City New Delhi Financial News

New Delhi: State-owned MOIL on Wednesday posted an over two-fold growth in its net profit to ₹61.52 crore for the September quarter, helped by higher income. It had clocked ₹27.34 crore net profit in the year-ago period, the company said in a regulatory filing.

BSE on Wednesday, November 8, after the company said US International Development Finance Corporation (DFC) will fund Adani’s joint venture (JV) in Sri Lanka, for $553 million. "US International Development Finance Corporation (DFC) has announced that it will be funding Colombo West International Terminal Pvt. Ltd.

NEW DELHI : State-run railway engineering and consulting company RITES Ltd has launched a new vertical to provide consultancy support to companies looking to enter electric, hydrogen or renewable fuel-based mobility operations. The state-run company is also exploring consulting and certification services in South-east Asia, Africa and Latin America as also rolling stock export options in neighbouring countries to boost its export revenue which had fallen to mere ₹1 crore by the end of the September quarter.

New Delhi: A year ago, Maruti Suzuki India Ltd’s share of the Sports Utility Vehicle (SUV) pie was just 9.5%, way thinner than then leader Tata Motor’s 22.6% slice. Indeed, Maruti was then the fifth biggest SUV maker in the country, even trailing South Korea’s Kia, which had entered the market in 2019. However, in the first half of 2023-24, Maruti, long renowned as a maker of frugal, fuel-efficient small cars, nosed ahead of Mahindra to become the largest SUV maker in the country.

NEW DELHI : The Centre on Tuesday released ₹72,961.21 crore as tax devolution to states for the month of November, the finance ministry said. The payment was made three days in advance to enable state governments to make timely releases and “add to the festivities and celebrations among the people", it added.

Berlin: German authorities are eyeing closer collaboration with Indian startups in mobility, health, energy and advanced materials among other fields, said a German government official, after regulatory and political troubles with China led to a shift in focus toward India. China’s harsh covid-era restrictions also proved an obstacle to German firms, said the official. The city of Berlin, a leading hub for German startups, is particularly interested in building collaborations with Indian startups.

New Delhi: India, in ongoing talks on several free trade agreements, may push for clauses to ensure that steel products imported from the partner country are manufactured in that country rather than being routed through it, commerce and industry minister Piyush Goyal said on Tuesday. Speaking at the 4th edition of ISA Steel Conclave virtually, the minister said that these clauses will ensure that the Indian steel industry is protected from dumping from the developed world.

New Delhi, The Centre on Tuesday authorised release of tax devolution of Rs 72,961.21 crore to states for November. «The Union Government has authorised the release of tax devolution of Re 72,961.21 crore to State Governments for the month of November 2023, on 7th November instead of the usual date 10th November,» the Union finance ministry said in a statement.

The upcoming fifth annual US-India 2+2 Ministerial Dialogue in New Delhi will see the arrival of US Secretary of State Antony Blinken and Defence Secretary Lloyd Austin. During their visit, they will hold discussions with their Indian counterparts, External Affairs Minister S. Jaishankar and Defence Minister Rajnath Singh. The primary focus of these meetings will encompass critical issues, including strengthening defence collaboration, exploring emerging technologies, addressing space-related matters, and adapting to the evolving global landscape.

timed out" dismissal of Sri Lanka's Angelo Mathews in the World Cup clash against Bangladesh has grabbed a lot of headlines. Mathews became the the first cricketer to suffer the dismissal in the 146-year history of international cricket.

₹508 crore has been given to 'Baghel saheb' and others so far. However, the Centre has issued blocking orders against 22 illegal betting platforms, including the Mahadev betting app, at the request of the Enforcement Directorate (ED), an official statement said on Sunday in New Delhi.

World Cup match on November 6 in New Delhi. Angelo, preparing for his first delivery, apparently faced an equipment malfunction when his helmet strap broke. Despite a replacement helmet being fetched, more than three minutes had passed, exceeding the rule of two minutes to face the next ball.

NEW DELHI : JioCinema, owned by Reliance Industries, is adopting a measured approach to its web original strategy by focusing on mid-sized web shows, with estimated annual budget of about ₹1,000 crore, excluding sports. This budget is roughly half the size of leading competitors like Netflix as the platform’s current strategy on web originals is driven by volume primarily to sustain audience interest post-IPL.

