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India's merchandise trade deficit falls to $24.16 bn in August | India's merchandise trade deficit contracted to $24.16 billion in August, Commerce Secretary Sunil Barthwal said. While the country's merchandise exports fell to $34.48 billion in August as compared to last year, imports stood at $58.64 billion. India's service exports in August were at $26.39 billion while imports were at $13.86 billion. | ['business'] | 19-09-2023 |
Sensex, Nifty close at fresh closing highs | Benchmark indices Sensex and Nifty closed at new record highs on Friday. Sensex closed the day with a gain of 319.63 points, settling at 67,838.63. Meanwhile, Nifty surged by 89.25 points to reach a closing figure of 20,192.35. Among the Nifty companies, 32 showed gains, while 18 recorded declines. | ['business'] | 19-09-2023 |
22 nations exploring bilateral trade with India in rupee: FM | Around 22 countries are negotiating and exploring bilateral trade with India in rupee, Nirmala Sitharaman, Finance Minister said. "Also many of those countries are running short on dollar reserves, but yet their basic trade cannot be stopped," Sitharaman told NDTV. "They (nations) find it easy to talk to us about having rupee trade to achieve their development goals," she said. | ['world', 'business'] | 19-09-2023 |
Byron Allen submits $10 bn bid for Disney's ABC, other networks | Media entrepreneur Byron Allen made a $10-billion bid to buy Walt Disney's ABC television network and assets including FX and National Geographic channels. Disney also held exploratory discussions about selling ABC to regional TV station operator Nexstar Media, Reuters cited sources as saying. Disney CEO Bob Iger said in July the company could sell some of its traditional TV assets. | ['business'] | 19-09-2023 |
Which are the 8 Indian firms on TIME's list of 750 best companies? | Eight Indian companies have featured on TIME magazine's list of World's Best Companies of 2023. Among 750 companies on the list, Infosys ranks at 64 followed by Wipro, Mahindra Group and Reliance Industries. The list also includes HCL Technologies, HDFC Bank, WNS Global Services and ITC Limited. The ranking is based on companies' revenue growth, employee-satisfaction surveys, and ESG data. | ['business'] | 19-09-2023 |
Probe into fake GST input tax credit to continue till Dec: Report | The Goods and Services Tax (GST) authorities are likely to continue the follow-up investigations on over 1.25 lakh entities till December to plug revenue leakages in an investigation relating to fake input tax credit (ITC), a government official told Moneycontrol. ITC allows GST taxpayers to claim credit for taxes paid on inputs used in the production of goods or services.
| ['business'] | 19-09-2023 |
X to try to settle mass layoff suits filed by 2,000 staff: Report | Elon Musk-owned X has agreed to try to settle lawsuits filed by almost 2,000 employees over mass layoffs which took place after Musk bought Twitter, Bloomberg reported. "After 10 months of pressing them in every direction, we've succeeded in getting Twitter to the table," the laid-off employees' attorney said. Private negotiations with mediator are set for December 1 and 2. | ['business', 'technology'] | 19-09-2023 |
Infosys only Indian firm in TIME magazine's World's 100 Best Companies list | IT giant Infosys is the only Indian company in TIME magazine's World's 100 Best Companies of 2023 list. Infosys has been placed at the 64th spot in the list that is topped by tech companies like Microsoft, Apple, Alphabet and Meta Platforms. Infosys, which has an overall score of 88.38, has an employee satisfaction rank of 103. | ['business', 'technology'] | 19-09-2023 |
Australian CEO apologises over call for unemployment to rise 50% | Tim Gurner, one of Australia's richest persons, has apologised after he said at a conference that unemployment must rise 40-50% to fix issue of workers becoming "arrogant" during COVID-19 pandemic. Gurner said his comments were wrong and that he deeply regrets saying them. "I sincerely regret that my words didn't convey empathy for those [who lost their jobs]," Gurner said. | ['business'] | 19-09-2023 |
Thousands of workers strike against 3 US carmakers together for the first time | Thousands of members of United Auto Workers (UAW) union went on strike against three of America's biggest carmakers simultaneously for the first time. The action comes after a deadlock in negotiations between the union and the companies - General Motors, Ford and Stellantis. The UAW has demanded a 40% wage hike for its members as well as greater job security. | ['automobile', 'business'] | 19-09-2023 |
List of top 10 companies based on employee satisfaction rating released | Microsoft has been ranked 1st based on employee satisfaction rating, according to TIME magazine. Alphabet has been ranked second, followed by Meta Platforms, Apple, Delta Air Lines, Amazon, Volkswagen Group, Dell Technologies, Accenture and Roche. Infosys has been ranked 103 on the list based on employee satisfaction rating. | ['business', 'technology'] | 19-09-2023 |
France's Total in talks to invest $700 mn in Adani firm: Report | French oil major TotalEnergies is in talks to invest $700 million in renewable energy projects developed by Adani Green Energy, Bloomberg reported. If the talks are successful, the investment will mark the first public deal between the two firms since Hindenburg Research released a report on the conglomerate. TotalEnergies already owns a 37.4% stake in Adani Total Gas. | ['business'] | 19-09-2023 |
