Category: Business

Business

Mukesh Ambani’s children join Reliance Board; Nita Ambani to step down

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Reliance Industries chairman Mukesh Ambani Chairman poses with (from 2nd R to L) wife Nita Ambani, children Isha Ambani, Anant Ambani, and Akash Ambani. File | Photo Credit: Reuters The Board of Directors of Reliance Industries Limited (RIL), at its meeting held on August 28 on the recommendation of the Human Resources, Nomination and Remuneration…

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Business

Isha, Akash, Anant Fasten Reliance Board

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Mukesh Ambani is the chairman of Reliance Industries Restricted (Record) Reliance ushered in a untouched occasion of management with Nita Ambani stepping i’m sick from the board of administrators and making approach for her kids Isha, Akash, and Anant. Isha Ambani, Akash Ambani and Anant Ambani are all set to be appointed non-executive administrators of…

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Business

Sensex climbs 177 points, Nifty gains 62 in early trade

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Equity benchmark indices climbed in early trade on Monday, August 28, 2023, tracking strength in global markets. The BSE Sensex climbed 177.63 points to 65,064.14 in early trade. The NSE Nifty gained 62.2 points to 19,328. From the Sensex pack, Jio Financial Services Ltd, Tata Steel, Larsen & Toubro, Sun Pharma, Power Grid, HDFC Bank…

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India, U.K. to continue FTA negotiations till August-end

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Union Minister of Commerce and Industry Piyush Goyal meets Kemi Badenoch, U.K. Secretary of State for Business and Trade, on August 26, 2023 | Photo Credit: ANI Indian and U.K. officials will continue their negotiations till the month-end to iron out differences on the proposed free trade agreement (FTA), the Commerce Ministry said on August…

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Business

Government imposes restrictions on export of Basmati rice

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The Union Commerce Ministry has directed the Agricultural & Processed Food Products Export Development Authority to hold consultations with Basmati traders to sensitise them about the matter. File | Photo Credit: The Hindu By banning the export of Basmati rice valued at less than $1,200 per metric tonne (MT), the Union government on August 28…

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Business

EFTA looking at reduction in trade barriers on pharma, Swiss chocolate, fish in proposed pact with India

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 Currently, there are approximately 330 Swiss companies in India, creating more than 1,70,000 jobs. More than half of them manufacture in India and export from there worldwide. | Photo Credit: Reuters, The Hindu Four-nation bloc EFTA is looking at significant reduction in trade barriers on sectors such as machine tools, advanced chemicals, pharma, chocolates, Norwegian and Icelandic…

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Business

Stock exchanges slap fines on IOC, ONGC, GAIL for failure to meet listing regulations

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Stock exchanges have slapped fines on state-owned oil and gas firms including IOC, ONGC and GAIL for their failure to meet listing requirements | Photo Credit: Reuters Stock exchanges have slapped fines on state-owned oil and gas firms including IOC, ONGC and GAIL for their failure to meet listing requirements of having a requisite number…

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Business

Vedanta wins arbitration against government in $1.1-billion cost disallowance case

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A man walks past the logo of Vedanta outside its headquarters in Mumbai. File | Photo Credit: Reuters Mining magnate Anil Agarwal’s Vedanta Ltd has won an arbitration against a demand for a higher payout from its prolific Rajasthan oil and gas fields after disallowance of ₹9,545 crore ($1.16 billion) in certain costs incurred, the…

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Business

Explained | Why was a 40% duty imposed on onion exports? 

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The government will also be offloading its onion stocks in various wholesale markets to reduce retail prices | Photo Credit: Vijay Soneji The story so far: In order to increase the availability of onions in the market, especially ahead of the upcoming festive season, the government on August 19 imposed a 40% duty on the…

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Business

Chandrayaan-3 opens up avenues for Indian companies in aerospace sector, says director of Coimbatore firm that worked with ISRO

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Chakradhara Aerospace and Cargo Private Limited (CACPL) in Coimbatore had been a part of the Chandrayaan-3 mission. With its aerospace division, started in 2004, the firm works with ISRO and DRDO, and has been part of several critical projects. Director Jaidev Jayavarthanavelu highlights the opportunities that have opened up following the success of Chandrayaan-3. Edited…

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