Indian Railways achieves 135.46 MT freight loading in June 2024
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%.
Finance
India sells 44,800 tons of unprocessed aluminum to Russian companies
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.
Sensex crosses 80,000 mark for the first time
Touching a landmark moment, the 30-stock Sensex has crossed the 80,000 mark on Wednesday.
Project Nexus: Reserve Bank of India joins ASEAN nations to create platform for instantaneous cross-border payments
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.
Education startup Unacademy lays off 250 employees in fresh round
Bengaluru: SoftBank-backed edtech startup Unacademy has laid off 250 employees in a new round of company-wide layoffs, media reported.
Stock gaming apps in trouble after SEBI circular: Report
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.
Hindenburg neither a client nor an investor: Kotak Mahindra Group after short seller alleges role in betting against Adani
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.
Hindenburg Research attacks market regulator SEBI, reveals it made small gain with last year's Adani short-selling event
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.
ICC hosts Bihar Business Connect 2024 in Kolkata to showcase state's growth and investment potential
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.
Firms with women in board, top management perform better: NCAER Study
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).
West Bengal govt withdraws temporary relief measures to real estate sector
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 Auto sells 40,022 SUVs, a 23% growth and total volumes of 69,397,marks 11% growth in June 2024
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.
TVS Motor's sales grew by 5 pct in June 2024
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.
Garden Reach Shipbuilders and Engineers to build advanced Ocean-Going Tug for Bangladesh Navy
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.
Boeing agrees to acquire Spirit AeroSystems in $4.7bn deal
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.
Entrepreneurs gain valuable insights at FICCI FLO's seminar on MSME in Kolkata
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.
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador
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.
Bandhan Bank starts online collection of direct taxes
Kolkata: Bandhan Bank today announced that it has launched the facility to collect direct taxes online from its customers and non-customers across India.
Growth of eight core sectors slows to 6.3% YoY in May
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.
India's fiscal deficit Apr-May fiscal deficit at 3% for full FY25 target
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.
U.S. inflation eases in May, consumer spending shows moderate growth
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.
RBI imposes Rs 29.6 lakh fine on HSBC over non-compliance in card ops
Mumbai: The Reserve Bank of India (RBI) announced it has fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) Rs 29.6 lakh for failing to comply with certain directives regarding card operations, media reported
Sensex falls 210.45 pts after strong show in the morning
Despite a strong run in the morning trading hours, BSE Sensex dropped by 210.45 pts to settle at 79,032.73 on profit booking by local operators on Friday, losing its winning streak of the five last sessions.
FATF places India in elite ‘regular follow-up’ category
The Ministry of Finance on Friday announced India has achieved an outstanding outcome in the Mutual Evaluation conducted during 2023-24 by Financial Action Task Force (FATF).
SEBI allows NRI, OCI participation in IFSC-based FPIs to bolster investments in India
Mumbai: The Securities and Exchange Board of India (SEBI) has approved major changes to enhance investments in India by Foreign Portfolio Investors (FPIs) based in International Financial Services Centres (IFSCs), media reported.
60% of MSMEs plan to digitize their business by 2025: Vi report
Kolkata: Almost 60% of MSMEs plan to digitize their business processes by 2025, according to Vi Business ReadyforNext MSME growth insights study.
Reliance Industries crosses Rs 21 lakh cr market cap after Jio tariff hikes
Mumbai: Reliance Industries Ltd has surpassed a market capitalisation of Rs 21 lakh crore after a stock surge of more than 20 percent this year, becoming the first Indian company to achieve this milestone, media reported.
Aditya Birla's MSME lending platform Udyog Plus garners 8 lakh users in 9 months; AUM at Rs 250 cr
Kolkata: Aditya Birla Finance Limited’s (ABFL) B2B lending platform Udyog Plus has attracted over 8 lakh users in the MSME sector within nine months of its launch, the company said in a press release.
After Reliance Jio, now Airtel hikes tariffs significantly
Mumbai/IBNS: In what would affect the customers' monthly budget, Bharti Airtel on Friday announced a significant hike in its tariffs following the footsteps of its competitor Reliance Jio.
CtrlS Datacenters Ltd lays out expansion plans for Kolkata
Kolkata/IBNS: CtrlS Datacentres Ltd, an India-based datacentre operator with over 250 MW live datacenter footprint across eight major markets in the country, has unveiled major expansion plans for Kolkata with an aim to develop a complete ecosystem of cutting-edge Artificial Intelligence (AI)-ready datacentres and advanced network to serve the connectivity needs of enterprises and hyperscalers in the region.