Business News Updates

New Delhi: In a significant development, TikTok CEO Kevin Mayer has quit the company amid the ongoing dispute with the Donald Trump administration and sale talks in the US and the India ban. Less than six months into the job, Mayer announced his departure in an internal email seen first by the Financial Times on […]

New Delhi: Food safety regulator FSSAI has decided to intensify its crackdown against the sale of adulterated edible oil with pan-India surveillance. A quality survey has been conducted across the country between August 25-27 across all states and Union territories. The nationwide survey was carried out with over 4,500 samples covering a total of 16 […]

Bhubaneswar: IRCTC and State Bank of India (SBI) recently launched contactless credit card on RuPay Platform. The IRCTC-SBI credit card comes with multiple benefits for all its customers and train travellers. Official sources said, the IRCTC-SBI card offers wide range of rewards for Indian Railway travelers as they can avail savings on their travel. It […]

New Delhi: Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, on Saturday announced that it is acquiring the retail, wholesale, logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lump sum aggregate consideration of Rs 24,713 crore, subject to adjustments as set out in […]

New Delhi: As several states continue to oppose the borrowing options proposed in lieu of the GST compensation, the Centre has told states that central revenues have been under greater strain compared to GST revenue. In a letter to the states, and Union Territories proposing the two options and explaining them in detail, the Finance […]

New Delhi:  Billionaire Gautam Adani’s Adani Group on Monday said it will acquire GVK’s stake in Mumbai airport, to become the country’s biggest private airport operator, with a cumulative shareholding to 74 per cent. According to a regulatory filing, Adani Airport Holdings Ltd (AAHL), the flagship holding company of Adani Group for its airport business, […]

Mumbai: Equity benchmarks’ six-session rally came to a juddering halt on Monday as a flare-up in India-China border tensions hammered investor sentiment. Profit-booking after the recent rally and a depreciating rupee further weighed on the bourses, traders said. The BSE Sensex, which made a strong start and touched the 40,000-mark in the morning session, surrendered […]

New Delhi: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1 of 2020-21, both at Constant (2011-12) and Current Prices, along with the corresponding quarterly estimates of expenditure components of the GDP. GDP at Constant (2011-12) Prices in […]

Mumbai: The Reserve Bank of India (RBI) on Monday announced additional steps to ensure orderly market conditions and congenial financial conditions, including conducting a special open market operation and a repo term operation. In a statement, the RBI said that recently, market sentiments had been impacted by concerns relating to the inflation outlook and the […]

New Delhi: Digital payments platform PhonePe on Monday announced that it will enable digital payments for over 2.5 crore small merchants across India in the next one year. In a statement, the company said that it will also onboard these kiranas on its ‘PhonePe for Business’ app, offering them end-to-end control of the payment process […]

New Delhi: The government has completely eliminated the need to provide subsidy on domestic cooking gas as the global fall in oil prices and frequent rise in LPG gas cylinder price has brought the price of the common man’s fuel closer to market rates. As of September 1, the price of non-subsidised and subsidised 14.2 […]

New Delhi: The Covid-19-induced shrinking of economic activity for the past few months has continued to have an impact on the government’s tax collections with revenue under the Goods and Services Tax (GST) falling far below the psychological level of Rs 1 lakh crore to Rs 86,449 crore in August. This is second consecutive month […]

Mumbai: The National Company Law Tribunal (NCLT) has approved the sale of IL&FS’s education business, Schoolnet India Ltd, to Lexington Equity Holdings Ltd (LEHL). As per the deal, LEHL will service the entire debt of Schoolnet and will pay equity of around Rs 7.39 crore to IL&FS, the parent company. LEHL already holds a 26.13 […]

New Delhi: The twin children of billionaire Mukesh Ambani, Akash and Isha, have made it to the Fortune’s latest ’40 Under 40′ list of influential people around the world. The Ambani scions, who will celebrate their 29th birthday next month, feature in the technology section of the list where they have got company from India’s […]

Mumbai: The rupee witnessed high volatility in the opening session on Friday amid heavy selling in domestic equities and a rebound in the American currency. At the interbank forex market, the domestic unit opened on a strong note at 73.38 against the US dollar, then gained further to quote at 73.35. The local unit, however, […]