City New Delhi Financial News
11.08 / 11:55
COST
UPS
Cooper
Waters
PM to lay foundation stone for Sant Ravidas temple, address rally in MP's Sagar on Saturday
Sant Ravidas in poll-bound Madhya Pradesh's Sagar district, where he will also address a public meeting, a state BJP minister said on Friday. This will be PM's second visit to the Bharatiya Janata Party-ruled state, where assembly polls are due by the year-end, in just over a month. On July 1, Modi interacted with tribal leaders, women who were members of self-help groups and young football players at Pakaria village in Shahdol district.
11.08 / 05:53
UPS
FIVE
CEO
Strategy
Pride
Bobby Pawar steps down from chairman and CCO post at Havas India
New Delhi: Bobby Pawar, chairman and chief creative officer of advertising agency Havas India, has stepped down from his role and will move away from the advertising industry. Pawar has had nearly a five-year stint with the company and has been in the industry for three decades. He will complete his tenure in September 2023.
11.08 / 02:51
COST
UPS
Target
DAL
RBI is caught between tomatoes and cookies
India are sending confusing signals — cookies are becoming more affordable, but meals are turning more expensive. While the former may be a more permanent indicator of commodity inflation, could the central bank really afford to ignore the latter as transient? The cost of a home-cooked vegetarian lunch or dinner in the world’s most-populous nation jumped by 28% in just one month, largely because of tomatoes. In New Delhi’s Azadpur, one of Asia’s biggest perishables markets, prices have shot up 17-fold since the end of May.
11.08 / 01:39
Aviat
Progressive
Airlines
Boeing
Air India new logo: Netizens call it ‘underwhelming’
Air India on Thursday revamped its logo and the aircraft in a flamboyant ceremony in New Delhi. The Tata Group's airline has now ditched its red arched window accents for a sleeker livery that will see its tail fin painted in hues of gold, red and purple, along with a red and gold underbelly emblazoned with its name in bold. Air India said that its fresh identity will debut on its brand new Airbus SE A350 jets coming later this year.
11.08 / 01:29
Provident
Cooper
Assurant
Strategy
stage
country
boost
Sri Lanka pushes trilateral partnership with India & Japan to boost growth
India and Japan being active and vital middle powers in the Indo-Pacific region, their partnership for project-specific support in Sri Lanka holds significance and with their proven experience, knowledge, and expertise in tackling specific development challenges, both countries could support Sri Lanka financially and technically, suggested report brought out by prominent Colombo-based think tank Pathfinder Foundation. The report — “Medium and Long-term Strategy for Indo-Japanese Collaboration to Support the Economic Transformation of Sri Lanka” — was released here on Thursday in partnership with two prominent think tanks based in New Delhi, namely, NATSTRAT and Vivekananda International Foundation, and the Confederation of Indian Industry.
10.08 / 19:55
UPS
Target
country
Centre
Centre amends requirements for HVDC transmission system bids
New Delhi: The union ministry of power has made changes to the technical requirements for bidding of high voltage direct current (HVDC) transmission systems through tariff based competitive bidding (TBCB) route. Through the amendment, government has raise the requisite period of experience in the infrastructure to 10 years from 5 years. The minimum individual project experience would be ₹100 crore.
10.08 / 18:13
UPS
FIVE
Aware
Platform
Enterprise
Highways
Actis to buy Patel Infra’s 5 roads for around $91 mn
NEW DELHI : Private equity (PE) firm Actis Llp has agreed to acquire five hybrid annuity model (HAM) road projects from Patel Infrastructure Ltd at an equity value of around $91 million, two people aware of the development said. Actis may place these road assets under an infrastructure investment trust (InvIT) that will also house the six operating highway toll road projects that it bought from Welspun Enterprises Ltd last year. The Welspun deal, struck at an enterprise value of $775 million, marked the first road investment in India by Actis Long Life Infrastructure Fund.
10.08 / 18:09
Progressive
Airlines
Entertainment
Strategy
Maharaja steps back as Air India takes flight with The Vista logo
NEW DELHI : Air India, now owned by the Tata group, unveiled a logo and aircraft livery to create a new brand image, moving away from the iconic Maharaja theme associated with its past as a state carrier. The airline’s new logo, The Vista, draws inspiration from the iconic Indian window design used by the erstwhile Air India. The airline said the new logo signifies limitless possibilities, progressiveness, and a bold outlook for the future.
10.08 / 18:09
COST
Disney
Platform
Exodus
country
star
rights
end
Disney+ Hotstar sees user exodus as IPL rights end
NEW DELHI : The loss of Indian Premier League (IPL) streaming rights blew a hole in the subscriber base of Disney+ Hotstar in the June quarter, with 12.5 million users choosing not to renew their subscriptions. Walt Disney Co. said the subscriber base at its video streaming platform shrank 24% from 52.9 million to 40.4 million, the sharpest fall in any quarter yet.
10.08 / 17:19
Provident
exclusive
Power
500
NEEPCO abandons 500 MW thermal power project in Meghalaya
North Eastern Electric Power Corporation Limited (NEEPCO) has conveyed its decision to withdraw from the implementation of a proposed 500 megawatt thermal power project in Meghalaya. According to Power Minister AT Mondal, NEEPCO communicated its intention to terminate the thermal power project, highlighting a shift in focus towards exclusively green and clean energy endeavours.
10.08 / 15:37
COST
Manufacturing
Enterprise
awards
dividend
Container Corp Q1 results: Net profit dips over 17% at ₹246 crore, board approves dividend of ₹2 per share
Container Corporation of India on Thursday reported over 17% decline in net profit at ₹246 crore for the first quarter ended June 30 of fiscal year 2024. The company had posted ₹297 crore in the same period a year ago. Revenue from operations dropped 3.6% at ₹ 1,922 crore, Container Corporation said in an exchange filing.
