Business and financial news
Paris: French luxury goods tycoon Bernard Arnault, who heads mega-corporation LVMH Moet Hennessy Louis Vuitton (LVMH), has edged US entrepreneur Elon Musk out of the top of Forbes' list of the world's richest billionaires this year, the magazine reported on Tuesday.
Industry experts believe that Indian smartphone export is likely to have crossed USD 10 billion (over Rs 82,000 crore) in the just-ended financial year 2023.
New Delhi: India and Malaysia can now settle their trade in Indian Rupee (INR) in addition to the current modes of settlement in other currencies, the government announced on Saturday.
New Delhi: The gross GST revenue collected in the month of March 2023 is Rs. 1,60,122 crore of which CGST is Rs. 29,546 crore, SGST is Rs. 37,314 crore, IGST is Rs. 82,907 crore (including Rs. 42,503 crore collected on import of goods) and cess is Rs. 10,355 crore (including Rs. 960 crore collected on import of goods).
New Delhi: In the financial year 2022-2023, procurement of goods and services from government portal Government e Marketplace (GeM) has crossed the Rs 2 lakh crore mark, which is a remarkable achievement, said Union Commerce and Industry Minister Piyush Goyal, in Mumbai on Saturday.
New Delhi: The Ministry of Finance issued the Gazette Notifications for Mahila Samman Savings Certificates, 2023 and has been made available in 1.59 lakh post offices with immediate effect.
New Delhi: Public sector Union Bank of India has operationalised the mechanism to allow Indian and Malaysian traders to invoice and settle the trade in Indian Rupee (INR).
New Delhi: The government on Friday announced hike in interest rates on various small savings schemes such as Senior Citizens Savings scheme, Sukanya Samriddhi Account and National Savings Certificate by upto 70 basis points for April-June quarter (Q1) of financial year 2023-24.
New Delhi/UNI: The oil marketing companies on Saturday slashed prices of cooking gas cylinders about Rs 92 per cylinder.
New Delhi: A direct flight between Indore and Sharjah on Friday was flagged off today by Civil Aviation Minister Jyotiraditya Scindia.
Mumbai: Zee Entertainment Enterprises Ltd (ZEEL) on Thursday announced that it has reached a one-time settlement agreement with Standard Chartered Bank in connection with the credit availed by Siti Networks, a subsidiary of the Essel Group, media reports said.
New Delhi: Authum Investments and Infrastructure has completed the takeover of Reliance Home Finance, following the Supreme Court's ruling against Bombay HC's order from December 2022, according to media reports.
New Delhi: India on Friday introduced a "dynamic and adaptable" Foreign Trade Policy (FTP) that will remain in effect indefinitely from April 1 with the objective to attain $2 trillion in goods and services exports by 2030, while also promoting trade settlements in rupees and following the worldwide principle of not exporting duties.
Mumbai: India's foreign exchange reserves jumped $5.98 billion to $578.78 billion as on March 24, 2023, Reserve Bank of India (RBI) data showed on Friday.
New Delhi/IBNS: State-run power generator NTPC has registered the highest-ever output of 400 BU in FY23, a growth of 10.80% vis-à-vis the previous year, according to an official statement.
New Delhi: Air India introduces an all-new Premium Economy experience for travellers, offering a superior cabin product, world-class inflight services, and added on-ground convenience.
Tezpur: Locals have cultivated a large variety of vegetables at an agricultural facility in the Pabhoi region in Biswanath of Assam.
New Delhi: The combined Index of Eight Core Industries (ICI) increased by 6.0 per cent (provisional) in February 2023 as compared to the Index of February 2022.
New Delhi: Last year, the Reserve Bank of India, permitted cross-border inbound Bill Payments to be received under the rupee drawing arrangement (RDA) through the Bharat Bill Payment System (BBPS).
New Delhi: Over 10.97 million mobile numbers were seeded in Aadhaar following requests from residents in the month of February 2023, a jump of more than 93 per cent over the previous month, the Indian government said on Friday.
New Delhi: Telecommunication major Bharti Airtel and India Post Payments Bank (IPPB) on Friday announced the launch of WhatsApp Banking Services for IPPB customers, enabling them to access banking services on their mobile phone.
Mumbai/Kolkata: Bandhan Bank, one of the fastest-growing banks in the country, announced the opening of 50 branches on the last day of the financial year.
Kolkata: The US Consulate Kolkata collaborated with KIIT Technology Business Incubator to host a three-day 'Regional Startup Network (RSN)' advanced workshop at the American Center, starting on Thursday, to build entrepreneurial capacities of select startups from India, Nepal, Bhutan, and Bangladesh.
Bengaluru: IT veteran Venkatraman Umakanth, Senior Vice President, Vee Technologies has been named as the ‘Small and Medium Business CTO of the Year’ at the IT4SMB summit that highlighted the changing landscape of technology and its transformational power held at Bengaluru recently.
Mumbai/London: Essar Energy Transition’s (EET) Vertex Hydrogen project has been chosen as part of one of the two hydrogen plants that will bolster the UK’s hydrogen economy.
New Delhi: India’s agricultural export registered an increase of 6.04% to $43.37 billion during April 2022 to January 2023 compared to the same period in the previous fiscal.
Moscow/IBNS: Rosneft, the Russian energy company, revealed a new agreement Wednesday to increase its oil exports to India, in an effort to find alternative markets due to the strained relations with Western countries over the Ukraine conflict.
New Delhi: The government has decided to borrow Rs 8.8 lakh crore via bonds from the market in the first half of the financial year 2023-24 starting April 1.
Delhi: Jindal Steel and Power has approached the Delhi High Court against the grant of an Odisha coal block alleging that it was “unfairly” prevented from filing a higher bid, media reports said.
New Delhi/IBNS: Tax deducted at source on payments made upon transfer of Virtual Digital Assets (VDA) stood at Rs 157.9 crore as of March 20 for FY23, according to the Ministry of Finance.
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