CATEGORIES

New Bill addresses industry concerns

Four clauses flagged in original draft dropped

Payment security system in the works for EVs

TO EASE THE availability of finance for e-mobility adoption, the Centre plans to roll out a payment security mechanism, a senior government official said on Thursday.

Steps to ease domestic supplies of wheat soon

FCI TO CONTINUE OPEN MARKET SALE TILL PRICES FALL | Cut in import duty, tighter stock limits under consideration

PLI 2.0 for specialty steel on the cards: Steel secretary

STEEL SECRETARY NN Sinha on Thursday said that the proposals for the second edition of production linked incentive (PLI) scheme for specialty steel are ready and once approved is likely to get a good response from the industry.

India's GDP growth to average 6.7% from FY24 to FY31: S&P

'CAPITAL ACCUMULATION TO BE DOMINANT DRIVER' | Nominal GDP to double to $6.7 trn during the period

Zomato serves up a profit, finally

EXPECTS ALL UNITS TO TURN PROFITABLE BY FY24-END

Services PMI climbs to 13-year high in July

INDIA'S SERVICES SECTOR weathered the global headwinds to grow at the fastest pace in over 13 years in July, boosting hopes that the buoyant sector-would give solid support to the economy in the current quarter.

Ambuja buys 56.74% in Sanghi Cement at ₹5,000 cr

AMBUJA CEMENTS, NOW part of the Adani Group, has entered into an agreement to acquire a 56.74% stake in Sanghi Industries (SIL) at an enterprise value of ₹5,000 crore. The company will fund the acquisition through its internal accruals.

Temasek to invest ₹1,200 cr in Mahindra's EV business

GLOBAL INVESTMENT FIRM Temasek will invest ₹1,200 crore for a stake in Mahindra Electric Automobile (MEAL), the passenger electric four-wheeler company of tractor and SUV-specialist Mahindra & Mahindra (M&M).

Import curbs imposed on PCs, laptops

MOVE 'ILL-TIMED': INDUSTRY | To boost local manufacturing

Musk's X Challenges Court Ruling On Content Blocking

SOCIAL MEDIA PLATFORM X is seeking to quash an Indian court ruling that it was not compliant with federal government orders to remove content, arguing it could embolden New Delhi to block more content and broaden the scope for censorship.

Reliance Retail to make value store foray with Yousta

AS GROWTH PROSPECTS BECKON

Ex-Infy exec to join Canada firm as CEO

CANADA-BASED CAAS (Communication as a service) provider Sangoma Technologies Corporation announced the appointment of Charles Salameh, former senior vice president of Infosys, as the company's new CEO and member of the board of directors, effective September 1.

Vedanta promoter to sell stake worth $500 mn

VEDANTA GROUP PROMOTER Twin Star Holding is planning to sell a 4.3% stake in Vedanta Ltd to raise up to $501 million (₹4,136 crore) for debt repayment.

IOB net up 28% at ₹500 crore

HIGHER INTEREST INCOME & ROBUST LOAN RECOVERY

Credit downgrade sparks criticism

FITCH RATINGS' DOWNGRADE of US government debt sparked criticism from Washington and Wall Street even amid unease that swollen fiscal deficits risk eventual turbulence in markets, the economy and next year's presidential election.

Russian drones hit Danube port key to Ukraine grain exports

RUSSIAN DRONES STRUCK a Ukrainian port on the Danube River, driving global wheat and corn prices higher as Moscow continues its campaign to cripple Kyiv's ability to export food.

Trump indicted for bid to overturn 2020 poll defeat

DONALD TRUMP HAS been indicted on four counts by a federal grand jury for plotting to overturn his 2020 election defeat, the third time this year the former US president has been criminally charged as he seeks to retake the White House in 2024.

Affordable home buyers paying 20% higher EMI

THE EQUATED MONTHLY installments (EMI) of affordable home buyers rose 20% in the last two years, a report from Anarock research showed on Wednesday.

Sebi to simplify proposals on mutual fund fee structures

CAPITAL MARKETS REGULATOR Securities and Exchange Board of India (Sebi) will put forth two options to water down its earlier proposal to levy a standard investor fee on mutual funds, to limit the impact on the profitability of the ₹44.3 ($537.75 billion) asset management industry, two sources with direct knowledge of the matter said.

Small, mid-sized NBFCs may see higher PE investments

STRONG LOAN GROWTH AND IMPROVED ASSET QUALITY

Carlyle set to acquire 5.91% Spicelet stake

LOW-COST CARRIER SPICEJET has sought the approval of shareholders to allow Carlyle Aviation Partners to convert a portion of its dues into a 5.9% stake in the airline at ₹48 per share.

IndiGo Q1 profit at record ₹3K cr

Best-ever quarterly figure also higher than its annual profit ever

Adani closes in on Sanghi deal, first since Hindenburg report

6.1 MTPA addition to Ambuja in line with group's long-term target

Sugar output in 2023-24 3.4% lower at 31.68 MT

THE SUGAR PRODUCTION is estimated at 3.41% lower at 31.68 million tonne (MT) in the next season (October-September) compared to 2022-23 season because of higher diversion of sugarcane for ethanol production, Indian Sugar Mills Association (ISMA) on Wednesday said.

Centre to review PLI schemes today

To discuss steps to boost effectiveness

No duopoly as telecom will remain a four-plaver market: Chandrasekhar

MINISTER OF STATE for IT and electronics, Rajeev Chandrasekhar on Wednesday ruled out any chances of a duopoly emerging in the telecom sector, stating that there will always be four players in the market, including the state-owned BSNL.

Agri exports dip 14% to $6.23 billion in Q1

ONLY FRESH F&V SEE GROWTH IN SHIPMENT

US downgrade jolts markets

India VIX spikes 10%, highest since March 13

GST Council gives some relief to e-gaming firms

New tax regime from October 1, review after six months