Business & Economy

July 14, 2024 5:06 PM

Expect retail inflation to remain close to 5%: SBI research report

Retail inflation, or the Consumer Price Index (CPI), in India is expected to remain below or close to 5.0 percent in the remaining months of 2024-25, except for September, according to SBI Research. India's retail inflation rate increased in June, deviating from the moderation seen in previous month...

July 13, 2024 12:42 PM

Robust net direct tax collection in FY25, (upto July 11) up 19.54 per cent

The net direct tax collection of the government registered a significant growth of 19.54 per cent in financial year 2024-25, amounting to Rs 5,74,357 crore by July 11, highlighted the data by the income tax department. Last year during the same period the net direct tax collection was Rs 4,80,4...

September 16, 2024 5:58 PM

India seeks expedited S-400 missile system deliveries from Russia

Amid the growing close ties between India and Russia, New Delhi has asked Moscow to expedite and advance the deliveries of the S-400 air defence missile system deliveries. The request comes amid delays caused by Russia's ongoing conflict with Ukraine. According to current projections, the fourth an...

July 12, 2024 10:36 PM

PM Modi to dedicate projects worth Rs 29,400 crore in Mumbai visit

Prime Minister Narendra Modi is set to visit Mumbai on Saturday, where he will launch, dedicate, and lay the foundation stone for various projects valued at approximately Rs 29,400 crore, according to an official release from the Prime Minister's Office. The Prime Minister's itinerary begins at 5:3...

September 16, 2024 6:06 PM

India’s retail inflation surges past 5% in June, triggered by food prices

India's retail inflation rate has broken its recent trend of moderation, climbing above 5% in June 2024, primarily due to rising food prices. This uptick poses fresh challenges for policymakers who have been working to manage inflationary pressures. According to official data released Friday, the C...

September 16, 2024 5:58 PM

India’s foreign exchange reserves hit record high of $657.2 billion

The Reserve Bank of India (RBI) reported on Friday that for the week ending July 5, the nation's forex reserves surged by $5.158 billion, touching an unprecedented $657.155 billion. This figure surpasses the previous record of $655.817 billion set just last month. The steady climb of India's forex ...

July 12, 2024 5:53 PM

JPMorgan profit jumps on higher investment banking fees, accounting gain

JPMorgan Chase reported a 25%rise in second-quarter profit on Friday, buoyed by rising investment banking fees and an accounting gain of about $8 billion from a share exchange deal with Visa. Wall Street banks have benefited from a resurgence in capital-raising activity in debt and equity markets. ...

July 12, 2024 6:10 PM

Sensex, Nifty close at all-time highs

Indian stock markets surged to new record highs on Friday, buoyed by a combination of easing US inflation, robust results from Tata Consultancy Services (TCS), and a generally positive market sentiment. The Sensex climbed over 600 points, or 0.8%, to close at 80,519 points, while the Nifty rose by 1...

July 12, 2024 1:54 PM

Vizhinjam port welcomes first mothership

Adani Ports and SEZ announced on Friday the arrival of the first mothership at Vizhinjam International Seaport in Thiruvananthapuram, India's first deepwater trans-shipment port. The inauguration event was led by the Chief Minister of Kerala, Pinarayi Vijayan, with VN Vasavan, the Minister for Port...