Category: Business

Business

Interest equalisation scheme for exporters extended till September 30

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Interest equalisation scheme for exporters extended till September 30

Image used for representative purpose only. | Photo Credit: M. Moorthy The government has extended the interest equalisation scheme on pre- and post-shipment rupee export credit for one more month till September 30 to promote the country’s outbound shipments. The scheme, which provides exporters interest benefits, ended on August 31. In June, it was extended…

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SEBI blames ‘external forces’ for fuelling discontent among its staff, says they are well-paid but misguided

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SEBI blames ‘external forces’ for fuelling discontent among its staff, says they are well-paid but misguided

A bird flies past the logo of the Securities and Exchange Board of India (SEBI) at its headquarters in Mumbai on April 19, 2023. | Photo Credit: REUTERS The Securities and Exchange Board of India (SEBI) has blamed “external elements” for “misguiding” its staff, more specifically junior officers in House Rent Allowance (HRA) issues, to target its…

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Business

General Insurance Corporation stake sale oversubscribed by 108.5% on first day

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General Insurance Corporation stake sale oversubscribed by 108.5% on first day

The bids for the offer for sale (OFS) of General Insurance Corporation of India (GIC) was oversubscribed by 108.5% on its first day, according to data from Bombay Stock Exchange. “Offer for sale in GIC got positive response today from non-retail investors. The issue subscribed 1.08 times the base size. The government has decided to…

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Business

Latest ILO study links AI to dip in labour income

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Latest ILO study links AI to dip in labour income

A major reason for the fall in labour income is artificial intelligence, says an ILO report. | Photo Credit: Getty Images/iStockphoto Inequality is on the rise as the share of labour income has stagnated worldwide and a large share of youth remain out of employment, education, or training, according to the International Labour Organisation’s (ILO)…

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Business

U.S. trade deficit widens in July on imports

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U.S. trade deficit widens in July on imports

The U.S. trade deficit in July expanded to its largest since mid-2022, according to government data released on September 4, 2024, as imports rose more quickly than exports. File picture of Port of Long Beach in California. | Photo Credit: AFP The U.S. trade deficit widened sharply in July as businesses front-loaded imports in anticipation…

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IC-814 hijack survivor on Netflix series: ‘Viewers should approach it as entertainment’

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IC-814 hijack survivor on Netflix series: ‘Viewers should approach it as entertainment’

A still from the web series ‘IC 814: The Kandahar Hijack’. | Photo Credit: PTI Pooja Kataria, a passenger on the IC-814 flight hijacked in 1999 says viewers should approach the recently released web series based on the incident as entertainment rather than sparking controversy. Sharing her review of the Anubhav Sinha directorial limited series…

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India’s Reliance wins bid for govt incentives to make EV batteries

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India’s Reliance wins bid for govt incentives to make EV batteries

Reliance. File. | Photo Credit: Reuters Reliance Industries has won a bid under an incentives program which supports EV battery production, a statement from the Indian government said on Wednesday (September 4, 2024). Earlier this year, seven companies submitted bids to set up local manufacturing units for the production of advanced chemistry cells, or ACCs,…

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Business

Nifty halts 14-day rally; Sensex drops over 200 points tracking weak global markets

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Nifty halts 14-day rally; Sensex drops over 200 points tracking weak global markets

Bombay Stock Exchange (BSE). | Photo Credit: Reuters Stock markets closed lower on Wednesday (September 4, 2024) with Nifty taking a breather after a 14-day winning run and Sensex dropping by 202 points due to weak global trends on worries of potential slowdown in the U.S. market. The 30-share BSE Sensex dropped 202.80 points or…

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Business

Domestic demand, easing costs propped up Services in August: PMI

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Domestic demand, easing costs propped up Services in August: PMI

Image used for representation purpose only. Business activity in India’s services sector accelerated at a five-month high pace in August, aided by productivity gains, a pullback in cost pressures which eased to a four-year low, and higher domestic demand. However, optimism among services firms about next year’s prospects slumped to a 13-month low, while it…

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Business

Rupee rises 2 paise to 83.96 against U.S. dollar

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Rupee rises 2 paise to 83.96 against U.S. dollar

Image used for representational purpose. | Photo Credit: Reuters The rupee rose 2 paise to 83.96 against the U.S. dollar in early trade on Wednesday (September 4, 2024) aided by a weakening dollar against major currencies overseas and a drop in crude oil prices. The dollar index, which gauges the greenback’s strength against a basket…

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