Awards Financial News

Commonwealth of Nations. According to Marie Claire, in spite of many individuals believing that she genuinely deserved a Nobel Peace Prize for her diplomatic efforts, it was eventually revealed that she declined such nominations. Marie Claire reported that a senior courtier indicated that Buckingham Palace was approached multiple times by Commonwealth leaders for guidance on nominating her, but eventually they were politely told that the Queen did not wish to be considered for the honor. Also Read: Will Jan 6 Capitol rioters be pardoned under Donald Trump’s Presidency?

Chipmakers like Qualcomm are pushing the Indian government to delicense a portion of the 6GHz spectrum band to support the latest Wi-Fi 7 technology. However, telecom operators are mounting a pushback seeking for the band to remain licensed and available for cellular connectivity. As a result, the Department of Telecommunications (DoT) has been putting off its decision on delicensing the band with telecom operators, broadband providers as well as the Indian Space Research Organisation (ISRO) caught in the tussle. So, Wi-Fi 7 enabled products are not being allowed to enter the market, with the PlayStation 5 Pro the most recent example. To work around this, chipset makers like Qualcomm and MediaTek are pushing ahead with Wi-Fi 7 products in India. A top Qualcomm executive said that gearmakers are currently working around the ban by not opting for 6GHz support in new routers. Instead, they continue to support 2.5GHz and 5GHz bands which are combined to give a higher bandwidth. The 6GHz spectrum, which spans from 5925-7125MHz, is considered ideal for both 5G services and Wi-Fi use due to its capability to deliver higher bandwidth. Telcos fear that free use of the band for Wi-Fi would eat into their revenue. Even ISRO has raised concerns about potential interference with its satellite operations if the band is used for cellular connectivity.

Emaar India, the local arm of Dubai's Emaarproperties, is expected to achieve pre-sale of Rs 5,000 crore in FY 24-25 as it has entered into the next phase of expansion in India, Kalyan Chakrabarti, CEO of Emaar India, told ET. In the current financial year, it has sold commercial plots worth Rs 500 crore and a holiday home project in Alibaug, which will generate revenue of Rs 700 crore. It is expecting another Rs 2,500 crore from a project in Gurgaon while another smaller project will be launched later this year. “We will continue to expand in other cities but Gurgaon will be our main market for next few years. The projects that are getting launched, are receiving good response from the buyers and we are self sufficient to execute projects,” said Chakrabarti.

Noida International Airport, scheduled for Friday, has been postponed after failing to get the required permissions from the DGCA, an official said. The test is likely to begin from November 30, he said. After the calibration report was approved, there was a plan to start testing on the runway from November 15, under which it was planned to land and take off three aircraft each of aviation companies Indigo and Akasa daily. Dr Arunvir Singh, Chief Executive Officer of Yamuna Expressway Industrial Development Authority (YEIDA), said, «Due to non-receipt of permission from Directorate General of Civil Aviation, the test of the runway of the proposed Noida International Airport from November 15 has been postponed. It is expected that the test will start from November 30. Preparations are being made accordingly.''

Spectrum auction will enable local entities to compete with foreign satellite players who can potentially block entry of Indian companies into Satcom space in future, Reliance Jio said in a letter to telecom regulator Trai on Friday. While opposing the proposal to allocate spectrum to Satcom players without auction, Jio said that Elon Musk-owned Starlink and Amazon's Kuiper combined Satcom bandwidth is more than the capacity built by all three leading Indian telecom operators over the years. «Assignment through the auction will provide an opportunity for Indian entities to directly compete with foreign entities, who have blocked First come First Served based ITU (International Telecommunication Union) priority list, and plan their own constellation. In the absence of clarity and certainty of spectrum assignment/priority, no Indian entity will ever be able to launch its own NGSO ( non-geostationary orbit) constellation,» Jio said.

