MUMBAI: State Bank of India has cut fixed deposit rates by 20 basis points across all tenors for both the general public and senior citizens from May 16. The move follows a 25 bps repo rate cut by RBI in April and comes ahead of another expected cut in June.RBI also infused nearly Rs 5…
The president recently attacked Walmart, saying it should “eat” the costs rather than pass them on to customers. Source link
MUMBAI: Instant beverage maker Rasna on Monday announced that it has acquired the brand Jumpin from Hershey’s India for expanding into the ready-to-drink category. Rasna did not disclose the amount it has paid for the 100% acquisition of the brand. However, it indicated that independent agencies have valued the brand at Rs 350 crore. Piruz…
The government is widening a crackdown on tourist rentals as it seeks to alleviate a painful housing crunch. Source link
The Centre has released draft rules proposing the delicensing of the lower segment of the 6 GHz band for unlicensed indoor use. The move, which applies to the 5925–6425 MHz frequency band, is aimed at enabling next-generation Wi-Fi technologies and supporting data-heavy applications.According to the draft, no authorisation or frequency assignment will be required for…
The idea is politically popular, but the tax benefits may not go as far for low-income workers as many may think. Source link
NEW DELHI: Apple’s key supplier Foxconn has invested $1.48 billion (approximately Rs 12,800 crore) in its India operations over the past five days, the company disclosed in a regulatory filing.The investment was made into Yuzhan Technology (India) Private Limited, Foxconn’s Tamil Nadu-based unit, via its Singapore arm, Foxconn Singapore Pte Ltd. Under the transaction, the…
President Trump’s associates and crypto entrepreneurs are rushing back to the market for the once-hot, but mostly troubled, investment vehicles called special purpose acquisition companies. Source link
Kotak Mahindra Mutual Fund on Monday bought a 6.6 per cent stake in pharmaceutical companyAmi Organics for nearly Rs 301 crore through open market transactions. According to the block deal data available on the National Stock Exchange (NSE), Kotak Mahindra Mutual Fund (Kotak MF) purchased 26.97 lakh shares or 6.59 per cent stake in two…
Europe’s economy will grow more slowly than expected this year, dragged down by trade uncertainty from President Trump’s tariffs, despite increasingly stable prices on consumer goods and energy, European Union economists said on Monday. In its spring economic forecast, the European Commission, the trade bloc’s administrative arm, said it expected the gross domestic product of…
