Business
Food Inflation Control Priority For Government: Pralhad Joshi
NEW DELHI: Food minister Pralhad Joshi on Thursday said that prices of essential commodities are stable and likely to remain so in the coming festive seasons while the recent spurt in onion prices is being curbed through releasing the government’s stock. “Keeping food inflation under control is a priority...
India-EFTA Trade Deal Moves Forward
NEW DELHI: Switzerland’s federal cabinet has adopted the ambitious trade pact between India and the European Free Trade Association (EFTA) and placed it before Parliament as part of the ratification process. The ambitious trade pact, signed in March between India and the European bloc comprising Norway, Switzerland, Iceland and...
Mercedes Eyes India As Top Luxury Market
PUNE: German luxury car maker Mercedes-Benz India on Thursday said India has the potential to become one of the top five markets for its Maybach brand of cars in sales volume. Launching the electric version of its first-ever all-electric Mercedes-Maybach in India, the company’s managing director and CEO Santosh...
SAIL Offers Support For Critical Mineral Mission
NEW DELHI: SAIL, the country’s largest steel player, is willing to participate in the Critical Mineral Mission, which aims to secure the country’s critical mineral supply chain by ensuring mineral availability from domestic and foreign sources, the company’s Chairman Amarendu Prakash said on Thursday. The Union Budget 2024-25 had...
Suresh Prabhu nominated to World Agriculture Forum Board
NEW DELHI: Former Union Minister and Rajya Sabha member Suresh Prabhu on Thursday nominated to the World Agriculture Forum (WAF) Board. In a communication, Rudy Rabbinge, Chairman of WAF Board, said that Prabhu’s expertise would be invaluable to the discussions that shape the future of the agri sector.”Given your...
Foreign Inflows Lift Markets High
MUMBAI: Benchmark equity indices Sensex and Nifty surrendered early gains to close lower for the second straight day on Thursday, tracking losses in the most valuable firm Reliance Industries, Bharati Airtel and L&T amid a sluggish trend in global markets. The 30-share BSE Sensex failed to hold on to...
Growth In New Business Thrusts Services PMI To 5-Month High In August
NEW DELHI: Growth in India’s dominant services sector rose to a five-month high in August as new businesses expanded amid easing inflationary pressure, said a private survey on Wednesday. The HSBC headline Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 60.9 in August from 60.3 in July....
Onboarding By P2P Lenders Plummets More Than 90 Per Cent
MUMBAI: Hit hard by the recent guidelines issued by the Reserve Bank of India (RBI), more than half of the peer-to-peer (P2P) lending platforms have halted the onboarding of new customers. Previously, these platforms were bringing on 250,000 to 300,000 users (both borrowers and lenders) each month, but this...
Govt Eyes Extra Sops For Mobile Makers Topping PLI Targets
NEW DELHI: The government is mulling ways in which it can provide additional incentives to companies that have been able to produce, sell and export mobile phones over and above the production targets set for them every financial year under the mobile phone production-linked incentive (PLI) scheme, sources told...
Govt Conducting Feasibility Study To Transport Green Hydrogen Through Pipelines
NEW DELHI: The Central Electricity Authority in collaboration with state-owned energy and power companies including GAIL, IOCL, and NTPC is conducting a feasibility study to explore possibilities and cost dynamics of transporting green hydrogen through pipelines from renewable energy zones to ports to meet domestic demand as well as...
Centre Awards RIL Full Quota Of Advanced Chemistry Cell Under PLI-II
NEW DELHI: Oil to telecom behemoth Reliance Industries Limited (RIL) has been awarded the complete capacity of the Advanced Chemistry Cell (ACC) offered under the second tranche of the Production Linked Incentive (PLI) scheme. The ministry of heavy industries (MHI) in a public announcement said the award followed the...
Solar Cells Production To Come Under Approved List
NEW DELHI: The ministry of new and renewable energy is planning to bring out a policy similar to the Approved List of Models and Manufacturers (ALMM) for solar modules for solar cells, to ensure better quality of these items while also providing a boost to domestic manufacturing. “ALMM for...
Analysts Bullish On Defence Stocks As DAC Okays Rs 1.4-Trillion Acquisition
NEW DELHI: The Defence Acquisition Council’s (DAC’s) approval for 10 capital acquisition proposals worth nearly Rs 1.45 trillion, to enhance defence preparedness, triggered a sharp surge in related stocks on Wednesday. On the BSE, Cochin Shipyard, Mazagon Dock Shipbuilders, Paras Defence and Space Technologies, Hindustan Aeronautics (HAL), and Garden...
Govt Mulls Import Duty Hike On Steel To Counter Chinese ‘Dumping’
NEW DELHI: The Steel Ministry has backed industry’s demand for an import duty hike on the metal offerings coming in, particularly from China and other South-East Asian nations. The pitch – to the PMO and Finance Ministry – would be to raise tariffs to 10-12 per cent, from the...
Steel Firms May Ward Off Import Threat With Higher Tariffs
NEW DELHI: India’s primary steel manufacturers including Tata Steel, JSW, AM/NS and state-run SAIL may get a reprieve from the prospect of “unsustainable prices’ wiping off their margins, in the form of higher import tariffs on their key products like hot rolled coil (HRC). Union Steel Minister H D...
India Must Avoid Sway Of Financial Markets’ Expectations Over Macro Outcomes: CEA
NEW DELHI: Chief Economic Advisor (CEA) V Anantha Nageswaran on Monday warned that as financial markets become bigger than the economy, it is natural, but not reasonable, that the priorities of the financial market dominate macroeconomic outcomes. But India, which looks ahead to 2047, should avoid this trend as...
Growth In Indian Manufacturing Sector Slows To 3-Month Low In August, PMI Dips To 57.5
NEW DELHI: Growth in the Indian manufacturing sector slowed to a three-month low in August, as firms saw softer growth in new orders and output. The headline Purchasing Managers Index (PMI) figure released by HSBC on Monday stood at 57.5, down from 58.1 in July. A figure above 50...
Single Corporate Filing With Exchanges Soon: SEBI Chief
MUMBAI: The Securities and Exchange Board of India (Sebi) will soon bring a system of single corporate filing with exchanges in a bid to ease compliance norms for companies, its chairperson Madhabi Puri Buch said. “It is a work in progress. If you file your disclosure with one exchange,...
