The Ministry of Road Transport and Highways will now impose penalties on contractors if more than one accident occurs in a year on a specific stretch of National Highway built under the build-operate-transfer (BOT) model, a senior official said.Road Transport and Highways Secretary V Umashankar said the ministry has revised the BOT document to make…
India’s goal of meeting its full-year financial targets for FY26 may prove difficult, with a new report from Union Bank of India flagging slower-than-expected growth in corporate and income tax collections. The bank’s report points out that the Centre’s fiscal strategy for FY26 relies heavily on strong tax revenues, even as capital expenditure continues at…
India recorded divergent fuel demand patterns in October, with petrol sales touching their strongest level in five months while diesel usage showed no festive lift, according to preliminary industry data, cited by PTI.The beginning of the festival travel period pushed petrol consumption to 3.65 million tonnes during the month. This is a 7% increase from…
Portugal has made a major change to its citizenship rules, doubling the minimum time foreigners must live in the country before being eligible for a passport, from five years to as long as ten. The move has given a major blow to the plans of wealthy Indians who used Portugal’s golden visa route to eventually…
GST revenue collections in FY26 might exceed estimates this financial year!SBI Research expects India’s Goods and Services Tax (GST) collections to outperform targets in FY26, even as the country moves through a major rate restructuring exercise. The banking group’s latest analysis took in account for similar gains and losses across the states and concluded that…
The trade talks between US President Donald Trump and Chinese President Xi Jinping in Busan last week resulted in several breakthrough agreements, easing tensions for the two economies. These ranged from soybean purchases, tariff cuts and rare-earth export restrictions and more, though details were initially withheld. Trump-Xi Summit: America’s F-35 Rare Earths ‘Weakness’ China Won’t…
NEW DELHI: The impact of pre-GST revamp pause in sale of several products, such as automobiles and white goods, and the lower rates rolled out from Sept 22 slowed down the growth in gross GST receipts but the mop up remained close to the Rs 2 lakh crore-level, data for October showed. Official numbers released…
Months after US President Donald Trump settled a $16 million lawsuit with CBS News, he is set to return to “60 Minutes” this Sunday, marking his first appearance on the programme since the dispute.CBS confirmed that Norah O’Donnell conducted the interview at Mar-a-Lago on Friday. The network has, however, not disclosed how this week’s interview…
Even as Moscow’s crude dominates headlines, it’s not the only Russian oil flowing into India. Russia has now surpassed Ukraine to become India’s biggest supplier of sunflower oil, with shipments soaring twelvefold over the past four years, according to industry data cited by ET. ‘Very Good…’: Trump Drops Major Russian Oil Reveal After Talks With…
US treasury secretary Scott Bessent criticised China’s decision to tighten control of rare earth exports, calling it a “mistake” that cautioned everyone.Reflecting on China’s decision to introduce new export restrictions in October, Bessent said the move had revealed Beijing’s willingness to weaponise rare earths, a group of minerals that are vital to defence systems, electric…
Small and low-risk enterprises will soon be able to secure their Goods and Services Tax (GST) registration in just three working days. The GST department is introducing a simplified registration route for small and medium businesses, which becomes operational from Saturday. India’s Digital ID, GST Reform Win Global Recognition From IMF Chief Kristalina Georgieva Under…
NTPC Ltd has begun drilling India’s first-ever geological carbon dioxide (CO2) storage well at its Pakri Barwadih coal mine in Jharkhand, marking a significant milestone in the country’s carbon capture and storage efforts.The initiative, spearheaded by NTPC’s R&D arm– the NTPC Energy Technology Research Alliance (NETRA)– represents a crucial step in advancing India’s Carbon Capture,…
Gold prices continued to slide for the second straight week, pressured by a stronger dollar, easing geopolitical tensions, and the US Federal Reserve’s cautious signals on rate cuts that dented demand for safe-haven assets.On the Multi Commodity Exchange (MCX), gold futures for December delivery fell Rs 2,219, or 1.8 per cent, over the week. The…
State Bank of India (SBI) on Saturday said it has executed its first gold trade as a special category client (SCC) on the India International Bullion Exchange (IIBX), marking a key step in reshaping India’s bullion import framework.The move, SBI said, signals “a transformative era” for the bullion trade by enhancing efficiency, transparency, and accessibility,…
India’s gross Goods and Services Tax (GST) collections rose 4.6% year-on-year to about Rs 1.96 lakh crore in October, driven by festive demand and pent-up consumption, according to government data released on Saturday.The increase came despite GST rate cuts on 375 items–from kitchen essentials to electronics and automobiles–that took effect from September 22, coinciding with…
Coal India Ltd (CIL) reported a 9.8 per cent year-on-year fall in production to 56.4 million tonnes in October, reflecting a continuing slump in operations amid subdued demand and post-monsoon challenges.According to provisional data released by the company on Saturday, coal offtake during the month also declined 5.9 per cent to 58.3 million tonnes, PTI…
Warren Buffett’s Berkshire Hathaway reported a 17% rise in quarterly profit, boosted by a rebound in its insurance operations and gains from investments, even as the legendary investor prepares to hand over the reins to Vice Chair Greg Abel in January, AP reported.The company said on Saturday that it earned $30.8 billion, or $21,413 per…
China on Saturday said it will exempt certain Nexperia semiconductor products from an export ban imposed amid a dispute with Dutch authorities, signalling a partial easing of tensions that had alarmed European businesses.Anxiety over potential chip shortages had mounted after the Netherlands invoked a Cold War-era law in late September to take control of Nexperia,…
In a major step towards restructuring its operations, Eastern Coalfields Ltd (ECL) has reopened two previously closed mines under the Mine Developer and Operator (MDO) revenue-sharing model. The move, inaugurated virtually by Union Coal Minister G Kishan Reddy on Saturday, marks a strategic shift aimed at reviving loss-making assets and improving operational efficiency, PTI reported…
Many retired central government employees are waiting to see how the 8th Pay Commission will impact their pensions, now that the Centre has approved the commission’s Terms of Reference (ToR) and given an 18-month timeline for the report. Although pay commission discussions usually revolve around serving employees, pensioners outnumber them. As per the government’s Pensioners’…
