Business
Economic Survey projects GDP growth at 8-8.5%
Finance minister Nirmala Sitharaman tabled the Economic Survey 2022 in the Lok Sabha on Monday, January 31. It projected an 8 per cent to 8.5 per cent growth rate for the Indian economy in 2022-23 fiscal year. Indian economy is likely to witness a real GDP expansion of 9.2 per...
‘Isolation’ not mandatory for Covid +ve foreign arrivals
Travellers arriving in India from any country who will test positive for COVID-19 shall be treated/isolated as per the laid down standard protocol and will not mandatorily be managed at an isolation facility, authorities have said. According to the revised Guidelines for International Arrivals’ released on Thursday, the new...
Competition Commission clears Tata’s Air India acquisition
Competition Commission has approved Tata Group’s proposed acquisition of Air India, Air India Express and AISATS. Talace Pvt Ltd, part of Tata Group, is to acquire 100 per cent stakes in Air India, Air India Express and 50 per cent shareholding in Air India SATS Airport Services Pvt Ltd...
Gita Gopinath promoted as IMF First Deputy MD
Indian-American Gita Gopinath, the chief economist of International Monetary Fund, is being promoted as IMF’s First Deputy Managing Director, the fund announced Thursday. She would replace Geoffrey Okamoto who plans to leave the Fund early next year. Gopinath, who was scheduled to return to her academic position at Harvard...
Facebook to scrap thousands of sensitive ad-targeting options
Facebook Inc said on Tuesday it plans to remove detailed ad-targeting options that refer to “sensitive” topics, such as ads based on interactions with content around race, health, religious practices, political beliefs or sexual orientation. The company, which recently changed its name to Meta https://www.reuters.com/technology/facebooks-zuckerberg-kicks-off-its-virtual-reality-event-with-metaverse-vision-2021-10-28 and which makes the...
Mukesh Ambani London relocation report denied
Reliance Industries Limited on Friday termed as ‘false’ media reports stating that Mukesh Ambani and his family were contemplating partly residing in Stoke Park, London. In a press release, the firm said that a recent report in a newspaper had led to “unwarranted and baseless speculation” on social media...
Excise duty cut estimated to cost Rs 45,000 cr
The excise duty cuts on diesel and petrol will cost Rs 45,000 crore and lead to a 0.3 percentage point widening on the Centre’s fiscal deficit, a foreign brokerage said on Thursday. Going by the overall consumption, the costs of the surprise move which came after months of concerns...
Arunachal cuts VAT on fuels by 5.5%
Arunachal Pradesh Chief Minister Pema Khandu on Thursday announced that his government has reduced the value-added tax rates on petrol and diesel by 5.5 per cent, a day after the Centre slashed excise duty on fuel. The revised VAT rates would be applicable in the northeastern state from the...
Petrol, diesel excise duty slashed on Diwali eve
In a Diwali bonanza by the Narendra Modi government, the excise duty on petrol and diesel has been slashed by Rs 5 and Rs 10, respectively. The decision will come into effect from tomorrow. In a statement, the Government of India also urged the states to reduce the VAT...
Modi says 5 billion vaccine doses by 2022 end
India is ready to produce over 5 billion Covid vaccine doses by the end of next year to help the world in its fight against the pandemic, Prime Minister Narendra Modi said in his remarks at the G-20 meeting here on Saturday, as he highlighted India’s contributions to...
Indian-origin pharma CEO shot dead by gunman in US
An Indian-origin top executive of a pharmaceutical company in the US state of New Jersey was shot dead by a gunman who followed him home from a casino for robbery, media reports said on Saturday. Sree Ranga Aravapalli, 54, a resident of New Jersey’s Plainsboro, was killed shortly after...
Shaktikanta reappointed RBI Governor for another term
Shaktikanta Das has been reappointed as governor of the Reserve Bank of India (RBI) for another term of three years. The decision was approved by the appointments committee of the cabinet late on Thursday. The re-appointment will be effective from December 10, 2021 when Das’ current term ends as RBI...
Facebook changes name to Meta
Facebook Inc is now called Meta, the company said on Thursday, in a rebrand that focuses on investing in the “metaverse,” a shared virtual environment that it bets will be the successor to the mobile internet. The name change comes as the world’s largest social media company battles criticisms...
Challenges abound as Tata draws up Air India revival plan
Tata Sons’ $2.4 billion purchase of debt-ridden, government-owned Air India will give the conglomerate immediate access to valuable flying rights and landing slots that will help it claw back market share from foreign rivals. But industry executives warn any success will be a long and complicated process that could...
FM in Boston, denies reports of coal crisis
Boston: Amid reports of the ongoing coal shortage in the country, Finance Minister Nirmala Sitharaman stressed that there is no shortage and termed these as absolutely baseless, saying India is a power surplus country. Sitharaman said that Power Minister R K Singh went on record just two days ago...
India stares at power crisis after rains hit coal movement
An energy crisis is looming in some states, including Delhi and Punjab, due to a combination of factors such as excess rainfall hitting coal movement and imported coal-based power plants generating less than half of their capacity due to record high rates. In a year when the country produced...
Big push to make India global export hub
Union Cabinet on Wednesday has approved the much-awaited scheme to set up mega investment textile parks (MITRA) in India, sources said. The textile ministry will build seven on over acres in the next three years. This move will help to attract foreign direct investments (FDI) into the textile sector...
Facebook, Instagram, WhatsApp partly reconnecting after outage
Facebook, Instagram and WhatsApp at least partially reconnected to the global internet on Monday afternoon, nearly six hours into an outage that paralyzed the social media platform. Facebook and its WhatsApp and Instagram apps went dark at around noon Eastern time (1600 GMT), in what website monitoring group Downdetector...
