India is likely to receive the fourth unit of the S-400 Triumf surface-to-air missile system from Russia early next month, a move expected to further strengthen the Indian Air Force’s air defence capabilities, sources in the security establishment told the news agency PTI on Tuesday (April 28). In October 2018, India had signed a USD 5 billion...
Sun Pharmaceutical Industries will acquire Organon & Co in an all-cash deal, valuing the US drugmaker at about $11.75 billion including debt, in one of India’s biggest outbound deals. The acquisition would help Sun Pharma further expand its women’s health portfolio with access to Organon’s portfolio of more than 70 products across women’s health and...
Mercedes-Benz has launched the all-new CLA EV in India with prices starting from Rs 55 lakh (ex-showroom). The CLA is the new entry-point to Mercedes’ lineup in India, effectively replacing the A-Class Limousine, as well as the EQA and EQB EVs. The CLA is not a new nameplate for India, but this is the first time it’s being...
India’s foreign exchange (forex) reserves rose by $2.362 billion to $703.308 billion in the week ended April 17, according to the latest data from the Reserve Bank of India. The increase came after a $3.825 billion rise in the previous reporting week, when reserves had climbed to $700.946 billion. Gold holdings, a key component of...
Days ahead of the expiry of an extended US sanctions waiver on India’s operations at Chabahar Port, India is moving to divest its stake in the strategic port to an Iranian entity, according to people aware of the developments. The government has worked out a proposal to disinvest the stake of India Ports Global (IPGL)...
Crude oil prices jumped over $102 per barrel (bbl) during the early market hours on Thursday, April 23, after reports emerged of Iran attacking three ships in the Strait of Hormuz amid the ongoing ceasefire deal with the United States and the military blockade imposed by America at the key trading route. Investors were trading...
Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on September 1, 2026. The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process. Cook will...
Gold rates in India crashed on Monday, April 20, tracking a weak broader market due to renewed hostilities at the Strait of Hormuz between the US and Iran. This brings back inflationary fear and energy crisis concerns, making the dollar and crude oil attractive but dulling the appeal for precious metals. On Monday, 24 carat gold...
Meta intends to conduct a first wave of sweeping layoffs planned for this year on May 20, with more coming later, three sources familiar with the plans told Reuters. The Facebook and Instagram owner will lay off about 10% of its global workforce, or close to 8,000 employees, in that initial round, one of the...
A man has won an original Pablo Picasso painting worth more than €1m (£870,000; $1.2m) in a charity raffle. Ari Hodara, an engineer and art enthusiast, learned he was the winner on Tuesday when he answered a video call from Christie’s auction house in Paris. “How do I know this isn’t a prank?” the 58-year-old...