City New Delhi Financial News

24.07 / 03:27

Target Aware Celebrity electronic Income Tax Day 2023: Finance Minister Nirmala Sitharaman to lead the celebrations of the day on July 24

Nirmala Sitharaman will join the celebration at Plenary Hall, Vigyan Bhawan, New Delhi on Monday. The programme will begin at 6:00 pm today.

24.07 / 02:55

Facebook VISA love country Now, India's Anju crosses over to Pakistan to meet her Facebook lover

Seema Haider, a married woman from New Delhi — Anju — traveled to Khyber Pakhtunkhwa, Pakistan, to meet her lover, Nasrullah. According to reports by Pakistan-based Aaj News, Anju's journey to Pakistan was in pursuit of love, akin to Haider's illegal cross-over into India. However, unlike Haider's illegal entry, Anju was granted entry into Pakistan lawfully with a valid visa, as confirmed by Upper Dir SHO, Javed Khan.

23.07 / 20:21

COST Provident Strategy Mobile Enterprise LEH clean energy EESL enters into several partnerships at Clean Energy Ministerial meeting

New Delhi: Energy Efficiency Services Limited (EESL) has forged partnerships worth ₹700 crore during the recent 14th Clean Energy Ministerial (CEM) meeting in Goa, said statement from EESL. As part of the event, EESL unveiled its new Energy Efficiency Strategy crafted in close collaboration with USAID India, which reinforces its pivotal role in driving India’s net-zero aspirations. “Additionally, EESL solidified its commitment to decarbonization by signing a strategic MOU with the United States Agency for International Development (USAID), India to shape forward-looking strategies and programs," it said.

23.07 / 20:21

UPS Target FIVE GST rate rejig off the table for now

NEW DELHI : A proposed revision of goods and services tax (GST) rates, aimed at boosting revenue collections and fixing tax anomalies, is unlikely before the 2024 general elections, as the recent meeting of the GST Council did not reconstitute the key ministerial group responsible for examining the matter. During the meeting, the Council did not name a replacement for former Karnataka chief minister Basavaraj Bommai, who served as the convenor of the ministerial group established in September 2021 to restructure GST.

23.07 / 20:21

Citi Booking Gap film show star audience Barbenheimer brings back the cheer

NEW DELHI : A showdown between two high-profile Hollywood films, Oppenheimer and Barbie, has brought some much-needed cheer to the Indian box office after months of lacklustre sales. Moviegoers flocked to theatres, despite the absence of major Hindi or regional movie productions or popular stars. Film trade experts estimate Christopher Nolan’s Oppenheimer to achieve net box office collections of around ₹50 crore during its opening weekend, while Greta Gerwig's Barbie is projected to reach approximately ₹20-25 crore.

23.07 / 20:21

FIVE Aviat Airlines Strategy Boeing Cathay electronic Air India eyes 20% share in air cargo biz in 2-3 years

NEW DELHI : Air India plans to bolster its presence in the air cargo segment, with a target of securing a 20% market share over the next 2-3 years by utilizing the airline’s incoming fleet of wide-body aircraft that will double its capacity in the near- to medium-term, two people familiar with the development said. As part of its strategy, the airline plans to engage with companies in the telecom, electronics, and pharmaceutical industries that are key users of airlines to ferry products. The airline is also working on sector-specific packages and looking at long-term arrangements with large companies.

23.07 / 20:21

COST UPS Target Cooper Career Platform country Time ‘Sensitivities over tech transfer will persist for some time to come’

NEW DELHI : Former diplomat and current US-India Business Council (USIBC) chief, Atul Keshap, emphasized the importance of India-US defence cooperation and the need for joint efforts to develop a defence industrial base in India. Keshap, who was the top American diplomat in India in 2020, identified advanced technologies and cybersecurity as target areas for cooperation between the two nations. Additionally, emerging initiatives such as INDUS-X, which seek to boost collaboration among startups, will be a key focus, he said.

23.07 / 18:47

UPS BLOCK Action Immunic show stage country Indian 'Limited immunity waiver' to Indian diplomats in UK as London Police probes Khalistani attack on mission

immunity waiver' for its diplomats posted in the United Kingdom in connection with the investigation into the attack on Indian mission by pro-Khalistan supporters in March. The 'in principle' waiver will apply once the probe reaches the trial stage. The London Police, probing the case of attack on Indian consulate, approached the Indian government for the 'diplomatic immunity waiver' of witnesses and complainants posted at the Indian mission, added officials.

23.07 / 18:27

UPS AXY Manufacturing track dividend Vedanta’s dividend payouts to parent concern lenders

MUMBAI, NEW DELHI : Banks have turned cautious on their exposures to Vedanta Ltd, worried that sizeable dividend payouts to ease the parent’s debt burden might stress the balance sheet of the domestic entity to which they have loaned money, said two bankers close to the matter. Bankers said a clutch of lenders have been discussing their stand on Vedanta and are uncomfortable with high dividends to help its London-based parent Vedanta Resources deleverage. They said they are closely watching their exposures but added that the company has been repaying loans on time.

23.07 / 18:11

UPS show performer Swiss Indians snap up Swiss luxury watches in H1

₹933 crore) in the January to June period from 81.2 million francs a year earlier, showed data from the Federation of the Swiss Watch Industry. Imports surged 67% from 59.1 million francs in the six months of 2021. Notably, a significant portion of the 2023 imports of 20 million Swiss francs, was seen in June alone, indicating a robust demand for luxury timepieces.

