Business
Mercedes-Benz India To Hike Prices By Up To Three Per Cent
NEW DELHI: German luxury carmaker Mercedes-Benz on Friday said it will hike prices of its vehicles in India by up to 3 per cent on its entire model range in the portfolio from January 1, 2025, citing a rise in input costs, inflationary pressures and higher operational expenses. Prices...
WPI Inflation Hits 4-Month High Of 2.36% In October On Food Price Spike
NEW DELHI: India’s Wholesale Price Index (WPI)-based inflation increased in October to a four-month high of 2.36 per cent from 1.84 per cent in September, primarily on the back of a spike in the prices of food items, particularly vegetables. The latest WPI data comes days after Consumer Price...
India’s Merchandise Exports Surge 17% In October, Fastest Pace In 28 Months
NEW DELHI: India’s merchandise exports grew at the fastest pace in 28 months in October, witnessing double-digit growth of 17.3 per cent year-on-year (Y-o-Y) to touch $39.2 billion, due to inventory build-up in the Western countries ahead of the Christmas season. However, the imports hit an all-time high of...
Deposit Growth Equals Credit In November 1 Fortnight, Shows RBI Data
MUMBAI: After edging past credit growth for the first time in 30 months in the fortnight ended October 18, deposit growth was almost on a par with credit growth in the November 1 fortnight, with credit growing by 11.9 per cent and deposit growing by 11.83 per cent year-on-year...
India To Grow 6.7% On Average To Touch $7-Trillion Mark By 2031
NEW DELHI: India’s gross domestic product (GDP) growth is expected to moderate to 6.8% this fiscal year (FY25) from the robust 8.2% in FY24 as high interest rates and stricter lending norms begin to temper urban demand, said rating agency Crisil. “A somewhat lower fiscal impulse to growth (as...
MGNREGS Outlay May Be Hiked By Rs 10,000 Crore
NEW DELHI: The Centre may increase the outlay for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) by around 10% over the budget estimate of Rs 86,000 crore for the current financial year, factoring in work demands as well as wage increases, official sources said. So far in FY25,...
GAIL Inks Pact With Abu Dhabi Firm For LNG Supply
NEW DELHI: GAIL (India) Limited has signed a 10-year sales and purchase agreement (SPA) with Abu Dhabi’s ADNOC Gas for the delivery of up to 0.52 million metric tonnes per annum (MMTPA) of liquefied natural gas (LNG), starting in 2026, the company said on Thursday. This is the first...
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...
