CATEGORIES

Global billionaire tax could yield $250 billion

Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

Net FDI down to $3 bn in April-August: RBI data

Net foreign direct investment (FDI) in India, representing the difference between inflows and outflows, has witnessed a significant decline during the period of April to August this year, falling from $18.03 billion in the same timeframe last year to $2.99 billion. This decline can be attributed to several factors, including a moderation in global economic activities and a notable increase in repatriation of investments.

Riyadh: Goyal to meet ministers, businesses to discuss trade, invest

As per an official statement on Monday, Commerce and Industry Minister Piyush Goyal will meet senior leaders and businesses in Riyadh, Saudi Arabia, during his two-day visit commencing on October 24.

Centre plans Rs 30k cr expansion of PM Fasal Bima Yojna

The government is contemplating earmarking a sum of Rs 30,000 crore for the expansion of the Pradhan Mantri Fasal Bima Yojana (PMFBY) portal, as reported by media.

INDIA WILL REMAIN FASTEST-GROWING MAJOR ECONOMY IN FY'24

September edition of Monthly Economic Review also flagged that global uncertainties have been compounded by recent developments in the Persian Gulf

Sikkim flood: Work on war footing to restore road connectivity

The Indian Army and the Border Roads Organisation (BRO) with the assistance of the civil administration are working on a war footing to restore road connectivity between Mangan and Chungthang in north Sikkim, which suffered extensive damage in recent flash floods, a Defence official said on Sunday.

11-YRS-OLD BOY SUSTAINS EYE INJURY FROM FIRECRACKER; POLICE FILES FIR

The Delhi Police on Saturday stated that an 11-year-old boy sustained an injury to his right eye allegedly after a miscreant burst a firecracker on the road in the National Capital's Shastri Park.

DELHI HIGH COURT DIRECTED CENTRE TO RELEASE RS 50 LAKHS UNDER PM INSURANCE PACKAGE TO KIN OF HOSPITAL SECURITY GUARD WHO DIED ON COVID-19 DUTY

The Delhi High Court in the case Sangeeta Wahi v. Union Of InT dia observed and has directed the Union Government, Director General of Health Services and Medical Superintendent of Safdarjung Hospital to release Rs.50 lakhs in favour of widow of a security guard who died on duty during COVID-19 pandemic while she being deployed in the government hospital.

A canvas of empowerment: Bengal and its pandals during Durga Puja

Bengalis have a special place in their hearts and homes for Goddess Durga, a representation of \"Nari Shakti\", the feminine strength and power. Durga is an essential component of every Bengali home in the state of West Bengal; she is not only a goddess to be worshipped in temples. Durga, also known as \"Maa Durga,\" is revered as a motherly figure, and people look forward to her advent each year during the Durga Puja season.

EU allocates funds to bolster UN WFP's efforts in Afghanistan

The European Union (EU) has pledged an additional €9.9 million to reinforce the United Nations World Food Programme’s (WFP) endeavors, with a specific focus on supporting primary school students in Afghanistan, according to a report by Khaama Press.

POVERTY SURGES ACROSS PAK WITH FOOD, ENERGY PRICES SPIKE: WORLD BANK REPORT

The report indicates that poverty has risen due to declining wages, reduced job quality, and the impact of high inflation on the purchasing power of people living in poverty, according to the media

RBI APPROVES ASHOK VASWANI AS KOTAK MAHINDRA BANK CEO & MD

The appointment of Ashok Vaswani as Kotak Mahindra Bank’s managing director and CEO has been authorized by the Reserve Bank of India

ICICI Bank Q2 profit up 36% on lower provisions & core income

ICICI Bank announced on Saturday that its consolidated net profit for the September quarter increased by 36.08 percent to Rs 10,896.13 crore, primarily due to a significant decrease in provisions and growth in core revenue.

Kejriwal unveils Sarai Kale Khan flyover extension

Delhi's Chief Minister, Arvind Kejriwal, inaugurated the Sarai Kale Khan flyover extension on Sunday, marking a significant step in improving the capital city's traffic management.

Vande Bharat sleeper train to surpass Rajdhani

The Indian Railways is gearing up to introduce a new era of travel with the Vande Bharat sleeper coach trains, which are set to surpass the premium Rajdhani Express in terms of passenger comfort and speed. This ambitious project, in collaboration with Defence PSU BEML, aims to revolutionize long-distance overnight travel.

