CATEGORIES

Lower penalties for smaller miners soon

In yet another reform measure, the Centre plans to ease penalties in mineral concessions for small and medium miners for a range of offences.

Govt to reduce Bharat Atta price by ₹2/kg in festive sop

All-India average wheat flour prices have increased 4.1% this year to touch ₹35.84 per kg

Karnataka eyes $3 bn for chip, related biz

Karnataka information technology minister Priyank Kharge said the K state aims to corner investments worth $2.8-3 billion in the semiconductor-related electronics manufacturing sector, converting at least 50% of them by March 2024.

Zurich to buy 51% in Kotak gen insurance for ₹4,051 cr

Zurich Insurance Co. Ltd on Thursday marked its India entry by agreeing to buy a majority stake in Kotak Mahindra General Insurance in the single-largest investment by a global strategic insurer in an Indian non-life insurer.

India Inc to roll out 9-10% hike, focus on retaining talent

India Inc. is expected to offer median increments of 9-10%, with macroeconomic pressures pushing companies to be more prudent. Consulting companies, such as Aon, Deloitte, and WTW, which determine corporate compensation across sectors, expect manufacturing, engineering, retail, and pharmaceutical sectors to offer marginally higher salary hikes and the IT sector to bear the brunt of reduced budgets.

TCS challenge: Filling a $450mn order void

Changes at Deutsche Bank, Nielsen, Transamerica may hit TCS

Why ESG Norms Are Unnerving India Inc

Companies seem unprepared. However, they have little choice but to embrace the rules

Income Tax Returns Hit Record 76.5 Mn For AY 2023-24

The number of income tax returns (ITRs) for assessment year (AY) 2023-24, filed by 31 October, stood at a record 76.5 million, up 11.7% from the comparable period of the previous year, the Central Board of Direct Taxes (CBDT) said on Wednesday.

Gaza Sees Its First Evacuations

Hope sparked by temporary opening of Rafah border crossing snuffed out by fresh strike on refugee camp

Apple, Govt Set Up Tech Teams To Probe 'State-Sponsored Attack'

Apple and the central government have set up technical teams to examine messages that the tech giant sent to several opposition politicians and journalists warning that their iPhones may have been targeted for “state-sponsored attacks", said a top official, asking not to be named.

Something must be done about discontent bared by journalists

Their well-being is important but a survey reveals gloom among many of them over the future of media and their careers

A steep duty drop could rev up India's EV market

There may be hope for a resolution in negotiations between American EV-maker Tesla and India’s government.

How Trigger SIPs can affect your investment strategy

These may not be as effective unless the incremental capital invested is significant enough

Above 97% of ₹2k notes returned: RBI

Reserve Bank of India (RBI) on Wednesday said that more than 97% of the ₹2,000 bank notes have been returned to the banking system and about ₹10,000 crore worth of the notes are still with the public.

India, Sri Lanka restart talks for economic, tech co-op deal

After a 5 year hiatus, India and Sri Lanka re-launched talks on the economic and technology cooperation agreement (ECTA).

GAIL, BPCL sign 15-yr propane pact

State-run GAIL and has signed an agreement with another public sector major Bharat Petroleum Corporation Ltd (BPCL) for 15-year supply of propane for its upcoming petrochemical plant in Usar, Maharashtra.

Ambuja Q2 profit up nearly fivefold

Ambuja Cements on Wednesday missed quarterly revenue estimates after higher prices damped sales volumes.

'Expect improvement barring macro shocks'

Saffola cooking oil maker Marico Ltd expects household demand to improve in the second half of FY24, provided no major global headwinds impact the commodity cycles. On Monday, Marico reported a 3% jump in domestic volumes for the September quarter. Demand for fast-moving consumer goods was broadly in line compared to the preceding quarter, the company said. In an interview, Marico’s managing director and chief executive Saugata Gupta said the urban markets continued to outperform rural for the food and personal care firm, but he expects a gradual recovery in rural demand in the coming months. Edited excerpts:

In Mumbai's Jio World Plaza, a new destination for luxury

The Reliance group on Wednesday opened the country's largest luxury mall, Jio World Plaza, in Mumbai, seeking to redefine luxury in the heart of the city.

Schneider plans new battery tech in India

Schneider Electric India is looking to expand its battery manufacturing portfolio and develop newer technologies and chemistries for batteries.

Hero MotoCorp Q2 profit jumps 47.6%

Hero Motocorp posted a net profit of ₹1,054 crore in the second quarter of fiscal year 2023-24, which is 47 percent higher as compared to ₹716 crore reported in the year-ago period, as per the financial results declared by the company on November 1.

'Airtel to reduce spectrum auction budget for 2 years'

The telco reported a 38% drop in net profit to ₹1,341 crore for the quarter ended 30 Sep

Jindal Steel investors' worries go beyond a disappointing Q2

Investors in Jindal Steel & Power Ltd stock have more to worry about than just the forgettable September quarter (Q2FY24) results. The chief problem areas are further delays in capacity expansion and a rise in capital expenditure (capex) guidance.

L&T orders shine, but margins dull

Larsen and Toubro Ltd’s (L&T) September quarter (Q2FY24) was characterized by healthy revenue growth and a stellar order pipeline.

DeepMind chief defends AI warning

DeepMind co-founder Demis Hassabis hit back against criticisms from Meta Platforms Inc.'s chief artificial intelligence (AI) scientist who had criticized him and others in the industry for playing up the existential risks of the technology calling them preposterous.

SAP launches gen AI tools for developers

German enterprise software firm SAP on Thursday launched a series of generative artificial intelligence (AI) tools and extensions for its enterprise resource planning (ERP) software suite, SAP Business Technology Platform. However, the company is yet to decide on a pricing strategy for its generative AI capabilities—some of which are not only expensive to build, but can also be costly to run and maintain.

India may resume buying Venezuela oil

Indian refiners are likely to import crude oil from Venezuela at a discounted rate after the US eased sanctions on oil from the Latin American country, according to a report by S&P Global Commodity Insights.

India, Bangladesh open rail link, power, port projects

Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina on Wednesday launched three India-assisted development projects, two of which are expected to boost trade and improve connectivity with the Northeastern states.

After a boom and bust, the chip industry is regaining health

The global semiconductor industry is bottoming out, executives say, signaling a rebound in some areas of technology and providing relief for the U.S. government, which is spending billions on expanding chip production.

Young more comfortable with credit than older gen

India's borrowers are getting ever younger, with more people taking out their first loans in their mid-20s, a new study showed.