MUMBAI: The top-level structure of public sector insurance companies is set to undergo an overhaul with the selection process and interviews for filling up the nine posts of executive directors (EDs) in place of general managers and directors (GMDs) expected to be completed soon. The ED structure for PSU...
NEW DELHI: If there is one word to describe the Budget team, it’s stability. Not only has finance minister Nirmala Sitharaman stayed her full term and will present her sixth straight Budget, but there are at least two secretaries who would be there for their fifth Budget – a...
NEW DELHI: Italian-American off-road construction and agriculture firm CNH is planning to invest up to USD 50 million in the farm machinery segment in India this year and launch a 105HP tractor in May, according to a top CNH India official. CNH, which produces and sells farm machinery and...
NEW DELHI: As many as 431 infrastructure projects, each entailing an investment of Rs 150 crore or more, were hit by cost overrun of more than Rs 4.82 lakh crore in December 2023, an official report stated. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors...
NEW DELHI: The Government needs to continue with favourable policies to promote green mobility while also focussing on infrastructure development at a robust pace in the upcoming Budget, according to some leading firms in the automobile space. The Union government is all set to present the interim Budget on...
NEW DELHI: India’s natural gas demand is expected to rise by 6 per cent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA). Following the 7 per cent year-on-year decline observed in 2022, India’s primary gas...
NEW DELHI: Builders are constructing bigger homes to meet consumers’ demand as the average size of flats rose 11 per cent last year across seven major cities, according to Anarock. Real estate consultant Anarock has analysed the fresh supply of housing units during 2023 across the primary residential market...
NEW DELHI: The Tata group and European aerospace company Airbus have signed an agreement to manufacture H125 civilian helicopters together in India. This announcement came as India and France adopted a joint defence production road map and an agreement on defence space partnership, following talks between Prime Minister Narendra...
NEW DELHI: India and the UK will likely sign an agreement in early February to spurt flow of London-based patient capital funds the burgeoning infrastructure sector of the world’s fifth largest economy. India is aiming for $5-10 billion inflows in the initial phase to establish a proof of concept...
NEW DELHI: The government has halved the amount of equity infusion in state-owned fuel retailers to Rs 15,000 crore for supporting their investments in energy transition projects, the finance ministry has said. Finance Minister Nirmala Sitharaman had on February 1 last year while presenting the annual Budget for 2023-24...
MUMBAI: Private banks have continued to grow their personal loan books in the September-December quarter even after the Reserve Bank of India (RBI) raised risk weights for unsecured loans. According to the banks’ latest quarterly numbers, their personal loan books have risen between 10% and 86% year-on-year (yoy). Leading...
NEW DELHI: India Inc wants government to keep up the momentum on public spending to boost demand and step up disinvestment and asset monetisation to keep public finances in order. “India is at an important inflexion point and given the current global developments and associated headwinds, the government should...
NEW DELHI: Oil regulator PNGRB has launched a two-month long nationwide drive to increase adoption of piped natural gas as a cooking fuel in household kitchens in an attempt to cut dependence on imported fossil-fuels. “The Petroleum and Natural Gas Regulatory Board (PNGRB) along with city gas distribution entities...
NEW DELHI: Delhi-NCR witnessed a sharp 42 per decline in demand for warehouse and industrial spaces last year on high base effect and lower new supply, according to Colliers. The gross leasing of Grade-A industrial & warehousing spaces fell to 5.1 million square feet in 2023 from 8.8 million...
NEW DELHI: Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart’s user base...
The crude oil market share of the Organization of Petroleum Exporting Countries (OPEC) has been declining since the cartel came out with its Declaration of Cooperation (DoC). The share is under increasing threat from non-OPEC+ countries, analysts say. According to research agency BMI, a unit of Fitch Solutions, propping...
The Insurance Regulatory and Development Authority of India (IRDAI) has released a consolidated regulation on Expenses of Management (EoM), including commissions, based on the Regulation Review Committee’s (RRC’s) suggestions. In November 2023, IRDAI had released an exposure draft on the EoM, including commission for both life and non-life insurance...
MUMBAI: In a relief to foreign portfolio investors (FPIs) with disproportionately high exposure to a single corporate group, the Securities and Exchange Board of India (Sebi) has decided to give them more time to comply with the new disclosure norms on beneficial owners or liquidate holdings, sources close to...