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Recession in West pulls down India’s overall export growth in April’23 to 2% yoy, combined trade deficit falls to 21 months low

16 May 2023 11:17 AM IST

Geopolitical tensions and recession in the western countries dragged down India’s overall export (merchandise and services combined) growth in April 2023 to a bare 2 per cent over April 2022. Overall exports last month is estimated to be USD 65.02 billion while overall imports in April 2023 tanked at USD 66.40 billion,

SEBI probing Adani since 2016 is factually baseless, regulator tells SC

16 May 2023 04:25 AM IST

The Securities and Exchange Board of India apprised the Supreme Court on Monday that the market regulator is already investigating Adani Group companies since 2016 is factually baseless. SEBI has filed a rejoinder affidavit in response to a petition relating to Hindenburg Research’s report on the Adani Group. SEBI had

Misappropriation of Funds: Delhi Police Files Case Against Ashneer Grover & Wife

11 May 2023 15:20 PM IST

Economic Offences Wing (EOW) of Delhi police has registered a case against former Bharat pe managing Director Ashneer Grover, his wife and others “for using company funds inappropriately on the basis of various forged documents”. “The Economic Offences Wing (EOW) on Wednesday registered a first information report (FIR) against former

The great crypto migration: Coinbase finds Oasis in UAE with Polkadot, Litecoin & Ape Brigade.

11 May 2023 14:45 PM IST

11 May, New Delhi, According to reports, the United Arab Emirates (UAE) is being considered as a potential international hub by Coinbase, the largest cryptocurrency exchange in the US. In a recent interview with Bloomberg TV, Coinbase CEO Brian Armstrong stated that the UAE is “leading the way regionally” in

Cisco announces manufacturing plans in India

10 May 2023 16:50 PM IST

Chief Executive Officer Chuck Robbins announced on Wednesday that Cisco Systems will start producing in India as part of an effort to diversify its global supply chain, with a goal of $1 billion in domestic production and exports over the following several years. Although Cisco, a company that sells a

NCLT admits Go First’s plea for insolvency proceedings

10 May 2023 13:12 PM IST

Last Thursday, the budget airline submitted a petition to the National Company Law Tribunal (NCLT), requesting the application of bankruptcy laws to protect its interests. It also sought an interim moratorium to prevent aircraft lessors from seizing its fleet of 26 planes. Furthermore, the airline requested the appointment of an

Indian stock indices decline largely on profit booking

05 May 2023 10:10 AM IST

Indian stock indices declined Friday morning, largely due to profit booking after the recent consistent bull run. Indian stock indices had been rising for about two weeks, backed by higher-than-estimated Q4 earnings, firm GST collection and foreign fund inflows. Benchmark indices Sensex and Nifty declined 0.5 lower at the time

Go First’s failure, an extremely unfortunate thing: SpiceJet Airlines CMD

04 May 2023 17:21 PM IST

The failure of Go First Airlines is extremely unfortunate, Ajay Singh, Chairman and Managing Director, SpiceJet Airlines, said on Thursday. On being asked why fares were going up in sectors Go First was flying, the SpiceJet Airlines CMD said that it is a temporary phenomenon. “It happens when there is

India’s services PMI rises to 62.0 in April ‘23, registers fastest output since mid 2010

04 May 2023 09:55 AM IST

Service sector growth in India quickened substantially in April, with demand strength promoting the fastest increases in new business and output in close to 13 years. Companies became more optimistic towards future business activity, but job creation remained negligible, the S&P services PMI showed on Wednesday. Rising from 57.8 in

Elista to invest Rs 250 crore for setting up facility in Andhra

03 May 2023 16:12 PM IST

Electronics and home appliances manufacturing firm Elista on Wednesday said it will invest Rs 250 crore for setting up a modern 1,32,300 sq ft facility in Andhra Pradesh that will be operational by the first quarter of 2024. The firm, founded in 2020, is a manufacturer of electronics, home appliances,

Assam Gas Company, Oil India sign agreement for piped natural gas supply

01 May 2023 10:20 AM IST

The Assam Gas Company Limited (AGCL) and Oil India Limited have signed an agreement for the establishment of a joint venture company with the mandate to lay, build and operate the city natural gas distribution networks in parts of Assam and the bordering northeastern state of Tripura. The agreement signing

‘Looking at business models of banks more closely’, RBI Governor

27 Apr 2023 16:55 PM IST

A resilient bank needs to be financially, operationally, and organizationally resilient and should have adequate capital buffers to be able to generate earnings even in times of severe macroeconomic shocks, said Reserve Bank of India governor Shaktikanta Das, adding that it has started looking at the business models of banks