Category: Business

Business

PM Modi wants India to become a hub of semiconductor industry

July 28, 2023 admin

Prime Minister Narendra Modi speaks at the Semicon India 2023 event, in the presence of Gujarat Chief Minister Bhupendra Patel, Foxconn chairman Young Liu, Vedanta group chairman Anil Agarwal, Union IT Minister Ashwini Vaishnav, and Minister of State (Electronics and Information Technology) Rajeev Chandrasekhar, held at Mahatma Mandir, Gandhinagar, on Friday, July 28, 2023. |…

Business

Rail Vikas Nigam Ltd. offer-for-sale over-subscribed, institutional buyers place bids worth ₹2,000 crore

July 28, 2023 admin

The government’s 5.36% stake sale in Rail Vikas Nigam Ltd (RVNL) on Thursday got an enthusiastic response from institutional investors, who subscribed to the issue 2.73 times by putting in bids of over ₹2,000 crore. In the two-day offer-for-sale (OFS), the government is selling 11.17 crore shares, representing a 5.36% stake at a floor price…

Business

Explained | RBI’s proposal for interoperability of credit and debit cards

July 27, 2023 admin

Image for representation only The story so far: On July 5, apex banking regulator Reserve Bank of India (RBI) floated a draft circular seeking comments from stakeholders about mandating that card issuers provide their customers with the choice of multiple card networks. It also proposes to restrain issuers from entering into exclusive agreements with card…

Business

Currency note with * symbol in number panel valid note: RBI

July 27, 2023 admin

Image used for representative purpose only. | Photo Credit: REUTERS A currency note with a star (*) symbol is identical to any other legal banknote, the Reserve Bank said on Thursday allaying concerns on the validity of such notes. The symbol is inserted in the number panel of a banknote that is used as replacement…

Business

Govt. to consider PLI scheme for chemicals and petrochemicals industry: Finance Minister Nirmala Sitharaman

July 27, 2023 admin

Union Finance Minister Nirmala Sitharaman. File | Photo Credit: PTI Finance Minister Nirmala Sitharaman on July 27 said the government will consider the Production Linked Incentive (PLI) scheme for Chemicals and Petrochemicals sector to make India a manufacturing hub for such products. In view of stringent pollution control regulations and rising labour cost, she said,…

Business

Meta posts higher profit, revenue for Q2 as advertising rebounds

July 27, 2023 admin

Facebook parent Meta posts higher profit, revenue [File] | Photo Credit: AP Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. The Menlo Park, California-based company earned $7.79 billion, or $2.98 per share, in the April-June period. That’s up…

Business

The happy apple growers of Himachal

July 26, 2023 admin

An apple orchard at Fagu village in Shimla. | Photo Credit: PTI The apple season has started in Himachal Pradesh. This year is especially significant as a new practice has come into force: the State’s key horticulture crop is being sold by weight instead of the established practice of being sold per box. While this…

Business

The changing contours of Delhi

July 26, 2023 admin

India’s decisions on economic development, growth, and related planetary boundary challenges have become all the more significant as it was declared the most populous country in the world, overtaking China just a few months ago. Additionally, India’s capital city Delhi is en route to becoming the world’s most populous urban agglomeration overtaking Tokyo by 2028….

Business

No review of Uniform Civil Code impact on HUFs: Finance Ministry

July 26, 2023 admin

Minister of State for Finance Pankaj Choudhary. File The number of Hindu Undivided Families (HUFs) availing tax benefits under the Income Tax Act stood at almost 8.76 lakh in 2022-23, the lowest in at least five years. The impact on their tax treatment under a Uniform Civil Code (UCC) has not yet been examined, the…

Business

Video-gaming firms write to PMO seeking distinction from real-money gaming industry

July 26, 2023 admin

The video gaming industry has said the term ‘online gaming’ is a broad and ambiguous term that is causing confusion among gamers, games publishers, international investors and media amid the GST row. Image used for representational purposes only. | Photo Credit: Special Arrangement As many as 45 video game companies in India on July 26,…

Business