Amazon likely to layoff 20,000 staff in upcoming months: Reports
E-commerce hub Amazon might lay off around 20,000 employees, including corporate executives, in the upcoming months, media reports said on Wednesday.
Finance
RBI hikes repo rate by 35 basis points
Mumbai: The Reserve Bank of India on Wednesday announced that the repo rate has been hiked by 35 basis points to 6.25 percent.
Govt says foreign funds allowed to own 51 pc stake in IDBI Bank: Report
New Delhi/IBNS: The Centre will allow a consortium of foreign funds and investment firms to buy and own over 51 percent of IDBI Bank Ltd, the government clarified on Tuesday, said a media report.
Total coal output up 11.66 pc in Nov to 75.87 MT
New Delhi: India’s total coal production increased by 11.66 percent to 75.87 Million Tons (MT) from 67.94 MT during November 2022 as compared to November 2021, the Ministry of Coal said Tuesday.
4-lane Dimapur to Kohima Road to be completed this year: Nitin Gadkari
New Delhi/IBNS: The 4-lane Dimapur to Kohima Road (Package-I) in Nagaland will be completed this year, Union Road Transport Minister Nitin Gadkari said Tuesday.
Axis Mutual Fund launches ‘Axis Long Duration Fund’
New Delhi: Axis Mutual Fund, one among the fastest growing fund houses in India, announced the launch of their New Fund Offer – Axis Long Duration Fund.
UPI transactions witnesses 650 pct rise at semi-urban and rural stores: PayNearby
New Delhi: PayNearby,a branchless banking and digital network,on Tuesday said that there was a growth of 25 percent and 14 percent in value and volume respectively, in assisted financial transactions across semi-urban and rural retail counters in India in 2022.
Rupee down 43 paise against USD
Mumbai/UNI: The Rupee on Tuesday slid 43 paise, breaching 82 level at 82.22 against the US Dollar on rising demand for US Dollars by bankers and importers, dealers at Foreign Exchange said.
Tork Motors partners with CREDR to facilitate exchanges of used two-wheelers while buying Kratos
Pune: India’s first and fast-growing electric motorcycle manufacturer, Tork Motors has partnered with CredR for a first-of-its-kind offer for an electric two-wheeler.
SBI surpasses Rs. 5 trillion personal banking advances
New Delhi: The State Bank of India surpassed the milestone of Rs. 5 Trillion Personal Banking Advances on November 30, 2022.
ICAO finds SpiceJet’s operations, safety processes 'strong'
New Delhi/UNI: SpiceJet on Monday said that the International Civil Aviation Organisation (ICAO) has found the operations, safety processes and systems of the budget carrier 'strong' in its audit.
Govt notifies electoral bond scheme 2018
New Delhi: The government on Saturday notified the electoral bond scheme 2018.
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Former RBI Gov Raghuram Rajan says central bankers should gear up for low inflation: Report
Former Reserve Bank governor Raghuram Rajan Friday warned that the global economy could go back to a low inflation regime and central bankers implementing restrictive monetary policies should keep that in mind, according to a Bloomberg report.
Power Ministrywaives inter-state transmission charges for new hydro-power projects
New Delhi/IBNS: The Power Ministry Friday announced a waiver of Inter-State Transmission system (ISTS) charges on the transmission of electricity generated from new hydro-power projects for 18 years.
Civil Aviation Ministry notifies op guidelines for drone PLI scheme
New Delhi: The Civil Aviation Ministry Friday notified the operational guidelines for the Production Linked Incentive (PLI) scheme for drones and drone components.
MOIL's Nov manganese output grows 60 pc
New Delhi/IBNS: With a production of 1.2 lakh tones of Manganese ore in November 2022, state-owned miner MOIL has registered a significant growth of 60 percent over the previous month, the Ministry of Steel said Friday.
NPCI extends 30 pc UPI volume cap deadline for payment firms by 1 yr
New Delhi/IBNS: The National Payments Corporation of India (NPCI) has extended the deadline for Unified Payments Interface (UPI) players to comply with a market cap of 30 percent by two years to December 31, 2024.
Coal prodn increases 17.3 pc to 524.20 MT in Apr-Nov period
New Delhi/IBNS: India’s coal production increased impressively by 17.13 percent to 524.20 Million Ton (MT) during April –November 2022 as compared to 447.54 MT production during the same period of the previous year, the Ministry of Coal said Friday.
SLCM wins prestigious FICCI - 2nd Sustainable Agriculture Awards 2022
Kolkata: Sohan Lal Commodity Management (SLCM), India’s leading comprehensive service provider in the global post-harvest space for agricultural commodities has received the prestigious “Sustainable Agriculture Awards” 2022 from FICCI, India’s oldest and largest industry association catering to diverse business domains.
Railways revenue earnings up by 76 percent in passenger segment
New Delhi: The total approximate earnings of Indian Railways on originating basis during April to November 2022 is Rs. 43324 Crore, registering an increase of 76 per cent in comparison to Rs. 24631 Crore achieved during the same period last year.
ASSOCHAM urges RBI to begin halt in rate hikes
New Delhi: Ahead of the bi-monthly meeting of the RBI’s Monetary Policy Committee (MPC), the ASSOCHAM has urged the MPC to moderate interest rate hikes.
Elon Musk suspends Kanye West's Twitter account for violating 'rule against incitement to violence'
Washington/UNI: Twitter owner and US billionaire Elon Musk said on Friday that he suspended the Twitter account of American rapper Ye, formerly known as Kanye West, due to another violation of rule against incitement to violence following his now-deleted tweet featuring a swastika.
Coal transport via sea route to begin for west coast states after success in eastern region
New Delhi/IBNS: Various Central ministries are working together to transport coal to power plants via sea route to prevent a fuel and power crisis similar to the summer of 2022, media reports said.
Britannia enters JV with France's Bel SA; eyes expansion, new markets in cheese segment: Reports
Mymbai: Bakery and dairy products maker Britannia Industries recently entered a joint venture with Bel SA of France to boost its cheese business and foray into some neighbouring markets, ET report.
JSL to set up stainless steel industrial park in Odisha
Bhubaneswar/IBNS: Odisha Chief Minister Naveen Patnaik and Jindal Stainless MD Abhyuday Jindal Thursday laid the foundation stone of a stainless steel industrial park through a virtual ceremony held in Bhubaneswar.
Skoda Auto India registers 102 pc jump in Nov. sales
Mumbai/IBNS: Skoda Auto India sold 4,433 units in November this year, resulting in a 102 percent year-on-year (YoY) jump in sales.
RBI begins digital rupee pilot in four cities
Mumbai/IBNS: Reserve Bank of India's (RBI) retail central bank digital currency (CBDC) pilot kicked off on Thursday (Dec. 1), a month after India's central bank launched the wholesale version for the same.
Essar Oil UK to build £360 million carbon capture facility at Stanlow refinery
Stanlow (UK): Essar Oil UK Limited Wednesday announced its plan to build a £360 million major new carbon capture plant at its Stanlow refinery in line with its ambition to become a leading low-carbon refinery by 2030, the company said.
SwiftChat collaborates with Google to launch speech-based reading tool
Mumbai/UNI: Conversational AI platform SwiftChat and Google Thursday launched Read Along, a speech-based reading tool, as a bot on their platform.