Progressive Financial News

New Delhi: Minister of state for skill development & entrepreneurship and electronics & IT Rajeev Chandrasekhar on Thursday said that India’s semiconductor industry lagged behind due to the lack of political vision and strategic clarity exhibited by previous governments. Addressing the media ahead of the SemiconIndia Conference, scheduled to commence on 28 July in Gandhinagar, the minister highlighted the progress made by the present government in reviving India’s electronics ecosystem and propelling it to become one of the fastest-growing electronics manufacturing nations worldwide.

New Delhi: COP28 President-designate Sultan Al Jaber and United Nations Framework Convention on Climate Change (UNFCCC) executive secretary Simon Stiell on Thursday called upon G20 nations to take a greater leadership role in climate change mitigation and adaptation. With only 125 days to go, the leaders issued a joint statement on the sidelines of the G20 ministerial meeting in Chennai, calling on G20 nations to “lead the way" on delivering a positive outcome on mitigation at the COP28 climate conference this year.

₹1,00,000 on the National Restaurant Association of India (NRAI) and the Federation of Hotel & Restaurant Associations of India (FHRAI) to pay as costs for non-compliance of service charge directions issued on 12 April. The court has directed that the costs be remitted to the Department of Consumer Affairs.

The value of new business (VNB) for private sector life insurers in the first quarter of FY24 seems to be in the slow lane.

The Australian Energy Market Operator says it has approved more project capacity to connect to the grid this year than last, as governments rush to reach ambitious renewable energy targets by the end of the decade.

₹2009.90 per share. Performance outshone expectations, with both revenue and margins surpassing forecasts. The company’s gross margin reached a multi-quarter high of 68.4% in Q1, reflecting a year-on-year expansion of 211 basis points (bps).

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Axis Bank share price gained over a percent on Thursday after the private sector lender reported stable performance in the fiscal first quarter ended June 2023. Axis Bank shares rose as much as to ₹apiece on the BSE. The private lender reported a 41% year-on-year (y-o-y) increase in net profit for Q1FY24, driven by higher net interest income and fee income.

Narendra Modi faced much criticism for his ‘yeh Modi ki guarantee’ comment where he stated that during the third term of BJP-led NDA, India will be among the top three economies in the world. "In our first term, when people gave me the responsibility, we were "dus numbri" (10th position) in the world economy. In the second term we are in 5th position but in my third term, India will be among the top three economies in the world...Yeh Modi ki guarantee hai.

Union Pacific has hired the CEO candidate favored by a hedge fund that's been pressuring the railroad to improve

Boeing is reporting a $149 million loss for the second quarter despite higher revenue, as the plane maker struggles with higher costs in both its airline and defense business

Rohit Sharma is hoping that star pacer Jasprit Bumrah who has been out of action since September last year, can get enough playing time before the ODI World Cup in October this year. Jasprit Bumrah has been out of action since September 2022 owing to his injury and missed the ICC Men's T20 World Cup 2022 in Australia. He also missed the Indian Premier League (IPL) 2023, a tournament in which he represents Mumbai Indians (MI).

AI regulation, said Nick Clegg, President, Global Affairs, Meta. India has currently adopted a wait-and-watch approach to AI regulation, which is prudent, Clegg, the former UK deputy prime minister, told ET. India houses the world's second-largest developer ecosystem, and a huge amount of AI powered innovation is expected from India, Clegg said.

Axis Bank, India's fourth-biggest private lender by market value, Wednesday reported a 41% rise in its June quarter net profit to ₹5,797 crore on the back of higher business income. The bank had posted profits of ₹4,125 crore a year ago. Bank's net interest income (NII), or core income, climbed 27% on year to ₹11,959 crore versus ₹9,384 crore in the same period last year.

MUMBAI : British officials negotiating a free trade agreement (FTA) are advocating bottling their whisky ‘in transit’ in a third country for reasons related to cost, logistics, and ‘premium-ness’ of the products, a person aware of the development said. Negotiations on alcoholic beverages assume significance as India considers opening its vast market to countries such as the UK, Australia, Canada, and the European Union (EU) under the FTA route. India emerged as the world’s largest consumer of scotch whisky—a key UK export—last year.

Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, citing still elevated inflation as a rationale for what is now the highest U.S. central bank policy rate in 16 years. The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase.

NEW DELHI : Parliament Standing Committee on Foreign Affairs urged the government to consider the establishment of economic ties with Pakistan, despite the diplomatic deep-freeze in bilateral relations for some time. “Despite the lack of progress on the diplomatic front, the Committee urge the Government to consider the establishment of economic ties with Pakistan if they come forward and work towards broader people-to-people contacts in view of the cultural commonalities and civilizational linkages between our two countries and no feeling of enmity amongst citizens of both the countries," the Standing Committee said in its report on India’s “Neighbourhood First" Policy.

Commerce and Industry Minister Piyush Goyal said. The International Exhibition-cum-Convention Centre (IECC)) complex is India's largest MICE (Meetings, Incentives, Conferences, and Exhibitions) destination. In terms of the covered space available for events, the complex finds its place among the top exhibition and convention complexes in the world. It comprises multiple modern facilities, including convention centres, exhibition halls and amphitheatres. It was developed by India Trade Promotion Organisation, a body of the commerce ministry. Speaking at the unveiling of the complex, Goyal said the Prime Minister has «inspired us» to move as a nation towards the goal of becoming a developed nation. He also highlighted the role of Shramjeevis and architects in the development of the complex.

Dr Reddy's on Wednesday said it plans to use net surplus cash for acquisitions and product innovations targeting India, emerging markets and US. The drug maker has a net cash surplus of Rs 5000 crore as of June 30, 2023. «A part of it would be used for India and emerging markets primarily for licensing and product acquisitions,» said Erez Israeli, CEO of Dr.

ReNew Power and clean energy solutions provider Gentari on Wednesday announced a strategic collaboration to form a 50:50 joint venture for exploring avenues to invest in 5 GW renewable capacity in India. The collaboration between the parties follows Gentari's initial investment for a 49 per cent equity stake in ReNew's 403 MW Peak Power project in May this year, a company statement said.

Lacasse has embarked on a new chapter in her career with her recent transfer to Arsenal, a move she sees as both a “dream” and a necessity. Having previously played for Benfica, she joined Arsenal ahead of the Women's World Cup, eager to embrace the challenges and opportunities that lie ahead. According to Daily Cannon report, Lacasse expressed her excitement about playing alongside Mead, Miedema, and Russo, stating that she sought healthy competition.