Category: Business

Business

DGCA inspection finds lapses in Air India’s internal safety audits

August 26, 2023 admin

A two-member inspection team of the Directorate General of Civil Aviation (DGCA) has found lapses in internal safety audits of Air India and the regulator is probing the matter, according to officials. When contacted, an Air India spokesperson said that all airlines are subject to regular safety audits by regulators and other bodies. “Air India…

Business

Govt. imposes 20% export duty on parboiled rice

August 26, 2023 admin

The government has imposed a 20% duty on the export of parboiled rice, a move aimed at maintaining adequate local stock and keep domestic prices under check. The export duty, imposed on August 25, will remain effective till October 16, 2023, the Finance Ministry said in a notification. Duty exemption would be available on parboiled…

Business

Government’s Top Priority Is To Tame Inflation: Finance Minister Nirmala Sitharaman

August 25, 2023 admin

Finance Minister Nirmala Sitharaman said the government’s top priority is to tame inflation (File) New Delhi: Finance Minister Nirmala Sitharaman today said the government’s top priority is to tame inflation to ensure sustained economic growth. Addressing the B20 Summit India, being hosted by the Confederation of Indian Industry (CII), the minister said the GDP numbers…

Business

India’s forex reserves drop $7.27 billion to $594.88 billion

August 25, 2023 admin

In the previous reporting week, the overall reserves had risen by $708 million to $602.161 billion. | Photo Credit: REUTERS India’s forex reserves dropped by $7.273 billion to $594.888 billion for the week ended August 18, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by $708 million…

Business

Rupee snaps three-day rally to settle 13 paise lower at 82.69 against U.S. dollar

August 25, 2023 admin

Image used for representational purpose only. | Photo Credit: Reuters The rupee reversed its three-day rally and depreciated by 13 paise to settle at 82.69 (provisional) against the U.S. dollar on Friday (August 25), tracking strong American currency and negative equity markets. Rising crude oil prices also weighed on the domestic unit even as foreign…

Business

Sensex declines by 365 points on selling in financials, IT shares amid rate hike concerns

August 25, 2023 admin

Bombay Stock Exchange in Mumbai. File | Photo Credit: Vivek Bendre Benchmark Sensex declined by 365 points and Nifty settled below the 19,300 level in a volatile trade on Friday as financials, IT and oil shares took a hit amid concerns over potential rate hikes and weak trend in global markets. Falling for a second…

Business

B20 summit | My priority is to tame inflation, says Nirmala Sitharaman

August 25, 2023 admin

Union Finance Minister addresses the audience at a Special Plenary Session at the B20 Summit India, in New Delhi on August 25, 2023. Twitter/@nsitharamanoffc Finance Minister Nirmala Sitharaman on August 25 said the government’s priority is to tame inflation to ensure sustained economic growth. Addressing the B20 Summit India, being hosted by the Confederation of…

Business

Rupee falls 12 paise to 82.68 against U.S. dollar in early trade

August 25, 2023 admin

Image used for representational purpose only. | Photo Credit: Reuters The rupee snapped its three-day rally and depreciated by 12 paise to 82.68 against the U.S. dollar in early trade on August 26 amid a firm American currency and subdued equity markets. An upward movement in crude prices also weighed on the domestic currency even…

Business

Sensex falls 453 points, Nifty down 126 in early trade

August 25, 2023 admin

A traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street seems to reflect the mood of the stock markets in Mumbai. | Photo Credit: The Hindu The equity benchmark indices fell in early trade on Friday, August 25, 2023, amid a weak trend in global markets. The BSE Sensex fell 452.68…

Business

Air India Pilots’ Group Flags Fatigue Concerns Over New Rostering System

August 24, 2023 admin

The issue of fatigue among pilots is in focus following the death of a pilot recently.(Representational) Mumbai: An Air India pilots’ grouping has raised fatigue concerns in the wake of flight crew rosters generated using a new rostering tool, saying that extended waiting periods between duty time will jeopardise crew alertness and performance. “Extended waiting…

Business