NEW DELHI : The government on Monday cut the price of state-produced Bharat Atta by ₹2 a kg from ₹29.50 per kg to keep prices in check amid festival season demand. Launching the scheme, which was announced in February this year, Union consumer affairs, food and public distribution minister Piyush Goyal said on Monday that semi-government and cooperative organizations such as the National Agricultural Cooperative Marketing Federation of India (NAFED) and the National Cooperative Consumers Federation of India Ltd (NCCF) and Kendriya Bhandar will lift 250,000 tonnes of wheat at ₹21.50 per kg under the Open Market Sale Scheme (OMSS) for converting to atta.

NEW DELHI : After years of stagnation, e-sports and video game firms in India have begun generating in-game and advertisement revenues, thanks to India-specific in-game items, a stronger competitive gaming scene, and widespread use of the Unified Payments Interface (UPI) as a convenient last-mile payment method. An industry report by Google and venture capital firm Lumikai, released on 2 November, pegged the annual average revenue per user (ARPU) for India’s gaming industry to reach ₹1,600 by FY23-end, rising tenfold in the past four financial years.

₹33.30-49.9 lakh) price range in a surprising move, given that India had placed EVs on an exclusion list for concessions. The UK’s interest was thought to be in the luxury EV segment. For the UK, access to the Indian EV market remains a priority, and the $40,000-60,000 segment—the so-called premium segment—is thought to be a sweet spot for potential sales and market expansion.

NEW DELHI : Deepfakes, or content generated by artificial intelligence (AI) that morphs a real image or video into a realistic yet misleading form, are a “dangerous and damaging form of misinformation, and need to be dealt with by platforms," said union minister of state for information technology Rajeev Chandrasekhar. The minister’s post, on social media platform X (formerly Twitter), came on the back of a deepfake video of actor Rashmika Mandanna that went viral on the platform.

Eric Garcetti on Saturday visited the visa counter located in Delhi and met with the applicants there who came to get their visa. In a video that was shared by the US Embassy in India, it can be seen the US Ambassador meeting the applicants and interacting with them. “The gang’s all here! Our consular team in New Delhi woke up early this weekend for a special “Super Saturday" dedicated to meeting the unprecedented demand for U.S.

food grain programme will not have a major impact on the fiscal deficit in the financial years 2023/24 and 2024/25, an Indian government source said on Monday. Prime Minister Narendra Modi said on Saturday that his government would extend a welfare scheme, which provides free grain to more than 800 million people and was due to end in December, by five years. The move aims to shield consumers from the rising prices of cereals ahead of a general election early next year, but could lead to higher government spending and require New Delhi to procure more wheat and rice from farmers to sustain the scheme. Before the extension, the free food grain program was estimated to cost the government around 2 trillion rupees ($24.04 billion) this year. The costs would broadly remain the same, a second government official said, but added that an increase in grain prices could lead to limited additional spending for 2023/24 of between 50 billion to 70 billion rupees.

India-Canada row: The ties between India and Canada have been strained after Canadian Prime Minister Justin Trudeau in September alleged the involvement of "agents of the Indian government" in the killing of Khalistani terrorist Hardeep Singh Nijjar in June this year. India on the other hand has rejected the claims and called the allegations as "absurd and motivated." Since then Ottawa and New Delhi announced tit-for-tat expulsions of diplomats in the wake of Trudeau's allegation of Indian involvement in Nijjar's killing. India also temporarily suspended the issuance of visas to Canadian citizens and asked Ottawa to downsize its diplomatic presence in the country to ensure parity.

Aam Aadmi Party (AAP) leader Harpal Singh Cheema on Monday said that most stubble-burning is happening in Bharatiya Janata Party (BJP)-ruled states, like, Uttar Pradesh and Haryana and alleged that the BJP is maligning Punjab's image under a well-fabricated conspiracy. While speaking to ANI, Cheema said, “The BJP is maligning Punjab's image under a well-fabricated conspiracy. In fact, most stubble-burning is happening in the states like Haryana and Uttar Pradesh, which are ruled by them.