Business
India, UK Hold First ‘2+2’ Foreign & Defence Dialogue To Boost Cooperation
NEW DELHI: The inaugural India-UK ‘2+2’ foreign and defence dialogue on Monday saw the two sides focusing on ways to boost cooperation in a range of key areas such as trade and investment, defence, critical technologies, civil aviation, health and energy. At the senior official-level dialogue, the two sides...
Mumbai India’s Most Expensive Office Rental Market, Bengaluru 2nd
In its latest report ‘India Real Estate Q3 2023’, the real estate consultancy, Knight Frank India cited that the top eight markets of India have recorded office transactions of 16.1 million square feet (mn sq ft) recording a growth of 17% YoY during Q3 2023. The elevated demand in...
16-year-old raises nearly Rs 4 cr funding for AI-startup
Inspiring success stories of young entrepreneurs often go viral on the internet these days. Recently, a 16-year-old girl named Pranjali Awasthi has garnered all attention in the tech industry with her AI startup. The success story of Pranjali at such a young age is inspiring for all aspiring entrepreneurs....
Guinness Book’s 2024 Edition Gets Over 60 Records From India
The latest edition of the Guinness World Records has 2,638 achievements from around the world, including over 60 from India with the entry on rainfall in Meghalaya’s Cherrapunji being one of the oldest. Distributed in India by Penguin Random House, the book has nine fact-packed chapters – Blue Planet,...
Byju’s seeks more time to recast $1.2 billion debt
Edtech startup Byju’s has sought more time from creditors to renegotiate an agreement governing a $1.2 billion loan that is in breach of covenants, according to a latest report by news agency Bloomberg. The creditors have until Tuesday to sign a forbearance agreement, which will give the company time...
Air India-Vistara merger on cards
Air India and Vistara may merge soon as all possibilities are being discussed, Vinod Kanan, chief executive officer (CEO) of Vistara has said. Ever since Tata Sons acquired Air India, there have been talks of a possible merger between the two airlines, both owned by the group. Vistara, the joint venture...
Amex gets new India CEO after RBI ban on expansion lifted
American Express Banking Corp (AEBC) has announced the appointment of Sanjay Khanna as the Chief Executive Officer (CEO) and Country Manager for India. The company in a statement said Khanna heads the country executive team and is responsible for driving growth across the organisation’s consumer and commercial businesses. Khanna,...
Rice prices jump 5% as Bangladesh cuts import duty
The prices of rice in India in the past week have increased about 5 per cent as neighbouring Bangladesh has again cut import duty on rice from 25 per cent to 15.25 per cent, according to an ET report. The reduction in import duty is expected to increase the...
India beats UK to become 5th largest economy
India has become the fifth largest economy in the world, beating the UK, a report has said. The country has become the fifth biggest economy during the last three months of 2021, pushing the United Kingdom to the sixth spot, with the country grappling with a harsh shock of...
Starbucks names Laxman Narasimhan as new CEO
Starbucks Corp on Thursday named Laxman Narasimhan as its next chief executive officer, choosing an executive credited with revitalizing the maker of Lysol disinfectants to undertake a “reinvention” of the world’s biggest coffee chain. Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex...
RBI Governor reiterates concerns over cryptocurrency
Reserve Bank of India governor Shaktikanta Das has once again came down heavily upon cryptocurrencies, saying that the digital assets can create a lot of financial instability in terms of the ability of the central bank to determine monetary policy. Das’ comments came in sync with his and the RBI’s...
Indian retail footfalls post 100% growth as pandemic ebbs
Even as the coronavirus pandemic ebbs, the Indian retail space is witnessing growing footfalls across retail and recreational spaces. The retail sector made a robust recovery in the second quarter of 2022, with transaction activity growing by more than 100 per cent on a quarterly basis. Overall, in H1...
Economists see GDP clipping 13-15.7% in first quarter
Leading economists have pencilled in a high 13-15.7 per cent uptick in the economy in the first quarter of 2022-23 with an upward bias. Soumya Kanti Ghosh, the group chief economic adviser at State Bank of India, on Tuesday said he expects the GDP to clip past 15.7 per...
Home loans get costlier as benchmark ending rate hiked
LIC Housing Finance and Bajaj Housing Finance have recently announced a hike in lending rates for home loans by 0.5 per cent. Banks and non-bank lenders have been reviewing their lending rates ever since the Reserve Bank of India (RBI) increase its key interest rate by 140 basis points in three...
29% of NDTV acquired without discussion, consent or notice
Without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, Radhika and Prannoy Roy, a notice was served upon them by Vishvapradhan Commercial Private Limited (VCPL) stating that it (VCPL) has acquired control of RRPR Holding Private Limited (RRPRH). This entity owns 29.18% of NDTV. It has...
Paytm surges 4% on reappointment of Vijay Shekhar Sharma as MD
Shares of One97 Communications, which operates the financial services platform Paytm, gained nearly 4 per cent on Monday after shareholders of the company approved the re-appointment of Vijay Shekhar Sharma as managing director and chief executive officer of the company. The resolution to reappoint Vijay Shekhar Sharma as Paytm’s...
Radhakishan Damani to head Rakesh Jhunjhunwala Trust
Trusted friend, guru and ace investor-entrepreneur Radhakishan Damani is understood to be the main trustee of ace investor Rakesh Jhunjhunwala’s estate. The other trustees include Kalpraj Dharamshi and Amal Parikh, both confidantes of Jhunjhunwala. Jhunjhunwala’s firm Rare Enterprises will continue to be managed by his two trusted lieutenants Utpal...
GST rate hikes to pressure prices upwards: RBI
The impact of recent changes to GST rates and somewhat uneven distribution of the southwest monsoon rainfall with the deficiency in the eastern region of the country could be a source of upward pressure on prices, according to the minutes of the RBI’s Monetary Policy Committee (MPC). It also...
