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Showing posts from September, 2024

Government eyes foreign investment review mechanism

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Government banks on homegrown cos to push EVs

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Dharmendra Pradhan Slams Opposition-Led States for Failing to Curb Youth Unemployment

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Union Minister Dharmendra Pradhan criticized opposition-ruled states for failing to address rising youth unemployment, particularly in Kerala, where the rate reached 29.9%. He highlighted the gender gap, with 47.1% of females jobless. Praising BJP-ruled states like Madhya Pradesh and Gujarat for lower unemployment rates, Pradhan accused opposition states of mismanagement and corruption, urging accountability and leadership that delivers results. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/L9vkfAq

Ayodhya schools closed amid heavy rains, check official notice here

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The Ayodhya education officer announced that all schools (classes 1 to 12) will remain closed on September 28, 2024, due to heavy rainfall. If conditions improve, schools will reopen on October 30, 2024. The decision was made to ensure the safety of students, teachers, and staff. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/zSnW6oR

Front-running: Angel settles case with Sebi

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New age tech IPOs rake in Rs 15,000 crore, best year since 2021

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New-age tech IPOs are benefiting from bullish stock market sentiments after a three-year lull. This year has seen nearly Rs 15,000 crore raised through IPOs, the best since 2021. Six startups including Ola Electric and FirstCry have gone public, raising a combined Rs 14,571 crore. A slew of startups like Zepto and PhysicsWallah are eyeing market debut in the coming year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wCjGWU1

Minimum wages for unorganised sector to rise as variable DA up

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The Centre has raised minimum wage rates for unorganised sector workers through a revision of the variable dearness allowance. Effective from Oct 1, these new rates are categorised by skill levels and geographical areas. This move is intended to help workers cope with increasing living costs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Z9GgrS7

Ministerial panel looks to rework GST rates on over 100 items

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The ministerial panel on GST rationalisation has discussed proposals for adjusting rates on over 100 items and merging the 12% and 18% slabs. The fitment committee will analyse the impact, potentially reducing rates for common goods and increasing them for luxury items. Further discussions are scheduled in Delhi later this month. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hWKgHEs

Swiggy submits revised IPO draft papers to Sebi, aims to raise over Rs 10,000 crore

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Swiggy has submitted updated draft papers to Sebi for its anticipated IPO, which includes a fresh issue worth Rs 3,750 crore and an offer-for-sale of 18.52 crore shares by existing shareholders. The total IPO size is expected to exceed Rs 10,000 crore. Funds will be allocated for debt repayment, expansion efforts, technology upgrades, and marketing activities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Rv2kjP3

BP raises India bet with board visit amid ONGC, Cairn search for suitors

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BP plc is amplifying its commitment to India by hosting its full board meeting in the country. This visit aligns with Indian firms seeking partnerships for offshore projects. BP's technical expertise and ongoing ventures, including a stake in Reliance's KG-D6 block, make it an ideal partner for these initiatives. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vU1dh7F

Zaggle acquires 26% stake in Mobileware to boost its digital payment capabilities

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Mumbai schools and colleges shut tomorrow amid IMD's heavy rain alert, BMC issues notice

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The Brihanmumbai Municipal Corporation has declared a holiday for all schools and colleges in Mumbai on Thursday, 26 September 2024, as a precautionary measure due to severe weather conditions. The India Meteorological Department has issued a Red Alert until tomorrow morning. Residents are advised to avoid leaving their homes unless absolutely necessary. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/QoRzUm7

S&P retains 6.8% growth forecast, sees October rate cut

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Sebi nod: Hyundai's Rs 25k cr IPO & Swiggy's Rs 12,000cr

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Cheaper crude gives room for excise duty hike, fuel price cut

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The drop in oil prices offers the Indian government an opportunity to raise excise duty, partly absorbing fuel retailers' profits. This could result in moderate reductions in petrol and diesel prices, helping curb inflation. The government must decide whether to enhance fiscal revenues or pass savings on to consumers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UZGeWPi

Over 9 in 10 F&O retail traders lose money: Sebi

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Assets under ARCs shrink in Q1 as bad loan nos drop

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Vodafone Idea signs Rs 30,000 crore deal with Nokia, Ericsson & Samsung for 4G, 5G equipment

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Vodafone Idea has awarded contracts worth Rs 30,000 crore to Nokia, Ericsson, and Samsung for network equipment over the next three years. This move is part of a larger Rs 55,000 crore capital expenditure plan aimed at expanding 4G coverage and enhancing capacity. The company seeks to improve customer experience and support data growth. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H1WLE3R

Over 350 candidates in Uttar-Pradesh barred from UP NEET UG, PG counselling 2024: Check list of candidates, DMET notice here

