Union Cabinet approves 78-day productivity linked bonus for over 11 lakh railway employees
Nov 10, 2024, at 02:58 pm
New Delhi: The Union Cabinet has approved the disbursement of a Productivity Linked Bonus (PLB) to 11,72,240 railway employees, with a total financial outlay of Rs 2,028.57 crore.
Global oil prices shoot up for third consecutive day amid escalating Middle East conflicts
Nov 10, 2024, at 02:58 pm
New York/IBNS: Escalating tensions between Israel and Iran in the Middle East have driven global crude oil prices upward, and the situation could worsen following Iran's launch of around 180 ballistic missiles at Israel in response to the deaths of Hamas, Hezbollah, and Iranian military leaders.
Ship queue increases at major US ports as dockworkers' strike enters third day
Nov 10, 2024, at 02:58 pm
New York/IBNS: A growing number of container ships were lined up outside major ports in the United States on Thursday (Oct. 1) as the largest dockworker strike in nearly 50 years entered its third day, disrupting cargo unloading and threatening shortages of goods ranging from bananas to auto parts, media reports said.
Apple may turn to China as fire halts production at Tamil Nadu iPhone plant: Report
Nov 10, 2024, at 02:58 pm
Chennai/IBNS: A fire at Tata Group's plant in Tamil Nadu, which produces components for Apple iPhones, could disrupt production ahead of the festive season sales surge, Reuters reported, citing industry experts and a source familiar with the situation.
ChatGPT maker OpenAI secures $6.6 billion funding with investment from Microsoft, Nvidia
Nov 10, 2024, at 02:58 pm
California/IBNS: American artificial intelligence (AI) research company OpenAI has secured $6.6 billion in investments, potentially valuing the ChatGPT maker at $157 billion, positioning it among the world’s most valuable private enterprises, Reuters reported.
BSE to retain weekly options linked to Sensex after SEBI's new F&O framework: Report
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: The BSE will continue offering weekly derivative contracts linked to the Sensex, after the new, stricter regulations on equity derivatives set by India's market regulator the Securities and Exchange Board of India (SEBI), Reuters reported, citing two sources familiar with the matter.
Investors' Rs 7 lakh crore wiped out as Sensex plunges over 1,300 points, Nifty50 below 25,550
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: Benchmark Indian equity indices, BSE Sensex and NSE Nifty50, experienced a significant downturn on Thursday (Oct. 3), with the Sensex plummeting over 1,300 points and the Nifty50 falling below 25,450.
Ajax Engineering files IPO papers with SEBI
Nov 10, 2024, at 02:58 pm
Mumbai: Concrete equipment manufacturer Ajax Engineering, which offers services and solutions across the concrete application value chain, has filed the draft red herring prospectus with capital markets regulator SEBI to float an initial public offering.
India’s digital revolution set to create a $1 trillion economy by 2028: Report
Nov 10, 2024, at 02:58 pm
New Delhi: India’s financial ecosystem has undergone a significant transformation, driven by deep internet penetration, affordable 4G and 5G services, and a range of government digital initiatives.
Nov 10, 2024, at 02:58 pm
Kolkata: Railway Minister Ashwini Vaishnaw on Wednesday said there is a Rs 60,000-crore investment opportunity for the railways in West Bengal, media reports said.
Tesla misses Q3 delivery expectations amid stiff competition in China and Europe: Report
Nov 10, 2024, at 02:58 pm
Tesla delivered fewer vehicles than analysts had anticipated in the third quarter, facing pressure from strong competition in China and Europe, which dampened demand for its aging models, Reuters reported.
NBFC loan sanctions rise 12% YoY in Q1FY25, led by growth in home, auto, and personal loans: Report
Nov 10, 2024, at 02:58 pm
New Delhi: Loan sanctions by non-banking finance companies (NBFCs) in India saw a 12% year-on-year (YoY) increase in the first quarter of the current financial year (Q1FY25), driven by strong growth in home, auto, and personal credit segments, media reports said.
Reliance Group partners with Bhutan for major solar and hydropower projects
Nov 10, 2024, at 02:58 pm
Thimphu: Reliance Group announced a strategic collaboration with the government of Bhutan to develop large-scale solar and hydropower projects.
Adani Enterprises merges two subsidiaries to bolster green energy initiatives
Nov 10, 2024, at 02:58 pm
Mumbai: Adani Enterprises Ltd. (AEL) has consolidated two of its subsidiaries with Adani New Industries Ltd. (ANIL) as part of its strategy to enhance its green energy portfolio.
India's booming IPO market: 47 companies raise over Rs 16,000 crore in September
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: While India's secondary market continues to soar, with benchmark indices hitting new highs daily, the primary markets are also experiencing a wave of activity.
