Rising fuel costs and prohibitively expensive electric vehicles are making compressed natural gas (CNG) "a welcome relief and alternate fuel" for mobility for Indian consumers, according to a report by NRI (Nomura Research Institute) Consulting & Solutions. CNG vehicle sales continued to grow in FY22, rising by 55 per cent to 2,65,383 units in FY22 [...]
The Enforcement Directorate has recently recorded the statement of former NSE managing director and chief executive officer Chitra Ramkrishna, lodged inside Delhi's Tihar jail, as part of a money laundering investigation against her and others, officials said Tuesday. The proceedings for recording the statement were conducted on two occasions inside the jail. The statement has [...]
Crisis-hit Sri Lanka on Tuesday raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country’s worst economic crisis due to the shortage of foreign exchange reserves. With the second fuel price hike since April 19, now the most-used Octane 92 petrol would [...]
Prime Minister Narendra Modi on Monday met Softbank Corporation founder and CEO Masayoshi Son to discuss the Japanese investment firm's future participation in Indian technology, energy, finance and R&D sectors. "Further propelling Japanese investments in India...PM @narendramodi met Founder @SoftBank_Group Masayoshi Son and commended Softbank's role in India's startup sector," MEA spokesperson Arindam Bagchi tweeted. [...]
Prolonged high temperatures are credit negative for India, as that could exacerbate inflation and hurt growth, Moody's Investors Service said on Monday. Over the longer term, India's highly negative credit exposure to physical climate risks means its economic growth will likely become more volatile as it faces increasing, and more extreme incidences of climate-related shocks, [...]
Under pressure, the government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battering under high fuel prices that has also pushed inflation to a multi-year high. The excise duty cut will translate into a reduction [...]
India has exported wheat worth USD 177 million in March and USD 473 million in April even after the Russia-Ukraine conflict started in late February to help other countries overcome food crisis, sources said. According to them, India exported wheat even at a time when about eight nations, including Ukraine, Belarus, Turkey, Egypt, Kazakhstan and [...]
India's economic growth is likely to be robust at 8.9 per cent in the current financial year, reflecting the country's strong resilience and speedy recovery, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman also expressed confidence that India will continue to achieve a high growth rate in the next financial year as well, the finance [...]
Sri Lankan Prime Minister Ranil Wickremesinghe on Thursday accepted a generous offer from Maldivian Speaker Mohamed Nasheed to assist the debt-ridden island nation's bid to secure international relief in the ongoing economic crisis, according to an official statement here. “The Prime Minister accepted the former President’s offer and appointed him to coordinate the relief efforts,” [...]
Indian and Chinese companies are taking lead in use of artificial intelligence compared to their peers in major technically-advanced countries, an IBM survey report said on Thursday. According to the survey, 35 per cent of companies globally reported using AI in their business and when compared with 2021, organisations are 13 per cent more likely [...]
