CATEGORIES

Exporters seek three-month transition time for new FTP

Exporters believe this will allow them to settle their existing contracts under the old policy

Borrowers cautious on new home loans

The home loan market is showing signs of a slowdown after the central bank’s steep repo rate hikes have caused potential borrowers to be cautious and made repayment harder for existing customers.

More worried for next year: Rogers

Jim Rogers, the Singapore-based American investor, said he’s more worried about next year than this year, as a widely anticipated recession is expected to hit some Western nations by the end of the current year.

'G20 will set the tone for WB, IMF reform'

As the world looks to India to champion the cause of the ‘global south’, India’s Sherpa to G20, Amitabh Kant, shares the progress and goals, including advocating for a comprehensive overhaul of the World Bank and International Monetary Fund. G20 officials met at the backwaters of Kumarakom, Kerala, for the second Sherpa meeting to address priority areas identified by India during its presidency. India aims to set an ambitious agenda for the G20 amid the current global turbulence of geopolitical and macroeconomic challenges. Edited excerpts from an interview:

Covid cases doubling in 4-5 days, says top expert

Covid-19 infections in India are doubling every 4-5 days, a top epidemiologist cautioned, indicating that the pandemic is still far from being under control despite the return of near normalcy across society and the economy.

Consumption shows signs of weakness as inflation bites hard

Automakers and consumer goods companies, including electronics retailers, fast food chains and apparel companies, reported subdued demand in March.

RBI may hike repo rate by 25 bps: poll

MPC is likely to keep the policy stance unchanged: economists

Govt may defer EV incentive-linked tests

Electric vehicle makers are expecting a six-month relief to obtain mandatory certifications under the ministry of heavy industry's (MHI) battery safety tests, industry people familiar with the matter said.

AMNS Luxembourg to raise $5 bn Japan loan

JBIC will lend $3 bn, the rest will be provided by MUFG Bank and others

Foreign travel turns summer favourite despite high fares

Many Indians are looking to travel to overseas for the summer holidays despite a 60-70% rise in airfare on several routes and delays in processing visas, industry experts said.

Core sector growth slowed in Feb, fiscal deficit at 83%

Poor show by core sectors will also impact industrial production data for the month

ICICI Sec to double wealth team, eyes $60 billion assets

The wealth management unit, a subsidiary of ICICI Bank, plans to double its team of around 350 relationship managers and roughly 100 virtual managers

Trump to be arraigned next week after his historic indictment

Donald Trump will be arraigned in the criminal case against him on Tuesday afternoon following his indictment Thursday, according to a person familiar with the matter.

IPL ad revenues drop as media rights get divided

As of 30 March, only ₹3,000 crore worth of deals have been inked, with ₹2,000 crore by Star Sports and the remaining ₹1,000 crore by Viacom18’s JioCinema OTT platform, according to a senior media agency executive.

Current account deficit shrinks in Q3 as trade balance improves

CAD narrowed to $18.2 billion in the December quarter of FY23 against a deficit of $30.9 billion in the preceding three months, showed Reserve Bank of India (RBI) data released on Friday.

Indian stocks soar as global contagion fear recedes

Large caps led Friday’s rally, with support from small and medium caps.

Oyo's confidential IPO filing targets up to $600 million

Oyo aims to sell new shares to raise $400 million-$600 million ( ₹3,285 crore- ₹4,927 crore) to repay debt and hopes to list before Diwali, the people cited above said on the condition of anonymity.

New FTP eyes $2 tn in exports by 2030

Trade policy seeks to support merchanting trade, e-commerce

Safe urban spaces for all shouldn't be a long haul

Swachh Bharat needs an urban boost. If everyone had access to clean toilets, it would serve as a hygiene factor in addressing our abysmal gender gap in paid workforce participation

$59 bn Swiss Franc debt mkt is up for grabs

For the past two decades, Credit Suisse Group AG dominated the business of arranging Swiss franc bond sales. Its sudden collapse presents an opportunity for the likes of Deutsche Bank AG and BNP Paribas SA in a market that saw $59 billion in deals last year.

Russia detains US journalist on spying allegations

An American journalist has been detained on suspicion of spying for Washington, Russia said Thursday, drawing immediate condemnation from the West and calls for the Wall Street Journal reporter's release.

Space design lab for startups opens in Ahmedabad

India has unveiled a state-of-the-art design lab in Ahmedabad to enable space sector startups to transform their innovative ideas into implementable models at a faster pace.

Schneider hires Sharma as MD, CEO

Schneider Electric has announced the appointment of Deepak Sharma as Zone president Greater India and MD & CEO, Schneider Electric India Pvt Ltd (SEIPL) effective 1 May 2023.

India, Lanka to build solar plant

India and Sri Lanka have agreed to jointly build in two stages a 135-megawatt solar power plant in the island nation's eastern port district of Trincomalee to promote renewable energy.

Vistara flies IndiaUS on blended fuel

Vistara on Thursday said it has operated a Dreamliner plane using fuel blended with Sustainable Aviation Fuel (SAF) from the US to New Delhi, becoming the first Indian carrier to fly on a long route using SAF.

UPI transaction fee: Do prepaid cards, wallets stand to lose?

The National Payments Corp. of India (NPCI), has introduced an interchange fee of up to 1.1% on merchant UPI transactions made via prepaid payment instruments (PPIs) like wallets and prepaid cards from 1 April. Mint takes a deep dive to explain what it means, and who will be impacted.

CVC, Advent, Bain in race to buy Porus Labs for about ₹2,500 cr

CVC Capital, International Advent and Bain Capital, among others have evinced interest in acquiring Porus Laboratories, said two people in the know.

AI completes rollout of Esops

The Tata Group has completed the rollout of the employee share benefit scheme for Air India, by allocating 98 crore shares to the airline's permanent employees. These shares represent about 3% of the airline's equity.

Merchandise imports could hit record $710 bn this fiscal

India’s imports now exceed its exports for 22 of its top 25 trading partners, including China

Nestle eyes $1 billion deal for 'Ching's Secret' owner in India

Nestle SA, the world's biggest food group, is among final bidders competing to acquire India's Capital Foods Pvt as it seeks to boost its presence in the fast-growing economy, people familiar with the matter said.