Business
COP29 Climate Agreement A Boost For India’s Carbon Market Ambitions
BAKU, AZERBAIJAN: India’s plans to set up a carbon market received a boost at the 29th Conference of the Parties (COP29) in Baku, Azerbaijan, after the United Nations Framework Convention on Climate Change (UNFCCC) ratified key rules for a global carbon trading mechanism at this UN-sponsored climate event, officials...
SEBI Extends Deadline For Comments On Proposed Specified Digital Platform
NEW DELHI: Markets regulator Sebi on Tuesday extended the deadline for public comments till November 26 on the proposal concerning requirements for recognition as specified digital platforms (SDPs). Earlier, the comments from the public were sought till November 12. “Based on the representations received by Sebi from some of...
Sitharaman To Meet State FMs For Pre-Budget, GST Council Meet On December 21-22
NEW DELHI: Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said. The meeting assumes significance as states finance ministers would present their recommendations for 2025-26 Budget to be unveiled on February...
Majority Of Indian Businesses Invest In AI But Only 39 Per Cent Ready To Fight Ransomware Attacks: Report
NEW DELHI: Spotlighting a critical vulnerability in the country’s cybersecurity landscape, a recent report has said while Indian businesses are actively looking to capitalise on AI and investments are rising, only 39 per cent of them are prepared to survive a prolonged ransomware attack. Cybersecurity firm Sophos on Tuesday...
Coca-Cola India FY24 Profit Falls 42 Per Cent To Rs 420.29 Crore Revenue Rises 4 Per Cent To Rs 4,713.38 Crore
NEW DELHI: Beverages major Coca-Cola India’s consolidated profit fell 41.82 per cent to Rs 420.29 crore in FY24 while its revenue rose 4.24 per cent to Rs 4,713.38 crore, according to the company’s filing to RoC (Registrar of Companies). Its total income, which also includes other income, was up...
NSE Inks Pact With Zomato To Empower Delivery Partners With Financial Literacy
NEW DELHI: The National Stock Exchange of India (NSE) on Tuesday said it has inked a pact with online food delivery platform Zomato to promote financial literacy and investor awareness programmes among the gig economy workers. This partnership aims to launch an extensive financial literacy and investor awareness drive,...
Government Will Maintain Checks On FDI In ‘National Interest’: FM
NEW DELHI: Amid expectations of easing curbs on investment from China, finance minister Nirmala Sitharaman on Wednesday said government will maintain checks on FDI in the “national interest,” given the sensitivity in the region. “We want business, we want investments, but we also need some safeguards because India is...
Centre To Infuse Capital Into RINL, Restructure Loans
NEW DELHI: With privatisation of Rashtriya Ispat Nigam Ltd (RINL) put on the back burner, the Centre is working on a package for the steel maker that would involve fresh equity infusion, restructuring of bank loans, and setting operational goals for the top management, sources told FE. The privatisation...
India Cannot Risk Another Bout Of Inflation: RBI Governor
MUMBAI: India cannot risk another surge in inflation, and the best approach would be to wait for clearer evidence of inflation aligning durably with the target, Reserve Bank of India governor Shaktikanta Das said in the minutes of the monetary policy meeting released on Wednesday. He said that uncertainties...
Banks Load Up On Short-Term Government Bonds Ahead Of New LCR Norms
MUMBAI: With the Reserve Bank of India (RBI) planning to implement draft guidelines pertaining to the liquidity coverage ratio (LCR) from April, banks have started shuffling their investment portfolios among different investment categories. Keeping draft LCR guidelines in mind, banks are planning to expand their availability for sale (AFS)...
India Remains World’s Largest Growing Economy: IMF
WASHINGTON: India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country’s macroeconomic fundamentals are good. “India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported...
States Should Regulate Industrial Alcohol, Not Centre: SC
NEW DELHI: In an 8:1 majority ruling, the Supreme Court on Wednesday overturned a seven-judge bench verdict and held that States have regulatory power over production, manufacture and supply of industrial alcohol. In 1997, the seven-judge bench ruled that the Centre had the regulatory power over the production of...
Indian Entertainment Industry Lost Rs 22,400 Crore To Piracy In 2023
NEW DELHI: The Indian entertainment industry suffered a staggering loss of Rs 22,400 crore in 2023 due to piracy, according to a report released on Wednesday, that advocated for stronger regulations and collaborative efforts to effectively mitigate piracy risks. According to “The Rob Report” by EY and the Internet...
AIIMS Delhi Hosts Workshop To Empower Medicos With AI Skills
NEW DELHI: AIIMS New Delhi on Wednesday hosted an intensive workshop on emerging technologies, specifically focusing on Artificial Intelligence (AI). With AI projected to revolutionize the healthcare sector in India, the workshop aimed to equip medicos with the necessary skills and knowledge to leverage AI’s transformative power. AIIMS Delhi...
IMF: The Fight Against High Inflation Is ‘Almost Won’
WASHINGTON: The global war against inflation has largely been won – and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday. In its latest assessment of the global economy, the IMF predicted that worldwide inflation will cool from 6.7% last year to 5.8% this year...
Centre Expands ‘Bharat’ Brand To Include Chana Whole And Masur Dal
NEW DELHI: The Centre on Wednesday expanded its subsidised pulses programme, adding chana whole and masur dal under the ‘Bharat’ brand in a bid to check rising prices. Food and Consumer Affairs Minister Prahlad Joshi, who launched Phase II of the initiative, said chana whole will be retailed at...
Work On 10 More Nuclear Reactors Underway In Country, Parliamentary Panel Told
New Delhi: At least 10 nuclear reactors are being installed in the country while two reactors in Gujarat’s Kakrapar have started generating power commercially, the Parliamentary Standing Committee on Science and Technology was informed on Monday. According to sources, the new nuclear reactors coming up in states like Gujarat,...
Rs 4 Trillion Transmission Infra Required To Meet 2027 Power Demand: CEA
NEW DELHI: To meet an expected power demand of 277 gigawatt (Gw) by 2027, India will require an investment of Rs 4.25 trillion in power transmission infrastructure, according to the latest National Electricity Plan (NEP) on transmission released by the Central Electricity Authority. The Central Electricity Authority is the...
