Indian economy yet to revive from effects of Covid-19 pandemic: CPI(M)
NEW DELHI: Ahead of the Union Budget, the CPI(M) has alleged the Indian economy is yet to revive from the blow it was dealt with during the Covid pandemic and blamed the government for the way it was handled. The party demanded that taxation and public expenditure be used to tilt distribution in the favour […]
Serum Institute of India stopped Covishield production in December 2021: Adar Poonawalla
PUNE: Chief Executive Officer of Serum Institute of India (SII), Adar Poonawalla, on Thursday said the vaccine manufacturer stopped the production of the Covishield vaccine starting December 2021, and of the total stock available at that time, around 100 million doses had already got expired. Speaking to reporters on the sidelines of the annual general […]
India’s support to poor during Covid-19 remarkable, says World Bank president
WASHINGTON: India’s support to the poor and needy during the COVID-19 pandemic crisis is remarkable, and other nations should adopt the Indian move of targeted cash transfer instead of broad subsidies, World Bank President David Malpass said on Wednesday. COVID-19 marked the end of a phase of global progress in poverty reduction. During the three […]
About 393 infrastructure projects show cost overruns of Rs 4.65 trillion
NEW DELHI: As many as 393 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.65 lakh crore, as per a report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out […]
Aurobindo Pharma net profit dips 22% to Rs 604 crore in December quarter
NEW DELHI: Aurobindo Pharma on Wednesday said its consolidated net profit declined by 22.3 per cent to Rs 604.29 crore for the third quarter ended December 31, 2021, hit by high input and freight costs. The Hyderabad-based drug maker had reported a consolidated net profit of Rs 777.3 crore in the same period of previous […]
Textile sector exports increase by 41% in April- December 2021
NEW DELHI: Textile sector has continuously maintained trade surplus with exports manifold higher than imports. In FY 2020-21 there was a deceleration in textile exports due to pandemic disrupting the supply chain and demand. However, signs of recovery are visible in 2021-22. During April-December, 2021 the total Textiles & Apparel including Handicrafts exports was US$ […]
India’s exports up 33 per cent to $7.63 billion during January 1-7 period
NEW DELHI: India’s exports grew 33.16 per cent to USD 7.63 billion during January 1-7 period on account of healthy performance by various sectors, including engineering, petroleum and gems and jewellery, according to preliminary data from the commerce ministry. Exports stood at USD 5.73 billion during the same period last year. During the first week […]
Bihar has made extensive use of technology to combat pandemic: Jibesh Kumar
NEW DELHI: The COVID-19 pandemic was one of the worst times in many decades, but one silver lining is that the COVID-19 crisis pushed companies and governments over the technology tipping point—and forever changed business. It has brought about 5 years of change in digitization in just over a year. During the COVID-19 pandemic, technology […]
Zydus Cadila posts consolidated revenues of Rs. 3785 crore in Q2
NEW DELHI: For the second quarter ended September 30, 2021, Zydus Cadila posted consolidated revenue of Rs. 3785 crore, up 3% on a y-o-y basis. Earnings before Interest, Depreciation and Tax (EBIDTA) for the quarter was Rs. 861 crore, up by 6% y-o-y. The EBIDTA margin for the quarter was 22.7%, an improvement of 50 […]
Entire world looking up to India in view of its COVID-19 vaccination drive success: Narendra Modi
NEW DELHI: The entire world is looking up to India in the backdrop of the success of its COVID-19 vaccination drive, Prime Minister Narendra Modi said on Saturday as he lauded vaccine manufacturers for playing a “big role” in the success story of the country. Modi made the remarks during his meeting with Indian COVID-19 […]
India Inc’s revenue likely grew 18-20% on-year to Rs 8.2 trillion in 2nd quarter
NEW DELHI: Higher commodity prices and continued revival in demand for consumer discretionary products likely lifted corporate revenue 18-20 per cent on-year to Rs 8.2 lakh crore in the second quarter of this fiscal, indicates a CRISIL Research study of 300 companies (excluding from the financial services and oil sectors) that account for 55-60 per […]
India to allow foreign tourists travelling by chartered flights from October 15, rest from November 15
NEW DELHI: India has decided to allow foreign tourists into the country, beginning with granting tourist visas to those travelling by chartered flights from October 15 and those by regular planes from November 15. The Union Home Ministry on Thursday announced that with this, the restrictions placed on visa and international travel since March 2020 […]
Pharma industry to surpass $60 billion by FY24 from $45 billion in FY21: Report
NEW DELHI: The Covid-19 pandemic push will lead to an 11 per cent annual growth for the pharma sector over the next two years and help it surpass USD 60 billion from around USD 45 billion in FY21, according to a report. The domestic pharma industry globally ranks third in terms of volume and 13th […]
RBI keeps policy rate unchanged for 7th time in a row; repo retained at 4 per cent
NEW DELHI: The Reserve Bank of India (RBI) on Friday decided to keep benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy is yet to recover from the impact of second COVID-19 wave. This is the seventh time in a row that the Monetary Policy Committee (MPC) headed […]
India extends suspension on international passenger flights till August 31
NEW DELHI: The coronavirus-induced suspension of scheduled international passenger flights has been extended till August 31, aviation regulator DGCA said on Friday. “However, international scheduled flights may be allowed on selected routes by the competent authority on a case-to-case basis,” the Directorate General of Civil Aviation added. Scheduled international passenger services have been suspended in […]
In boost for Indian IT, US to conduct rare 2nd lottery for H-1B applicants
NEW DELHI: The US Citizenship and Immigration Services (USCIS) said that a decision was taken after determining that the computerised draw of lots for H-1B visas conducted early this year did not give them enough number of Congressional mandated H-1B visas. The H-1B visa, most sought-after among Indian IT professionals, is a non-immigrant visa that allows […]