Latest Business News Updates – Sat, 20 Jul 2024
The latest business news updates reveal significant developments in the financial sector. HDFC Bank has reported a 35% increase in net profit for the first quarter, but the concerning news is that their net NPAs have nearly doubled. On the other hand, YES Bank has seen a 47% jump in profit year-on-year, reaching ₹502 crore, with total income up by 18%. Additionally, Kotak Mahindra Bank has witnessed an impressive 81% surge in net profit for the same period.
However, amidst these positive results, there have been some challenges in the banking sector. SBI Unipay users have been facing issues with credit card bill payments due to missing payment options, causing inconvenience for customers. On a global scale, Bitcoin has surged to a one-month high, surpassing $67,000, with expectations of another record run in the near future.
In other news, a UAE supermarket has introduced UPI payments across all its outlets, marking a significant step towards digital transactions. Meanwhile, Warren Buffett’s Berkshire Hathaway has sold a $1.48 billion stake in Bank of America, retaining a substantial portion of shares in the company.
Overall, the financial landscape is experiencing a mix of positive growth and challenges, highlighting the dynamic nature of the business world. Stay tuned for more updates on these developments.
