City New Delhi Financial News

New Delhi: Lt Governor V K Saxena has terminated the services of around 400 'specialists' appointed by the AAP government in different departments, officials said on Monday, a decision that could trigger a fresh round of confrontation between the ruling party and the LG. They were engaged in a "non-transparent manner" and without the mandatory approvals of the competent authority, the LG office said in a statement while alleging several irregularities in the recruitment process.

New Delhi: Prime Minister Narendra Modi will inaugurate the Sai Hira Global Convention Centre in Puttaparthi, Andhra Pradesh on 4 July at 10:30 AM via video conferencing, the prime minister’s office said in a statement.  The inauguration ceremony will witness the presence of prominent dignitaries and devotees from around the world.

NEW DELHI : The food regulator—Food Safety Standard Authority of India (FSSAI)—has directed all its food testing laboratories to upgrade and optimise their facilities and procedures to handle accurate organic food testing. This follows reports of false claims by some firms even as the government plans to promote organic food. Organic tea, pulses, oil and jaggery powder are the most popular, followed by milk products.

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: The Central government is committed to ensure Quality Assurance (QA) in military aviation and taking appropriate measures to remove obstacles in indigenization of Defence manufacturing industry, defence secretary Giridhar Aramane said on Monday. Delivering keynote address at Workshop on “QA Reforms in Military Aviation for Promoting Indigenous R&D and Manufacturing," held in New Delhi, he added that the country is progressing in line with PM’s vision of Aatmnirbharata in defence.  “It is a challenge but systems are being put in place and measures are being taken to achieve it," he said.

NEW DELHI : Manufacturing activity last month fell for the first time since February 2023 but, supported by rising demand for Indian-made factory products, still notched up the year’s second-fastest rate of expansion, a private survey on Monday said. S&P Global said on Monday that India’s purchasing managers’ index (PMI) for manufacturing fell to 57.8 in June, down from 58.7 in May. A figure of 50 separates expansion from contraction.

NEW DELHI : The leaders’ summit of the Shanghai Cooperation Organization (SCO) takes places on Tuesday under the chairmanship of India, with a likely push for inducting Iran and possibly Belarus as new members. Apart from Prime Minister Narendra Modi, the virtual summit is set to be attended by President Xi Jinping of China, Prime Minister Shehbaz Sharif of Pakistan, President Vladimir Putin of Russia and the leaders of a number of Central Asian countries. The previous summit took place in Samarkand, Uzbekistan, in September last year.

New Delhi: A successful trade relationship between India and the European Union holds the potential to significantly reshape the global economic order, but the two entities need to find common ground on various issues first, a report presented in the European Parliament said. These issues include investor protection, tariffs, alcohol markets and digital frameworks, said the report from the Jacques Delors Institute titled ‘India and the European Union in 2023: Building A Closer Economic Relationship’.

New Delhi: Torrent Group’s integrated power utility, Torrent Power Limited has embarked on a path-breaking initiative aimed at a greener future by commencing work on a pilot project for blending green hydrogen (GH2) with natural gas in its city gas distribution (CGD) network.  The project, slated for completion within eight months, represents a significant stride in Torrent Power’s foray into the GH2 business in India, underlining its commitment to fostering a cleaner and more sustainable energy mix. “The ambitious pilot project, utilizing an Alkaline Electrolyzer, aims to blend approximately 2.5% GH2 into the CGD network, positioning it as one of the most substantial private sector blending initiatives in the country," the company said in a press release.

New Delhi: Sula Vineyards Limited, a wine producer, has announced that its chief operating officer, Chaitanya Rathi has resigned. Rathi will be moving on to explore opportunities outside of the company.

technology firms are looking at relocating their manufacturing bases to India to bring down their exposure to the Chinese market, top policymakers in the Taiwan government have said, amid the self-governed island's increasingly tense relations with China. Deputy Minister for Taiwan's National Development Kao Shien-Quey said there is huge scope for collaboration between New Delhi and Taipei in areas of emerging and critical technologies including manufacturing of semiconductors and electronics equipment.

