Microsoft has acquired gaming start-up PlayFab for an undisclosed sum and will integrate its services into Azure platform to help developers build better games. PlayFab powers more than 1,200 live games and has served over 700 million players. “Together, Azure and PlayFab will further unlock the power of the intelligent cloud for the gaming industry, enabling game developers and delighting gamers around the world,” Kareem Choudhry, Corporate Vice President of gaming at Microsoft, said in a blog post.

Reliance Communications (RCom) announced on Monday that its planned exit from the consumer business has resulted in a sharp drop in the company’s consolidated net loss sequentially to Rs 130 crore for the three months ended December 31, 2017 from a net loss of Rs 2,712 crore in the July-September 2017 period.

Mortgage lender Housing Development Finance Corporation (HDFC) on Monday reported a 233% year-on-year (y-o-y) jump in its standalone net profit for the December quarter at Rs 5,670.21 crore, driven largely by a one-time gain of Rs 3,675.31 crore from the sale of its stake in HDFC Standard Life Insurance Company. Adjusted for the one-time gain, the company’s performance exceeded expectations of analysts, based on Bloomberg collated data. HDFC’s net interest income (NII) for the quarter came in at Rs 2,929 crore against Rs 2,575 crore in the same quarter last year, a rise of 14%.

Yes Bank on Monday priced its five-year dollar bonds at 130 basis points over the five-year US Treasury yield, sources aware of the deal confirmed to FE. The bank is believed to have raised $600 million through the issue, which is the first foreign currency bond offering by the lender. The initial price guidance on the bonds was 150 basis points over the Treasury yield, according to sources. This means the spread narrowed by 20 basis points, which is considered a significant compression for a debut issuer, a banker said.

MUMBAI | NEW DELHI: The government's push towards a digital economy has been a sore point for one of its own and among the country's biggest ecommerce firms, the Indian Railway Catering and Tourism Corporation (IRCTC).

The government's decision in November 2016 to withdraw service charge on etickets, to promote digital payments, cost IRCTC a 26% drop in internet ticketing revenue to Rs 466.05 crore in financial year 2016-17.

NEW DELHI: India's largest carmaker Maruti Suzuki will start making its first affordable electric vehicle (EV) by 2020 based on technology from parent Suzuki Motor, ahead of products developed in partnership with Toyota.

The company and its parent are focusing on in-house capabilities but are also looking for partners to put in place the ecosystem for electric vehicles, Maruti Suzuki managing director Kenichi Ayukawa told ET in an interview. The Japanese carmaker will not rely solely on its partner Toyota's expertise to build EVs from the ground up.

National carrier Air India has always been the worst in punctuality, but now that ignominy has passed to Jet Airways in India. It got the tag of the worst on-time performance in eight out of 12 months in 2017, with as many as a third of its departures delayed.

Jet Airways and Jet Lite carried 20.7 million domestic passengers in 2017. For the businessmen, industrialists, corporates and other frequent flyers among this lot, Jet's poor punctuality record has turned flying into a pain.

Key indices on Tuesday opened in red. The 30-share BSE Sensex was down 82.24 points at 36,201.01 and the 50-share NSE Nifty fell 40.20 points to 11,090.20.

At 9:31 AM, Sensex was trading low at 36,207.72 points while Nifty fell 0.35% to trade at 11,091.70 points.

Riding on a powerful performance by centurian Shubman Gill, India on Tuesday thrashed arch-rival Pakistan by 203 runs in Under-19 World Cup Semi Final to set up a final clash against Australia. India bundled out Pakistan for just 69 after setting a target of 273 runs. Gill, 102 not out, hit 7 boundaries in his 94-ball innings as Rahul Dravid's boys took the scoreboard to 272/9 at the end of 50 overs.

Anil Ambani-controlled Reliance Infrastructure Ltd on Monday said it has received the Letter of Award (LOA) from the National Highways Authority of India (NHAI) for Rs 8.82 billion on a engineering, procurement and construction (EPC) basis.

RInfra added the company emerged as the lowest bidder for the project after quoting a bid of Rs 8.82 billion for the project for the six-laning of Aurangabad to Bihar–Jharkhand border (Chordaha) section of NH-2 in Bihar.

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