DELHI TARGETS KNOWLEDGE-DRIVEN, HIGH-TECH GROWTH

Industries department officials said that comments have been invited from the shareholders on the policy white paper till 20 Nov

India surpasses Europe in 5G network growth

In recent developments in India’s telecommunications sector, the country’s strides in the deployment of 5G networks have garnered attention from industry leaders and international organizations. The ITU Study Group, a United Nations organization, met in Geneva, showing support for India’s ambitious goal of establishing widespread 6G network coverage. This decision is expected to significantly reduce implementation costs for the next generation of technology.

Top 10 Indian firms lose Rs 1.52 lakh cr in m-cap

In the past week, India’s top 10 most valuable companies witnessed a collective drop in market capitalization, with significant losses incurred primarily by Reliance Industries and Tata Consultancy Services (TCS), as the equity market faced a period of weakness.

'India's FMCG consumption lags behind global peers'

Hindustan Unilever’s Managing Director and Chief Executive Officer, Rohit Jawa, recently provided insights into India’s FMCG (fast-moving consumer goods) consumption and the company’s future growth prospects during an investor briefing.

PM sets 6-month goal for full rollout of welfare schemes

Prime Minister Narendra Modi has set a six-month target to achieve full saturation of government welfare schemes, initiating a mega drive called “Viksit Bharat Sankalp Yatra” across 2.7 lakh panchayats in India. Specially equipped vehicles will reach beneficiaries, with the initiative commencing after Diwali and continuing for several weeks.

INDIA TO SHOWCASE ITS TEXTILES PROWESS AT BHARAT TEX 2024

The expo encapsulates India’s 5F vision, highlighting its preparedness to compete globally in textiles and promote both international products and Brand India”

AMBROSIA, TATA ORGANIC SEAL COLLABORATION

Ambrosia Organic Farm (AOF) and TATA Organic, two titans of India's organic industry, have forged a pivotal partnership to offer superior organic goods to India's discerning consumers.

PAYTM REPORTS ROBUST Q2FY24 EARNINGS, REVENUE JUMPS 32% YOY

Paytm, India's premier payments and financial services behemoth, declared impressive June quarter results, boosted by a rise in merchant subscription revenues, payment volumes, and loan distributions.

Madsto gains seed funding from Prajay Advisors for expansion

Rising men's casual wear brand, Madsto, proudly announces its successful seed-stage funding from Mumbai-based Prajay Advisors LLP. The exact funding amount remains undisclosed. Renowned fundraising platform, capitalCORN, played an instrumental role in guiding and realising this investment, strengthening Madsto's ambition to flourish in the cut-throat fashion retail arena.

RBI slaps Rs 2.5 crore penalty on L&T Finance

The Reserve Bank of India (RBI) has imposed a fine of Rs 2.50 crore on L&T Finance Limited due to regulatory breaches. This decision stems from L&T Finance's non-adherence to specific provisions outlined in the Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016, as detailed in an official RBI statement.

Delhi HC directs public toilets' maintenance and standards

The Delhi High Court has asked the authorities to guarantee the maintenance of public toilets and facilities in accordance with proper sanitation standards. The court stressed that the operation and upkeep of these facilities are integral to effective management, and the implementation of a complaint reporting or feedback system is imperative.

J&K HC ORDERS EC TO ALLOCATE UNIFIED SYMBOL

The High Court of Jammu Kashmir and Ladakh has directed the Election Commission to assign a unified symbol to all candidates representing the 'Ekam Sanatan Bharat Dal' in the upcoming elections in four states scheduled for November this year.

India sees surge in jobs amid EV sector boom

India is speeding ahead in the Electric Vehicle (EV) race, promising millions of direct and indirect jobs in the upcoming decade. The EV surge, fueled by hundreds of new manufacturing and green infrastructure startups, has led to a skyrocketing demand for workers proficient in green skills.

Indian auto exports slip, passenger vehicles grow 5%

Automobile exports from India faced a decline of 17.5% in the first half of the fiscal year 2023-24, with a total of 22.11 lakh units shipped as opposed to 26.80 lakh units in the same period the previous year. This slump spanned across various segments like two-wheelers, commercial vehicles, and three-wheelers. In a silver lining, the passenger vehicle (PV) segment witnessed a growth of 5%.

SUVS DOMINATE INDIA'S AUTO MARKET AMID SHIFTING PREFERENCES

Indian consumers are increasingly choosing sport utility vehicles (SUVs) over traditional hatchbacks and sedans, marking a noticeable shift in the nation's car market.