Business
India, UK Seek To Wrap Up Trade Negotiations Before Busy Election Year
India and the UK have begun crunch-time talks to secure a landmark free-trade deal, as leaders on both sides seek to resolve outstanding issues before they face election battles next year. A UK team — including Amanda Brooks, director general for trade negotiations, and Douglas McNeill, chief economic adviser...
Solar Power Potential 75,000 GW By 2050 Possible With Long-Duration Storage: Report
NEW DELHI: Solar power generation capacity can go up to 75,000 gigawatts by 2050 globally with long-duration storage capacity, a report by the International Solar Association (ISA) and LDES Council, said. The report released on Tuesday by ISA and the Long Duration Energy Storage (LDES) Council unveils a bold...
Stock Markets Hit New Record Highs
MUMBAI: Benchmark stock indices Sensex and Nifty settled at new peaks on Tuesday, rallying for the sixth straight session amid massive buying in power and utility sector shares. The 30-share BSE Sensex jumped 431.02 points, or 0.63 per cent, to close at a new record high of 69,296.14. The...
Online Gaming Firms Urge Govt To Set Clear Code Of Conduct For Sector
NEW DELHI: Nine months after the government notified new gaming rules, companies such as Dream Sports, Games 24×7, as well as industry associations, are seeking clarity on a code of conduct for the sector. The manner in which the notified rules will be implemented, a framework for responsible gaming...
Quicker Action On Assets Of Personal Guarantors Soon
NEW DELHI: The government has firmed up a plan to remove the bar on personal guarantors to transfer or dispose of their assets under the insolvency resolution process, according to an official source. This is despite the Supreme Court upholding the constitutionality of the moratorium. The move by the...
IT Sector Growth To Inch Up To 6 Per Cent In FY25, Hiring To Be Moderate For 3 Quarters: ICRA
NEW DELHI: Domestic rating agency Icra on Monday said the Indian IT sector’s revenue growth will inch up to over 6 per cent in 2024-25 from 3-5 per cent estimated for the ongoing financial year. The slower growth will have an impact on the hiring plans, the agency said,...
BSNL To Sharpen Focus On Enterprise Business
NEW DELHI: State-owned BSNL is looking to deploy at least 4% of its total staff strength of around 54,000 on enhancing enterprise services, company sources said. Currently only 1.8% of the staff are deployed for the purpose. This is because BSNL has seen a fall in revenue from the...
Corporate Bond Market Set To Double By FY2030 At Rs 100 Trillion: Report
MUMBAI: India’s corporate bond market is expected to more than double from Rs 43 trillion in Financial Year 2022-23 (FY23) to Rs 100-120 trillion by FY 2030, said a report by CRISIL Ratings on Monday. The market is expected to expand at a compound annual growth rate (CAGR) of...
Unemployment Rate Falls In November As Farm Sector Boosts Rural Jobs
NEW DELHI: India’s overall unemployment rate in November fell to 9.16% from a 29-month high of 10.05% in October, on account of a decline in unemployment in rural areas amidst the rabi-sowing season, according to data from the Centre for Monitoring Indian Economy (CMIE). The rural unemployment rate eased...
ReNew Inks Initial Pact With Asian Development Bank For USD 5.3 Billion Funding
Renewable energy firm ReNew Energy Global Plc has inked an initial pact with the Asian Development Bank (ADB) for a funding of USD 5.3 billion.”The MoU was signed at COP28, Dubai by ReNew’s Founder, Chairman and CEO, Sumant Sinha and Suzanne Gaboury, Director General, Private Sector Operations Department, ADB,”...
No Relaxation In Borrowing Limits For Kerala, Other States: Finance Minister
Finance Minister Nirmala Sitharaman on Monday ruled out any relaxation to the existing terms for the borrowing capacity of state governments, including Kerala for 2023-24. Kerala has requested the Centre to allow an additional borrowing equivalent to 1% of Gross State Domestic Product (GSDP) over and above the borrowing...
LNG Consumption, Imports Seen Rising As Prices Ease
India’s consumption of Liquefied Natural Gas (LNG) is expected to rise further in the coming months on the back of growing demand from the fertiliser and power industries, analysts say. Anticipated lower spot LNG prices will further add to this growth. “Our current forecast for December, January, and February...
Proposed Auditing Standards For LLPs: CA Institute Seeks Public Comments By January 6
After taking steps towards framing accounting standards for Limited Liability Partnerships (LLPs), the CA Institute has now released an exposure draft for the proposed auditing standards on LLPs. The CA Institute’s Auditing and Assurance Standards Board (AASB), which has issued the exposure draft, has invited public comments by January...
Adani Green Raises $1.36 Billion In Construction Finance From 8 Global Banks
MUMBAI: Adani Green Energy has raised $1.36 billion from eight international banks as construction facility, taking its total funding pool to $3 billion since the initial project financing started in March 2021. The company said the funds raised would be used in developing the 17GW renewable energy park at...
MCap Of Nine Of Top-10 Most Valued Firms Up Rs 1.30 Lakh Crore; Airtel, TCS Biggest Gainers
NEW DELHI: The combined market valuation of nine of the top-10 most valued firms climbed Rs 1,30,391.96 crore last week, with Bharti Airtel and Tata Consultancy Services (TCS) emerging as the biggest gainers, amid an overall optimistic trend in equities. Last week, the BSE benchmark jumped 1,511.15 points or...
Government Receives Rs 1 Lakh Crore Foreign Direct Investment Proposals
NEW DELHI: The Government has received foreign direct investment (FDI) proposals worth about Rs one lakh crore since April 2020 from countries sharing land border with India and half of those applications have been cleared so far, a top official said. The remaining are either pending or withdrawn or...
Coal India To Ramp Up Coal Transport Capacity With New Railway Lines By 2025
New Delhi: State-owned Coal India Limited (CIL) is set to boost its coal transportation network by completing several railway projects by 2025, aiming to increase its coal evacuation capacity in response to the country’s energy demand. Among the projects, the Tori-Shivpur New BG Double line, running 43.70 km, has...
COP28 Climate Summit 2023: Exxon, Aramco Lead Emissions Cut Pledge
Exxon Mobil Corp. and Saudi Arabia’s Aramco, the world’s largest private and state-sector oil companies, led a pledge by 50 oil and gas producers at the COP28 climate summit to cut emissions from their own operations. The deal is controversial given none of the companies are agreeing to reduce...
