CATEGORIES

India releases 2nd tranche of INR 5 billion to Bhutan

India has recently disbursed the second tranche of Rs 500 crore to Bhutan, marking a significant step forward in their collaborative efforts towards the development of infrastructure linked to the GyalSung Project.

China assures Sri Lanka of support in debt restructuring

Chinese Premier Li Qiang has extended support to Sri Lankan Prime Minister Dinesh Gunawardena in Colombo’s endeavor to restructure its debt, aiming to resuscitate its floundering economy.

ONLY 2-3% RECOVERED FROM $2-3 TN ANNUAL ILLEGAL TRADE THROUGH BANKING: INTERPOL

However, Stock highlighted the enormity of the challenge, noting that between 40% and 70% of criminal profits are reinvested, perpetuating the cycle of illicit financial activity

IndiGo Eyes Doubling in Size by 2030 with Global Expansion

IndiGo, India’s largest airline, is set to embark on an ambitious journey to double its size by 2030, according to Pieter Elbers, the airline’s chief.

Baltimore bridge collapse disrupts global coal trade, Moody's

Following the collapse of Baltimore’s Francis Scott Key Bridge on Tuesday, Moody’s Analytics has released an analysis spotlighting potential disruptions in the global coal market.

INDIA'S INVESTMENT RATE EXPECTED TO SURGE TO 36.2% OF GDP BY 2026-27, REPORTS MORGAN STANLEY

The Indian government’s interim budget for fiscal year 2024-25 proposed an 11.1% rise in capital expenditure to Rs 11.11 lakh crore, aimed at enhancing long-term physical assets

Nearly 83 per cent of jobless Indians are youth, says report

According to the India Employment Report 2024 published by the International Labour Organisation (ILO) and the Institute of Human Development (IHD), unemployment continues to pose a significant challenge for India’s youth, with nearly 83 per cent of the unemployed population aged under 34.

India has 247 MN households with multiple income sources: Report

India has 247 million ‘entrepreneurial households’ with a Core Transaction Value, or CTV, of $8.8 trillion as of 2022-23, according to a recent study by consulting firm Praxis.

MAHA, UP SPEARHEAD INDIA'S POSTPANDEMIC GROWTH: SBI REPORT

On the Gross State Domestic Product (GSDP) front, Gujarat has notably doubled its economic output, marking a 2.2 times increase over the last decade

FM defends Atal Pension Scheme, highlights guaranteed returns

Finance Minister Nirmala Sitharaman defended the Atal Pension Yojana (APY) against Congress criticism, asserting its design based on choice architecture and a guaranteed minimum 8% return.

Nissan targets growth in India with launch of 3 all-new vehicles by FY 2026

Japanese automaker Nissan Motor Co Ltd has unveiled “The Arc,” its new business plan aimed at driving value and enhancing competitiveness.

CCI procures over 32 lakh cotton bales at MSP in 2023-24 season

The Cotton Corporation of India (CCI) reported its procurement of 32.81 lakh bales of cotton during the ongoing 2023-24 season, primarily sourced from Telangana, Andhra Pradesh, Maharashtra, and Gujarat.

GOVT TO BORROW RS 7.5 LAKH CR FROM MARKET IN H1FY25

This is 53.08 per cent of its gross market borrowing of Rs 14.13 lakh crore projected for FY 2024-25 in the Union Budget

SBI Life organizes breast cancer awareness programme for women officers of Mumbai Police

Taking cognizance of the trials and tribulations of the women in police, SBI Life on the occasion of 'International Women's Day', organized a Breast Cancer Awareness Programunder its 'Thanks-A-Dot' initiative for the women officers of Mumbai Police, in association with Lion's Club. The hardships faced by police personnel is exponentially elevated in case of the women officers, who often end up neglecting their own health to balance the call of duty and household responsibilities.

Week after 21-year-old Palghar woman committed suicide, boyfriend booked for abetment

A week after a 21-year-old woman from Maharashtra's Palghar district was found hanging, the man with whom she was in a relationship has been booked for abetment of suicide, police said on Monday.

50 rescued after fire erupts at corporate park; no injuries: Officials

Nearly 50 people were rescued after a fire erupted in a six-storey corporate park at suburban Mulund in Mumbai on Tuesday morning, officials said. Those rescued had been stranded on various floors of the smoke-filled building, where the fire started around 9.25 am, a civic official said.

