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31.10 / 16:43
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70-hour work week: Shark Tank's Namita Thapar says when 'will we ever find time for family'
Shark Tank panellist Namita Thapar has entered the debate on working 70 hours per week. Thapar took to Twitter to express her concerns about the impact of such long working hours on family time.
31.10 / 16:43
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'Smaller countries fear becoming collateral damage in competition between great powers,' says UN chief
UN chief Antonio Guterres on Tuesday said as geopolitical tensions rise, global divisions are becoming deeper and more dangerous, and smaller countries fear becoming collateral damage in competition between great powers. Guterres made these remarks during his address to Nepal's parliament. The United Nations Secretary-General also spoke on the ongoing conflict in the Middle East, acknowledging that despite being thousands of miles away, Nepali citizens were among the victims of Hamas' brutal attacks in Israel.
31.10 / 16:13
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Reliance Power Q2 Results: Net loss narrows to ₹237 crore on higher revenue, income up 9.5% YoY
₹237.76 crore in the September quarter due to higher revenues, the company said in a BSE filing on Tuesday. Its consolidated net loss stood at ₹340.26 crore in the year-ago period, as per the filing.
31.10 / 16:13
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TCI Q2: Strong automotive sector, festive season to boost growth in H2, says MD Vineet Agarwal
Transport Corporation of India reported a 20% rise in its consolidated net profit to ₹87.8 crore in the September quarter of FY24. The company earned a profit of ₹73 crore in the September quarter of the previous financial year. Its consolidated revenue jumped by 7 percent at ₹1,005 crore, the company said in an exchange filing.
31.10 / 16:13
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Land acquisition clarity could be Singur’s legacy
Tata Motors to set up a factory, but a frenzied agitation against the project forced the company to relocate it to Gujarat in 2008 after it had invested a claimed ₹1,800 crore there and was on the verge of rolling out its Nano cars. In 2016, the Singur acquisition was quashed by India’s apex court, but, given the losses borne, news that Tata Motors has won an arbitral award of ₹766 crore (plus interest) as compensation should not surprise us. Nor should the fact that the state’s Trinamool Congress (TMC) government may contest this order, given the key role this party played in the project’s ejection before it achieved power.
31.10 / 15:39
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China's digital maps omit Israel amid ongoing war with Hamas fighters in Gaza
Catch LIVE updates from Israel-Gaza war here Notably, maps from China has often been the bone of contention in the East Asian Nation's diplomatic relation with other countries. Notably, the absence coincides with China's often non-committal diplomatic stance toward the Middle East and has raised questions among Chinese netizens, particularly in light of recent conflicts.
31.10 / 15:15
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India braces for 8% sugar output dip as cane crop suffers- trade body
India's sugar production is likely to fall 8% to 33.7 million metric tons in the 2023/24 marketing year, which starts on Oct. 1, a leading trade body said on Tuesday, as lower rainfall in key producing states could dent yields. Lower sugar production could lead the world's second-largest producer of sweetener to refrain from allocating export quotas and support global prices, that are trading near multi-year highs. «Sugar production for 2023/24 without considering diversion towards ethanol has been estimated at around 33.7 million tons, against 36.6 tons estimated for 2022/23,» the Indian Sugar Mills Association (ISMA) said in a statement. In August, ISMA had forecast sugar production of 36.2 million tons in the current season. The trade body did not provide an estimate for net sugar production after the diversion of sucrose for ethanol production, but it stated that the output would exceed the country's annual consumption of 27.85 million tons. The diversion of sugar towards ethanol will be estimated only after the government declares the annual ethanol procurement price, the ISMA said. Sugar mills diverted 4.1 million tons of sugar for ethanol production in the last marketing year and the similar allocation could bring down the new season's output to 29.6 million tons, said a Mumbai-based dealer with a global trade house. «The impact of the dry weather in Maharashtra and Karnataka is quite evident now.
31.10 / 15:13
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Canara Bank fraud case: ED files chargesheet against Jet Airways founder Naresh Goyal, 5 others
Mumbai: The Enforcement Directorate (ED) on Tuesday filed a chargesheet against Jet Airways founder Naresh Goyal and five others in the alleged fraud of ₹538 crore at the Canara Bank. Goyal was arrested by the ED on September 1 under the Prevention of Money Laundering Act (PMLA). He is currently in judicial custody and lodged at the Arthur Road jail here.
31.10 / 15:13
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A sustained consumption boom is far from assured yet
Bank of India (RBI) released data in September that showed how the incremental flows of financial liabilities of Indian households have been rising sharply over the past two years, though it is still not clear whether they borrowed money to support consumption or to buy new homes (which shows up in national statistics as an investment activity). Third, households with a steady income still have some excess savings that were accumulated during the two major covid lockdowns. Financial savings of households had gone up sharply in fiscal year 2020-21, as people were either unable or too worried to spend.
31.10 / 14:57
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Markets unlikely to see large volatility due to global bond index inclusion
India Governor Shaktikanta Das said on Tuesday. Last month, J.P.Morgan said it would include India in its widely tracked emerging market debt index, setting the stage for billions of dollars of inflows into the world's fifth-largest economy, which will help it finance its current account and fiscal deficits. «The first thing that has to be recognised in this is that it's a kind of a vote of confidence about the Indian economy and about the Indian financial markets,» Das said. «We can handle large-scale inflows (and) we can handle large-scale outflows. So, therefore, I don't think we will see that kind of volatility.
