Business
FTA Likely On Track As UK Warms To Investment Pact
NEW DELHI: India and the United Kingdom are trying to find a middle ground to conclude a bilateral investment treaty along with a free trade agreement (FTA) by the end of this month, said people with knowledge of the matter. The prospects of a deal have brightened with the...
Govt Eyes Regulatory Sandbox For OTT Communication Apps
NEW DELHI: The government is likely to provide the option of a regulatory sandbox for existing and new over-the-top (OTT) communication apps to test features in a “live but safe environment” before they are allowed to be released for all users. According to the latest version of the draft...
Banks Tap Business, Rework Plan To Raise Low-Cost Deposits
NEW DELHI: The Centre’s “just-in-time” mechanism to release money for government agencies, including at the state level, has forced banks to rework their fund-raising strategy as they have lost out on low-cost current and savings account float.Worst hit are public sector banks such as State Bank of India, which...
India’s Power Demand For ACs To Exceed Total Consumption Of Africa: IEA
NEW DELHI: India’s demand for electricity for running household air conditioners is estimated to expand nine-fold by 2050 and will exceed total power consumption in the whole of Africa today, the International Energy Agency (IEA) said on Tuesday. In its latest World Energy Outlook, IEA said India will see...
Net FDI Into India Declines To $2.99 Billion In April-August
The net Foreign Direct Investment (FDI) in India, declined sharply in April-August 2023 to $2.99 billion from $18.03 billion in April-August 2022 due to moderation in global investment activity and a rise in repatriation. Reserve Bank of India’s data (October 2023 bulletin) said FDI in India was $7.28 billion...
Apple to Debut iMac Refresh at the End of the Month, New iPad Models to Arrive in March 2024: Gurman
Apple is yet to refresh its 2021 24-inch iMac, with the company widely speculated to be working on the follow-up. Industry analyst Ming-Chi Kuo had said last week that he expected the Cupertino, California-based company to unveil a new 24-inch iMac next year. A new report, however, contradicts Kuo...
IPOs Of Small And Medium Enterprises Raise Rs 3,540 Crore In 2023 So Far
NEW DELHI: The Small and medium enterprises (SME) IPOs have been performing exceptionally well in the share market. The reasons are the strong participation from High Net Worth Individuals (HNIs), liquidity in the market and the positive outlook of the investors. As per the data provided by PrimeDatabase.com, various...
A Year After Rollout, Private 5G Struggles To Find Takers
NEW DELHI: India’s 5G rollout speed may be one of the fastest in the world in just a year of launch. But where the country is falling behind is in the adoption of private captive networks by its enterprises. India lags behind the US, Japan, Germany, UK and China, ...
Private Banks Tighten Vigilance On Small Unsecured Loans
MUMBAI: Small loans may turn out to be a big worry for banks. Some lenders are seeing stress rise in small-ticket unsecured personal loans as borrowers with low incomes find it hard to repay dues. RBI has flagged concerns over an increase in unsecured loans. While Yes Bank and...
Early Birds Report Strong Q2 Growth
MUMBAI: The initial trend in the second quarter results season is along anticipated lines with double-digit growth in net profit helped by a low base in the year-ago period and a stellar performance by banking and finance companies, offsetting a muted show by software exporters. For a sample of...
MNCs May Face Rs 11,000 Crore Retro Tax Demand After SC Ruling
NEW DELHI: Several multinational companies headquartered in the Netherlands, Switzerland and France could be staring at retrospective tax demands for close to ₹11,000 crore on dividend income repatriated from India, following a Supreme Court ruling last week. The Supreme Court said on Thursday that the lower 5% withholding tax...
Food Stock-Holding, E-Commerce Tax On Wto Meet Agenda
NEW DELHI: Senior officials from the World Trade Organisation (WTO) member countries are meeting in Geneva from Monday to lay the groundwork for the next ministerial conference of the global trade regulating body which will involve reviewing the status of progress on the decisions of the previous ministerial conference...
Rupee Trade Worth $2.5-Billion Since July 2022 RBI Move
NEW DELHI: India has settled international trade worth over $2.5 billion in rupee after the Reserve Bank of India (RBI) facilitated this in July last year, according to a senior official. Much of the trade settlement in rupee has been with Russia, Sri Lanka and three-four other countries, he...
FPIs Pull Out Rs 12,000 Crore From Equities So Far In October; Invest Rs 5,700 Crore
NEW DELHI: Foreign portfolio investors (FPIs) have withdrawn over Rs 12,000 crore from Indian equities this month so far, mainly due to a sustained rise in US bond yields and the uncertain environment resulting from the Israel-Hamas conflict. However, the story takes an intriguing turn on observing FPI activity...
Online Gaming Companies, Brands Target Offline Streaming In India
Last weekend, more than 20,000 Mumbai residents gathered at the Sardar Vallabhbhai Patel stadium over three days to attend an event, which was so popular that the police had to erect barricades to prevent more fans from getting in. This wasn’t a concert featuring Bollywood stars or a stand-up...
Chinese Yuan Beats Euro, Is 2nd Most Used Currency In Global Payments System SWIFT
NEW DELHI: The Chinese yuan has surpassed the euro to become the world’s second-most used currency in SWIFT trade settlements, according to data from the international SWIFT system. This marks a significant milestone in China’s efforts to internationalise its currency. As of September 2023, the yuan accounted for 5.8%...
Retail Leasing In India Increased By 46% YoY In January-September To 4.73 Million Sq ft: Report
NEW DELHI: CBRE South Asia, the real estate consulting firm, recently announced the findings of its latest report, ‘India Market Monitor Q3 2023’. The report highlighted the growth trends and dynamics across the real estate sector in India. In terms of cities, Bangalore, Delhi-NCR, and Pune collectively accounted for...
JSW Steel Q2 Net Profit At Rs 2,773 Crore On Lower Cost, Better Realisation
MUMBAI: Lower costs and better realisation helped the Sajjan Jindal-led JSW Steel post a net profit of Rs 2,773 crore in the September quarter, against a net loss of Rs 915 crore registered in the same period last year. Income increased 7 per cent to Rs 44,821 crore (Rs...
