Mumbai: The rupee opened on a weak note and declined by 11 paise to 69.61 against the US dollar in opening trade on Friday, as rising crude oil price concerns weighed on investor community.

The rupee opened weak at 69.55 at the interbank forex market and then fell further to 69.61, down 11 paise over its last close. The rupee had settled at 69.50 against the US dollar on Thursday.

A closely watched researcher has cut its estimate of Amazon.com Inc.’s share of the U.S. e-commerce market after incorporating new figures from the company. EMarketer Inc., among the most widely cited sources for estimates of U.S. online retail sales, says it now expects Amazon to account for 37.7% of online commerce this year, down from a prior estimate of 47%. The new market share numbers were reported earlier Thursday by the Information.

National Highways Authority of India (NHAI) is looking to raise around Rs 5,000 crore as it has floated a global bid for the third bundle of Toll-Operate-Transfer (TOT).

Starting Thursday, the bids have been invited by the national highways developing, operating and maintaining agency.

YES Bank on Thursday witnessed a sharp fall in its stock prices after foreign brokerage UBS cut target price.

The stock plummeted 12.96% after UBS cut price target by 47%, as it expects more stress on the bank's asset quality.

Japan's Mitsubishi Aircraft Corp rebranded its Mitsubishi Regional Jet (MRJ) family jets to be called the "SpaceJet" and unveiled a redesigned version of the smaller jet to help improve its sales prospects in the large US market.

The SpaceJet M100, the revamped version of the MRJ70, will now have up to 76 seats in a typical US cabin configuration rather than the earlier 69 seats, the company said on Thursday, making it a more attractive offering for regional carriers with contracts to major carriers.

Ride-hailing firm Ola is taking on Uber by setting up a first-of-its-kind ‘Advanced Technology Center’ at San Francisco, in the United States (US), where rival Uber is headquartered.

Bengaluru-based Ola plans to build a team of more than 150 engineers working out of the centre to develop next-generation technology in mobility.

The Digital Communications Commission, the highest decision-making body in the telecom sector, on Thursday asked the Telecom Regulatory Authority of India (Trai) to review its recommendations on 5G spectrum sale, scheduled to take place in the calendar year to auction 8,644 MHz of airwaves, and make available a higher amount of spectrum, besides approving the rollout of airwaves for 5G trials in 100 days.

Union Agriculture Minister Narendra Singh Tomar has asked state governments to soon complete the enrolment of all farmers under the flagship Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.

Officials said around 90 million farmers are yet to enrol under the expanded PM-KISAN. The scheme was recently tweaked to include all farmers, irrespective of their land holdings.

That Life Insurance Corporation of (LIC) India is losing market share to private insurers hand over fist over the last several years is well known.

The insurance behemoth’s market share in adjusted individual business premium was 42.4% in May, a decline from the previous month.

Google’s Indian-American CEO Sundar Pichai has said that the scale of India’s market has allowed Google to develop new products in the country and take it to the global level, the internet giant’s Indian-American CEO Sundar Pichai has said.

Addressing the India Ideas Summit of US India Business Council (USIBC), Pichai also said that India and the US can lead on standardisation of privacy frameworks for better safeguards against privacy to ensure free flow of digital trade.

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