Business Standard - May 22, 2024
Business Standard - May 22, 2024
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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 â¹3K crin Rajasthan unit
JSW Cement will invest around â¹3,000 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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Business Standard is India's leading business daily.
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