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Samsung Sees Q1 Profit Beating Estimates as Looming Tariffs Spur Chip, Phone Sales
Samsung Electronics on Tuesday flagged a much smaller-than-feared 0.2 percent fall in first-quarter operating profit. The world's largest memory chipmaker estimated an operating profit of KRW 6.6 trillion ($4.49 billion or roughly Rs. 38,608 crore) for the January-March period, well above a KRW 5.1 trillion (roughly Rs. 29,706 crore) LSEG SmartEst...
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Nvidia's Forecast Dampens AI Enthusiasm in Other Tech Stocks
Nvidia dropped almost seven percent and lost $200 billion (roughly Rs.16,77,898 crore) in stock market value after it forecast third-quarter gross margins that could miss market estimates and revenue that was largely in line. A handful of other AI-related companies shed around $100 billion (roughly Rs. 8,38,948 crore) in combined value.Â
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Bitwise Says Its Bitcoin ETF Collected Highest Inflow on First Trading Day
Crypto asset manager Bitwise said on Friday that $240 million (roughly Rs. 1,990 crore) flowed into its spot bitcoin exchange-traded fund (ETF), the most of the 10 such products that began trading on Thursday. On the first day of trading, $4.6 billion (roughly Rs. 38,100 crore) worth of shares changed hands across all the products, according to LSE...
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Government Restricts Laptop, Tablet and PC Imports With Immediate Effect in Bid to Push Local Manufacturing
Imports of laptops, PCs and tablets have been restricted by the government with immediate effect, a notice said on Thursday. The government is looking to boost local manufacturing and has also extended the deadline for companies to apply for its $2 billion manufacturing incentive scheme.
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Ukraine Approves 2023 Budget With Aim For "Victory Against Russia"
Ukraine's parliament approved the 2023 draft budget with a "record deficit" of $38 billion, a senior parliamentarian said today, describing it as a "budget for victory" against Russia.
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Spotify Launches Audiobook Service for US Users, Set to Lock Horns With Amazon's Audible
Spotify has launched a new audiobook service for users in the US, allowing customers to browse through the service's audiobook catalog on the Spotify app and make purchases through the website. The music streaming service is set to lock horns with Amazon's Audible service as it enters the $4.8 billion (roughly Rs. 38,300 crore) audiobook market whi...
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Britain Sets Out Roadmap for Self Driving Vehicle Usage by 2025, Announces Plans for New Laws, Funding
Britain said on Friday it wanted a widespread rollout of self-driving vehicles on roads by 2025, announcing plans for new laws and GBP 100 million (roughly Rs. 1,000 crore) of funding. The government said it wanted to take advantage of the emerging market for autonomous vehicles, which it valued at 42 billion pounds and estimated could create 38,00...
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Lenovo India Posts Growth in Annual Revenue, Computer Shipment Increased by 20.5 Percent
Lenovo India has recorded 38 percent increase in its annual revenue. The PC maker’s revenue has reached $2.2 billion (roughly Rs. 17,000 crore) in the financial year ended March 2022.
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Twitter Reportedly to Pay $150 Million to US to Settle Allegations it Misused Private Information
Twitter has reportedly agreed to pay $150 million to settle allegations it misused private information, like phone numbers, to target advertising after telling users the information would be used for security reasons, according to court documents filed on Wednesday.
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Elon Musk Offers To Buy Twitter For $41 Billion
Musk's offer price of $54.20 per share represents a 38% premium to Twitter's April 1 close.
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Smartphone Market in India Saw Best-Ever Results in 2021, Revenue Marked 27 Percent YoY Growth: Counterpoint
Smartphone shipments and revenue in India grew the highest in 2021, according to Counterpoint. While Xiaomi maintained its leadership in the smartphone market in India, Samsung registered its highest-ever retail average selling price in the year. Shipments of 5G phones in the country also marked its largest-ever growth in 2021.
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Gold Imports Surge Two-Folds To $38 Billion In April-December 2021
India's gold imports doubled to $38 billion during April-December period of the current fiscal owing to higher demand
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Coinbase, Hit by Declining Cryptocurrency Prices, Falls Short on Revenue as Trading Volumes Slump 30 Percent
Coinbase cryptocurrency exchange reported a nearly 30 percent fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices for Bitcoin and other cryptocurrencies.
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Huawei’s Smartphone Business Remains Crippled Due to US Sanctions, Revenue Slides in Q3
Huawei’s revenue plummeted 38 percent in the third quarter compared to the same period a year earlier, with US sanctions having hobbled its smartphone business and new potential growth areas still in their infancy.
