A lot changed for the markets amid geopolitical tensions between Russia and Ukraine. Global markets fell sharply and FIIs were net sellers in Indian markets for five months in a row. A spike in energy prices had the markets worried and there are concerns about inflation. The domestic economy has recovered from the third wave [...]
Shillong, Mar 9 (PTI) Meghalaya Chief Minister Conrad K Sangma on Wednesday tabled a Rs 1,849-crore deficit budget in the assembly for the fiscal 2022-23, proposing no additional taxes and featuring a separate section on funding for sustainable development goals.Sangma also announced that the state government has made “fundamental changes” in the budgeting system, doing [...]
New Delhi, Mar 9 (PTI) The government on Wednesday imposed curbs on imports of Hydrofluorocarbons (HFCs) used in refrigeration and air-conditioning to boost domestic manufacturing of the chemical."Import policy of Hydrofluorocarbons (HFCs) has been revised from 'free' to 'restricted', subject to NoC (no objection certificate) from the Ministry of Environment, Forest and Climate Change," the [...]
New Delhi, Mar 9 (PTI) Stove Kraft Ltd managing director Rajendra Gandhi on Wednesday bought company shares worth Rs 50 crore through an open market transaction. According to the bulk deal data on BSE, he purchased 7.75 lakh shares at an average price of Rs 645 apiece. Gandhi, a promoter of the company, held 53.4 [...]
New Delhi, Mar 9 (PTI) Council for Leather Exports (CLE) on Wednesday urged the government to extend the production-linked incentive (PLI) scheme to the sector and consider setting up a leather park to boost manufacturing, export and job creation.CLE Chairman Sanjay Leekha said India's leather and footwear exports stood at USD 5.5 billion at present, [...]
Jaipur, Mar 9 (PTI) Rajasthan Chief Minister Ashok Gehlot on Wednesday asked the Union Minister for Road Transport and Highways Nitin Gadkari to expedite the pending proposals for declaring 50 state highways as national highways. This will strengthen the infrastructure of the state and the areas connected with these roads will develop rapidly, he said. [...]
A Delhi Court on Wednesday pulled up the CBI for the tardy investigation in the NSE co-location scam case, saying that the magnitude of the case “will be big” and the reputation of the country was at stake and sent former group operating officer (GOO) of National Stock Exchange Anand Subramanian to 14-day judicial custody. [...]
New Delhi, Mar 9 (PTI) A delegation led by Steel Minister Ram Chandra Prasad Singh will meet investors in Dubai this week to attract investment in the Indian steel sector, an official statement said.The India Pavilion at EXPO 2020, Dubai, is all set to host 'Steel Week' from March 11, 2022. The weeklong event will [...]
Colombo, Mar 9 (PTI) Sri Lanka is set to finalise another credit facility with India for food, medicine and other essential items which would help the island nation facing the worst economic crisis in decades, official sources here said on Wednesday.Sri Lanka is currently reeling under a severe foreign exchange crisis with falling reserves. The [...]
New Delhi, Mar 9 (PTI) Buoyed by record pre-booking of its flagship devices in the S22 series, South Korean electronics major Samsung on Wednesday said it expects to outpace the industry growth with expansion of product ecosystem and become a leader in the premium segment by June this year.Samsung India senior vice president Raju Anthony [...]
Mumbai, Mar 9 (PTI) The crippling economic sanctions imposed by the US and European nations on Russia following its invasion of Ukraine threaten to take the sheen off the domestic diamond industry, culling its sales by 25-30 per cent worth USD 2-2.5 billion in the next quarter alone, a report has warned. The domestic diamond [...]
Mumbai, Mar 9 (PTI) The Reserve Bank on Tuesday said NaBFID will be regulated and supervised as an All India Financial Institution by it under the RBI Act, 1934.The National Bank for Financing Infrastructure and Development (NaBFID) Act, 2021, received the assent of the President on March 28, 2021. It came to force with effect [...]
New Delhi, Mar 9 (PTI) Digital financial services firm One97 Communications, which owns the Paytm brand, has hired 145 talents from the top management institutes, including IIM Ahmedabad, IIM Lucknow and ISB Hyderabad, for mid-level managerial positions, the company said on Wednesday.Paytm vice president Narendra Yadav said that the hiring is for the mid-managerial level."We [...]
Beijing, Mar 9 (PTI) China once again kept mum on Sri Lanka’s request for debt restructuring but said it has been assisting the island nation to the best of its ability to overcome its forex crisis.Sri Lanka, which has emerged as a key foothold for China in the Indian Ocean region, is currently reeling under [...]
New Delhi, Mar 9 (PTI) Buoyed by record pre-booking of its flagship devices in the S22 series, South Korean electronics major Samsung on Wednesday said it expects to outpace the industry growth with expansion of product ecosystem and by making premium foldable smartphones more mainstream.Samsung India senior vice president Raju Anthony Pullan told PTI that [...]
New Delhi, Mar 9 (PTI) India and Canada on Thursday will hold discussions on ways to strengthen economic ties and proposed free trade agreement between the two countries, the commerce ministry has said. Canadian International Trade Minister will be visiting India from March 10-13 to hold the fifth India-Canada Ministerial Dialogue on Trade and [...]
New Delhi, Mar 9 (PTI) Union Minister Kailash Choudhary on Wednesday said only about Rs 8,000 crore was availed under the government's Rs 1 lakh crore Agri Infrastructure Fund last year despite creating awareness among farmers, and called on the farming community to take advantage of the scheme. In his inaugural address at the three-day [...]
New Delhi, Mar 9 (PTI) Tata Power on Wednesday said its Singapore-based JV Resurgent Power Ventures has won the bid to acquire the stressed asset of South East UP Power Transmission Company Limited (SEUPTCL) through its resolution process under the Insolvency and Bankruptcy Code (IBC). Tata Power did not disclose the bid offered by Resurgent [...]
New Delhi, Mar 9 (PTI) Union minister Mansukh Mandaviya has exhorted the industry to take concrete efforts towards increasing local production of medical devices while stressing that the sector has huge potential for growth in the domestic as well in global markets, the Chemicals and Fertilizers Ministry said on Wednesday. In a meeting held on [...]
Mumbai, Mar 9 (PTI) The rupee appreciated 38 paise to close at 76.62 against the US dollar on Wednesday following a retreat in crude oil prices and rebound in domestic equities.At the interbank forex market, the local unit opened at 76.90 against the greenback and witnessed an intra-day high of 76.53 and a low of [...]
