City New Delhi Financial News

Mint on 28 December 2023 reported that legal scrubbing of both the pillars had started and the deal is expected to be signed in 2024. “Both the pillars are very important for the country. The clean economy (Pillar-III of the IPEF) is aimed at cooperation on research, development and commercialisation of clean energy and climate-friendly technologies," the second person said.

NEW DELHI : On Wednesday, Bitcoin—the world’s highest-valued cryptocurrency token by market cap—hit a record high of over $73,600, reviving hopes for India’s cryptocurrency market that has been through a harrowing two years. But despite a threefold surge in Bitcoin prices in a span of six months, Indian crypto exchanges are only reaping partial benefits. Indian crypto exchange WazirX’s daily average trading volume recovered to $3.4 million in February from about $780,000 in September, show data from consultancy firm Crebaco Global.

India’s Agni-5 test of a multiple-warhead ballistic missile places the country in a league of powers with only the US, UK, Russia, China and France as other members. Importantly, its success steps up India’s deterrence at a time China has openly begun to pursue a policy of power projection beyond its borders. Though not strictly an intercontinental ballistic missile (ICBM) of the order possessed by the Big Five that can hit targets as far as 15,000km, its 5,000km-plus range brings the farthest parts of China and even some of Europe within our strike radius.

NEW DELHI : Liquor ad masquerading as soda? Tobacco ad in the guise of cardamom? Companies pushing surrogate advertisements of products they are not allowed to promote may face stiff penalties to be specified in upcoming consumer protection guidelines, two officials aware of the plans said. A committee formed by the Central Consumer Protection Authority (CCPA) on surrogate advertisements is meeting next week to discuss the matter, one of the two officials said. Promotional activities must be genuine, and companies should not misuse legal provisions for brand extension, the official said on condition of anonymity.

NEW DELHI : A sharp rise in onion prices in the middle of an export ban has prompted the Centre to consider extending the restriction beyond 31 March, a senior official aware of the matter said. At ₹33.34 a kg, the all-India average onion price in the retail market was 41.3% higher than the previous year on Wednesday, data from the consumer affairs ministry showed.

₹11.1 trillion, up more than 11% from the ₹10 trillion budgeted for 2023-24 (and up 17% from this year’s revised budget estimate). The finance minister’s speech laid emphasis on the substantial multiplier effect of capex on both economic growth and employment generation. Employment is the link between economic growth and higher standards of living.

Bharatiya Janata Party (BJP) on Wednesday announced names of seven more candidates in Gujarat, which has 26 Lok Sabha seats, dropping five sitting MPs, including junior Railway minister Darshana Jardosh, and replacing them with new faces. On March 2, the BJP, in its first list of 195 candidates, had announced nominees for 15 Lok Sabha seats in Gujarat, where the saffron outfit had swept the polls in 2019. After the release of second list of 72 candidates in New Delhi, contestants for only four seats in the BJP-ruled state remain to be declared by the saffron party.

NEW DELHI : Prime Minister Narendra Modi laid the foundation stone for three semiconductor projects worth about ₹1.25 trillion on Wednesday, saying chip manufacturing will take India towards self-reliance and modernity. “India is set to become a prominent semiconductor manufacturing hub. The three facilities will drive economic growth and foster innovation," he said in a virtual address during the foundation ceremony.

NEW DELHI : New Delhi: Packaged consumer goods company Hindustan Unilever Ltd (HUL) plans to “significantly" expand its premium beauty business and accelerate premiumization across its existing personal care brands, such as Tresemme and Lakme, three years after introducing a range of digital-first brands, said a top company executive. The premium beauty business unit (PBBU) brands have achieved an annual recurring revenue (ARR) of ₹100 crore, in record time, since its inception three years ago, the company said.

Piyush Goyal is all set to take the plunge in the rough and tumble of electoral politics as the BJP's candidate from Mumbai North in the upcoming Lok Sabha polls. A three-term Rajya Sabha member, Goyal (59) has been in the thick of politics since his teenage years when he campaigned for his mother, late Chandrakanta Goyal, for the Maharashtra Assembly election. Ved Prakash Goyal, Piyush Goyal's father, was an old-time RSS worker who worked closely with Sangh stalwarts Balasaheb Deoras, Atal Bihari Vajpayee and L K Advani. The Goyal home at Sion in central Mumbai was a beehive of political activity, with veteran leaders opting for it as a residence of choice when visiting the metropolis. Piyush Goyal, known largely by his pet name «Happy», had the task of escorting leaders around Mumbai. The formal alliance of the Bharatiya Janata Party (BJP) and the Shiv Sena was also struck at the Goyal residence after a meeting between Sena supremo Balasaheb Thackeray and Vajpayee in 1984.

