Business
ONGC’s OPaL Exits From Dahej SEZ, Eyes Local Market
NEW DELHI: ONGC PetroAdditions Limited, a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC), has relinquished its ‘only-for-export’ unit status as it aims to tap into the booming local petrochemical market to drive a turnaround. In a stock exchange filing, ONGC said OPaL has received the final...
Chhattisgarh FM Presents 100-Page Handwritten Budget
RAIPUR: In an age where even court rulings are drafted using AI-powered chatbots, Chhattisgarh’s Finance Minister OP Choudhary showcased his personal dedication by presenting a 100-page handwritten Budget in Hindi, reflecting his hands-on approach and commitment to the budget preparation process. Choudhary, a former IAS who quit service to...
IPO Activity Slows Down, Listings Pulled
NEW DELHI: After heightened activity in 2024, there has been a slowdown in new listings, with no main-bourse Initial Public Offerings (IPO) hitting the market in the past three weeks due to a correction in the secondary market. This slowdown in IPO activity is reflected in the numbers, as...
Time For “Macro” Trade Deal With India, Says The US
NEW DELHI: The US on Friday asked India to bring down import tariffs for it under an all-encompassing trade deal that won’t leave even the latter’s sensitive agriculture markets out. In a televised address to an Indian audience from Washington, US commerce secretary Howard Lutnick made it clear that...
Retail Inflation Likely Eased To 3.9% In February
NEW DELHI: India’s retail inflation, based on the consumer price index (CPI), is seen to have eased to a six-month low of 3.9% in February from 4.31% in January, according to a median of 15 estimates. The decline in inflation is primarily due to cooling vegetable prices. With the...
Nasscom, Other Bodies Oppose DPDP Rules On Cross-Border Data Transfer Ban
NEW DELHI: Industry body Nasscom has opposed government’s plan to restrict cross-border data transfer by significant data fiduciaries, asserting that the proposal in the draft Digital Personal Data Protection (DPDP) Rules “risks causing unintended uncertainty on international data transfers.” “Moreover, the ability of such a restriction to afford meaningful...
Exporters Of Marine Products, Rice Jittery As US Tariffs Loom
NEW DELHI: India’s marine products and rice exports and domestic poultry industry are likely to be impacted if the Trump administration imposes reciprocal duties on products imported from the country. At present, frozen shrimp exports to the US, which has a major share in the country’s marine products exports,...
Credit Growth Slows, Still Outpaces Deposits: RBI Data
MUMBAI: Credit growth continued to outpace deposit growth even as both have slowed over previous years according to the latest data released by the Reserve Bank of India. Outstanding bank deposits amounted to Rs222 lakh crore as of February 21, up 10.3% year-on-year compared to 13.1% in the same...
Women Envoys Hail Diverse Workforce At Adani Green Energy
KHAVDA: A delegation of women envoys from nine countries, including those from Luxembourg, Romania and Slovenia, took stock of Adani Group’s renewable energy and other projects in Gujarat and lauded female workforce participation at these facilities. While interacting with women engineers at Adani Green Energy’s 30-GW clean energy plant...
80 Per Cent Women-Led Businesses Face Challenges: Report
MUMBAI: Around 80 per cent of women-led businesses encounter difficulties with international payments, while 60 per cent struggle with complex regulatory compliances, according to a report. Despite their increasing role in the economy, women-led enterprises constitute just 15.4 per cent of India’s 58.5 million businesses, the report on growing...
New SEBI Chairman Promises Conflict Of Interest Disclosure Framework
MUMBAI: Capital markets regulator Securities and Exchange Board of India (SEBI) new chairman Tuhin Kanta Pandey on Friday promised to come out with a framework where Sebi board members will have to reveal conflict of interest to the public. Addressing his maiden public event, Pandey, who took charge as...
Empowered Indian Woman Shines Out In The New Global Order
Every year, around International Women’s Day, discussions on women’s empowerment resurface, creating a platform to reassess the meaning and significance of this global observance. Over the years, the connotations of Women’s Day and the activities surrounding it have evolved, redefining our understanding of what it means to empower women....
Swiggy Expands Food Delivery Service To 100 Railway Stations
NEW DELHI: Swiggy on Friday said it has expanded its food delivery service, in partnership with IRCTC, to 100 railway stations across 20 states in India. In the coming months, the food and grocery delivery platform will continue to expand its reach to more stations across the length and...
Insolvency Board Mulls More Regulatory Changes
NEW DELHI: Even as the amendments to be Insolvency and Bankruptcy Code (IBC) are getting delayed, the Insolvency and Bankruptcy Board of India (IBBI) has made a slew of regulatory changes in the past 18 months to enhance the efficiency of the resolution process. “Until amendments to the IBC...
Taxpayers Declare Foreign Assets Worth Rs 29,000-Crore Under CBDT Campaign
NEW DELHI: As many as 30,161 taxpayers voluntarily declared foreign assets worth Rs 29,208 crore for the assessment year (AY) 2024-25 to the Income-tax department under a special campaign launched in November 2024, official sources said. Under the “compliance-cum-awareness campaign,” the Central Board of Direct Taxes (CBDT) had urged...
India’s Policies Are Ensuring Resilience In Its Economy: Anna Bjerde, MD, World Bank
India could emerge as a developed country by 2047, provided it sustains high economic growth, according to Anna Bjerde, managing director of operations at the World Bank. Bjerde said she sees an economically uncertain world for some more time. In an interview to Banikinkar Pattanayak and Deepshikha Sikarwar, she...
India Inc’s Attrition Rates In 2024 Hit Lowest Point Since 2020 Amid Subdued Hiring Slowdown
Attrition levels across India Inc in 2024 fell to their lowest point since pandemic-battered 2020 as a lacklustre hiring environment, macroeconomic headwinds, layoffs and market uncertainties led to fewer opportunities while employees took a more cautious stance towards switching jobs. Organisations reported an average attrition rate of 17.4% last...
India Shifting Towards LNG Term Contracts Despite Falling Spot Prices: S&P
NEW DELHI: India’s demand for spot cargoes of Liquefied Natural Gas (LNG) is expected to reduce as importers shift towards medium and long term contracts over the next two years, as a result of multiple deals that come into effect as early as next month, S&P Global Commodity Insights...
