BUSINESS
Kuku FM raises $25 mn co-led by Fundamentum Partnership, IFC
The latest round marks Fundamentum’s second investment in the audio content platform.
Household net financial savings at 47-year low in FY23
According to the Reserve Bank of India (RBI), household net financial savings (HHNFS) collapsed to just 5.1 per cent of GDP in FY23, marking the lowest level in 47 years since FY77, the report said.
Uber Auto in Delhi among services driving company’s growth: CEO
Not only has it been a boon for Indians, looking for a cheaper option to the customary cabs, but the three-wheeler services in New Delhi also seem to be at the forefront of Uber’s future growth initiatives, company’s Uber CEO Dara Khosrowshahi has said.
Akasa Air gets nod for international operations
According to sources, the airline is poised to commence international routes in December, with initial destinations centred around Middle Eastern nations.
Sensex cracks more than 600 points due to multiple headwinds
To add to these headwinds, now there is the disappointing news of the likely compression of NIMs of HDFC Bank, which might temporarily impact sentiments in Bank Nifty, he said.
Another big Chinese developer files for US bankruptcy protection
The company has filed a petition for Chapter 15 protection with the US bankruptcy court for the Southern District of New York on Tuesday, CNN reported.
Oil hits $95 per barrel amid supply worries
Brent crude, the international benchmark, pushed over $95 per barrel on Tuesday, the highest since November 2022, The Guardian reported.
Last rites of slain soldier performed with full military honours in Manipur
The last rites were conducted with full military honours and were attended by the family members, a large number of villagers and officers of Army, Assam Rifles and district administration.
China woos top Western companies as foreign investment slumps
Pan Gongsheng, the Governor of People’s Bank of China (PBC) and head of the country’s foreign exchange regulator, chaired a symposium with the representatives from foreign companies, including JP Morgan, Tesla, HSBC, Deutsche Bank, BNP Paribas, Japan’s MUFG Bank, German chemical producer BASF, commodities trader Trafigura and Schneider Electric, according to a post on the websites of the PBC and the State Administration of Foreign Exchange (SAFE), CNN reported.
Rupee faces risk from rising oil prices
Although the RBI has been releasing dollars in the market to prop up the rupee this has not been able to stem the slide of the Indian currency as the country imports around 85 per cent of its crude oil requirement for which immediate payments have to be made in dollars.
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