Business

MUMBAI: Digital entertainment startup Kuku Technologies has confidentially filed for IPO, said people aware of the matter. The company is seeking to raise up to Rs 3,500 crore ( up to $360 million) through a mix of fresh issue of shares and an offer for sale. Eyeing a listing later this FY, Kuku is targeting…

India is set to hit the accelerator on its ethanol drive, laying the groundwork for a wider ethanol fuel network as it looks to cut down dependence on imported fossil fuels. Under the plan, ethanol dispensing stations will begin appearing in several cities, with the network set for a sharp expansion over the next two…

India’s push for flex-fuel vehicles can help meet twin national goals of cutting crude oil imports and reducing carbon emissions, but will require a full supporting ecosystem from fuel availability to wider model launches, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Thursday.Speaking at the launch of the company’s first flex-fuel car, Wagon…

Foreign companies are increasingly using India’s booming initial public offering (IPO) market to cash out investments and send billions of dollars back to their home countries rather than raise fresh capital for expansion, according to a Reuters analysis.As per the report, only one of the six foreign-based companies that listed their Indian subsidiaries in Mumbai…

India’s largest airline IndiGo on Thursday announced the temporary suspension of flights to six international destinations, including Hong Kong, Shanghai and Thailand’s Krabi, as it moves to optimise its network amid softer travel demand and rising operating costs.The budget carrier said services to Langkawi, Krabi, Ho Chi Minh City, Hong Kong and Shanghai will be…

The US stock market began trading on a mixed note on Thursday, as a pullback in several artificial-intelligence-linked stocks offset broader gains across the market, while easing oil prices provided support to investor sentiment.The S&P 500 gained 0.02% to 7,555.08 after retreating from its record high a day earlier, while the Nasdaq Composite fell 0.58%…

Oil Marketing Companies (OMCs) continue to face under-recoveries of nearly Rs 700 on every domestic LPG cylinder despite a range of measures taken by the government to strengthen supplies, ministry of petroleum and natural gas said on Thursday.Addressing an inter-ministerial briefing, Sujata Sharma, joint secretary in the ministry of petroleum and natural gas, said that…

India and Venezuela are looking to expand cooperation, particularly in the energy sector, as New Delhi moves to diversify crude oil imports amid supply disruptions linked to the West Asia crisis.Addressing a special media briefing after Prime Minister Narendra Modi’s talks with Venezuelan acting President Delcy Rodriguez, MEA secretary (East) Rudrendra Tandon said discussions focused…

NEW DELHI: LPG sales in May declined by over 19% year-on-year, while petrol and diesel consumption grew 2.8% and 1%, respectively, govt data has revealed.Consumption of aviation fuel registered year-on-year decline of 0.8% in the month.Provisional data from Petroleum Planning and Analysis Cell showed that LPG sales fell to 2.1 million tonnes (MT) in May…

Russia, for the first time, has publicly acknowledged a dip in its oil production this year, even as it assured that the country was continuously stepping up its “export infrastructure to its maximum capacity.”Speaking to reporters at the St Petersburg International Economic Forum on Thursday, deputy Prime Minister Alexander Novak said that current output was…