City New Delhi Financial News

Government of India had tried to use its proxy agency in Canada in 2021, according to an unclassified summary written by the CSIS. Similarly, the Government of Pakistan had also attempted to “clandestinely influence" the Canadian politics in 2019, Canada's foreign intelligence agency wrote as quoted by cbc.ca. The documents submitted as part of the federal commission inquiry into foreign influence contain stark assessments — potential interference in Canada's elections by India, China, Russia, and other countries.

NEW DELHI : India can sustain 7% growth annually in the coming years propelled by investments flowing into the country, high domestic savings, and by addressing supply-side challenges, Louis Kuijs, chief economist, Asia Pacific, at S&P Global Ratings, told Mint. If the government continues to work on resolving challenges related to infrastructure, institutional factors, labour laws, land acquisition rules, and education, the country can aspire to grow even faster, Kuijs said.

NEW DELHI : Nestle India’s board has approved a staggered increase in royalty payout to the company’s Swiss parent Société des Produits Nestlé S.A. The consumer goods company will hike its payout to Nestlé S.A.

NEW DELHI : ZEE Entertainment Enterprises Ltd will lay off an estimated 15% of its staff as managing director and chief Punit Goenka moves to implement a leaner and more streamlined management structure, aimed at reducing costs and achieving the company's targeted objectives. The move will impact an estimated 500 people. The company said on Friday that a proposed new structure, presented to the Board, seeks to establish a cost-efficient operational model.

Maldives, the government said on Friday, even as ties between Male and New Delhi remained tense amid rising Chinese influence. India, a leading exporter of rice, sugar and onions, has imposed various curbs on exports of these food commodities to keep a lid on local prices ahead of general election. Shipments of these commodities in the 2024/25 finiancial year which started on April 1 to Maldives «will be exempted from any existing or future restriction/prohibition on export,» the government said in a notification.

One ship is likely to be handed to the Indians in September, with another being delivered early next year. The delivery of the ships are two years behind schedule due to the war in Ukraine, the officials said, asking not to be named because of the sensitivity around the issue. The two frigates are part of a four-ship deal that the Indians signed with the Russians back in 2018. The other two ships are being built in India, in collaboration with Russia, but are also behind schedule due to war-related supply chain issues, the officials said.

NEW DELHI : Punit Misra, president of content and international markets at Zee Entertainment Enterprises Ltd (ZEEL), has quit the company. During his tenure, Misra was instrumental in managing content for Zee's linear television networks and its digital platform, ZEE5, catering to both domestic and international audiences. He also spearheaded the company's global business initiatives.

NEW DELHI : The Supreme Court has consolidated multiple pleas challenging the 28% GST on online gaming companies, ordering the transfer of 27 writ petitions to be heard together. During a hearing led by a three-judge bench headed by Chief Justice D.Y. Chandrachud on Friday, the Supreme Court ordered the transfer of 27 writ petitions pending in 11 high courts across the country.

Congress is struggling to finalise candidates for the three Delhi Lok Sabha seats it is contesting in alliance with AAP. The bone of contention seems to be Chandni Chowk. Former Congress CM Sheila Dikshit's son has staked claim to it, from where former Delhi unit chief JP Aggarwal has fought. The high command is confused with the request since Sandeep has represented North East Delhi and his mother has fought from there. The AAP and Congress are part of the opposition INDIA alliance. The AAP will contest four Lok Sabha seats from the national capital, while the Congress will field candidates from three. The AAP will contest four seats — New Delhi, South Delhi, West Delhi and East Delhi — while the Congress candidates will fight the polls from Chandni Chowk, North East Delhi, and North West constituencies.

Lok Sabha Elections 2024 on April 5. The manifesto will be released by the party president Mallikarjun Kharge and former president Rahul Gandhi at AICC Headquarters in New Delhi.

New Delhi, 2nd April, 2024 – Skill Online Games Institute (SOGI) announces the onboarding of distinguished Dr. Yatan Pal Singh Balhara to its esteemed advisory board. Dr.

Indian Oil Corporation Ltd is in preliminary talks with atomic power monopoly to build small nuclear units, an early-stage technology seen as a cost-effective alternative to larger plants. The refiner and fuel retailer is exploring a partnership with state-controlled Nuclear Power Corporation of India Ltd to use small modular reactors, or SMRs, in its refineries for clean power, Alok Sharma, Indian Oil's director for R&D, said at a conference in New Delhi Wednesday. As several bigger projects face delays, policymakers are promoting small-scale nuclear technology with a capacity of up to 300 MW, which is quicker to build and easier to adjust to the requirements of the grid. To boost the nascent sector, the government is considering allowing private firms to manage and operate reactors.

earthquake off Taiwan's east coast on Wednesday is unfortunate. It is also an unfortunate reminder of the risk of concentrating an overwhelming proportion of the world's most advanced chip-making capacity in one territory. Taiwan's semiconductor fabrication units are located at some distance from the epicentre of the earthquake and evacuated staff in response to disaster protocols. Initial reports suggest there is unlikely to be an immediate impact on supply chains feeding all manner of things from cars and cellphones to laptops and satellites. However, chip-making is particularly susceptible to vibration, and Taiwan lies in a zone of heightened seismic activity that also poses a risk to its principal source of power: nuclear energy. Chipmakers have accelerated plans to diversify beyond Taiwan after the Covid outbreak snarled up supply lines. There is also simmering tension with China that reinforces the need for resilient supply of a critical component in global manufacturing.

