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PMLA case: SC dissolves bench after Centre seeks more time

DISSOLVING THE BENCH hearing petitions seeking reconsideration of its 2022 verdict that upheld provisions of the Prevention of Money Laundering Act (PMLA) and powers of the Enforcement Directorate (ED) under the 2002 law, the Supreme Court on Thursday decided to ask the Chief Justice of India (CJI) to constitute a new bench to hear the matter.

Nijjar vs Pannun: India's responses to US & Canada, why they are different

WITHIN HOURS OF the Financial Times report that the US thwarted a conspiracy to assassinate Khalistan separatist Gurpatwant Singh Pannun on American soil and issued a warning to India over concerns that it was involved in the plot, Delhi said it takes such inputs \"seriously\" and these are \"already being examined\" by relevant departments.

Crude oil imports flat in April-Oct, production dips

INDIA'S OIL-PRODUCING companies-Oil and Natural Gas Corporation (ONGC), Oil India (OIL), and various joint ventures - produced 15.9 million tonne of crude oil in April-October this financial year, down 3% on year, data from the Petroleum Planning and Analysis Cell showed.

More focus on MSMEs in new FTAs: Official

THE MEDIUM AND small enterprises are getting greater importance in the new free trade agreements (FTAS) that India is negotiating, a senior official said on Thursday.

More steps on cards to curb food prices

THE GOVERNMENT IS set to take a slew of measures to contain the stubborn retail food inflation, including through intervention in pulses markets, a senior official said on Thursday.

Funding HPCL: Govt to ask ONGC to weigh rights issue

Preferential share plan risked pushing ONGC’s holding below 50%

NBFCs seek risk weight review

THE FINANCE INDUSTRY Development Council (FIDC), the representative body of non-banking financial companies (NBFCs), has requested the Reserve Bank of India (RBI) to re-evaluate the sharp increase in risk weights on banks' loans to the sector.

Many global investors go slow on India pvt credit

PRIVATE CREDIT MAY be the buzz-word in the investing world, but many bulge bracket investors have remained tight-fisted as far as the Indian markets are concerned.

New law in the works to counter deepfakes

Social media firms asked for action plan in 10 days

Credit Card Spends Hit All-Time High

CREDIT CARD SPENDS rose 38.3% year-on-year (y-o-y) to an all-time high of ₹1.8 trillion in October aided by strong festival season spends. The growth witnessed in October was the highest in nine months.Spends rose 25.4% month-on-month (m-o-m), which is the highest in two years.

Volkswagen to hike wages for US workers

VOLKSWAGEN SAID ON Wednesday that it would hike salaries for production workers at its Tennessee-based Chattanooga assembly plant by 11%, weeks after the United Auto Workers union won significant pay and benefit hikes from the Detroit Three automakers.

Diplomatic thaw: India resumes e-visa facility for Canadians

ALMOST TWO MONTHS after it suspended visa services in Canada over its Prime Minister Justin Trudeau's allegation of a potential Indian link to the killing of Canada-based Khalistan separatist Hardeep Singh Nijjar, India resumed e-visa services for Canadian nationals on Wednesday.

A device that disrupts the mosquito breeding cycle

Eco BioTrap is easy to deploy and completely biodegradable

Jack Ma backs plan to trim stake after Alibaba share fall

ALIBABA GROUP HOLDING founder Jack Ma is walking back plans to trim his stake after the Chinese heavyweight commerce suffered its biggest selloff in more than a year last week.

Israel, Hamas agree to 4-day truce, 50 hostages to go free

The first truce was mediated by Qatar after nearly 7 weeks

OpenAI's new board counts Larry Summers among its ranks

LATE ON TUESDAY night, OpenAI announced the return of Sam Altman, its ousted CEO, along with a revamped board that included one name not often associated with Silicon Valley: Larry Summers

Fintechs may recalibrate business models

Fintechs are expected to recalibrate their business models in order to mitigate the impact of the latest Reserve Bank of India (RBI) circular on unsecured personal loans, say experts.

Banks expect marginal NIM moderation after RBI diktat

RBI was prompted to raise risk weights due to a rise in BNPL-type products, SBI chief said

Mamaearth's profit nearly doubles in Q2

HONASA CONSUMER, THE parent entity that owns beauty and personal care brand Mamaearth, posted a 93% yearon-year (y-o-y) jump in its net profit at ₹29 crore in July-September its first quarter following the initial public offering (IPO). Revenue from operations during the period grew 21% on year to ₹496 crore.

IndiGo to challenge tax demands worth ₹1,666 cr

INTERGLOBE AVIATION, THE parent of the country's largest airline IndiGo, on Wednesday said it will challenge tax demands worth over ₹1,666 crore

M&A activity falls to $14.58 bn in 2023, lowest in 12 years

Hit by a dearth of big-ticket deals, India’s merger and acquisition (M&A) activities fell 6.24 times to $14.58 billion in calendar year 2023 (YTD), its lowest in the past 12 years. While geopolitical developments have played their part, the deal-making scenario continues to be restrained for the rest of the year.

Tata Tech IPO off to a strong start, subscribed 6.5x

INVESTORS MADE A beeline for Tata Technologies' initial public offering (IPO) on Wednesday, the first day of subscription, with the issue being fully subscribed within the first hour.

Well-placed to ride multi-year capex boom: Adani Energy MD

Adani Energy Solutions has positioned itself well to ride the multi-year capex boom in the country. In an interview to FE, Anil Sardana, managing director of Adani Energy Solutions, said the transmission sector will see projects worth Rs 1.2-1.5.trillion being bid-out in the next couple of quarters.

Tunnel mishap: Expert call for scrutiny was ignored

THE CENTRAL GOVERNMENT ignored a recommendation that it conduct a formal environmental risk study on a highway tunnel project that collapsed and trapped 41 workers

CIL's coal despatches via Railways go up

COAL INDIA REGISTERED an increase of 13.6% in its coal despatches through Railways by transporting 31.48 million tonne of coal in October, as per the data provided by the coal ministry.The offtake was up by 7.2% from September.

Emerging areas to help meet $1 trn goods export target for 2030: DGFT

New and emerging areas like electronics, renewable energy, IT hardware and electric vehicles will be the key for India to get to the target of $1 trillion in merchandise exports by 2030, Director General of Foreign Trade Santosh Kumar Sarangi said Wednesday.

Mandi prices of most kharif crops ruling above MSP by up to 70%

AS ARRIVALS HAVE picked up, prices of kharif crops, namely tur, maize, soyabean, groundnut and cotton are ruling above minimum support price (MSP) by 3-68% at the agricultural produce marketing committee (APMC) yards across the country.

Modi calls for global Al regulation at G20 AI leaders' summit

PRIME MINISTER NARENDRA Modi on Wednesday told the leaders of the Group 20 (G20) block of large economies that they ought to work together for global regulation of artificial intelligence (AI).

India for tighter rules of origin

The review of Asean-India Trade in Goods Agreement (AITGA) will start with discussions on making the Rules of Origin (ROO) more comprehensive and detailed, as New Delhi is keen to remove the scope for exporters from third countries to exploit the preferential tariffs, a senior official said.

Altman returns to OpenAI

SAM ALTMAN WILL return to lead OpenAI less than five days after he was pushed out of one of the world's most valuable startups, setting off a shock back-and-forth drama that transfixed the global Al industry.