CATEGORIES

Vande Bharat breaks 160 kmph limit

The maximum speed of the Bhopal-New Delhi Vande Bharat Express reached 161 kilometres per hour during its launch run on Saturday, breaching its expected speed limit of 160 kmph, officials said.

Cricketer Salim Durani dies at 88

Former India all-rounder Salim Durani, who was known for his match-winning ability, died at the age of 88 on Sunday, PTI news agency reported.

Bhubaneswar to get first intl flight

The Bhubaneswar airport will get its maiden international flight with IndiGo starting a direct service to Dubai from 15 May, officials said.

Harris makes political hay on visit to three African nations

Harris’ tour carried geopolitical aims, as the US looks to bolster African relations and counter Chinese influence

Syria reports third airstrike by Israeli defence forces in 4 days

Syria reported the third airstrike by Israel in four days early Sunday, as Israeli Prime Minister Benjamin Netanyahu vowed to pursue his country's enemies \"on all fronts\".

UBS may slash 20-30% jobs after Credit Suisse takeover

UBS Group AG will cut its workforce by between 20% and 30% after completing its takeover of Credit Suisse Group AG, slashing as many as 36,000 jobs worldwide, SonntagsZeitung reported, citing a senior manager at UBS.

Sodexo targets schools, MSMEs in India

The Sodexo Benefits and Rewards Services (BRS) is targeting schools and small merchants to expand its base in India. It will allow customers to use Sodexo cards on mobiles to buy school meals or products from kirana stores, said Sodexo BRS' global chief executive Aurelian Sonet.

Auditors' annual report on transparency to be public

Report will detail operations, quality control systems, network relationship with others

Opec+ makes surprise I million-barrel oil production cut

Opec+ announced a surprise oil production cut that will exceed 1 million barrels a day, abandoning previous assurances that it would hold supply steady to maintain a stable market.

Adani deals helped lift FPI flows in Mar

After pulling out funds in the past two months, foreign investors have invested ₹7,936 crore in the Indian equities in March mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners.

BOP: A tale of growth and yield

The latest balance of payment (BOP) numbers offer comfort. Firstly, the current account deficit (CAD) narrowed sharply to 2.2% of the gross domestic product (GDP) in the three months ended December (Q3FY23) from 3.7% in Q2. The current account measures the net export of goods and services by a country (along with remittances and income on investments). A lower CAD often signals strengthening external sector fundamentals.

Exporters seek three-month transition time for new FTP

Exporters believe this will allow them to settle their existing contracts under the old policy

Borrowers cautious on new home loans

The home loan market is showing signs of a slowdown after the central bank’s steep repo rate hikes have caused potential borrowers to be cautious and made repayment harder for existing customers.

More worried for next year: Rogers

Jim Rogers, the Singapore-based American investor, said he’s more worried about next year than this year, as a widely anticipated recession is expected to hit some Western nations by the end of the current year.

'G20 will set the tone for WB, IMF reform'

As the world looks to India to champion the cause of the ‘global south’, India’s Sherpa to G20, Amitabh Kant, shares the progress and goals, including advocating for a comprehensive overhaul of the World Bank and International Monetary Fund. G20 officials met at the backwaters of Kumarakom, Kerala, for the second Sherpa meeting to address priority areas identified by India during its presidency. India aims to set an ambitious agenda for the G20 amid the current global turbulence of geopolitical and macroeconomic challenges. Edited excerpts from an interview:

Covid cases doubling in 4-5 days, says top expert

Covid-19 infections in India are doubling every 4-5 days, a top epidemiologist cautioned, indicating that the pandemic is still far from being under control despite the return of near normalcy across society and the economy.

Consumption shows signs of weakness as inflation bites hard

Automakers and consumer goods companies, including electronics retailers, fast food chains and apparel companies, reported subdued demand in March.

RBI may hike repo rate by 25 bps: poll

MPC is likely to keep the policy stance unchanged: economists

Govt may defer EV incentive-linked tests

Electric vehicle makers are expecting a six-month relief to obtain mandatory certifications under the ministry of heavy industry's (MHI) battery safety tests, industry people familiar with the matter said.

AMNS Luxembourg to raise $5 bn Japan loan

JBIC will lend $3 bn, the rest will be provided by MUFG Bank and others

Foreign travel turns summer favourite despite high fares

Many Indians are looking to travel to overseas for the summer holidays despite a 60-70% rise in airfare on several routes and delays in processing visas, industry experts said.

Core sector growth slowed in Feb, fiscal deficit at 83%

Poor show by core sectors will also impact industrial production data for the month

ICICI Sec to double wealth team, eyes $60 billion assets

The wealth management unit, a subsidiary of ICICI Bank, plans to double its team of around 350 relationship managers and roughly 100 virtual managers

Trump to be arraigned next week after his historic indictment

Donald Trump will be arraigned in the criminal case against him on Tuesday afternoon following his indictment Thursday, according to a person familiar with the matter.

IPL ad revenues drop as media rights get divided

As of 30 March, only ₹3,000 crore worth of deals have been inked, with ₹2,000 crore by Star Sports and the remaining ₹1,000 crore by Viacom18’s JioCinema OTT platform, according to a senior media agency executive.

Current account deficit shrinks in Q3 as trade balance improves

CAD narrowed to $18.2 billion in the December quarter of FY23 against a deficit of $30.9 billion in the preceding three months, showed Reserve Bank of India (RBI) data released on Friday.

Indian stocks soar as global contagion fear recedes

Large caps led Friday’s rally, with support from small and medium caps.

Oyo's confidential IPO filing targets up to $600 million

Oyo aims to sell new shares to raise $400 million-$600 million ( ₹3,285 crore- ₹4,927 crore) to repay debt and hopes to list before Diwali, the people cited above said on the condition of anonymity.

New FTP eyes $2 tn in exports by 2030

Trade policy seeks to support merchanting trade, e-commerce

Safe urban spaces for all shouldn't be a long haul

Swachh Bharat needs an urban boost. If everyone had access to clean toilets, it would serve as a hygiene factor in addressing our abysmal gender gap in paid workforce participation