Business

The Cricket World Cup may boost host country India’s economy by as much as ₹ 22,000 crore ($2.6 billion), economists at Bank of Baroda estimate. The quadrennial tournament, which starts on Thursday and runs through mid-November, is expected to draw large numbers of visiting fans domestically and internationally. With the matches played across 10 cities, that will mostly benefit the travel as...

Apple attributed the overheating reports regarding iPhone 15s to various factors, including specific app issues like Instagram and Uber, background processing after data transfer, and unspecified bugs within iOS 17, during the weekend. Today, the company has rolled out a new software update, iOS 17.0.3, with patch notes that address the problem of iPhones running hotter than expected. In an...

The World Bank on Tuesday maintained its forecast for India’s economic growth for the current fiscal year that started on April 1, saying the Indian economy continued to grow rapidly despite challenging external conditions. The World Bank maintained its growth forecast for India at 6.3%, after it lowered it during its April review.

Jio Infocomm, the telecom unit of Mukesh Ambani-led Reliance Industries, has raised around $2 billion or Rs 16,640 crore in one of the country’s biggest offshore loans in FY24. HSBC was the lead arranger of the transaction that will help fund the telco’s 5G gear purchases from Nokia. Finnish credit export agency Finnvera reportedly provided a cover of a similar sum to...

Domestic equity benchmarks Nifty 50 and Sensex on Friday, September 29, scaled higher amid advances in banks and metal companies. On the other hand, a fall in information technology stocks was seen after the IT bellwether Accenture predicted a downbeat year as spending stays weak. At close, the S&P BSE Sensex was up 320.09 points, or 0.49 per cent, at...

Some of the first owners of Apple Inc.’s iPhone 15 Pro and Pro Max are complaining that the new devices get too hot during use or while charging, a potential setback for the company’s flagship product. The gripes have spread across Apple online forums and social media networks, including Reddit and X. Customers say that the back or side of...

The availability of cheaper and feature-rich cell phones along with thepenetration of low-cost internet in rural India fuelled by the DigitalIndia campaign, has pushed service providers to transform the way servicesare delivered and as a result, the players in advertising, media, education andgaming have grown exponentially over the last few years. Considering the sizeof the Indian market and growing demand...

Indian edtech major BYJU’S has decided to undergo a fresh round of layoffs over the next few weeks as part of a restructuring exercise, Business Today has learned from sources. This development comes as the edtech struggles with a severe funding crunch, battles lenders and has faced a markdown in its valuation. Sources claim that the layoffs would impact around...

India’s Silicon Valley will be under a complete shutdown on Tuesday as pro-Kannada organisations and farmer unions have called for bandh to protest against the release of Cauvery river water to Tamil Nadu. The bandh has been called from 6am to 6pm on Tuesday. Bengaluru Urban District Collector KA Dayanand has announced a public holiday for all schools and colleges...

Akasa Air has chosen to fly less and give up market share in the short term to offer a more reliable network to customers, CEO Vinay Dube told employees in an internal memo on September 20, Wednesday. Refuting media reports about the airline’s likely shutdown, Dube mentioned in the note that the airline has rationalised its network in the past...

Apple’s latest iPhones were flagged for a slew of design and technical problems within hours of their release on Friday. Social media posts shared by tech enthusiasts claimed that the new device performed poorly on durability tests, had uneven colouring and other ‘defects’. Despite the complaints, demand for the latest Apple offerings remained strong on Friday with hundreds queueing up...

India, Israel, the US and the UAE, the four countries which together constitute the I2U2 grouping, launched a a uniquely structured I2U2 business coalition, also termed private enterprise partnership, on the sidelines of the UN General Assembly (UNGA) on Thursday Separately, Washington DC, Tel Aviv, Delhi and Abu Dhabi also launched an official I2U2 site and called for project proposals...