CATEGORIES

Union govt takes reins of Manipur security

On Wednesday, thousands of tribals took out a solidarity march in the state’s 10 hill districts, where most of the tribal population resides, opposing a proposal to grant scheduled tribe status to the Meitei community, which makes up around 53% of Manipur’s population.

Airport, seaport, railway cos can now bid for road building

The move comes as the National Highway Authority of India (NHAI) and other road building agencies have lagged their highway-building targets for two years in a row.

G20 sets the cash registers ringing at hotels, travel cos

Top hotels and travel firms are licking their lips as a slew of G20 summits this year promises to attract throngs of visitors

'India is a bright spot for growth, aided by domestic consumption'

Gulveen Aulakh

India, Russia halt talks to settle trade in rupees

India and Russia have suspended efforts to settle their trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers, several people with direct knowledge of the matter said.

India eyes Guyana's oil to meet demand

Long-term supply contracts offer stability amid volatile energy markets. Exxon Mobil, the leading oil producer in Guyana, plans to boost the nation’s production capacity to 1.2 million barrels a day by 2027.

Mitsui, Osaka Gas bid for ReNew C&I

ReNew’s $300m stake sale is part of a capital recycling strategy Last year, Mitsui acquired a 49% stake in ReNew’s RE project

Russia blames Ukraine for foiled attack

Russia said on Wednesday it had shot down two drones aimed at president Vladimir Putin's Kremlin residence in what it called a Ukrainian \"terrorist\" assassination attempt.

Questions over Go filing as CEO says owners committed

On Wednesday, a day after the low-fare airline moved the National Company Law Tribunal (NCLT), its CEO Kaushik Khona told a television channel that the promoters remain committe

Go First grounding is boon for rivals, bane for travellers

IndiGo and Air India are being seen as the main beneficiaries of the suspension of operations by Go First

With Go First's fate up in air, staff head for exits

Pilots and cabin crew are heading to rivals Air India, IndiGo and Akasa

CCI appeals set to get costlier under new anti-trust law

The bill suggests raising the deposit to 25% of the penalty value, up from the earlier 10%, to deter frivolous appeals by companies.

'Tata Steel's European ops will be much better by Q3'

Narendran expects China’s 5-6% growth to be a major boon for the global economy. The company’s steel demand will be driven by consumption rather than investment, he said.

MRF Q4 net profit up two-fold to ₹341 crore

Tyre maker MRF Ltd on Wednesday said its consolidated net profit surged over two-fold to ₹341 crore for the March quarter, riding on lower raw material cost.

FPIs close out record bearish bets on benchmark indices

Analysts are extrapolating this to mean the market has priced in the worst-case scenario of the Fed not taking a pause on rate hikes.

Adani Wilmar Q4 net dips 28%

The company’s profit in the three months ended 31 March plunged to ₹93.61 crore from ₹234.29 crore a year earlier

Investor protection fund to be searchable

The investor-friendly step will enable claimants to skip private entities that charge a fee to search and claim shares and dividends on their behalf.

IndiGo shares soar as Go First's woes may brighten yield outlook

Investors seem to be excited about the prospect of market share gains and the resultant boost in airfares after Go First voluntarily filed an application with the NCLT for initiating insolvency resolution process.

Services are shining, but will the glow last?

The seasonally adjusted S&P Global India Services PMI Business Activity Index rose to a nearly 13-year high of 62 in April from 57.8 in March.

Iron Pillar leads $30mn funding round in cloud services co Pando

Supply chain-focused software-as-as-service (SaaS) provider Pando has raised $30 million (around ₹254 crore) in its Series B funding round led by Iron Pillar, which invested $12 million in the company.

Tata Comm buys video co Switch for $59 mn

The acquisition will help Tata Communications to support Switch’s customers with global reach, while the latter will bring live production capabilities, helping companies to produce high quality immersive content faster

Govt cracks down on unused mines to enable new auctions

The move comes as the ministry looks to increase mineral production through time-bound operationalisation of mines by offering these unused mines to newer entities through auction.

India may challenge EU's domestic law

The WTO’s dysfunctional dispute settlement panel has found tariffs imposed by India on mobile phones and electronic components in violation of the General Agreement on Tariffs and Trade.

Rice exports to slip; India may lose its global rice market rank

In FY23, India exported 17.79 million tonnes (MT) of non-basmati rice as compared with 17.3 MT in FY22, while broken rice exports were 23% lower on year at 3 MT because of a ban on shipments imposed to keep domestic prices down.

WTO must review food subsidy rule, says Sitharaman

Under Peace Clause, WTO members agreed to refrain from challenging any breach in prescribed ceiling by a developing nation at the dispute settlement forum of the WTO. This clause will stay till a permanent solution is found to the food stockpiling issue.

Zydus Group seeks to sell clinical research biz

The Zydus family is seeking a price of between $200 million and $250 million for Cliantha Research, according to sources

Go First grounding is boon for rivals, bane for travellers

IndiGo and Air India are being seen as the main beneficiaries of the suspension of operations by Go First

Services growth at 13-year high in April

S&P’s Services PMI rose to 62 in April from 57.8 in March India’s services exports grew a record 26.6% in FY23 to touch $322 billion, while services imports rose 22.2% to $179

Morgan Stanley to cut 3,000 jobs amid deal slump

Morgan Stanley is preparing a fresh round of job cuts amid a renewed focus on expenses as recession fears delay a rebound in dealmaking.

Varun Beverages profit jumps 69%

India-based Pepsi bottler Varun Beverages on Tuesday reported an about 69% jump in quarterly profit on price increases and steady demand, and said it would split each of its existing shares into two.