Gold import jumps to $6.3 billion in April due to surge in domestic demand
NEW DELHI: Gold import, which has a bearing on the country’s current account deficit (CAD), zoomed to USD 6.3 billion for the month of April due to a surge in domestic demand, according to the Commerce Ministry data. Silver imports during the month, however, dipped by 88.53 per cent to about USD 11.9 million. Gold […]
Cairn Energy sues Air India to enforce $1.2 billion arbitration award: Report
NEW DELHI: Cairn Energy has sued India’s flagship carrier Air India to enforce a $1.2 billion arbitration award that it won in a tax dispute against India, according to a US District Court filing reviewed by Reuters. The move ratchets up pressure on India’s government to pay the sum of $1.2 billion plus interest and […]
Dr Reddy’s rolls out Sputnik V Covid-19 vaccine in India at Rs 995 per dose
NEW DELHI: Dr. Reddy’s Laboratories has announced that the first consignment of imported doses of the Sputnik V vaccine that landed in India on 1st May, 2021, received regulatory clearance from the Central Drugs Laboratory, Kasauli, on 13th May, 2021. As part of a limited pilot, the soft launch of the vaccine has commenced and […]
Monsoon to make early arrival over Kerala
NEW DELHI: The southwest monsoon is likely to arrive over Kerala on May 31, a day earlier than its normal onset date, the India Meteorological Department (IMD) said on Friday. The normal onset date of monsoon over Kerala is June 1. “This year, the onset of the southwest monsoon over Kerala is likely to be […]
Forex reserves up by USD 1.444 billion to USD 589.465 billion
NEW DELHI: India’s foreign exchange reserves increased by USD 1.444 billion to USD 589.465 billion in the week ended May 7, 2021, RBI data showed. In the previous week ended April 30, 2021, the reserves had risen by USD 3.913 billion to USD 588.02 billion. The reserves had touched a lifetime high of USD 590.185 […]
L&T Construction gets ‘Large’ orders worth up to Rs 5,000 crore from Chennai Metro Rail Corporation Limited
NEW DELHI: The construction arm of L&T has secured large orders from a prestigious Client for its Heavy Civil Infrastructure business in India. Though the company has not revealed the exact value of the orders, the contracts falls under ‘large’ category which ranges between Rs 2,500 crore to Rs 5,000 crore. The Business has secured […]
Shriram Housing Finance Limited to get Rs. 500 crore
NEW DELHI: In a very strong reaffirmation of its belief in the affordable and mid segment housing, Shriram City Union Finance has invested Rs. 200 crore in its housing finance subsidiary, Shriram Housing Finance Limited (SHFL). The board of Shriram City Union Finance has also approved an investment of upto Rs. 500 Cr into SHFL […]
Reliance O2C, Indian Oil Corporation bag supplies in intense bidding for KG-D6 gas
NEW DELHI: As many as 14 users across sectors slugged it on a third party electronic platform for seven-and-half hours to secure natural gas supplies from the eastern offshore KG-D6 block before the oil-to-chemical (O2C) unit of Reliance Industries bagged most of the supplies, sources said. RIL and its partner BP of the UK, who […]
Wadia Group-owned GoAir rebrands as Go First after 15 years of flying
NEW DELHI: After being in the skies for 15 years, Wadia Group-owned GoAir has rebranded itself as ‘Go First’ as the airline focuses on ultra-low-cost business model amid the aviation industry grappling with pandemic headwinds. The announcement on Thursday also comes amid reports that the airline was preparing for an initial share sale to raise […]
Narendra Modi releases 8th installment worth over Rs 20,000 crore for PM-Kisan scheme
NEW DELHI:Prime Minister Narendra Modi on Friday released the eighth installment of over Rs 20,000 crore to more than 9.5 crore farmer beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on Friday via video-conferencing. Agriculture Minister Narendra Singh Tomar, who was present on the occasion, said West bengal has joined the scheme with […]
Bharat Biotech unit to make Pune plant functional for vaccine production by August
NEW DELHI: Biovet Pvt Ltd, an associate firm of Bharat Biotech, is confident of making a plant at Manjari in Pune “fully functional” for vaccine production by August- end, a senior administrative official has said. Hyderabad-based Bharat Biotech is the manufacturer of Covaxin, one of the two vaccines being used in the nationwide COVID-19 inoculation […]
Narendra Modi government will provide assistance to companies willing to manufacture Covid-19 vaccines
NEW DELHI: Amid a political war of words between the Narendra Modi government (Centre) and the Delhi government over the availability of sufficient vaccines to inoculate all adults in the national capital, the central government on Thursday said it will provide all possible assistance to all companies willing to manufacture the vaccine to ramp up […]
US Covid-19 guidance: Great day for America as fully vaccinated people do not need masks outside
By ZEKE MILLER and MICHAEL BALSAMO WASHINGTON:In a major step toward returning to pre-pandemic life, the Centers for Disease Control and Prevention eased mask-wearing guidance for fully vaccinated people on Thursday, allowing them to stop wearing masks outdoors in crowds and in most indoor settings. “Today is a great day for America,” President Joe Biden […]
Nirmala Sitharaman hands over possession to homebuyers through virtual meet
NEW DELHI: India’s Finance & Corporate Affairs Smt. Nirmala Sitharaman today handed over possession to homebuyers virtually as the Government of India’s Special Window for Affordable & Mid-Income Housing (SWAMIH) completed its first residential project. The residential project – Rivali Park, located in suburban Mumbai, was the first housing project in India to have received […]
Lupin Q4 net profit up 18% at Rs 460 crore; FY21 profit at Rs 1,216 crore
NEW DELHI: Drug maker Lupin on Thursday reported an 18 per cent increase in its consolidated net profit at Rs 460 crore for the fourth quarter ended March 31, 2021, driven by robust sales across domestic and international markets. The Mumbai-based company had reported a net profit of Rs 390 crore in the January-March quarter […]
India received $83 billion in remittances in 2020: World Bank report
NEW DELHI: India received over USD83 billion in remittances in 2020, a drop of just 0.2 per cent from the previous year, despite a pandemic that devastated the world economy, according to a World Bank report. China, which received USD59.5 billion in remittances in 2020 against USD68.3 billion the previous year, is a distant second […]