10.08 / 14:05
UPS
Citi
Waters
India aims to triple natural gas share to 15% by 2030: Minister
New Delhi: India has embarked on an ambitious trajectory to amplify its existing 6% share of natural gas in the energy amalgam to a formidable 15% by 2030, as the government presses forward with a suite of comprehensive measures, said minister of state in the ministry of petroleum & natural gas, Rameswar Teli. In a written reply in the Lok Sabha, the minister said, "various steps have been taken by the government to raise the share of natural gas in energy mix to 15% in 2030 from about 6% currently." "These include expansion of National Gas Grid Pipeline, expansion of City Gas Distribution (CGD) network, setting up of Liquefied Natural Gas (LNG) Terminals, allocation of domestic gas to Compressed Natural Gas (Transport) / Piped Natural Gas (Domestic) CNG(T)/PNG(D) in no cut category, allowing marketing and pricing freedom to gas produced from high pressure/high temperature areas, deep water & ultra-deep water and from coal seams, Sustainable Alternative Towards Affordable Transportation (SATAT) initiatives to promote Bio-CNG, etc," he added.
10.08 / 12:33
Remark
Paradip Port handles 50 MMT cargo so far in current fiscal
New Delhi: Paradip Port has achieved a major milestone by clocking record cargo throughput of 50.16 MMT Cargo as on 8 August, rising 6.5% year-on-year. The port took 129 days to achieve this feat in the current fiscal compared to 140 days on the previous year.
10.08 / 11:57
Manufacturing
Parke
country
India to become global hub of medical technology devices by 2050: Mandaviya
New Delhi: India is poised to become a global center for medical technology and devices, said health minister Mansukh Mandaviya on Thursday while addressing the curtain raiser to India MedTech Expo 2023. The market projection suggests a rise to a staggering $50 billion by 2050. To be held during 17-19 August in Gandhinagar, Gujarat, the expo coincides with the G20 health ministers' summit.
10.08 / 11:57
Target
Aware
Strategy
India committed to eliminate Lymphatic Filariasis by 2027: Mandaviya
New Delhi: India is committed to eradicate Lymphatic Filariasis by 2027, surpassing the global target by three years, Union Health & Family Welfare Minister Mansukh Mandaviya said on Thursday while inaugurating the second phase of the Annual Nationwide Mass Drug Administration (MDA) initiative. With the second phase, which commenced today, targeting 81 districts across nine endemic states, including Assam and Uttar Pradesh, the minister emphasized a holistic strategy.
10.08 / 11:57
UPS
Provident
country
International
How successful are India’s efforts to conduct international trade in rupee?
international trade, the Reserve Bank of India (RBI) last year in July allowed invoicing and payments for international trade in domestic currency. The move was largely seen as part of the effort to bring down India’s massive oil import bill by purchasing Russian oil in domestic currency.
10.08 / 10:57
Provident
Target
Waters
Immunic
Celebrity
audience
guidelines
Centre
Centre issues fresh guidelines for health & wellness celebrities, influencers
New Delhi: The consumer affairs department has rolled out a fresh set of guidelines for celebrities, influencers, and virtual influencers who endorse health and wellness products to deal with misleading advertisements, unsubstantiated claims and ensure transparency. These new guidelines serve as an expansion to the existing “Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022" released on June 9, 2022, and the “Endorsement Know-hows!" guide booklet launched on January 20, 2023, the ministry of consumer affairs, food & public distribution said.
10.08 / 08:15
Progressive
Assurant
Celebrity
stage
peace
Centre
Peace talks between Centre, Assam and ULFA pro talk faction after August 15
peace talks between the Centre, Assam government and the ULFA pro-talk faction will be held at the national capital after Independence Day, the outfit's leader Anup Chetia has said. Chetia, who was speaking to reporters on Wednesday, also hoped that the peace talks will be concluded before 2024. «We hope to arrive at a solution with the Government of India before the (general) election… It realises that if it signs the agreement with us (ULFA pro-talk faction) the Assam imbroglio will be solved,» he said.
10.08 / 08:11
Progressive
Assurant
Celebrity
stage
peace
Centre
place
independence day
After Independence Day, peace talks between Centre, Assam, and ULFA to take place in Delhi
ULFA pro-talk faction will take place in Delhi, said the outfit's leader Anup Chetia on Wednesday while hoping for its conclusion before 2024, according to a report published by the news agency PTI. Speaking to media persons, Chetia said, “We hope to arrive at a solution with the Government of India before the (general) election ... It realizes that if it signs the agreement with us (ULFA pro-talk faction) the Assam imbroglio will be solved." “After Independence Day celebrations our discussions will be held in New Delhi with the representatives of the Government of India and Government of Assam," the outfit's leader said.
10.08 / 07:25
Aviat
Manufacturing
Airlines
performer
IndiGo to send 13 engines to Pratt & Whitney for inspection
New Delhi: India's largest airline IndiGo will send 13 engines to US-based engine manufacturer Pratt & Whitney for inspection as part of the latest issue regarding material anomalies. Two engines from the operational fleet and 11 engines from the grounded fleet of the airline will be sent to the manufacturer for inspection. "This implies that there would be little or no impact on the capacity of Indian carriers during the ensuing high season," a senior official said.
10.08 / 06:17
Provident
Digital
Citizens
Landmark
Platform
country
social
India passes data protection legislation in Parliament. Critics fear privacy violation
Indian lawmakers have approved a data protection legislation that “seeks to better regulate big tech firms and penalize companies for data breaches” as several groups expressed concern over citizens’ privacy rights
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