BUSINESS
India's Q1 Deal Resurgence: A $24.5 Billion Surge, Revealed in Report
This resurgence in deal activity can be attributed to several factors including robust private equity (PE) operations, a notable resurgence in initial public offerings (IPOs), and a string of high-value transactions, as outlined by the 'Grant Thornton Bharat Dealtracker.'
Financial Milestone: Freo Attains Profitability with Rs 350 Crore Revenue in FY24
Anuj Kacker, Co-founder of Freo, emphasized the company's exceptional growth trajectory, profitability, and the trust garnered from a user base exceeding 25 million. He attributed this success to the potency of their technology, customer-centric product offerings, and their overarching mission of broadening financial inclusion.
Vistara Implements Flight Reductions Amid Operational Challenges
The objective behind this move, according to a Vistara spokesperson, is to realign flight operations to levels reminiscent of those observed at the conclusion of February 2024. By implementing these adjustments, Vistara intends to strengthen its roster management, thereby establishing a more durable and sustainable operational framework.
Foreign Investors Show Strong Interest in Telecom and Realty Sectors
In the realm of US bond yields, there has been notable volatility throughout this year, driven by speculations surrounding potential rate adjustments by the Federal Reserve (Fed). At the outset of the year, the market anticipated six rate cuts in 2024, leading to a gradual decline in yields. However, as the year progressed and the US labor market remained robust, market sentiment shifted to expecting only three rate cuts.
Arbitrator Orders Byju's to Hold Off on Selling 6% Stake in Aakash: Legal Twist Unfolds
Arbitration procedures were initiated by MEMG Family Office in March to safeguard its rights, based on the commitment made by Byju's when obtaining the loan.
Vistara expects normal ops by May; stretched roster caused flight disruptions: CEO Vinod Kannan Says
Acknowledging the validity of pilot concerns, Kannan assured that the airline is actively reviewing and discussing these issues. He also mentioned forthcoming contracts for pilots, designed to create more opportunities in the future.
India's Foreign Exchange Reserves Soar to Record-Breaking $645.58 Billion
The surge in the forex kitty amounted to $2.95 billion for the week, marking the sixth consecutive week of growth following a notable increase of $26.5 billion over the preceding five weeks.
Samsung Anticipates $4.9 Billion Q1 Profit Surge Amid Chip Demand Recovery
This figure exceeded market expectations by 20.5 percent, according to data from Yonhap Infomax, the financial arm of Yonhap News Agency. Total sales for the January-March period climbed by 11.4 percent to 71 trillion won, marking a significant milestone as it breached the 70 trillion-won threshold for quarterly revenue for the first time since the fourth quarter of 2022. However, specific estimates for net income were not provided in the filing.
RBI Approves Third-Party UPI Apps for Transactions via PPI Wallets
Previously, UPI payments from PPIs were restricted to the respective web or mobile applications provided by the PPI issuers. However, with the introduction of third-party UPI apps, users can now enjoy enhanced convenience and accessibility in making payments. This strategic move is expected to catalyze the proliferation of digital payments across the economy, streamlining the transaction process for individuals and businesses alike.
RBI Maintains Steady Repo Rate of 6.5% for Seventh Consecutive time
This decision comes after a pause in the rate increase cycle that commenced in April of the previous year, following a series of six consecutive rate hikes amounting to 250 basis points since May 2022.
Don't Miss
Advertisement