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MUMBAI: The central government has announced plans to borrow 53.07 per cent of its full-year target in the first half (April-September) of the upcoming financial year (FY25). In a departure from the usual pattern of issuing green bonds in the latter half of the year, the Union government plans...
MUMBAI: The Reserve Bank of India Wednesday cushioned the blow on banks and NBFCs that invest in Alternative Investment Funds (AIFs). The investments will exclude equity investments, but debt and hybrid instruments will continue to face additional curbs the regulator had announced earlier. It also eased the provisioning requirements,...
NEW DELHI: India needs to make its growth and production more employment intensive while improving the quality of jobs, the International Labour Organisation said in a report brought out in association with the Institute for Human Development. Outlining the five most critical policy issues that need intervention at the...
By February 2024, India’s biomass power capacity had surged to 10,845 MW as per the Ministry of New and Renewable Energy (MNRE). This surge in biomass power is crucial for India as it aims to meet 50% of its energy requirements from renewables. In this context, the efficient management...
NEW DELHI: Despite ambitious net-zero targets and an ongoing energy transition, India’s coal production continues to meet its growing electricity demand. The country recorded a multifold rise in its thermal capacity addition so far in FY24 (April-February) to 5.75 GW compared to just 450 MW a year ago, according...
NEW DELHI: State-run NTPC group has inked foreign currency loan agreements worth JPY 30 billion, or roughly $200 million, with the Japan Bank for International Co-operation (JBIC). The loan facility of around ₹1,650 crore extended by the Japanese Government’s policy-based financial institution, is divided into two equal halves for...
NEW DELHI: India’s steel trade deficit has come down to ₹10,411 crore ($1,258 million) for the April–February period, down 10 per cent sequentially, on the back of improving exports, and stable imports during February, a report of the Steel Ministry, accessed by businessline show. Trade deficit was ₹11,564 crore...
NEW DELHI: Japanese auto major Nissan Motor Co Ltd plans to launch three all-new models in India by fiscal year 2026 and make the country a hub for exports under its new global business plan to drive value and strengthen competitiveness, according to a company statement. Under the new...
NEW DELHI: There is “no alternative” for India to have growth led by labour-intensive manufacturing at least for the next 10 years to absorb seven-eight million youths who will join the labour force annually, a report jointly prepared by the International Labour Organization (ILO) and Institute for Human Development...
MUMBAI: Current account deficit (CAD) narrowed sequentially to $10.5 billion in the quarter ended December 2023 (Q3 FY24) — 1.2 per cent of gross domestic product (GDP) — from $11.4 billion in Q2 FY24 (1.3 per cent of GDP). The deficit was also down from $16.8 billion or 2...
NEW DELHI: India’s foreign trade is likely to push the country’s gross domestic product (GDP) growth by about 0.3-0.4 percentage points (pps) in Q4 FY24, after being a drag for three consecutive past quarters, economists reckon. “For the first time this fiscal, we anticipate foreign trade to contribute positively...
NEW DELHI: Indian lenders and Russia’s Gazprombank have held exploratory talks over setting up correspondent banking services to facilitate cross-border payments and support international trade, according to a senior bank executive.Gazprombank representatives met some Indian bankers last month to discuss the proposal, the executive told ET. Correspondent banking involves...
NEW DELHI: S&P Global on Tuesday raised its forecast for India’s real economic growth in the next financial year (2024-25) by 0.4 percentage point to 6.8%, but still kept it much below the 7.6% GDP expansion rate estimated by India’s official statistics agency for the current year. In the...
LONDON: Billionaire Gautam Adani’s group is building the world’s largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of ‘Energy Revolution: The Adani Green Energy Gallery’ at the Science Museum in London, Gautam...
NEW DELHI: Insurance behemoth Life Insurance Corporation of India (LIC) has emerged as the strongest insurance brand globally, according to a report Brand Finance Insurance 100 2024. The report said that LIC’s brand value remains steady at USD 9.8 billion, accompanied by a brand strength index score of 88.3...
NEW DELHI: Online marketplace Amazon invested more than USD 1.2 billion and hired about 15,000 experts in 2023 to protect the brand, its sellers, and customers from fraud and counterfeit, according to the Amazon 2023 Brand Protection Report. Amazon said when a customer purchases from the store, they trust...
NEW DELHI: The Shapoorji Pallonji Group on Tuesday announced the sale of its brownfield Gopalpur Port to Adani Ports and SEZ Ltd for an enterprise value of Rs 3,350 crore, as part of its deleveraging strategy with planned asset monetisation. The under-construction Gopalpur Port in Odisha was acquired in...
MUMBAI: The rupee recovered from all-time low level and appreciated 33 paise to close at 83.28 (provisional) against the US dollar on Tuesday on decline in the US dollar and positive Asian currencies. Forex traders said weak domestic markets and surge in crude oil prices capped sharp gains for...