US economy expands by robust 4.9% in Sept qtr

PTI

Washington

The US economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace. The Commerce Department said the economy expanded last quarter at the fastest pace in more than two years — and more than twice the 2.1% annual rate of the previous quarter. AP

Optiemus, Corning to make smartphone glasses in India

New Delhi

Optiemus Infracom Ltd and Corning International Corporation will manufacture 30 million pieces of high-quality finished cover glass parts for smartphones and employ over 500 people in India. This was announced by Union Minister for Electronics and Information technology Ashwani Vaishnaw. TNS

Ola Electric raises Rs 3,200 cr to fund electric vehicle biz

New Delhi

Ola Electric on Thursday said it has raised Rs 3,200 crore from Temasek-led investors and SBI. The funds raised would be utilised towards expansion of Ola’s EV business and setting up India’s first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu, it said. PTI

PNB reports four-fold jump in Q2 profit at Rs 1,756 cr

New Delhi

Public sector lender Punjab National Bank (PNB) on Thursday reported over four-fold jump in its net profit to Rs 1,756.13 crore in the September quarter. Interest income rose 31% to Rs 26,355 crore during the second quarter of the current fiscal, against Rs 20,154 crore a year ago.

Join Whatsapp Channel of The Tribune for latest updates.

#United States of America USA #Washington