City New Delhi Financial News

New Delhi: Finance Minister Nirmala Sitharaman will move a resolution in parliament on Monday to approve notifications seeking to increase import duty on liquified petroleum gas (LPG), propane and butane by amending the First Schedule of Customs Tariff Act. Mint explains the significance of the move. The government wants to increase import duties on certain products to reduce import bills, protect domestic industries, and generate employment.

New Delhi: Local fast-moving consumer goods brands, which struggled in the aftermath of covid, are scripting a resilient resurgence with robust localized marketing strategies, including offering products at competitive price points, to take on the more established companies. According to a recent study released by researcher Kantar, volume growth of local brands surpassed that of national brands significantly over the 12-month period ended 30 April. Local brands, defined as those operating within a single market, witnessed 12.7% volume growth, while national brands posted 8.2% rise during the period.

NEW DELHI : The central government may triple subsidy allocation for electric vehicle (EV) purchases in the third edition of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME) programme amid the rising popularity of EVs in India. Allocation for the FAME III scheme may jump to around ₹30,000 crore from ₹10,000 crore earmarked for the current FAME II scheme, two people close to the matter said, adding that consultations have just started and the final allocation has not been decided. Charging infrastructure would also gain significant focus, with allocation at least doubling from the second phase, one of the two people said.

NEW DELHI : Corporate earnings in the June quarter met and, in many cases, exceeded market expectations, showed an analysis of 456 companies that have declared results so far. The aggregate net profit and revenue of these companies grew 32% and 7.88% from a year earlier, with profit growing at the fastest pace in eight quarters. Earnings are panning out mostly on expected lines with excellent performance from banks and weak guidance from the information technology (IT) sector, said V.K.

New Delhi: Russia’s largest integrated petrochemicals company PJSC Sibur Holding’s plan to build a large petrochemical plant with state-run Indian Oil Corp. Ltd (IOC) at Paradip has hit a roadblock due to the sanctions amid ongoing Russia-Ukraine war, said two people aware of the development. The two partners were slated to sign an agreement for the facility but Sibur, also Russia’s largest liquefied petroleum gas producer, has kept its plan on hold following the sanctions on Moscow amid the Ukraine war.

Suniel Shetty has picked up a minority stake in Pro Panja League, a professional arm-wrestling tournament launched by celebrity couple Parvin Dabas and Preeti Jhangiani through their company Panja Sports. «I am on board with Pro Panja League as an equity partner at the group level,» Shetty told ET. «My shareholding will be in the single digits.» Pro Panja League was founded in 2020.

New Delhi: External affairs minister S. Jaishankar on Sunday called on businesses to “optimize globalization" as global supply chains become more distributed. “There is already a debate underway on the downside of globalization.

TCS revamps group structure with new CEO New Delhi Tata Consultancy Services (TCS), India’s top software services company, has revamped its organizational structure by creating business groups based on industry sectors and geographies under new chief executive officer and managing director, K. Krithivasan who took charge on 1 June. These business groups such as banking, financial and insurance (BFSI), healthcare, retail and energy, would be led by senior executives appointed with effect from 1 August.

New Delhi: With the government tapping tech for healthcare, the country’s top teaching hospital, the All India Institute of Medical Sciences (AIIMS) Delhi, is making itself “future ready in Amrit Kaal" — with artificial intelligence, drones and robotics. AIIMS director M. Srinivas has directed officials to develop strategies on research and application of AI, drones and robotics in healthcare.

Vande Bharat Express on launch. With a deluge of new routes this year, India now has 25 pairs of Vande Bharat services, 18 of which have been launched in 2023. On most routes, the Vande Bharat has become the go-to option for its amenities and shorter travel time.

assembly elections in Arunachal Pradesh next year, said party national secretary (organisation) Dr Sandeep Pathak in New Delhi on Sunday. Chairing a meeting of AAP's Arunachal Pradesh unit, Pathak suggested strengthening the party organisation and connecting with the masses.

