CATEGORIES

Crisis in diamond city: Is Surat's sheen dimming?

Surat is in pain as the diamond industry is in the middle of a major upheaval. Many people have lost their jobs and some have taken their lives. Mint looks at the issue that is plaguing India's diamond city and the reasons behind this crisis

RBI rejects Cred bid to boost stake in Newtap Fin

Cred's attempt to increase its stake in a non-banking finance company founded by Kunal Shah has run into hurdles, with the Reserve Bank of India rejecting the Bengaluru-based fintech's application, two people familiar with the development said

Russia war fallout may hurt Indian diamond exports

The Indian diamond trade, which produces nine out of 10 of the world's polished diamonds and employs over 4 million, could face collateral damage from the Russian war

Govt spending spree ahead as polls near

New plans include rail signalling overhaul, Bharatmala phase-2

IMD Warns Of Increased Rainfall In East India This Week

East India is likely to witness increase in rainfall activity from Wednesday and over adjoining central India from Thursday as a cyclonic circulation may turn into a low-pressure area over north Bay of Bengal and neighbourhood around Friday, India Meteorological Department said in its latest bulletin.

Kidney transplant offers hope

A pig kidney transplanted into a brain-dead man has worked normally for a month - the longest in such trials

News channels gain steam as polls loom

Television news viewership that hit a record following the pandemic outbreak and plunged thereafter as normalcy resumed has begun to pick up again, at a time critical state and general elections are approaching.

Voda Idea to conclude funding talks next qtr

The firm has been making attempts to raise ₹20,000 crore since 2020

Uniqlo's Mumbai push: Two new stores in Oct

The Japanese apparel retailer sets sights beyond its 10 stores in the North

NCLAT asks RBI to respond to Srei ex-promoter co's petition

The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the Reserve Bank of India (RBI) to respond in three weeks to a petition filed by Adisri Commercial, the former promoter of Srei Infrastructure Finance, against an earlier order issued by the tribunal.

Banks' prudential indicators have improved: Fitch report

The operating environment for Indian banks has strengthened as economic risks associated with the covid-19 pandemic have ebbed, Fitch Ratings said in a note on Wednesday.

Cello World files for ₹1,750 crore IPO

Mumbai-based pen manufacturer Cello World Ltd has filed a draft red herring prospectus (DRHP) with capital market regulator Sebi to raise funds through an initial public offering (IPO), according to a regulatory filing.

AI boosts returns for Norway's wealth fund

Norway's $1.4 trillion sovereign wealth fund returned 10%, or $143 billion, in the first half as demand for artificial intelligence (AI) and semiconductor components saw technology stocks rebound.

BHive to float new fund, closes debut vehicle after top exec quits

Bengaluru-based co-working space provider BHive said Wednesday it will wind up its maiden alternative investment fund following the departure of the fund manager and will instead raise a new vehicle.

India, Bangladesh plan to set up 16 border haats to increase trade

New Delhi and Dhaka are considering the establishment of 16 new border haats to increase the volume of trade between the two countries, according to Smita Pant, a senior diplomat in the Ministry of External Affairs.

'Russia could reintroduce FX controls'

An emergency 350-basis-point rate hike by the central bank, to 12%, seems to have only slowed the rouble slide

NRIs sent $112 bn home in FY23, most in 5 years

The US and the UAE held the top share in India's inward remittances

'Govt saved 12% on costs in Dwarka Expressway project'

CAG found that the elevated carriageway plan raised construction cost to ₹251 cr per km from ₹18.2 cr

China torpedoes Intel's bid to buy Tower Semiconductor

Intel scrapped its more-than-$5 billion offer to buy Israeli chip maker Tower Semiconductor after Chinese regulators failed to approve the deal in time, the latest sign of fallout from the U.S.-China battle over technology.

Protectionism to take centre stage at Dubai WTO meeting

A record number of World Trade Organization (WTO) members have raised concerns about rising protectionist moves in global trade, propelling the issue to centre stage at the 13th WTO Ministerial Conference (MC13) in Abu Dhabi in February, an official aware of the development said.

Critical mineral explorers may get revenue share over 50 years

Miners discovering critical and deep-seated minerals may be allowed a revenue share from the block over the entire 50-year lease period, two people aware of the plans said.

iPhone 15 local assembly begins as launch nears

Production of the iPhone 15, which is likely to be unveiled next month, has started at the factory of Apple’s contract manufacturer Foxconn near Chennai, two people familiar with the development said, the first time an Apple smartphone is being assembled in India before its international launch.

Adani family sells $1.1 bn power arm stake to GQG

The promoters of Adani Group on Wednesday raised around ₹9,000 crore by selling 8.1% of their holding in the energy-generation arm Adani Power Ltd, marking billionaire Gautam Adani’s largest equity capital-raising through a share sale in a single entity.

Sebi cracks whip on IPO promoter classification

The Securities and Exchange Board of India (Sebi) has intensified its scrutiny on promoter classification of companies looking to go public, with the markets regulator’s observations prompting at least six companies in the past three months to include individuals or entities as promoters, according to three people familiar with the developments and filings reviewed by Mint.

City buses, railway lines to get a boost

Cabinet okays e-bus, multi-tracking, digital projects worth ₹1.18 tn

AI, AI Express integration: Code Share, Route Recast

These steps are part of a strategy that includes the merger of AirAsia India and Air India Express, which will operate as Air India’s low-cost unit, offering budget flights on non-trunk routes

Crunch Time For Craft Beer As Pandemic, Fees Take Their Toll

Makers of Witlinger, Mad King and White Owl craft beers have either shut shop or started new ventures, while owners of Kati Patang, White Rhino and Beor 360 have scaled back their operations

Adani, Vi May Face Fines If They Fail 5G Minimum Rollout Rule

Vodafone Idea, Adani Data Networks yet to deploy any site; govt may not give extension

How Vegetables Became Inflation Villain Yet Again

Vegetables alone dragged up retail inflation by over 200 basis points

Four Discoveries That Can Change Our World

A series of major science findings in the last few weeks has excited scientists and doctors. Will it live up to the hype?