CATEGORIES

RBI fattens gold reserves as it braces for global uncertainty

The Reserve Bank of India (RBI) acquired about 10 tonnes of gold in the March quarter, placing it among the top five gold buyers in that period as central banks seek to diversify their reserves amid economic uncertainties, according to bullion market experts.

Engine troubles stall Go First's flight path

Airline files for bankruptcy amid ‘ever-increasing’ engine issues

Delhi airport to get full-body scanners, X-ray gear by Dec

Passengers flying out of the Delhi airport from January onwards are expected to face less congestion inside the terminal as the airport has decided to install five full-body scanners and high-end X-ray machines by this year-end.

OTTs struggle in telco partnerships despite revenue, reach

Telecom partnerships, which generate 50-70% of overall revenues of OTT platforms, have failed to live up to expectations amid subscription pressure.

Physics Wallah starts 50 new centres

Edtech firm Physics Wallah has rolled out 50 offline centres, which it brands as \"Vidyapeeth Centers\", with an investment of around ₹82 crore in technologies at these new units, a senior company official said on Monday.

'Nars stores to open by Sep'

Shoppers Stop Ltd plans to open standalone stores for premium beauty brand Nars Cosmetics by August-September, a top company executive said, after the department store chain partnered Japan's Shiseido earlier this year to bring the brand to India.

NDTV net profit drops 98% in Q4 as advertising demand weakens

Indian broadcaster Delhi Television (NDTV), part of the embattled Adani Group, posted a 97.6% plunge in quarterly profit on Monday due to weak advertising demand.

Electric scooter cos to refund charger cost to customers

India’s top four electric two-wheeler makers Ather Energy, TVS Motor Company, Ola Electric and Hero MotoCorp Ltd plan to refund customers for the chargers they shipped along with their e-scooters, invoiced above and beyond the cost of the vehicles, in order to qualify for government incentives that have been delayed for more than two months, people familiar with the matter said.

Cars stream out of factories, but not all find takers in April

At Maruti, enquiries for new products grew 7% in April, but bookings were below normal

Adani probe widens as Sebi checks bank a/cs

Regulator to scrutinize Adani entities' bank statements for 10-year period

On May Day, workers rally for better labour conditions

President Emmanuel Macron's pension bill unleashed France's biggest protests in years

Kotak Mahindra Bank may find it tough to maintain Q4 margin

Kotak Mahindra Bank saw healthy growth in March quarter (Q4FY23) net profit driven by expansion in net interest margin (NIM) and lower operating costs. Standalone net profit increased by 26% year-on-year (y-o-y) to around ₹3,500 crore.

Savour mfg PMI with a pinch of salt

The April manufacturing Purchasing Managers’ Index (PMI) survey brings good tidings. The month saw increased momentum in business activity by Indian manufacturers.

Foldable handsets ring in new era of premiumization

Amid muted demand for smartphones in India due to the global economic downturn, manufacturers are increasingly introducing foldable devices, despite the country’s preference for budget and mid-range handsets.

Professionals under the scanner for unethical conduct

The ministry of corporate affairs has taken a serious view of professionals who help companies incorporate by falsely certifying they have visited the premises of the intended registered office.

India unmoved by China LAC narrative

As the military standoff on the Line of Actual Control (LAC) enters its fourth year, India is in no mood to acquiesce to China’s recent efforts to promote a narrative that the situation in the Ladakh sector is stable and moving toward “normalised management\", people familiar with the matter said.

Gas prices up for industry, lower for hotels, unchanged for homes

The price of domestically produced natural gas has been set at $8.27 per metric million British thermal units (mmBtu) for May, up from $7.92 in April, the Petroleum Planning and Analysis Cell said.

Exports to UAE may hit a record $50 bn in 4 years

India’s exports to the UAE are expected to touch a record $50 billion by 2026-27 from $31.8 billion in 2022-33 amid a rise in the number of certificates of origin (COO) exactly a year after the implementation of a free trade deal.

India's manufacturing PMI hits 4-month high in April

PMI has remained above 50 for 22 months on the trot, signalling continued expansion

China builds 'black box' around economy

China’s party-state, long steeped in secrecy, is creating a black box around information on the world’s second-largest economy, alarming global businesses and investors.

₹2 tn recovery target for PSBs

India’s state-run banks face a stiff loan recovery target for this fiscal year: The finance ministry wants them to recover at least ₹2 trillion from the loans they have written off over the years, using all available avenues.

I Squared, Hinduja eye Fourth Partner

I Squared Capital and Hinduja Renewables Energy Pvt. Ltd are the remaining contenders vying to acquire TPG Capital’s majority stake in Hyderabad-based Fourth Partner Energy Pvt. Ltd at an equity value of about $350 million, two people aware of the development said.

First Republic Bank seized, JPMorgan to acquire assets

JPMorgan Chase & Co. agreed to acquire First Republic Bank in a government-led deal for the failed lender, putting to rest one of the biggest troubled banks remaining after turmoil engulfed the industry in March.

April kicks off with record ₹1.87 tn GST

India also reports highest single-day collection at ₹68,228 cr

BJP has plenty at stake in Karnataka elections

A victory could set its momentum for other state polls and expansion in the south, which remains a challenge. But it needs anti-incumbency to get trumped by opposition disunity

Is the amount gifted by your spouse taxable?

The definition of the word ‘relative’ for the said purpose includes spouse of the individual.

Poisonous gas kills eleven in Ludhiana

Eleven people, including three children, died allegedly after inhaling toxic gas in Ludhiana's thickly-populated Giaspura area on Sunday, with authorities suspecting that dumping of some chemicals in the sewer led to the noxious emission.

Modi, Biden to meet Pacific Islands' heads

US president Joe Biden and Prime Minister Narendra Modi will join Pacific Islands leaders next month for a \"historic\" future-oriented meeting, Papua New Guinea prime minister James Marape said on Sunday.

Rising prices, volumes may propel earnings recovery for steel makers

The strong steel demand in the domestic market is likely to support the performance of steel manufacturers during the March quarter.

'Maruti remains vulnerable to supply side bottlenecks'

Maruti Suzuki India remains \"vulnerable to supply side bottle-necks\" this fiscal even as it looks to source electronic components through multiple sources, according to a senior company official.