Category: Business

Business

Nirmala Sitharaman and Jairam Ramesh spar over Atal Pension Yojana

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Finance Minister Nirmala Sitharaman and Congress general secretary Jairam Ramesh got into a war of words over the Atal Pension Yojana, after Mr. Ramesh termed the scheme “poorly designed”. File | Photo Credit: VENKATACHALAPATHY C Finance Minister Nirmala Sitharaman and Congress general secretary Jairam Ramesh got into a war of words over the Atal Pension…

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Employment scenario in India grim, says ILO report

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While India’s large young workforce is a demographic dividend, an ILO report noted that they don’t appear to have the skills to succeed. File | Photo Credit: The Hindu India’s youth account for almost 83% of the unemployed workforce and the share of youngsters with secondary or higher education in the total unemployed youth has almost…

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Adani Ports to acquire Gopalpur Port for ₹3,350 crore

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Karan Adani, MD, Adani Ports. | Photo Credit: The Hindu Adani Ports and Special Economic Zone Ltd. (APSEZ) said it had entered into a definitive agreement to purchase the 56% stake of the Shapoorji Pallonji Group and 39% stake of Orissa Stevedores Ltd. (OSL) in Gopalpur Port Ltd. (GPL). According to the Shapoorji Pallonji Group,…

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Sensex, Nifty drop on foreign fund outflows, weak US markets

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Image for representation | Photo Credit: PAUL NORONHA Benchmark equity indices Sensex and Nifty declined on Tuesday due to losses in index major Reliance Industries and HDFC Bank amid sustained foreign fund outflows and mixed global trends. The 30-share BSE Sensex declined by 361.64 points or 0.50% to settle at 72,470.30. During the day, it…

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Rupee recovers from all-time low level; rises 29 paise to 83.32

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Forex, equity markets were closed on Monday on account of Holi. File. | Photo Credit: Reuters The rupee recovered from its all-time low level and appreciated 29 paise to 83.32 against the U.S. dollar in early trade on March 26. At the interbank foreign exchange, the domestic currency opened at 83.33 and it gained ground…

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Business

Shapoorji Pallonji Group sells Gopalpur Port in Odisha to Adani Ports for ₹3,350 crore

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Gopalpur port. | Photo Credit: Special Arrangement The Shapoorji Pallonji Group has announced the sale of its brownfield Gopalpur Port to Adani Ports and SEZ Ltd for an enterprise value of ₹3,350 crore. “The under construction Gopalpur Port, located in Odisha, was acquired in 2017, with significant issues hampering its development. Post acquisition, the Shapoorji Pallonji Group commenced…

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Business

Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis

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A file photo of Boeing CEO Dave Calhoun | Photo Credit: Reuters Boeing CEO Dave Calhoun will step down by year-end, in a broad management shake-up brought on by the planemaker’s sprawling safety crisis stemming from a January mid-air panel blowout on a 737 MAX plane. The planemaker also said that Stan Deal, Boeing Commercial…

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No major change in employment status or wages in 10 years: Data

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Women planting paddy seedlings in an agricultural field in Nagaon district of Assam. | Photo Credit: Ritu Raj Konwar On March 11, Bahutva Karnataka, a forum for concerned citizens and organisations, released a report titled ‘Employment, Wages and Inequality’, at the Press Club, Bengaluru. The report analyses the progress in various employment-related indicators in the…

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Pakistan to ‘seriously examine’ restarting trade with India: Foreign Minister

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A file photo of Pakistan’s Minister of Foreign Affairs Ishaq Dar | Photo Credit: AFP Pakistan will “seriously examine” whether to restart trade with India, said its newly appointed Foreign Minister Mohammad Ishaq Dar. Responding to questions during a press meet in London, Mr. Dar said he had been approached last year by Pakistani businesspersons…

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