SpiceJet completes payment of $1.5 million to Credit Suisse | SpiceJet said it has paid $1.5 million to Credit Suisse after the Supreme Court on Monday directed the airline to pay the amount by Friday over a case pertaining to $3.9-million unpaid dues. The Supreme Court had warned of "drastic action" if SpiceJet didn't complete the payment. SpiceJet also paid ₹100 crore to Kal Airways on Tuesday. | ['business'] | 19-09-2023 |
11 Indian firms to raise over ₹10,000 crore via IPOs in September | A total of 11 Indian firms, including JSW Infrastructure and Yatra Online, are aiming to raise over ₹10,000 crore via IPOs in September this year. Of the 11 firms, three (Ratnaveer Precision Engineering, EMS Limited and Rishabh Instruments) have already completed their IPOs. This week, RR Kabel, Samhi Hotels, Zaggle Prepaid and Yatra Online aim to raise over ₹4,600 crore. | ['business', 'startup'] | 19-09-2023 |
Sensex, Nifty open at new record highs | Benchmark indices Sensex and Nifty opened at new record highs on Friday. The Sensex touched an all-time high of 67,774, whereas the Nifty hit 20,173. Bajaj Auto, Hindalco Industries, Tata Steel, JSW Steel and Wipro were among the major gainers on Nifty. Meanwhile, Hindustan Unilever, Asian Paints, ITC, Titan Company and Adani Ports were among the major losers. | ['business'] | 19-09-2023 |
Which are the 10 best companies in the world according to TIME? | Microsoft has been ranked 1st among 10 best companies in the world, according to TIME magazine. The tech giant is followed by Apple, Alphabet, Meta Platforms, Accenture, Pfizer, American Express, Electricite de France, BMW Group and Dell Technologies. Infosys is the only Indian firm on TIME's list of 100 best companies and has been ranked 64. | ['business', 'technology'] | 19-09-2023 |
Arm shares end 25% higher on debut day after 2023's biggest US IPO | Shares of SoftBank-backed chipmaker Arm Holdings ended 24.7% higher on Thursday after they debuted on Nasdaq following the year's largest US IPO. The shares, whose IPO price was $51, opened with a 10% premium at $56.1 and closed at $63.59. Following the trading debut, Arm Holdings' fully-diluted market capitalisation is $67.9 billion. Arm had raised $4.87 billion through the IPO. | ['business', 'technology'] | 19-09-2023 |
Cognizant liable to pay ₹4,853-crore tax for FY17 share buyback | Income Tax Appellate Tribunal (ITAT) denied Cognizant's appeal and ruled that the Income Tax Department's notice in relation to the firm's ₹19,000-crore share buyback conducted in FY17 is valid. ITAT said Cognizant is liable to pay ₹4,853 crore as dividend distribution tax. "It's clearly established that the scheme was implemented with a view to evade legitimate tax," ITAT's ruling said. | ['business'] | 19-09-2023 |
Scrapping fossil fuels may cause energy chaos: OPEC Secy-General | OPEC's Secretary-General Haitham Al Ghais warned against abandoning fossil fuels. Cutting out hydrocarbons "would lead to energy chaos on a potentially unprecedented scale, with dire consequences for economies and billions of people across the world," Al Ghais said. "We may be witnessing the beginning of the end of the fossil-fuel era," IEA Executive Director Fatih Birol had said.
| ['business'] | 19-09-2023 |
I-T Dept conducts survey at Alkem Labs' offices, subsidiaries | The Income Tax (I-T) Department is conducting a survey at multiple offices and subsidiaries of Alkem Laboratories. The company said it's fully cooperating with the officials. "This has no impact on the operations of the company," it said. Once the survey concludes, the company said it'll update the stock exchanges in case of any material information/event.
| ['business'] | 19-09-2023 |
'Fair share' charge on OTTs doesn't violate net neutrality: COAI | Cellular Operators Association of India (COAI) said their recommendation that over-the-top (OTT) players pay telecom companies towards network cost doesn't violate net neutrality principle. This comes amid a debate over net neutrality with telecom companies such as Reliance Jio, Bharti Airtel and Vodafone Idea suggesting that OTT players pay a "fair share" based on the number of users they have.
| ['business', 'technology'] | 19-09-2023 |
India becomes world's 13th country to issue metrology certificates | India has been authorised to issue Internationally accepted OIML (International Organization of Legal Metrology) certificates, becoming the thirteenth nation with the authority to do so. Domestic manufacturers can get weighing and measuring instruments tested in India, instead of approaching another country, leading to cost savings. These manufacturers can now also export the instruments. | ['business'] | 19-09-2023 |
Germany increases imports of Russian oil via India: Reports | Germany has reportedly increased its imports of Russian oil through India, using India as a substitute supplier after EU banned almost all crude imports from Moscow. Germany bought €451 million worth of Indian petroleum products between January and July, AFP reported. The imports from India "were mainly gas oils...used to produce diesel or heating oil," a report claimed. | ['world', 'business', 'national'] | 19-09-2023 |
ECB raises interest rates by 25 basis points in 10th straight hike | The European Central Bank (ECB) raised interest rates by 25 basis points taking the deposit rate to 4%, its highest level since the euro's introduction in 1999. This is the 10th straight rate hike by the bank. The central bank said rates had now reached levels that would help bring inflation back to target.
