Gaurav Bansal

[ad_1] Wipro reported a 25.9% year-on-year rise in consolidated net profit for the fourth quarter in March, reaching Rs 3,569.6 crore. However, the company has issued a cautious forecast for the upcoming quarter, with IT services revenue expected to fall by up to 3.5% in Q1FY26, amidst ongoing global uncertainties.CEO and managing director Srini Pallia said that while the demand for tech re-invention remains strong, clients are approaching the market with caution due to macroeconomic factors. He added, "As clients remain cautious in the face of macroeconomic uncertainty, we’re focused on partnering closely with them while staying committed to consistent and profitable growth."For the fourth quarter of FY25, the Bengaluru based IT giant’s revenues stood at Rs 22,504.2 crore, reflecting a modest increase of 1.33% from the previous year. Net profit for the period was up 25.9% compared to Q4FY24, […]

[ad_1] The escalating US-China trade war is pushing global manufacturers to take a harder look at India as a viable alternative to China. US President Donald Trump has escalated his economic battle with Beijing, slapping up to 245% in cumulative tariffs on Chinese imports - the most aggressive US trade action in years.While these tariffs hit China’s key industries hard - including tech, critical minerals, and consumer goods - Trump has paused or minimized duties on most other nations, giving countries like India a rare opportunity to shine.The latest salvo: An April 15 executive order investigating whether Chinese exports of rare earth metals and critical minerals threaten US national security - an inquiry likely to result in more tariffs. Meanwhile, China has retaliated with own duties on US goods and tightened controls over exports of key materials like gallium, germanium, […]

[ad_1] NEW DELHI: Alphabet's Google on Wednesday said that it suspended 2.9 million advertiser accounts in India and removed 247.4 million ads in 2024 for violating its ad policies."In India, 247.4 million ads were removed and 2.9 million advertiser accounts were suspended," the Company said in a report.Globally, Google has suspended more than 39.2 million advertiser accounts, took down 5.1 billion ads, and restricted over 9.1 billion ads, the company's annual Ads Safety Report added."The company also adapted its defences against ever-evolving scams, notably the rise of AI-generated public figure impersonation ads," Google said.According to the report, in 2024, the organisation implemented more than 50 improvements to its LLMs (large language models), expediting complex investigations and enhancing the identification of fraudulent activities and suspicious signals during account creation.A specialised team of over 100 professionals collaborated to implement protective measures, including […]

[ad_1] Commerce secretary Sunil Barthwal New Delhi: Commerce secretary Sunil Barthwal on Tuesday said India will seek to close the proposed bilateral trade agreement (BTA) with the US as quickly as possible, with both countries looking to liberalise trade. "The deadline indicated is to conclude the first tranche by Fall (Sept/Oct)... We are negotiating and we will try to see that negotiations close as quickly as possible," he told reporters.After finalising the terms of reference, India and the US are to start formal negotiations this week. "We hope to get into the physical mode of negotiations may be in the second half of May. So, we are on schedule as far as the BTA and its negotiations are concerned," said Rajesh Agrawal, additional secretary in the commerce department, who is also the chief negotiator for India.The commerce secretary said a […]

[ad_1] A city renowned for its opulence and record-breaking achievements, Dubai has once again made headlines — this time by setting a world record for unveiling the most expensive mocktail in the world, priced at an astounding AED 12,099.The iconic launch took place at Jimmydixs Restaurant and Lounge, nestled within the elegant Barcelo Hotel, Al Jaddaf. The visionary behind this grand concept is Sucheta Sharma, Founder of the Boho Cafe Group UAE, who along with her sister Urvashi, set out to redefine what it means to enjoy a non-alcoholic beverage. Their goal was simple yet ambitious: to craft a drink that fuses artistic presentation, the finest ingredients, and a memory that guests could take home — literally. This dream was brought to life by Fredrick, the Bar Manager at Jimmydixs, who blended tradition with innovation to deliver a one-of-a-kind creation. […]

[ad_1] Hongkong Post announced on Wednesday the suspension of shipping services to the United States, citing "bullying" tariff increases implemented by US President Donald Trump. The postal authority confirmed it would "definitely not collect any... tariffs on behalf of the US and will suspend the acceptance of postal items containing goods destined to the US".The service changes include an immediate halt to surface mail for US-bound items, whilst air mail services will cease from April 27.The decision follows Trump's recent directive eliminating duty-free allowances for small parcels from China, a policy that allegedly benefited Chinese online retailers like Shein and Temu. Previously, the "de minimis" rule permitted goods valued up to $800 to enter the US without duties or specific taxes.The trade tensions between Washington and Beijing have escalated significantly. US tariffs on Chinese goods have reached 245 percent, with […]

[ad_1] BENGALURU: Goldman Sachs Alternatives acquired a majority stake in Gurugram-based human capital management software provider PeopleStrong, the companies announced on Monday. The deal was made through the private equity arm of Goldman Sachs’ alternatives platform. Financial terms of the deal were not disclosed.Stay informed with the latest business news, updates on bank holidays and public holidays.Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now! [ad_2] Source link

[ad_1] MUMBAI: Markets regulator Sebi on Tuesday barred the two promoters of Gensol Engineering, Anmol Singh Jaggi and Puneet Singh Jaggi, from the securities markets until further notice due to fund misappropriation and governance issues.Additionally, both the promoters have been barred from serving as directors or in any key managerial position in Gensol. The regulator also ordered the company to suspend its recently announced stock split. Sebi has also said that a forensic auditor will be appointed to scrutinise the accounts of Gensol and its associated parties. The orders by Sebi came after it investigated the company and its promoters. The investigation was started after the regulator received complaints in June 2024 regarding share price manipulation and fund diversion from Gensol.A29-page interim order by Ashwani Bhatia, whole time member, Sebi said that prima facie findings had shown “misutilisation and diversion […]

[ad_1] NEW DELHI: The US remained India's largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at USD 131.84 billion, while the country's trade deficit with China widened to USD 99.2 billion during the same period, government data showed. In the last fiscal, India's exports to China contracted 14.5 per cent to USD 14.25 billion as against USD 16.66 billion in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to USD 113.45 billion against USD 101.73 billion in 2023-24. The trade deficit with China has widened by about 17 per cent to USD 99.2 billion in the last fiscal from USD 85.07 billion in 2023-24. China continues to be the second largest trading partner of India with USD 127.7 billion two-way commerce in 2024-25 as compared to USD 118.4 billion in 2023-24. […]

[ad_1] Nvidia warned that it expects a $5.5 billion hit to its revenue after the Trump administration blocked sales of its China-specific AI chips, a move that could reshape the global chip race and deepen the technology rift between the US and China.In a regulatory filing, Nvidia said it had been notified that the US government would now require a license to export its H20 chip to China — a chip it had designed to comply with earlier restrictions. The company said it would be unable to sell or fulfill existing H20 orders, prompting a multi-billion-dollar write-down of inventory and contracts.The decision comes just days after Nvidia pledged to invest $500 billion in US AI infrastructure — a move praised by the White House. But behind the scenes, the Trump administration had already informed the company it was tightening export […]