Uber reported a net loss of $5.9 billion owing to unrealized losses from holdings in Didi Global, Grab Holdings, and Aurora Innovation, but provided a good earnings projection for the current period. It indicated that the firm intends to capitalize on strong ride demand without jeopardizing earnings by focusing on product upgrades rather than incentives […]
Oil prices jumped at the start of Asian trading on Wednesday, despite fears about slowing demand from top importer China, after industry reports revealed drawdowns in U.S. crude and fuel stockpiles, heightening supply concerns and offsetting concerns about slowing demand from China. By 0223 GMT, Brent crude futures had risen 89 cents, or 0.9 […]
According to figures from the electricity ministry, power consumption in the country increased 13.6% year on year to 132.98 billion units (BU) in April, indicating the impact of the early start of summer and a surge in economic activity. In April of last year, power consumption was 117.08 BU, which was greater than 84.55 BU […]
India’s use of semi-conductors is predicted to exceed USD 110 billion by 2030, according to Prime Minister Narendra Modi, and the country has the world’s fastest-growing start-up ecosystem. According to him, India is poised to lead the next technological revolution, with investments being made, among other things, in building 5G capabilities. “We are paving the […]
In Thursday’s intra-day trade on the BSE, shares of Poona Dal & Oil Industries set a new high of Rs 103.15 and remained trapped at the 10% upper circuit on the back of hefty volumes. The edible oil company’s stock has soared 86 percent in the last four trading days, from a low of Rs […]
After reaching a new high, Mukesh Ambani’s Reliance Industries Ltd (RIL) became the first Indian listed firm to have a market capitalization of Rs 19 trillion. In an otherwise sluggish market, the stock set a record high of Rs 2,827.10, up 2% on the BSE in intraday trade on Wednesday. RIL’s market capitalization was Rs […]
After the stock of Gautam Adani-led edible oil giant Adani Wilmar (AWL) achieved a record high of Rs 802.80 on the BSE in Tuesday’s trade, it joined the select group of companies with a market capitalization (m-cap) of Rs 1 trillion. According to BSE data, at 10:40 a.m., AWL was ranked 50th with a […]
Mainland In the last 24 hours, China’s National Health Commission reported 2,666 new locally transmitted COVID-19 cases and 51 new deaths, according to the country’s National Health Commission. According to the commission, 2,472 new local cases were recorded in Shanghai, with the remaining instances reported in 17 other provincial-level regions on the mainland, including 79 […]
Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at […]
Russia’s forces have destroyed an ammunition plant in Ukraine’s Kyiv region, the Russian Defence Ministry said. “During the night, high-precision air-based missiles destroyed an ammunition factory near Brovary (city) in the Kyiv region,” Ministry Spokesman, Igor Konashenkov told a daily briefing on Sunday. He added that 29 militants, including foreign mercenaries, were eliminated during the […]