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MUMBAI: Food price pressures is an obstacle in swifter fall in retail inflation to the Reserve Bank’s target of 4 per cent, said an article on the ‘State of Economy’ in the central bank’s March Bulletin published on Tuesday. Retail inflation based on Consumer Price Index (CPI) is on...
NEW DELHI: Pharma major Dr Reddy’s Laboratories Ltd on Tuesday announced the launch of its cancer treatment drug Versavo in the United Kingdom. Versavo is a biosimilar of Avastin, a registered trademark of Roche, and is indicated for the treatment of several types of cancers, including metastatic colorectal cancer,...
INGOLSTADT: German automaker Audi plans to roll out over 20 new models by the end of 2025 across markets, Audi AG CEO Gernot Dollner said on Tuesday. The company also plans to electrify all core segments by 2027. The automaker has also lined up a capex of EUR 41...
TOKYO: Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The Bank of Japan’s lending rate for overnight borrowing by banks was raised to a range of 0 to 0.1%...
NEW DELHI: Telecom carriers have called on the regulator to ensure that any testing of tech products and use cases requiring interactions with mobile users on a live communications network must happen strictly within the ambit of current sector regulations, and be subject to lawful interception and subscriber verification...
Apple is in talks to build Google’s Gemini artificial intelligence engine into the iPhone, according to people familiar with the situation, setting the stage for a blockbuster agreement that would shake up the AI industry. The two companies are in active negotiations to let Apple license Gemini, Google’s set...
NEW DELHI: The insurance sector has received close to Rs 54,000 crore as foreign direct investment (FDI) in the last 9 years on the back of further liberalisation of overseas capital flow norms by the government, Financial Services Secretary Vivek Joshi has said. The government increased the permissible FDI...
NEW DELHI: Expenditure by state governments on asset creation may have risen more than a third on year in the first ten months of the current financial year, compared with a 7% rise in the year-ago period. A review of the finances of 18 large states by FE showed...
NEW DELHI: At a time of high joblessness, stagnant real rural income and slackness in consumption demand, the pensioners are facing the problem of higher rejections in the settlement of their employees’ provident fund (EPF) claims. The higher rate of rejection of claims by the EPF organisation (EPFO) is...
NEW DELHI: Vietnam’s electric car maker VinFast Auto on Monday said India’s new electric vehicle policy that provides import duty concessions for companies setting up manufacturing units in the country with a minimum investment of USD 500 million will allow it to introduce a wide variety of eco-friendly premium-quality...
MUMBAI: Indian IT sector’s revenue growth is expected to come at a tepid 3-5 per cent in FY25, a domestic rating agency said on Monday. The sector’s hiring will “remain muted” in the near-term until the growth momentum picks up, Icra Ratings said. However, the companies’ profitability is expected...
KOLKATA: Air India Express, a subsidiary of Air India, is all set to begin non-stop flights to Imphal and Kochi from Kolkata this April, an airline official said. “The flights to Imphal will operate daily, while those to Kochi will fly six days a week,” he said. The flight...
NEW DELHI: Leading FMCG maker P&G India on Monday announced the appointment of Kumar Venkatasubramanian as CEO, with effect from May 1, 2024. The current CEO, L V Vaidyanathan will leave the company to pursue personal interests after 28 years of service, a statement from P&G India said. Kumar...
NEW DELHI: Under International Competitive Bidding (ICB), Bharat Heavy Electricals Limited (BHEL) has bagged an order from NTPC Ltd. for setting up the 2×800 MW Singrauli Supercritical Thermal Power Plant (STPP) Stage-III on Engineering, Procurement & Construction (EPC) basis. The plant will be set up adjacent to the existing...
In February, the 10-year benchmark government security (G-sec; 7.18% GS 2033) opened at 7.06 per cent and closed at 7.08 per cent, down 6 basis point (bps) from its January close of 7.14 per cent while staying within CRISIL’s forecast range of 7.03-7.13 per cent. Per a CRISIL report,...
NEW DELHI: The near-13 year high services trade surplus in February has prompted economists to scale down their projections of India’s current account deficit (CAD) for the current financial year. Many economists now expect CAD to come in at 0.8-0.9% of the GDP during the entire FY24, as compared...
NEW DELHI: The government’s dividend mopup from non-financial central public sector enterprises (CPSEs) and entities in which it holds minority stakes has touched a record ₹61,149 crore, 22% higher than the revised estimate for 2023-24, with almost a fortnight to go this fiscal, according to the latest finance ministry...
MUMBAI: India’s economy is changing fundamentally, and for the better. Tech is a key driver. Finding enough capital is the big challenge. Computer chips and critical materials are among the new stars. And business, the locus of much of this change, must also take the lead in recognising that...