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Global Capability Centers (GCC), or captive technology facilities of large global lenders and MNCs, such as Citi, Deutsche Bank and T-Systems, are strengthening their Indian presence in their 2.0 avatar after having partially scaled down operations in the country around 10-15 years ago. The global captives had sold a part or even their entire operations to Indian IT companies, mostly during the global financial crisis, to focus on core operations instead. But they now see India as a crucial profit and value-addition centre, helping their global headquarters in finance, supply chain, research and development (R&D) operations, building digital and artificial intelligence (AI) capabilities. Deutsche Bank, which sold their captive to HCLTech in 2004, said its GCC has already onboarded over 2,500 hires so far this year and expects the trend to continue in the similar range for the rest of the year.

Through successful fundraising, acquisitions and a marketing campaign to lure financial advisors put off by the pending Charles Schwab-TD Ameritrade mega-merger, Altruist has established itself as a significant player on the asset custody market with ambitions to grow even larger.

British competition regulators have opened a new investigation into Microsoft’s revamped bid to buy video game maker Activision Blizzard

U.S. Secretary of Commerce Gina Raimondo will meet with Chinese officials and American business leaders in Beijing and Shanghai next week amid efforts to stabilize relations that have sunk to historic lows

The Biden administration is spending $150 million to help owners of small parcels of forestland partner with private companies willing to pay them for carbon offsets and other environmental credits

(Reuters) — Teamsters-represented UPS workers voted to approve a five-year labor contract that covers about 340,000 U.S. employees at the parcel delivery firm, the union said on Tuesday.

NCR) during the G20 summit on September 9-10 for seamless movement of 30 leaders, including invitees and their entourages, according to people aware of the matter. The movement of residents of Delhi-NCR could be restricted for three days, from September 8-10, they said, as most of the invitees will arrive in Delhi on September 8 and depart either on September 10 evening or September 11, the people said. While September 9-10 is a weekend, September 8 might be declared a holiday in New Delhi owing to the security arrangements for the event, according to those in the know. Special arrangements are being made for movement of the media covering the G20 summit, they said. More than 20 hotels in the capital have been booked for the visiting leaders — Saudi Arabia, US and China are expected to send big delegations to the event.

MUMBAI : Omnichannel pharmacy chain PharmEasy will raise ₹3,500 crore through a rights issue next week, multiple people aware of the development said, helping it repay a big chunk of its loans to Goldman Sachs. Temasek Holdings, TPG, Prosus, CDPQ, Eight Roads, LGT, Abu Dhabi sovereign wealth fund ADQ, Amansa, OrbiMed and Sunil Kant Munjal’s family office have already committed to invest as much as ₹2,000 crore, one of the people cited above said. Manipal Health Enterprises founder Ranjan Pai’s family office may invest ₹1,200 crore.

coal stock with thermal power plants and Coal India Ltd, coal minister Pralhad Joshi said on Tuesday. Almost 80 million tonnes of coal are available at plants and with the state-owned miner, he wrote on microblogging site X. The minister's comments come in the wake of rising electricity demand because of the humid weather and higher irrigation due to dry spells in some regions.

Magicbricks rental index for the April-June period. While demand grew 18.1% sequentially, supply rose 9.6%. Based on the behaviour and preferences of over 20 million customers on the Magicbricks platform, the report observed that among notable cities, Bengaluru saw rents going up by 8.1%, Navi Mumbai by 7.3% and Gurgaon by 5.1%.

Pakistan's cash-strapped national carrier has grounded 11 aircraft, including three of its Boeing 777s, due to unavailability of funds to carry out replacement of parts. An official in the Pakis-tan International Airlines (PIA) said the top management has grounded 11 planes in the last three years as there was a financial crisis prevailing in the airline and the increase in dollar rates and petroleum products had not helped the situation. The official, who didn't want to disclose his name, said that 11 out of 31 aircraft operated by the PIA on international and domestic routes were grounded at the Karachi and Islamabad airports. «The financial crisis has meant the airlines are not in a position to purchase spare parts since last year leading to the grounding of these aircraft gradually,» he disclosed. The previous government led by Shahbaz Sharif had appointed a new MD in PIA and unveiled its plans to privatise the national airline, an announcement which has been met with fierce resistance from the various unions in the airline. Some of the unions have gone on a strike and the official said this had not helped matters as well. Two of the three wide-body Boeing 777 aircraft were grounded in 2020 and one in 2021.

