Business
November 16, 2024
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UK Pizza Hut to raise funds after Budget tax hikes

The operator of Pizza’s Hut restaurants in the UK is looking to raise more than £10m to help it cope with increased costs after tax rises on business were announced in last month’s Budget. The money could come from a sale of part of the business, or new investment from existing shareholders. It comes amid […]

Business
November 16, 2024
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McDonald's invests $100 million to recover from E. coli outbreak

Fast food giant McDonald’s is investing $100 million to bring back customers after an E. coli outbreak linked to onions in its Quarter Pounder hamburgers. The investment includes $65 million allocated directly to the franchises most affected by the outbreak, the company stated.The US Centers for Disease Control and Prevention had earlier stated that slivered […]

Business
November 16, 2024
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Canara Bank classifies Reliance Communications accounts as fraud

NEW DELHI: Canara Bank has classified the accounts of Reliance Communications and its subsidiary Reliance Telecom as “fraud”, as disclosed in a BSE filing. However, RCom which is currently under corporate insolvency resolution process, stated that this classification is not anticipated to affect the company.“This is to inform you that company and its subsidiary Reliance […]

Business
November 16, 2024
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Delhi-NCR is 6th costliest office market in Asia Pacific, Mumbai ranks 8th

NEW DELHI: Delhi-NCR ranks as the sixth costliest office location in the Asia Pacific region, with average monthly rentals of Rs 340 per sq ft, whilst Mumbai holds the eighth position, according to Knight Frank India‘s latest Asia-Pacific Prime Office Rental Index for Q3. Hong Kong SAR maintains its position as the region’s most expensive […]

Business
November 16, 2024
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FPIs sold equities worth Rs 2,426 crore this week

NEW DELHI: Foreign portfolio investors (FPIs) exodus from the Indian equity market slowed down to RS 2,426 crore during the second week of November, according to the data of National Securities Depository Limited (NSDL) data. FPIs have withdrawn Rs 22,420 crore in November thus far, with Rs 19,994 crore sold in the first week. This […]

Business
November 16, 2024
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Govt dismisses possibility of a mini-budget as IMF unscheduled visit ends

The federal government has dismissed the possibility of a mini-budget following the conclusion of the International Monetary Fund’s (IMF) visit to Pakistan, denying reports of additional tax measures. The development comes after the IMF’s mission — led by Nathan Porter — concluded a staff visit to Pakistan from November 12 to 15. “The discussions with […]

Business
November 16, 2024
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Gold Prices Dip 6% Amid Stronger Dollar And US Inflation Concerns

New Delhi: Gold prices have witnessed a significant decline of around 6 per cent since Diwali, driven by a stronger dollar and concerns over US inflation data. The rate of 24-carat gold per 10 grams, which stood at Rs80,710 on November 1, dropped to Rs75,920 on Saturday. This sharp correction reflects ongoing global economic pressures […]