New Delhi | Petrol and diesel prices in the country rose again sharply by 28 paise and 31 paise per litre respectively, on Friday as Oil Marketing Companies (OMCs) continued to cover for their losses on holding back price rise for past 18 days due to state elections. This is fourth increase in fuel prices in […]
Category: Business
Former Maruti Suzuki MD Jagdish Khattar no more
New Delhi | Former bureaucrat and Managing Director of automobile major Maruti Suzuki Jagdish Khattar passed away on Monday. According to reports, Khattar suffered a heart attack. He leaves behind a rich legacy, born in present day Pakistan, Khattar finished his education from Delhi University before joining the Indian Administrative Service (IAS). As an IAS he […]
Vaccinating everyone above 18 to cost just 0.36% of GDP: India Ratings & Research
New Delhi | Vaccinating everyone above 18 in the phase III of the inoculation drive will cost only about 0.36 per cent of the GDP, ratings agency India Ratings and Research said. As the second wave of Covid-19 sweeps the country with alarming speed and severity, the Centre recently announced a liberalised and accelerated phase III […]
Banks in UP to open for 4 hrs only
Lucknow | From Thursday until May 15, banks in Uttar Pradesh will be open for customers for only four hours on working days. The banks will be open from 10 a.m. to 2 p.m. A decision to this effect was taken in view of the surge in Covid cases at a meeting of the State Level […]
Traders lose business worth Rs 46,000 cr amid curfews, curbs
New Delhi | Retail and wholesale businesses across the country have taken a hit of Rs 46,000 crore in the last 10 days amid curfews and partial lockdowns across several states. According to the Confederation of All India Traders (CAIT), retail businesses have taken a hit of Rs 32,000 crore, while wholesale businesses have suffered a […]
Rupee drops below 75/$ amid surging Covid cases
Mumbai | The Indian rupee continued to depreciate for the sixth consecutive day, breached the 75 per US dollar mark amid rising cases of Covid-19 and concerns of fresh localised lockdowns. On Monday, the rupee closed at 75.05 per dollar after weakening to an over eight-month low of 75.14 against the greenback. Further, a freefall in […]
Mukesh Ambani India’s richest with $84.5 bn, Gautam Adani 2nd: Forbes
New Delhi | Reliance Industries Chairman Mukesh Ambani topped the Forbes list of India’s 10 richest billionaires with a net worth of $84.5 billion, followed by Adani Group chief Gautam Adani. Amid the Covid-19 pandemic, Ambani accomplished a fund-raising feat, garnering $35 billion through a string of deals to achieve his target of reducing his flagship […]
Indian economy to grow by historic high level of 12.5%: IMF
United Nations | Emerging from the Covid-19 disruptions, India’s economic growth is projected to reach the historically high level of 12.5 per cent this fiscal year and also regain its status as the world’s fastest-growing economy, the International Monetary Fund (IMF) reported on Tuesday. India’s gross domestic product (GDP) growth is projected to moderate to 6.9 […]
Mastercard invests $100 mn in Airtel Africa’s mobile money biz
New Delhi | Airtel Africa on Thursday announced the signing of an agreement under which global payments technology major Mastercard will invest $100 million in Airtel Mobile Commerce BV (AMC BV), a wholly owned subsidiary of Airtel Africa Plc. AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations and is […]
Centre withdraws decision on cut in PPF, NSC rates
New Delhi | The Finance Ministry has withdrawn its order of a massive cut in interest rates on schemes like PPF and NSC. “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued […]