The Times of India - Business (13 hours ago)
India's foreign exchange reserves surged by $4 billion to reach $670.857 billion for the week ending on July 19, according to the Reserve Bank of India (RBI) on Friday. This rise follows an earlier jump of $9.699 billion, bringing the reserves to an all-time high of $666.854 billion for the week concluding on July 12.
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Vijay Mallya was barred by SEBI from trading and associating with any listed company for three years due to fraudulent activities involving trading shares of his own group companies through overseas accounts. An investigation revealed Mallya used Matterhorn Ventures to channel funds into the Indian securities market, violating regulatory norms. His...
ReadThe Times of India - Business (15 hours ago)
IndiGo saw a profit of Rs 2,729 crore in Q1 FY 2024-25, despite a 12% decline from the previous year. Revenue increased by 17% to Rs 19,571 crore. CEO announced new initiatives for customer engagement. IndiGo's cash balance was Rs 36,100.6 crore, with total debt of Rs 52,526.4 crore.
ReadThe Times of India - Business (20 hours ago)
SK Hynix announced a $6.8 billion investment for its first chip plant in Yongin, South Korea. The plant will bolster AI semiconductor demand and contribute to SK Hynix's growth. The site will also feature a research facility for testing domestic chip materials and equipment. The investment supports the company's long-term growth strategy planned...
ReadThe Times of India - Business (23 hours ago)
Stock market today: The Indian stock market, BSE Sensex and Nifty50, experienced a significant surge as investors looked past the capital gains tax increase announced in the Budget. The rally was primarily driven by buying in the IT and metal sectors.
ReadThe Times of India - Business (23 hours ago)
Gold Bonds: After accounting for redemptions, the net issuances of sovereign gold bonds are now estimated at Rs 15,000 crore for this fiscal year, a significant decrease from the Rs 26,138 crore projected in the interim budget and Rs 25,352 crore in the revised estimate for 2023-24.
ReadThe Hindu - Business (A day ago)
The planned suborbital launch by TiSpace has faced regulatory hurdles and delays amid questions over whether Japan should embrace overseas business as part of its effort to double the size of its 4 trillion yen ($26 billion) space industry over the next decade
ReadThe Times of India - Business (2 days ago)
India is set to receive a shipment of 120 highly advanced Surface-to-Air missiles from Russia, following Prime Minister Narendra Modi's recent visit to Moscow. The 40N6 missiles are designed to strike airborne posts, bombers and hypersonic cruise and ballistic missiles.
ReadThe Hindu - Business (2 days ago)
Farmers in Africa are blaming chemical fertilizers for increasingly acidic soils that have led to production decline; problems with soil health are growing and Africa, which has 65% of the world's remaining uncultivated arable land, has had to spend about $60 billion annually to import food
ReadThe Times of India - Business (2 days ago)
The S&P 500 suffered its biggest single-day decline since December 2022, ending its longest streak without a 2% drop since the onset of the global financial crisis. The Nasdaq 100 was hit even harder, plummeting over 3.5%. Alphabet Inc.'s shares fell 5% after the company invested heavily in its efforts to compete with rivals in AI, resulting in...
ReadThe Times of India - Business (3 days ago)
The Ministry of Finance swiftly detected that certain taxpayers were omitting taxes withheld abroad when determining their total income, resulting in underreporting. These taxpayers declared their overseas income after deducting taxes and simultaneously claimed a foreign tax credit (FTC) against their Indian tax obligation for taxes withheld in...
ReadThe Times of India - Business (3 days ago)
India's government is considering easing investment restrictions on some Chinese firms to enhance domestic manufacturing, according to an official familiar with the matter. Discussions focus on granting exemptions to Chinese companies in high-tech sectors such as solar modules and critical minerals. These discussions involve the ministry of...
ReadThe Hindu - Business (3 days ago)
The Budget has rightly placed emphasis on infrastructure development, MSMEs, skill development and job creation; there are a couple of areas that may merit further consideration by the government, including general fiscal measures outside PLIs, extending the corporate tax window, and incentives for R&D
ReadThe Times of India - Business (3 days ago)
Latest NPS benefits under new tax regime after Budget 2024: If your basic salary is Rs 1 lakh, your employer can contribute Rs 10,000 (10% of basic pay) to the NPS on your behalf, which is exempt from tax. This deduction will be increased to Rs 14,000.
ReadThe Times of India - Business (3 days ago)
Stock market today: The 30-share index BSE Sensex closed at 80,148.88, down by 280.16 points or 0.35 percent, with 19 components ending in the red and 11 in the green. During the trading session, the Sensex plummeted by 678.53 points or 0.84 percent to hit an intraday low of 79,750.51.
ReadThe Times of India - Business (3 days ago)
The 2024-25 Budget allocates Rs 1.52 lakh crore to agriculture, focusing on DPI in 400 districts, releasing 109 climate-resilient crop varieties, promoting natural farming, and achieving self-sufficiency in pulses and oilseeds. Nirmala Sitharaman announced measures including Shrimp Broodstocks, large-scale vegetable clusters, six crore farmers'...
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