City New Delhi Financial News

New Delhi: The Centre anticipates objections from World Trade Organization (WTO) members over the recently imposed import restriction on IT hardware such as computers and electronic items but believes the move won’t lead to the opening of a formal dispute at the international trade body, a government official said. Trade experts believe India, which imports over $8 billion of the listed products, could be dragged to the WTO for the restriction. Fears of a pushback from countries also come against the backdrop of an ongoing WTO dispute over Indian import duty on information communications technology (ICT) products with half-a-dozen countries.

NEW DELHI : The number of countries where the Unified Payments Interface (UPI) “is live" is set to double in the next 12 to 18 months, said Ritesh Shukla, the chief executive officer of NPCI International, the firm running India’s flagship retail payment and settlement system. European countries will be a key focus for greater collaboration and commercial partnerships, including Lyra, a French firm that will be an interoperability partner for UPI in France. In addition, India and the UAE, home to a large number of Indians, are working to operationalize cross-border remittances and personal payments.

Narendra Modi laid the foundation stone for the revamp of 508 stations across the country, railways minister Ashwini Vaishnaw on Sunday that said in the name of station redevelopment project there will be no hike in fares. About ₹25,000 crore needed for the redevelopment project will be allocated through the current Budget, asserting that the project is aimed at facilitating seamless travel for passengers across all strata of society, Vaishnaw said. “PM Modi is working to elevate the lives of the common people.

Also read: Chandrayaan-3 LIVE Updates: Soft-landing of Chandrayaan-3 on lunar surface likely on 23 August As for the eligibility criteria, candidates should be aged between 18 to 35 years to apply for these posts. The selection process for ISRO Recruitment 2023 involves a Written Test and a Skill Test. The written test will be of 90 minutes duration and will consist of 80 multiple-choice questions.

Delhi Police has urged people from the Northeastern region, Gorkhas from Darjeeling and those belonging to Ladakh residing in the national capital for providing information about themselves in order to ensure better policing and their safety and security. In a communication, Joint Commissioner of Police, Special Police Unit for North East Region, New Delhi, PN Khrimey, said though many people belonging to the Northeast, Ladakh, Gorkhas of Darjeeling are residing in various locations of the national capital, no specific data are being maintained by any agency or organisation, according to an official release issued by the Assam government.

Sri Lanka has issued tenders choosing India over China for power projects near Jaffna, shortly after President Ranil Wickremesinghe's New Delhi trip. The Ceylon Electricity Board (CEB) recently called for tenders to execute the hybrid power projects in three northern islands of Sri Lanka using a grant of $12 million from India, according to Colombo-based sources. In January 2021, Sri Lanka had awarded the contract to Chinese firm Sinosar-Etechwin to install a hybrid renewable energy system in Nainativu, Delft or Neduntheevu and Analaitivu islands off the coast of Jaffna, which was later scrapped.

indirect tax policy making body, showed separate official orders on Saturday. A finance ministry order said that Sanjay Kumar Agarwal, a 1988 batch Indian Revenue Service (IRS) official as the Chairman of CBIC with the status of special secretary to the government of India.

Roseate Hotels & Resorts, owned by Bird Group, plans to add two hotels annually through management agreements while pursuing the development of luxury boutique properties in India and abroad, Kush Kapoor, CEO of the company, told ET. The company intends to include coworking centers at hotels in metro cities, while its properties in holiday destinations will be developed as resorts. «We are receiving organic queries from owners willing to offer their properties, and simultaneously, some owners with beautiful locations are interested in entrusting their properties to us. We are now exploring management options alongside our existing hotels,» Kapoor said. The company has recently acquired 2.6 acres of land near the upcoming Noida airport for the development of a 250-room project that will include a spacious convention center. «If everything goes well, and we get all our approvals in time, we should be able to start construction soon on the Noida hotel. We are also looking at expanding the Rishikesh resort as well,» Kapoor said.

NEW DELHI: Union minister Jitendra Singh on Saturday said, BRICS (Brazil, Russia, India, China and South Africa) should continue to hold global significance for being the most populated marketplace, driven by the knowledge, creativity and innovation economy. Addressing the 11th BRICS STI ministerial meeting at Goeberha in South Africa through a virtual medium on “STI Priorities and Policies Updates", the minister said, the grouping could collaborate to identify and explore regional scientific research challenges through joint S&T solutions suited to local economies.

New Delhi: Bureau of Indian Standards, the national standards body of India, on Saturday signed memorandum of understandings (MoUs) with 35 institutions across the country for fostering collaboration in standardization and conformity assessment. The institutions included some prominent NITs, government and private engineering colleges from different states across the country.

NEW DELHI: Union finance minister Nirmala Sitharaman laid the foundation stone for an archeological museum in Adichanallur in the Thoothukudi district on Saturday, the Ministry of Finance said. During her visit, the minister assessed the Adichanallur Parambu region, where removal work has been ongoing since around 2021. Adichanallur was one of the five archaeological sites declared to be developed as ‘Iconic Sites’ in the Union Budget 2020-21.

