City New Delhi Financial News

28.07 / 11:25

Provident Waters Gap country cover services India, ADB sign $200 mn loan agreement for expanding urban services in Rajasthan

New Delhi: The central government and the Asian Development Bank (ADB) on Friday signed a $200 million loan as additional financing for the ongoing Rajasthan Secondary Towns Development Sector Project to expand water supply and sanitation systems and enhance urban resilience and heritage living in selected towns, the ministry of finance said. The signatories to the loan agreement were Vumlunmang Vualnam, additional secretary, department of economic affairs, ministry of finance, for the Indian government, and Takeo Konishi, country director of ADB’s India Resident Mission, for ADB.

28.07 / 11:25

social Antenatal care given to 319 women in conflict-hit Manipur, govt tells Lok Sabha

New Delhi: Despite ongoing clashes between ethnic groups in Manipur, 319 pregnant women, including 19 in the high-risk category, have received crucial antenatal care (ANC), Union health minister Mansukh Mandaviya nformed Lok Sabha on Friday. According to Mandaviya, since the conflict started two and a half months ago, regular check-ups have been conducted in designated camps, and 139 women have safely delivered babies.

28.07 / 11:25

Cooper India urges EU to allow shrimp imports, reduce inspection sampling frequency

New Delhi: India has pressed the European Union (EU) to allow newly-listed fishery companies to export farmed shrimps to the bloc, and to reduce sampling frequency at border inspection post, currently set at 50%, the ministry of fisheries, animal husbandry & dairying said. India has underlined the need to reduce the current sampling frequency and revert to 10% as was earlier the norm.

28.07 / 11:22

MET FIVE Waters Southern week Southern states record 9% above LPA rains after a deficit last week

New Delhi: Heavy showers in the southern states over the past few days have helped the region record 9% above relevant long-period average (LPA) rainfall, reversing an 8% deficit seen a week ago. According to the India Meteorological Department, Telangana received 212% above rainfall in the week ended Wednesday, while Andhra Pradesh and Yanam saw 144% above normal rain. North and south Karnataka recorded surplus rainfall of 247% and 165% respectively.

28.07 / 11:20

Digital Platform Airlines Strategy Boeing performer cover week Air India to launch performance management system for non-flying staff next week

New Delhi: Tata Group-backed Air India will launch a new performance management system called Rise.AI for its non-flying staff next week. “Rise.AI will introduce a fair, transparent, and completely digitized appraisal system, with clearly defined job descriptions and specific performance goals so that our staff know what is expected of them and what they must deliver on," the airline’s chief executive officer Campbell Wilson told employees in an internal email. The platform will link back to the Vihaan.AI organizational goals, Wilson said.

28.07 / 11:18

Target FIVE Waters Action CAT Celebrity country biodiversity India committed towards biodiversity conservation, climate action: Modi at G20 meet

New Delhi: Prime Minister Narendra Modi on Friday reaffirmed India’s unwavering commitment to biodiversity conservation, climate action, and environmental protection while addressing the G20 environment and climate ministers‘ meeting in Chennai via video message. Emphasizing the global responsibility to protect the Earth, the prime minister said climate action was a fundamental duty that had been ignored for too long.

28.07 / 10:45

UPS Provident Explainer reform Mint Explainer: Two new bills seek to reform nursing and dentistry

New Delhi: The Lok Sabha on Friday passed the National Nursing and Midwifery Commission Bill, 2023 and the National Dental Commission Bill, 2023, which seek to regulate nursing and dental education and practice. These bills will replace the Indian Nursing Council Act, 1947 and the Dentists Act, 1948. The legislative changes are significant as they seek to bring greater transparency and quality to the fields of nursing, midwifery and dentistry.

