Supreme Court-appointed panel on farm laws submits report
NEW DELHI: The Supreme Court-appointed committee to study the three new controversial agricultural laws has submitted its report to the apex court on March 19 in a sealed cover, one of its members said on Wednesday. Farmers have been protesting seeking repeal of the three contentious farm laws on the borders of New Delhi for […]
Sensex tanks 627 points; Nifty ends below 14,700
MUMBAI: Equity benchmark Sensex tanked 627 points on Wednesday, dragged by losses in index majors HDFC twins, Reliance Industries, and Infosys amid a negative trend in global markets. The 30-share BSE index ended 627.43 points or 1.25 per cent lower at 49,509.15, and the broader NSE Nifty slumped 154.40 points or 1.04 per cent to […]
Monetary Policy Committee to meet 6 times during 2021-22
NEW DELHI: The Monetary Policy Committee (MPC), which decides on key interest rates, will meet six times during the next financial year, the Reserve Bank of India (RBI) said on Wednesday. The first meeting of the six-member MPC to decide on the first bi-monthly monetary policy statement for 2021-22 will be held from April 5 […]
Modi cabinet approves production linked incentive scheme for food processing industry
NEW DELHI: The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Central Sector Scheme – “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” to support creation of global food manufacturing champions commensurate with India’s natural resource endowment and support Indian brands of food products in the international markets with an […]
Suez Canal reopens after stuck cargo ship is freed
SUEZ, (EGYPT): Salvage teams on Monday finally freed the colossal container ship stuck for nearly a week in the Suez Canal, ending a crisis that had clogged one of the world’s most vital waterways and halted billions of dollars a day in maritime commerce. A flotilla of tugboats, helped by the tides, wrenched the bulbous […]
India, South Korea agree on joint production, export of military hardware
NEW DELHI: In a significant move, India and South Korea have agreed to go for joint production and export of military hardware, enhance intelligence sharing and boost cooperation in cyber and space domains as part overall expansion of defence and security ties, official sources said on Sunday. The decisions were taken during delegation-level talks between […]
India a potential market for Panamera sedan: Porsche
NEW DELHI: Luxury sports car maker Porsche has said India is a potential market for its recently-launched new-generation Panamera sedan even as its focus will remain on all models across segments. Porsche India also said the launch of the new-format showrooms in Delhi and Mumbai in a short span of three months exhibits investors’ confidence […]
Ascendas India to buy 1.65 mn sq ft at Bengaluru IT Park for Rs 1,441 crore
NEW DELHI: Ascendas India Trust (a-iTrust) will acquire 1.65 million sq ft area at an IT park in Bengaluru for an estimated deal value of Rs 1,441 crore, according to a statement. Ascendas Property Fund Trustee Pte Ltd, the Trustee-Manager ofa-iTrust, has entered into a forward purchase agreement with Gardencity Realty Pvt Ltd to acquire […]
Over 4 crore rural homes provided with tap water connections in India
NEW DELHI: Announced by Prime Minister Narendra Modi on 15th August, 2019, with the aim to provide tap water supply to every rural home by 2024, Jal Jeevan Mission has reached a new milestone of providing over 4 Crore rural households with tap water supply. Now, 7.24 Crore (38%) i.e. more than 1/3rd of rural […]
Ship ‘partially refloated,’ but still stuck in Suez Canal
By ISABEL DEBRE and SAMY MAGDY SUEZ, EGYPT:Engineers on Monday “partially refloated” the colossal container ship that continues to block traffic through the Suez Canal, authorities said, without providing further details about when the vessel would be set free. Satellite data from MarineTraffic.com showed that the ship’s bulbous bow, once lodged deep in the canal’s […]
Automaker Skoda unlikely to drive in electric vehicle in India anytime soon
NEW DELHI: Czech automaker Skoda is not likely to drive in its electric car in India anytime soon as it thinks the market is not ready for such vehicles due to high acquisition cost as compared with internal combustion cars, a top company official has said. The automaker, which sells models like Rapid and Superb […]
Kirloskar Brothers to be debt-free company, focus on profitable growth
NEW DELHI: Leading pump makers Kirloskar Brothers Ltd (KBL) is close to be a debt-free company and will continue its growth journey into domestic and international markets, said a top company official. After being debt-free, the company will focus on cash flow and will not chase topline (revenue) numbers at the cost of profitability, said […]
Cairn to seize overseas Indian assets to enforce $1.2-billion arbitration award
NEW DELHI: UK’s Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover USD 1.2 billion ordered by an international arbitration […]
Seven of top 10 companies lose over Rs 1 trillion in market capitalisation
NEW DELHI: Seven of the 10 most valued domestic companies witnessed a combined erosion of Rs 1,07,566.64 crore from their market valuation last week, with Reliance Industries accounting for around half of the losses. Last week, the 30-share BSE benchmark Sensex declined 849.74 points or 1.70 per cent. Only Tata Consultancy Services (TCS), Hindustan Unilever […]
My unlisted portfolio has higher returns than listed firms: Rakesh Jhunjhunwala
NEW DELHI: ‘Big Bull’ Rakesh Jhunjunwala on Saturday said he has investments in private companies stretching to over a decade, and the returns he has made on his unlisted portfolio are higher than the one on listed firms. Jhunjunwala, who is reported to be the largest individual investor in the domestic markets, also said the […]
India’s goods exports to stand at $290 billion in FY21, says Piyush Goyal
NEW DELHI: India’s goods exports will stand at USD 290 billion for the financial year ending March, 7 per cent short of the shipments in the previous fiscal, Union Minister Piyush Goyal said on Friday. However, the minister said this was “great” considering the country has bounced back so quickly in a challenging year. India’s […]