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NEW DELHI: About 50 per cent of the Indian businesses surveyed expressed their commitment to achieving the net-zero target, reflecting their desire to address climate change issues and transit to a low-carbon economy, said a PwC report on Tuesday. Of these, about 48 per cent committed to achieving net-zero...
COLOMBO: Six months after it was announced by the prime ministers of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation’s debt restructuring process. In July 2023, Prime Minister Narendra Modi and Sri...
NEW DELHI: Tackling the deepfake issue will require regulations and close industry collaboration as there is no silver bullet for it, Nasscom Chairperson Rajesh Nambiar has said, terming it a “real concern”, especially in a year when several countries are going for polls. In an interview with PTI, the...
MUMBAI: Gaining from high credit off-take and lower credit costs, banks are likely to post 16.7 per cent year-on-year (Y-o-Y) growth in net profit during the third quarter of the financial year ended December 2023 (Q3 FY24). However, sequentially, net profit may shrink by 2.4 per cent over the...
NEW DELHI: As India and the four-member European Union Free Trade Association (EFTA) enter the final rounds of negotiations on a free trade agreement (FTA), the decision of Switzerland to bring down its import tariffs on industrial goods to zero has limited the gains that can be derived from...
NEW DELHI: Rationalising the capital gains tax structure, stability in tax rates, and liberalising exemption from the angel tax provisions for strategic foreign direct investment (FDI) are among the key demands of India Inc from the upcoming Interim Budget. According to a document titled ‘EY’s point of view on...
NEW DELHI: Government-run Employees State Insurance Corporation (ESIC) has been consistently leading in providing social-security benefits by formalising the workforce in the organised sector. This has happened with high growth in coverage in recent years as compared to the Employees Provident Fund Organisation (EPFO), shows the government data. ESIC...
NEW DELHI: The National Financial Reporting Authority (NFRA) is planning to annually undertake inspections of major audit firms, including the Big Four, to gauge their compliance, seeking to put in place an oversight mechanism of this kind for the first time, a person aware of the details told ET....
NEW DELHI: Aviation safety regulator DGCA on Monday came out with revised Flight Duty Time Limitations (FDTL) norms for flight crew, entailing increased weekly rest periods to 48 hours, extension of night hours, and limiting the number of night landings to only two as against six earlier. These regulations...
NEW DELHI: State-controlled Oil and Natural Gas Corporation (ONGC) has started oil production from its much-delayed flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, helping reverse years of decline in output, the company said. ONGC has started producing from the Cluster-2 project in KG-DWN-98/2 block and...
NEW DELHI: German luxury carmaker Mercedes-Benz will invest Rs 200 crore in India this year on new products, manufacturing operations and digitisation, to strengthen its position after posting record sales of 17,408 units in 2023, a top company official said on Monday. Mercedes-Benz India will have more than 12...
NEW DELHI: The repeated argument that India witnessed a K-shaped recovery post-pandemic is “flawed, prejudiced, and ill-concocted”, said a research report by SBI on Monday. According to the report, post-pandemic, households are reconfiguring their savings towards physical assets, including real estate, it said. “The oft-repeated conundrum debating a K-shaped...
GREATER NOIDA: India’s agriculture exports, which stood at over USD 50 billion at present, are expected to double by 2030 and reach USD 100 billion, Commerce Secretary Sunil Barthwal said on Monday. He said that the country is targeting USD 2 trillion worth of exports of goods and services...
NEW DELHI: India Inc’s earnings for the December 2023 quarter are expected to show strong growth on the back of good numbers from auto manufacturers, banks, capital goods makers, cement producers and residential real estate developers. In aggregate, companies are likely to report a high single-digit increase in profits...
NEW DELHI: Defence Minister Rajnath Singh will leave on Monday for a two-day visit to London, underscoring India’s growing defence relations with the United Kingdom (UK). He will be accompanied by a high-level Ministry of Defence (MoD) delegation, comprising senior officials from the Defence R&D Organisation (DRDO), service headquarters...
NEW DELHI: The government’s dividend collection from non-financial central public sector enterprises (CPSEs) and other investments in this financial year could amount to about ₹55,000 crore, more than a quarter higher than the budgetary target of ₹43,000 crore, said a senior official. However, the Centre could reduce its combined...
MUMBAI: Borrowing by banks climbed last year, on average by as much as two-thirds in aggregate, as the central bank’s liquidity mop-up to tame consumer prices coincided with higher demand for credit and trailing deposit growth. HDFC Bank’s mid-July merger with mortgage-lending pioneer HDFC also caused borrowings to swell...
NEW DELHI: The negotiations on India-Oman free trade agreement that were racing towards concussion may drag a bit longer as Indian petrochemical producers have opposed any deep duty cuts on polypropylene and polyethylene that might be offered in the pact. Both polypropylene and polyethylene, key raw materials for plastics,...