City New Delhi Financial News

Emerging Market debt, US asset manager Invesco said, confirming New Delhi's growing stature among large emerging economies competing for overseas fund flows into local fixed-income assets. The finding is part of Invesco's 11th annual edition on sovereign investors titled 'Invesco Global Sovereign Asset Management Study'.

climate finance. The third G20 sherpa meeting in Hampi, Karnataka over July 13-16 will discuss the contours of the draft declaration for the Leaders' Summit, said a person familiar with the development. Prime Minister Narendra Modi had detailed the key priorities for India's G20 presidency, and the effort would be to ensure deliverables in these areas, the person said.

Schools in New Delhi have closed after heavy monsoon rains battered the Indian capital, caused landslides and flash floods in the country’s north and killed at least 15 people over the last three days

Government of Meghalaya and NTPC Limited have signed a series of Memorandum of Understanding (MoUs) aimed at enhancing the power scenario in Meghalaya. The signing ceremony took place at New Delhi in the presence of Chief Minister Conrad K Sangma, Power Minister Abu Taher Mondal, Gurdeep Singh, Chairman and Managing Director of NTPC Limited and Sanjay Goyal, CMD, MeECL. These strategic MoUs mark a significant milestone in the collaborative efforts to uplift the power infrastructure and connectivity across Meghalaya.

By Mayank Bhardwaj and Sumit Khanna

GST) council at its 50th meeting scheduled for tomorrow, July 11, is likely to deliberate on a host of issues including taxation of online gaming, definition of utility vehicles and tightening of norms for registration and claiming input tax credit (ITC). The GST Council is chaired by finance minister Nirmala Sitharaman and comprises a panel of state representatives.

New Delhi: The Ministry of Finance on Monday in a statement said that the government has announced the sale (re-issue) of government securities. The ministry said that up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the scheme for non-competitive bidding facility in the auction of government securities. The securities will be eligible for “When Issued" trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No.

New Delhi: s the legal battle between low-cost carrier SpiceJet and its former promoter drags on, the Maran Group have stated that there is no question of an amicable settlement with the airline.  "....There is no question of an amicable settlement with SpiceJet Ltd in view of the matter having reached finality by virtue of the order dated July 7, 2023, of the Honorable Supreme Court of India," a statement from Marans Group firm KAL Airways said.  The Maran Group issued the clarification on reports of amicable settlement between the Marans and SpiceJet, following the Supreme Court order dated 7 July. The apex court directed budget airline SpiceJet to pay the entire arbitral amount of ₹380 crore to former promoter Kalanithi Maran in their legal dispute, a development which may impact the debt-laden carrier further.  A bench presided over by Chief Justice D Y Chandrachud and comprising Justice P S Narasimha dismissed SpiceJet’s plea seeking additional time to pay the ₹75 crore to Maran and KAL Airways, as directed by the apex court on 13 February.

NEW DELHI (Reuters) — Taiwan's Foxconn said on Monday it had withdrawn from a joint venture with conglomerate Vedanta (NYSE:VEDL), in a blow to Indian Prime Minister Narendra Modi's chipmaking plans.

New Delhi:  The Central Bureau of Investigation (CBI) today said it arrested the Chairman and Managing Director (CMD) of Tirupati Infraprojects Pvt. Ltd, Jag Mohan Garg, in a bank fraud case amounting to  ₹289.15 crore to a consortium of banks, the agency said in a statement.   The Investigation agency registered a case on 25 May 2022 against the said private company, its CMD, Directors, Guarantors and public & private persons on a complaint filed by the consortium of banks led by Bank of India, Union Bank of India, Canara Bank, Bank of Baroda & UCO Bank.  The agency in the statement added that the consortium of said banks led by Bank of India had granted Term Loan of ₹300 crore to the borrower company between year 2009 and 2014 for construction of a Hotel in Paschim Vihar, New Delhi, alongwith commercial spaces.

New Delhi: Diwan Arun Nanda has stepped down from the chairmanship of Rediffusion after 50 years of being at the helm. Nanda, who has stepped down due to his age and health, will be replaced by Sandeep Goyal. Goyal, who will also continue in his role as the managing director, has worked directly under Nanda for years.

