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May 22, 2024

Inflation seen closer to target in FY26: RBI report

The Reserve Bank of India® (RBI's) state of the econom report observed that an durable alignment of headline retail inflation with the target of 4 per cent could recommence in the second half of FY25 and sustain until numbers closer to the target are seen during the course of FY26, dashing hopes of any reduction in the policy repo rate in the current financial year.

2 mins

Hero Electric, Benling barred from all EV incentive schemes

MHI to write to Fin Min on a wider ban in all government schemes

2 mins

India's mcap hits $5 trn

Enters exclusive club in less than 6 months after surpassing $4 trn mark

2 mins

Laptop, tablet imports from China surged 47% in March

Five months after India started monitoring imports of major electronic hardware products, inbound shipments of personal computers (PCs), including laptops and tablets, from China surged by 47.1 per cent to $273.6 million in March.

1 min

PSBs told to review IT disaster preparedness

The Union Finance Ministry (FinMin) has instructed public-sector banks (PSBS) to review their information technology (IT) systems, especially the disaster recovery channels, a senior government official said, requesting anonymity.

1 min

Gulf Big 3 see 70% India flyers transit at hubs

A substantial portion - over 70 per of passengers flying on Emirates, Etihad, and Qatar Airways flights connected to India utilised the airlines' hubs in Dubai, Abu Dhabi, and Doha as transit points for travel between India and third countries in February this year, according to aviation analytics firm Cirium's data reviewed by Business Standard.

2 mins

'Minimising reliance on imports is part of our strategy'

AM International, which has interests in petrochemicals, fertilisers and green solutions, has announced expansion plans across segments. ASHWIN MUTHIAH, founder chairman of AM International and the chairman of Southern Petrochemical Industries Corporation (Spic), one of India's early agri-nutrient and fertiliser companies, told Shine Jacob about the group's plans in a video interview. Edited excerpts:

2 mins

HP rebrands consumer, commercial PC lines

Global personal computer (PC) manufacturer HP has announced the rebranding of its consumer and commercial PC portfolios in an effort to simplify and streamline its product offerings.

1 min

JSW Cement to invest ₹3K crin Rajasthan unit

JSW Cement will invest around ₹3,000 crore to set up a new cement manufacturing factory in Nagaur district of Rajasthan, said the Sajjan Jindal company on Tuesday.

1 min

Wabtec to continue India investment thrust

Wabtec Corporation, United States-based rolling stock manufacturer and one of the biggest foreign direct investors in the railways, will look to continue investing in India close to 4 per cent of its global revenues and make the country a manufacturing hub for exports, global president (transit business) Pascal Schweitzer told Business Standard in an interview.

2 mins

As BJP looks to build on housing schemes, a reality check in Delhi

Every morning, as Shyam Dev Chaudhary trudges home from an exhausting night shift, he is greeted by the silhouette of an under-construction housing complex, rising next to his modest abode.

3 mins

A 'mistimed' appointment lands AAP in crisis

What should have been a simple matter of a miscommunication over an appointment sought by a Rajya Sabha member to meet the president of her party has turned into a bitter political war between the Aam Aadmi Party (AAP) leadership, including President Arvind Kejriwal and senior minister Atishi, on one side, and the Rajya Sabha MP from Delhi, Swati Maliwal, on the other.

3 mins

Sitharaman blames Cong for de-industrialisation of Bihar

Union Finance Minister Nirmala Sitharaman on Tuesday blamed the freight equalisation policy of the Congress governments from 1952 to 1991-92 for the de-industrialisation of Bihar and eastern India.

1 min

PM: Have no waaris other than Indians

Statement comes days after Kejriwal's 'retirement at 75' jibe ARCHIS MOHAN New Delhi, 21 May P rime Minister Narendra Modi, in his campaign speech in Bihar on Tuesday, said that Jawaharlal Nehru would have never agreed to reservations for Scheduled Castes (STs) and Scheduled Tribes (STS) if it weren't for BR Ambedkar.

1 min

Net FDI declines by 62% to $10.5 billion in FY24

The country's net foreign direct investment (FDI) -inflows minus outflows - dropped by 62.17 per cent to $10.58 billion in the financial year ended March 31, 2024 (FY24) from $27.98 billion in the previous year, reflecting higher repatriation of capital.

