BUSINESS
Maruti Suzuki's small car sales to go down, to launch CNG models and SUVs
He also said the small car segment which was at about 70 per cent for the company will go down to about 65 per cent which is also a substantial size. Speaking to reporters, he noted that there has been a degrowth in the small car hatchback segment while SUV segment logged major growth.
Xiaomi shuts Mi Financial Services in India to focus on core biz services
The company launched Mi Pay in the country in 2019 which garnered more than 20 million users in the country. The company also launched Mi Credit later. In a statement to IANS, Xiaomi India said the move is "to enhance focus on our core business services".
Maruti Suzuki Q2 net at Rs 2,061 crore
In a regulatory filing on Friday, the company said it earned total operational revenue of Rs 29,930.8 crore and a net profit of Rs 2,061.5 crore for the quarter ended on September 30. For the previous year's corresponding period, Maruti Suzuki's total operational revenue stood at Rs 20,538.9 crore and a net profit of Rs 475.3 crore.
AWS logs $20.5 bn in net sales in Q3, now at record $82 bn ARR
With the ongoing macroeconomic uncertainties, the company saw an uptick in (Amazon Web Services) customers focused on controlling costs. "We're proactively working to help customers cost optimise, just as we've done throughout AWS' history, especially in periods of economic uncertainty
Rupee touches 82.72 against dollar before closing at 82.63
The Indian currency gave up its early gains due to higher dollar demand. Earlier this month, rupee had touched a record high of 83.18 against the dollar. The investors' dim outlook on China and also on the overall global economy has impacted the rupee. Rupee's fate will also depend on the crucial Federal Reserve meeting on November 2, market watchers said.
What Causes Indian Rupee Value Fluctuations?
The exchange rate of currencies is constantly fluctuating because most countries have flexible exchange systems where the exchange rate is determined by different factors. A question that most people have in their minds is why the value of the Indian rupee or any other currency fluctuates?
Women-led Kinara Capital raises Rs 200 crore to empower MSMEs in India
Existing equity investors Nuveen and the ASN Microkredietfonds advised by Triple Jump also participated in the funding round. With this funding, Kinara Capital aims to grow 5 times by 2025 and reach an asset under management (AUM) of Rs 6,000 crore.
Growth in Asia-Pacific region to slow down in 2022, 2023: IMF
This reflects headwinds from several aspects, including global financial tightening and the Russia-Ukraine war, Xinhua news agency quoted the report as saying. Asia's strong economic rebound early this year is losing momentum, with a weaker-than-expected second quarter, said the IMF.
PM Modi lauds Paytm, commends reach of digital payments in far-off places
Commending the increase in penetration of digital payments in the country, Modi said that women entrepreneurs of the village are accepting digital payments with Paytm and have QR codes outside their shops. The Prime Minister was addressing a rally after laying the foundation stone of various developmental projects at Mana village, which is considered the last village at the border between India and China, during his two-day state visit last week.
Intel set to lay offs employees as it cuts billions of dollars in spending
Intel CEO Pat Gelsinger, during the company's Q3 earnings call, said that we are responding to the current environment by taking aggressive actions to reduce costs while mindfully protecting the investments needed to accelerate our transformation, ensuring we are well-positioned for long-term market growth.
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