Business
World Economy Will Slow In 2024 Because Of Inflation, High Rates, War: OECD
The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. The Paris-based Organization for Economic Cooperation and Development estimated Wednesday that international growth would slow to 2.7% in 2024 from an...
India Inc Looking To Recruit Talent With ‘Green’ Skills
NEW DELHI: Indian companies are increasingly looking to hire people who can help improve their green credentials. Four of every five Indian business leaders who took part in a survey conducted by IBM and decision intelligence company Morning Consult, said they will hire people with expertise or experience in...
16th Finance Commission Being Set Up With “Generic” Terms Of Reference
NEW DELHI: The 16th Finance Commission (FC) may be urged to consider incentives for improvement in debt consolidation and quality of expenditure, issues which were considered by the 15th FC too, though it did not assign any specific weights to them in either in the criteria for tax devolution...
Govt Has No Plan To Dilute Stake In Vodafone Idea For Now
NEW DELHI: Nine months after converting the dues worth Rs 16,133 crore of Vodafone Idea payable to the government on account of spectrum fee, into equity, the department of telecommunications (DoT) has asked the department of investment and public asset management (DIPAM) whether some portion can be offloaded in...
‘China Slows, India Grows’: S&P Pegs 7% Growth For India By 2026
NEW DELHI: India’s GDP growth rate will rise to 7 per cent by 2026 compared to 4.6 per cent for China, S&P Global Ratings said on Tuesday. In a report titled ‘China Slows India Grows’, S&P said it expects Asia-Pacific’s growth engine to shift from China to South and...
Tata Betting Big On High-Resolution Imagery Satellites For Military
NEW DELHI: Tata Advanced Systems Ltd (TASL) has set up a facility to manufacture high-resolution imagery satellites that will help the armed forces keep a closer eye on border areas, betting big on the military space sector. The Bengaluru-based facility will manufacture sub-metre resolution satellites and will have a...
S&P Raises India FY24 Growth Forecast To 6.4 Per Cent
NEW DELHI: S&P Global Ratings on Monday revised India’s economic growth forecast for this financial year to 6.4%, up from 6% projected earlier, bringing it closer to the Reserve Bank of India’s estimate of 6.5%. “We have revised up our projection for India’s GDP (gross domestic product) growth for...
India’s Engineering Exports Surge In US, Saudi Arabia, And UAE In October
NEW DELHI: Exports of engineering products from India witnessed growth from countries such as the US, Saudi Arabia, and the United Arab Emirates (UAE) during October but contracted from several nations in the European Union (EU), China, and Southeast Asia, according to government data. After a slump during the...
TRAI Won’t Cancel Apple Phone Registration Over DND Application Row
NEW DELHI: The Telecom Regulatory Authority of India (Trai) will continue to work with Apple to break the deadlock in talks over introducing its Do Not Disturb (DND) application (app) to Apple’s iOS Store, senior officials have said. The iPhone maker removed the app from its app store in...
iPhone Maker Foxconn Plans $1.6 Billion Investment In India
NEW DELHI: Taiwan’s Hon Hai Precision Industry Co, which is a contract manufacturer for iPhones, on Monday said its subsidiary Foxconn Hon Hai Technology India Mega Development, has planned $1.6 billion investment in India. The planned outlay by the company is related to certain construction projects at its own...
Co-Lending Deals Between NBFCs, Banks Set To Rise After RBI Nudge
MUMBAI: The banking sector is expected to witness rise in co-lending deals between Non-Banking Financial Companies (NBFCs) and banks after the Reserve Bank of India (RBI) Governor Shaktikanta Das asked shadow banks to reduce their over-dependence on bank funding. Smaller and mid-size NBFCs will prefer co-lending as funds sourced...
SEBI Nod For Small, Medium REITs To Boost Investments And Liquidity
MUMBAI | NEW DELHI: The Securities and Exchange Board of India (Sebi) decision to create a regulatory framework for the facilitation of small and medium real estate investment trusts (SM REITs) is expected to boost participation of retail investors, institutionalise the segment, and encourage greater capital influx from both...
Core Inflation May Bottom Out Around Four Per Cent: Economists
NEW DELHI: Core inflation, which excludes volatile food and energy prices, may stabilise around 4% in January with a limited scope for further decline as prices continue to be sticky in certain service sectors, according to economists. A higher core is likely to keep retail inflation from declining significantly,...
AI Firm BRAIIN Holdings Forays Into India, Plans To Invest $100 Million
BENGALURU: New York-based artificial intelligence and robotics firm BRAIIN Holdings is entering the Indian market and has acquired prominent CXaaS (customer experience-as-a-service) company Exato.ai which serves as a strategic foundation for its operations in India. With this acquisition, the company has bolstered its presence in the customer and employee...
Key IBBI Tweaks May Be Finalised In December
NEW DELHI: The Insolvency & Bankruptcy Board of India (IBBI) is expected to finalise crucial amendments to regulations – from those seeking to make life simpler for home buyers to those for personal and companies’ insolvency proceedings, insolvency professionals and liquidation – next month as it seeks to improve...
A 30 Per Cent Jump In States’ Tax Share, Yet Transfers Slow
NEW DELHI: The 16th Finance Commission will have a tough task, primarily because the mismatch between the resource mobilisation by the Centre and state governments and the rising requirements of spending of public monies on socio-economic development and critical infrastructure creation refuses to go away. In this context and...
Surplus CPSE Dividend Unlikely To Offset Disinvestment Revenue Shortfall In FY24
NEW DELHI: Unlike in the last fiscal, surplus dividend by Central Public Sector Enterprises (CPSEs) may not entirely make up for an expected steep shortfall in the government’s disinvestment proceeds in FY24 from the budgeted Rs 51,000 crore, now that the strategic sale of IDBI Bank could spill over...
PSU Insurers’ Stocks Surge On Attractive Valuation, RBI’s Risk Weight Norms
MUMBAI: A combination of factors led to a surge in the share price of state-run insurance companies on Friday, with general insurer New India Assurance’s (NIA) stock hitting the upper circuit. Life Insurance Corporation of India (LIC) surged 10 per cent. The state-run re-insurer General Insurance Corporation of India...