1 min

Only 2% personal guarantee claims recovered so far

May reditors have recovered 2.16 per cent, or 102.78 crore, of their admitted claims from personal guarantors under the Insolvency and Bankruptcy Code (IBC), the latest data from the Insolvency and Bankruptcy Board of India (IBBI) shows.

2 mins

Hooda clan fights to reclaim citadel

The contest for the Rohtak Lok Sabha constituency is a re-run of the electoral battle held five years ago.

1 min

Farmers plan no relief to new govt on MSP issue

Pai village (Kaithal), 21 May P unctuated by the flags of the Bharatiya Janata Party (BJP), Kaithal's cityscape paints its political allegiance to the ruling party.

3 mins

Govt asks RIL, OMCs to jointly negotiate oil deal with Russia

The government has made a rare request to state-run oil refiners and private processor Reliance Industries to jointly negotiate a long-term supply deal with Russia, according to people familiar with the matter.

1 min

Al summit gets safety pledges from 16 firms

Sixteen companies involved in AI including Alphabet's Google, Meta, Microsoft and OpenAI, as well as companies from China, South Korea and the United Arab Emirates have committed to safe development of the technology.

1 min

Khamenei's confidant takes key role in Iran as succession looms

The sudden death of Iranian President Ebrahim Raisi has the world asking who'll eventually replace him as the Islamic Republic's de-facto no.

1 min

Europe sets benchmark with landmark AI laws

EU vote came two months after lawmakers backed Al legislation drafted in 2021

1 min

Ivan Boesky, inspiration for Wall Street' villain Gordon Gekko, dies at 87

Ivan Boesky, who reached the pinnacle of fame and fortune as a high-flying Wall Street arbitrageur in the 1980s only to be exposed as a cheat in the insider-trading scandal that defined the era, has died.

2 mins

One dead, 30 hurt after severe turbulence hits Singapore Airlines flight

There was little warning of the chaos that was about to be unleashed onboard Singapore Airlines flight SQ321.

1 min

Boards need to embrace AI

Boards of companies often face the imperative to embrace technological advancements to stay relevant in a rapidly evolving business environment.

3 mins

A better way to fix MGNREGS

The problems of the rural job scheme should be tackled through stricter monitoring, not by burden-sharing

4 mins

GRAIN GAIN

Year of millets over, we need to dedicate a decade to these grains to build on the gains of 2023

5 mins

WEF: Tourism's share in global GDP to return to pre-Covid levels this year

The travel and tourism sector's contribution to global gross domestic product will return to pre-pandemic levels by the end of 2024, according to a new report by the World Economic Forum (WEF) on Tuesday.

1 min

'Mission is to push Indians to see Majestic Blue Ball'

GOPICHAND THOTAKURA, who recently made history by becoming India's first civilian astronaut or space tourist, in a video interview with Shine Jacob discusses his dream of an orbital space journey to view the country from the space, plans regarding collaborating with an Indian space startup, and aspiration of becoming an inspiration for others.

3 mins

Bharat Electronics'growth story intact

THE COMPASS DEVANGSHU DATTA Bharat Electronics (BEL) reported excellent results for the January-March quarter (Q4) of FY24, which were driven by decent earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins and higher profit after tax (PAT) as well as good revenue growth.

2 mins

Framework issued to shield stock price impact from market rumours

The Securities and Exchange Board of India (Sebi) on Tuesday detailed out a framework around \"unaffected price\" to calculate pricing for takeovers, buybacks, preferential issue and other such transactions.

1 min

High-valued stock universe up 2.5x in a single year

FROM 41 TO 104: Number of stocks commanding P/E ratios over 50x in March 2023 reflects market confidence

2 mins

Ireda plans FPO to unlock equity needs

Public sector non-banking financial company (NBFC) Ireda Limite will issue a follow-on public offering (FPO) during the current financial year to boost its equity capital.

1 min

Mayday for 'Sell in May': Strategy needs a rethink

Market strength hinges on policy continuity, Budget, and attention to domestic indicators and global cues, say experts

2 mins

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