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NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) will set up a new unit to house its gas business and clean energy projects such as green hydrogen, as it looks to fast-track foray into new areas. In a stock exchange filing, the firm said it last month received...
BHOPAL: Union Minister for Coal and Mines Pralhad Joshi on Tuesday said for the first time, the country’s coal production is going to cross 1 billion tonne. India is going to stop the import of substitutable coal from next year, Joshi said at the second State Mining Ministers’ Conference...
NEW DELHI: The Ministry of Electronics and IT (Meity) will seek cabinet approval for the India AI program, which includes the setting up of GPU-based servers in public-private partnership mode with an outlay of over Rs 10,000 crore, Minister of Electronics and IT Rajeev Chandrasekhar said on Tuesday. Working...
MUMBAI: Equity investors became poorer by Rs 8.50 lakh crore on Tuesday as markets came under a bear attack, with the benchmark Sensex falling almost 1,053.10 points. Equity benchmark index Sensex tumbled 1,053 points to close below the 71,000 level on Tuesday, dragged down by index heavyweights HDFC Bank,...
BENGALURU: Foreign investments in the Indian real estate sector, led by the US, experienced a decline in 2023 due to high inflation and geopolitical concerns. Notably, office spaces emerged as the most favoured investment asset. Investments from American institutions in the Indian real estate market fell by 39 per...
MUMBAI: A few segments in unsecured retail loans show signs of weakness which need to be closely monitored by lenders, said a report published by RBI. It also noted that in credit card outstanding, where the interest rates are highest, larger loans are by more vulnerable borrowers. According to...
NEW DELHI: The Centre may unveil a new scheme or enhance one of the existing schemes to improve the welfare of a “target beneficiary group,” ahead of the general election, an person privy to the matter told FE. Though the details aren’t known, additional support measures for the fishing...
MUMBAI: The credit card segment has emerged as the fastest growing among all retail loans, which could be a cause of worry for the regulator as much of this unsecured credit is going into the below-prime category. In November, the outstanding credit card balance of banks rose 34% from...
NEW DELHI: Real rural wages contracted in 21 of the 23 months to October 2023, signalling that consumer demand in the hinterland remains weak. Although rural inflation has tapered off in the 14 months till October 2023 from the high of 7.9% in September 2022, the lot of rural...
NEW DELHI: Domestic paper and paperboard manufacturers have demanded a hike in import duty to 25 per cent on paper products and the imposition of a quality control order in the upcoming Budget to discourage cheap inward shipments. The Indian Paper Manufacturers Association (IPMA), in a statement on Monday,...
NEW DELHI: Domestic coal-based power generation increased 7.14 per cent to 872 billion units (BU) in the April-December period of the current fiscal. The rise in domestic coal-based electricity generation reflects an ample supply of coal to meet the growing energy demand in the country, the coal ministry said...
NEW DELHI: The technology industry in India continues to draw Gen Z students with 77 per cent of them showing interest towards the sector, a report by Nasscom-Indeed said. Millennials and Gen Zs constitute around 90 per cent of the tech workforce in India enabling higher generational diversity and...
MUMBAI: Private carrier Air India on Monday commenced the commercial operations of its first wide-body A350 aircraft with a flight taking off for Chennai from the Mumbai airport. The 316-seater A350-900 aircraft has a three-class cabin configuration with 28 private business suites with full-flat beds, 24 premium economy and...
NEW DELHI: The vision to make India a developed nation by 2047 includes a major shift towards electric vehicles, supported by tax incentives, production linked incentive schemes, and the mandatory provision of charging infrastructure, a top government official said on Monday. Secretary in the Department for Promotion of Industry...
NEW DELHI: The fiscal deficit target for FY25 is likely to be pegged at 5.3 per cent of the gross domestic product (GDP) in the upcoming interim budget, suggests an analysis of multiple projections made by economists and forecasting agencies. Fiscal deficit is the difference between the total income...
The initial trend in the third quarter results season reflects sustained year-on-year double-digit growth in aggregate revenue and net profit, driven by banking and finance companies. For a sample of 215 companies that have so far declared October-December results, revenue grew by 11.2%, while net profit rose by 14.2%....
NEW DELHI: With private investment still muted, the government is likely to maintain its momentum on increasing capital expenditure, especially for the infrastructure sector in the upcoming Budget to propel economic growth. Post COVID-19, the Budget has been laying special emphasis on capex. It has kick-started a dormant cycle...
NEW DELHI: Led by mining and highways, the Centre’s asset recycling drive to generate resources for fresh investments in infrastructure will likely yield around Rs 1.5 trillion in the current fiscal, the highest mop-up since the National Monetisation Pipeline (NMP) was rolled out in 2021-22. Transactions with aggregate monetisation...