Wave of IPOs to hit Dalal Street as 13 companies file draft papers with SEBI in a single day
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: A surge of initial public offerings (IPOs) is set to hit the Indian stock market, with more than a dozen companies, including Vikram Solar, Aditya Infotech, and Varindera Constructions, submitting preliminary filings to market regulator SEBI in a single day.
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: In September 2024, the Indian car market experienced a slight year-on-year (YoY) decline of 1.1 percent, with total car sales reaching 3,58,886 units, compared to 3,62,876 units in September 2023.
Asian shares decline, oil and safe-haven assets surge following Iran's strike on Israel
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: Oil and safe-haven assets surged after Iran launched a missile attack on Israel, causing US stocks to fall on Tuesday (Oct. 1) as investors sought safety, reports Bloomberg.
Piyush Goyal discusses investment avenues with existing and potential US investors
Nov 10, 2024, at 02:58 pm
New York: Commerce and Industry Minister Piyush Goyal chaired a roundtable discussion with young CEOs and entrepreneurs of Indian origin in New York organised by the Consulate General of India to discuss the business landscape of India and provide suggestions for reforms.
SEBI announces strict measures for index derivatives to curb speculative trading
Nov 10, 2024, at 02:58 pm
Mumbai: The Securities and Exchange Board of India (SEBI) has introduced a series of measures to strengthen the index derivatives framework, aiming to protect investors and stabilize the market, media reports said.
India appoints three new members to RBI's Monetary Policy Committee
Nov 10, 2024, at 02:58 pm
New Delhi: The government has appointed Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as the new external members of the Reserve Bank of India's Monetary Policy Committee (MPC), according to a government statement released on Tuesday.
Ford likely to manufacture EVs in Tamil Nadu: Report
Nov 10, 2024, at 02:58 pm
Chennai: Ford Motor Co. is in talks to produce electric vehicles at its southern India plant in Tamil Nadu, which marks its potential return to the world’s third-largest car market three years after shutting down its local factories.
Mobile retailers urge govt to revoke Chinese brands’ licenses for anti-competitive practices: Report
Nov 10, 2024, at 02:58 pm
New Delhi: The All India Mobile Retailers Association (AIMRA) has called on the Central government to revoke the licenses of Chinese smartphone brands such as iQoo, Poco, and OnePlus, accusing them of anti-competitive practices that hurt local retailers and result in financial losses to the exchequer, media reports said.
India's manufacturing activity slows to to an eight-month low in September: Private survey
Nov 10, 2024, at 02:58 pm
New Delhi/IBNS: India's manufacturing sector slowed to an eight-month low in September as factory output and sales growth decelerated, and international orders saw their weakest rise in 18 months, according to a private survey released on Tuesday (Oct. 1).
How to Save Tax with SIP Investment?
Nov 10, 2024, at 02:58 pm
People can invest whenever they want throughout the year, whether it’s for placing extra funds in the market or for saving taxes. However, an issue arises when the employees are told to provide their plans for tax-saving several months before the end of the economic year. When you make an investment at the last moment, it may lead to many risks, such as choosing an incorrect product to fund, which does not provide you with the outcomes you need. That’s why it is always better to invest to save tax with the help of SIP and achieve the outcomes that you desire.
Shapoorji Pallonji Group likely to upsize Afcons Infrastructure IPO plan to Rs 8,500 crore: Report
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: The Shapoorji Pallonji (SP) Group is considering increasing the size of the initial public offering (IPO) for Afcons Infrastructure Ltd, with the aim of raising between Rs 8,000 and Rs 8,500 crore due to strong interest from institutional investors, Moneycontrol reported, citing people familiar with the matter.
Ravi Ahuja to take over as Sony Pictures CEO as Tony Vinciquerra will step down in early 2025
Nov 10, 2024, at 02:58 pm
California/IBNS: Sony Pictures Entertainment (SPE) revealed on Tuesday (Oct. 1) that its Chairman and CEO, Tony Vinciquerra, will step down from his position on January 2, 2025, and Ravi Ahuja, the current Chief Operating Officer (COO), who has been with SPE since 2021, will take over as the new CEO.
Commercial LPG cylinder rate increased by Rs 48.5 ahead of festive season
Nov 10, 2024, at 02:58 pm
New Delhi/IBNS: Ahead of the festive season, the Indian oil marketing companies have implemented a price hike for commercial LPG gas cylinders, with the new rates taking effect on Tuesday (Oct. 1).
SEBI objects to use of IPO proceeds for repaying promoter loans: Report
Nov 10, 2024, at 02:58 pm
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, has raised objections to companies using proceeds from share sales to repay loans taken from promoters or promoter entities, Moneycontrol reported, citing sources familiar with the matter.
Meta CEO Mark Zuckerberg enters the elite $200 billion club, becomes world's fourth-richest person
Nov 10, 2024, at 02:58 pm
California/IBNS: Meta CEO Mark Zuckerberg has officially entered the elite $200 billion net worth club, marking a major achievement in his financial trajectory.