| ['business'] | 19-09-2023 |
'Annadata' farmers can become our 'powerdata': Gadkari on biofuels | Union Minister Nitin Gadkari said the government isn't looking to increase tax on diesel vehicles but is encouraging green fuel usage. "I'm not against diesel or diesel cars...I'm not advocating for a tax increase on diesel vehicles. But we should move towards green fuels," he told CNBC-TV18. "Farmers who've been our 'annadata' can now also become our 'powerdata'," he said. | ['automobile', 'business'] | 19-09-2023 |
After iPhone 15, iPhone 15 Plus to be made in India: Report | Apple successfully started the production of iPhone 15 in India and will begin manufacturing the iPhone 15 Plus model in the country in the next quarter, The Economic Times reported. Foxconn's plant near Chennai has begun preparations to make the iPhone 15 Plus locally, the report added. Apple is not looking to produce the iPhone Pro series in India. | ['business', 'technology'] | 19-09-2023 |
Govt could make ISRO's NavIC-support must for all devices: MoS IT | Centre is planning on making it mandatory for all devices to support homegrown navigation system NavIC (Navigation with Indian Constellation), MoS for IT Rajeev Chandrasekhar said. ISRO's NavIC, powered by seven satellites, provides coverage of India and neighbouring areas, including the Indian Ocean. The government plans to provide incentives for making NavIC-powered chips in system design.
| ['automobile', 'business', 'technology'] | 19-09-2023 |
Dubai Aerospace detects corrosion in plane leased to Go First | Dubai Aerospace Enterprise (DAE) Capital told the Delhi High Court it detected corrosion of some parts and 'a greenish deposit' on a plane leased to Go First. The DAE submitted pictures to the court showing corroding plane parts and said the aircraft would "continue to deteriorate, resulting in a sharp decline in the value of the asset". | ['business'] | 19-09-2023 |
RBI releases list of 15 NBFCs in the Upper Layer | The RBI has released the list of NBFCs in the Upper Layer (NBFC-UL) under Scale Based Regulation for 2023-24. It includes LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons Private Limited among others. Once an NBFC is classified as NBFC-UL, it is subject to enhanced regulatory requirements, at least for a period of five years from its classification. | ['business'] | 19-09-2023 |
China pessimism not overdone, upbeat about India: DBS CEO | DBS Group CEO Piyush Gupta said current widespread pessimism about China's economy was not "overdone". "There are some real headwinds in China in the short-term," he told Reuters, noting the crisis in its debt-ridden property sector. He was also upbeat about India, where the bank plans to triple its business in the next five years.
| ['business'] | 19-09-2023 |
PM shares video showing benefits of ₹49,000-cr MP refinery project | Prime Minister Narendra Modi has shared a video showing the benefits of the ₹49,000-crore refinery expansion project that will be undertaken in Madhya Pradesh's Bina. The project will lead to the refinery's capacity expanding from 7.8 million metric tonnes per annum (MMTPA) to 11 MMTPA. Further, an ethylene cracker complex with 1.2 MMTPA capacity will be built. | ['business', 'national'] | 19-09-2023 |
92% balancesheet refinance, we want to hike direct finance: SIDBI | SIDBI Chairman S Ramann said 92% of the bank's balancesheet of ₹4 lakh crore is refinance and SIDBI wants to increase the share of direct finance. We can do so through formal MSMEs (via branches) and through informal micro entities like street vendors, Ramann said. "We've a clear mandate to...push as much credit to the MSME sector," he added. | ['business'] | 19-09-2023 |
Skill India Digital launched to find job, training opportunities | Skill Development Minister Dharmendra Pradhan has launched the Skill India Digital (SID) platform to make it easier for the public to find job and training opportunities. SID is a comprehensive information gateway for all government skilling and entrepreneurship initiatives. A revolution in learning and skill development, SID will enable skilling for all, anywhere, anytime, Pradhan said. | ['business', 'national'] | 19-09-2023 |
Auto dealers should open vehicle scrapping facilities: Gadkari | Union Minister Nitin Gadkari said automobile dealers should also open vehicle scrapping facilities. He added that the government is encouraging a circular economy and will give permission to dealers to start vehicle scrapping facilities. He said India is the world's fastest growing major economy and auto dealers will play an important role in making India a $5 trillion economy.
| ['business'] | 19-09-2023 |
Amazon to stop accepting ₹2,000 notes from September 19 | Amazon India will stop accepting ₹2,000 notes for cash on delivery (COD) payments and cashloads from September 19, 2023, the website's FAQs section said. "This is in accordance with the directions issued by the Reserve Bank of India on May 19, 2023," it added. The announcement comes as the September 30 deadline for depositing and/or exchanging the ₹2,000 banknote nears. | ['business'] | 19-09-2023 |
Ex-SBI Chairman Rajnish Kumar appointed Mastercard India Chairman | Former SBI Chairman Rajnish Kumar has been appointed as Chairman of Mastercard India. "In this critical, non-executive advisory role, Kumar will guide Mastercard's South Asia executive leadership team...in navigating the domestic payments landscape," Mastercard India said. Kumar currently serves as Chairman of BharatPe's board and also as an Independent Director on multiple firms' boards. | ['business'] | 19-09-2023 |
94% family businesses destroy themselves by 3rd generation: Munjal | Hero Enterprise Chairman SK Munjal said there's enough research to show that about 94% of family businesses "end up destroying themselves by the third generation". "More and more families are starting to bring experts and advisors...to figure out how to ensure continuation of the business and family relationships," Munjal said. Non-business players have impact on family businesses, he added. | ['business'] | 19-09-2023 |
