BUSINESS
Paytm monthly transacting users surge to 89 mn, leads offline payments with 6.4 mn devices
Consumer engagement on the Paytm Super App continues to see robust growth with the average Monthly Transacting Users (MTU) for the two months at 89 million, registering a growth of 28 per cent (year-on-year). The company said it is seeing consistent growth in merchant payments volume with the total merchant.
Iran says oil exports reach highest level since US reimposed sanction in 2018
Owji on Sunday added that Iran's crude exports have increased by 83 million barrel from the beginning of the current Iranian calendar year, which started on March 21, 2022, to February 19, 2023, compared to the same period in 2021-2022, reported the official news agency IRNA.
Saudi oil giant Aramco reports record profit of $161.1 bn for 2022
In 2022, Saudi Aramco's net income saw a 46.5-per cent increase compared to that of 2021, which stood at around $110 billion, Saudi Press Agency (SPA) reported. The company also declared a fourth-quarter dividend of $19.5 billion, to be paid in the first quarter of 2023, the SPA reported. The increase in Saudi Aramco's net income is mainly driven by higher crude oil prices.
US Treasury Secretary Yellen rules out bailout for Silicon Valley Bank
"During the financial crisis, there were investors and owners of systemic large banks that were bailed out," Yellen said in an interview, CBS News reported. "And the reforms that have been put in place means that we're not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs."
Adani fully prepays share backed promoter financing, increases equity in Ambuja Financing
In addition, promoters have also prepaid $500 million facility taken for Ambuja acquisition financing. This is in line with the promoters' commitment to increase equity contribution and promoters have now infused $2.6 billion out of total acquisition value of $6.6 billion for Ambuja and ACC.
'Shark Tank India 2': Vineeta Singh gets deal worth Rs 5cr from fellow sharks
During the show, she talked about how the beauty industry is expanding in the country, and also as women are becoming more independent their choices for cosmetics are also changing. She also added about how society puts so much pressure on girls and how they look.
Saudi oil giant Aramco posts record profit of $161 billion
It represents a 46.5 per cent rise for the state-owned company, compared with last year, BBC reported. It is the latest energy firm to report record profits, after energy prices spiked following Russia's full-scale invasion of Ukraine in February 2022. America's Exxon Mobil made $55.7 bn, and Britain's Shell reported $39.9 bn, BBC reported.
SVB saga: Recur Club allocates $15 mn to fund payroll for affected Indian startups
To further bolster and support the ecosystem, Recur Club will not charge any platform fees. "This incident tells us about the criticality of diversification, be it customers, banking, or investors in a business. Recur Club has received interest from more than 100 startups regarding immediate Payroll financing and managing short-term expenses," said Eklavya Gupta co-Founder, Recur Club.
Confused with US's SV Bank crisis, besieged SVC Bank threatens legal action
Scores of customers flooded the SVC Bank -- earlier known as 'Shamrao Vithal Cooperative Bank' -- wanting to know the status and safety of their deposits. Hoping to allay their clients' apprehensions, the SVC Bank issued a statement late on Saturday pointing to the case of a 'mistaken' identity and clarifying that it had no links with the SVB, USA, and even threatened legal action against mischief mongers.
India-Australia agree to further enhance bilateral trade relations
Commerce Minister Piyush Goyal and Australia's trade minister Don Farrell met to discuss next steps for further enhancing the bilateral economic relationship. They discussed implementation of the economic cooperation and trade agreement (ECTA), negotiations for the India-Australia Comprehensive Economic Cooperation Agreement (CECA) and further developing two-way investment.
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