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Indian tariffs are not aimed at developed countries: Goyal

Developed countries have been impacted inadvertently by some Indian tariffs, commerce minister Piyush Goyal clarified in Brussels as he defended New Delhi's ICT tariffs that are the subject of a dispute with the EU.

Credit card used abroad to count as foreign remittance

The finance ministry has included use of credit resident within the $250,000 limit that an individual is allowed to remit abroad in a year under the liberalised remittance scheme (LRS), showed an official order.

Fertilizer sops to overshoot budget outlay by ₹50,000 cr

Cabinet clears the decks for subsidy of 1.08 trillion for 2023-24 kharif season

Govt purchases of rabi onion to start this week after delay

Procurement of rabi onion, which was supposed to begin from the second half of April, is likely to kick off this week, a delay attributed to the availability of inferior-quality rabi onion due to unseasonal rainfall and hailstorm during the harvesting season, according to two government officials.

India defends oil exports post EU's Russian fuel call

India’s External Affairs Minister S Jaishankar hit back on the European Union foreign policy chief Josep Borrell’s call for action on imports of Indian-refined oil with Russian origins.

Govt makes renewed push to boost hardware manufacturing

The Union cabinet on Wednesday approved a six-year production-linked incentive (PLI) scheme for IT hardware, including laptops, tablets, personal computers, servers and edge computing devices, with an outlay of ₹17,000 crore.

Ministry seeks ₹2.5K cr more to back exporters

The commerce ministry has sought an additional ₹2,500 crore to settle arrears related to its interest rate equalization scheme that aims to alleviate stress among exporters by compensating them for a portion of the interest they pay on loans.

SP, Hinduja group chairman, family patriarch, dies at 87

Srichand Parmanand Hinduja, (SP) chairman of the $70 billion Hinduja Group, who was deemed to be the family patriarch as eldest among the four Hinduja brothers, and a man whose life across India, Iran and the UK was dotted with success, controversy and tragedy, died in London on Wednesday after a prolonged illness. He was 87.

Sebi gets time till 14 Aug to complete Adani probe

SC calls for report on allegations of breach in minimum public shareholding

Vodafone to cut 11,000 jobs

The job cuts are the biggest in the history of Vodafone, which employs 90,000 people directly across Europe & Africa

IMD predicts monsoon onset on 4 June, Skymet sees 7 June

Crucial southwest rainfall starts its journey from the Kerala coast normally on 1 June

PESB fails to select suitable candidate for top role at IOC

Government headhunter PESB on Tuesday did not make any recommendation for the next chairman of India's largest oil company, Indian Oil Corporation (IOC), after interviewing 10 candidates including Chennai Petroleum Corporation Ltd (CPCL) managing director Arvind Kumar.

Airtel's net profit soars 49% in March qtr

Telecom operator Bharti Airtel on Tuesday posted a 49.2% jump in its consolidated net profit to ₹3,005.6 crore for the January-March quarter of 2022-23 on the back of new 4G customers and strong growth in average revenue per user (Arpu). The company had recorded a net profit of ₹2,007.8 crore in the same period a year ago.

Future Retail's related party operational dues nearly 25%

Future Retail has received claims worth ₹9,306 crore from operational creditors under IBC

WhatsApp to remove mobile nos used for fraud: Vaishnaw

Centre is also in conversations with other messaging platforms to remove fraudulent users

Inox Air plans to tap markets for green hydrogen business

Inox Air Products Ltd, India’s largest manufacturer of industrial and medical gases, plans to tap the equity market to finance an expansion into green hydrogen, a top executive said.

NSE listing process still to get Sebi nod

NSE is still waiting for Sebi approval for its listing process, the bourse's MD & CEO Ashishkumar Chauhan said during a concall after the release of its Q4 results.

Indian Hotels raises the bar a little amid good momentum

The Indian Hotels Co. Ltd (IHCL)'s progress towards its goals set under the Ahvaan strategy 2025 is encouraging. The FY23 margin is near the target.

BoB ends FY23 on a strong note

Public sector lender Bank of Baroda’s (BoB) March quarter (Q4FY23) earnings performance was an all-round show. Profit after tax more than doubled year-on-year to ₹4,775 crore, beating consensus estimates. Net interest income (NII) rose almost 34%, aided by strong credit growth momentum.

Shadowfax taps Newquest for $30 mn

Shadowfax Technologies Ltd is in early talks with Newquest Capital Partners to raise $30 million, three people aware of the matter said. The new-age logistics services provider is seeking a $400 million-450 million valuation.

How Airpay fought for survival and triumphed

It made a pivot, reorganized business and grew amid the pandemic

Indonesia in talks with Indian firms for big-ticket infra investments

Indonesia's government has been in talks with Indian infrastructure firms to develop key projects in the Southeast Asian nation, according to persons aware of the matter.

Merger approvals for startups, small businesses fast-tracked

The ministry of corporate affairs has made it easier for small companies and startups to secure the green flag for mergers by way of 'deemed approvals'.

Highway construction falls again, gets off to a poor start in FY2024

Highway construction in April fell 75% sequentially to just over 500 km, according to data from the ministry of road transport and highways, marking a poor start to the government’s road-building target for the year.

India cites EU steel tariff to defend its electronics duty

A compromise in Brussels could see matter taken out of hands of the WTO dispute panel

RBI to take up dividend payout plan on Friday

The Reserve Bank of India's board will meet on Friday, when it is expected to consider a dividend payout to the government, according to people with knowledge of the matter.

Govt names Ravneet Kaur as CCI chief for five years

The central government has named Ravneet Kaur as chairperson of the Competition Commission of India (CCI), two people familiar with the development said, citing an official order.

Tesla execs to meet Indian officials for local sourcing talks

A group of senior Tesla Inc. executives plan to visit India this week to meet with government officials in a fresh bid to deepen the carmaker's supply chain in the country as it pushes to diversify beyond China.

Global chip giants eye India presence

Announcements in this regard are likely to happen soon

Zelensky meets Sunak; wins more arms in Europe

Ukraine on Monday hailed its first substantial battlefield advances for six months as president Volodymyr Zelensky won pledges of new long-range drones in Britain to add to a haul of Western arms for a counteroffensive against Russian invaders.