rice fortification programme before the scheduled target of March 2024, a top food ministry official said on Tuesday. Prime Minister Narendra Modi, in his Independence Day address in 2021, said the government aims to distribute fortified rice via the government schemes by 2024. Thereafter, a scheme for the distribution of fortified rice, containing prescribed micronutrients (Iron, Folic Acid, Vitamin B12) was launched in October 2021 in a phased manner in order to address the problem of anaemia in children and women. In April 2022, the Cabinet Committee on Economic Affairs (CCEA) approved the supply of fortified rice throughout the Public Distribution System (PDS), Integrated Child Development Services (ICDS), Pradhan Mantri Poshan Shakti Nirman-PM POSHAN (erstwhile Mid-Day Meal Scheme) and other welfare schemes in all states and Union Territories (UTs) by 2024 in a phased manner. The entire cost of rice fortification, which is around Rs 2,700 crore per annum, would be borne by the Centre as part of the food subsidy till its full implementation up to June 2024. «We had planned to complete the universalisation of fortified PDS rice by March 2024.

Chandrayaan-3 lander will face a pivotal moment in its mission to achieve a soft lunar landing. During the final 15 minutes of its descent onto the Moon's surface, the lander must transition from a high-speed horizontal position to a vertical one.

The Abhay Narendra Lodha Foundation was established on January 18, 2010, and is a non-profit charitable organization. It was founded by Abhay Lodha, Chairman, Topworth Group, which is primarily in the business of manufacturing steel and iron products. As part of the Foundation’s Environmental, Social, and Governance (ESG) role, the Foundation has undertaken a number of environmental initiatives.

IPO Subscription Status: Pyramid Technoplast IPO was subscribed 18.16 times on day 3, so far. Pyramid Technoplast IPO opened Friday, August 18 and will close today (Tuesday, August 22). Pyramid Technoplast IPO received overwhelming response from non-institutional investors (NIIS) and retail investors on day 3.

the future of healthcare financing but also fostering a healthier and happier society, where essential healthcare products are readily available to everyone," Nikhil Behera, head - business operations, Kenko Health said. Kenko plans to leverage Tata 1mg’s vast supply chain that covers more than 20,000 postal codes.

Galaxy Z Fold 5 smartphones. In India, customers can now purchase the Galaxy Z Flip 5 (256 GB) for an attractive net effective price of ₹85,999, while the Galaxy Z Fold 5 (256 GB) is available for a limited time at a net effective price of ₹1,38,999. For Galaxy Z Flip 5 customers, there is a bank cashback and upgrade bonus totaling ₹14,000.

New Delhi: NLC India Limited has completed the Paravanar River course diversion project, providing flood defence and agricultural prosperity to the region. The Paravanar River previously posed a threat to villages and agricultural lands in its path due to its temporary alignment near Mine-2's cutting face.

I expect to receive around Rs 75 lakh from the sale of an apartment. I do not intend to invest in another property. How do I invest this lump sum in financial instruments? I am 47 years old and want to adopt an aggressive style of investing. Naveen Kukreja, CEO and Co-Founder, Paisabazaar.com: You should first check for possible long-term capital gains (LTCG) tax liability arising from the sale of your apartment.

MUMBAI — Nuvama Wealth Management, the demerged wealth management business of Edelweiss Financial Services, hopes to get listed on the bourses by mid of September, said Ashish Kehair, MD & CEO, Nuvama Group. The company has filed the application for listing with the stock exchanges, and is currently in the process of obtaining the required approvals and clearances. “We anticipate the listing of NWML shares to take place between the end of August and mid-September 2023, subject to regulatory approvals,” Kehair said in an interview with ETMarkets. Edited excerpts:What’s the status of the demerger process as Edelweiss already has NCLT approval?The demerger process was successfully completed following the approval from National Company Law Tribunal (NCLT) on April 27, 2023, which came into effect on May 18, 2023.