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Government to delay implementation of laptop, PC import curbs

August 4, 2023 admin

A laptop showroom in Chennai. | Photo Credit: The Hindu The Directorate General of Foreign Trade (DGFT) on August 4 delayed Thursday’s notification restricting imports of laptops, PCs, tablets and servers to India ‘with immediate effect’ to November 1, after Customs officials stationed at ports of entry started holding up electronics shipments. Government officials sought…

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SBI Q1 net profit zooms 178% to ₹16,884 crore

August 4, 2023 admin

File photo of State Bank of India (SBI) chairman Dinesh Kumar Khara. | Photo Credit: PTI State Bank of India (SBI) reported first quarter net profit surged 178.25% to ₹16,884 crore as compared with ₹6,068 crore a year earlier on account of improvement in asset quality and loan growth. This is the bank’s highest-ever net…

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Rupee falls 8 paise to close at over two-month low against U.S. dollar

August 4, 2023 admin

File. | Photo Credit: C. Venkatachalapathy The rupee fell by 8 paise to settle at a more than two-month low against the U.S. dollar on August 4 weighed down by safe-haven dollar demand and higher crude oil prices. Foreign fund outflows also weighed on the local unit, analysts said. At the interbank foreign exchange, the…

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SBI Q1 profit jumps over two-fold to ₹16,884 crore

August 4, 2023 admin

File. | Photo Credit: Reuters The country’s biggest bank SBI on August 4 posted over two-fold jump in standalone net profit at ₹16,884 crore for the first quarter of the current financial year, helped by decline in bad loans and improvement in interest income. State Bank of India (SBI) had reported a net profit of…

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Markets bounce back in early trade after three days of fall

August 4, 2023 admin

Representational image only. | Photo Credit: Reuters Equity benchmark indices rebounded in early trade on August 4 after three days of fall amid buying in IT counters and mixed global market trends. Bouncing back from a three-day decline, the 30-share BSE Sensex climbed 300.1 points to 65,540.78 in early trade. The NSE Nifty advanced 105.9…

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Rupee trades in narrow range against U.S. dollar

August 4, 2023 admin

Foreign currency traders work inside a trading firm behind the signs of various world currencies, in Mumbai. | Photo Credit: REUTERS The rupee witnessed a range-bound trading against the U.S. dollar in early trade on Friday, as the support from positive domestic equities was negated by firm crude oil prices. Forex traders said the rupee…

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Tobacco growers in Andhra Pradesh assemble hay as export call for spikes, search upper abbreviation cap

August 3, 2023 admin

Farmers organize harvested tobacco leaves for curing alike a farm at N.G. Padu in Prakasam district. | Picture Credit score: SRINIVAS KOMMURI Farmers within the conventional tobacco rising area in south coastal Andhra Pradesh have pitched for the next quota right through the approaching Rabi season. The call for got here nearest top class leaves…

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Sensex, Nifty fall for 3rd day as U.S. rating downgrade triggers global equity sell-off

August 3, 2023 admin

Benchmark Sensex tanked 542 points to settle at a four-week low while Nifty closed below the 19,400 mark, extending their losses for a third straight day on Thursday in tandem with a bearish trend in global markets following the U.S. rating downgrade. The 30-share BSE Sensex fell by 542.10 points or 0.82% to settle at…

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MRF Q1 net up fivefold to ₹581 cr. on increase in sales volume

August 3, 2023 admin

MRF Ltd., standalone net profit for the June quarter rose more than fivefold to ₹581 crore over the year earlier period due to increase in sales volume and softening of input costs. Revenue from operations increased by 13% to ₹6,323 crore, material costs declined to ₹3,722 crore from ₹4,043 crore, the tyre major said in…

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Data | The contours of India’s ‘formal jobs’ crisis

August 3, 2023 admin

Since 2017, the Indian government has been using the Employees Provident Fund (EPF) scheme’s data as a measure of payroll employment and formal job creation in the country. The monthly data released as part of this initiative has generally shown net increases in the number of contributors and this has been portrayed as evidence of…

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