BUSINESS
Amid Adani group row, RBI says banking sector remains resilient
"There have been media reports expressing concern about the exposures of Indian banks to a business conglomerate. As the regulator and supervisor, the RBI maintains a constant vigil on the banking sector and on individual banks with a view to maintain financial stability," the central bank said in a statement.
Budget allocated Rs 10K cr for railway sector in Odisha: Ashwini Vaishnaw
Speaking to mediapersons in Delhi, Vaishnaw said the Odisha government had demanded Rs 8,400 crore for development of railways in the state. However, Prime Minister Narendra Modi has allocated Rs 10,012 crore to the state, he said. The minister also announced that the 'Bande Metro' train will be introduced soon between Bhubaneswar and Puri.
DGCA orders probe as Indigo passenger reaches Udaipur instead of Patna
The incident took place on January 30 when passenger Afsar Hussain had to board an Indigo flight to Patna from Delhi airport. However, he boarded the Indigo flight to Udaipur by mistake and he realised this only after reaching there. Sources said that it is a matter of investigation that why his credentials were not checked properly while he was boarding the wrong flight.
ITC logs Q3 PAT of Rs 5,031 crore, declares interim dividend of Rs 6
The company's board declared an interim dividend of Rs 6 per share for FY24. According to ITC, for the quarter ended December 31, 2022 it had earned an operational revenue of Rs 17,265.48 crore (Q3FY22, Rs 16,806.89 crore) and a net profit of Rs 5,031.01 crore (Rs 4,156.20 crore).
IndiGo reports net profit of Rs 1,422 crore in Q3
The airline reported a net profit of Rs 1,422 crore, compared to net profit of Rs 1,298 million (Rs 129.8 crore) as compared to the same period last year marking over 10 times growth. As per the results declared by InterGlobe Aviation Ltd on Friday, total income for the quarter ended December 2022 was Rs 154,102 million, an increase of 62.6 per cent over the same period last year.
Apple now has more than 935 mn paid subscriptions
Apple CEO Tim Cook said that the company achieved double-digit revenue growth from App Store subscriptions and set all-time revenue records across a number of categories, including cloud and payment services. "All told, Apple now has more than 935 million paid subscriptions," Cook informed.
Foreign exchange reserves rise to $576 bn in January
This is the third consecutive week that the country's reserves have risen. During the week ending January 20, the foreign exchange reserves were $573.73 billion. The central bank has been intervening to buy dollars to stabilise the rupee. Apart from this, the valuation changes have also added to the RBI's foreign exchange reserves.
'Criminal conspiracy': Lawyer moves SC seeking a probe into Hindenburg report
American short seller Hindenburg Research's report about Indian billionaire Gautam Adani has led to a stock rout, erasing over $ 100 billion from his empire and pushing him down on the global rich list. The Adani group rubbished the allegations made by the Hindenburg Research.
'IMF giving us tough time', Pakistani rupee plunges after PM Shehbaz's comments
"As we speak, an IMF delegation is in Islamabad [holding parleys on loan programme] and giving a very tough time to the finance minister and his team," the Prime Minister said while speaking at the apex committee meeting in Peshawar, as he termed the economic challenges "unimaginable", Geo News reported.
Amazon's Cloud arm AWS hits annualised sales run rate of over $85 bn
"Starting back in the middle of the third quarter of 2022, we saw our year-over-year growth rates slow as enterprises of all sizes evaluated ways to optimise their cloud spending in response to the tough macroeconomic conditions," said Brian Olsavsky, Chief Financial Officer at Amazon.
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