L&T bags $3.9 billion contracts from Saudi Aramco for 2 gas projects
Riyadh: India's largest infrastructure firm L&T has secured contracts exceeding $4 billion from Saudi Aramco for the expansion of its gas projects.
Finance
No bids for Jammu Kashmir lithium block in second auction attempt: Report
New Delhi: India's Jammu and Kashmir received no bids in a second attempt to auction mining rights for lithium reserves discovered last year, Reuters reported citing a source with direct knowledge of the matter.
Poverty in India declines from 21.2% in 2011-12 to 8.5% in 2022-24: NCAER research
New Delhi: Poverty in India is estimated to have declined to 8.5% in 2022-24 from 21.2% in 2011-12, despite the challenges posed by the pandemic, according to a research paper by the economic think tank NCAER.
UPI payments now available in UAE after NPCI International Payments and Network International join hands
New Delhi: UPI payments are now available in the UAE through a partnership between NPCI International Payments Ltd and Network International, a key player in digital commerce across the Middle East and Africa.
India's coal production jumps 14.49% to 84.63 MT in June
New Delhi: The country's coal production surged by 14.49% to 84.63 million tonnes (MT) in June, up from 73.92 MT in the same period last fiscal year, according to the provisional government data.
Income Tax Budget 2024 expectations: Will Nirmala Sitharaman introduce new tax breaks or modify existing ones?
New Delhi: As the Union Budget 2024 approaches, taxpayers and financial experts are keen to see if new tax deductions will be introduced or existing ones modified.
Indian Railways achieves 135.46 MT freight loading in June2024
During the month of June 2024, originating freight loading of 135.46MT has been achieved against loading of 123.06MT in June 2023, which is an improvement of approx 10.07% over the last year, the Ministry of Railways said on Wednesday.
Indian social media app Koo shuts down after funding talks fail
Bengaluru: Indian social media app Koo, once considered a potential future rival to the micro-blogging platform X, has shut down today, is closing down, founder Aprameya Radhakrishna announced on LinkedIn on Wednesday.
Airtel, Reliance Jio effect tariff hike from today, take a look at new plans
Mumbai/IBNS: Prepaid recharge plans in India are getting expensive as the hiked tariffs earlier announced by Reliance Jio and Bharti Airtel go live today, Wednesday (July 3).
India’s rising forex reserves a safeguard against flight of capital, global uncertainties: NCAER Paper
New Delhi/IBNS: Since the 1991 shock, India’s steady accumulation of foreign reserves which stood at over USD 653 billion by June, comfortably surpassing the conventional thresholds for adequacy used by IMF and others, is set to act as a bulwark against any adverse geo-strategic and geo-economic factors like the Israel-Hamas and Russia-Ukraine conflicts.
Air India to set up flying training organisation in Maharashtra's Amravati, make it operational by early 2026
New Delhi/IBNS: Air India on Monday (July 1) announced that it will set up a flying training organisation (FTO) in Maharashtra’s Amravati, and make it operational by early 2026.
Punjab needs to junk free power, mono-culture farming to overcome economic woes: NCAER Paper
New Delhi/IBNS: Punjab, which was the beacon of Green Revolution and has been the ‘food bowl’ of India, needs to shed its mono-culture farming, scrap subsidies like free power and water and reorient its industries and services to overcome slow economic growth, high debt, societal challenges like the drug menace and environmental degradation.
Indian Railways achieves 135.46 MT freight loading in June 2024
New Delhi: The Indian Railways achieved originating freight loading of 135.46 MT during the month of June 2024 compared to 123.06MT in June 2023, up 10.07%.
India sells 44,800 tons of unprocessed aluminum to Russian companies
The trade ties between India and Russia have strengthened with volume touching $65.7 billion in the financial year ending in March 2024, media reports said.
Sensex crosses 80,000 mark for the first time
Touching a landmark moment, the 30-stock Sensex has crossed the 80,000 mark on Wednesday.
