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5th largest IT co in the making: L&T Infotech, Mindtree set to merge
Mindtree Ltd and Larsen & Toubro Infotech Ltd (LTI), two technology companies in the Larsen & Toubro group, have decided to merge, creating India’s fifth largest IT firm, with a combined market valuation of Rs 136,000 crore.…
Rupee down 66 paise against USD
Mumbai, May 6: The Rupee on Friday dropped 66 paise to close at 76.91 against the USD on brisk selling of US Dollar by bankers and exporters, dealers at the Foreign Exchange said. The local unit that fell 47 paise to 76.72 in early…
Half of BSES consumers got no power bill since 2019
Over half of the people who are supplied power by BSES in Delhi did not pay any power bills since the Delhi government’s scheme that gives free power to those consuming less than 200 units of power per month was implemented.
According to…
Frontline Railway Staff trained under Mission Rail Karmayogi
New Delhi, May 5: Over 51,000 frontline Railway Staff have been trained under Mission Rail Karmayogi. The objective is to transform the outlook of the Frontline staff by providing citizen centric training- firstly helping them develop…
LIC IPO: Day 1, 67% booked, employees and policyholders oversubscribe quota
The mega initial public offering (IPO) of Life Insurance Corporation (LIC) received a strong response from investors with 67 per cent of the shares getting sold out on Wednesday, the first day of bidding, despite the stock market plunging…
Edible oil supply affected but have enough stock: Food Secy
With edible oil prices continuing on the higher side amid Indonesia banning the palm oil exports, Union Food Secretary Sudhanshu Pandey on Wednesday said that the scenario can’t change overnight as “it’s a reality that supplies from some…
Inflation finally hits RBI, pushes it to raise key policy rate, sudden and sharp
BRINGING AN end to the low interest rate regime, the Reserve Bank of India (RBI) on Wednesday jacked up the Repo rate, the main policy rate, by 40 basis points to 4.40 per cent and the cash reserve ratio (CRR) by 50 basis points to 4.50 per…
With competing claims for funds, DoT not in favour of tariff subsidy
Multiple requests and letters from private telecom companies and industry bodies notwithstanding, the Department of Telecommunications (DoT) is unlikely to provide any support in the form of floor price for tariff or subsidy for the same in…
Citi trader made error behind flash crash in Europe stocks
A trader at the U.S. firm made a mistake “inputting a transaction,” Citigroup said late last night, after a knee-jerk selloff in Swedish stocks in five minutes wreaked havoc in bourses from Paris to Warsaw, wiping out 300 billion euros…
India’s goods exports surge 24 pc to $38.19 billion in April
New Delhi, May 3: Continuing the growth momentum, India's merchandise export rose 24.22% in April, 2022 to $ 38.19 billion as compared to $ 30.75 billion in the corresponding month last year. Petroleum products, electronic goods and…
Khadi and Village Comm. posted Rs 1.15 lakh crore turnover
New Delhi, April 30: The Khadi and Village Industries Commission (KVIC) has clocked a turnover of Rs 1.15 lakh crore in financial year 2021-22, a growth of 20.54 per cent from the previous year, an official statement said on Saturday.…
India’s peak power demand crosses 207 GW on Friday
Mumbai, April 29: India's power demand touched another high on Friday at 207 GW, as mercury continued to soar higher and higher. The maximum all India power demand touched 207,111 MW at 14:50 hrs today, an all-time high so far,…
PM to inaugurate Global Patidar Business Summit today
New Delhi, April 28: Prime Minister Narendra Modi will inaugurate the Global Patidar Business Summit (GPBS), being organized by Sardardham on Friday at 12, via video conferencing. Sardardham is organizing GPBS under 'Mission 2026' to…
Telecom Dept launches 5G Vertical Engagement and Partnership Program
New Delhi, April 11: The Department of Telecommunications on Monday launched 5G Vertical Engagement and Partnership Program (VEPP) initiative and invited Expression of Interest (EoI) to build strong collaboration partnerships across 5G…
RBI revises its ‘real GDP projection’ to 7.2 per cent for FY’23
Mumbai, April 8: The Reserve Bank of India (RBI) on Friday has revised its real GDP projection for FY2022-23 to 7.2 per cent in the backdrop of the escalating geopolitical tensions and augmented supply-side disruptions due to the…
Rupee down 44 paise against US Greenback
Mumbai, April 6: Riding with the current world currency sentiments, Rupee tumbled down 44 paise to close at 75.75 against the greenback on rising demand for US Dollar by bankers and importers, dealers at the Foreign Exchange said. Surging…
Russian Amb to US calls sanctions against Banks blow to commoners
Washington, April 7: Feeling the pinch of US sanctions against Sberbank and Alfa Bank, Russian ambassador called these a direct blow to ordinary Russian citizens, Anatoly Antonov told reporters. “The administration's non-stop sanctions…
Centre approves 27 road projects in Arunachal
New Delhi, April 3: The BJP-led government at the Centre has approved 27 road projects under the Central Road Infrastructure Fund (CRIF) in Arunachal Pradesh, to improve road connectivity in the frontier state, Union Minister for Law…
NMDC posts 42.15 MT iron ore production with 23 % increase in FY 22
New Delhi, April 2: National Mineral Development Corporation Ltd (NMDC), country's largest iron ore producer, on Saturday reported cumulative production and sales for FY 22 at 42.15 MT and 40.70 MT respectively, a growth of 23 per cent…
A former Banker explains why Sri Lanka’s economy went from boom to bust
Colombo, April 03: While problems have been brewing for years, spillovers from the crisis in Ukraine have sent the island nation over the edge. As an unprecedented economic crisis is unfolding in Sri Lanka. And while the country’s problems…