Axis Finance files plea against ZEE-Sony merger approval by NCLT | Axis Finance has approached the National Company Law Appellate Tribunal (NCLAT) against the National Company Law Tribunal's (NCLT) order approving the merger of Zee Entertainment Enterprises Ltd (ZEEL) and Sony. Earlier, IDBI Bank approached the appellate tribunal to challenge the NCLT's approval for ZEE-Sony merger. The NCLAT has served notice to the company in response to Axis Finance's plea. | ['business'] | 19-09-2023 |
Govt shares graph showing rise in domestic flyers from 2022 to 2023 | The government shared a graph showing the rise in the number of domestic flyers in the January to August period of 2023 as compared to the corresponding period of last year. While over 10 crore passengers were carried by domestic planes this year, the number was over 7 crore in 2022. An annual growth of 30.55% was registered, DGCA said. | ['business', 'national'] | 19-09-2023 |
Jet Airways Founder Naresh Goyal sent to 14-day judicial custody | Jet Airways Founder Naresh Goyal has been remanded to 14-day judicial custody in a ₹538-crore fraud case involving Canara Bank. The fraud case stems from CBI's FIR against the airline, Goyal, his wife and some former executives. Goyal was arrested by the ED on September 1 under Prevention of Money Laundering Act after hours of questioning. | ['business'] | 19-09-2023 |
40 online gaming firms to get notices for tax evasion: Report | About 40 online gaming firms will get show-cause notices for alleged tax evasion after the Supreme Court stayed a Karnataka High Court order quashing a ₹21,000-crore GST evasion notice to Gameskraft, Moneycontrol reported. Since activities of Gameskraft and other gaming firms are identical, authorities had held back notices. Two ₹3,000-crore tax evasion notices have already been sent to two firms. | ['business', 'startup'] | 19-09-2023 |
Fitch retains India's growth forecast for FY24 at 6.3% | Fitch Ratings retained India's growth forecast for FY24 at 6.3% saying the economy continues to show resilience despite tighter monetary policy and weakness in exports. "The threat of El Niño means that inflation could exceed our forecasts...although the impact on consumers and the economy is likely to be temporary," Fitch added. It expects 2023-end retail or CPI inflation at 5.5%.
| ['business'] | 19-09-2023 |
Mila Kunis' web series Stoner Cats fined $1mn for illegal NFT sale | Stoner Cats 2, which offered NFTs based on Mila Kunis-backed web series Stoner Cats, was fined $1 million for unregistered NFT offering. Over 10,000 NFTs, offered for about $800 each, were sold out in 35 minutes. Stoner Cats 2 encouraged individuals to trade NFTs, leading buyers to spend over $20 million in 10,000 transactions. Stoner Cats featured Ashton Kutcher too. | ['business', 'technology'] | 19-09-2023 |
Goldman fires top Indian-origin exec Moorthy over lapses: Report | One of the largest banks in the US, Goldman Sachs, has fired its Indian-origin Global Head of Transaction Banking Hari Moorthy over compliance lapses, Bloomberg reported. Goldman fired several leaders of the unit, who communicated on unauthorised channels and didn't comply with an internal review. Goldman's treasurer Philip Berlinski will take over the day-to-day management of the unit. | ['business'] | 19-09-2023 |
Tata Group mcap crosses ₹25 lakh cr, TCS contributes most: Report | Tata Group's combined mcap crossed ₹25 lakh crore on Wednesday, with Tata Consultancy Services (TCS) contributing the most (52%), CNBC-TV18 reported. Except Rallis, all listed Tata Group companies have generated positive returns so far in 2023. The largest contributors to group's mcap in 2023 are TCS (₹1.14 lakh crore), Tata Motors (₹90,259 crore), Titan (₹59,100 crore) and Trent (₹25,384 crore). | ['business'] | 19-09-2023 |
Sensex, Nifty open at record highs | Benchmark indices scaled fresh record highs on Thursday. The Sensex was trading at 67,761, whereas the Nifty was trading at 20,167. From the Sensex stocks, Tata Steel, JSW Steel, Wipro, SBI, and Tech Mahindra opened with gains, while only HUL, ITC, and UltraTech Cement opened with cuts. | ['business'] | 19-09-2023 |
Unemployment has to jump 50%, need pain in economy: Australian CEO | Australian property developer Gurner Group's CEO Tim Gurner said to fix issue of workers becoming "arrogant" during COVID-19 pandemic, unemployment needs to jump 40-50%. "We need to see pain in economy. We need to remind people that they work for the employer, not the other way around," Gurner said. We've to "kill that attitude" by "hurting the economy", he added. | ['business'] | 19-09-2023 |
Google parent Alphabet lays off hundreds of employees | Google parent Alphabet is laying off hundreds of employees from its global recruiting team, it said on Wednesday. It will also help the workers search for roles within the company and elsewhere. California-based Alphabet cut about 12,000 jobs in January, reducing its workforce by 6%. | ['business', 'technology'] | 19-09-2023 |
Citigroup CEO Fraser restructures businesses, plans job cuts | Citigroup is preparing for job cuts as CEO Jane Fraser restructures the company to operate from five main businesses. The company will no longer have three regional chiefs overseeing its business in about 160 countries around the world. "As Citi swiftly transitions to this new model...firm is committed to retaining top talent...supporting employees who're leaving the company," the bank said. | ['business'] | 19-09-2023 |
Cash-strapped Dunzo partners with OneTap to pay August salaries | Cash-strapped Dunzo has partnered with OneTap, an RBI-registered NBFC, to pay August salaries to employees. "Please be assured that this partnership is between Dunzo and OneTap, and hence, all repayment liability rests solely with Dunzo...For team members, this will be treated as a regular salary credit with no interest or repayment obligations," Dunzo's email to employees on Wednesday said. | ['business', 'startup'] | 19-09-2023 |
Global debt falls for 2nd yr, may return to its rising trend: IMF | Global debt burden retreated for the second straight year, but remains above its already-high pre-pandemic level, International Monetary Fund's (IMF) data showed. Total global debt stood at 238% of global GDP in 2022, 9 percentage points higher than in 2019. "Policymakers will need to be unwavering over the next few years in their commitment to preserving debt sustainability," IMF warned.
