BUSINESS
Domestic markets slump due to rising US bonds yields, weaker rupee
While Sensex reported a loss of 796 points, or 1.18 per cent, to settle at 66,800, Nifty closed at 19,901, down 232 points or 1.15 per cent.
Govt likely to stick to market borrowing plan for raising Rs 6.55 lakh crore
A senior official said that although revenue collections have been robust with both GST and direct tax collections showing a sharp increase in the current financial year, there is no plan, as of now, to reduce borrowing.
Licious sees flat revenues as cash burn continues in FY24: Report
According to a Moneycontrol report on Wednesday, Licious ended FY23 with a revenue of Rs 700 crore, less than half of Rs 1,500 crore that it initially projected.
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.
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