Hit hard by the zero-Covid policy and slump in the real estate market, China’s economy shrank to three per cent in 2022, registering its second lowest growth rate in 50 years in the world’s second-largest economy, according to official data released here on Tuesday. The annual GDP of China totalled 21.02 trillion yuan (USD 17.94 [...]
Assam is likely to achieve 100 per cent electric three-wheeler sales by 2025, making it the first Indian state to reach the milestone, according to a study carried out by a top US university. As of fiscal 2023 -- April 2022 – January 2023--, Assam has achieved about 85 per cent of new electric three-wheeler [...]
Amid rising geopolitical risks, a vast majority of Indian CEOs have indicated in a survey that they are reducing or planning to reduce operating costs, even as they are more upbeat than their global peers on their country's economic prospects. However, most of the companies do not plan to cut their headcount or salaries, found [...]
The Sensex and Nifty climbed in initial trade on Tuesday amid buying in index majors Reliance Industries and HDFC twins. The 30-share BSE benchmark advanced 234.16 points to 60,327.13 after a positive beginning. The broader NSE Nifty climbed 64.5 points to 17,959.35. From the Sensex pack, Hindustan Unilever, HCL Technologies, Larsen & Toubro, NTPC, Tata [...]
In the most pessimistic outlook in more than a decade, a global survey of CEOs on Monday showed 73 per cent of them expecting the global economic growth to decline over the next 12 months. Releasing the annual survey on the first day of the World Economic Forum Annual Meeting here, PwC said this is [...]
Shares of Bank of Maharashtra on Monday rallied nearly 5 per cent after the company reported a two-fold jump in its standalone profit after tax in the quarter ended December 2022. On the BSE, shares of the company climbed 4.26 per cent to settle at Rs 33.05 each. During the day, it jumped 8.51 per [...]
State-owned Bank of Maharashtra (BoM) on Monday said it proposes to raise up to Rs 1,000 crore from qualified institutions placement (QIP) in the January-March quarter to meet minimum public shareholding (MPS) norms of market regulator Sebi. The bank has initiated the process to meet the norms of Securities and Exchange Board of India (Sebi), [...]
Maruti Suzuki India on Monday said it transported over 3.2 lakh vehicles using Indian railways last year, its highest-ever dispatch in a calendar year. The company had obtained a Automobile Freight Train Operator (AFTO) licence in 2013 allowing it to fabricate and operate high-speed, high-capacity auto-wagon rakes on the Indian Railways network. In the last [...]
The government of Tripura and NTPC Renewable Energy Limited (NTPC REL) have signed an agreement for development of renewable energy projects in the northeastern state. The Memorandum of Understanding (MoU) was signed between Tripura Chief Minister Manik Saha and senior officials of NTPC Ltd in the national capital on Monday, an official statement said. "NTPC [...]
Driven by a 20 per cent rise in the number of originators to 120, securitisation volume jumped 42 per cent to over Rs 1.15 lakh crore in the first three quarters of the current fiscal, a report said on Monday. Led by small finance banks, securitisation activity became broad-based and the number of originators rose [...]