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April 24, 2024

India Vix records steepest slump in nearly 5 years

Poll expectations, easing of global tensions likely causes

1 min

Centre bets on semicon talent's Swades moment

Expects thousand-odd Indian engineers to return from Southeast Asia, US

2 mins

Extreme weather, crude pose inflation risk

Retail inflation the main yardstick for the central bank's policymaking - is 'finally' in sight of hitting the 4 percent target, but extreme weather events, along with a spike in international crude oil prices due to geopolitical uncertainties, pose an inflation risk, the Reserve Bank of India's (RBI's) State of the Economy report said.

1 min

'Aionos will bridge silos within aviation, hospitality using AI

Industries such as aviation and hospitality have many silos within them and Aionos, the joint venture between Interglobe Enterprises (IGE) and Assago Group, is an attempt to bridge them and boost efficiencies using artificial intelligence (AI) solutions, Rahul Bhatia told Business Standard on Tuesday.

2 mins

More than 157 million Indians bought 943 million movie tickets in 2023

More than 157 million Indians watched at least one film in the theatre in 2023.

2 mins

Reliance, JSW in fray for 10 Gwh ACC Battery PLI

The Ministry of Heavy Industries announced on Tuesday that it has received bids from seven players for the re-bidding tender of the 10 gigawatthour (Gwh) tranche of the Advanced Chemistry Cell (ACC) manufacturing production-linked incentive (PLI).

1 min

Vedanta scouts for fundraise options

Anil Agarwal-owned Vedanta Resources (VRL), which has hired Standard Chartered Bank to raise funds for its Konkola copper mine assets, says it is engaging with several potential partners for both short-term funds and longterm equity financing for the Zambian project.

1 min

'Is apology as big as your ads, SC asks Patanjali

The Supreme Court on Tuesday questioned whether the size of the apology Patanjali Ayurved published in newspapers was similar to the full-page advertisements for its products while hearing the misleading advertisements case agai-nst them.

1 min

Modernisation of SCL fab plant may cost govt ₹20K cr

The government's modernisation plan for the Mohali-based SemiConductor Laboratory (SCL) will require an investment of ₹20,000 crore for a new fabrication (fab, or foundry) plant with a capacity of 20,000 wafers per month, according to government estimates.

1 min

NCLT seeks MCA views on aircraft lessor relief exemption in IBC

The National Company Law Tribunal (NCLT) has asked the Ministry of Corporate Affairs (MCA) for its views on whether the exemption from the moratorium granted to all transactions related to aircraft and their engines under the Insolvency and Bankruptcy Code (IBC) is retrospective in nature, according to official sources.

2 mins

DGCA directs airlines to seat kids up to 12 years with their parents

A child who is less than 12 years of age must be allotted a seat beside at least one parent or a guardian with whom he is travelling, the Directorate General of Civil Aviation (DGCA) told airlines on Tuesday.

1 min

'Small finance bank model in the slow lane'

Unity Small Finance Bank was the last one to get a licence in the category in November 2021

1 min

Govt charts plan to boost exports of 20'high potential' agriproducts

The Centre is working on a strategy to boost exports of 20 'high potential' agriculture products, including basmati rice, alcoholic beverages, honey, mango and banana.

1 min

SEZ units could get IGST exemption on DTA services: AAR

Units operating within special economic zones (SEZS) could potentially be exempt from paying the integrated goods and services tax (IGST) on specified services taken from the domestic tariff area (DTA) through the reverse charge mechanism, if a ruling by the Gujarat-based Authority for Advance Rulings (AAR) sets a precedent.

1 min

Net FDI dips to $14.5bn till Feb

The net foreign direct investment (FDI) in India, inflows minus the outflows, dropped sharply by 45.5 per cent in the 11 months of financial year 2024 (April 2023 to February 2024), when compared with the same period a year ago due to a rise in repatriation of capital.

1 min

Bombay HC: PSBS cannot issue LOCs against defaulters

The Bombay High Court on Tuesday ruled that public sector banks do not have the power in law to issue Look Out Circulars (LOCs) against default borrowers.