New Delhi: Engineering behemoth Larsen & Toubro (L&T) has signed a teaming agreement with Spanish building company Navantia for the P75 (India) submarine programme to deliver six submarines. Valued at over 4.8 billion euros, the P75 (India) submarine programme is the country's largest defence acquisition.

New Delhi: As Go First draws up plans to resume flight operations, preparations are also underway to find a suitable new owner for the low-cost carrier. The airline's resolution professional Shailendra Ajmera on Monday invited expressions of interest for Go First, registered as Go Airlines (India) Limited.  The last date for the submission of expressions of interest is 9 August, a company advertisement stated.

New Delhi: Defence minister Rajnath Singh on Monday met Malaysia's prime minister Anwar Ibrahim and other top leadership to discuss a wide range of issues to bolster bilateral defence and strategic ties. Singh arrived in Kuala Lumpur on a three-day visit to Malaysia on 9 July. The defence minister and his Malaysian counterpart Mohamad Hasan discussed initiatives to further expand bilateral defence ties, with particular focus on identifying ways to strengthen industrial cooperation.

Defence Minister Rajnath Singh called on Prime Minister of Malaysia Anwar Ibrahim and held talks with his Malaysian counterpart Mohamad Hasan here on Monday and discussed ways to further deepen bilateral defence ties. Singh arrived in Kuala Lumpur on Sunday on a three-day visit aimed at further boosting bilateral defence and strategic ties. «Called on the Prime Minister of Malaysia, Mr @anwaribrahim in Kuala Lumpur.

USNS Salvor, a Safeguard-class rescue and salvage ship arrived at Kattupalli ship building yard near here for repairs under the Master Ship Repair Agreement (MSRA) between India and the US, a senior official of Larsen and Toubro (L&T) said on Monday. The five-year agreement will see the India's leading private defence company repair the US vessels, said Arun Ramachandran, executive vice-president and head, L&T.

New Delhi: Prime Minister Narendra Modi spoke with senior ministers and officials to take stock of the situation following heavy downpour in parts of the country, the prime minister’s office said in a statement. Local administrations, National Disaster Response Force (NDRF) and State Disaster Response Force (SDRF) teams are working to ensure the well-being of those affected, it added.

New Delhi: Domestic pharmaceutical industry will likely hit $57 billion by FY25, along with expansion in operating margins by 100-150 basis points (bps), according to a report by CareEdge Ratings. During FY18 to FY23, the Indian pharmaceutical industry has logged a a compound annual growth rate (CAGR) of 6-8%, primarily driven by an 8% increase in exports and a 6% rise in the domestic market. In FY23, the Indian pharma market saw a year-on-year growth of nearly 5%, reaching $49.78 billion.

Arvind Kejriwal called for a meeting on Monday to address the waterlogging situation in the city caused by heavy rains and the rising levels of the Yamuna River, according to officials. The meeting took place this afternoon at the Delhi Secretariat and was attended by Delhi Health Minister Saurabh Bharadwaj, Education Minister Atishi, and other officials from the Municipal Corporation of Delhi. Speaking at a press conference, Chief Minister Arvind Kejriwal assured that while a flood-like situation is unlikely in Delhi, the government is fully prepared to handle any unforeseen circumstances.

New Delhi: India’s daily covid-19 tally dropped to a record low, not seen since the onset of the pandemic in early 2020, as per data from the union health ministry on Monday. The country reported only 24 new infections in the past 24 hours, marking the smallest count since the first reported case in January 2020. A consistent downturn in cases has been observed over several months.

New Delhi: Private equity investment in the real estate sector witnessed a 5% decline year-on-year in the April to June quarter, reaching $1.9 billion, due to the impact of high interest rates, according to a report by real estate consultant Anarock. The report titled ‘FLUX Q1 FY24 Market Monitor for Capital Flows in Indian Real Estate’ said foreign investors accounted for a significant share of 94% in the PE investments, while domestic funds contributed 6%.