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South African President Cyril Ramaphosa . File | Photo Credit: REuters The leader of South Africa’s second biggest party says it will back Cyril Ramaphosa for president, almost guaranteeing he will be re-elected for a second term in Parliament later on June 14. Democratic Alliance leader John Steenhuisen says his party has formally signed a…
A man walks across the LED display board showing the logo of Vodafone-Idea. File Photo | Photo Credit: REUTERS Vodafone Group is looking to sell its entire $2.3 billion stake in Indus Towers through stock market block deals next week, two sources with direct knowledge said, as part of the British firm’s effort to repay…
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The rupee consolidated in a narrow range and settled 2 paise lower at 83.56 (provisional) against U.S. dollar on Friday, as positive domestic markets and a decline in crude oil prices supported the rupee, while strong U.S. Dollar and FII outflows capped sharp gains. Forex traders said rupee was seen resilient against the dollar, on…
Read More “Rupee falls 2 paise to close at 83.56 against U.S. dollar” »
Representational image of the National Stock Exchange (NSE) logo outside the head office | Photo Credit: Reuters National Stock Exchange (NSE) chief Ashishkumar Chauhan on Friday cautioned retail investors against trading in derivatives and suggested them to invest in equities through mutual fund route. He emphasized that trading in Futures & Options (F&O) derivatives should…
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Colruyt Group India Managing Director Hari Subramanian | Photo Credit: Arrangement Colruyt Group India has committed ₹15 crore investment in SEBI-registered AIF Pavestone Technology Fund that is targetting a corpus of ₹900 crore. This is the company’s second investment and the first investment was in pi Ventures in 2023. The company is a part of the…
Read More “Colruyt Group India commits ₹15 cr investment in Pavestone Tech Fund” »
The textile sector grew 9.8% in May, after months of sluggishness. File | Photo Credit: M. Periasamy India’s goods exports grew 9.1% to $38.13 billion in May, while imports rose 7.7% to $61.91 billion, Commerce Secretary Sunil Barthwal said on Friday, stressing that things are looking “more optimistic for foreign trade this year”. Even the…
Read More “Exports grew 9%, but trade gap widened to 7-month high in May” »
Representational image of a newspaper vendor in New Delhi. File picture | Photo Credit: V.V. Krishnan Media bodies — such as print, radio and broadcast players — and their ad agencies, have urged the Ministry of Information and Broadcasting to defer the implementation deadline for a “self-certification” for all advertising. The requirement was put in…
Read More “Advertisers, media organisations push back on self-certification rules for ads” »
Food prices rose 1.14% over April levels. Image used for representative purpose only. | Photo Credit: K. Murali Kumar Inflation in India’s wholesale prices accelerated to a 15-month high of 2.61% in May, more than double April’s pace, with food inflation surging to a 10-month peak of 7.4% driven by steeper prices for vegetables, fruits,…
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Bombay Stock Exchange (BSE). | Photo Credit: REUTERS Benchmark equity indices declined in early trade on Friday amid profit-taking after a record rally in the previous day and fresh foreign fund outflows. The 30-share BSE Sensex declined 206.18 points to 76,604.72. The NSE Nifty dipped 61.5 points to 23,337.40. Among the 30 Sensex companies, Tech…
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In the last 12 months, Mumbai witnessed a 11.5% rise in luxury real estate prices, reaching the third spot globally, after Manila and Tokyo. Delhi’s prime residential prices soared by 10.5% in the last year, finding fifth spot on property consultant Knight Frank’s prime global cities index, which is ranked as per annual percentage change…
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