28.07 / 10:42

Cooper country Cooperation committee India, Malaysia hold 10th meeting of sub committee on military cooperation

New Delhi: The 10th meeting of the sub-committee on military cooperation between India and Malaysia was held here on 27 July, the ministry of defence said in a statement. The Indian delegation was led by Amitabh Prasad, joint secretary (International Cooperation), Ministry of Defence, while the Malaysian side was headed by Maj Gen Dato‘ Khairul Anuar bin Abd Aziz, assistant chief of staff, Defence Operations and Training Division.

28.07 / 09:01

Man Aviat Fighting Airlines Mumbai 47-year-old professor arrested for sexually assaulting 24-year-old lady doctor on Delhi-Mumbai flight

As per the report, the incident took place on Wednesday. The accused professor was seated next to the 24-year-old victim on the flight, which took off at 5.30 am from Delhi. According to the lady doctor's allegation, the accused made unwanted physical contact with her before the plane was set to touch down at the Mumbai airport, a police official told PTI.

28.07 / 06:41

UPS FIVE Manufacturing show country Multibagger smallcap hit 5% upper circuit on stock split and setting up new subsidiary

Smallcap firm Servotech Power Systems hit a 5% upper circuit at Rs 90.9 in Friday's trade on NSE on stock split and setting up a wholly-owned subsidiary — Techbec Green Energy. According to information available on NSE, the board earlier announced the sub-division (split) of equity shares in the ratio of 1:1. That means each share of the company with a face value of Rs 2 is split into two shares with a face value of Re 1 each.

28.07 / 05:07

Target MET Cooper Manufacturing country electronic India and Japan look to collaborate in building semiconductors and resilient supply chains

India and Japan explored collaborating in critical technologies, including semiconductors and resilient supply chains, as part of plans to reach a target of $35.9 billion Japanese investment in the country by 2027, officials said on Friday. Foreign Ministers of India and Japan, S. Jaishankar and Yoshimasa Hayashi, met in New Delhi on Thursday and also discussed ways to deepen defense equipment and technology cooperation.

28.07 / 01:49

Citi Metro Traffic Muharram 2023: Delhi Traffic Police issues advisory ahead of procession; List of routes to avoid

Also read: Islamic New Year: From date, history to significance of Muharram 2023 On Saturday, 29 July, around 11 a.m., the processions will reform and follow the same route, assembling at Kalan Mahal and then proceeding to Karbala via Pahari Bhojla, Chitli Qabar, Matia Mahal Chowk, Jama Masjid, Chawri Bazar, Chowk Hauz Qazi, Ajmeri Gate, New Delhi Railway Station, Connaught Place, and other key areas. Delhi Traffic Police has devised a diversion plan for Delhi Transport Corporation and other city buses to manage traffic during the processions.

28.07 / 00:43

UPS Manufacturing Strategy Toyota Innova Toyota plans to go solo to set up auto ancillary manufacturing unit

Toyota, Japan’s most-valued company that has had a relatively circumspect local presence in comparison with compact-car leader Suzuki, is considering setting up an ancillary business in India, tapping into New Delhi’s emergence as a manufacturing hub as the world seeks to reduce a hitherto disproportionate China-centric supply reliance. «Toyota wants to bring their supply chain to India,» a person aware of the talks told ET. «That conversation is slowly opening up.

28.07 / 00:43

Manufacturing Mobile Software Intel country electronic Intel sees an opening in India’s fast rise as manufacturing hub: India sales head Santhosh Viswanathan

chipmaker Intel Corp., potentially enabling the country’s consumer electronics and technology manufacturing industry to replicate the success of its credentialed software sector — and create a ‘huge’ number of factory jobs in the process. The California, US-based company is looking at India as a top manufacturing base for supplying to three buckets of hardware products–laptops, data centres and servers — and electronics connected to internet of things (IoT) such as vending machines and cameras, said Santhosh Viswanathan, MD and vice president, sales, marketing and communication group, at the company’s India arm. “Electronics manufacturing creates thousands of jobs.

