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Microsoft overtook Apple as the world’s most valuable company on Thursday after the iPhone maker’s shares made a weak start to 2024 due to growing concerns over demand. Shares of Redmond, Washington-based Microsoft were last up 1.6%, giving it a market valuation of $2.875 trillion as its early lead...
MUMBAI: In a measure that could bring relief to promoters of startups, the Securities and Exchange Board of India (Sebi) is in favour of relaxing the rules on the minimum promoters’ contribution at the time of an initial public offering (IPO). As startup founders typically dilute their stakes in...
MUMBAI/BENGALURU: India’s information technology (IT) leaders have once again sent out a signal that the macro environment is tough and that their clients are spending cautiously. Kicking off the earnings season on Thursday, the third quarter results of Tata Consultancy Services (TCS) and Infosys reflected the slowdown in the...
NEW DELHI: India is reviewing the entire gamut of withholding tax provisions in line with the country’s overall thrust to simplify the tax structure to make it easier for businesses and reduce disputes. There are several tax deducted at source (TDS) provisions with different thresholds and multiple rates. This...
India’s industries are counting on the government to target larger capex outlay of atleast ₹12-lakh crore in the upcoming interim Budget (2024-25) to support higher GDP growth in a year when global economic slowdown in expected to be pronounced. This comes even as the private sector’s side of investment...
NEW DELHI: India has submitted all relevant data on its social security schemes sought by the US to start negotiations on a bilateral totalisation agreement that would exempt short-term visa holders from contributing to social security and will push for it at the India-US Trade Policy Forum (TPF) meeting...
NEW DELHI: The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. The government has budgeted to collect Rs 18.23 lakh crore from direct taxes...
NEW DELHI: The commerce ministry has called a high-level inter-ministerial meet next week to discuss ways to insulate India’s trade from the ongoing problems in the Red Sea, a senior official said on Thursday. Senior officials from five ministries — external affairs, defence, shipping and finance and commerce —...
GANDHINAGAR: Finance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded. Speaking at a session ‘An aspiration of modern India’ at the GIFT City,...
MUMBAI: India has emerged as “vishwa mitra”, or a trusted friend, in the rapidly changing world order, said Prime Minister Narendra Modi on Wednesday. He projected the country as a new ray of hope amid global uncertainties and an engine of growth for the world economy. The prime minister...
NEW DELHI: Reiterating the demand for a reduction in tariffs and duties on components and subassemblies imported for making smartphones in India, the India Cellular and Electronics Association (ICEA) on Wednesday said such a reduction in input tariffs could increase the country’s smartphone exports by nearly four times to...
NEW DELHI: Green hydrogen in India can not only provide energy for sectors such as fertilizers, chemicals, refining and iron, but also save carbon emissions compared to fossil fuels, the World Economic Forum said on Wednesday. In a detailed analysis of what it will take to make green hydrogen...
NEW DELHI: After bilaterally resolving many major trade disputes that had reached the dispute settlement body at the World Trade Organisation, trade ministers of India and US will meet here on Friday to discuss other pending issues. Fast-tracking of the process of inspection and audit of Indian pharma companies...
MUMBAI: The monetary policy committee (MPC) is expected to keep rates unchanged for the remainder of this fiscal amid weak agricultural output and tight global food supplies posing upside risks to inflation, and global market volatility, according to a Crisil Market Intelligence and Analytics report. A rate cut is...
NEW DELHI: Signalling a recovery from the Covid-19-induced pandemic, growth in the real wages stayed positive in India for the second consecutive year in 2022, the latest study by the International Labour Organisation (ILO) shows. Along with Turkiye, India is the only country among the G20 grouping that saw...
Electricity being a very political sensitive issue and States having a major role to play, Telangana Chief Minister A Revanth Reddy, laid out his intent to strengthen the sector. He stressed for the need to implement a comprehensive power policy in the State after conducting a detailed study of...
US regulators for the first time approved exchange-traded funds that invest directly in Bitcoin, a move heralded as a landmark event for the roughly $1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond. The Securities and Exchange Commission, whose three-part mandate...
CHENNAI: The renewable energy sector reported a 19 per cent decline in new capacity addition to the grid in the calendar year 2023. The total new capacity addition in the clean energy sector stood at 12.9 GW in 2023 when compared with a new capacity addition of about 16...