In this issue

March 08, 2024

Gujarat allots 188 acres for Tata, CG Power chip plants

Ground-breaking likely on Mar 13; incentives form 70% of project cost

2 mins

CABINET NOD FOR INDIA AI MISSION WITH ₹10,372 CR OUTLAY FOR 5 YRS

The Union Cabinet on Thursday evening approved an outlay of 10,372 crore for five years for the India AI Mission, aimed at fostering innovation in artificial intelligence through public-private partnerships.

2 mins

Aiming for 10% share of global ATMP/OSAT market in 5yrs'

With the Cabinet recently clearing three more chip projects, which include a mega fab plant by the Tata group, India is set to enter the exclusive club of countries that have such facilities. In an interview with Surajeet Das Gupta in New Delhi, Communications, Electronics and Information Technology Minister ASHWINI VAISHNAW talks of what India's semiconductor strategy will be in the next five to 10 years. Edited excerpts:

1 min

PROCESSING UPI TRANSACTIONS - Paytm's TPAP request awaits bank tie-ups

One97 Communication Ltd's (OCL's) application for a third-party application provider (TPAP) status will only be considered after it establishes tieups with payment service provider (PSP) banks, sources said.

2 mins

Auto sales rose 13% in Feb, see tough Mar ride

India's automobile retail sales jumped 13 per cent in February to 2.03 million units, compared to 1.79 million units in February 2023.

1 min

Wipro's health care deals get an AI booster shot

Information technology (IT) giant Wipro has a strong pipeline of large artificial intelligence (AI)-led deals in the health care vertical, according to a senior company executive.

1 min

Flipkart may add quick commerce to cart

Potential launch in next couple of months; to take on Blinkit, Zepto

1 min

Krutrim: Disrupting AI giants with Indian data dominance

Krutrim, an artificial intelligence (AI) venture co-founded by Bhavish Aggarwal of Ola, has entered the increasingly competitive AI race dominated by players such as Google, Microsoft, and OpenAI.

2 mins

'Global players are now enthusiastic about India'

Bharat is well poised to become a global semiconductor manufacturing centre, and a surge of proposals is expected. Communications, Electronics and Information Technology Minister ASHWINI VAISHNAW tells Surajeet Das Gupta in New Delhi now investors are asking how soon they can come to India. Edited excerpts:

2 mins

Religare chairperson deboarded from A-I flight over 'rude' act

Air India deboarded Religare Enterprises Chairperson Rashmi Saluja from a London-bound flight at the Delhi airport for rude behaviour with members crew on March 5, sources said on Thursday.

1 min

Starlink's India signal may take longer to connect

The time for Starlink to receive government approval to begin satellite services in India is expected to get longer on account of a China factor.

2 mins

HC issues contempt notice to Go First RP

RP hands over maintenance to lessor

1 min

Apex court junks MMT petition against Google

The Supreme Court on Thursday dismissed a plea by online travel agency MakeMyTrip (MMT) against Google over the misuse of its trademarks \"keywords\" as on the tech giant's ads programme to display links to its rival Booking.com

1 min

SC dismisses JKC plea opposing sale of 3 aircraft to Ace Aviation

The Supreme Court on Thursday dismissed a plea by Jalan Kalrock Consortium (JKC), the successful bidder for Jet Airways, challenging the National Company Law Appellate Tribunal (NCLAT) order permitting the sale of three aircraft of the grounded airline to Maltabased Ace Aviation.

2 mins

Oyo parent to launch 13 premium hotels

Oravel Stays, the parent company of hospitality major Oyo, on Thursday announced plans to launch 13 premium hotels under the Palette brand by the end of this year.

1 min

Drop in onion, potato output; tomato slightly up: Govt data

Onion and potato production is expected to be down in the 2023-24 crop year, while the tomato output could be marginally higher, the Department of Agriculture's first advance estimates of horticultural output released on Thursday showed.

1 min

'Household spending may grow 6.7% in'24 on mild inflation, income surge'

Supported by growing domestic demand, a low unemployment rate, moderating inflation and an expected recovery in international tourism, the real household spending in India is expected to grow by 6.7 per cent in 2024, up from 5.7 per cent estimated in 2023, according to a report released on Thursday by BMI Research, a unit of Fitch Solutions.

2 mins

India, Asean review: PSRS, mkt access likely on table

The bloc seeks liberal product-specific rules in electronics and chemicals

2 mins

'NITI for States' digital platform to foster Centre-state synthesis

In an effort to strengthen cooperation between the Centre and states in achieving growth objectives, Information Technology Minister Ashwini Vaishnaw unveiled the NITI for States (NFS) digital platform on Thursday.

1 min

Moody's raises FY24 growth forecast to 8%

'India to be the fastest-growing economy among G20 countries'

1 min

Surprise GDP surge driven by more than one factor, says CEA

8.4% growth largely due to base effect of subsidies: Nageswaran

1 min

IIFL Fin's lending partners mull options to grow gold loan book

IIFL Finance's co-lending partner banks for gold loans are reviewing the arrangements and exploring various options, including inorganic routes, to grow the gold loan book.

2 mins

CBI conducts searches in 7 cities in Raj, Maha

The CBI conducted searches at 67 locations in seven cities of Rajasthan and Maharashtra in connection with the ₹820crore IMPS scam in UCO bank, officials said on Thursday.

1 min

Inter-ministerial panel pitches for higher tax on coal imports

An inter-ministerial committee (IMC) led by the coal ministry on Thursday suggested that GST compensation cess should be imposed on an \"ad valorem\" (according to value) basis so that it is directly related to the price and quantity of coal, instead of a flat rate of ₹400 per tonne.