Mumbai surpassed Beijing to become Asia's billionaire capital: In world's top three

The Hurun Global Rich List for 2024, released on Tuesday, revealed shifts in the wealth landscape, with Indian tycoons Mukesh Ambani and Gautam Adani making headlines for their remarkable gains.

MINOR BOY ALLEGEDLY FORCED TO CHANT RELIGIOUS SLOGAN IN THANE, POLICE CASE FILED

A 11-year-old boy was allegedly forced to chant religious slogans in Maharashtra's Thane, police said on Tuesday.

India firmly supports Philippines in upholding its sovereignty: EAM Jaishankar

India firmly supports the Philippines in upholding its national sovereignty and wants to explore new areas of cooperation, including defence and security, External Affairs Minister S Jaishankar said on Tuesday, amid Manila's maritime dispute with China in the South China Sea.

LANKA ECONOMY RECORDS 4.5% SURGE IN Q4 2023: CENTRAL BANK

Sri Lanka's bankrupt economy is expected to grow by 4.5 per cent year-on-year in the fourth quarter of 2023, following six consecutive negative quarters. In February, the Central Bank reported a decrease in headline inflation to 5.9 per cent from 6.4 per cent in January. The gross official reserves improved to 4.5 billion dollars by the end of February 2024. This includes a swap facility from the People's Bank of China

Bain Report: India tops emerging markets for PE investment

Amid concerns of global slowdown and geopolitical tensions, Bain and Company's 2024 Asia-Pacific Private Equity Report has put India and Southeast Asia as two best emerging markets for investment opportunities. The report has put Japan as one of the three developed markets for PE investments over next 12 months.

Axis Bank launches digital US dollar FDs for NRIs at GIFT city

Axis Bank on Tuesday announced the introduction of digital US dollar fixed deposit (FD) for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat.

Wipro GE Healthcare announces Rs 8,000 cr investment in Medical devices and R&D

Wipro GE Healthcare on Tuesday said it Wi Won will invest over Rs 8,000 crore in India over the next five years to increase local manufacturing and research and development (R&D) initiatives.

Nikhil Kamath leads $10mm investment in Coffee Brand Subko

Subko, a Mumbai-based brand known for its specialty coffee, craft-baked goods, and bean-to-bar chocolate, has secured a significant investment of $10 million. Leading the round is renowned investor and co-founder of Zerodha, Nikhil Kamath, valuing the company at approximately $34 million postmoney. Kamath is also an investor in Third Wave Coffee.

TEJAS NETWORKS AND TELECOM EGYPT JOIN FORCES FOR DIGITAL EGYPT VISION

Anand Athreya, CEO and Managing Director of Tejas Networks said the pact with Telecom Egyptis an \"important milestone\" for both organisations

ECOR hauls record 250 million tonnes of freight in FY'24

The East Coast Railway (ECOR) zone has reached a significant milestone by achieving a freight loading of 250 million tonnes during the fiscal year 2023-24. This accomplishment underscores the railway zone's efficiency and capability in handling a substantial volume of freight despite various challenges.

Adani Ports acquires Gopalpur Port for Rs 3,080 cr to boost port network

The deal is significant as Gopalpur port is located on the east coast of India and has the capacity to handle 20 MMTPA(million metric tonnes per annum) of cargo. The Government of Odisha awarded a 30year concession to GPL in 2006, with the provision of two extensions of 10 years each.

MUMBAI DETHRONES BEIJING AS ASIA'S BILLIONAIRE CAPITAL, NOW AMONG WORLD'S TOP THREE

The Hurun Global Rich List 2024 reveals a surge in billionaire numbers worldwide, adding 167 new individuals and attributing over half of the new wealth to advancements in artificial intelligence (AI).

Auto sector shifts gears to premium models as high segment 2Ws, PVs take over

The Indian automobile sector is riding high on premiumisation as trends show in two-wheelers and passenger vehicles. A study of model-wise data for twowheelers (2Ws) and PVs for FY24 (year-to-date) shows that the growth in domestic motorcycles has been driven largely by the 125cc and above segments with the 125cc segment up 15 per cent yoy, 150-250cc segment up 22per cent YoY and the 250cc plus segment up 19 per cent YoY. On the other hand, the 100cc segment continues to underperform the industry and is up about 9 per cent.

Regulatory steps will make financial sector strong, but raise cost of capital

India's financial system Iregulator, the Reserve Bank of India (RBI), is demonstrating a serious commitment to improving governance and transparency at finance companies and banks, with the RBI's recent measures aimed at curtailing lenders' overexuberance, enhancing compliance culture and safeguarding customers.