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Business

Hong Kong Monetary Authority Slaps Indian Overseas Bank with Hefty Fine for AML Lapses

The Hong Kong Monetary Authority fines Indian Overseas Bank's Hong Kong branch HK$8.5 million for lapses in anti-money laundering controls, alongside penalties for other banks. The...

Business

Indian Rupee Continues Downward Trend: Drops to 86.38 Against Dollar Amid Trade Uncertainties

The Indian rupee declined for the fifth consecutive day to 86.38 against the US dollar, influenced by trade deal uncertainties and FII outflows. Experts highlight the role of globa...

Business

IndiQube Secures Whopping Rs 314 Crore from Anchor Investors, Setting Stage for a Blockbuster Rs 700 Crore IPO

IndiQube Spaces raises Rs 314.3 crore from anchor investors at Rs 237 per share, ahead of its Rs 700 crore IPO. Key investors include major mutual funds and financial institutions....

Business

United Breweries Reports a 6% Surge in Q1 Profits, Reaching Rs 184 Crore Amidst Robust Demand

United Breweries Ltd (UBL) reported a 6% increase in Q1 net profit to Rs 184 crore, driven by an 11% volume growth and 46% surge in premium beer sales. Revenue rose 16% to Rs 5,380...

Business

India and EFTA Bloc Seal Historic $100 Billion Trade Pact, Set to Launch October 1

India has ratified the TEPA with the EFTA bloc, securing a $100 billion investment over 15 years. The agreement, effective from October 1, 2024, will reduce import duties on Swiss ...

Business

Deepinder Goyal's Wealth Soars: Blinkit's Rapid Growth Adds Rs 2,000 Crore in Just Two Days

Deepinder Goyal's net worth skyrocketed by Rs 2,000 crore as Blinkit's growth propelled Eternal's shares to a record high, marking a significant shift in India's quick-commerce lan...

Business

Composio Secures $25M in Series A Funding to Revolutionize AI Learning Infrastructure

Composio, a San Francisco-based AI infrastructure startup, has raised $25 million in Series A funding led by Lightspeed Venture Partners. The startup, founded by Soham Ganatra and ...

Business

Coca-Cola's India Business Faces Challenges Due to Early Monsoons and Geopolitical Tensions

Coca-Cola's business in India faced challenges due to early monsoons and a brief India-Pakistan conflict, leading to a decline in sales. The company remains bullish on India's mark...