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Economy
Road developers’ revenue growth to be in the range of 5-7 per cent in next two years
Road developers have clocked an average 13 percent revenue growth each year in the past five years.
Economists predict growth rates for June quarter from 6% to 7%
MUMBAI: Ahead of the official release of June quarter growth numbers next week, economists have offered differing forecasts, with rating agency Icra pegging the lowest at 6% and German brokerage Duestche Bank at the highest at 7% and…
Bangladesh owes USD800 million to Adani Power Ltd
NEW DELHI: Amid student-led protest in Bangladesh, Adani Power Limited, the power generating unit of Adani Group, has accumulated unpaid dues of up to $800 million from the country.
According to a report, Bangladesh Bank’s…
‘India to miss 15% natural gas target’
NEW DELHI: India may not meet its target of increasing the share of natural gas in the country’s energy mix to 15% by 2030, according to Spencer Dale, group chief economist at BP plc.
Dale, speaking to the press on Wednesday, also…
Single-digit pay hike in IT new reality
BENGALURU: Last week when Nasdaq-listed Cognizant rolled out an increment to employees after a four-month delay, it had to face criticism on social media as wage hike starting as low as 1%.
Soon, the company in a statement said the merit…
At $242 billion, India 12th largest holder of US treasuries in June
MUMBAI: Given the high yields that the US government debt has been offering since the interest rates there peaked to a multi-decadal high, the Reserve Bank has been ramping up its investments in the world’s most sought-after public debt…
India must create up to 148 million jobs by 2030, says IMF official
NEW DELHI: India needs to create an additional 148 million jobs by 2030 given the population growth, IMF’s First Deputy Managing Director Gita Gopinath said on Saturday.
“If you look at India’s projections in terms of population growth,…
Windfall tax on crude petroleum reduced to Rs 2,100 per tonne
NEW DELHI: The government has slashed windfall tax on domestically produced crude oil to Rs 2,100 per tonne, from Rs 4,600 per tonne with effect from Saturday.
The tax is levied in the form of Special Additional Excise Duty (SAED). The…
Buyback tax rules inequitable: Industry
NEW DELHI: Industry representatives have recently submitted representations to the finance minister, urging a reconsideration of new taxation rules concerning the buyback of shares. The 2024 Union Budget imposed up to a 39% tax on…
DPIIT relooks at FDI from China: Govt sources
NEW DELHI: The Department for Promotion of Industry and Internal Trade (DPIIT) is considering revisiting the restrictions placed on foreign direct investment (FDI) from China as part of a broader evaluation of the country’s foreign…
India aims to become global semiconductor manufacturing hub – Modi
NEW DELHI: Prime Minister Narendra Modi announced that many global companies are eager to invest in India, with the nation poised to become a global leader in semiconductor production.
In his speech from the Red Fort, Modi emphasised the…
Study reveals success strategies of startups
Mumbai: In an interesting study, Indian Institute of Management Lucknow researchers have decoded the success strategies of unicorn startups -- companies that surpass a billion-dollar valuation. The findings reveal that startups led by…
Hindenburg Research warns of something big in India soon
CHENNAI: Short-seller Hindenburg Research is at it, promising 'something big soon' in India again.
The announcement came in an early morning India time tweet.
The tweet has gone viral and elicited a range of responses. Hindenburg has…
India’s forex reserve scale a new high of $674.91 billion
New Delhi: India's foreign exchange reserve has touched a new high at $674.91 billion for the reporting week to August 2, ratcheting up a good $7.53 billion in the reporting week, indicating a robust external sector performance, according…
FM Sitharaman asserts GST on insurance decisions rest with GST Council
NEW DELHI: Finance Minister Nirmala Sitharaman emphasized in the Rajya Sabha on Thursday that the decision regarding the Goods and Services Tax (GST) on health and life insurance premiums rests solely with the GST Council. She stated that…
Rupee hits record low of 83.80 vs US dollar in early session.
MUMBAI: Rupee opened on a muted note and fell to an all-time low of 83.
80 against the US dollar on Monday, as the risk off situation in world markets kept the dollar well bid.
Forex traders said the sharp downfall in the domestic…
Next round of India-ASEAN trade agreement review talks in November
NEW DELHI: The next round of talks for the ongoing review meeting of the India-Asean free trade agreement in goods will be held in November, an official statement said on Saturday.
The third round of the negotiations was concluded on…
India achieves highest global growth rate in agricultural GDP
NEW DELHI: Agriculture has been a key focus area of India's development strategy, achieving a remarkable growth rate of 5 percent in the farm sector over the seven years from 2016-17 to 2022-23, according to Niti Aayog member Ramesh Chand.…
India’s forex reserves drop by USD 3.4 billion
MUMBAI: Indicating serious intervention in the forex market to defend the rupee that has plumbed to record lows in the week, the forex reserves have come off the record highs, falling by $3.4 billion to $667.39 billion for the week ending…
Gross GST collection for July rises 10.3% to Rs 1.82 lakh crore
NEW DELHI: After facing criticism for not officially announcing the monthly GST collection numbers in June, the government on Thursday announced the revenue figures for July 2024. The gross GST collection in July rose 10.3% to Rs 1.82 lakh…