Business
COP29 Climate Summit Overruns As $250 Billion Draft Deal Stalls
BAKU: The COP29 climate summit ran into overtime on Friday, after a draft deal that proposed developed nations take the lead in providing $250 billion in annual climate finance by 2035 drew criticism from all sides. Showing some progress late on Friday, the COP29 presidency released what it hopes...
Stable Inflation Is Important To Sustain Growth: RBI Governor
MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the central bank remains committed to realigning inflation with the legally mandated 4% goal on a durable basis, effectively dashing expectations of a rate cut in the near future. Speaking at the ‘High-Level Policy Conference of Central...
Private Banks Seek Reduction In Mudra Targets
NEW DELHI: Some private banks have made a case for reducing the targets prescribed for Mudra loans amid growing concerns about rising stress in the portfolio of loans to micro, small and medium enterprises (MSMEs). Private lenders have argued that in some cases the current targets exceed their entire...
Commissioning Of AGEL’s Renewable Energy Projects, Cash Flows May Get Delayed
NEW DELHI/MUMBAI: An immediate fallout of the US’s bribery charges against Adani group would be a slowing of the pace of its massive renewable energy (RE) ventures, and a delay in start of cash flows from the power supply contracts that looked lucrative and but have now come under...
Companies Boost Childcare Benefits For Employees
NEW DELHI: With Children’s Day just behind us, India Inc has a timely opportunity to assess the progress of its childcare and parental policies, especially since these benefits became mandatory in 2017. Increasingly, companies are budgeting for childcare/daycare expenses as part of the HR policies. The number of companies...
Industrial Township Scheme To Be Extended To Smaller Cities
NEW DELHI: After 20 smart industrial townships under construction, the government is now looking to facilitate setting up of more industrial parks in smaller towns and cities, a senior official said Thursday. “We are hopeful that the framework for them (industrial parks) will be ready within this fiscal year,”...
US Regulators Seek To Break Up Google, Force Sale Of Chrome Browser
WASHINGTON: US regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade. The proposed breakup floated in a 23-page document filed late...
Steelmakers Need To Collaborate With IISc and IITs: Minister
BENGALURU: Union Steel Minister HD Kumaraswamy has said that steelmakers need to collaborate with leading institutions such as the Indian Institute of Science (IISc) and the Indian Institutes of Technology (IITs) to create a globally-competitive and technologically-advanced steel industry. He said India’s steel sector stands as the backbone of...
Adani Group MCAP Plunges By Rs 2.19 Lakh Crore After Bribery Charges In US
NEW DELHI: The combined market valuation of all 10 listed Adani group firms fell by Rs 2.19 lakh crore on Thursday, more than double of what the conglomerate lost when the US short seller Hindenburg brought out a damning report in January 2023. Shares of Adani group firms fell...
KMF Enters Delhi-NCR With Competitive Pricing On Nandini Products
NEW DELHI: Karnataka Chief Minister Siddaramaiah on Thursday launched the Karnataka Milk Federation’s (KMF) Nandini brand milk products in the Delhi-NCR market, pricing them marginally lower than competitors to gain a foothold in the region. The cooperative will retail four cow milk variants, curd, and buttermilk from Friday, with...
Belrise Industries Files Papers To Raise Rs 2,150 Crore Via IPO
NEW DELHI: Automotive component maker Belrise Industries has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,150 crore through an initial public offering (IPO). The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red...
Unchecked Inflation Can Hurt Real Economy Prospects, Says RBI Report
MUMBAI: Following retail inflation spike in October, the Reserve Bank of India’s (RBI’s) state of the economy report warned that rising prices, if unchecked, would undermine prospects of the real economy while cautioning on the spillover effect of rising food prices on headline and said uptick in core inflation...
Services Exports To Outgrow Merchandise By FY30: GTRI
NEW DELHI: Services exports at around $618 billion are expected to outpace merchandise exports by FY30. Within services, information technology and IT-enabled services (ITeS) may take a backseat, according to a report. Between 2018-19 and 2023-24, goods exports witnessed a compounded annual growth rate (CAGR) of 5.8 %, while...
India and The UK Set To Resume Free Trade Agreement Negotiations In 2025
NEW DELHI: India and the United Kingdom are poised to resume talks for their proposed Free Trade Agreement (FTA) in early 2025. This follows an announcement by British Prime Minister Keir Starmer after a bilateral meeting with Indian Prime Minister Narendra Modi at the G20 Summit in Brazil. The...
IT Companies Gear Up To Retain Business As New Deals Dry Up
BENGALURU: Following an expansion in large deal pipelines during 2022 and 2023, there is a noticeable decline in new mega IT deals entering the market. However, with a slew of renewals coming up next year, incumbents will defend their business interests and revenue. Although these contracts are up for...
Initial Public Offers Wait For Visibility As Fog Deepens
MUMBAI: With the stock markets going through a phase of steep correction for over a month now, many companies which had planned initial public offers (IPOs) are waiting for clarity before taking the plunge, said investment banking sources. “We are not in favor of launching issues right now as...
LNG Imports Likely To Rise 7 Per Cent In 2025
NEW DELHI: India’s import bill for natural gas surged by 17% to $8.9 billion during the first seven months of the current fiscal compared with $7.6 billion in the same period a year ago due to rise in consumption particularly by the city gas distribution companies and the power...
Chief Minister Chandrababu Naidu Fulfills Promise: Rs 60,000 Crore BPCL Project To Come Up Near Andhra Port
NEW DELHI: Andhra Pradesh is set to get an oil refinery and a petrochemical hub at Ramayapatnam in Nellore district that entails an investment of Rs 60,000 crore, fulfilling a promise made at the time of the state’s bifurcation in 2014 and giving chief minister N Chandrababu Naidu a...
