Category: Business

Business

Explained | Can the new data panel improve India’s statistics?

July 22, 2023 admin

In recent years, the credibility of some of NSO’s data, especially the results of various household surveys traditionally carried out by the National Sample Survey Office have come under a cloud, with even top government officials questioning their approach and outcomes. File | Photo Credit: Reuters The story so far: The Ministry of Statistics and Programme…

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ICICI Bank reports 40% rise in standalone net profit to ₹9,648 crore

July 22, 2023 admin

A view of the ICICI bank head office in Mumbai. File | Photo Credit: Reuters Private lender ICICI Bank on July 22 reported a 40% rise in standalone net profit to ₹9,648 crore for the June 2023 quarter, helped by a decline in bad loans and an improvement in interest income. The Mumbai-based private sector…

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DGCA approves Go First’s flight resumption plan with certain conditions

July 21, 2023 admin

Budget carrier Go First, which stopped flying on May 3, is undergoing an insolvency resolution process. File. | Photo Credit: Reuters Aviation regulator DGCA on July 21 said it has approved Go First’s plan to restart operations with 15 aircraft and 114 daily flights, subject to certain conditions. Budget carrier Go First, which stopped flying…

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Round-the-clock availability of renewable energy necessary for net-zero carbon emission: Union Minister R.K. Singh

July 21, 2023 admin

Union Minister of Power and New & Renewable Energy R. K. Singh. File Union Minister for Power and New and Renewable Energy R. K. Singh on July 21 said that in order to achieve the net-zero carbon emission target, storing the renewable energy is necessary so that it becomes available round-the-clock. Chairing the inaugural function…

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Air India, CFM finalise order for engines for 400 planes

July 21, 2023 admin

Air India has been a CFM customer since 2002 when it began operating A320 neo aircraft powered by CFM56-5B engines. | Photo Credit: The Hindu Air India and CFM International have finalised the order for LEAP engines for the carrier’s new fleet of 400 narrow-body planes. The engines will power 210 Airbus A320/A321 neo and…

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Tornado damage to Pfizer plant will probably create long-term shortages of some drugs hospitals need

July 21, 2023 admin

Debris is scattered around the Pfizer facility on July 19, 2023, in Rocky Mount, N.C., after damage from severe weather. | Photo Credit: AP The fallout from a Pfizer factory being damaged by a tornado could put even more pressure on already-strained drug supplies at U.S. hospitals, experts say. Wednesday’s tornado touched down near Rocky…

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Centre bans export of non-basmati white rice to check price rise

July 20, 2023 admin

The domestic prices of rice are on an increasing trend. | Photo Credit: The Hindu The Centre banned the export of non-basmati white rice on Thursday. The Directorate General of Foreign Trade under the Union Commerce Ministry announced in a notification that the ban would come into effect immediately and exemptions would be given only…

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ICRA revises growth outlook for NBFCs; expects another strong performance in FY24

July 20, 2023 admin

ICRA has revised upward the growth outlook for the current financial year for the retail loans of Non-Bank Financial Companies (NBFC-Retail) and Housing Finance Companies (HFC-Retail), which account for the bulk of the overall sector. The NBFC-Retail asset under management (AUM), estimated at around ₹14 lakh crore as of March 2023, is expected to grow…

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ASCI’s new charity norms ask crowdsourcing platforms to disclose fees

July 20, 2023 admin

Representational image only. | Photo Credit: Twitter/@ascionline Crowdsourcing platforms will have to disclose fees charged by them while seeking donations for charitable causes henceforth, advertising industry’s self regulatory body Advertising Standards Council of India (ASCI) said on July 20. In the guidelines for advertisements for charitable causes, the ASCI has also made it clear that…

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Western countries are making sensible bet on India, ‘a rising great power’, says Martin Wolf

July 20, 2023 admin

Prime Minister Narendra Modi and USA President Joe Biden during the meeting with top CEOs at White House, in Washington, Friday, June 23, 2023. | Photo Credit: PTI India is indeed likely to be a rising “great power” and its economy will have the size similar to that of the U.S. by 2050, according to…

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