Project Nexus: Reserve Bank of India joins ASEAN nations to create platform for instantaneous cross-border payments
Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
Education startup Unacademy lays off 250 employees in fresh round
Bengaluru: SoftBank-backed edtech startup Unacademy has laid off 250 employees in a new round of company-wide layoffs, media reported.
Stock gaming apps in trouble after SEBI circular: Report
Mumbai: Nearly half a dozen startups related to stock gaming are either shutting down, pausing operations, or considering a pivot a week after the Securities and Exchange Board of India (SEBI) banned such services, media reported.
Hindenburg neither a client nor an investor: Kotak Mahindra Group after short seller alleges role in betting against Adani
Mumbai: The Kotak Mahindra group stated that Hindenburg Research was never a client of its K-India Opportunities Fund (KIOF) or Kotak Mahindra International Ltd (KMIL) and that the fund was unaware of the US short seller being a partner of any of its investors, Moneycontrol reported.
Hindenburg Research attacks market regulator SEBI, reveals it made small gain with last year's Adani short-selling event
New Delhi: Hindenburg Research criticised India’s market regulator for not addressing the alleged fraud in its report on the Adani Group from early last year, stating it gained just over $4 million from the short-selling event that led to a massive market downturn for the conglomerate, Bloomberg reported.
ICC hosts Bihar Business Connect 2024 in Kolkata to showcase state's growth and investment potential
Kolkata/IBNS: The Indian Chamber of Commerce (ICC) on Monday (July 1) hosted Bihar Business Connect 2024, a global investors’ summit along with Kolkata investors’ meet at Taj Bengal in the city.
Firms with women in board, top management perform better: NCAER Study
New Delhi/IBNS: The ‘woman director’ mandate under The Companies Act (2013) to address gender gap led to a remarkable rise in the share of women in board positions, which led to better economic performance and lower financial risk, particularly of large and medium-sized firms, says a study by the National Council of Applied Economic Research (NCAER).
West Bengal govt withdraws temporary relief measures to real estate sector
Mumbai/IBNS: The West Bengal government has withdrawn the temporary relief measures including a two percent reduction in the stamp duty and 10 percent cut in the circle rate earlier granted to the real estate sector, media reports said.
Mahindra Auto sells 40,022 SUVs, a 23% growth and total volumes of 69,397,marks 11% growth in June 2024
Mahindra & Mahindra Ltd. (M&M Ltd.), an Indian automotive major, on Monday announced that its overall auto sales for the month of June 2024 stood at 69,397 vehicles, a growth of 11%, including exports.
TVS Motor's sales grew by 5 pct in June 2024
Automobile major TVS Motor Company recorded monthly sales of 333,646 units in June 2024 with a growth of 5% as against 316,411 units in the month of June 2023.
Garden Reach Shipbuilders and Engineers to build advanced Ocean-Going Tug for Bangladesh Navy
Keeping up the tempo in the arena of Defence Exports, Garden Reach Shipbuilders and Engineers (GRSE) Ltd signed an agreement with the Directorate General, Defence Purchase, Ministry of Defence, Government of the People’s Republic of Bangladesh on Sunday (June 30, 2024), for the construction of an advanced Ocean-Going Tug.
Boeing agrees to acquire Spirit AeroSystems in $4.7bn deal
Arlington/IBNS: American aerospace manufacturer Boeing on Monday (July 1) announced it has entered into a definitive agreement to acquire Kansas-based aerostructure manufacturer Spirit AeroSystems, according to a statement issued by Boeing.
Entrepreneurs gain valuable insights at FICCI FLO's seminar on MSME in Kolkata
Kolkata: FICCI FLO, the women's wing of the Federation of Indian Chambers of Commerce and Industry, recently hosted a seminar focussing on the leading role played by the MSMEs in India.
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador
Kolkata/IBNS: Veedol India, one of the country's leading lubricant brands from Tide Water Oil Co. (India) Ltd., on Friday signed up former Indian skipper and ex-President of the Board of Control for Cricket in India (BCCI), Sourav Ganguly, as its brand ambassador.
Bandhan Bank starts online collection of direct taxes
Kolkata: Bandhan Bank today announced that it has launched the facility to collect direct taxes online from its customers and non-customers across India.