Pallonji Mistry dies at 93
NEW DELHI: Shapoorji Pallonji Group’s head Pallonji Mistry died at his residence here, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93. He died mid-sleep at his south Mumbai residence on the intervening night of Monday and Tuesday, the […]
India’s gig workforce seen at 23.5 million by FY30, social security needed: NITI
NEW DELHI: India’s gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled ‘India’s Booming Gig and […]
Will continue to look for acquisition opportunities: Tata Consumer chairman
NEW DELHI: Tata Consumer Products Ltd will continue to look for the right acquisition opportunities in different categories to fuel its growth, the company’s chairman N Chandrasekaran said on Monday. Responding to shareholders’ queries in the annual general meeting of the company, Chandrasekaran, who is also the chairman of Tata Sons — the holding firm […]
Indian assistance not charitable donations in Sr Lanka crisis: Wickremesinghe
COLOMBO: Sri Lanka’s Prime Minister Ranil Wickremesinghe on Wednesday told Parliament that financial assistance provided by India are not “charitable donations” and the island nation facing severe economic crisis must have a plan to repay these loans. Sri Lanka has been facing the worst economic crisis since independence in 1948 which has prompted an acute […]
India needs $223 billion to meet 2030 renewable capacity goals: Report
NEW DELHI: India will need USD 223 billion of investment to meet its goal of wind and solar capacity installations by 2030, according to a new report by research company BloombergNEF (BNEF). The government has set a target of increasing non-fossil power capacity to 500 GW by 2030. It wants non-fossil fuel power sources to […]
Narendra Modi to visit Germany, UAE from June 26-28 to attend G7 Summit: MEA
NEW DELHI: Prime Minister Narendra Modi will visit the Alpine castle of Schloss Elmau in southern Germany on June 26 and 27 to attend the annual summit of G7 that is expected to delve into pressing global challenges including the Ukraine crisis and the situation in the Indo-Pacific. From Germany, Modi will travel to the […]
Elon Musk’s $44 billion Twitter deal gets board endorsement
NEW DELHI: Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain […]
Levi’s largest store opened in a mall space in India
MUMBAI: Denim giant Levi’s sadi that it has inaugurated its new store at Oberoi Mall in Mumbai on June 10, 2022. The new store is the largest store opened in a mall space in India. The store design follows the new fleet of the NextGen store format that enables consumers to immerse themselves in brand […]
GST Council to meet on June 28-29 in Srinagar
NEW DELHI: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 28 and 29 in Srinagar. “The 47th meeting of the GST Council will be held on June 28-29, 2022 (Tuesday & Wednesday) in Srinagar,” the finance minister’s office tweeted. This is the second time that the GST Council meeting is […]
RBI lifts restrictions on Mastercard
NEW DELHI: The Reserve Bank of India (RBI) on Thursday lifted restrictions on Mastercard that it had imposed last year for failing to comply with local data storage norms. The central bank had barred the US-based payment gateway from onboarding new customers until it complies with Storage of Payment System Data norms. “In view of […]
Goal of USD 5 trillion GDP appears to be case of ‘shifting goalposts’: P Chidambaram
NEW DELHI: With Chief Economic Advisor V Anantha Nageswaran citing the IMF forecast that the Indian economy would cross USD 5 trillion by 2026-27, senior Congress leader P Chidambaram on Sunday said the goal of a USD 5 trillion GDP appears to be a case of “shifting goalposts” as the original target year was 2023-24. […]
Number of income tax returns have increased in FY22: CBDT chairman
NEW DELHI: The number of income tax returns has increased in FY22 over the previous fiscal, Central Board of Direct Taxes (CBDT) Chairman Sangeeta Singh said on Saturday. Talking to PTI, Singh said the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear […]
RBI hikes interest rate by 50 basis points to tame inflation
NEW DELHI: Reserve Bank of India (RBI) on Wednesday raised the interest rate by 50 basis points to a two-year high of 4.9% as it doubled down to tame inflation that has surged in the last couple of months. The rate hike comes on the back of a 40 bps increase effected by RBI at […]
CCEA approves Minimum Support Prices for Kharif Crops for Marketing Season 2022-23
NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Shri Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2022-23. Government has increased the MSP of Kharif Crops for Marketing Season 2022-23, to ensure remunerative prices to the growers […]
India, Vietnam ink MoU on logistics support as Rajnath Singh hold talks
NEW DELHI: India and Vietnam on Tuesday signed an MoU on mutual logistics support, the first such major agreement Hanoi has inked with any country towards simplifying procedures for mutually-beneficial logistic support as Defence Minister Rajnath Singh held wide-ranging discussions with General Phan Van Giang on “effective and practical initiatives” to further bolster defence engagements. […]
Up to government to decide on supply-side measures to contain inflation: RBI Governor
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said the government is “mindful” of the current inflation situation, and it is up to the Centre to take further supply-side measures to contain the price rise situation. “I am sure the government is mindful of the current inflation situation and it is […]