31.10 / 14:57
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PropTech to become $1 trillion industry in 7-8 years : CBRE
PropTech is expected to become $1 trillion industry in 7-8 years, according to Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East, and Africa, CBRE. Magazine said that the development will move behind 3-4 main cities in coming years. CBRE has selected three startups as part of PropTech challenge, ‘DISRUPTECH 2.0’, where Delhi-based Strawcture has emerged as the winner, while Enlite (Mumbai) and SuperBolter (Bengaluru).
31.10 / 14:13
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Retail inflation for industrial workers eases to 4.72 pc in September
Retail inflation for industrial workers eased to 4.72 per cent in September, compared to 6.91 per cent in August this year, mainly due to lower prices of certain food items and cooking gas. «Year-on-year inflation for the month stood at 4.72 per cent compared to 6.91 per cent for the previous month (August 2023) and 6.49 per cent during the corresponding month (September 2022) a year before,» a labour ministry statement said. Similarly, it stated that the food inflation also reduced to 6.52 per cent against 10.06 per cent of the previous month and 7.76 per cent during the corresponding month a year ago.
31.10 / 14:13
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Imran Khan loyalists would be allowed to contest polls: caretaker prime minister Anwaarul Haq Kakar
Anwaarul Haq Kakar said on Tuesday that the loyalists of Pakistan Tehreek-e-Insaf chairman Imran Khan would be allowed to contest the upcoming polls. Since the unprecedented attack on military installations by the supporters of the Pakistan Tehreek-e-Insaf (PTI) on May 9 following the arrest of their leader Khan, there was speculation that members of the party might not be allowed to contest the general elections in January 2024. Asserting that the government has no plan to place any ban on the PTI, Kakar told reporters here, «How can the government commit any such illegality? All the loyalists of Imran will be allowed to take part in the elections.» He also pledged to ensure a level playing field for all parties.
31.10 / 13:27
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Act with urgency to reform the international monetary system
US Federal Reserve chairman). Fairness should also apply to the distribution of Special Drawing Rights (SDR), this embryo of a global currency that the IMF may issue under certain conditions.
31.10 / 13:27
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Zee-Sony merger: NCLAT transfers all cases to bench led by chairperson
₹150 crore due to a guarantee by ZEE for Siti Networks Ltd, an Essel Group entity. On 10 August, the Mumbai bench of the National Company Law Tribunal (NCLT) had approved the merger of Zee Entertainment and Sony Pictures Networks India (SPNI), paving the way for the creation of a $10-billion media giant in the country.
31.10 / 13:27
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PM Modi attends event marking culmination of Amrit Kalash Yatra
Narendra Modi on Tuesday offered soil into the Amrit Kalash at Kartavya Path during an event marking the culmination of the 'Maati Mera Desh' campaign. The Amrit Kalash contains soil brought from different parts of the country.
31.10 / 13:27
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Road accidents claimed 19 lives in India every hour in 2022, govt report says 1.68 lakh killed last year
MoRTH) report, “During 2022, a total of 4,61,312 accidents were recorded in the country, of which, 1,51,997 (32.9%) took place on the National Highways including Expressways, 1,06,682 (23.1%) on State Highways and the remaining 2,02,633 (43.9%) on other roads." “Out of the total of 1,68,491 fatalities reported in 2022, 61,038 (36.2%) were on National Highways, 41,012 (24.3%) were on State Highways and 66,441 (39.4%) were on other roads", the report said.
31.10 / 13:27
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JSPL Q2 profit jumps manifold as tax liability, expenses fall
₹1,390 crore in the September quarter due to lower tax liabilities and a fall in other expenses during the quarter. The Naveen Jindal-led company's consolidated net revenue, however, fell 9.2% to ₹12,282 crore in the quarter. “We are happy to see our coal mines finally starting.
31.10 / 13:27
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India-Canada row: Foreign Minister Mélanie Joly confirms contact with EAM Jaishankar amid strained relations
Trudeau had said that Canada had ‘credible evidence’ that India and its intelligentsia were involved in the June killing of Canada-based Pro-Khalistan terrorist Hardeep Singh Nijjar in Surrey. The months that followed saw apprehension of Canada restricting Visa for Indians, while India restricted entry for Canadian citizens in India.
31.10 / 13:13
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Narayana Murthy finds a fan in Suniel Shetty, actor says tech titan's 70-hr-week idea will encourage millennials to go beyond their comfort zone
Suniel Shetty has now weighed in on the ongoing debate around Narayana Murthy's suggestion that a 70-hour-week in corporate India can help the country in the long run. The 62-year-old is the latest to join the chorus of 70-hour-week work schedule, after the techpreneur's exhortation has left corporate India split down the middle. Shetty on Tuesday took to LinkedIn to post his take on the issue. In a long update, he cited the example of Amitabh Bachchan, Abdul Kalam, Virat Kohli and Ratan Tata and how these figures achieved exemplary success in their respective fields by going the extra mile. «Do we really think any of these individuals got to where they did in life, by playing within their comfort zones? Do we really think any of these individuals spent the early years of their careers worrying about whether they were striking the right balance between work & life?»
31.10 / 13:13
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As wars rage, Biden administration to make case for $106 billion for Ukraine, Israel
Joe Biden's top advisers will try to convince U.S. lawmakers on Tuesday that it is in the country's best interest to provide billions more dollars to Ukraine and Israel despite huge budget deficits and divisions over his administration's policies toward both countries. Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin will testify to the Senate Appropriations Committee on Biden's request for $106 billion to fund ambitious plans for Ukraine, Israel and U.S.
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