Reuters

Exclusive: India’s Snapdeal to Shelve $152 Million IPO Amid Tech Stocks Rout

SoftBank-backed Indian e-commerce firm Snapdeal has decided to pull the plug on its $152 million IPO, the company told Reuters, making it the latest casualty of a meltdown in tech stocks that has soured investor sentiment. Snapdeal filed its initial public offering (IPO) regulatory papers for approval in December 2021, a year that saw many […]

Saudi Arabia Signs Huawei Deal, Deepening China Ties on Xi Visit

Saudi Arabia and China showcased deepening ties with a series of strategic deals on Thursday during a visit by President Xi Jinping, including one with tech giant Huawei, whose growing foray into the Gulf region has raised U.S. security concerns. King Salman signed a “comprehensive strategic partnership agreement” with Xi, who received a lavish welcome […]

Stolen Data of 600,000 Indians Sold on Bot Markets So Far - Study

Around five million people globally have had their data stolen and sold on the bot market till date, of which 600,000 are from India, making it the worst affected country, according to one of the world’s largest VPN serice providers NordVPN. Bot markets are used by hackers to sell stolen data from victims’ devices with […]

Recession Worries Could Support Dollar After Monstrous 2022 Rally

A breathtaking surge in the U.S. dollar trampled foreign currencies, gouged corporate profits and gave investors one of the year’s few winning trades. Though the greenback has stumbled in recent weeks, recession worries may keep it elevated in 2023. At its September peak, the dollar stood at its highest level in nearly two decades after […]

EU Steps up WTO Case Against China over Patents, Lithuania

The European Commission said on Wednesday it had requested the formation of adjudicating panels at the World Trade Organization, the next step in two trade disputes with China after failing to resolve them bilaterally. The disputes, both brought to the WTO at the beginning of the year, concern alleged Chinese restrictions on EU companies’ rights […]

China’s Xi on ‘Epoch-Making’ Visit to Saudi as Riyadh Chafes at U.S. Censure

Chinese President Xi Jinping began a visit to Saudi Arabia on Wednesday that Beijing said marked its biggest diplomatic initiative in the Arab world, as Riyadh expands global alliances beyond a long-standing partnership with the West. The meeting between the global economic powerhouse and Gulf energy giant comes as Saudi ties with Washington are strained […]

S&P Posts 4th Straight Decline as Recession Talk Weighs on Wall Street

Wall Street ended lower on Tuesday, with the S&P 500 extending its losing streak to four sessions, as skittish investors fretted over Federal Reserve rate hikes and further talk of a looming recession. Meta Platforms Inc dragged down markets, with its shares sliding 6.8 percent following reports that European Union regulators have ruled the company […]

Exclusive: Goldman Sachs on Hunt for Bargain Crypto Firms After Ftx Fiasco

Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, Mathew McDermott, Goldman’s […]

Exclusive: Google Launches Anti-Misinformation Campaign in India

Google’s Jigsaw subsidiary is launching a new anti-misinformation project in India, aimed at preventing misleading information that has been blamed for inciting violence, a top executive said. The initiative will use “prebunking” videos – designed to counter false claims before they become widespread – circulated on the company’s YouTube platform and other social media sites. […]