CATEGORIES

Fed softens tone, but will RBI?

After a brief pause last month, the US Federal Reserve (Fed) has hiked its policy rate by 25 basis points (bps).

Together makes first close of $150 mn fund

The fund will be used for early stage investment in SaaS, AI startups

Govt weighs legal action, recovery procedure against FAME defaulters

Even as two-wheeler electric (EV) makers have written to the prime minister’s office (PMO) and the ministry of heavy industries (MHI) seeking waiver of the overall penalty of ₹469 crore, Union government is unlikely to relent and plans to take them to court if the penalties are not paid in next few days.

Jan Vishwas, offshore minerals bills passed

Government pushed through its busy legislative agenda for the monsoon session by introducing and clearing few more bills including the Jan Vishwas and Offshore Areas Mineral Amendment Bills on Thursday.

Speed up common form for tax: Panel

Finance ministry should speed up process of introducing a common income tax return form which will make tax filing easier, Parliamentary Standing Committee on Finance led by Jayant Sinha said in a report tabled in Lok Sabha on Thursday.

Govt may offer PLI for chemicals, petrochem

Help on cards for sector facing challenges on pollution, skilling, labour

Panel urges govt to finalize digital competition bill

The parliamentary standing committee on finance, led by Jayant Sinha, on Thursday urged the Union government to finalise the digital competition bill at the earliest to check a slew of anti-competitive practices plaguing the digital markets.

TechM's next CEO to get ₹46.8 cr package

Tech Mahindra Ltd’s managing director and chief executive officer (CEO) designate Mohit Joshi has been offered a ₹7 crore joining bonus and stands to earn as much as ₹46.8 crore in his first year, making him one of the highest-paid professional CEOs in the country.

India, Iran set to ink long-term deal on Chabahar port

India and Iran are expected to sign a long-term deal for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduled in New Delhi in October, two people familiar with the matter said.

What will the museum of the future look like?

The second edition of the Bihar Museum Biennale will define the museum of the future as a dynamic interactive space

Musk in a tough banking race

Twitter has already snagged money-transmitter licenses in four US states, including Arizona and Missouri

India to be one of world's top 3 economies in my 3rd term: PM

New International Exhibition-cum-Convention Centre, Bharat Mandapam, unveiled

Bajaj Fin troubled by rapid growth of personal loans

In Q1 FY24, Bajaj Fin recorded highest quarterly growth in AUM of ₹22,718 cr and expects it to be 29-31% in FY24

Whyte & Mackay single malt whisky finds key mkt in India

India's whisky market is projected to grow from $210 mn in 2022 to $480 mn in 2027

IndiGo's Pratt & Whitney woes resurface

In another wave of engine trouble in India, IndiGo, the country’s largest airline, will need to send some of its Airbus A320neo family aircraft using Pratt and Whitney engines for inspection as the US engine maker has suggested accelerated inspection of 600 aircraft worldwide.

ReNew, Petronas arm in 5GW clean energy deal

Firms announce equal JV to develop solar, wind, energy storage projects

ICC World Cup date change may spark hotel cancellations

According to a senior BCCI official its decision on the date change will be announced on Wednesday

Shoppers Stop to expand affordable fashion footprint

During the June quarter, Shoppers Stop opened 3 stores under the 'Intune' format; 2 in Hyderabad and one in Mumbai

Tesla eyes Asian mkts with upcoming low-cost model

Co has been cutting prices across its models to attract customers amid high inflation

LIC MF ranking to jump a notch after merger with IDBI MF

The integration of the IDBI Mutual Fund schemes with those of LIC MF could push up the ranking of the latter by a notch to 22 after the transfer concludes on 29 July, said a top official of LIC MF. The ranking is by assets under management (AUM).

Marico to take majority stake in plant-based nutrition brand Plix

Packaged consumer goods company Marico Ltd has signed a definitive agreement to acquire a majority stake in Satiya Nutraceuticals Private Ltd that owns plant-based nutrition brand Plix for ₹369 crore.

Axis Bank clocks 41% profit growth in Q1

Private sector lender Axis bank reported a 41% year-on-year (y-o-y) increase in net profit for the first quarter of the current fiscal, driven by higher net interest income and fee income.

AI leaders to form industry watchdog as scrutiny grows

The effort aims to consolidate the expertise of member firms and create benchmarks for the industry

Drug firms move ministry over FDC ban, seek time to sell stock

The Indian Drugs Manufacturers Association has presented its case to the top drug regulator, urging a re-evaluation of the ban on 14 fixed dose combination drugs (FDC), besides granting a grace period for liquidating existing inventory.

'Finland's quantum help for India soon'

Finland will help India develop and build quantum computers here, Finnish diplomat Kimmo Siira said in an exclusive interview with Mint.

House panel in favour of economic ties with Pakistan

Parliament Standing Committee on Foreign Affairs urged the government to consider the establishment of economic ties with Pakistan, despite the diplomatic deep freeze in bilateral relations for some time.

Fewer working Asians will hit growth worldwide: Moody's

Trouble ahead for six Asian nations without better productivity gains, workforce participation

Mystery deepens around China's former foreign minister

China’s former foreign minister, who was replaced on Tuesday after he went missing from public view for more than a month, is now disappearing from parts of the Foreign Ministry’s website — an erasure that is intensifying intrigue around what happened to him.

UK pushes for bottling of whisky in third country

British officials negotiating a free trade agreement (FTA) are advocating bottling their whisky ‘in transit’ in a third country for reasons related to cost, logistics, and ‘premium-ness’ of the products, a person aware of the development said.

Jio Financial joins BlackRock to launch asset management firm

Jio Financial Services Ltd, the demerged financial lending arm of Reliance Industries Ltd, and BlackRock, the world’s largest asset manager, have joined hands to set up an asset management company with a combined investment of $300 million.