NEW DELHI: The Union cabinet on Wednesday approved two schemes, with govt support of Rs 1.9 lakh crore, aimed at taking India’s electronics manufacturing ambitions beyond assembly lines into semiconductor fabrication, advanced packaging, materials and homegrown mobile phone brands.The Cabinet cleared Semicon 2.0 with an outlay of Rs 1,27,500 crore and the Mobile Phone Manufacturing…
File photo: Workers wait for customers at a souvenir store as foreign tourists walk by Wangfujing shopping street in Beijing China’s economy slowed more than expected last quarter to the weakest in more than three years, raising pressure on policymakers to speed up public spending to ensure their annual growth goal is met.Gross domestic product…
NEW DELHI: India’s passenger vehicle market clocked its strongest-ever first quarter in April-June, with domestic sales rising 25.9% year-on-year to a record 12.7 lakh units, driven by strong demand for SUVs, lower financing costs and fresh model launches.The record quarter also reshaped pecking order among automakers, with Tata Motors reclaiming the country’s No. 2 position…
NEW DELHI: British car majors, including JLR and McLaren, have announced steep reductions in prices as the India-UK Comprehensive Economic and Trade Agreement (CETA) kicked on Wednesday. But your bottle of Scotch and Gin, as well as blended India-made whisky, will take time to get cheaper, with the filing and clearances from state excise departments…
NEW DELHI: More than two-third people in India are now covered under at least one social security benefit – roughly translating into 100 crore people – International Labour Organisation (ILO) director general Gilbert F Houngbo said Wednesday.“According to ILO running estimates, India’s social protection system now reaches 100 crore people. This milestone offers lessons that…
NEW DELHI: Unemployment rate (UR) in June remained the same at 5.5%, but women found it difficult to get work, the latest monthly PLFS data released by NSO Wednesday showed.Female UR in current weekly status (CWS) rose to 5.9% from 5.6% June, while jobless rate in men dipped 5.3% from 5.4%. Female labour force participation…
NEW DELHI: The use of new technology is helping the Employees’ Provident Fund Organisation (EPFO) settle claims faster apart from clearing backlog and depositing interest income into subscriber accounts quickly.The latest version of Centralised IT Enabled Services (CITES), which went live July 3, as well as the revamped rules, have resulted in auto-processing of 83%…
India exports $140 million worth of goods to UK as FTA takes effect NEW DELHI: India exported goods worth over $140 million to the UK at zero import duty on the first day of the India-UK Comprehensive Economic and Trade Agreement (CETA) coming into force on Wednesday, Commerce Secretary Rajesh Agrawal said.More than 50 export…
SpaceX shares came below listing price for the 1st time since market debut NEW DELHI: SpaceX shares fell below their initial public offering (IPO) price for the first time on Wednesday, marking a sharp reversal for the Elon Musk-led company after its blockbuster market debut just over a month ago.The stock declined 1.9 per cent…
US Stocks today: Markets open in green despite Iran tensions, oil price swings (Image/AP) US stock markets edged higher on Wednesday after strong quarterly earnings from major companies, while investors also reacted to fresh inflation data and rising tensions in the Middle East.The S&P 500 rose 0.2 per cent, putting it on track for its…
US issues fresh sanctions again Iranian and Russian entities and individuals The United States on Wednesday imposed fresh non-proliferation sanctions on seven individuals and entities across Iran, Russia, Italy and Nigeria for allegedly supporting weapons procurement on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC). The action, announced by the US treasury department’s office of…
JPMorgan Chase could become the first bank with $1 trillion valuation JPMorgan Chase could become the world’s first bank to touch the market valuation of $1 trillion.The lender’s shares surged to a record high after it reported the highest quarterly profit ever posted by a US bank, lifting its market capitalisation to around $919 billion….
Cabinet approved 43.218 km Link/Connector Corridor connecting NH-31 and Varanasi Ring Road along the River Varuna . NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved two highway projects to further strengthen infrastructure in Varanasi (Kashi) by constructing a 43.2-km, predominantly 6/4-lane elevated corridor along the Varuna riverbank and a 46.04-km, predominantly…
MUMBAI: HDB Financial Services reported net profit of Rs 785.2 crore for the June 2026 quarter, up 38.3% from Rs 567.7 crore in the year-ago period, driven by steady growth in net interest income and a moderate rise in non-interest income alongside stable credit costs.Net interest income rose to about Rs 2,508.7 crore from Rs…
A common mistake investors make is replacing mutual funds solely because they underperformed over a short period. (AI image) The author is CEO of PaisabazaarFor many salaried individuals, a new financial year begins with bigger paychecks and bonuses. With higher income, the immediate instinct may be to invest in a new mutual fund scheme, increase…
Just as global energy supplies were beginning to stabilise after nearly four months of disruption, Iran has issued a fresh warning over the Strait of Hormuz. This time, however, the threat could extend far beyond the waterway.As tensions in the Middle East intensify again, Iran has warned that it could expand efforts to disrupt regional…
Returns From ECBs, Foreign Currency Bonds On Wait & Watch Due To Longer Durations MUMBAI/NEW DELHI: Bankers expect India to draw $80-85 billion of foreign capital through the RBI’s swap-backed push spanning FCNR(B) deposits, external commercial borrowings and overseas foreign currency bonds issued by banks, though the timing of inflows is likely to be uneven…
Gold is expected to remain supported as softer-than-expected US inflation has eased immediate expectations of further Fed tightening. (AI image) Gold price prediction today: Gold prices are likely to see a constructive outlook in the near-term, while silver is supported for the long-term, says Vedika Narvekar, Research Analyst – Commodities & Currencies, Anand Rathi Shares…
MUMBAI: Reserve Bank of India has proposed changes to bank shareholding norms to ease investment by domestic institutional investors, while tightening disclosure and monitoring to maintain regulatory oversight. The amendments will make it easier for fund managers that are part of a financial conglomerate to acquire shares in private banks without triggering acquisition norms.RBI has…
NEW DELHI: Driven by an uptick in food prices and pressure on energy prices due to the West Asia conflict, wholesale price index (WPI) based factory gate inflation surged for the ninth consecutive month to touch a 27-month high of 9.9% in June, as against 9.7% in May, official data showed.Similarly, the inflation in output…
