City New Delhi Financial News

NEW DELHI : The Union government is likely to press ahead with legislative reforms in the winter session of Parliament, targeting changes to the Insolvency and Bankruptcy Code (IBC) and the Companies Act on which substantial groundwork has already been done, a person familiar with the development said. Separately, an expert committee of the ministry of corporate affairs (MCA) is set to finalize its recommendations for a digital competition law, after which it will be circulated for inter-ministerial discussions and then for consideration by the Union cabinet, the person, who spoke on condition of anonymity, said.

NEW DELHI : Rainfall is expected to make a marginal recovery this week, but it may not be enough to offset August’s 40% deficit in regional rains, private weather forecaster Skymet said. Barring Northwest India, the remaining three regions are facing rainfall deficiency as El Nino gathers strength and Indian Ocean Dipole (IOD) climate pattern index remains neutral. Madden Julian Oscillation (MJO) is seen to contribute to El Nino as it gains strength in the coming weeks.

NEW DELHI : India’s first national policy on research and development in pharmaceuticals and medical technology sets out to create a ‘new drug discovery mission’, a move that would focus on Indian ailments and plug a gap in the world’s biggest manufacturer of generics. The policy also pushes the promotion of R&D in animal health care as about 70% of infectious diseases in the last three decades globally have originated in animals.

NEW DELHI : Foreign Secretary Vinay Mohan Kwatra on Monday downplayed the possibility of Brics countries developing a common currency. Briefing the media, Kwatra said deliberations among Brazil, Russia, India, China and South Africa have been focused on boosting trade in national currencies instead of on developing a common currency.

NEW DELHI : Vietnam is pushing for a visit to India by its Prime Minister Pham Minh Chinh, according to persons aware of the matter. India and Vietnam have forged a close strategic partnership in recent years.

India’s latest inflation number at 7.4% comes as a shocker, with doom-speak all around. This is so because we have been talking of getting to 4%, which was axiomatically taken to be the ideal mark. This is analogous to the US, which has a target of 2%.

Narendra Modi came to power in 2014. From being a net importer, India has become a net exporter of handsets. Elsewhere in Asia, the contest is over semiconductors.

BRICS group of countries starts on Tuesday in South Africa, the only add-on member of what began as a quartet of Brazil, Russia, India and China, which formed the original ‘BRIC’ coined by Goldman Sachs two decades ago by clubbing together hot emerging markets for global investors to bet on. Such summitry has been a regular feature since 2009, and its most notable achievement has been the Shanghai-based New Development Bank set up by the group as a multilateral lender, an alternative to the West-led World Bank and International Monetary Fund. What’s new is the context: a geopolitical upheaval is underway in the post-Ukraine-war world.

New Delhi: The 27th edition of Exercise Malabar concluded on the East Coast of Australia off Sydney on 21 August, the ministry of defence said. The exercise saw participation of ships, submarines and aircraft from the Indian Navy (IN), Royal Australian Navy (RAN), Japan Maritime Self Defence Force (JMSDF) and the US Navy (USN).

Covid-19 pandemic. Dhankhar said that our doctors, nurses and paramedical staff vindicated our civilizational ethos and came to our rescue even while risking their own lives.

Bombay High court (HC) granted interim relief to the erstwhile Directors of ABG Shipyard Group against the eviction notices issued by the Enforcement Directorate (ED) directing them to evict their residential premises in relation to money laundering case registered against ABG Shipyard Ltd. They have been booked in a money laundering case of Rs.

New Delhi: Denmark-based logistic firm A P Moller-Maersk on Monday said it is expanding its fleet of electric vehicles to over 500 for deployment across 26 cities covering first, middle and last-mile distribution for one of the top e-commerce platforms in India. The expansion ties with Maersk’s ambition to become net zero across businesses and provide customers with 100% green solutions by 2040, it said.

New Delhi: The G20 Pandemic Fund has granted $25 million to India's animal husbandry & dairying department to aid pandemic preparedness and response, according to the ministry of fisheries, animal husbandry & dairying. This funding will improve India's animal health system, a crucial part of the One Health approach for pandemic prevention.

New Delhi: State-owned Power Finance Corporation (PFC) on Monday said it has signed a loan agreement with Japan Bank for International Cooperation (JBIC) for JPY 1.85 billion or $1.28 million for a waste-to-energy project in Karnataka. The agreement was signed under the long-term facility of JPY 30 billion provided by JBIC to PFC.

New Delhi: A growing number of Indian consumers are turning to their mobile devices to check prices of products while shopping in brick-and-mortar stores, indicating a rise in the adoption of omnichannel retail behaviour. “For five in 10 India consumers, e-commerce websites and search engines are the top sources of pre-purchase information, while three in 10 check in with their family, friends and colleagues before deciding on a purchase.

New Delhi, Anand Vihar, Sarai Rohilla, and Old Delhi, have witnessed a notable increase in the retrieval of lost luggage this year. Data compiled by the Railway Protection Force (RPF) reveals a significant rise in the recovery of lost baggage, amounting to Rs 1.2 crore, until June across more than 13 stations in Delhi. This surge contrasts with the previous year's statistics, where lost items worth over Rs 64 lakh were reclaimed within the same period.

WeWork India, the leading workplace provider, has leased 54,000 sq ft office space in New Delhi, its 50th workspace in the country. The new building also marks WeWork India’s foray into New Delhi. The newly opened property offers workspaces tailored to changing business needs, with 700 desks.

China has temporarily eased its visa regulations for Indian citizens applying for business (M), tourism (L), short-term family visits (Q2) to Chinese citizens, transit (G), and crew © visas. The Chinese Embassy in India has issued a statement outlining these changes. According to the announcement, eligible applicants seeking single or double-entry visas for business, tourism, short-term family visits, transit, and crew purposes will no longer need to provide biometric data (fingerprints) until December 31, 2023. These changes will remain in effect until the end of 2023. Some exemptions were already in place, including for individuals below 14 or above 70 years old, those who have recently undergone fingerprint collection by the Chinese Embassy, and those whose fingerprints are deemed «uncollectable.»

Adani Power shares gained 5% to the day's high of Rs 321.90 on the NSE in Monday's trade, maintaining a two-session winning streak, following an 8.1% stake sale to the US-based investment firm GQG, along with other investors in a $1.1 billion deal last week. The other nine stocks from the Adani Group stable were also up in the morning session, riding on the positive sentiments. In the Nifty pack, Adani Ports & Special Economic Zone was the top gainer, up 2.4% while Adani Enterprises was higher by 2%.

KL Rahul and Shreyas Iyer, both pivotal figures in the middle order. As a result, the committee is expected to opt for safer choices, factoring in the potential of testing back-up options in the five to six matches the Indian team is expected to engage in during the tournament held in Sri Lanka.

New Delhi: Mumbai-based pharmaceutical and life sciences company Hikal Limited has appointed two experts -- Berjis Minoo Desai and Ramachandra Kaundinya Vinnakota – as additional directors to its board, effective 1 October. The appointment is for a tenure of five years and is currently pending approval by the company’s shareholders.