| ['world', 'business'] | 19-09-2023 |
US CPI inflation rises 0.6% in Aug, largest gain since June 2022 | US consumer prices increased by 0.6% on a monthly basis in August, the largest gain since June 2022, the Labor Department said on Wednesday. The CPI had risen 0.2% for two straight months. In the 12 months through August, the CPI jumped 3.7% after climbing 3.2% in July. This was driven by a surge in the cost of gasoline.
| ['business'] | 19-09-2023 |
Amazing what is happening with AI: Salesforce CEO Marc Benioff | Salesforce CEO Marc Benioff described advances in Artificial Intelligence (AI) as "amazing" and "incredible". Technology is moving faster than ever, right from cloud, to mobile, to social and "now a burst of AI" is "nothing like any of us have seen before", Benioff said. "It is amazing what is happening with AI...It is incredible what is going on," he said.
| ['business', 'technology'] | 19-09-2023 |
Bombay Dyeing to sell land in Mumbai's Worli for ₹5,200 crore | Wadia Group-owned Bombay Dyeing's board approved the proposal to sell a land parcel of 22 acres in Mumbai's Worli to Goisu Realty for ₹5,200 crore in one of Mumbai's largest land deals. Bombay Dyeing will use the money to repay debt and fund future projects. In August, the textile company reported its standalone Q1 net loss widened to ₹119.8 crore. | ['business'] | 19-09-2023 |
Adani in talks for $3.5 billion in one of Asia's biggest loans of 2023: Report | Gautam Adani-led Adani Group is in talks with banks to refinance debt taken to fund its purchase of Ambuja Cements in what could be one of Asia's largest syndicated loan deals of 2023, Bloomberg reported. Banks are likely to refinance a total of $3.5 billion, the report added. Adani would repay at least $300 million on the original Ambuja facility. | ['business'] | 19-09-2023 |
ISRO, IN-SPACe tie up with AWS for cloud access to space startups | ISRO and space regulator Indian National Space Promotion and Authorisation Center (IN-SPACe) have partnered with Amazon Web Services (AWS) to provide space startups and research institutes with access to cloud technologies. ISRO, IN-SPACe and AWS will work together on a new initiative to train students and educators in cloud computing, artificial intelligence and machine learning. | ['business', 'science', 'technology'] | 19-09-2023 |
Banks to pay ₹5,000/day if property papers not returned within 30 days of loan repayment | India's central bank, The Reserve Bank of India (RBI), has said that banks and financial institutions will have to return all original property documents within 30 days of full repayment of a loan by a borrower. If banks fail to do so, they'll have to compensate the borrower at the rate of ₹5,000 for each day of delay, RBI said. | ['business'] | 19-09-2023 |
India receives keys of 1st C-295 transport aircraft from Airbus | IAF chief Air Chief Marshal VR Chaudhari received the keys of C-295 transport aircraft from manufacturer Airbus in Spain on Wednesday. This kick-started the delivery of 16 aircraft in 'fly-away' condition by 2025 under the ₹21,935-crore project, which was signed two years ago. The first aircraft will be officially inducted in India later this month. | ['business', 'national'] | 19-09-2023 |
Cabinet nod to ₹9,589 cr FDI in Suven Pharma by Cyprus-based firm | The government approved a foreign investment of up to ₹9,589 crore in Suven Pharmaceuticals by Cyprus-based Berhyanda. The approval is for the acquisition of up to 76.1% shares of Suven Pharmaceuticals by Berhyanda via transfer of shares from existing promoter shareholders and public shareholders through mandatory open offer. The aggregate foreign investment may increase to up to 90.1% in Suven.
| ['business'] | 19-09-2023 |
Fake crypto OneCoin's Greenwood jailed for 20 yrs over $4-bn fraud | Fake crypto OneCoin's Co-founder Sebastian Karl Greenwood has been sentenced to 20 years in prison for defrauding 3.5 million people of $4 billion. Officials said OneCoin, founded by Greenwood and Ruja Ignatova (known as 'Cryptoqueen'), was a global pyramid scheme that convinced investors it was the next "can't miss" investment opportunity. "In reality, OneCoin had no actual value," lawyers said. | ['cryptocurrency', 'business', 'technology'] | 19-09-2023 |
Tesla plans to get auto parts worth ₹15,700 crore from India this year: Piyush Goyal | Electric vehicle maker Tesla plans to source components worth up to $1.9 billion (₹15,700 crore) from India this year, Minister of Commerce & Industry Piyush Goyal said on Wednesday. He said this at the 63rd Annual Session of the Automotive Component Manufacturers Association of India. | ['automobile', 'business'] | 19-09-2023 |
Reliance Retail to raise $3.5 bn at $100-bn valuation: Report | Reliance Retail is in talks with existing investors including Singapore's GIC, Abu Dhabi's ADIA and Saudi Arabia's PIF for raising $1.5 billion, Reuters reported. The talks are part of Reliance's internal target to raise $3.5 billion, which it plans to complete by September-end. GIC, ADIA and PIF are looking to invest $500 million each in Reliance Retail at $100-billion valuation. | ['business'] | 19-09-2023 |
Won't make 6 airbags mandatory for cars: Nitin Gadkari | Union Minister Nitin Gadkari said that the government won't make the six airbags rule mandatory for carmakers. "It is now for the market and people to decide...Everyone is already making cars with six airbags, there's no need to make it mandatory," Gadkari said. "But now people are cautious...People will prefer to take the cars with six airbags," he added. | ['automobile', 'business', 'national'] | 19-09-2023 |
₹1,650 cr subsidy for 75 lakh LPG connections over 3 yrs: Cabinet | The Union Cabinet approved the extension of Pradhan Mantri Ujjwala Yojana (PMUY) for the release of 75 lakh LPG connections to women over three years from FY24 to FY26. The total financial implication will be ₹1,650 crore. Last month, the Cabinet gave an additional subsidy of ₹200, which took the total subsidy to ₹400 per cylinder for PMUY beneficiaries.