23.07 / 18:11

UPS Aware ExxonMobil dividend OVL’s wait for dividend from Sakhalin-1 oil field lengthens

New Delhi: With state-run ONGC Videsh Ltd (OVL) yet to get equity rights for its shares in Russian energy project Sakhalin-1, the overseas arm of Oil and Natural Gas Corp. has not received any dividend payments, two people aware of the development said. The project is India’s most lucrative energy equity investment overseas and has been a significant source of returns for ONGC since its acquisition in 2001.

23.07 / 18:11

UPS performer country Machinery exports to Russia, CIS nations up 3 times in Jun

New Delhi: Indian engineering goods exports to Russia and Commonwealth of Independent States (CIS) countries surged in June, up nearly threefold in comparison to a year earlier, according to exporters. However, goods exports to other parts of the world witnessed a slowdown, they added. The 18-month long Russia-Ukraine war has driven prices of food and fuel higher, resulting in falling demand for goods and services in the West.

23.07 / 17:31

MET FIVE Waters Orange Heavy rainfall likely to return to North India from Tuesday: IMD

New Delhi: Heavy downpour that caused floods in Delhi, Punjab and Haryana and landslides in Himachal Pradesh and Uttarakhand disrupting livelihoods is predicted to make a comeback from Tuesday. “Increase in rainfall activity over northwest India from 25 July is expected," India Meteorological India (IMD) said on Sunday.

23.07 / 17:31

Reuters Booking Aviat Aware Airlines Assurant Go First cancels flights till 25 July

Go First also assured that they will be able to resume booking shortly. “As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly" the statement read.

23.07 / 17:31

UPS Provident Manufacturing Huawei electronic Delhi HC patents verdict may hit small-scale, mid-sized manufacturers

New Delhi: A verdict by a two-judge bench of the Delhi High Court last week is expected to have an adverse impact on India’s mid and small manufacturers who licence patents from large international firms. The court ruled that in the issues pertaining to rights of patentees, the Patents Act overrides the Competition Act and hence the anti-trust regulator cannot probe issues pertaining to rights of patentees. This verdict was delivered in the appeals moved by global companies Ericsson and Monsanto against a Competition Commission of India (CCI) probe.

23.07 / 16:59

UPS Target Manufacturing CEO Action Honda Hero How Hero plans to regain its mojo

NEW DELHI : On 1 June, at Himgiri Automobiles, a Hero MotoCorp Ltd dealership in Delhi’s Shahdara neighbourhood, a 35-year-old man walked in to take home the Xoom, a 110cc scooter. He simply liked the scooter’s styling and picked it over a bigger scooter, the NTorq, manufactured by TVS Motor Company. Nudging him to disclose more about this choice was an unusual visitor at the dealership—Niranjan Gupta.

23.07 / 16:11

COST UPS Extreme CEO Soaring cattle feed prices to drive milk prices higher

NEW DELHI : Retail milk prices that have shot up nearly 22% in three years, including about 10% in the last one year, are expected to increase further in the coming three-four months as feed and fodder prices are on the rise amid the monsoon deluge. The prices of de-oiled rice bran (DORB), a key ingredient in cattle, poultry, and fish feed, have increased sharply to ₹18,000-18,500 a tonne from ₹15,000 per tonne in the last few weeks. Maize, a major feed grain and a standard component of livestock diets, is being sold at ₹24,500 a tonne in Tamil Nadu’s Erode, a 20% increase in one month, people in the know in the spot trade said.

23.07 / 13:23

Citi FIVE Digital Manufacturing performer Industrial & Warehousing demand in India stable in H1 2023: Colliers

New Delhi: Industrial and warehousing demand across the top five cities was stable during H1 2023 with 11 mn sq ft of leasing, compared to the same period last year, professional services and investment management company Colliers said in a report. According to it, Delhi-NCR continued to lead demand with 25.0% share, closely followed by Mumbai at 24.6%.

23.07 / 13:07

Aviat Manufacturing Airlines Boeing Returns Dubai-bound Air India flight returns to Kerala two hours after departing. Here's why

Air India flight, IX 539, which took off with 174 people onboard -- including the crew -- from here at 1.19pm returned back and landed safely at 3.52pm, an airport official said. "The plane landed safely. All passengers and crew are fine.

23.07 / 11:51

COST UPS Platform show country Portal MCA21 portal receiving more forms this year than a year ago: ministry

New Delhi: More corporate filings are being made in the revamped version of the MCA21 portal this year than in the year before, the ministry of corporate affairs said in an official update. Since the beginning of April 2023, upto 16 July, over 168,600 forms for incorporating companies have been filed, which is higher than the previous year's count of 148,188 in the same period, the ministry said.

23.07 / 11:51

UPS Provident Action Second part of MDB report to review suggestions for reforms, speed of response

New Delhi: The second part of the NK Singh and Lawrence Summers report on strengthening multilateral development banks (MDBs) will review multiple suggestions for reforms, elaborate on operational reforms, speed of response and private capital mobilisation, including prospects for scaling up the Multilateral Investment Guarantee Agency (MIGA). The second part the report, titled 'Strengthening Multilateral Development Banks: The Triple Agenda', will be released in October for discussion by finance ministers ahead of the G20 Annual meeting at Marrakech (Morocco).

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