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In Uttar Pradesh, over 350 candidates have been barred from NEET PG and UG counselling by the Directorate of Medical Education and Training due to past errors. The aim is to prevent seat wastage and promote responsible participation. Disqualifications stemmed from failure to accept assigned seats or document verification issues. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/wdjgm2O

KEA VAO 2024 hall ticket out at cetonline.karnataka.gov.in: Direct link to download here

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The Karnataka Examination Authority has released admit cards for the Village Administrative Officer recruitment exam. Candidates can download their hall tickets from the official website. The mandatory Kannada Language Exam is set for September 29, 2024, from 10:30 am to 12:30 pm. This recruitment drive aims to fill 1,000 VAO positions in Karnataka's administrative framework. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/ynQcIhZ

No immediate legal view on SC's telecom AGR call: Govt

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'Russian roulette' in markets, RBI flags volatility risks

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IT cos returning to campuses after gap year

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Sebi modifies framework for valuation of AIFs' investment portfolio

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Sebi has modified the valuation framework for Alternative Investment Funds (AIFs), aligning it with mutual fund rules for certain securities. This update follows industry feedback and takes effect immediately. Independent valuers must now belong to registered entities like ICAI, ICSI, or CFA charter. Changes in valuation methods must be disclosed to investors but are not considered material changes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OL7iKvf

Wall Street holds near records after Fed delivers a big cut to rates

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Wall Street hovers near record highs as the Federal Reserve initiates a significant interest rate cut to stave off a recession. The S&P 500 remains nearly unchanged, with slight movements in the Dow Jones and Nasdaq. The Fed aims to support the slowing economy and job market while carefully managing inflation risks. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iu0m3se

Michelle Bowman's dissent is first from Fed Governor since 2005

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Federal Reserve Governor Michelle Bowman dissented on an interest-rate decision for the first time since 2005, opposing a 50 basis point cut in favor of a quarter-point reduction. Her stance reflects concerns about easing too quickly and highlights ongoing internal debates within the Fed over monetary policy amidst economic challenges. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/d3zymca

US Federal Reserve cuts interest rates by 50 bps in key FOMC meet chaired by Jerome Powell

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US Federal Reserve Meeting: The US Federal Reserve has cut interest rates by 50 basis points, the first reduction in over four years, aiming to reverse restrictive economic conditions. Policymakers expect further rate cuts, targeting a range of 4.25%-4.50% by year-end as inflation nears the 2% goal and unemployment rises. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/63UqOtz

New audit norms planned to check frauds

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The National Financial Reporting Authority (NFRA) has suggested updating an outdated accounting standard to align with global norms, focusing on listed private companies. This proposal aims to safeguard investors by addressing multiple accounting lapses. Despite resistance from auditors, NFRA stresses the importance of modern standards given today's complex financial systems and increasing retail investor participation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TEJRM46

Subhadra first govt scheme to offer digital rupee payment

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Subhadra Yojana in Odisha provides women with Rs 10,000 annually in Central Bank Digital Currency (CBDC). Launched by PM Narendra Modi, the scheme ensures direct deposits into beneficiaries' bank accounts without intermediaries. Linked to RBI's digital currency pilot, the digital rupee can be spent using UPI QR codes or transferred to bank accounts. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/c0MwUaG

AR glasses are here: Snap launches spectacles at LA summit and its own OS to power it

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Snap Inc introduced its fifth-generation AR spectacles at the Snap Partner Summit in Los Angeles. These lightweight glasses feature a new OS, hand gesture controls, and virtual console capabilities. Initially available to developers for $99 monthly, they promise advanced AR experiences with partnerships including OpenAI, Lego Games, and Niantic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ygF7rlp

Will controversy: Baba Kalyani refutes brother’s claims

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Baba Kalyani, chairman of Bharat Forge, disputes his brother Gaurishankar's claims regarding their late mother Sulochana's will. Gaurishankar alleges Baba coerced her into making a favorable 2012 will. The Pune civil court must now assess the validity of both the 2012 and 2022 wills to settle the inheritance dispute. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0RYtUiH

Goyal suggests new township for startups as India's answer to Silicon Valley

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Commerce and industry minister Piyush Goyal proposed developing a new township dedicated to startups, aiming to create an ecosystem for entrepreneurs and innovators. Partnering with NICDC, he envisions this area as India's own Silicon Valley. Goyal also announced setting up a non-profit entity to consolidate startup initiatives under one roof. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AenSrdt

Kalyani brothers spar over mother's wills in fresh feud

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Baba Kalyani and his younger brother Gaurishankar are engaged in a legal dispute over their late mother Sulochana's will. Baba seeks to probate a 2012 will, while Gaurishankar presents another from 2022. The case involves significant assets, including properties and shares in the Kalyani Group, with a court hearing expected next month. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xhEXRF5