Assam plans to break its own Guinness World Records of single largest cogeneration of bihu performance in a single venue by holding larger event in national capital new Delhi. Assam chief minister Himanta Biswa sarma tweeted,«Coming soon ~ 25,000 Bihuwas and Bihuwatis to perform the World’s Largest Bihu in New Delhi.» Recently Assam had earned a place in the Guinness World Records for the largest number of handwritten notes submitted for a common purpose during an essay writing to mark the 400th birth anniversary of the legendary Ahom general Lachit Borphukan.

New Delhi: President Droupadi Murmu on Saturday said 'creative accounting', or the exploitation of loopholes in the financial rules and regulations, is soon going to be a 'thing of the past' due to fast-evolving technology in the auditing space. Addressing a gathering on the 75th Chartered Accountants' Day, the President said manual assessment of data is fast becoming outdated, as she called for the fast adoption of technology by auditors to easily detect wrongdoings by unscrupulous elements.

Guwahati: Assam chief minister Himanta Biswa Sarma on Saturday said that state is getting closer in becoming a major exporter of petrochemicals as the state has sent first consignment of methanol to Bangladesh. Sarma tweeted, “We are one step closer to establish Assam as a major exporter of petrochemicals. Today, we flagged off the first methanol consignment to Bangladesh from Assam Petrochemical Plant, which was inaugurated by Hon PM in April '23.” Sarma said that government is heavily investing in the petrochemical sector by increasing its stake in Numaligarh Refinery Limited, investing in new projects of Assam Petrochemicals Limited among others.

Himanta Biswa Sarma said that ever since Prime Minister Narendra Modi donned the Asomiya Gamocha(scarf)the use of it has become widespread throughout country. As a gesture of the State government in expressing its gratitude and acknowledging the participants in the Mega Bihu event which created Guinness World Record, Chief Minister Himanta Biswa Sarma honoured the Bihua and Bihuwatis with citation and cash incentives at a function held at Moncotta in Dibrugarh today.

Pakistan on Saturday handed over a list of 308 Indian prisoners, including 42 civil and 266 fishermen, lodged in its jails to the High Commission of India here as part of a bilateral agreement. The step was taken in consistence with the provisions of the 2008 Agreement on Consular Access between the two countries, the Foreign Office (FO) said in a statement. The FO said that «the Government of Pakistan today handed over a list of 308 Indian prisoners in Pakistan (42 civilian prisoners and 266 fishermen) to the High Commission of India in Islamabad.» It further said that the Government of India handed over the list of Pakistani prisoners in Indian jails to the Pakistan High Commission, New Delhi. According to the list, there are a total of 417 Pakistanis in Indian jails, 343 of whom are civilian prisoners and 74 fishermen. Islamabad urged New Delhi to release and repatriate all those Pakistani civilian prisoners and fishermen, who have completed their respective sentences and their national status stands confirmed.

New Delhi: The Supreme Court on Friday tagged a plea by the sister of gangster-politician Atiq Ahmed and Ashraf Ahmed, who were shot dead while being in police custody in Uttar Pradesh on April 15, seeking a comprehensive probe headed by a retired judge or by an independent agency into alleged «extrajudicial killings» carried out by the government with another petition seeking similar relief. A bench of justices AS Bopanna and Prashant Kumar Mishra tagged the petition with another similar petition.

New Delhi: The draft of the proposed uniform civil code for Uttarakhand is complete and will be submitted to the state government soon, expert committee chairperson justice (retd) Ranjana Desai said on Friday. Addressing a press conference in New Delhi, Desai said: «The report of the committee and the draft code would be printed and submitted to the government of Uttarakhand.» Desai said while there was some natural opposition to the idea, overall there was overwhelming support for UCC and assured that the panel's report will only strengthen the social fabric of the country and boost gender equality.

New Delhi: The Aam Aadmi Party-led Delhi government has moved the Supreme Court challenging the constitutionality of a recent ordinance that gave the lieutenant-governor overarching powers on bureaucracy. The ordinance was promulgated on May 19.

JPMorgan Chase & Co. has tied up with six Indian banks to introduce a blockchain-based platform to settle interbank dollar transactions in the nation’s newest international financial hub. “We will be running a pilot project for the next few months as we need to analyze banks’ experience,” Kaustubh Kulkarni, senior country officer, India and vice chairman, Asia Pacific at JPMorgan, said in an interview.

Global financial services company JPMorgan continues exploring the benefits of blockchain, deploying the technology to eliminate some restraints of traditional finance.