NEW DELHI: As the festive season ushers a flurry of shopping activities, a recent survey published by Meta, the parent company of platforms like Facebook and Instagram, sheds light on the significant role of video content in shaping purchase decisions. According to the survey conducted by YouGov on behalf of Meta, eight out of ten Diwali shoppers rely heavily on video content hosted on Meta's platforms while making their festive purchases. "Meta technologies is the most important channel for short-form videos (87%) and creator content (79%).

While India has not said the new requirement is aimed at China, more than half of its roughly $10 billion in annual imports of personal computers and tablets are Chinese-made. Relations between the countries have deteriorated since mid-2020, when Chinese and Indian troops clashed on LAC and 24 people were killed. Several Indian government officials, who asked not to be named, said the licensing measure aimed to address a trade imbalance with China. Here are some other Chinese trade and investment ventures affected by Indian measures since 2020:

premier forum for international economic cooperation. With more than 12,300 delegates from over 110 nations, the in-person participation in India's G20 Presidency is the largest ever hosted by any G20 country so far.

F1 visa is opening up at various consulates in India, giving hope to students who want to pursue their Masters in United States. Some of these students have faced rejections in the past and hope that they will be able to finally get their hands on the visa. «I have deferred my admission twice since last year as my visa got rejected a couple of times. In my desperation, I even went to Vietnam for a visa interview, but even there my visa was rejected,» said Rakesh P, who is now set to travel to New York on August 14 to TOI. He attended a visa interview in New Delhi recently and has been approved to study in the US, on his third attempt. Another candidate, Vijay M, said: «I have been appearing for interviews since June last year. I deferred my admission five times. Finally, my visa has been approved now and I will be travelling next week.» Vijay too appeared for his last interview from Chennai. US student visas grew by the largest annual margin seen in over a decade, in line to becoming the highest single-year total of F-1 visas since 2016.

NEW DELHI: The Union home minister and minister of cooperation Amit Shah is scheduled to inaugurate the digital portal of the Central Registrar of Cooperative Societies (CRCS) office in Pune on August 6. This move by the Ministry of Cooperation aligns with Prime Minister Narendra Modi’s vision of “Sahkar se Samridhi," which aims to bolster the cooperative movement in the nation.

Switzerland rejected 13.2 per cent of all visa applications filed by Indian nationals in 2022, Schengen Statics showed. The same data also showed that 106,025 applications filed by Indians received a positive response. Indians are listed as the 30th nationality in the list of those with rejection rates. Nationalities whose visa applications were rejected the most include Pakistani, Ghanaian, and Congolese nationals. The rejection rates of Pakistani nationals were the highest – 55.1 per cent, showing that more than half of applications for visas got rejected. Ghanaians and Congolese had a rejection rate of 46.5 and 41.5 per cent respectively, while the other nationalities in top 5 included Algerians and Argentinians with 39.9 and 35 per cent rejection rates, respectively. Recently, in an article SchengenVisaInfo.com said that the Swiss embassy in New Delhi has declared its temporary suspension of Schengen visa applications for Indian tour groups until October. Clarifying the same, Swiss embassy in Delhi issued a statement saying that it has not suspended Schengen visa appointments for Indian tour groups and has almost 800 daily appointments through the end of September 2023. The mission asserted that people-to-people contact is at the core of Swiss-Indian relationship.

Hair processing is a Rs 3,000-crore business in India which is not surprising at all. It’s not surprising then that hair processing is a Rs 3,000-crore business in India. Cities like New Delhi, Chennai, Elur in Andhra Pradesh, Bhagabanpur and Murshidabad in West Bengal, and Dig in Rajasthan are its major centres.Hair hub in Karnataka Apart from these cities, Bhagyanagar in Karnataka’s Koppal district is another place with a 70-year history of hair processing.

New Delhi: As the country has set ambitious net-zero and energy transition goals, sector experts have suggested that India will have to develop a vibrant low carbon manufacturing industry. In an interaction Vibha Dhawan, director, TERI said: “When we are talking of energy transition, it’s directly related to the sustainable development goals and what we are basically looking at that we have to develop a vibrant low carbon manufacturing industry." The statement gains significance as several industries exporting goods to the Europe are already preparing themselves to comply to the European Union’s Carbon Border Adjustment Mechanism (CBAM) which would come into force in October.

NEW DELHI : Food Corp. of India (FCI) has recommended the finance ministry remove import duty on wheat till February 2024 till fresh arrivals start to maintain the country’s food security and arrest rising food prices, a government official said. This recommendation comes over a year after the government banned wheat exports due to brutal heat waves that damaged wheat crops, sparking concerns about wheat availability in the country.

NEW DELHI : The government has extended the deadline for implementing import restrictions on laptops, tablets, and servers to 1 November, a late evening government notification said. According to the notification from the Directorate General of Foreign Trade, import consignments can be cleared without a licence until 31 October. “There will be a transition period for this to be put into effect, which will be notified soon," Rajeev Chandrasekhar, minister of state for electronics and information technology, said in a post on social media X on Friday before the notification was issued.