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NEW DELHI: A sharp acceleration in the services sector has led to India’s private sector activity gathering pace in May, posting the third strongest surge in 14 years. The month under discussion also saw the steepest increase in job creation since September 2006, according to a survey released by...
NEW DELHI: The Centre, while presenting its full Budget in July, is likely to stick to its tax revenue estimates made during the interim Budget, despite witnessing a higher-than-anticipated growth in tax collections so far, according to an official source. This is even as the non-tax revenue estimates will...
NEW DELHI: Trade body US-India Strategic Partnership Forum (USISPF) has sought intervention of finance minister Nirmala Sitharaman on the Draft Digital Competition Bill. In a letter on May 15, the last date to submit the response to the draft Bill, trade body’s president and CEO Mukesh Aghi has sought...
NEW DELHI: MG Motor India on Thursday said it has signed an initial pact to deliver 3,000 EVs to integrated fleet electrification platform Vertelo in a phased manner. Both the entities have signed a memorandum of understanding to this effect. The partnership will focus on providing sustainable mobility solutions...
NEW DELHI: The government is planning to significantly ramp up the radiation processing of onions to create a buffer stock of 1,00,000 tonnes this year, as it aims to prevent shortages and price rises of the politically sensitive bulb, according to a top government official. The world’s biggest exporter...
NEW DELHI: Apex body for leather and footwear exporters CLE has asked the government to formulate a national policy for the sector with a view to attract investments, boost India’s shipments and create jobs. In a letter to Niti Aayog CEO BVR Subrahmanyam, Council for Leather Exports (CLE) said...
MUMBAI: Upsurge, an e-learning platform that focuses on stock market trading and investing, aspires to become the leading platform in the domain of finance and is working on a generative AI tool to churn out video-based content to make its offerings more accessible and affordable, say its co-founders. The...
MUMBAI: Benchmark equity indices Sensex and Nifty hit their fresh all-time peaks in early trade on Friday amid buoyant investors’ sentiment days ahead of the results of the Lok Sabha polls announcement and fresh foreign fund inflows. The 30-share BSE Sensex climbed 164.24 points to hit its all-time high...
MUMBAI: The Reserve Bank of India’s (RBI’s) central board met on Wednesday and decided to transfer a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24) even after increasing the contingent buffer at the peak level of 6.5 per cent. This amount is more than double...
NEW DELHI: Compensation in the private sector reached a new high of 22% of gross domestic product (GDP) in 2022-23, up from 21.2% in FY22, widening the gap with government sector compensation, an ET analysis of government data released earlier this month showed. Total compensation of employees working with...
MUMBAI: The stock prices of listed companies continue to outpace growth in India’s gross domestic product (GDP). The market capitalisation (mcap) of all companies listed and traded on the BSE is up 61 per cent since the end of March 2023, compared to an estimated 10 per cent growth...
NEW DELHI: Smartphone PLI (production-linked incentive), the most successful of all 14 such schemes, may be extended by a couple of years beyond 2025-26 when it officially ends. The five-year PLI scheme, which started in 2020 ends in 2026, and each company has the flexibility to choose any five...
NEW DELHI: Maximum cases of advertisement norms violations were reported from the healthcare sector during 2023-24, followed by illegal offshore betting and personal care categories, according to the Advertising Standards Council of India’s (Asci’s) Annual Complaints Report released on Wednesday. The healthcare sector accounted for a maximum 19 per...
NEW DELHI: Domestic oil marketing companies (OMCs) are likely to face margin pressures in FY25 on account of a moderation in Gross Refining Margins (GRMs) due to reduction in product cracks, particularly diesel, and shrinking discounts on Russian crude oil. Also read: Crude oil declines as industry report indicates...
NEW DELHI: Services have edged up India’s flash composite purchasing managers’ index (PMI) to 61.7 in May, as against 61.5 in April. More importantly, the month under discussion saw the steepest expansion in private sector jobs since September 2006. The HSBC Flash India PMI is compiled by S&P Global...
NEW DELHI: Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted...
NEW DELHI: Tata Power Delhi Distribution Limited (Tata Power-DDL), a leading power utility supplying electricity to a populace of 7 million in North Delhi, signed a Memorandum of Understanding (MoU) with the India Smart Grid Forum (ISGF) to collaborate on a ground-breaking Vehicle-to-Grid (V2G) Technology Demonstration Project on 15th...
NEW DELHI: Less than two weeks after the airline’s cabin crew called off their strike, a union of the Air India Express has flagged concerns about flight delays and cancellations, saying that the reduced number of departures is adversely impacting the salaries of the cabin crew. The Air India...