Business

Foreign Investors Sell $1 Billion in JPM Index-Linked Indian Bonds

By BPN News Desk November 15, 2024

Foreign investors have sold approximately $1 billion worth of Indian government bonds linked to the JPMorgan Government Bond Index Emerging Markets (GBI-EM) in November, signaling a shift in sentiment amid global economic uncertainty. The data, sourced from market participants, indicates that this marks one of the largest sell-offs in Indian bonds linked to the index […]

Business

Reliance Infrastructure Posts ₹4,082.5 Crore Q2 Profit

By BPN News Desk November 15, 2024

Reliance Infrastructure Ltd (RInfra), led by Anil Ambani, has reported a consolidated net profit of ₹4,082.53 crore for the second quarter of FY25, a significant recovery from a net loss of ₹294.04 crore during the same period last year. The company attributed the turnaround to exceptional gains of ₹3,575.27 crore, primarily driven by debt settlements […]

Business

Adani Group to Invest $10 Billion in US Energy Projects

By BPN News Desk November 15, 2024

India’s Adani Group, led by billionaire Gautam Adani, has unveiled plans to invest $10 billion in energy and infrastructure projects across the United States. This significant commitment is set to create an estimated 15,000 jobs, further solidifying strategic business ties between the two nations. Adani, sharing the announcement on X (formerly Twitter), emphasized the

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 […]