Canara Bank has classified the loan accounts of Anil Ambani’s bankrupt telecom venture Reliance Communications and its unit as fraudulent for allegedly misappropriating Rs 1050 crore loaned from the bank in 2017 which were originally sanctioned for capital expenditure and paying off the company’s existing debt. “After availing and enjoying the said loans, credit facilities, your company had committed default and breached of the sanctioned terms and conditions. The loan accounts slipped into Non-Performance Asset («NPA») on 09.03.2017,” Canara Bank said in its letter to Reliance Communications dated November 5. Canara Bank claims that reasons for classifying the accounts as fraud were non-utilization of funds as per sanctioned terms and inter-company transactions to pay other debts. “Loans availed were also invested in mutual funds and fixed assets and the same were liquidated to make payments to related and non-related parties,” the bank said.

seaplane landed at Pandu Ghat in Guwahati on Friday after a successful flight from the city airport, making it the first such plane to land in Assam. The addition of seaplanes to the state's transport network is expected to boost connectivity and tourism, Chief Minister Himanta Biswa Sarma said. «Earlier today, a sea plane successfully landed at Pandu Ghat on the banks of Brahmaputra, marking the first river landing in Eastern India, which will open new chapters of connectivity in a riverine state like Assam,» Sarma said in a post on X. «A dawn of new possibilities in the Tourism & Intercommunication of Assam. This morning, participated in an 'Amphibian Airplane' demonstration in Guwahati by M/s De Havilland Canada in collaboration with the Ministry of Civil Aviation,» State Tourism Minister Jayanta Malla Baruah, who took the flight, posted on the micro-blogging site.

Philip Green, who paid a courtesy visit to Agriculture Secretary Devesh Chaturvedi on Thursday, discussed new opportunities for collaboration in agriculture and allied sectors. Highlighting the importance of agriculture in Australia's priorities, Green expressed «keen interest in exploring opportunities within the agri-tech sector». He also stressed the need for continued engagement to identify and unlock new opportunities for trade and cooperation.

Hardeep Singh Puri said on Friday. Speaking at the Geo India 2024 conference in Greater Noida, on the outskirts of the national capital, the minister said the government's reforms agenda to make it easier to find and produce crude oil (which is refined into fuels like petrol and diesel) and natural gas (which is used to generate power, make fertilizer or turned into cooking gas and CNG) will continue. He promised interference-free administration. «If you have a private sector company which is family owned, you still have interference. But if you have well run state oil companies as our oil firms are, and you have a minister like me, you will have zero interference. I have said that repeatedly,» he said.

C Rangarajan said on Friday. Speaking at the ICFAI Foundation for Higher Education (IFHE), Rangarajan stressed on the importance of «ensuring efficient fund utilisation before increasing healthcare spending.» «In India, there is a consistent discussion on raising healthcare expenditure to at least 2.8 per cent of the GDP. However, current data indicates that we are spending only about 1.8 or 1.9 per cent of the GDP,» he said. «Governments should increase healthcare spending, focus on establishing hospitals that offer free services, and ensure these funds are utilised efficiently.» The former chairman of the PM's Economic Advisory Council stated that education and health are crucial for accelerating the country's progress. «However, in India's social expenditure system, more resources are allocated to education than to health, which may not be the ideal approach.»

Jaypee Infratech Ltd's Managing Director and Chief Executive Officer Aalok Champak Dave has resigned from the company citing personal reasons. Jaypee Infratech has appointed Abhijit Gohil as Chief Executive Officer (CEO) of the company. Mumbai-based Suraksha Group has taken control of Jaypee Infratech Ltd after winning the bid to acquire the latter through the insolvency process. Dave, who joined Suraksha Group in 2015, has been involved in the process of acquiring Jaypee Infratech for the last six years.

Tamil Nadu Chief Minister M K Stalin on Friday laid the foundation stone for a new manufacturing unit of the Taiwanese company Dean Shoes at the SIPCOT industrial park, Jayankondam, here. The footwear major Long Yin Investment (Dean Shoes) will invest Rs 1,000 crore for the project in the industrially backward district and it will generate employment to 15,000 people. This investment would further establish Tamil Nadu as a global hub for non-leather footwear manufacturing and would transform more districts like Perambalur, Ranipet and Ariyalur, driving distributed growth across the state, Industries Minister T R B Rajaa said. «More importantly, 90 per cent of these jobs are for women, a key pillar of the Dravidian Model,» the minister claimed.

