Andhra Pradesh capital to be shifted to Visakhapatnam;Kicks-off Global Investors’ Summit 2023 with diplomatic meet
NEW DELHI: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Tuesday said the State capital would be shifted to Visakhapatnam. Addressing the preparatory meeting for the Global Investors Summit to be held in Visakhapatnam in March, Jagan said he would be shifting his office to the port city in the months to come. ”Here […]
Fraud cannot be obfuscated by nationalism: Hindenburg on Adani ‘loot’
NEW DELHI: US short seller Hindenburg Research has rejected Adani Group’s charge that its report was an attack on India, saying a “fraud” cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, […]
Adani’s market loss swells to $70 billion as its fight with short-seller escalates
By Chris Thomas and Aditya Kalra NEW DELHI:Adani group shares extended their sharp falls on Monday as the Indian conglomerate’s rebuttal of a U.S. short-seller’s criticism failed to pacify investors, driving stock market losses for the companies to almost $70 billion over three days. Flagship Adani Enterprises (ADEL.NS), which is facing a crucial test this […]
Go First to get Rs 210 crore under government’s credit line guarantee scheme: CEO
NEW DELHI: Wadia group-owned Go First expects to receive Rs 210 crore under the government’s credit line guarantee scheme next month as the budget airline seeks to boost its financial position and expand operations. The airline, which received Rs 210 crore from the promoters last month, aims to have 53 operational aircraft in its fleet […]
Airbus to hire more than 13,000 people globally in 2023
NEW DELHI: To support its commercial aircraft ramp-up, meet challenges in defence, space and helicopters, Airbus intends to recruit more than 13,000 people globally in 2023. Around 7,000 of these will be newly created posts across the company. The new hires will be instrumental in supporting our industrial ramp-up and Airbus’ ambitious decarbonisation roadmap and […]
PE/VC investments decline by a third to $54.2 billion in 2022: Report
NEW DELHI: Investments by private equity and venture capital funds declined by nearly a third to USD 54.2 billion in 2022, which was characterised by a ‘funding winter’ after consecutive years of surge. Even after the decline, the year was the second best for India in terms of bets taken by such long term investors […]
India’s forex kitty rises by $1.727 billion to $573.727 billion: RBI data
NEW DELHI: India’s forex reserves increased by USD 1.727 billion to USD 573.727 billion in the week ended January 20, the Reserve Bank of India (RBI) said on Friday. This is the second consecutive week of a rise in the kitty after the USD 10.417 billion jump to USD 572 billion during the preceding week. […]
Indian Rupee closes at 81.53 against US dollar amid heavy selling pressure
NEW DELHI: The rupee appreciated 8 paise to close at 81.53 (provisional) against the US dollar on Friday amid a firm American currency against major rivals overseas. However, heavy selling pressure in the domestic equity markets and unabated foreign fund outflows restricted the gains in the local currency, forex traders said. At the interbank foreign […]
Tata Motors to hike prices of passenger vehicles by 1.2% from February
NEW DELHI: Tata Motors on Friday said it will increase prices of its internal combustion engine-powered passenger vehicle range by 1.2 per cent on a weighted average basis from February 1. The company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall input costs, […]
DLF plans to launch in February Rs 7500 crore worth premium housing project in Gurugram
NEW DELHI: Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief […]
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 […]
Rishabh Siroya elected as President of NAREDCO NEXTGEN committee
NEW DELHI: Rishabh Siroya, Founder, Siroya Corp, the leading realty group headquartered in Mumbai, has been unanimously elected as the new President of NAREDCO West (National Real Estate Development Council) NEXTGEN- the youth wing of the prestigious realtors’ body today. Commenting on his new role, Rishabh said, “Greatly honored and humbled by the confidence shown […]
Union Budget 2023-24: India holds customary ‘halwa’ ceremony to mark final stage of Budget preparation
NEW DELHI: The Halwa ceremony, marking the final stage of the Budget preparation process for Union Budget 2023-24, was held in North Block, today afternoon, in the presence of India’s Finance & Corporate Affairs Minister Nirmala Sitharaman and Ministers of State for Finance Pankaj Chaudhary and Dr. Bhagwat Kisanrao Karad. A customary Halwa ceremony is […]
Sukhvinder Singh Sukhu resolves to make Himachal Pradesh corruption-free, put economy back on rails
HAMIRPUR: Chief Minister Sukhvinder Singh Sukhu on Wednesday said his government will make Himachal Pradesh corruption-free state and put the economy back on rails. He also announced plans to start robotic surgery facilities at the Indira Gandhi Medical College and Hospital at Tanda and Hamirpur medical college to provide better health facilities at affordable rates […]
Nesca Homes host Canadian delegation
NEW DELHI: Nesca Homes hosted the Canadian delegation led by Richard Manwaring, Deputy Minister of Forests, British Columbia at their factory in Hyderabad. The visit’s objective is to demonstrate how Nesca Homes is working towards their goal and how far they have progressed in the Indian market in a short period of time. P.L. Narayana, […]
Nitin Gadkari inaugurates highway projects worth Rs 6,800 crore in Madhya Pradesh
NEW DELHI: Union minister for Road Transport and Highways Nitin Gadkari inaugurated 18 National Highway projects with a total length of 550 km in Orchha, Madhya Pradesh worth Rs. 6800 crore in presence of Chief Minister Shivraj Singh Chouhan, Union Minister Dr. Shri Virendra Kumar, Union Minister of State Prahlad Singh Patel and other ministers […]