| ['business', 'national'] | 19-09-2023 |
We should learn from India, PM Modi is doing the right thing: Putin on 'Make in India' | Russian President Vladimir Putin praised PM Narendra Modi and the 'Make in India' policy during an economic forum session in Russia on Tuesday. "We should learn from many partners of ours, namely our partners in India," said Putin, adding, "I think that PM Modi is doing the right thing by promoting the 'Make in India' programme." | ['world', 'business', 'national'] | 19-09-2023 |
Coffee Day shares rise 20% on insolvency deal with IndusInd Bank | Coffee Day Global shares traded 20% higher on the NSE on Wednesday after the company reached a settlement with IndusInd Bank averting insolvency proceedings. The Bengaluru bench of the National Company Law Tribunal had on July 20 admitted Coffee Day Global to insolvency after IndusInd Bank moved a petition alleging default on ₹94 crore.
| ['business'] | 19-09-2023 |
Nifty ends above 20,000 for the first time | Nifty ended 77 points higher at 20,070 on Wednesday, marking the first time the index closed above the 20,000 level. On Monday, Nifty had crossed the 20,000 milestone for the first time. Sensex ended 246 points higher, at 67,467, on Wednesday. Bharti Airtel, HDFC Bank, Reliance Industries, Axis Bank, and Titan positively added to the changes in Nifty index. | ['business'] | 19-09-2023 |
Gameskraft to get demand notice for ₹21,000-cr tax evasion: Report | Gaming startup Gameskraft is likely to get a demand notice with penalty from the Central Board of Indirect Taxes and Customs (CBIC) over alleged tax evasion of ₹21,000 crore, Moneycontrol reported. "The assessing officer will send the tax demand. Why would there be a delay?...It was held back...because of Karnataka HC's order," a senior government official reportedly said. | ['business', 'startup'] | 19-09-2023 |
Indiabulls Housing Finance up 10% to top Nifty500 after block deal | Indiabulls Housing Finance became the top gainer on the Nifty500 index on Wednesday after 22.5 lakh shares or 0.5% of the company's total equity changed hands in a transaction worth ₹40.8 crore, CNBC-TV18 reported. The company's shares are up 19% on a year-to-date basis, while the one-year return is 36%. At 3:02 pm, shares were trading 10.84% higher on BSE.
| ['business'] | 19-09-2023 |
Blue Dart rebrands its Dart Plus service as Bharat Dart | Blue Dart has rebranded its Dart Plus service as Bharat Dart. "Blue Dart Express Limited invites all stakeholders to join on this transformative journey as the company continues to connect Bharat to the world and world to Bharat," it said. The announcement comes just days after President Droupadi Murmu's invitation to G20 leaders had Bharat instead of India on it. | ['business'] | 19-09-2023 |
Coffee Day Global settles ₹94-cr debt issue with IndusInd Bank | Coffee Day Global has settled its issue with IndusInd Bank over unpaid dues worth ₹94 crore, following which the NCLAT has set aside insolvency proceedings against the former. The Café Coffee Day operator's loan has been assigned to a firm called ASREC (India) Limited. In August, NCLAT had stayed an NCLT order initiating insolvency proceedings against Coffee Day Global. | ['business'] | 19-09-2023 |
Govt to bear 25% project cost for critical minerals' exploration | Union Mines Minister Pralhad Joshi has announced that as an incentive for mining critical minerals, firms will get 25% of the approved project cost. "This incentive will be provided through the National Mineral Exploration Trust and will help in the discovery of critical minerals in the country," Joshi said. Both public and private firms can avail the incentive, he added. | ['business'] | 19-09-2023 |
Fuel pumps to stay shut in Rajasthan today & tomorrow over strike | Fuel pumps will stay closed across Rajasthan from 10 am to 6 pm today and tomorrow after the Rajasthan Petroleum Dealers Association called for a symbolic strike. The strike has been called to protest against high VAT on fuel. Crowds were seen at many petrol pumps in the morning, as people were not aware of the strike, PTI reported. | ['business', 'national'] | 19-09-2023 |
In some ways, firms like Google, X created modern world: Sanyal | Sanjeev Sanyal, Member of Economic Advisory Council to the PM, said in some ways, firms like Google, X (formerly Twitter) and Facebook have created the modern world. "Rest of the world...basically saw digital assets as private assets...However, this isn't the only way to think about it," Sanyal said. Many digital assets can be treated as public goods, he added. | ['business', 'technology'] | 19-09-2023 |
BP CEO Looney quits over past undisclosed relationships with staff | BP CEO Bernard Looney has resigned over past undisclosed relationships with colleagues, the firm said. BP's board reviewed allegations relating to the 53-year-old's conduct "in respect of personal relationships with...colleagues" in 2022 and found no breach of company rules. BP received further similar allegations and said Looney "now accepts he wasn't fully transparent in...previous disclosures". | ['business'] | 19-09-2023 |
Hyundai, Kia ask US court to reject TikTok-inspired theft cases | Hyundai Motor and Kia asked a US judge to reject lawsuits filed by 17 cities for failing to install anti-theft technology in millions of their vehicles. Thousands of Hyundai and Kia thefts used a method popularised on TikTok and other social media channels. The automakers said they shouldn't be held liable for thefts "resulting from an unprecedented criminal social-media phenomenon".