NEW DELHI : On Tuesday, Apple announced “more flexibility" in terms of enabling app downloads from outside of its proprietary applications marketplace. While the move is selective to a filtered group of apps, and applicable only in the European Union (EU), industry stakeholders said that the move is of great significance, and will set a global precedent in anti-competition and digital markets regulations across the world—including in India.

NEW DELHI : Tata Group aims to begin commercial production from India’s first semiconductor fabrication unit by 2026, an aggressive timeline considering the country’s long wait to become self-reliant in chips that power technology ranging from smartphones to defence systems. Tata Electronics Pvt. Ltd’s plant in Assam will begin with producing semiconductor chips starting at 28 nanometres, said N.

Mukhtar Ansari joined the court proceedings via video conference from Banda Jail, where he is currently lodged. The order was passed by the special MP-MLA court of judge Awanish Gautam, district government counsel Vinay Singh said. The case against Mukhtar Ansari was registered under IPC sections 467 (forgery), 468 (forgery for purpose of cheating) and 120B (criminal conspiracy), along with provisions of the Arms Act at Mohammadabad police station of Ghazipur district in December 1990, News agency PTI quoted Vinay Singh.

Adani Group stocks plunged up to 13% on Wednesday, erasing nearly Rs 90,000 crore from the combined market capitalisation of the 10 listed stocks. The top loser in the day's trade was Adani Green Energy, which lost 13% to hit the day's low of Rs 1,650 on the NSE. It was followed by Adani Total Gas and Adani Energy Solutions which cracked nearly 8% each. Nifty constituents Adani Enterprises and Adani Ports & Special Economic Zone dropped around 7%. Others including Adani Power, Adani Wilmar, ACC, Ambuja Cements, and New Delhi Television (NDTV) fell up to 5%.

NEW DELHI : A new league of celebrities or influencers is being spawned by the reach provided by social media platforms, beyond the conventional realms of movies and sports. From chefs like Ranveer Brar to startup founders like Aman Gupta, people with skill and panache are creating content on social media to cater to niche communities. They are even investing in building teams and production setups to create professional-looking content regularly.

Telangana. The Ministry of Road Transport and Highways issued a gazette notification on Tuesday. The new prefix on registration plates will be effective immediately, said Telangana Special Representative in New Delhi Mallu Ravi’s office.

semiconductor chip from the new plant being set up by the Tata Group and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) in Gujarat’s Dholera, will be ready to roll out by the end of 2026, according to Frank Huang, chairman of PSMC. Speaking exclusively to ET ahead of the ground-breaking ceremony for the $11 billion project that is scheduled for Wednesday, Huang said the contours of the JV with the Tatas are yet to be finalised. “At the moment we have decided to work out the technology transfer. Later we can talk about investment,” the 74-year-old said. PSMC is a maker of memory chips that also provides foundry services to its customers.

New Delhi/Mumbai: Europe’s proposed carbon tax has split the Indian steel industry down the middle, with some companies in favour and others against, even as lobbying to waive or delay the levy continues. The tax, under the carbon border adjustment mechanism (CBAM), would increase costs for Indian steelmakers exporting to Europe, a key destination that is critical for their businesses. The tax has been supported by companies with major operations in Europe, such as Tata Steel.

NEW DELHI : Digital economy firms violating provisions of an upcoming competition law to govern them may be penalized up to 10% of their global turnover, a top government panel recommended. The corporate affairs ministry panel led by its secretary Manoj Govil on Tuesday proposed a new set of compliance obligations for influential digital economy firms such as Google, Apple and Meta.

NEW DELHI : Jet Airways received a glimmer of hope for its revival after an appellate tribunal directed the bankrupt airline’s lenders to hand over the company to its successful bidder, the Jalan-Karlock consortium, within 90 days. The National Company Law Appellate Tribunal on Tuesday also upheld the resolution plan for Jet Airways, which has been grounded since 2019 amid mounting debt and a liquidity crisis. The National Company Law Tribunal had in January 2023 allowed the handover of Jet Airways’ ownership to the Jalan-Karlock consortium.

NEW DELHI : India’s tourism sector is yet to recover from the pandemic years, with international travellers who bring in higher tourism dollars preferring other countries in the Asia-Pacific region over domestic destinations. Despite a resurgence of global travel last year, India welcomed only about 7.24 million international travellers in 2023, according to the ‘India State Ranking Survey’ by hospitality consultancy Hotelivate and The World Travel & Tourism Council (WTTC). Prior to the pandemic, in FY20, India received about 10.93 million international travellers, as per India’s tourism ministry. Of them, about 6.98 million were non-resident Indians visiting family and friends back home.