Day: September 27, 2022

Net direct tax mop up rises 23% to Rs 7.04 trillion so far in FY23: CBDT chief

NEW DELHI: The net direct tax collection has increased 23 per cent to Rs 7.04 lakh crore so far this fiscal, the income tax department said on Tuesday. Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said the income and corporate tax collections were at a record high of Rs 14.09 lakh crore in […]

Motovolt Mobility plans to invest Rs 200 crore next year for expansion

NEW DELHI: Electric two-wheeler maker Motovolt Mobility on Tuesday said it plans to invest Rs 200 crore next year on new products and to expand its manufacturing footprint and sales network. The company, which on Tuesday launched its electric bike URBN in two variants priced at Rs 49,999 and Rs 54,999, is looking to set […]

Chinese President appears in public for first time after returning from SCO summit

BEIJING: Chinese President Xi Jinping on Tuesday visited an exhibition of the Communist Party, appearing in public for the first time after his return from the SCO summit on September 16, which sparked rumours about his absence from the limelight ahead of next month’s key Congress of the ruling party. Xi on Tuesday visited an […]

LIC buys over 2% stake in Bharat Petroleum for nearly Rs 1,598 crore

NEW DELHI: LIC has acquired over a 2 per cent stake in state-owned refiner Bharat Petroleum Corporation Ltd (BPCL) for nearly Rs 1,598 crore since December last year. The state-owned life insurance behemoth in a regulatory filing on Tuesday said its shareholding in BPCL has increased from 15,25,08,269 to 19,61,15,164 equity shares, increasing its shareholding […]

63 moons to provide next-gen tech to Italian firm; eyes pan-European markets

NEW DELHI: 63 moons technologies, formerly known as Financial Technologies, on Tuesday said it will provide next-generation technology solutions to Italy-based Spuma SRL as it targets pan-European markets. In addition, 63 moons said it will evaluate global giants in cloud computing services like Amazon’s AWS, Microsoft’s Azure and Google cloud for deploying the technology, the […]

True North and others invest $93 million in US-based Accion Labs

NEW DELHI: Home-grown private equity fund True North on Tuesday announced that it has acquired a significant minority stake in digital engineering company Accion Labs for USD 93 million along with co-investors. The stake in the USA’s Pittsburg-based Accion has been acquired by the True North-advised Indium VI (Mauritius) Holdings from private equity fund TA […]

HAL’s rocket engine manufacturing facility inaugurated in Karnataka

BENGALURU: An Integrated Cryogenic Engine Manufacturing Facility (ICMF) set up by Hindustan Aeronautics Limited (HAL) that would cater to the entire rocket engine production under one roof for Indian Space Research Organisation (ISRO) was inaugurated by President Droupadi Murmu here on Tuesday. The state-of-the-art ICMF, set up over an area of 4,500 square metres houses […]

Akasa Air to start services to Guwahati, Agartala from Bengaluru

NEW DELHI: Newly-launched Akasa Air on Monday said it will commence its flight services to the northeast with the addition of Agartala (Tripura) and Guwahati (Assam) from October 21. As part of this expansion, the airline will connect the two north-eastern destinations, which will be its seventh and eighth, respectively, with Bengaluru, Akasa Air said […]

1,898 tribal women from Jharkhand offered jobs to mark Narendra Modi’s birthday

NEW DELHI: Around 1,900 tribal women from Jharkhand were offered jobs during an employment drive conducted by Tata Electronics Limited in collaboration with the Union Tribal Affairs Ministry to mark Prime Minister Narendra Modi’s birthday, a statement said. The two-day recruitment drive was organized at Khunti, Saraikela, Chaibasa and Simdega districts of Jharkhand on September […]

India, Pakistan both partners with different points of emphasis, says US

NEW DELHI: India and Pakistan are both partners of the US with different points of emphasis, the Biden administration said Monday, a day after visiting External Affairs Minister S Jaishankar questioned the rationale behind the latest American F-16 security assistance to Islamabad. Referring to the argument made by the US that F-16 sustenance package is […]

Andhra power distributor bars staff from using mobile phones on duty

AMARAVATI: Come October 1, all employees working under the state-owned Andhra Pradesh Central Power Distribution Corporation Limited will be barred from using their mobile phones while on duty to create a distraction-free environment in offices. The CPDCL noted that the communication gadgets have become a veritable nuisance as employees are wasting their working hours on […]

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