1 min

Monitor end use of funds for business cards: RBI

No need of approval for co-branded cards

2 mins

Bajaj Allianz General launches GenAl bot 'Insurance Samjho'

Leading private general insurer Bajaj Allianz General Insurance on Thursday launched \"Insurance Samjho”, a Generative AI powered bot designed to simplify insurance complexities for customers.

1 min

Electoral bonds: SC to hear contempt plea on March 11

The Supreme Court (SC) on Thursday said it will hear the contempt plea by the NGO Association for Democratic Reforms (ADR) against the State Bank of India (SBI) on March 11 in the electoral bonds case.

1 min

Amid buzz over TDP's NDA entry, Chandrababu to meet BJP brass

Amid buzz that the Telugu Desam Party may join the NDA, its supremo N Chandrababu Naidu on Thursday left for New Delhi from Hyderabad, and is expected to meet the senior BJP leadership to finalise an alliance and seat-sharing formula in Andhra Pradesh.

1 min

MODI'S FIRST VISIT TO KASHMIR SINCE ABROGATION OF ARTICLE 370 - Valley breathing freely, tourism flourishing: PM

Cites successful hosting of G20 meeting in J&K

2 mins

To woo youth, Congress unveils five 'guarantees'

As part of its poll promise for the upcoming Lok Sabha polls, the Congress will focus on offering solutions to unemployment, including promising to fill the three million government vacancies.

1 min

Navy rescues crew of drone-hit vessel in Gulf of Aden

Indian warship INS Kolkata has rescued 21 crew members, including one Indian national, after their Barbados-flagged cargo vessel was hit by a missile in the Gulf of Aden, a Navy spokesperson said on Thursday.

1 min

Big Tech scrambles to meet EU rules, may face investigations

The world's biggest tech companies have overhauled their core platform services to comply with EU rules forcing them to play fairer with rivals but will likely face investigations ahead amid criticism their efforts may have fallen short.

1 min

LVMH's Arnault regains crown as world's richest person

French businessman Bernard Jean Etienne Arnault on Thursday replaced Amazon founder Jeff Bezos as the world's richest person by having a staggering net worth of $197 billion, the Bloomberg Billionaires Index data showed.

1 min

Banking watchdog cracks down on lenders gaming capital rules

Global banking regulators proposed measures on Thursday to crack down on \"unacceptable\" attempts by the world's biggest banks to game rules in a bid to avoid heavier capital requirements.

1 min

ECB keeps rates unchanged at record high of 4%

The European Central Bank left interest rates unchanged for a fourth meeting as a softer outlook for inflation and economic growth bolstered expectations for cuts starting in June.

1 min

China exports rise 7% as global demand picks up

It is an encouraging signal for policymakers as they try to boost the economy

1 min

Cancerous chemical found in acne creams Clearasil, Clinique

Hand sanitisers were tainted by benzene.

1 min

Xi urges preparation for military conflicts at sea

China's President Xi Jinping on Thursday called on the armed forces to coordinate preparations for military conflicts at sea, protect the country's maritime rights and interests and the development of the maritime economy.

1 min

Making India a fraternity

The Preamble to the Constitution of India affirms its commitment to justice, liberty, equality and fraternity.

3 mins

What's behind the US market disconnect?

The rally is fuelled by the expectation that Al will remain unregulated, but there is little reason to believe it can last

3 mins

Mauritius deepens India's naval reach

On February 29, Prime Minister Narendra Modi and his Mauritian counterpart, Pravind Jugnauth, jointly inaugurated a new airstrip and jetty on the Mauritian archipelago of Agalega, thereby underlining India's role as a net security provider in the Indian Ocean Region.

3 mins

Medium of exchange

Digital media presents both opportunities and risks

2 mins

Beyond Super Tuesday

Clues to November verdict may lie in the detail

2 mins

HDFC Bank stock may have bottomed out

HDFC Bank had a muted OctoberDecember quarter (Q3) with the acceptable pre-provision operating profit (PPOP) and profit after tax (PAT).

2 mins

Sebi bars JM Fin from acting as lead manager of debt issue

The Securities and Exchange Board of India (Sebi) on Thursday barred JM Financial from acting as the lead manager for any new public issue of debt securities due to alleged fraudulent practices.

3 mins

GQG Partners ups India bet with Airtel stake buy

The fund also acquires additional stake in Macrotech Developers

2 mins

Sensex, Nifty edge higher to settle at fresh lifetime highs

Benchmark Sensex and Nifty edged higher to close at fresh record highs on Thursday driven by gains in metal and FMCG shares amid firm global trends and foreign fund inflows.

2 mins

Sustenance of SBI rally to hinge on earnings growth

On Thursday, the stock hit a fresh lifetime high of 793.5 pershare

3 mins

Save diligently to counter the impact of career breaks

Establish emergency fund to avoid touching the retirement portfolio

3 mins

ARID IN ABU DHABI

The fruitless WT0 ministerial in the UAE capital showed India's path diverging from South Africa's and its parting of ways with China, while the US ceded leadership

6 mins

Women in the boardroom: Public-private gap widens

March As India celebrates International Women's Day on Friday, the number of women in public sector boardrooms has shrunk in the past one year.

3 mins

Fewer women feel safe than before:Safety Index

The sense of safety among women aged 15 years and above in India has seen a decline, according to the Georgetown Institute 2023 Women, Peace and Security Index.

2 mins

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