Walkaroo to set up manufacturing unit in Rajasthan
CHENNAI: Noted footwear brand Walkaroo International Ltd is setting up a new greenfield manufacturing facility in Rajasthan at an investment of Rs 70 crore as it plans to strengthen presence in the northern market, according to a company official. With two-thirds of the revenue contributed from the southern region, the company expects to garner a […]
FTA talks in final phase with Diwali deadline in sight: London Lord Mayor
LONDON: The free trade agreement (FTA) talks between India and the UK are now in their final phase and despite some outstanding issues to be resolved, there is optimism on both sides that the Diwali deadline for a draft will be met, according to the Lord Mayor of London. Vincent Keaveny, the 693rd Lord Mayor […]
Seven of top-10 firms lose Rs 1.34 trillion in market capitalisation; RIL biggest laggard
NEW DELHI: The combined market valuation of seven of the 10 most valued firms eroded by Rs 1,34,139.14 crore last week, with Reliance Industries taking the biggest hit. Last week, the Sensex lost 741.87 points or 1.26 per cent amid an overall weak trend in equities. Barring Hindustan Unilever Limited (HUL), Bajaj Finance and ITC, […]
Delhi government starts process of preparing its budget for 2023-24
NEW DELHI: The Delhi government has started the process of preparing its budget for 2023-24 and asked its departments to furnish estimates after a “realistic assessment” to ensure funds are utilised within the given financial year, officials said on Saturday. The Finance Department has initiated the process of preparation of the revised estimates (RE) for […]
No decision taken on oil refinery plant location in Maharashtra: Hardeep Singh Puri
NEW DELHI: Petroleum Minister Hardeep Singh Puri on Saturday said the Centre has not taken any decision to set up an oil refinery project in any specific area in Maharashtra. Speaking to reporters in Chandrapur, he said the state government will have to discuss the project’s location with the Central government. He alleged the erstwhile […]
Amazon India customer base sees 2-fold jump during festival season sale
NEW DELHI: E-commerce firm Amazon India on Saturday said it has recorded a two-fold jump in its customer base from tier 2 and 3 cities during the first 36 hours of its festive season sale. Tier 2 and 3 cities accounted for 75 per cent of the total customer base of the e-commerce major during […]
Logiy Spaces to invest $37 million to build logistic park in Karnataka
NEW DELHI: Industrial and logistic park developer Logiy Spaces has tied up with AA Holdings to build a new project at Narasapura, Karnataka with an investment of USD 37 million (around Rs 300 crore). In a statement, AA Holdings, which has recently been formed by Abhijit Verma, said it has formed a joint venture with […]
Odisha approves proposal to bring limestone under long-term linkage policy
BHUBANESWAR: The Odisha cabinet on Thursday approved a proposal to bring lime stone under the purview of Long-Term Linkage (LTL) policy, in a bid to streamline its supply to the industries of the state. These industries will henceforth be getting their lime stone supply through Odisha Mining Corporation Limited (OMC), said Chief Secretary SC Mohapatra. […]
Singtel arm sells 1.59% stake in Bharti Airtel for Rs 7,261 crore
NEW DELHI: Pastel Ltd, an entity of Singtel, on Thursday divested 1.59 per cent stake in Bharti Airtel for Rs 7,261 crore through an open market transaction. The stake has been picked by Bharti Airtel’s promoter Bharti Telecom Ltd, as per block deal data with the National Stock Exchange (NSE). According to the data, Pastel […]
Dr. Rajiv Bahl appointed as ICMR Director General
NEW DELHI: Dr Rajiv Bahl was on Friday appointed as Director General of the Indian Council of Medical Research (ICMR) and Secretary of the Department of Health Research for a period of three years. Bahl is currently the Head of Research on Maternal, Newborn Child and Adolescent Health cum-Newborn Unit Head, Department of Maternal Newborn […]
Gujarat gets over Rs 2,800 crore loan from World Bank for health care
NEW DELHI: The World Bank on Thursday said it has approved a USD 350 million (over Rs 2,832 crore) loan to Gujarat for spending towards public healthcare services, focussed specially on adolescent girls and disease surveillance. The World Bank’s Executive Board of Directors approved the USD 350 million loan to the state, the multilateral funding […]
Hisense jumps to global number-2 TV brand; Launches two new future ready TV series this festive season
NEW DELHI: Hisense, a global leader in consumer home appliances and electronics, has launched its U7H TV & next generation A7H Tornado 2.0 TV series in India. Exquisitely designed U7H comes with a 4K 120Hz native panel equipped with Full Array Local Dimming, Quantum Dot Color, HDMI 2.1, Dolby Vision IQ, Dolby Atmos with e-ARC […]
Nitin Gadkari lays foundation stones for national highway projects worth Rs 3000 crore in Andhra Pradesh
NEW DELHI: Union Minister for Road Transport and Highways Nitin Gadkari laid the foundation stones for 8 National Highway Projects worth Rs. 3000 crore in Rajamahendravaram, Andhra Pradesh in presence of state Roads & Buildings Minister Dadisetti Ramalingeswara Rao , BJP State President Somu Veer Raju, MPs, MLAs and senior officials. Addressing the gathering Gadkari […]
India’s Defence Ministry signs contract worth Rs 1700 crore to acquire additional Brahmos missiles
NEW DELHI: In a further impetus to self-reliance in defence production, the Defence Ministry on Thursday signed a contract with BrahMos Aerospace for acquisition of additional dual-role capable surface-to-surface BrahMos missiles at an approximate cost of Rs 1,700 crore under ‘Buy-Indian’ category. In a statement, the ministry said the induction of these dual-role capable missiles […]
MUDRA scheme ‘practically worthless’ in promoting businesses: P Chidambaram
NEW DELHI: Senior Congress leader P Chidambaram on Thursday criticised the Centre’s MUDRA loan scheme, saying it was “practically worthless” in promoting businesses. The former finance minister also said he is not surprised that the non-performing asset (NPA) ratio is the highest under the MUDRA loan scheme. “I have long maintained that the MUDRA loan […]
India-UK FTA first step in evolving trade, economic ties: UK official
NEW YORK: Prime Minister Narendra Modi has set a very ambitious desire to get the India-UK Free Trade Agreement (FTA) signed by Diwali and his new British counterpart Liz Truss wants her administration to “match the pace and ambition” of the Indian leader, UK Foreign Secretary James Cleverly has said. Cleverly also said that the […]