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NEW DELHI: The government will come out with a draft regulatory framework for artificial intelligence (AI) by June-July, after holding extensive discussions with the industry, minister of state of electronics and IT, Rajeev Chandrasekhar said on Tuesday. Speaking at the Nasscom Technology and Leadership Forum (NTLF), while the minister...
SINGAPORE: Indian-origin companies are bullish on business prospects from the five-day Singapore Airshow, which began on Tuesday with global aviation industry stakeholders, including many from India like Brahmos Aerospace. Returning to a full-scale edition, the Singapore Airshow is making a strong comeback from February 20-25 with over 1,000 participating...
NEW DELHI: The government is considering setting up a maritime development fund with a view to providing low cost, long-term financial support to the shipping sector, a senior government official said on Tuesday. Ministry of Ports, Shipping and Waterways Secretary T K Ramachandran at an event organised by industry...
NEW DELHI: External Affairs Minister S Jaishankar has defended procuring oil from Russia and said following the Ukraine conflict India’s energy suppliers in the Middle-East gave priority to provide petroleum products to Europe that paid higher prices. New Delhi did not have any option but to procure Russian crude...
NEW DELHI: A global team of researchers from Australia, the USA, UK, France, Korea, and the George Institute India has collaborated to develop SONG-LP, a tool to assess life participation of individuals who have undergone kidney transplants. Kidney failure often severely limits patients’ ability to engage in daily activities,...
MUMBAI: The Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and expectations of a fresh round of capex by the corporate sector is likely to fuel the next leg of growth, the Reserve Bank Bulletin said on Tuesday. “The likelihood of the global...
NEW DELHI: Over 27,500 applications for resolution process against corporate debtors have been withdrawn before their admission, with regulator IBBI emphasising that the credible threat of the insolvency law that ownership of debtors might change has changed the behaviour of debtors. These Corporate Debtors (CDs) had an underlying default...
MUMBAI: Sajjan Jindal-led JSW Steel is in talks to acquire a 20% stake in a coal mine owned by Australia’s Whitehaven Coal, in a deal valued at $750 million-$1 billion. A number of other firms, including Japan’s Nippon Steel, are also in the race to acquire Blackwater mine, located...
NEW DELHI: Large corporates will soon have a facility for “out-of-court” insolvency resolution that will hinge on informal discussions among the stakeholders and may not even require open bidding for selection of resolution applicants, official sources said. The scheme envisages minimal discretionary involvement by the National Company Law Board...
NEW DELHI: The Centre will likely roll out 58% of the Rs 1.3 trillion interest-free capex loan facility for states in 2024-25 after general elections to avoid controversies as those would be reform-linked to boost economic growth to make India a developed nation. To strengthen the hands of the...
NEW DELHI: An expert committee set up by the insolvency regulator has recommended mediation between lenders and borrowers even at the pre-default stage to “achieve faster out-of-court outcomes”. The panel, headed by former legal affairs secretary TK Viswanathan, has said mediation at the pre-default stage would aid in resolutions...
NEW DELHI: Government think tank NITI Aayog has pitched for tax reforms, mandatory saving plan, and housing plan for elderly in India, as the population of senior citizens is projected to reach 19.5 per cent of the country’s population by 2050. In a report titled ‘Senior Care Reforms in...
NEW DELHI: The Income Tax department has prescribed a ceiling of Rs 1 lakh per assessee for withdrawal of small tax demands till Assessment Year 2015-16, in accordance with a scheme announced in Budget. The Central Board of Direct Taxes (CBDT) has issued an order giving effect to the...
NEW DELHI: The government is not considering any cut in import duty on rubber as of now as the differential between the local and international prices is maintained, a senior official said on Monday. “We have a differential already maintained for the imports that we are getting vis-a-vis the...
NEW DELHI: State-owned India Tourism Development Corporation Ltd is looking for new business opportunities besides strengthening its existing verticals as it seeks to carry forward the momentum of record financial performance of last fiscal, according to its Managing Director M R Synrem. The company which offers hospitality, travel and...
DUBAI: India emerged at the top spot for the highest number of passengers flying through the Dubai International Airport, the world’s busiest for international travel, with traffic totalling 11.9 million guests, the airport announced on Monday. According to a statement, the Dubai airport, known as DXB, surpassed not only...
BENGALURU: Tata Group companies Air India and Tata Advanced Systems Limited (TASL) plan to invest Rs 2,300 crore in Karnataka in multiple projects which will provide employment to about 1,650 people, an official statement here on Monday said. Karnataka Chief Minister Siddaramaiah and Large and Medium Industries Minister M...
NEW DELHI: As trade ministers head to Abu Dhabi for a crucial meeting of WTO next week amid a lack of consensus in key areas, India is seeking to get the over 160 member nations to acknowledge that high cost of remittances are a drain, especially on poor countries,...