CATEGORIES

RBI joins central bank gold rush, buys 9 tonnes in Jul-Sep

The Reserve Bank of India (RBI) purchased nine tonnes of gold in the September quarter, contributing to the 337 tonnes purchased by global central banks, and underscoring the importance of gold as a diversifier of its total reserves.

IT cos pray for succour in H2

Information technology (IT) stocks seem to be garnering renewed interest with the Nifty IT index rising 6% so far in November. The better-than-expected October US CPI inflation data has raised hopes that the US Federal Reserve’s rate hiking cycle is nearing its end. If this hope materialises then it should come as a boost especially to the banking, financial services, and insurance (BFSI) sector—a key revenue generator for Indian IT companies.

'Govts should access the best tech, not reinvent the wheel'

Countries aspiring to build large language models from scratch may risk falling behind: Nadella

WORLD CUP: INDIA'S TALISMAN AGAINST NEGATIVITY, HATE

The bursting of firecrackers till late on Diwali night in the national capital—a Supreme Court-imposed ban notwithstanding—continued to distress environmentally conscious individuals this year, too. According to some pollution measuring agencies, the air quality index of Delhi and National Capital Region had peaked at 999, even as official figures were indicating something else.

Germany's KfW Bank plans to finance India's marquee 10K EV bus plans

Germany’s state-owned development bank KfW is in discussions with New Delhi to finance India’s ambitious electric mobility scheme. In August, the Union cabinet approved a ₹57,613-crore scheme to introduce 10,000 electric buses in 169 cities.

Research in rare earths mining to get grants

The government will offer grants of ₹5 crore to startups and ₹10 crore to incubators in order to facilitate research and development in the mining of critical and rare earth minerals.

Govt weighs relaxations for underground coal miners

Centre is considering measures like 50% exemption in revenue sharing with states

Rising fares clip revenge travel wings

The days of revenge travel and pent-up demand driving air traffic in India seem to be over. Data from Indian civil aviation regulator Directorate General of Civil Aviation (DGCA) suggests that the festive months are seeing a slowdown in air travel growth, which experts attribute primarily to higher fares. Data from travel portals suggests that airfares are up by 30-40% from the levels in December 2022.

Investors try to get Altman back

OpenAI's investors are making efforts to bring back Sam Altman, the chief executive officer who was ousted Friday, the latest development in a fastmoving chain of events at the artificial-intelligence company behind ChatGPT.

City gas regulator plans to open sector for competition

Consumers may soon have the power to choose between multiple operators of piped natural gas (PNG) and compressed natural gas (CNG) fuelling stations in different markets, where single operators have been operating so far without competition.

Flood of tech IPOs to hit Street after elections

Investors are keenly awaiting five initial public offerings (IPOs) this week, including the much anticipated one of Tata Technologies Ltd. That, and those of the Indian Renewable Energy Development Agency, Fedbank Financial Services (Fedfina), Flair Writing Industries and Gandhar Oil Refinery are expected to raise over ₹7,300 crore collectively.

Direct foreign IPOs to have no-go areas

Caution in line with govt's previous move on angel tax relief

Restaurants, bars pad up for World Cup this Sunday

Spirits are soaring in the restaurant industry as India takes on Australia in the highly anticipated cricket World Cup final at Ahmedabad on Sunday. Bars and breweries are particularly excited, with some of them expecting sales to be double that of regular Sundays.

Xi's warm words jar with reality for foreign firms in China

Xi Jinping's message that China wants to roll out the red carpet for foreign businesses stands in stark contrast to the increasing difficulties many companies experience on the ground.

Modi condemns death of civilians in West Asia war

Prime Minister Narendra Modi on Friday made plain his views on the ongoing conflict between Israel and Hamas, stating India strongly condemns civilian deaths arising from the devastating war. Speaking at the second edition of the Voice of Global South Summit in New Delhi, which saw leaders of Mauritius, Bangladesh, Indonesia, Ethiopia, Kenya and Kyrgyzstan, among others, in attendance, Modi said:

Bills for GST appellate tribunals, spending likely in winter session

The government proposes to introduce two key bills in the upcoming winter session to pave the way for goods and services tax (GST) appeals tribunals and to seek permission for changes in its spending plans, two people aware of the plans said.

Radiance mandates Rothschild to sell platform

Eversource Capital-backed Radiance Renewables Pvt. Ltd has mandated Rothschild & Co. for the sale of the platform that serves commercial and industrial (C&I) customers in a deal having a potential equity value of about $150 million, two people aware of the development said. Radiance currently has an operational portfolio of 500 megawatts (MW), and plans to build capacity to 2 gigawatts (GW) over three years.

Centre nudges 112 top firms to sign up for 'right to repair'

The government has asked 112 companies across electronics, farm equipment, automobiles, and white goods sectors to ensure that consumers enjoy the right to repair their products, a top official said. The move aims to tackle the corporate malpractice of making products artificially obsolete.

Lenders take heat as RBI cracks whip

Capital requirements to raise interest, curb consumption loans

HC stays proceedings in Munjal case

The Delhi high court on Friday stayed the proceedings against Hero MotoCorp chairman Pawan Kant Munjal in a money laundering case being probed by the Enforcement Directorate (ED).

DRI seeks to restart stalled Adani coal import probe

Investigators are seeking to restart a probe into Adani group for alleged overvaluation of coal imports and have asked the Supreme Court to allow them to collect evidence from Singapore, a step they say the company thwarted for years, legal documents show.

Tata Tech sees future demand in EV, aviation

IPO-bound Tata Technologies expects a bump in demand from Tata Group anchor clients Jaguar Land Rover (JLR) and Tata Motors in the near term, Warren Harris, chief executive of Tata Technologies Ltd said in an interview. The company though will continue to diversify revenue sources to other companies and segments over time.

Nexus Select pushes food, entertainment space

Nexus Select, a retail real estate investment trust (Reit) with 17 premium malls across India, plans to allocate more space to restaurants and entertainment zones over the next three years, catering to a growing demand for dining out and leisure experiences.

'India to grow pharma sector to $200 billion by 2030'

The government aims to grow the pharmaceutical industry by about four times to $200 billion by 2030, Arunish Chawla, secretary, department of pharmaceuticals, said on Friday.

Tap climate action as opportunity for innovation: Goyal

Commerce and industry minister Piyush Goyal stressed the need for formulating a strategy for climate action to turn it into an opportunity for innovation and growth.

Cloud U-turn costs Alibaba $20 billion

Investors wiped out some $20 billion off Alibaba Group's market value on Friday after it scrapped plans to spin off its cloud business, citing uncertainties over US curbs on exports to China of chips used in artificial intelligence (AI) applications.

Gaza writhes as UN stops aid supplies

Communications in the Gaza Strip were down for a second day

Resistance to Global South: Jaishankar

Resistance to Global South: Jaishankar

'DPI resources can be shared'

India willing to help global south advance financial inclusion and productivity gains, says Ajay Seth

OBJECTIFYING EVERYDAY

A nondescript building in the Information Technology Park in Gurugram, Haryana, is home to one of India’s most popular design and accessory startups. Only an immensely missable, standard nameplate-sized black-on-white “DailyObjects” sign on the building wall confirms this. Similarly minimalistic and utilitarian, the ground floor of this four-floor 50,000 sq. ft space is a large open office with a line of long wooden tables with chairs, a few big-windowed glass cabins along its sides, and a corner with a coffee machine and snacks.