Inter-dept panel may be set up to ensure compliance by online gaming platforms

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An inter-departmental committee is proposed to address the rise of online gaming platforms and ensure regulatory compliance. The GST intelligence wing has acted against 118 domestic entities and identified 658 offshore ones for non-compliance. Legal clarity on a 28 per cent tax rate exists, but enforcement is still difficult. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ul867jU

Sebi exempts Spice Healthcare from making open offer for SpiceJet shareholders

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Sebi has exempted Spice Healthcare from making an open offer to SpiceJet shareholders upon acquiring additional shares, with conditions including a longer lock-in period. SpiceJet also announced new board appointments as it aims to bolster its financial health and meet various obligations. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DS0XCeU

E-commerce speeds up to catch up with Quick commerce

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'Will take digital public infrastructure stack to 50 nations'

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PM e-drive scheme to aid in faster adoption of EVs: M&M, Tata Motors

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Mahindra & Mahindra and Tata Motors have lauded the PM e-drive scheme designed to enhance electric vehicle adoption in India. The Union Cabinet has sanctioned two schemes worth Rs 14,335 crore for promoting EVs such as buses, ambulances, and trucks. Key industry figures anticipate that this move will expedite India's progress towards sustainable transportation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AqG0ygB

Trump's plan to hike tariffs would spike shipping costs, just like in 2018, experts say

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US presidential contender Donald Trump plans to hike import tariffs if re-elected, potentially driving up cargo rates and inflation. His proposal includes blanket tariffs of 10% to 20% on most imports and higher rates on Chinese goods. Experts warn this could lead to increased consumer costs and disrupted supply chains. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5NIODH0

Centre approves Rs 3,435 crore scheme for procurement and operation of public electric buses

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The Centre has approved the PM-eBus Sewa-Payment Security Mechanism scheme with an allocated budget of Rs 3,435.33 crore for deploying over 38,000 electric buses from 2024-25 to 2028-29. The initiative aims to reduce greenhouse gas emissions and fossil fuel consumption by supporting public transport authorities through a dedicated fund ensuring timely payments. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iW58Vd4

Govt backs disclosures for credit card, e-transactions

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Former Byju's staff get I-T notices for 'unpaid' TDS

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Kenyan court halts Adani's proposal for Nairobi airport

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'India not closed to business from China but ...': EAM Jaishankar

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External Affairs Minister S Jaishankar stated that India remains open to business with China but emphasized the importance of sector-specific engagement and terms. Following the Galwan clash in 2020, India tightened investment scrutiny. Officials now propose relaxing restrictions in non-sensitive sectors like solar panels and battery manufacturing to enhance domestic production. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9BivQAr

Gadkari: EVs may not need subsidies in 2 years

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Nitin Gadkari, the road transport minister, indicated that electric vehicles could be subsidy-free within two years as their prices are expected to equal those of petrol and diesel vehicles due to declining battery costs. He emphasized consumer choice and highlighted issues related to fuel import bills and pollution from internal combustion engine vehicles. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6uVQCL5

SpiceJet's Ajay Singh may sell over 10 pc stake in airline to raise funds

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Ajay Singh, chairman of SpiceJet, may sell over 10% of his stake in the airline as part of a funding round aimed at raising up to Rs 3,200 crore. This move seeks to address financial challenges and operational needs. The funding round is anticipated to be completed by the end of September. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Smu7KXV

It’s raining IPOs on D-Street. 16 offers eye Rs 9k cr this week

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Dalal Street investors will have the opportunity to invest in 16 IPOs next week, aiming to raise nearly Rs 9,000 crore. Bajaj Housing Finance's IPO is the largest at Rs 6,560 crore. Key factors for this surge include substantial investor liquidity and regulatory changes, as noted by Pantomath Capital Advisors. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ktv5gfu

AAP terms GST on research grants 'tax terrorism', demands withdrawal

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The Aam Aadmi Party criticized the BJP-led central government for imposing GST on research grants, describing it as "tax terrorism". They called for its withdrawal, claiming it stifles innovation and progress. Notices have been issued to institutes such as IIT Delhi, demanding GST on grants received since 2017. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GCBzyJ3

MSDE partners with Swiggy to provide skilling, employment opportunities

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The Ministry of Skill Development and Entrepreneurship has teamed up with Swiggy to offer skilling and employment opportunities in its food delivery and quick commerce network. This collaboration aims to benefit 2.4 lakh delivery partners and restaurant staff by providing access to online courses, certifications, training modules, and job opportunities through the Skill India Digital Hub (SIDH). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ch5OBDM

Forex reserves rise by $2.3bn to record $684bn

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