Business
US Crude Production May Rise And Ease Prices, Says Hardeep Singh Puri
NEW DELHI: The United States is expected to increase domestic crude oil production under the upcoming presidency of Donald Trump, potentially expanding global supply and exerting downward pressure on prices, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Thursday. Speaking at the CII Public Sector Enterprises Summit...
Anil Ambani’s RPower Gets SECI Showcause Over ‘Fake Bank Documents’
NEW DELHI: Solar Energy Corporation of India (SECI) has issued a showcause notice to Anil Ambani-owned Reliance Power (RPower), seeking an explanation as to why criminal action should not be taken against the company for submitting “fake bank documents” through a bank that has no branch from which the...
NMDC Steel’s Nagarnar Plant Gets Electric Railway Connectivity Boost
VISAKHAPATNAM: NMDC Steel Limited’s Nagarnar facility near Jagdalpur received electrification of its railway siding. The development marks a crucial step in enhancing the plant’s logistics capabilities on the Kottavalasa Kirandul (KK) line. The 25KV AC overhead power supply system and sub-sectioning and paralleling post were jointly commissioned by Saurabh...
Uttar Pradesh Govt To Sweeten Defence Manufacturing Policy For Investors
LUCKNOW: The Uttar Pradesh government has introduced a fresh draft of the UP Defence & Aerospace (Amendment) Policy 2018 to catalyse the defence and aerospace ecosystem in the state. Under the existing scheme, the Yogi Adityanath government was aiming to attract Rs 50,000 crore worth of investment in the...
FPI-FDI Transition To Give Overseas Funds More Elbow Room, Say Experts
MUMBAI: With the new operational framework for reclassifying foreign portfolio investors (FPI) as foreign direct investment (FDI) upon breaching the 10 per cent threshold, certain overseas funds are set to get more flexibility in their India investments, experts said. There are around 17 companies listed on the National Stock...
RBI Inflation Target Credible As Expanding Supply Will Curb Pressure: S&P
NEW DELHI: S&P Global Ratings on Wednesday said supply capacity in India is continuing to expand pretty quickly which will help contain inflationary pressure. S&P Senior Economist Asia Pacific Vishrut Rana said the central bank’s monetary policy and inflation target remains credible and the Reserve Bank of India (RBI)...
Economists Revise FY25 CPI Inflation Estimates To 4.7-5 Per Cent
NEW DELHI: After October CPI shocker, most economists have raised their retail inflation estimates for the full year FY25 by 20 to 50 basis points, which they believe may prompt the RBI to consider cutting rates from the next fiscal only. According to 10 economists, who FE spoke to,...
CPSE Capex Down 8 Per Cent In April-October
NEW DELHI: Despite an improvement in capex by the central public sector enterprises (CPSEs), aggregate capex by public sector entities including NHAI and the Railways declined 8% on year in April-October of the current financial year. The slower pace of investment by railways and the National Highways Authority of...
India Gearing Up For Any Change In US Policy, Says CEA V Anantha Nageswaran
NEW DELHI: India is “better prepared” this time around for Donald Trump’s return to the White House, chief economic adviser (CEA) V Anantha Nageswaran said on Wednesday, cautioning against any “kneejerk reaction” to the current bout of stock market volatility. The CEA was in conversation with economist Prachi Mishra...
First American Turkey Shipment Leaves For Indian Market
WASHINGTON: The first shipment of American Turkey products for India left on Tuesday, marking a new phase in the bilateral trade relations between the two countries. The shipment comes over a year after India agreed to the American request to reduce high tariffs on US turkey products. US Senator...
SBI, HDFC Bank, ICICI Bank Remain Domestic Systemically Important Banks In 2024: RBI
MUMBAI: State Bank of India, HDFC Bank and ICICI Bank have again been named as Domestic Systemically Important Banks (D-SIBs) by the Reserve Bank of India. The Reserve Bank on Wednesday came out with the list of D-SIBs. Inclusion in the list requires the lenders to maintain higher Common...
Musk’s Starlink A Wolf In Sheep’s Clothing: Thinktank
NEW DELHI: Amid talk of Elon Musk’s Starlink seeking to offer satellite broadband internet service in India, think tank Kutniti Foundation has highlighted the US giant’s deep ties with US intelligence and military agencies that could impede national interests. Calling Starlink “a wolf in sheep’s clothing”, the foundation said...
Municipal Corporations To Boost Revenue Through Property Tax Reforms And Efficient Collection Mechanisms: RBI Report
MUMBAI: Municipal corporations need to enhance their sources of revenue through reforms in property tax, rationalisation of user charges, and better collection mechanisms, an RBI report has suggested. The elasticity of property tax revenues, the predominant source of tax revenue, can be improved through adopting property tax formulae which...
Euron Launches Affordable, Accessible EdTech Platform For All
BENGALURU: Euron, an innovative EdTech platform launched by Bengaluru-based entrepreneur Sudhanshu Kumar, is set to transform tech education by offering a comprehensive, accessible, and affordable solution for upskilling. Euron presents a one-stop resource for learning across key technology fields such as Python, Generative AI, and Data Science, making it...
NFRA Board Proposes New Audit Regime In India From April 2026
NEW DELHI: India could have a new accounting regime starting April 2026, as the National Financial Reporting Authority (NFRA) board has decided to suggest to the government to revise all the extant standards on auditing (SA)–including the SA600 for which it had issued draft norms– and the quality management...
90 Per Cent Of India-Russia Trade In Local Currency Now
NEW DELHI: Around 90% of trade between India and Russia is now being conducted using local or alternate currencies while the remaining still happens in other freely convertible ones, Russian Deputy Prime Minister Denis Manturov said Tuesday. “Share of local and alternative currencies keeps growing in bilateral trade. It...
October Retail Inflation Rises To 14-Month High Of 6.2%; IIP Picked Up In September
NEW DELHI: Retail inflation galloped to a 14-month high of 6.2 per cent in October, spurred by a spike in food prices, thus breaching the upper threshold of the Reserve Bank of India’s (RBI) target range. This sharp increase apparently extinguishes any remaining hopes of a policy rate cut...
PSBs Register Strong Business Growth Of 11% In H1 FY25, Says FinMin
NEW DELHI: The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At...