Pralhad Joshi has proposed formation of a task force in consultation with the Ministry of Power to push efforts to meet India's ambitious target of having 500 GW renewable energy capacity by 2030. The minister for new and renewable energy has also urged industry players and stakeholders to devise strategies which would help the country meet the target in a time-bound manner. Speaking at an event in Bhubaneswar, the minister proposed the formation of a task force, in consultation with the Ministry of Power, to align the efforts of all stakeholders towards meeting the 500 GW target, the ministry for new and renewable energy (MNRE) said in a statement on Thursday. India has already achieved 212 GW of energy from non-fossil fuel sources and is on track to exceed the 2030 target, he said.

polished lab-grown diamonds. In October 2024, the exports of gems and jewellery reached USD 2,998.04 million (Rs. 25,194.41 crores), marking a growth of 9.18% in dollar terms and 10.23% in rupee terms, compared to USD 2,746.09 million (Rs. 22,857.16 crores) in October 2023, according to figures released by Gem & Jewellery Export Council (GJEPC) today. Cut and polished diamonds led the recovery in October 2024, with gross exports reaching USD 1,403.59 million (Rs. 11,795.83 crores), marking a growth of 11.32% in dollar terms and 12.39% in rupee terms compared to USD 1,260.91 million (Rs.10,495.06 crores) in October 2023. Commenting on the export growth, Vipul Shah, Chairman, of GJEPC, said, «Notably, the export of cut and polished grew 11.32% compared to October 2023. We are optimistic that this trend will continue, especially with the approaching holiday season in the West, which will likely drive further demand for gems and jewellery. Furthermore, the GJEPC is making concerted efforts to expand into new markets while strengthening demand in existing ones.”

hydrogen energy production and exports says Union minister for petroleum and natural gas Hardeep Singh Puri. Speaking at the 6th South Asian Geoscience Conference and Exhibition, Puri said, «With projects like hydrogen blending in natural gas pipelines, localization of electrolyzer-based technologies, and the promotion of bio-pathways for green hydrogen production, India is set to become a global champion in hydrogen production and exports.» Puri added that India is on track to emerge as the hub for green hydrogen, considered as the fuel for the future.

Delhi High Court has refused to interfere with an arbitral award, which directed GAIL to pay over USD 7 million to Jindal Saw Ltd. On October 29, a bench of Justices Visbhu Bakhru and Sachin Datta dismissed GAIL's appeal against a single judge's decision upholding the award, saying that it was «unmerited». The dispute in the matter pertained to delayed delivery of pipes by SAW Pipes Ltd, now Jindal Saw Ltd, to Gas Authority of India Ltd (GAIL). The Arbitral Tribunal, passed in December 2002 and then amended in March 2003, had held that GAIL was responsible for the delay by not taking the delivery of the goods and therefore allowed the claims filed by SAW Pipes Ltd.

According to a research report by Jefferies, the combined market share of the two top automobile manufacturers--Maruti Suzuki and Hyundai--has slipped to a 12-year low in the first half of fiscal year 2025 (1HFY25). This shift highlights a dynamic change in consumer preferences and competitive positioning within the PV sector.

inflation, according to a recent report by Moody’s. The ratings agency projects India’s GDP to grow by 7.2% in 2024, followed by 6.6% in 2025 and 6.5% in 2026. In the second quarter of 2024, India’s real GDP expanded 6.7% year-over-year, fueled by a resurgence in household consumption, increased investment, and solid manufacturing activity. Indicators of economic health, including positive manufacturing and services PMIs, robust credit growth, and consumer optimism, point to continued growth in the third quarter. Household spending is expected to remain strong, buoyed by festive season purchases and rising rural demand as agriculture rebounds. Private investment is likely to be supported by increasing capacity utilization, strong business sentiment, and the government’s ongoing infrastructure investments, said the report.

The Ford government has signed a deal worth roughly $100 million with Elon Musk’s Starlink company to provide high-speed internet to parts of northern and rural Ontario.

SOM Distilleries and Breweries Ltd has released its financial results for the second quarter and half- year of fiscal year 2025. This performance underscores the company’s strategic focus on expanding its market presence, optimising financials, and enhancing its brand portfolio.

The investigation wings of the Income Tax (I-T) department across the country have been told by the central direct tax body to collect information on agreements where individuals and Hindu Undivided Families (HUFs) had struck a deal with developers but may not have paid tax even after the buildings received 'completion or occupation certificates' (CC/OCs). CC/OCs are typically issued by municipal authorities of states once the construction is complete and the projects are in a ready-to-move-in state.