27.07 / 19:19

UPS Citi Provident Pool social Indian Nuclear families reach 50% milestone in Indian households

NEW DELHI : Nuclear families comprised half of Indian households in 2022, up from 34% in 2008, signifying a major shift in the way families reside in small and large cities. This change in family structure has a bearing on future consumption as nuclear families tend to outspend joint families and experiment with more premium products, market researcher and insights provider Kantar said in a report. Nuclear families are better educated with 80% having some level of education.

27.07 / 19:19

COST UPS Strategy country Next up: legal, bureaucracy and currency reforms’

NEW DELHI : Reforming India’s administrative machinery and the legal system, along with making the rupee a hard currency, widely accepted for global transactions, are top on the government’s next reform agenda, said Sanjeev Sanyal, a member of Prime Minister Narendra Modi’s Economic Advisory Council. In an interview, Sanyal said that maintaining macroeconomic stability and taking care of the bottom of the pyramid are the two key pillars of the government’s economic management strategy. Edited excerpts: Our GDP (gross domestic product) rowth will be somewhere in the 6.5-7% range.

27.07 / 18:53

UPS Provident Target Progressive voice Deal India, Iran set to ink long-term deal on Chabahar port

NEW DELHI : India and Iran are expected to sign a long-term deal for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduled in New Delhi in October, two people familiar with the matter said. After years of negotiations, Delhi and Tehran are expected to sign a multi-year deal, allowing India to develop the Shahid Beheshti Terminal in the Chabahar port. In 2016, India Ports Global Ltd (IPGL) and Arya Banader of Iran had signed a contract to develop the port.

27.07 / 18:41

Manufacturing Strategy Mobile Remark Samsung country electronic Korean trade body upset as PLIs stuck

NEW DELHI : India has unfairly withheld from South Korean companies the incentives they were promised under the government’s production-linked incentive (PLI) schemes, the New Delhi chief of a top Korean trade body said. Arbitrary policy changes are a key concern for Korean companies investing in India, Lee Young-Ho, chief trade representative at the New Delhi office of the Korea International Trade Association (KITA), said in an interview. This is the first time that a Korean trade body has remarked on the challenges related to the PLI scheme.

27.07 / 17:55

UPS Provident AIM Rules on new fund for debt mkt aim to lift liquidity, confidence

New Delhi: Markets regulator Securities and Exchange Board of India(Sebi) on Thursday issued a framework for the Corporate Debt Market Development Fund (CDMDF). This comes after Sebi notified the rules for setting up such a fund in the form of an Alternative Investment Fund (AIF) which will support markets by buying debt securities during times of financial stress. In the 12-page circular, Sebi said this fund will help in instilling confidence among the participants in the corporate bond market and generally enhance secondary market liquidity by creating a permanent institutional framework for activation in times of market stress.

27.07 / 17:55

COST Platform track country FPIs resist mandatory 10% debt trade on RFQ

New Delhi: India’s foreign portfolio investors (FPIs) have opposed a recent proposal by the market regulator that requires offshore funds to place at least 10% of their secondary market bond trades through the Request For Quote (RFQ) platform. In a consultation paper floated on 5 July, the Securities and Exchange Board of India (Sebi) said the move would ensure enhanced transparency in the bond market and improve liquidity. RFQ is a centralized trading platform launched by the stock exchanges.

27.07 / 17:55

Platform film track audience classical song Relaunch of old hits big draw on streams

New Delhi: Despite the recent controversy surrounding the reboot of Pasoori in Kartik Aaryan’s Satyaprem Ki Katha, the music industry has been seeing a surge in popularity for revamped versions of old hit songs on audio streaming platforms and music labels. Recent remixes, such as Tip Tip Barsa Paani, Bhool Bhulaiyaa and Manike have climbed to the top of the charts, justifying the investment in acquiring the rights for these tracks. The success of these revived classics is attributed to a sense of nostalgia that strikes a chord with the audience, particularly the young demographic, said industry executives.

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