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NEW DELHI: Sheela Foam, which owns two leading mattress brands — Sleepwell and Kurlon — expects a double-digit CAGR growth of 14 to 15 per cent in short to mid-term, its CEO Nilesh Mazumdar has said. Sheela Foam, which acquired the Kurlon brand last year, has rebranded it with...
TAIPEI: India’s personal computer (PC) market is better than the rest of the world and low penetration level of the devices offers a good growth opportunity for the Taiwanese tech major Asus, senior company officials have said. The Taiwanese PC maker has seen positive growth in the Indian market....
DUBAI: India is a big aviation market and a stronger partnership between Air India and Lufthansa is good, as efforts of the Star Alliance are to bring the partners together to provide a unique value proposition for the passengers, the airline grouping’s CEO Theo Panagiotoulias has said. Air India...
MUMBAI: The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released...
NEW DELHI: India’s Gross Domestic Product (GDP) may expand less than 7% in the current financial year due to external headwinds, statistical effect of a high base and technical factors, economists said. On Friday, the Reserve Bank of India (RBI) raised India’s GDP growth projection by 20 basis points...
NEW DELHI: State-run banks are hopeful of a more lucrative performance-linked incentive (PLI) for their employees as a new coalition government takes charge. They are also likely to push for a five-day banking week. Both bank unions and employee associations have been demanding a review of the existing PLI...
NEW DELHI: The new coalition government is expected to ensure policy continuity for the energy and commodity sectors with a focus on energy transition and meeting the goal of net zero by 2070, analysts said. However, the lower-than-expected seat share by the Bharatiya Janata Party in Lok Sabha has...
NEW DELHI: Adani Group plans to invest over $1 billion in setting up projects in Sri Lanka to generate electricity from wind in what would be the island nation’s single largest foreign direct investment and the biggest ever power project, sources said. Group firm Adani Green Energy Ltd (AGEL)...
MUMBAI: The Reserve Bank of India has brought 100 metric tonnes of gold reserve from the UK to India as there is enough domestic storage capacity, and nothing more should be read into it, Governor Shaktikanta Das said on Friday. The RBI moved 100 metric tonnes of its gold...
NEW DELHI: India’s strong growth is leading to a trend of ‘reverse flipping’ as domestic startups that once used to move abroad for capital access and tax benefits are now returning home, a top government official has said. Commerce Secretary Sunil Barthwal also said that the digital economy along...
NEW DELHI: Saudia Group is keen to increase the number of flights connecting Saudi Arabia and India as well as provide MRO services to Indian carriers. Saudia Airlines, part of the group, currently operates 54 weekly flights connecting seven destinations in India, including Delhi, Mumbai and Hyderabad. An executive...
NEW DELHI: Sebi has been given ‘Best Conduct of Business Regulator’ award in Asia Pacific by The Asian Banker for its role in enhancing the regulatory framework for securities markets in India. The award was received by Sebi’s Whole Time Member Kamlesh Chandra Varshney in a ceremony held in...
HONG KONG: China’s exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released on Friday. Exports jumped 7.6 per cent in May from the same month last year to USD 302.35...
NEW DELHI: A clutch of steps aimed at addressing the issue of income stagnation being faced by sections of the population and the persisting rural distress could be part of the short-term agenda of the new government, according to sources privy to the deliberations in the National Democratic Alliance...
NEW DELHI: The telecom sector regulator has sought views on the need to come up with relevant definitions for inactive landline and mobile connections, in a new discussion paper around formulating a revised national numbering plan for telecom services after factoring in resource constraints. It also wants industry suggestions...
NEW DELHI: Investment in the country’s power sector will be driven by renewable energy and power transmission over the coming years, according to a report by Moody’s Ratings on Thursday. The agency said India’s target of 500 gigawatt (Gw) of renewable energy capacity by 2030 requires $190 billion to...
NEW DELHI: The much-awaited amendments to the Insolvency and Bankruptcy Code (IBC), including those aimed at expediting the resolution process, and introduction of cross-border and group insolvency regimes, may undergo a review by the incoming government before being taken to Parliament for approval, official sources told FE on condition...
MUMBAI: The Reserve Bank of India (RBI) may allow Security Receipts (SR) holders to change the trusteeship of Asset Reconstruction Companies (ARCs). This change would enable ARCs to retain stressed assets without acting as trustees, thereby expediting the resolution process. Banks, non-banking financial companies (NBFCs) and foreign portfolio investors...