Japan International Cooperation Agency signs 5,509 crore loan agreement for Patna Metro Rail Project
NEW DELHI: The Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of India to provide Japanese ODA loan of 98,612 million yen (Approx. Rs 5509 crore) on 29th March 2023 for Patna Metro Rail Project Phase 1. The MoU was signed in the presence of Arunish Chawla (IAS), Managing Director, Patna […]
Renaatus gets $ 29 million contract from Maldives to expand Gan International Airport
NEW DELHI: Renaatus Projects Private Limited, a construction and construction material manufacturing company with a strong foothold in Maldives and Mauritius as well as a growing presence in India, has won a US$29 million contract from the Government of Maldives to expand and upgrade the infrastructure of Gan International Airport, operated by Addu International Airport. […]
Akasa Air to hire nearly 1,000 people by March 2024: CEO Vinay Dube
NEW DELHI: Akasa Air plans to hire nearly 1,000 people and take the total staff strength to more than 3,000 by the end of March 2024 as the airline continues to expand its fleet as well as routes, according to its chief Vinay Dube. The airline, which took to the skies a little over seven […]
Honda to launch new car every year till 2028 in Indian market
NEW DELHI: Japanese car maker Honda will introduce one new product every year for the next three to five years to raise its market share in the Indian market, a company official said. Honda Cars India presently has two models in the country, a compact sedan and a sedan, which accounts for 2.5 per cent […]
Elista to invest Rs 250 crore to set up new facility in Andhra Pradesh
NEW DELHI: Electronics maker Elista India will invest Rs 250 crore to set up a manufacturing plant in Kadapa, Andhra Pradesh, in five years, which will help the company meet the domestic and exports markets demand, Chairman and Managing Director Saket Gaurav said. The investment for the new plant would be funded equally from equities […]
LG Manoj Sinha invites leaders from UAE to become partner in Jammu and Kashmir’s development
NEW DELHI: Jammu and Kashmir Lieutenant Governor (LG) Manoj Sinha invited business leaders from the United Arab Emirates to become partner in development and move together towards creating a more prosperous, equitable and vibrant Union Territory. Sinha addressed the India-UAE Investment Summit and interacted with the business delegates from the UAE and across the country […]
Eye on 2024 polls, Andhra Pradesh Budget allocates lion’s share for welfare
AMARAVATI: Keeping its interests in mind ahead of the Assembly elections scheduled for 2024, the Andhra Pradesh government has allocated the lion’s share of the state Budget — more than Rs 54,000 crore of the total Rs 2,79,279 crore — to Direct Benefit Transfer (DBT) schemes, targeting potential voter segments such as pensioners, farmers, students […]
Puducherry Chief Minister announces monthly LPG subsidy of Rs 300
PUDUCHERRY: The Puducherry government on Monday announced a Rs 300 monthly LPG subsidy for the people of the union territory, earmarking Rs 126 crore for the scheme. Chief Minister N Rangasamy made the announcement in the UT budget presented for the year 2023-24. Rangasamy, who detailed the achievements of various departments said the government had […]
Xi Jinping’s confidant Li Qiang China’s new Premier
BEIJING: China’s Parliament on Saturday confirmed President Xi Jinping’s trusted ally Li Qiang as the new Premier to revive the world’s second-largest economy hit by three years of ‘zero-Covid’ restrictions and worsening ties with the West. Li Qiang, 63, succeeds Li Keqiang, 67, who held the post for 10 years. The annual session of the […]
Adani group seeks to sell stake in Ambuja Cements for $450 million
NEW DELHI: Gautam Adani is seeking to sell a stake in Ambuja Cements for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. Adani on Thursday made a formal request to international lenders to sell 4 per cent to 5 per cent in Ambuja Cements, his cement business, the […]
Maharashtra Budget dangles carrot before people, indicates mid-term polls are near:Opposition
MUMBAI: Opposition leaders on Thursday described the Budget presented by the Eknath Shinde-led Maharashtra government as the dangling of carrot in front of people and a precursor to mid-term elections. The state Budget for 2023-24 proposed Rs 6,000 assistance to farmers and Re 1 crop insurance scheme while also offering relief in professional tax to […]
Devendra Fadnavis presents Maharashtra government’s maiden Budget in Assembly
MUMBAI: Maharashtra Deputy Chief Minister Devendra Fadnavis, who is also the state Finance Minister, on Thursday presented the Eknath Shinde-led government’s first Budget for the year 2023-24 in the state Assembly. Fadnavis started reading out the budgetary allocations in the Lower House of the state legislature at 2 pm. He read out the budgetary provisions […]
India’s Finance Ministry tightens definition of ‘beneficial owners’ under PMLA
NEW DELHI: India’s Finance Ministry has tightened the definition of beneficial owners under the anti-money laundering law, mandating reporting entities like banks and crypto platforms to collect information from their clients. As per the amendments to the Prevention of Money Laundering Act (PMLA), 2002 any individual or group holding 10 per cent ownership in the […]
FedEx to open first advanced capability community in India
NEW DELHI: FedEx has announced plans to open its first Advanced Capability Community (ACC) in Hyderabad, India in 2023. The opening is part of a broader multi-year initiative to strengthen the recruitment and development of the company’s diverse workforce all around the world and build a more efficient and agile organization to enhance how we […]
Maharashtra’s economy expected to grow by 6.8% in 2022-23: Economic Survey
MUMBAI: Maharashtra’s economy is expected to grow by 6.8 per cent in FY 23 as against the projected growth of the Indian economy by 7 per cent, as per the Economic Survey 2022-23 tabled in the state Legislative Assembly on Wednesday. The agriculture and allied activities sector will grow by 10.2 per cent in the […]
Punjab body GMADA fetches Rs 1,935 crore from e-auction of properties
CHANDIGARH: The e-auction of various properties of the Greater Mohali Area Development Authority (GMADA) has received a thumping response as the authority fetched Rs 1935.88 crore from the process, said an official statement here on Tuesday. It said the auction process, which commenced on February 17, concluded on Monday evening. Properties auctioned include group housing, […]