Business
RBI Injects Rs 6,956 Crore As Liquidity Turns To Deficit
MUMBAI: After running surplus liquidity of about ₹1.4 lakh crore for over two months, the banking system saw a decline in cash, prompting the Reserve Bank of India to inject ₹6,956 crore on Monday. The liquidity deficit was because of the balance of payments turning negative in the ongoing...
JSW Steel, SAIL Seek Mongolian Coking Coal Imports Amid High Steel Demand
NEW DELHI: India’s JSW Steel and Steel Authority of India (SAIL) are in talks with Mongolian authorities to secure imports of coking coal, signalling a strategic move to diversify their supply sources, Reuters has reported. JSW Steel plans to purchase 2,500 metric tons, while SAIL aims to secure 75,000...
BEML Signs MoU With Mazagon Dock Shipbuilders To Advance R&D For Marine Applications
BENGALURU: Bharat Earth Movers Limited (BEML), a PSU specialising in heavy equipment manufacturing for rail, metro, and defence sectors, has signed a Memorandum of Understanding (MoU) with Mazagon Dock Shipbuilders Ltd (MDL). The partnership aims to jointly advance R&D to develop technologies for marine applications. Commenting on the partnership,...
DRDO Advancing Next Generation Main Battle Tank (NGMBT) Smoothbore Gun For The Indian Army
The Defence Research and Development Organisation (DRDO) is actively developing smoothbore guns for the Next Generation Main Battle Tank (NGMBT), which is part of the broader Future Main Battle Tank (FMBT) project aimed at modernizing the Indian Army’s armoured capabilities. This initiative is crucial as it seeks to replace...
Railway Board Forms Committee To Study Career Stagnation Of Employees In Supervisory Roles
NEW DELHI: The Railway Board has constituted a five-member committee to examine the issue of career stagnation of employees in supervisory roles in various departments and suggest modalities to improve their promotion prospects. The matter pertains to posts of senior section engineers, junior engineers, chief divisional controllers, traffic inspectors,...
No Material Impact Of TotalEnergies’ Decision As No Funding Talks Were On: Adani
NEW DELHI: Embattled billionaire Gautam Adani’s group on Tuesday said French energy giant TotalEnergies’ decision to pause new investments in the group will not have any material impact on operations and growth plans as no new funding was under discussion. TotalEnergies SE had on Monday stated that it was...
Better Infrastructure Is About Connecting Dreams, Accelerating Progress: PM Modi
NEW DELHI: Prime Minister Narendra Modi said on Tuesday that the Union Cabinet’s approval for three rail projects would benefit Maharashtra, Madhya Pradesh and Uttar Pradesh, and boost development along the busy section between Mumbai and Prayagraj. “Better infrastructure is about connecting dreams and accelerating progress,” he said in...
Food Inflation To Moderate In Coming Months: Finance Ministry
NEW DELHI: A bumper kharif harvest will lower food inflation in the coming months and India’s short-term economic outlook is cautiously optimistic, the finance ministry aid in a report on Monday. “Bright agricultural production prospects make the inflation outlook benign, despite existing price pressures in select food items. Early...
GDP Likely Grew At 6-Quarter Low Of 6.3% In Q2FY25: Economists
NEW DELHI: India’s economic growth likely slowed down to a six-quarter low of 6.3% in Q2FY25, mainly due to a moderation in growth of both manufacturing and services sectors, going by the median of poll among 18 economists. In Q1 of FY25, the gross domestic product (GDP) had grown...
S&P Global Cuts India’s FY26 GDP Growth Forecast To 6.7% From 6.9%
NEW DELHI: Credit ratings agency S&P Global on Monday pared down its growth forecast for India to 6.7 per cent in FY26 from the earlier estimate of 6.9 per cent. However, in its latest quarterly economic update for Asia-Pacific, the rating agency maintained its growth forecast for the current...
TotalEnergies Pauses Investments In Adani Group After Bribery Charges
MUMBAI: Coal-to-airports conglomerate Adani group started the week navigating conflicting signals from its global investors. While French energy giant TotalEnergies on Monday announced a pause on new investments citing corruption allegations by the US Securities and Exchange Commission (SEC), Florida-based GQG Partners expressed its confidence in the group, emphasising...
NFRA Moves To Extend Company Audit Rules To Limited Liability Partnerships
NEW DELHI: The National Financial Reporting Authority (NFRA) on Monday recommended that the auditing standards proposed for companies be made applicable to limited liability partnerships (LLPs) as well, according to a press statement. The decision to make these recommendations to the Ministry of Corporate Affairs was made during its...
India’s GenAI Ecosystem Soars With 6 Times Growth In Q2FY25 Amid Global Slump: Nasscom Report
NEW DELHI: India’s Generative AI ecosystem has grown remarkably amid a global downturn, recording an impressive 6 times growth in quarterly investments driven by B2B and productivity solutions, according to a report by IT industry body nasscom. Nasscom on Monday released the “Generative AI Tracker: Tech Industry Activity in...
Coal India Floats Tender Seeking Bids From Private Players For E-Auction
KOLKATA: Despite having switched to its internal e-auction platform in January this year, Coal India Ltd (CIL) has floated a tender seeking bids from private service providers to conduct e-auctions of the dry fuel for its subsidiaries over the next two years, officials said on Monday. This move has...
About Seven Per Cent Workforce Growth Expected In H2 Driven By Logistics, E-Comm: Report
MUMBAI: With 59 per cent of employers planning to increase headcount in October-March FY25, 7.1 per cent workforce growth is expected during the period, driven by logistics, e-commerce, and manufacturing sectors, a report said. According to TeamLease Services ‘Employment Outlook Report for October 2024 to March 2025’, an additional...
India’s Economic Outlook For Coming Months ‘Cautiously Optimistic’: Finmin Report
NEW DELHI: India’s economic outlook for the coming months is ‘cautiously optimistic’, with agriculture likely to benefit from favourable monsoon conditions, increased minimum support prices and adequate supply of inputs, the finance ministry said in a report. “Bright agricultural production prospects make the inflation outlook benign, despite existing price...
Edible Oil Body SEA Urges Govt To Lift Ban On Commodity Futures Trading
NEW DELHI: Edible oil industry SEA on Monday called on the government to lift a ban on futures trading in key agricultural commodities, including crude palm oil and soyabean, citing significant financial impact on its members. The ban, first implemented in December 2021 on seven agricultural commodities, has been...
55% Of Indian Economy Continues To Grow Positively: Report
NEW DELHI: A major portion of the Indian economy, 55 per cent, is witnessing an upward trend despite fluctuations, recent report by HSBC Global Research. The report noted that the economy was falling into a moderate track following a period of rapid stock market gains and robust GDP growth....
