operators, experienced a significant user loss of over 10.9 million in the second quarter, following a recent increase in recharge plan prices. The company raised its tariff rates, which resulted in a noticeable decline in its customer base. Despite this setback, Jio appears untroubled by the exodus, as […]

Industry

Adani Group to Invest $3 Billion in Semiconductor Manufacturing

By Editor - News Desk October 18, 2024

The Adani Group is set to make a significant move into semiconductor manufacturing with an initial investment of $3 billion over the next 2-3 years, according to a report by Mint on October 16. The Gautam Adani-led conglomerate is reportedly in talks with two Israeli companies to establish separate joint ventures for chip production, signaling […]

Industry

India Sanctions Three Hydrogen Steelmaking Pilot Projects Under Green Mission

By Editor - News Desk October 18, 2024

The Union Government of India has approved three innovative pilot projects aimed at incorporating hydrogen into steel production under the National Green Hydrogen Mission. These projects mark a significant step towards decarbonizing India’s steel sector, one of the most carbon-intensive industries. Green Hydrogen in Steel Production As part of the mission, the