CATEGORIES

Minimal impact of El Nino on rainfall: IMD DG Mohapatra

The impact of El Nino on this year’s monsoon will be minimal, said Mrityunjay Mohapatra, director-general of India Meteorological Department (IMD).

SBI seeks oil data to avoid sanction risk

Given its large exposure to the US, SBI aims to avoid penalties

India, China To Speed Up Resolution Of Standoff

The Chinese defence ministry said that top military officials of India and China during their latest round of talks have agreed to "speed up" the settlement of "relevant issues" related to the prolonged standoff in eastern Ladakh besides safeguarding peace in the border areas.

India seems unable to match China on technocratic talent

The world’s newest most populous country faces steep challenges

Govt sees risks to growth amid OPEC cuts, El Nino concerns

The finance ministry on Tuesday flagged the downside risks to the official forecast of 6.5% economic growth rate in FY24 arising from oil production cut by the OPEC, troubles in the financial sector in developed markets impeding cash flows and elevated risks to the monsoon rains from El Nino which could impact farm output and prices.

Britain set to adopt new legal powers to take on Big Tech

Britain is bringing in a new law similar to European Union in a bid to counter the dominance of big tech companies like Google, Amazon and Facebook

Centre works to fix airport crowding as air travel soars

Plan to ease rush with more screening points, digitalized pre-queuing, and limited flights

Govt beefs up telecom infra in border areas

The telecom dept has increased infra spending to ensure connectivity

SK Finance to raise ₹410 cr from FMO

Private equity-backed non-bank lender SK Finance (formerly Ess Kay Fincorp) is set to raise $50 million (around ₹410 crore) from Dutch development finance institution FMO.

PE firms eye digital tech biz MediaMint

Founded in 2010, MediaMint has previously never raised capital. It has over 1,300 employees and offers video and mobile advertising services to advertising agencies, publishers, and platforms, according to its website.

Cement makers' quest for market share could last beyond Q4

Despite robust demand and higher industry clinker utilization in FY23, elevated competitive intensity across regions has prevented margin-accretive price hikes (in Q4).

Nestle needs a margin sweetener

The company’s operating revenue grew by 21% year-on-year (y-o-y) to ₹4,831 crore in the last quarter, surpassing analysts’ expectations.

Quality control for footwear being enforced too early, say retailers

Bodies representing large footwear retailers also want their existing inventory — procured or manufactured before the quality control orders (QCO) — to be exempt from the mandatory qualiity certification.

Module quality norms to be tightened

The move involves tightening the norms under the approved list aimed at ensuring compliance

India to seek easier visa rules in UK FTA

India intends to persist in advocating for relaxed visa regulations for skilled professionals hired by its companies investing in the UK, as it seeks to complete a free trade agreement (FTA) with the UK by the end of 2023.

Govt directs data check as roads miss target for 2nd yr

In FY22, 10,457 km of highways were built against a 12,000 km target due to the pandemic

Biden opens '24 bid, with possible Trump rematch

President Joe Biden formally announced that he would seek re-election in 2024, readying a historic campaign against a Republican field dominated by his predecessor while economic uncertainty clouds his case for a second term.

Frauds will persist, need effective controls: MCA

The Serious Fraud Investigation Office (SFIO), which increased its capacity in FY23, completed 23 investigations during the year, up from 13 in the year before, the ministry of corporate affairs (MCA) said, adding the government was committed to combating fraud

Block deals hit record as PES guard returns in rough Street

The combined value of block deals hit a record ₹1.87 trillion in FY23, up 63% from the preceding fiscal year, shows data compiled by Prime Database

Serum arm to double investment in Biocon unit

This is an addition to Serum’s previous investment in November 2022, when it invested $150 million for a stake in the biosimilar subsidiary.

IndiGo in talks to buy 20 wide-body planes for int'l ops

For IndiGo, another 480 jets, largely narrow-body aircraft and some turboprop jets, are in the pipeline

RBI may scrutinize Kotak's board term

Bank shareholders okayed his board role after MD term ends

Pvt Hospitals Go Slow On Booster Jabs Even As Covid Cases Increase

Many leading private hospitals have stopped offering booster doses in response to a reluctance among the general public to take the jab despite a surge in cases of covid-19

The US Mustn't Forget Lessons Taught By Its Opioid Epidemic

Authorities must act against drug addiction before it turns deadly

We need public figures to warn of Ponzi scams

In the virtual world of finance, every step is fraught with risk for ordinary folks

Credit Suisse saw $69 bn outflows in Ql

Credit Suisse Group AG reported 61.2 billion francs ($69 billion) of outflows in the first quarter and took a large writedown at its wealth management unit, underscoring the challenge for UBS Group AG in retaining key clients and assets after the emergency takeover of its biggest rival

JSW in talks to buy 15% in MG Motor India

MG Motor India, the local arm of SAIC-owned automaker Morris Garages, is in advanced talks to sell close to a 15% stake to Sajjan Jindal-led JSW Group, with a roadmap to list the company on Indian exchanges via an initial public offering, people familiar with the discussions said

India's rollout of 5G at warp speed: Verizon

US-based telecom giant Verizon sees India among its critical markets in the Asia Pacific region, as the South Asian nation rolls out 5G networks at a frenetic pace, said Robert Le Busque, regional vice president of Asia Pacific for Verizon Global Enterprise.

Telcos unlikely to raise tariffs until 2024 general elections

Telecom operators are unlikely to raise tariffs in the current fiscal year due to intensifying competition in the postpaid segment and looming general elections, weighing on average revenue per user (ARPU), according to analysts and industry insiders, who expect price hikes to now happen only in FY25

Cement firms get a grip on profitability, but not price

Competition is up with the addition of new capacity, but cooling input costs have helped