Category: Business

Business

Fundamental sciences important in developing talent for future: GE Aerospace CTO

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Alok Nanda, pictured above, is the CEO, GE India Technology Centre & CTO, GE Aerospace – India | Photo Credit: GE Vernova As the aerospace industry continues to push the boundaries of innovation, one thing remains clear: fundamental sciences are at the heart of ground-breaking technological advancements. “We emphasize the importance of fundamental sciences in…

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Bangladesh halves power buying from Adani amid payment dispute

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Gautam Adani, Chairman, Adani Group. | Photo Credit: ANI Bangladesh has halved the power it buys from Adani Power, citing lower winter demand, government officials told Reuters on Monday (December 2, 2024), amid disagreements over dues running into hundreds of millions of dollars. Adani, whose founder has been accused by U.S. authorities of being involved…

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What is Centre’s new Oilfields Bill? How will it change India’s petroleum industry?

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The story so far: Parliament’s winter session has remained chilly as a stand-off continues between the Centre and Opposition over the indictment of Indian businessman Gautam Adani by the US Department of Justice (DoJ). The Rajya Sabha had listed the Oilfields (Regulation and Development) Amendment Bill, 2024 for passage on Monday (December 2, 2024), but…

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Sensex, Nifty settle higher on buying in blue-chips

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People outside the Bombay Stock Exchange (BSE), Mumbai. | Photo Credit: REUTERS Benchmark indices Sensex and Nifty ended higher on Monday (December 2, 2024) amid buying in blue-chip stocks Reliance Industries, Infosys and HDFC Bank along with a firm trend in the U.S. markets. Recovering the early lost ground, the BSE benchmark Sensex climbed 445.29…

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Rupee drops 13 paise to all-time low of 84.73 against U.S. dollar

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Image for representational purposes only. | Photo Credit: Getty Images The rupee depreciated 13 paise to close at an all-time low of 84.73 (provisional) against the U.S. dollar on Monday (December 2, 2024), on disappointing macroeconomic data and broad strength of the American currency in the overseas markets. Forex traders said Asian currencies were down…

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Trump’s 100% tariff threat on BRICS depends on whether U.S. laws would permit it, says ex-RBI governor

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File picture of former Reserve Bank Governor Duvvuri Subbarao | Photo Credit: K.V.S. Giri U.S. President-elect Donald Trump’s warning that BRICS countries will face 100% tariffs if they choose to move away from the U.S. dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the…

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Govt scraps windfall profit tax on domestic crude oil, export of fuels

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India first imposed windfall profit taxes on July 1, 2022 joining a growing number of nations that tax super normal profits of energy companies. Representational file image. | Photo Credit: Reuters The government on Monday (December 2, 2024) scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF),…

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Adani Green Energy shares jump 9% in morning trade

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A vehicle drives past solar panels installed at the Adani Green Renewable Energy Plant in Khavda, Gujarat. | Photo Credit: AFP Shares of Adani Green Energy jumped 9% on Monday (December 2, 2024) morning after Adani group chairman Gautam Adani said his conglomerate was committed to compliances and “every attack makes us stronger” amid recent…

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Tax cuts may have saved 3 lakh crore rupees for India’s largest corporates: Data

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Taxed at a significantly lower rate following the introduction of the concessional tax regime in 2019, India’s largest corporates may have saved over ₹3 lakh crore in tax payments since then. This is in addition to over ₹8 lakh crore in revenue foregone through various deductions granted to companies in the decade since 2012-13 (FY13)….

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Manufacturing growth slipped in November to joint 11-month low

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Image used for representative purpose only | Photo Credit: N. Bashkaran Factory activity expansion in India’s private sector fell to a joint-11 month low in November, while firms raised prices at the swiftest pace in over eleven years as input cost pressures began to bite, as per the survey-based HSBC India Manufacturing Purchasing Managers’ Index…

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