Deteriorating finances in Mumbai — whose budget is bigger than several of the states — bodes ill for India’s economic revival because local expenditure has a bigger impact than that by Prime Minister Narendra Modi’s administration. Mumbai’s municipal body expects income on its rS 786.7 billion of investments to drop 11% due to lower bank interest rates in the next Read More

LOS ANGELES (Reuters) – Uber Technologies Inc’s restaurant delivery business has grown revenue to $1.5 billion in just three years, the company disclosed in its IPO filing on Thursday, dwarfing the revenue of its profitable, and already public, rival Grubhub Inc.   A woman tries UberEats’ application on a tablet at the launching event of food-delivery service UberEats in Tokyo, Read More

Indiabulls Real Estate expects to garner a sales revenue of over Rs 30,000 crore from its 14 ongoing projects, being developed mainly in Delhi-NCR and Mumbai, the company said. In his message to shareholders in the annual report, Indiabulls Real Estate Chairman Sameer Gehlaut said the company has a well-diversified presence in both commercial and housing segments. “With the recovery Read More

In 2016-17, Oberoi Realty generated a revenue of Rs320 crore from its leased commercial assets, accounting for about 27% of its overall revenue. Mumbai: Oberoi Realty Ltd expects to generate rental revenue of around Rs1,000 crore in the next three years from its existing and upcoming commercial portfolio, a top executive said. The company, India’s second largest builder by market Read More

Apple reported strong quarterly results ahead of the iPhone X launch on Friday, with iPhone sales at 46.7 million unit, up from 45.5 million in the year-ago quarter. The company posted quarterly revenue of $52.6 billion (roughly Rs. 3,39,595 crores), an increase of 12 percent year-over-year (YoY), with international sales accounting for 62 percent of the revenue. India revenue doubled year-over-year, though the Read More

Ride-hailing service Uber Technologies Inc generated $6.5 billion (roughly Rs. 41,914 crores) in revenue last year and its gross bookings doubled to $20 billion (roughly Rs. 1,28,964 crores), the company said on Friday. Its adjusted net loss was $2.8 billion (roughly Rs. 18,054 crores), excluding the operation in China it sold last year, Uber said. As a private company, now Read More

Shares of Apple Inc rose 1 percent on Thursday after German supplier Dialog Semiconductor Plc said its quarterly revenue were higher than expected, adding to recent enthusiasm about demand for the newest iPhone. With global demand for smartphones on the wane, Apple is counting on the iPhone 7 to help wrest market share from rival Samsung Electronics Co Ltd and Read More