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Zomato Raises $1.26 Billion In IPO At Upper End Of Price Band: Report
Zomato's IPO was strongly backed by investors attracting bids worth $46.3 billion as it was more than 38 times oversubscribed when the books closed on Friday
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Samsung Sees Q1 Profit Beating Estimates as Looming Tariffs Spur Chip, Phone Sales
Samsung Electronics on Tuesday flagged a much smaller-than-feared 0.2 percent fall in first-quarter operating profit. The world's largest memory chipmaker estimated an operating profit of KRW 6.6 trillion ($4.49 billion or roughly Rs. 38,608 crore) for the January-March period, well above a KRW 5.1 trillion (roughly Rs. 29,706 crore) LSEG SmartEst...
-
Nvidia's Forecast Dampens AI Enthusiasm in Other Tech Stocks
Nvidia dropped almost seven percent and lost $200 billion (roughly Rs.16,77,898 crore) in stock market value after it forecast third-quarter gross margins that could miss market estimates and revenue that was largely in line. A handful of other AI-related companies shed around $100 billion (roughly Rs. 8,38,948 crore) in combined value.Â
-
Bitwise Says Its Bitcoin ETF Collected Highest Inflow on First Trading Day
Crypto asset manager Bitwise said on Friday that $240 million (roughly Rs. 1,990 crore) flowed into its spot bitcoin exchange-traded fund (ETF), the most of the 10 such products that began trading on Thursday. On the first day of trading, $4.6 billion (roughly Rs. 38,100 crore) worth of shares changed hands across all the products, according to LSE...
-
Government Restricts Laptop, Tablet and PC Imports With Immediate Effect in Bid to Push Local Manufacturing
Imports of laptops, PCs and tablets have been restricted by the government with immediate effect, a notice said on Thursday. The government is looking to boost local manufacturing and has also extended the deadline for companies to apply for its $2 billion manufacturing incentive scheme.
-
Ukraine Approves 2023 Budget With Aim For "Victory Against Russia"
Ukraine's parliament approved the 2023 draft budget with a "record deficit" of $38 billion, a senior parliamentarian said today, describing it as a "budget for victory" against Russia.
-
Spotify Launches Audiobook Service for US Users, Set to Lock Horns With Amazon's Audible
Spotify has launched a new audiobook service for users in the US, allowing customers to browse through the service's audiobook catalog on the Spotify app and make purchases through the website. The music streaming service is set to lock horns with Amazon's Audible service as it enters the $4.8 billion (roughly Rs. 38,300 crore) audiobook market whi...
-
Britain Sets Out Roadmap for Self Driving Vehicle Usage by 2025, Announces Plans for New Laws, Funding
Britain said on Friday it wanted a widespread rollout of self-driving vehicles on roads by 2025, announcing plans for new laws and GBP 100 million (roughly Rs. 1,000 crore) of funding. The government said it wanted to take advantage of the emerging market for autonomous vehicles, which it valued at 42 billion pounds and estimated could create 38,00...
-
Lenovo India Posts Growth in Annual Revenue, Computer Shipment Increased by 20.5 Percent
Lenovo India has recorded 38 percent increase in its annual revenue. The PC maker’s revenue has reached $2.2 billion (roughly Rs. 17,000 crore) in the financial year ended March 2022.
-
Twitter Reportedly to Pay $150 Million to US to Settle Allegations it Misused Private Information
Twitter has reportedly agreed to pay $150 million to settle allegations it misused private information, like phone numbers, to target advertising after telling users the information would be used for security reasons, according to court documents filed on Wednesday.
-
Elon Musk Offers To Buy Twitter For $41 Billion
Musk's offer price of $54.20 per share represents a 38% premium to Twitter's April 1 close.
-
Smartphone Market in India Saw Best-Ever Results in 2021, Revenue Marked 27 Percent YoY Growth: Counterpoint
Smartphone shipments and revenue in India grew the highest in 2021, according to Counterpoint. While Xiaomi maintained its leadership in the smartphone market in India, Samsung registered its highest-ever retail average selling price in the year. Shipments of 5G phones in the country also marked its largest-ever growth in 2021.
-
Gold Imports Surge Two-Folds To $38 Billion In April-December 2021
India's gold imports doubled to $38 billion during April-December period of the current fiscal owing to higher demand
-
Coinbase, Hit by Declining Cryptocurrency Prices, Falls Short on Revenue as Trading Volumes Slump 30 Percent
Coinbase cryptocurrency exchange reported a nearly 30 percent fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices for Bitcoin and other cryptocurrencies.
-
Huawei’s Smartphone Business Remains Crippled Due to US Sanctions, Revenue Slides in Q3
Huawei’s revenue plummeted 38 percent in the third quarter compared to the same period a year earlier, with US sanctions having hobbled its smartphone business and new potential growth areas still in their infancy.
-
Zomato Raises $1.26 Billion In IPO At Upper End Of Price Band: Report
Zomato's IPO was strongly backed by investors attracting bids worth $46.3 billion as it was more than 38 times oversubscribed when the books closed on Friday
