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MUMBAI: Cash-strapped Vodafone Idea’s subscriber losses slowed to a six-month low in March, while market leader Reliance Jio continued to add the most number of users, outpacing nearest rival Bharti Airtel, telecom regulator data showed Friday. Jio added 2.14 million users, followed by Airtel, which added 1.75 million users,...
MUMBAI: The Reserve Bank of India Friday said the Centre plans to buy back Rs.40,000 crore worth of government securities on May 9, a move that is expected to ease the tight liquidity conditions in the banking system. This will be the first such repurchase since 2018. The unexpected...
MUMBAI: The Reserve Bank of India (RBI) on Friday said lenders should maintain a provision of 5% for loans extended to under-construction projects, according to draft guidelines posted on the central bank’s website. The provisions can be made gradually in phases till FY27. Once the project enters the operational...
NEW DELHI: Apple CEO Tim Cook on Friday said the company grew strong double-digit in India, clinching a new March quarter revenue record amid an “incredibly exciting market”. Describing India market as a “major focus”, Cook said Apple is working on the entire ecosystem from developer to the market...
NEW DELHI: The government on Saturday lifted the ban on onion exports but imposed a minimum export price (MEP) of USD 550 per tonne. The decision assumes significance as the commodity is politically sensitive and general elections are going on in the country. “The export policy of onions is...
NEW DELHI: The country’s fossil fuel-based power generation capacity increased 2.44 per cent to 243.22 GW in FY24 from 237.27 GW in March 2023, according to official figures. There was a 10.79 per cent rise in non-fossil fuel based capacity (renewable energy sources) addition at 190.57 gigawatt (GW) in...
COLOMBO: Sri Lanka’s rupee, which suffered severe depreciation because of the island nation’s unprecedented economic crisis since 2022, has started to make gains in comparison to other currencies, State Minister for Finance Ranjith Siyambalapitiya said on Friday. He said during the first four months of the year, the Sri...
TBILISI (GEORGIA): The Asian Development Bank is open to funding the space sector in India in addition to focusing on climate finance to mitigate the associated risks, said its Vice President Bhargav Dasgupta on Friday. ADB has done some projects in satellite in the Asia Pacific region, but has...
NEW DELHI: Capital markets regulator Sebi on Friday relaxed the digital onboarding process for clients of portfolio managers, a move aimed at facilitating ease of doing business. While onboarding clients, portfolio managers will have to ensure that new clients use a typed or electronically written note saying that they...
NEW DELHI: The Central government may incorporate the OECD Pillar 2-GloBE rules in the country’s domestic law in the full Budget set to be presented in July, but it may not fetch India the anticipated revenue as envisaged earlier. This is because one specific provision, namely Qualified Domestic Minimum...
NEW DELHI: Despite recording a slight moderation in activity, the HSBC India Manufacturing PMI posted a 58.8 print in April amidst strong demand conditions, data released by S&P Global on Thursday showed. In March, the Manufacturing PMI had come in 59.1. Operating conditions improved at the second-fastest pace in...
MUMBAI: In a relief to Bajaj Finance, the Reserve Bank of India(RBI) has allowed the non-banking finance company to resume the sanction and disbursal of new loans under eCOM and online through its ‘Insta EMI Card’. “The company remains committed to ensure adherence and compliance of regulatory guidelines,” Bajaj...
MUMBAI: The Centre for Financial Accountability (CFA) has urged the Reserve Bank of India (RBI) to broaden its understanding of climate risk, increase the level of disclosures by financial institutions, and explore additional oversight mechanisms to ensure comprehensive climate accountability. CFA’s reaction came in response to RBI’s draft disclosure...
NEW DELHI: India’s private ports continued to outperform those owned by the central government in 2023-24 (FY24), registering double-digit growth compared to 4.45 per cent growth for major ports, according to the Ministry of Ports, Shipping and Waterways data. At 721 million tonnes (mt), non-major ports saw their cargo...
NEW DELHI: Jindal Stainless, on Wednesday, announced its entry into a joint venture with a Singapore-based company to develop and operate a stainless steel melt shop (SMS) in Indonesia. The company further announced that it will invest around rupees 1,900 crores to expand its downstream lines in Jajpur and...
NEW DELHI: India is one of the “fastest-growing markets” for online accommodation hosting platform Airbnb and the country has the potential to be among its top 10 global markets in the coming years, according to its Chief Business Officer Dave Stephenson. The company is investing in India to tap...
NEW DELHI: American Express will open its state-of-the-art campus in India, reaffirming the company’s commitment to the country. Spanning nearly one-million square feet, this new facility exemplifies a forward-thinking approach to workplace design, sustainability, health, and wellness for its colleagues. Colleagues will begin moving to the new facility, located...
NEW DELHI: India’s imports of electronics, telecom, and electrical products soared to USD 89.8 billion in 2023-24 and over half of these imports are sourced from China and Hong Kong, economic think tank GTRI said in its report. China dominates with a commanding 43.9 per cent share of India’s...