NEW DELHI : New Delhi: India’s personal computers (PC) market of desktops and laptops, which experienced a lull last year due to a post-pandemic sales decline, could double in the next five years if the country's economic targets are met, said Ipsita Dasgupta, senior vice-president and managing director of HP India. Speaking about a dip in demand for PCs and the way forward for the upcoming year, Dasgupta said, “The consumer market has been a bit up-and-down. But nobody discards their PCs, so the comeback on demand doesn't concern me.

Vice Admiral Mark Hammond, Chief of the Royal Australian Navy, is on an official visit to India from April 2 to 6 to bolster bilateral maritime relations between the two nations. His visit includes key cities and prominent maritime regions across India. In New Delhi, Vice Admiral Hammond met with Admiral R Hari Kumar, Chief of the Naval Staff, to discuss increasing operational engagements, training exchanges, and information sharing. He paid tribute at the National War Memorial and received a Guard of Honour from the Indian Navy. He is also scheduled to meet with the Chief of Defence Staff, Chief of the Air Staff, and Defence Secretary during his stay. Vice Admiral Hammond's itinerary includes visits to Mumbai and Kochi, where he will meet with the respective Commanders-in-Chief and visit significant naval installations like INS Vikrant, Integrated Simulator Complex, and Naval Dockyard (Mumbai) and M/s MDL.

NEW DELHI : The Delhi high court on Wednesday deferred hearing in a plea that sought to probe alleged fraudulent practices by Axis Bank in the sale and purchase of shares in Max Life Insurance Co Ltd. Counsels for the private sector lender and Max Life Insurance said that the case is pending with the Securities and Exchange Board of India (Sebi), which has the authority to adjudicate in these kinds of matters. The entities argued that the dispute, centering on a commercial transaction between two private parties, does not directly implicate the interests of the public shareholders, suggesting limited judicial intervention is warranted.

NEW DELHI : Vistara has blamed poor rostering for a wave of flight cancellations at the full-service carrier, warning it may have to curtail its network for May as well to gradually stabilize operations, two people aware of the development told Mint. Chief executive officer Vinod Kannan addressed Vistara's pilots on Wednesday following a string of flight delays and cancellations that left thousands of passengers stranded. Over the last two days, more than 100 flights of the airline have been cancelled and a large number of flights have faced delays, as disgruntled pilots have called in sick en masse.

NEW DELHI : The Delhi high court on Wednesday dismissed a plea that sought directives for the Centre to implement measures ensuring the confidentiality of personal data collected by international travel companies during ticket bookings. The plea raised concerns about the potential misuse of Indian citizens' data, including Aadhaar and passport details, by three foreign-owned corporations: MakeMyTrip, GoIbibo, and SkyScanner.

New Delhi: A new scheme for funding of political parties is in the works, after the erstwhile electoral bonds scheme was struck down by the Supreme Court as being unconstitutional. According to two people aware of discussions in the government, the Centre has already started work on a new scheme that will address the concerns the apex court expressed while striking down the electoral bonds scheme. The finance ministry is holding internal consultations on the new scheme, which is expected to be finalized after the national elections in April-June, one of the persons cited above said on condition of anonymity.

NEW DELHI : Power plants running on imported coal will have to operate at full capacity till September to meet rising demand for electricity, as per a government order. The power ministry said in a statement that it will extend Section 11 of the Electricity Act till the end of September. So far, the mandate is in effect till June.

Mahua Moitra in a cash-for-query row that also involves Dubai-based businessman Darshan Hiranandani, reported news agency ANI quoting its sources. Earlier, the TMC leader missed ED summons that asked her to appear for questioning at the New Delhi office. The probe agency had issued fresh summons to Moitra and Dubai-based businessman Darshan Hiranandani for questioning in a Foreign Exchange Management Act (FEMA) contravention case. The 49-year-old Trinamool Congress leader was called for questioning twice earlier by the central agency, but she did not depose citing official work and sought deferment of the notice. Moitra, who was expelled from the Lok Sabha in December for «unethical conduct», has been renominated by her party from West Bengal's Krishnanagar seat in the upcoming Lok Sabha polls.