Business News Updates

New Delhi: Chinese telecom giants Huawei and ZTE could be potentially out of the game in India with the government set to begin formulating an action plan on the implementation of ‘National Security Directive on Telecommunication Sector’ on Thursday. With an aim to protect India’s essential national security interests, a committee headed by the Deputy […]

New Delhi: Petrol and diesel prices rose sharply again on Friday reaching new all-time high levels as oil marketing companies decided to break the pause in revision of auto fuel prices to bridge the widening under recovery. Accordingly, the pump price of petrol increased between 22-25 paise per litre across all major metros on Friday […]

New Delhi: Petrol and diesel prices rose sharply again on Saturday reaching new all-time highs as oil marketing companies (OMCs) decided to break the pause in revision of auto fuel prices to bridge the widening under recovery. Accordingly, the pump price of petrol increased between 22-25 paisa per litre across all major metros on the […]

New Delhi: Industry body India Cellular and Electronics Association (ICEA) has renewed its demand for reducing Goods and Services Tax (GST) for the mobile industry ahead of the Union Budget to be presented on February 1. Terming the GST hike of 50 per cent in March 2020 as “a cruel blow” dealt to the industry, […]

New Delhi: The Confederation of All India Traders (CAIT) in a communication sent to Union Commerce Minister Piyush Goyal demanded immediate action against e-commerce entities including Amazon, Flipkart, Zomato, Swiggy and others. “It is a case of daylight robbery of e-commerce entities in India and therefore demand immediate action against the erring e-commerce portals and […]

New Delhi: The committee constituted by the Insurance Regulatory and Development Authority of India (IRDAI) has recommended direct payment of insurance premium to the insurance company while purchasing a vehicle, thereby suggesting separate payments for both buying the vehicle and the premium. The Committee for Review of MISP (Motor Insurance Service Provider) Guidelines examined the […]

New York: Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows “declined most strongly” in major economies such as the UK, the US and Russia due to the COVID-19 pandemic, India and China bucked the trend , the UN has said. […]

Bhubaneswar: Following reports in a sections of media that the old banknotes of Rs 100, 10 and 5 denoinations would be demonetised by March-April, the Reserve Bank of India (RBI) on Monday issued an official statement. The Reserve Bank of India categorically termed such reports as ‘incorrect.’ In a tweet, the RBI said, “With regard […]

New Delhi: Petrol and diesel prices witnessed the steepest single-day hike in several months on the Republic Day on Tuesday as oil marketing companies raised the prices of the two auto fuels by 35 paise per litre. With the latest increase, petrol is available at a record high of Rs 86.05 a litre in Delhi […]

New York: The International Monetary Fund (IMF) projects India’s economy to bounce back by 11.5 per cent in the next financial year, making it the fastest-growing major economy, and attributed it to the effect of easing of lockdown measures last year. The World Economic Outlook (WEO) Update released in Washington last week increased the forecast […]

Washington: India’s recently-enacted agri laws have the potential to increase farmers’ income, but there is a need to provide a social safety net to the vulnerable cultivators, IMF’s Chief Economist Gita Gopinath has said. Indian agriculture is in need of reforms, she said. There are multiple areas where the reforms are needed, including infrastructure, the […]

New Delhi: Over the uncertainty in making a comeback following a ban on the hugely popular TikTok video app, China’s ByteDance will shut its India business and cut the 2,000-plus employees to a bare minimum, the company told employees in an internal memo on Wednesday. Tiktok’s global interim head Vanessa Pappas and vice president for […]

Mumbai: The Enforcement Directorate (ED) has arrested Yes Bank’s former Chairman Rana Kapoor in an alleged money-laundering case pertaining to the probe in a HDIL group company, official sources said on Wednesday. Currently in jail in the DHFL case, Kapoor – who has been sent to ED custody till January 30 – had allegedly sanctioned […]

New Delhi: Telecom major Reliance Jio is the fifth strongest brand in the world, shows the ‘Brand Finance Global 500 2021’ report. The annual report on the most valuable and strongest brands in the world noted that despite being the latest entrant in the India’s telecom scenario, Jio has quickly become the largest mobile network […]

New Delhi: The Union Budget 2021-22 may come out with a policy on privatisation of public sector enterprises detailing the scope of its PSU sell off programme highlighted as part of Atmanirbhar package last year. As part of the four part Atmanirbhar Bharat Package announced by the government last year to bring the economy affected […]