Business
AM/NS India Plans To Develop Greenfield Jetty Near Hazira
AHMEDABAD: ArcelorMittal Nippon Steel India (AM/NS India), a joint-venture between ArcelorMittal and Nippon Steel, plans to develop a Deep Draft Greenfield Jetty having a capacity of 65 million metric tonnes per annum (MMTPA) at Suvali in Shivrampur village near Hazira. The proposed jetty project is envisaged to meet AM/NS...
RIL Posts 29.7 Per Cent Jump In Q2 Net Profit To ₹19,878 Crore
MUMBAI: Reliance Industries Ltd (RIL), India’s biggest company by market capitalization, reported a 29.7% increase in consolidated net profit for the July-September quarter on account of higher sales and the robust overall performance of its businesses. Net profit rose to ₹19,878 crore from ₹15,332 crore in the year earlier....
India Inc Divided On Narayana Murthy’s Call For 70-Hour Work Week To Youth
KOLKATA\BENGALURU\CHENNAI\MUMBAI: How much time should one devote to work? Do long working hours mean more productivity? How important is the work-life balance in fostering creativity? India Inc seemed to be divided on such questions after Infosys founder Narayana Murthy suggested a 70-hour work week for “youngsters” to make the...
India Mobile Congress 2023: India Will Lead The World In 6G, Says PM Modi
NEW DELHI: Even as 5G, 6G, made-in-India phones and the role of tech revolution in bringing social justice dominated the seventh edition of the country’s flagship telecom summit ‘India Mobile Congress’, satellite communication managed to steal some of the thunder. At New Delhi’s Bharat Mandapam, which had last month...
JP Morgan Upgrades India To ‘Overweight’ From ‘Neutral’ Ahead Of Elections
MUMBAI: JPMorgan has upgraded the domestic markets to ‘overweight’ (OW) from ‘neutral’ on the “positive historical seasonality to general elections.” The investment bank joins US-based peer Morgan Stanley to flag preference for the Indian markets, which has been the leading performer in the emerging market (EM) pack since 2021....
Tata Group To Make iPhones In India
BENGALURU: It’s final. Taiwan-based Apple contract manufacturer Wistron Corp on Friday approved the sale of its plant in Karnataka to Tata group. This paves the way for the salt-to-software conglomerate to become the first domestic entity to manufacture iPhones. “The transaction price is tentatively estimated at $125 million,” Wistron...
G-7 Trade Chiefs Set To Tackle Supply Chains, Economic Coercion
Trade ministers from the world’s most advanced economies will seek strategies to make global supply chains more resilient and governments less vulnerable to economic coercion from the likes of China when they gather in Osaka this weekend. Group of Seven trade ministers convene on Saturday and Sunday against a...
Air India Appoints Klaus Goersch As Chief Operations Officer
Mumbai: Air India on Friday announced the appointment of Klaus Goersch as the Executive Vice President and Chief Operations Officer, as well as various other senior level appointments. In the newly-created position at the airline, Mr Goersch will oversee flight operations, engineering, ground operations, Integrated Operations Control and cabin...
Govt Hikes Allocation Of Wheat Under Open Market Sale Scheme
The government has decided to offload 0.3 million tonnes (MT) under the open market sale scheme (OMSS) by the Food Corporation of India (FCI) in its weekly e-auction from next month, against 0.2 MT currently being offered for the bulk purchaser to cool down the prices. Sources told FE...
Unilever Flags Pricing Pressure In India As Inflation Eases
Global consumer goods major Unilever says the India market, its second-largest in the world, may see a deflation in pricing within skincare and fabric cleansing, as commodity inflation moderates. The India unit of the London-headquartered company reported a flat price-led growth last week for the September quarter as it...
Isha, Akash, Anant Get Shareholders’ Approval To Be Appointed On RIL Board
MUMBAI: Shareholders of Reliance Industries Ltd have approved the appointment of Isha Ambani, Akash Ambani and Anant Ambani to the company’s board as Non-Executive Directors with the required majority. While Isha and Akash got approval from 98 per cent of shareholders, Anant got approval from 92 per cent of...
Create New Domains That Can Be Followed By Other Countries: PM To Telecom Companies
NEW DELHI: Prime Minister Narendra Modi on Friday urged telecom and technology companies to create new domains that can be followed by other countries in future. Citing the example of UPI, a leading digital payments system, he said, “India has the power of a young demography and vibrant democracy....
US To Withdraw Key Proposal On Digital Trade
NEW DELHI: The United States has decided to withdraw its support for an initiative at the World Trade Organisation on free cross-border data flows without localisation, a move that strengthens India’s approach on retaining control over its data. Washington has decided to withdraw its proposal on digital trade at...
RBI To Call Out Liquidity Skew With Bankers
MUMBAI: The Reserve Bank of India is likely to meet with banks next week to discuss the key issues of liquidity in the banking system and developments in sovereign debt yields, which serve as benchmarks for pricing corporate borrowing. “There are meetings scheduled on November 2 and November 3....
Government Hints Against Hike In Fuel Prices
NEW DELHI: State-run oil marketing companies (OMCs) have the capacity to absorb the global crude price shocks as they have made large profits (in the previous quarters) due to high prices, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri told FE on Thursday. Though it has been...
P-Notes Investment Continues To Swell For Seventh Month On Robust Macros
MUMBAI: Investment in the Indian capital markets through participatory notes rose over a six-year high at Rs 1.33 lakh crore at September-end, making it the seventh consecutive monthly increase, on the back of robust macroeconomic fundamentals. This is the highest level since July 2017 — when investment through the...
India, Other WTO Members Criticise EU, UK On Steel Safeguard Measures
NEW DELHI: India and some other nations, including Switzerland, Brazil, China, Japan, Korea and Russia, have criticised the EU for deciding against terminating its safeguard measure on imports of certain steel products after carrying out a review. Most argued the EU’s safeguard duty, imposed after the Trump administration in...
US Withdraws Proposal On Digital Trade At WTO
NEW DELHI: In a leg-up for India’s consistent stand against global rules on e-commerce, the US has decided to withdraw its proposal on digital trade at the WTO to retain the policy space for regulating big-tech firms. The US proposal on e-commerce rules, withdrawn at the WTO’s Joint Statement...