1 min

Private sector activity at nearly 14-yr high in Apr

Flash composite PMI rose to 62.2, compared to March's 61.8, which had seen an upward revision

2 mins

RBI holds back $ sales in Feb amid pressure on ₹

The Reserve Bank of India (RBI) abstained from selling any US dollars throughout February, for the first time in nine months.

1 min

Channapatna's toy story eyes a fresh episode

The lacquered and handcrafted wooden toys from Karnataka's famous 'toy town' of Channapatna, nestled between Bengaluru and Mysuru, have lost their sheen.

2 mins

Parties sweeten deal for cane growers in UP

Even as the 2023-24 sugarcane crushing season nears its end, electioneering for the 2024 Lok Sabha (LS) polls is intensifying in the eponymous Jatland and the sugarcane belt of Western Uttar Pradesh (UP).

2 mins

Bengal's tea industry seeks a new flavour

The alpona (artwork) on the steep, winding road leading to ☐ Makaibari bears testimony to the visit of G20 delegates for the second tourism working group meeting in April last year.

3 mins

China illegally acquires banned Nvidia AI chips

Firm says tenders specify products that were exported, available before ban

1 min

Firms must repair worn-out products, rule EU lawmakers

The European Parliament approved rules on Tuesday to give consumers the right to have worn-out products like washing machines and smartphones repaired by producers, to cut waste and make goods last longer.

1 min

Columbia, Yale get tough on pro-Palestinian protesters, arrest dozens

For the students, it was the ultimate betrayal: Their university had called in the cops to arrest them for what they believed was a righteous protest on campus.

2 mins

Over 200 quakes shake Taiwan; no impact on operations, says TSMC

Taiwan's quake-hit eastern county of Hualien was rattled by more than 200 aftershocks late on Monday and early on Tuesday, but only minor damage was reported and no casualties and major chipmaker TSMC said it saw no impact on operations.

1 min

China turns up the heat on cross-border investments in local government debt

Chinese regulators are inspecting the use of a cross-border mechanism to invest in debt-laden local governments' offshore bonds, two sources said, indicating a ramping up of efforts to contain financial risks in a loosely regulated part of the market.

1 min

Cong wanted to give SC, ST quota to Muslims: PM

Prime Minister (PM) Narendra Tuesday Modi on said the Congress had designs to provide reservations to Muslims from the quotas earmarked for the Scheduled Castes (SCS) and Scheduled Tribes (STS), and reiterated that the Opposition party has hatched a \"deep conspiracy\" to \"X-ray\" and snatch people's wealth and distribute it among a \"select\" group.

2 mins

Adani stocks now have prominent investor base

Sebi questions global funds on Adani 'stocks manipulation'

2 mins

Strong signal for telecom sector after successful Vi FPO

The success of the massive Vodafone Idea Ltd (VIL) follow-on public offering (FPO), which raised ₹18,000 crore, coupled with a subscription of fresh equity worth ₹2,075 crore by an Aditya Birla group company, has triggered some optimism for the telecom sector.

2 mins

MFs offload PSB stocks, bet big on private banks

Pulled out ₹2,500 crore in March from state-owned lenders

1 min

Jane Street saga echoes another warning for retail option traders

A 'secret' strategy used by US-based hedge fund Jane Street helped it earn over $1 billion last year in options At the losing end for most of these trades were Indian retail investors.

1 min

Review portfolio holdings before choosing a credit risk fund

Only investors with high risk appetite should opt for them; limit allocation to 5-10%

2 mins

India bore climate change brunt in '23

Asia remained world's most disaster-prone region from weather and water-related hazards last year: WMO

2 mins

Army becoming self-reliant in weapon production: Pande

Chief of the Army Staff (COAS) General Manoj Pande on Tuesday stated that the Indian Army is changing from being a buyer of weapons to becoming a partner of Indian industry in development and production.

2 mins

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