Business
CPSE Capex Down 8 Per Cent In April-October
NEW DELHI: Despite an improvement in capex by the central public sector enterprises (CPSEs), aggregate capex by public sector entities including NHAI and the Railways declined 8% on year in April-October of the current financial year. The slower pace of investment by railways and the National Highways Authority of...
India Gearing Up For Any Change In US Policy, Says CEA V Anantha Nageswaran
NEW DELHI: India is “better prepared” this time around for Donald Trump’s return to the White House, chief economic adviser (CEA) V Anantha Nageswaran said on Wednesday, cautioning against any “kneejerk reaction” to the current bout of stock market volatility. The CEA was in conversation with economist Prachi Mishra...
First American Turkey Shipment Leaves For Indian Market
WASHINGTON: The first shipment of American Turkey products for India left on Tuesday, marking a new phase in the bilateral trade relations between the two countries. The shipment comes over a year after India agreed to the American request to reduce high tariffs on US turkey products. US Senator...
SBI, HDFC Bank, ICICI Bank Remain Domestic Systemically Important Banks In 2024: RBI
MUMBAI: State Bank of India, HDFC Bank and ICICI Bank have again been named as Domestic Systemically Important Banks (D-SIBs) by the Reserve Bank of India. The Reserve Bank on Wednesday came out with the list of D-SIBs. Inclusion in the list requires the lenders to maintain higher Common...
Musk’s Starlink A Wolf In Sheep’s Clothing: Thinktank
NEW DELHI: Amid talk of Elon Musk’s Starlink seeking to offer satellite broadband internet service in India, think tank Kutniti Foundation has highlighted the US giant’s deep ties with US intelligence and military agencies that could impede national interests. Calling Starlink “a wolf in sheep’s clothing”, the foundation said...
Municipal Corporations To Boost Revenue Through Property Tax Reforms And Efficient Collection Mechanisms: RBI Report
MUMBAI: Municipal corporations need to enhance their sources of revenue through reforms in property tax, rationalisation of user charges, and better collection mechanisms, an RBI report has suggested. The elasticity of property tax revenues, the predominant source of tax revenue, can be improved through adopting property tax formulae which...
Euron Launches Affordable, Accessible EdTech Platform For All
BENGALURU: Euron, an innovative EdTech platform launched by Bengaluru-based entrepreneur Sudhanshu Kumar, is set to transform tech education by offering a comprehensive, accessible, and affordable solution for upskilling. Euron presents a one-stop resource for learning across key technology fields such as Python, Generative AI, and Data Science, making it...
NFRA Board Proposes New Audit Regime In India From April 2026
NEW DELHI: India could have a new accounting regime starting April 2026, as the National Financial Reporting Authority (NFRA) board has decided to suggest to the government to revise all the extant standards on auditing (SA)–including the SA600 for which it had issued draft norms– and the quality management...
90 Per Cent Of India-Russia Trade In Local Currency Now
NEW DELHI: Around 90% of trade between India and Russia is now being conducted using local or alternate currencies while the remaining still happens in other freely convertible ones, Russian Deputy Prime Minister Denis Manturov said Tuesday. “Share of local and alternative currencies keeps growing in bilateral trade. It...
October Retail Inflation Rises To 14-Month High Of 6.2%; IIP Picked Up In September
NEW DELHI: Retail inflation galloped to a 14-month high of 6.2 per cent in October, spurred by a spike in food prices, thus breaching the upper threshold of the Reserve Bank of India’s (RBI) target range. This sharp increase apparently extinguishes any remaining hopes of a policy rate cut...
PSBs Register Strong Business Growth Of 11% In H1 FY25, Says FinMin
NEW DELHI: The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At...
COP29 Climate Agreement A Boost For India’s Carbon Market Ambitions
BAKU, AZERBAIJAN: India’s plans to set up a carbon market received a boost at the 29th Conference of the Parties (COP29) in Baku, Azerbaijan, after the United Nations Framework Convention on Climate Change (UNFCCC) ratified key rules for a global carbon trading mechanism at this UN-sponsored climate event, officials...
SEBI Extends Deadline For Comments On Proposed Specified Digital Platform
NEW DELHI: Markets regulator Sebi on Tuesday extended the deadline for public comments till November 26 on the proposal concerning requirements for recognition as specified digital platforms (SDPs). Earlier, the comments from the public were sought till November 12. “Based on the representations received by Sebi from some of...
Sitharaman To Meet State FMs For Pre-Budget, GST Council Meet On December 21-22
NEW DELHI: Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said. The meeting assumes significance as states finance ministers would present their recommendations for 2025-26 Budget to be unveiled on February...
Majority Of Indian Businesses Invest In AI But Only 39 Per Cent Ready To Fight Ransomware Attacks: Report
NEW DELHI: Spotlighting a critical vulnerability in the country’s cybersecurity landscape, a recent report has said while Indian businesses are actively looking to capitalise on AI and investments are rising, only 39 per cent of them are prepared to survive a prolonged ransomware attack. Cybersecurity firm Sophos on Tuesday...
Coca-Cola India FY24 Profit Falls 42 Per Cent To Rs 420.29 Crore Revenue Rises 4 Per Cent To Rs 4,713.38 Crore
NEW DELHI: Beverages major Coca-Cola India’s consolidated profit fell 41.82 per cent to Rs 420.29 crore in FY24 while its revenue rose 4.24 per cent to Rs 4,713.38 crore, according to the company’s filing to RoC (Registrar of Companies). Its total income, which also includes other income, was up...
NSE Inks Pact With Zomato To Empower Delivery Partners With Financial Literacy
NEW DELHI: The National Stock Exchange of India (NSE) on Tuesday said it has inked a pact with online food delivery platform Zomato to promote financial literacy and investor awareness programmes among the gig economy workers. This partnership aims to launch an extensive financial literacy and investor awareness drive,...
Government Will Maintain Checks On FDI In ‘National Interest’: FM
NEW DELHI: Amid expectations of easing curbs on investment from China, finance minister Nirmala Sitharaman on Wednesday said government will maintain checks on FDI in the “national interest,” given the sensitivity in the region. “We want business, we want investments, but we also need some safeguards because India is...
