Times of India : business
14h58 27  février
We must continue to trade with China: Bajaj Auto MD Rajiv Bajaj
Favouring continuation of trade with China, Bajaj Auto managing director Rajiv Bajaj on Saturday said goods should be procured from wherever they are most competitively available. He was speaking at a session on ’Building Reliable Supply Chain’ at the second day of the three-day virtual Asia...
Low gold prices spark flurry of activity in India
Physical gold demand in India gained momentum this week as retail buyers and jewellers lapped up bullion at near eight-month low prices, while Singapore continued to see steady interest for both gold and silver.
IndiGo to operate 5,000-series flights from T1 in Mum
IndiGo will be operating flight numbers with subset series 6E 5500-6E 5900 to and from Terminal 1 (Vile Parle) at the Mumbai International Airport from March 10 as directed by Mumbai International Airport Limited (MIAL), said the airline in a press statement on Saturday.
PM asks toy makers to use more eco-friendly material
Prime Minister Narendra Modi on Saturday exhorted toy manufacturers to use less plastic and more eco-friendly and recyclable material in a bid to increase the share of the domestic industry in the global market. Inaugurating the first India Toy Fair, the Prime Minister said, We have to become...
US owes India 216bn as debt soars to 29tn’
The US, the world’s largest economy, owes India 216 billion in loan as the country’s debt grows to a record 29 trillion, an American lawmaker has said, cautioning the leadership against galloping foreign debt, the largest of which comes from China and Japan. In 2020, the US debt was 23.4...
Maruti crosses 20 lakh cumulative exports mark
The country’s largest carmaker Maruti Suzuki India (MSI) on Saturday said it has achieved the milestone of 20 lakh cumulative exports. The auto major achieved the milestone as a batch of products comprising S-Presso, Swift and Vitara Brezza left for South Africa from the Mundra Port in Gujarat.
50L users threshold set for ’social media intermediary’
The government has fixed fifty lakh registered users as the threshold for defining ’significant social media intermediary’, which will have to adhere to additional obligations and compliance under the new IT rules that seek to crack down on misuse of social media platforms.
Rising fuel cost pushes India Inc to hike prices
Rising fuel expenses are having a cascading effect on manufacturing costs across sectors, which is resulting in higher prices for the end consumer. On Thursday, RBI governor Shaktikanta Das also pointed out that rising fuel prices have a cost-push factor.
Indian Oil plans 4.5bn Panipat refinery expansion
Indian Oil Corp will invest Rs 32,946 crore ( 4.46 billion) to raise the capacity of its Panipat refinery by two-thirds to 500,000 barrels per day (bpd) by September 2024, the country’s top refiner said on Friday.
Zomato to shut office catering business
The Delhi NCR-headquartered food tech company had acquired Bengaluru-based online caterer and office canteen aggregator Tonguestun Food in 2018 for an estimated 18 million to foray into the space, which industry executives said is highly unorganised.
Gadkari urges MSMEs to install rooftop solar
The minister for micro, small and medium enterprises (MSMEs) and road transport & highways said rooftop solar offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost.
Need same inflation target for 5 more yrs: RBI
The Reserve Bank of India has said that the current inflation target of 2-6% should continue for the next five years as consumers still have expectations of an elevated inflation. The central bank’s statement comes at a time when some commentators have said that it should be more tolerant of...
Covid claims cross Rs 9,000 crore mark: Irdai
nsurance companies have settled claims worth Rs 9,078 crore arising out of the coronavirus pandemic, regulator Irdai’s chairman S C Khuntia said on Friday.
FM highlights India’s Covid response at G20 meet
Speaking at the virtual meeting of the G20 finance ministers and central bank governors, she said India’s domestic policies have been based broadly on supporting citizens through measures such as credit guarantees, direct transfers, food guarantees, economic stimulus packages and accelerating...
Trading halt: NSE defends decision to stay with primary site
The country’s largest stock bourse NSE on Friday said it stuck to the primary site for carrying out trading on Wednesday and did not switch to the disaster recovery site after a considered view while dealing with telecom connectivity issues which led to the nearly four-hour halt in trading earlier...
23h57 26  février
Economy out of recession, grows 0.4% in Q3
Growth returned to the economy in the October-December quarter of 2020-21 helping it to move out of the recession that had gripped following one of the strictest Coviv-19 lockdowns imposed last year. The contraction in the June quarter was 24.4% while in the September quarter it was 7.3%. An...
02h00 27  février
Rupee sinks 105 paise, worst fall since March
The domestic currency crashed by over a rupee against the dollar on Friday to close at 73.47 the biggest single-day fall since the post-pandemic crash on March 23, 2020. Bankers said that the rupee and government bonds fell in tandem with the selloff in equities and a surge in the dollar as...
RBI extends due date for NPCI-rival NUE
The RBI has extended the deadline for submitting applications to set up a new umbrella entity (NUE) in the payments system that will rival the National Payments Corporation of India (NPCI). Earlier, interested parties were to submit their application by February 26, which has now been extended to...
19h15 26  février
Q3 growth shows eco returned to pre-pandemic times’
The GDP growth of 0.4 per cent in the December quarter shows that the economy has returned to pre-pandemic times and reflects further strengthening of a V-shaped recovery, the finance ministry said on Friday.
Scheduled international flight suspension extended
The government has extended suspension of scheduled international flights till March 31, 2021. However Vande Bharat Mission and scheduled flights under the travel bubbles India has so far created with 27 countries like US, Germany and France will continue and people eligible as per government norms...