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India’s Reliance rakes in $100bn annual revenue

Ut World May 10, 2022 0

After reporting strong quarterly results across its energy, telecoms, and retail businesses, Reliance Industries became the first Indian company to cross $100 billion in annual revenues. Between January and March, the conglomerate, which is owned by Asia’s richest man Mukesh Ambani, Continue Reading

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The Indian agency denies pressuring Xiaomi officials to make a statement

Ut World May 7, 2022 0

The Enforcement Directorate today denied allegations made by Xiaomi India that it was forced to give statements in an alleged illegal remittances case by the probe agency. “The allegations that the statement of Xiaomi India officials was taken under duress by the Enforcement Directorate (ED) are false and without merit. On several occasions, Xiaomi India […]Continue Reading

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India’s Forex Reserves Fall Below $600 Billion, Lowest In a Year

Ut World May 6, 2022 0

For the first time in a year, India’s foreign exchange reserves fell below $600 billion, weighed down by persistent capital outflows and rupee weakness fueled by the dollar’s recent broad surge. The Reserve Bank of India’s (RBI) latest data for the week ending April 29 showed the country’s foreign exchange reserves fell by $2.695 billion […]Continue Reading

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Nirmala Sitharaman Invites Silicon Valley to India: “Unique Opportunity”

Ut World April 26, 2022 0

While pitching for collaboration with the US in financial services and emerging technologies in Silicon Valley, Finance Minister Nirmala Sitharaman invited investors to be a part of the country’s growth story. She said financial technology (fintech) represents a unique opportunity for sustainable and inclusive growth at a round table hosted by the Confederation of Continue Reading

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Reliance Calls Off ₹ 24,700 Crore Retail Deal With Future Group After Secured Creditors Voted Against It

Ut World April 23, 2022 0

The deal cannot be implemented because secured creditors – primarily banks and financial institutions – of several listed entities of the Future Group rejected the sale worth Rs 24,713 crore, Reliance Industries Ltd (RIL) said in a regulatory filing on Saturday. Future Group announced the sale of 19 companies in the retail, wholesale, logistics, and […]Continue Reading

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“Made it clear to India that I don’t want them to rely on Russia,” the Pentagon says

Ut World April 23, 2022 0

According to the Pentagon, the United States discourages India from relying on Russia for its defence needs. “We’ve made it clear to India and other countries that we don’t want them to rely on Russia for their defence needs. We’ve been completely open and honest about it, as well as discouraging it “At a news […]Continue Reading

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HCL Tech’s Net Profit Increases To 3,593 Crore In The March Quarter

Ut World April 21, 2022 0

HCL Technologies, an IT services company, reported a net profit of 3,593 crore for the quarter ended March 2022 on Thursday, and expressed optimism about the “buoyant” market environment, citing “strong momentum across verticals and service lines.” In the previous year, the net profit was 1,102 crore. In constant currency, HCL Tech expects revenue Continue Reading

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India to get its first indoor skydiving facility in Hyderabad

Ut World April 20, 2022 0

You must not have heard of indoor skydiving if you thought skydiving was only possible outside, jumping out of an aeroplane into a descent of thousands of metres. But don’t be concerned. You’ll be able to experience it for the first time in India soon, as Hyderabad is set to bring the first-of-its-kind experience to […]Continue Reading

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“Pyramid Fraud”: Consumer Goods Seller Amway India Frozen 750 Crore

Ut World April 19, 2022 0

The Enforcement Directorate announced on Monday that assets worth over 757 crore belonging to Amway India, a direct-selling consumer goods company, had been attached under the anti-money laundering law. Amway India Enterprises Pvt Ltd.’s provisionally attached properties include land and a factory building in Tamil Nadu’s Dindigul district, as well as plant and Continue Reading

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Alliance Air To Function As Independent Business Unit From Today

Ut World April 15, 2022 0

The companies announced on Friday that Alliance Air is no longer a subsidiary of Air India and will be run as an independent business unit under the Government of India. According to an official statement released by Alliance Air, “from April 15, 2022, Alliance Air will no longer be a part of Air India after […]Continue Reading