Business
Retail Leasing In India Increased By 46% YoY In January-September To 4.73 Million Sq ft: Report
NEW DELHI: CBRE South Asia, the real estate consulting firm, recently announced the findings of its latest report, ‘India Market Monitor Q3 2023’. The report highlighted the growth trends and dynamics across the real estate sector in India. In terms of cities, Bangalore, Delhi-NCR, and Pune collectively accounted for...
JSW Steel Q2 Net Profit At Rs 2,773 Crore On Lower Cost, Better Realisation
MUMBAI: Lower costs and better realisation helped the Sajjan Jindal-led JSW Steel post a net profit of Rs 2,773 crore in the September quarter, against a net loss of Rs 915 crore registered in the same period last year. Income increased 7 per cent to Rs 44,821 crore (Rs...
Looking To Cut Debt Burden: FM
NEW DELHI: Finance minister Nirmala Sitharaman said on Friday that the government is looking at reducing its debt burden further and has already resorted to prudent spending by resisting the temptation of fiscal profligacy, especially after the pandemic, to avoid burdening future generations. In her inaugural speech at the...
Interest Rates Will Stay High For Now: RBI Governor
NEW DELHI: Reserve Bank of India (RBI) governor Shaktikanta Das said interest rates will stay high, without offering any indication of when softening could start. Monetary policy must remain “actively disinflationary” to ensure the decline in retail inflation in recent months continues smoothly, Das said. “Interest rates will remain...
RBI Cautious On Future Price Shocks, May Hold Repo Steady
KOLKATA: The Reserve Bank of India (RBI) is likely to hold repo rates steady for a long period as easing of core inflation and high real interest rates provide comfort, but frequent volatility in food prices – albeit transient – requires monetary policy makers to be vigilant, according to...
India Pushes Back Against Russia’s Demands To Pay For Oil Imports In Yuan
India is rejecting pressure from Russian oil suppliers to pay for crude imports in the Chinese currency as tensions between New Delhi and Beijing continue to simmer. Some Russian oil suppliers are demanding payment in yuan, according to a senior Indian official directly involved in the negotiations and another...
India Says Procurement Helped In Food Security
NEW DELHI: Slamming the US, the European Union, Japan, Australia and Brazil, which are seeking to limit spending on procurement of rice and wheat by agencies such as FCI, India has asked them to shed their “arrogance” and agree to reforming the global trade regime, as its public procurement...
Gaganyaan’s TV-D1 flight launches successfully
The lift-off of the Gaganyaan mission’s unmanned test flight, TV-D1, successfully took place today after initial hiccups. Test Vehicle D1 mission was launched for a lift-off from the first launch pad from Andhra Pradesh’s Sriharikota at 10:00 am. The brief test flight sequence launched the crew escape system and...
Russia Makes Up 40% Of Indian Oil Imports, Dents OPEC’s Share
The share of Russian oil in India’s overall imports rose to about two-fifths in the first half of fiscal 2023/24, consolidating Moscow’s position as the top supplier as refiners curbed purchase from the Middle East, industry data showed. India, the world’s third largest oil importer and consumer, has emerged...
Govt Initiates Talks On Green Hydrogen Exports To EU Nations
NEW DELHI: The Centre has initiated discussions for possible export of green hydrogen to France, Italy and Germany. The government is sending the proposals through the Ministry of External Affairs. India is targeting other European Union nations such as Netherlands, Austria and Sweden for its green hydrogen exports. Exports...
Elon Musk’s Wealth Shrinks By $16 Billion After Tesla Results
Elon Musk experienced a significant drop in his fortune, losing $16.1 billion on Thursday, following Tesla Inc’s disappointing third-quarter earnings report, which negatively impacted the company’s shares. Despite being the world’s richest person with a net worth of $209.6 billion, Musk’s wealth declined due to Tesla’s shares plummeting by...
Red Opening Marks A Challenging Start For Indian Stock Market Amidst Global Headwinds
MUMBAI: The stock market faced a daunting challenge as it opened in the red on Friday, failing to sustain the initial optimism and slipping into negative territory. The benchmark Sensex was down by 182.36 points, opening at 65,446.88, while the Nifty dropped 59.60 points, initiating the day at 19,566.80....
Google Announces Plan to Manufacture Pixel Phones in India, Starting With Pixel 8
Google on Thursday announced that it plans to start manufacturing Pixel smartphones in India. The search giant will produce the Pixel 8 in India and the first units are expected to be available in 2024. The Pixel 8 was launched by the company in India and global markets earlier this month,...
No Caps Or Country-Specific Curbs Under New Laptop Import Policy
NEW DELHI: The government on Thursday sought to allay the concerns over the decision to put imports of certain computer hardware in restricted category, with mandatory licensing, by coming up with a liberal authorisation process. In what would provide relief to the importers, which include the likes of Apple,...
Govt Eases Drawing Rights To Put Spending On Fast Track
NEW DELHI: Seeking to improve cash management, the finance ministry has allowed ministries and departments to fully leverage existing sanctions to fund central sector schemes (CSSs), before seeking fresh ones. Sanction orders will be released to new agencies under the Public Finance Management System (PFMS), a mandatory requirement to...
Centre Clicks Enter For Online Nod To IT Hardware Imports
NEW DELHI: India, on Thursday, launched a new online system of authorisation for import of laptops, tablets, and personal computers, aiming to monitor shipments of such hardware without hurting supply. The restriction-free system comes two months after the announcement of a licensing regime for these products. Director General of...
Strengthening US Dollar Is A Global Risk: RBI Paper
MUMBAI: The Reserve Bank of India’s (RBI’s) ‘State of the Economy’ report has flagged the US dollar’s continued strengthening as a global risk. This will further tighten financial conditions, according to the report, despite India adding more to its foreign exchange (forex) reserves than any other major country holding...
Number Of Women In Blue-Collar Jobs Increasing Across Manufacturing Sector
KOLKATA\CHENNAI\MUMBAI: “Lady candidates need not apply.” So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science...