| ['automobile', 'business'] | 19-09-2023 |
Women's Reservations Bill is brainchild of INC & UPA: Venugopal | Congress leader KC Venugopal has said that the Women's Reservation Bill is the "brainchild" of the Congress and UPA. "We gave 50% reservation to women in local bodies. If they (Centre) have any sincerity in their mind, they should pass the Women's Reservation Bill in this session," he said. The Bill was reportedly approved by the Union Cabinet. | ['politics'] | 19-09-2023 |
What will we call ISRO today? Congress’ Adhir amid ‘Bharat’ row | While addressing the Lok Sabha during the special session of Parliament on Monday, Congress' Adhir Ranjan Chowdhury asked, "What will we call ISRO today, if not the Indian Space Research Organisation, then what?" His remark came amid the ongoing row over Opposition claiming that the Centre wants to rename India to 'Bharat'. | ['politics'] | 19-09-2023 |
What is Women's Reservation Bill, demanded by parties at Parliament today? | At an all-party meeting convened by the government at the Parliament special session on Monday, several political parties demanded a discussion and passing of the Women's Reservation Bill. The bill seeks to reserve 33% of seats in the Lok Sabha and state legislative assemblies for women. One-third of total seats reserved for SCs and STs will be reserved for women. | ['politics', 'national'] | 19-09-2023 |
Kharge only sees 2G, one ji & son ji: Goyal on Kharge's G2 remark | Union Minister Piyush Goyal has reacted to Congress President Mallikarjun Kharge's 'G2' remark for the recently concluded G20 summit. "Congress President, only sees 2G, one ji and son ji," Goyal said. Referring to the G20 logo, Kharge said he got confused with zero in G20 to a lotus. Kharge's response evoked laughter from the Opposition. | ['politics'] | 19-09-2023 |
BJP's Guj unit overflowed Narmada waters for PM's b'day: Congress | Congress has said BJP's Gujarat unit refused to release the water of Sardar Sarovar Dam for farmers but stored it so that the reservoir overflowed on PM Narendra Modi's birthday on September 17. Terming it "man-made disaster", Congress said storing it forced the government to release a large volume of water from the dam on Sunday, resulting in "large-scale damage". | ['politics'] | 19-09-2023 |
Set timeline for Shinde camp MLAs' disqualification pleas: SC to Maha Speaker | The SC on Monday asked Maharashtra Assembly Speaker Rahul Narwekar to set a timeline to decide on disqualification pleas against Maharashtra CM Eknath Shinde and MLAs of his faction. The SC also directed the Speaker to list the matter before him for hearing within a week. "Speaker has to honour the dignity of SC," said CJI DY Chandrachud. | ['politics'] | 19-09-2023 |
I hope that BJP would stop abusing Jawaharlal Nehru now: Shukla | Reacting to PM Narendra Modi’s tribute to country's first Prime Minister Jawaharlal Nehru in his Lok Sabha speech, Congress leader Rajeev Shukla said that Nehru's contribution cannot be forgotten as he stayed in jail for almost 14 years during the freedom struggle. He further said that he hoped that the BJP leaders would stop abusing Jawaharlal Nehru now. | ['politics'] | 19-09-2023 |
Ready if BJP govt chooses to call for early national polls: Nitish | Bihar CM Nitish Kumar on Monday said that they were ready for early elections if the BJP government chose to call for early national polls. "They want to conduct early elections across the country. The sooner they do early elections, the better for us. We are ready for it. We do not have any problem with this," Kumar added. | ['politics'] | 19-09-2023 |
INC stole ex-Pak PM's party's theme song for MP poll campaign: BJP | BJP's MP unit has alleged that Congress 'stole' the theme song of former Pakistan PM Imran Khan's Pakistan Tehreek-e-Insaf (PTI) for its MP poll campaign. BJP's Rahul Kothari has claimed that Congress has copied PTI's "chalo, chalo Imran ke saath", in its recently released song "chalo, chalo...Congress ke sang chalo chalo" for the Jan Aakrosh Yatra. | ['politics'] | 19-09-2023 |
Those abusing Sanatana Dharma will become ghosts & demons: Ramdev | Reacting to DMK leader Udhayanidhi Stalin’s remark against Sanatana Dharma, Baba Ramdev said that those abusing Sanatana will be finished in 2024 and that they will become ghosts and demons. He further said, "Those calling Sanatana casteist and discriminatory are working against it in collaboration with foreign powers." Earlier, Udhayanidhi had compared Sanatana with dengue. | ['politics'] | 19-09-2023 |
Confused zero in G-20 with lotus: Kharge on calling G-20 as 'G-2' | Congress President Mallikarjun Kharge while addressing the Rajya Sabha during the Special session of Parliament referred to 'G-20' as 'G-2'. Replying to this, Chairman Jagdeep Dhankhar said, "(It's) G20, sir." Responding to Dhankhar, Kharge said that he got confused with zero in G20 to lotus, referring to G-20 India logo. Kharge's statement evoked laughter from Opposition benches. | ['politics'] | 19-09-2023 |
Owaisi congratulates Siraj in Hyderabadi style for his 6/21 vs SL | AIMIM chief Asaduddin Owaisi congratulated and lauded cricketer Mohammed Siraj for his bowling performance against Sri Lanka in the final of the Asia Cup 2023. Owaisi on X (previously called Twitter) said, "In Hyderabadi lingo, 'Pasha pura Sri Lanka ku khol diye'." This comes as India defeated Sri Lanka in the final with the help of Siraj’s historic 6/21 spell. | ['politics', 'sports', 'Asia_Cup_2023'] | 19-09-2023 |