New Delhi: Prime Minister Narendra Modi on Sunday spoke about the imminent the launch of a campaign to honour India’s martyred men and women. Addressing the nation on ‘Mann Ki Baat’, the prime minister said as part of the campaign, several programmes will be organised across the country in memory of martyrs. “In the memory of these luminaries, special inscriptions will also be installed in lakhs of village panchayats.

Micron Technology, Lam Research and Applied Materials deals with New Delhi extended to a new initiative and additional domains and can be expected to grow steadily, External Affairs Minister said at the SemiconIndia Conference on Sunday.Jaishankar said that during Prime Minister Narendra Modi's visit to the US, specific commitments were made with regard to Micron Technology, Lam Research and Applied Materials, and they have been the subject of deliberations as well. «During Prime Minister Modi's State visit to the United States in June 2023, semiconductors were also a focus of the talks with President Biden and his team. As you would be aware, the two leaders chaired a technology round-table with the brand names of the industry.

European Parliament adopted a unique law under which exporters of select products have to certify that their items sold in the European Union (EU) had not led to deforestation and forest degradation. Under the EU Deforestation Regulation, a slew of products, from coffee to wooden furniture, must not have come from fields that have been deforested after 2020.

New Delhi: The world is flush with funds and with right steps, private capital and investments from pension funds and sovereign wealth funds (SWFs) can be effectively deployed in meeting the green transition of developing nations, G20 Sherpa Amitabh Kant said at a conference in the capital. Speaking at the second day of the G20 conference on ‘a green and sustainable growth agenda for the global economy,’ Kant said that geopolitics should take a backseat at the global economic forum and sustainable development goals should receive primacy at the grouping of nations that accounts for over 80% of the world’s output.

NEW DELHI: Commerce and Industry Minister Piyush Goyal placed significant emphasis on the Indian footwear and leather industry, highlighting its role as a major foreign exchange earner. During the India International Footwear Fair 2023 (IIFF) held in New Delhi, he emphasised the industry’s labour-intensive nature, contributing to employment opportunities for approximately 4.5 million people, of which 40% are women.

New Delhi: Union minister Jitendra Singh on Saturday highlighted the significance of early detection in controlling type 2 diabetes mellitus and various lifestyle disorders, along with the potential to cure several cancers, including breast cancer. Speaking at a media event titled ‘Expanding Breast Cancer Care for Indian Women,’ the minister said, with early diagnosis, and easy access to breakthrough treatments available in the country, India can conquer breast cancer in its early stages itself.

New Delhi: NEW DELHI: The Ministry of Electronics and IT (MeitY) and the Ministry of Information and Communication Technology (MICT) of Papua New Guinea signed a memorandum of understanding (MoU) for sharing India Stack, successful digital solutions implemented at population scale in New Delhi on 28 July. Earlier, MeitY hosted the inaugural Global DPI Summit in Pune on June 12-13.

Chaudhari, the Indian Air Force Chief recently interacted with personnel of a forward fighter base and complimented them for their high state of operational preparedness. «During a recent visit to a forward fighter base, Indian Air Force chief Air Chief Marshal VR Chaudhari interacted with personnel of the base and complimented them for their high state of operational preparedness,» the Indian Air Force said in a tweet.

Congress high command has convened two meetings with the party leaders in Karnataka in New Delhi on August 2, apparently to quell the dissidence brewing for some time now, top party sources said. According to sources in the Congress, the first meeting will take place between the party high command and the top Congress leaders in Karnataka. «In that meeting, party president Mallikarjun Kharge, former Congress president Rahul Gandhi, Chief Minister Siddaramaiah, Deputy Chief Minister and state Congress president D K Shivakumar, Law and Parliamentary Affairs Minister H K Patil, general secretaries K C Venugopal and Randeep Singh Surjewala, who is also the Karnataka in-charge and some other top functionaries will take part,» a Congress office-bearer told PTI.

New Delhi: Around 19.58 lakh patients availed dialysis services and 217.75 lakh hemodialysis sessions have been conducted under Pradhan Mantri National Dialysis Programme (PMNDP), health minister Mansukh Mandaviya said in Lok Sabha. PMNDP is for people suffering from chronic kidney disease (CKD), and the programme ensures availability of dialysis services in all district hospitals across the country free of cost for eligible beneficiaries.