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Indian expatriates in the UAE are advised to postpone remittances to India as the Indian Rupee (INR) has reached a six-month high. This financial trend may impact the timing and value of money transfers back home, suggesting a strategic approach for those looking to send funds.
IBN reported a net income of INR126.3 billion ($1.5 billion) for Q4 fiscal 2025, an 18% increase year-over-year, driven by higher NII, non-interest income, and loan growth, despite rising operating expenses. HSBC's Q1 2025 pre-tax profit fell 25% to $9.48 billion due to declining revenues and increased credit losses. UBS's Q1 2025 net profit was $1.69 billion, down from $1.76 billion a year earlier, with total revenues dipping 1.4% to $12.6 billion. The firm is progressing with the integration of Credit Suisse, achieving significant cost savings.
IBN reported a rise in net interest income and growth in loans and deposits, despite facing higher operating expenses. HSBC's first-quarter pre-tax profit fell 25% to $9.48 billion due to declining revenues and increased credit losses. UBS Group's net profit dipped to $1.69 billion, with total revenues down 1.4% year over year, while the company progresses with the integration of Credit Suisse, achieving significant cost savings.
UBS has adjusted its price target for First Solar, Inc. to $235 from $240 while maintaining a Buy rating. The company focuses on the design, manufacturing, and marketing of photovoltaic solar modules, with 99.9% of net sales coming from module sales, primarily in the United States (92.8%).
QNu Labs has secured INR 60 crore in funding from the National Quantum Mission and other sources. This investment highlights the growing support for quantum technology initiatives in India, positioning QNu Labs as a key player in the sector.
Anveshan has successfully raised INR 48 crore in its Series A funding round. This significant investment marks a pivotal moment for the company as it seeks to expand its operations and enhance its market presence. The funding will support Anveshan's growth initiatives and innovation strategies.
IndiaMart reported a remarkable 81% increase in its Q4 profit, reaching $21.8 million. This significant growth highlights the company's strong performance in the market, reflecting its successful strategies and operational efficiency.
IndiaMart reported an 81% year-on-year increase in Q4 FY25 profit, reaching ₹180.6 crore (US$21.75 million), driven by revenue growth and improved EBITDA margins. However, the company faced significant supplier retention challenges, losing 3,715 paying suppliers in the previous quarter, raising concerns about sustainability despite strong financial performance. The platform's focus has shifted towards optimizing supplier quality, reflecting the evolving landscape of B2B marketplaces in India.
Apple has commenced production at a new iPhone facility in Tamil Nadu, India, operated by Tata Electronics, focusing on older models. A second plant by Foxconn in Bengaluru, set to produce iPhone 16 models, will create up to 50,000 jobs by 2027. As India now accounts for 18% of global iPhone production, Apple aims to manufacture most US-sold iPhones there by 2026, amid ongoing US-China trade tensions reshaping global supply chains.
Laptop manufacturer Primebook has secured $2 million in a pre-series A funding round, with contributions from Inflection Point Ventures, Auxano Capital, and individual investors. The funds will be used for research and development, product innovation, and enhancing after-sales service, as the company capitalizes on the growing demand for affordable computing devices in India's education sector.Primebook's sales of 35,000 units at competitive price points highlight its market traction, positioning it against established players like HP and Lenovo. The funding structure, combining equity and debt, reflects a strategic approach to growth, emphasizing the importance of clear market validation in early-stage investments.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Indian expats in UAE advised to delay remittances as rupee strengthens
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Primebook secures 2 million dollars in pre-series A funding round
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