India hot investment destination for Western corporate giants: UN report
New Delhi, May 18 - India has become an alternative investment destination for many Western companies, according to the latest World Economic Situation and Prospects report of the UN.
Nestle India shareholders reject proposal to hike royalty to Swiss parent
Mumbai, May 18 - Nestle India shareholders have rejected a proposal of the company’s board of directors to increase royalty payments to its Swiss parent Nestle S.A., according to a regulatory filing by the company.
Govt eyes hydrogen-based process for steel production to cut carbon emissions
New Delhi, May 17 - Secretary, Ministry of Steel, Nagendra Nath Sinha said on Friday that the government is working on introducing a green hydrogen-based process in the steel industry where the iron will be directly reduced with 100 per cent hydrogen, resulting
JSW Steel to buy coking coal mine in Mozambique for $73.75 million
Mumbai, May 17 - JSW Steel on Friday said that its board of directors have approved the acquisition of mining company Minas de Revuboe (MDR) in Mozambique to secure supplies of high-quality coking coal used for steel production.
India forex reserves surge by $2.56 bn to $644.15 bn
Mumbai, May 17 - India’s foreign exchange reserves surged by $2.56 billion to $644.15 billion during the week ended May 10, the latest data released by the RBI showed on Friday.
JSW Steel posts 64 pc decline in Q4 net profit at Rs 1,299 crore
Mumbai, May 17 - Billionaire Sajjan Jindal-led JSW Steel on Friday reported a 64 per cent decline in its consolidated net profit to Rs 1,299 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 3,664 crore in the
Sensex jumps 253 points after robust Q4 earnings
Mumbai, May 17 - India stock indices were up on Friday following robust Q4 earnings from consumer and auto companies.
Economic priorities will have to align with our strategic interests: EAM Jaishankar
New Delhi, May 17 - As India sees robust growth, sweeping reforms, radically improved governance, fiscal discipline, infrastructure progress, rapid digitisation and focus on developing skills, we must recognise that our economic priorities will have to align with our strategic interests, External Affairs
PM Modi will be back with ‘good majority’, work on full budget to start soon: FM Sitharaman
New Delhi, May 17 - Finance Minister Nirmala Sitharaman on Friday said the BJP is confident that Prime Minister Narendra Modi would “come back with a good majority” and discussions for the full budget for 2024-25 would start as soon as the new
Not ready to announce anything yet regarding chip fabrication unit: Zoho CEO
New Delhi, May 17 - Cloud software major Zoho's Founder and CEO Sridhar Vembu on Friday said the company is not ready to announce anything yet regarding investments in a semiconductor fabrication unit.
EVs account for 20 pc of car imports in Jan-April period in S. Korea
Seoul, May 17 - Nearly one out of five imported vehicles in South Korea were battery-powered ones in the January-April period despite slowing sales of electric vehicles (EVs) globally, industry data showed on Friday.
India makes strong pitch for playing pivotal role in global hydrogen economy
Rotterdam, May 16 - India has the capability to become a leading exporter of green hydrogen and is poised to play a pivotal role in the global hydrogen economy, Secretary, Ministry of New & Renewable Energy, Bhupinder Singh Bhalla said at the World
HAL posts 52 pc jump in Q4 net profit at Rs 4,308 crore
New Delhi, May 16 - Government-owned defence major Hindustan Aeronautics Ltd (HAL) on Thursday reported a 52 per cent jump in net profit to Rs 4,308 crore for the January-March quarter of 2023-24.
UN raises India’s 2024 growth rate to 6.9 pc; remains world’s fastest-growing large economy
United Nations, May 17 - Indian economy's growth rate projection for this year has been raised by 0.7 per cent to 6.9 per cent from the forecast made in January by the UN and it retains its position as the world's fastest-growing large
GAIL net profit jumps 67 per cent in 2023-24
New Delhi, May 16 - Public sector natural gas giant GAIL on Thursday reported a 67 per cent increase in net profit at Rs 8,836 crore for the financial year 2023-24 compared to the corresponding figure of Rs 5,302 crore in 2022-23.
Australian unemployment rate rises to 4.1 pct
Canberra, May 16 - Australia's unemployment rate rose for a second straight month to 4.1 per cent in April.
ONGC, Oil India to get relief as Centre cuts windfall tax on crude oil
New Delhi, May 16 - The Central government has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from Thursday, as part of its fortnightly revision that is calibrated with global prices.
Modi govt’s policies resulted in exponential & unprecedented infra creation: FM Sitharaman
New Delhi, May 15 - Finance Minister Nirmala Sitharaman said on Wednesday that Prime Minister Narendra Modi-led government's policies in the last 10 years have resulted in an "exponential and unprecedented" infrastructure creation in the country across the roads, power, railway, ports and
FM Sitharaman reels out data to slam Congress for neglect of infra projects
New Delhi, May 15 - Finance Minister Nirmala Sitharaman on Wednesday reeled out data to slam the erstwhile Congress-led United Progressive Alliance (UPA) government for having "wasted India's economic growth potential between 2004-14 and leaving it among the 'Fragile Five' economies without focusing
Adani Energy Solutions acquires Essar’s Mahan-Sipat transmission assets for Rs 1,900 crore
Ahmedabad, May 16 - Adani Energy Solutions Ltd (AESL), on Thursday, announced that it has acquired 100 per cent stake in Essar Transco Ltd for Rs 1,900 crore.