The country’s largest private sector lender HDFC Bank on Saturday reported an 18.1 per cent rise in its standalone net profit at Rs 10,342.20 crore for the third quarter ended December 2021. The bank had registered a net profit of Rs 8,758.29 crore in the corresponding quarter of the previous fiscal year.

The CBI has arrested E S Ranganathan, Director (Marketing) of GAIL, in a case of alleged bribery of over Rs 50 lakh for giving discounts to private companies buying petro chemical products marketed by the Maharatna PSU, officials said Sunday

Newly unredacted documents from a state-led antitrust lawsuit against Google accuse the search giant of colluding with rival Facebook to manipulate online advertising sales. The CEOs of both companies were aware of the deal and signed off on it, the lawsuit alleges. When the two sides hammered out the terms of the agreement, “the team … Continue reading Lawsuit: Google, Facebook CEOs colluded in online ad sales

US stocks opened higher, but later tripped into the red. All three major indices ended lower, with the tech-rich Nasdaq falling the most at 2.5 percent. Wall Street’s decline came after bourses in Europe pushed higher.

Billionaire industrialist Gautam Adani’s infrastructure conglomerate and South Korea’s Posco have inked a $5-billion (nearly Rs 37,000-crore) pact for setting up an integrated steel complex in the former’s home state of Gujarat. This would put the Adani Group in direct competition with Tata Steel, JSW Steel and ArcelorMittal Nippon Steel.

China’s booming exports outperformed expectations for much of 2021 and buoyed growth as several other sectors were faltering, but shipments have been slowing as an overseas surge in demand for goods eases and high costs pressure exporters.

A non-binding shareholder resolution called on Microsoft to review the effectiveness of its sexual harassment policies. The resolution, sponsored by Arjuna Capital, was approved in November over the company’s opposition. It came after reports that Gates behaved inappropriately toward female employees years ago.

Torus Kling Blockchain IFSC, a joint venture between Mumbai-based Cosmea Financial Holdings and Hyderabad-based Kling Trading India, has signed an MoU (memorandum of understanding) with BSE’s international arm India INX to launch digital asset-based products, which will be traded in GIFT City’s IFSC (international financial services centre).

Prime Minister Narendra Modi will address the online Davos Agenda summit of the World Economic Forum on the first day of the five-day event beginning January 17, joining a host of other global leaders who will share their visions for 2022 on the state of the world.

The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, mainly on account of softening in fuel, power and manufacturing items even though food prices hardened.

The country’s exports in December 2021 surged 38.91 per cent on an annual basis to $37.81 billion, the highest-ever monthly figure, due to healthy performance by sectors such as engineering, textiles and chemicals, even as the trade deficit widened to $21.68 billion during the month, government data showed on Friday.

Retail inflation jumped to a five-month high in December on the back of higher food, beverages, clothing, footwear, fuel and light prices and posed a fresh challenge for policymakers against the backdrop of a third wave of Covid.

Vodafone Idea on Wednesday said it will announce a fund-raise “shortly” as the company — which has got a fresh lease of life following a bailout package extended by the government — has received “huge interest” from investors, especially international funds.

Infy beats TCS, Wipro in Q3 results

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India’s three biggest IT companies all announced their third-quarter financial results on Wednesday, and all had solid double-digit year-on-year revenue growth rates.