BJP MP Satish Dubey injured after car rams into vehicle in Bihar | BJP MP Satish Chandra Dubey and at least four others were injured after the car they were travelling in rammed into a vehicle ahead of it in Bihar's Patna. Dubey is undergoing treatment, however, his condition is said to be out of danger, according to the police. The driver, who is grievously injured, and a bodyguard are also undergoing treatment. | ['politics', 'national'] | 19-09-2023 |
Manipur jawan shot dead while PM celebrated his birthday: Gokhale | Reacting to the killing of an Indian Army soldier by unidentified armed men in Manipur, TMC MP Saket Gokhale criticised PM Narendra Modi, saying that while the "Prime Minister celebrated his birthday in style, a jawan was abducted and murdered in cold blood". He added, "How much blood needs to be spilt before PM Modi shows some shame?" | ['politics'] | 19-09-2023 |
Women MPs share memories from old Parliament in handwritten notes | As the Parliament proceedings will move into new building on Tuesday, a few women MPs penned down their experiences and memories of the old Parliament. "Proud to be a part of the old Parliament's journey," Shiv Sena (UBT) MP Priyanka Chaturvedi said. Meanwhile, TMC MP Mahua Moitra said the old Parliament building will have a "special place in my heart". | ['politics', 'national'] | 19-09-2023 |
No cases against KCR, PM Modi doesn't fight against his own: Rahul | Congress MP Rahul Gandhi accused the BRS and AIMIM of working in unison with the BJP in Telangana. He further said that there are cases against every Opposition leader but not against Telangana CM KCR and AIMIM chief Asaduddin Owaisi. He added, "Narendra Modi does not fight against his own people. [BJP] thinks KCR and AIMIM to be its own." | ['politics'] | 19-09-2023 |
I am thief of chickens but have allegations of robbery: Azam on IT raids | Reacting to Income Tax raids at his residence, SP's Azam Khan said that he is thief of chickens, goats and buffaloes but has allegations of robbery against him. "One allegation is such that me and my wife looted ₹16,900 from an alcohol shop. I am delighted that you people have come to talk to such a man," Khan told reporters. | ['politics'] | 19-09-2023 |
G20's success is India's success, not individual's or party's: PM | PM Narendra Modi, while addressing the Lok Sabha, said that the "G20 Summit’s success is India’s success, not an individual's or a party's success". He further said, "It is a matter of pride for everyone. Today, India is recognised on a global level [and] that is because of our culture and everything we have, from the Vedas to Vivekananda." | ['politics'] | 19-09-2023 |
Many suspect India, said G20 Declaration won't occur but it did: PM | PM Narendra Modi during his address in the old Parliament building's Lok Sabha said that many people have a tendency to be suspicious of India and this has been going on since Independence. Adding that during the G20 Summit, people were "confident" that a declaration won't happen, he further said that however, it is India's "strength" that this also happened. | ['politics', 'national'] | 19-09-2023 |
TDP protests in Parliament against Chandrababu Naidu's arrest | TDP MPs protested near the Mahatma Gandhi statue on Parliament premises against the arrest of former Andhra Pradesh CM N Chandrababu Naidu. In a video that surfaced on social media, they can be heard raising the 'Save Andhra Pradesh' and 'We Want Justice' slogans. Naidu was arrested in connection with the alleged AP Skill Development Corporation scam by the CID. | ['politics'] | 19-09-2023 |
Did you hear me cribbing: Farooq on PM Modi's 'cry later' remark | Reacting to PM Narendra Modi's remark asking MPs to give more time to the special session of Parliament and cry later, National Conference (NC) president Farooq Abdullah said, "I am not cribbing, did you hear me cribbing?" "I am happy that the session is there, I hope we can deliver and do something good for the country," he added. | ['politics'] | 19-09-2023 |
Special session may be small in duration but big on occasion: PM | During his address ahead of the Special Parliament Session, PM Narendra Modi praised the Chandrayaan-3 mission and mentioned the success of the G20 Summit in Delhi along with the inauguration of the 'YashoBhoomi' centre. Adding that there's an "atmosphere of festivity" in the country, he further said, "This Parliament session may be small in duration but is big on occasion." | ['politics', 'national'] | 19-09-2023 |
Give more and more time to special session, cry later: PM to MPs | PM Narendra Modi urged all the parliamentarians to give "more and more time to the Special Parliament Session" and called it a "session of historic decisions". He further said, "There is a lot of time to cry later. There are some moments that fill us with joy and trust, I see this session in that form." | ['politics'] | 19-09-2023 |
Tricolour flying on moon: PM before Special Parliament session | Before the commencement of the Special Parliament session, PM Narendra Modi hailed the success of India’s lunar mission Chandrayaan-3 and said that "our tricolour is flying on the moon". He also asserted that "this session is short, but it is a session of historic decisions". PM Modi also urged the Opposition to help make the session a success. | ['politics'] | 19-09-2023 |