Mumbai | Pallonji Shapoorji Mistry, the billionaire realtor and industrialist, and Chairman Emeritus of the venerable Shapoorji Pallonji Group, passed away at his home here late last night, official sources said here on Tuesday. He was 93 and is survived by his sons Shapoorji and Cyrus P. Mistry — latter who was in the limelight for […]
Category: Business
Cabinet approves auction of 5G Spectrum
New Delhi | The Union Cabinet on Wednesday approved the Telecom department’s proposal to conduct a spectrum auction through which spectrum will be assigned to the successful bidders for providing 5G services to public and enterprises. A total of 72097.85 MHz of spectrum with a validity period of 20 years will be put to auction to […]
Wholesale inflation hits record high in May at 15.88%
New Delhi | India’s wholesale inflation gauged by the Wholesale Price Index, with base year as 2011-12, rose to a record high of 15.88 per cent in May 2022 from 15.08 per cent in April, official data revealed on Tuesday. The wholesale inflation has been in double digit for over a year now. The high rate […]
Rupee touches fresh record low against US dollar, closes at 78.04
New Delhi | The Indian currency rupee breached the Rs 78 mark against the dollar for the first time ever on Monday, hitting a new lifetime low against the US dollar. The rupee closed Monday’s trade at Rs 78.04 per US dollar, after depreciation as low as Rs 78.29 in intra-day deal. “There is no fresh […]
RBI rubbishes reports of currency notes with faces of Tagore, Kalam
New Delhi | The central bank Reserve Bank of India (RBI) cleared the air by saying that it has no proposal to bring about changes to the existing currency and bank notes by replacing the face of Mahatma Gandhi with that of others. “There are reports in certain sections of the media that the Reserve Bank […]
Fake reviews on e-commerce platforms under Centre’s radar
New Delhi | Did you ever get misled due to a review of a product that you bought online? Did you feel cheated after buying something online as you found it did not conform with the reccos online? The government claims it is alive to such situations and troubles faced by the consumers and now called […]
Excise duty cut on petrol, diesel; subsidy announced for Ujjwala gas beneficiaries
New Delhi | Amidst rising energy prices and inflation, the Central excise duty on petrol has been cut by Rs 8 per litre and on diesel by Rs 6 per litre, reducing the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre, Union Finance Minister Nirmala Sitharaman said. “Today, […]
Grounded airline Jet Airways to fly soon, DGCA grants operator certificate
New Delhi | Civil aviation regulator, the Directorate General of Civil Aviation (DGCA) on Friday granted the air operator certificate (AOC) to Jet Airways, bringing the grounded airline yet another step closer towards relaunching of its services. The Naresh Goyal-founded airline operated its first commercial flight in May 1993 but had ceased operations in early 2019 […]
Now this company lays-off 600 employees
New Delhi | Pre-owned e-commerce platform CARS24 on Thursday said that around 600 employees have been let go based on their poor performance and not owing to any “cost cuts”. Calling it “business as usual”, the company. which has nearly 9,000-strong workforce, and is in the process of hiring more globally, said its business is actually […]
Rupee hits new low, falls 14 paise to 77.69 per US dollar
New Delhi | The Indian currency rupee touched yet another all-time low against the US dollar earlier this morning. The rupee fell 14 paise to 77.69 per US dollar. Money market participants are currently closely watching the domestic share market for clues to fund flows. An expectation of tightening monetary policy rates in the US also […]