The potential economic impact of artificial intelligence (AI) is immense and AI adoption can generate Rs 33.8 lakh crore of economic value in the country by 2030, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Wednesday. Addressing an event in the national capital, Minister Puri underscored the pivotal role of … Read more
Gold prices drifted higher on Thursday, as safe-haven demand countered a firmer dollar, while palladium hit a more than one-month peak. Spot gold rose 0.3% to $2,725.51 per ounce by 0143 GMT. Prices hit a record high of $2,758.37 on Wednesday as U.S. election jitters and Middle East tensions boosted demand. U.S. gold futures gained … Read more
The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency. The dollar index, which measures the currency against six rivals including the euro and yen, stood at … Read more
A panel discussion of the country's leading businesswomen at the ‘NDTV World Summit 2024’ highlighted the vital role of women workforce in fostering a better future, creating a new paradigm of leadership and also breaking new benchmarks on the global stage. The panel included leading Indian businesswomen such as Kami Viswanathan, President of FedEx Middle … Read more
The FIIs as per Wednesday's data were net sellers in both equity and debt segments, according to data released by the NSDL. In equity segment, the gross buying was of Rs 16350.73 crore against gross selling of Rs 20178.06 crore. Thus, FIIs stood as net sellers of Rs 3827.33 crore in equities. In the debt … Read more
The mergers and acquisitions (M&A) deal activity in value in India surged 66 per cent in the first nine months this year, outpacing 10 per cent growth globally and 5 per cent decrease in the Asia-Pacific region overall, according to a report on Wednesday. The M&A activity in India has been strong in 2024, bucking … Read more
Abu Dhabi Investment Authority (ADIA), the UAE's largest sovereign wealth fund, will invest about $750 million in the debt of India's GMR Group, giving it a foothold in one of the world's fastest-growing aviation markets. The investment will also allow the Indian company to reduce the pledged shareholding on its airports business. ADIA has invested … Read more
India's SBI Life Insurance Company reported a nearly 40% year-on-year rise in second-quarter profit on Wednesday, helped by higher investment income and sustained demand for insurance products. SBI Life said its profit rose to 5.29 billion rupees ($62.92 million) for the quarter ended Sept. 30, from 3.8 billion rupees a year earlier. Net premium income … Read more
Indian dairy products maker Heritage Foods posted a two-fold surge in second-quarter profit on Wednesday, marking the seventh consecutive quarter of earnings growth, as increased rural demand boosted sales. The company posted a consolidated profit of 486.3 million rupees ($5.8 million) in the three months ended Sept. 30. Its revenue from operations rose 4% to … Read more
Almost 750 million additional people were covered by 5G in 2023 and more than half of that was due to rollouts by operators in India alone, a new GSMA report said on Wednesday. The consumer experience on mobile networks continued to see significant improvement in 2023, with global average download speeds increasing from 34 to … Read more