Business and financial news
New Delhi: UPI payments are now available in the UAE through a partnership between NPCI International Payments Ltd and Network International, a key player in digital commerce across the Middle East and Africa.
New Delhi: The country's coal production surged by 14.49% to 84.63 million tonnes (MT) in June, up from 73.92 MT in the same period last fiscal year, according to the provisional government data.
New Delhi: As the Union Budget 2024 approaches, taxpayers and financial experts are keen to see if new tax deductions will be introduced or existing ones modified.
During the month of June 2024, originating freight loading of 135.46MT has been achieved against loading of 123.06MT in June 2023, which is an improvement of approx 10.07% over the last year, the Ministry of Railways said on Wednesday.
Bengaluru: Indian social media app Koo, once considered a potential future rival to the micro-blogging platform X, has shut down today, is closing down, founder Aprameya Radhakrishna announced on LinkedIn on Wednesday.
Mumbai/IBNS: Prepaid recharge plans in India are getting expensive as the hiked tariffs earlier announced by Reliance Jio and Bharti Airtel go live today, Wednesday (July 3).
New Delhi/IBNS: Since the 1991 shock, India’s steady accumulation of foreign reserves which stood at over USD 653 billion by June, comfortably surpassing the conventional thresholds for adequacy used by IMF and others, is set to act as a bulwark against any adverse geo-strategic and geo-economic factors like the Israel-Hamas and Russia-Ukraine conflicts.
New Delhi/IBNS: Air India on Monday (July 1) announced that it will set up a flying training organisation (FTO) in Maharashtra’s Amravati, and make it operational by early 2026.
New Delhi/IBNS: Punjab, which was the beacon of Green Revolution and has been the ‘food bowl’ of India, needs to shed its mono-culture farming, scrap subsidies like free power and water and reorient its industries and services to overcome slow economic growth, high debt, societal challenges like the drug menace and environmental degradation.
New Delhi: The Indian Railways achieved originating freight loading of 135.46 MT during the month of June 2024 compared to 123.06MT in June 2023, up 10.07%.
The trade ties between India and Russia have strengthened with volume touching $65.7 billion in the financial year ending in March 2024, media reports said.
Touching a landmark moment, the 30-stock Sensex has crossed the 80,000 mark on Wednesday.
Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
Bengaluru: SoftBank-backed edtech startup Unacademy has laid off 250 employees in a new round of company-wide layoffs, media reported.
Mumbai: Nearly half a dozen startups related to stock gaming are either shutting down, pausing operations, or considering a pivot a week after the Securities and Exchange Board of India (SEBI) banned such services, media reported.
Mumbai: The Kotak Mahindra group stated that Hindenburg Research was never a client of its K-India Opportunities Fund (KIOF) or Kotak Mahindra International Ltd (KMIL) and that the fund was unaware of the US short seller being a partner of any of its investors, Moneycontrol reported.
New Delhi: Hindenburg Research criticised India’s market regulator for not addressing the alleged fraud in its report on the Adani Group from early last year, stating it gained just over $4 million from the short-selling event that led to a massive market downturn for the conglomerate, Bloomberg reported.
Kolkata/IBNS: The Indian Chamber of Commerce (ICC) on Monday (July 1) hosted Bihar Business Connect 2024, a global investors’ summit along with Kolkata investors’ meet at Taj Bengal in the city.
New Delhi/IBNS: The ‘woman director’ mandate under The Companies Act (2013) to address gender gap led to a remarkable rise in the share of women in board positions, which led to better economic performance and lower financial risk, particularly of large and medium-sized firms, says a study by the National Council of Applied Economic Research (NCAER).
Mumbai/IBNS: The West Bengal government has withdrawn the temporary relief measures including a two percent reduction in the stamp duty and 10 percent cut in the circle rate earlier granted to the real estate sector, media reports said.
Mahindra & Mahindra Ltd. (M&M Ltd.), an Indian automotive major, on Monday announced that its overall auto sales for the month of June 2024 stood at 69,397 vehicles, a growth of 11%, including exports.
Automobile major TVS Motor Company recorded monthly sales of 333,646 units in June 2024 with a growth of 5% as against 316,411 units in the month of June 2023.
Keeping up the tempo in the arena of Defence Exports, Garden Reach Shipbuilders and Engineers (GRSE) Ltd signed an agreement with the Directorate General, Defence Purchase, Ministry of Defence, Government of the People’s Republic of Bangladesh on Sunday (June 30, 2024), for the construction of an advanced Ocean-Going Tug.
Arlington/IBNS: American aerospace manufacturer Boeing on Monday (July 1) announced it has entered into a definitive agreement to acquire Kansas-based aerostructure manufacturer Spirit AeroSystems, according to a statement issued by Boeing.
Kolkata: FICCI FLO, the women's wing of the Federation of Indian Chambers of Commerce and Industry, recently hosted a seminar focussing on the leading role played by the MSMEs in India.
Kolkata/IBNS: Veedol India, one of the country's leading lubricant brands from Tide Water Oil Co. (India) Ltd., on Friday signed up former Indian skipper and ex-President of the Board of Control for Cricket in India (BCCI), Sourav Ganguly, as its brand ambassador.
Kolkata: Bandhan Bank today announced that it has launched the facility to collect direct taxes online from its customers and non-customers across India.
New Delhi: The pace of growth of India's eight core sectors slowed to 6.3 percent year-on-year in May, slightly down from the 6.7 percent recorded in April, according to government data released on Friday.
New Delhi: India's fiscal deficit for the first two months of 2024-25 was 3 percent of the annual estimate, amounting to Rs 50,615 crore, according to data released by the Controller General of Accounts on Friday.
Washington DC: U.S. prices remained steady in May, while consumer spending saw a moderate increase, a trend that might prompt the Federal Reserve to consider cutting interest rates this year, reported Reuters.
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