India

Date

A pair of gold-plated spectacles belonging to Mahatma Gandhi was discovered by employees of an auction house at UK's Bristol. East Bristol Auctions in south-west England said that they were surprised to find the spectacles, received through their letterbox in an envelope. It may behold a rich history, said the auctioneers.....


Benchmark Sensex jumped over 300 points in early trade on Monday, led by gains in index majors HDFC twins, L&T and Kotak Bank amid sustained foreign fund inflow and positive cues from global markets...


Swiggy is preparing to launch a chain of virtual convenience stores to deliver grocery and household items within 45 minutes, sources told ET, a development that the food app delivery later confirmed.The launch of InstaMart comes at a time when the Covid-19 pandemic has hastened consumer preference for doorstep deliveries, especially in metros, and as deep-pocketed entrants, including Flipkart Quick, as well as existing players Amazon, BigBasket …


The chemical manufacturing industry is bracing up for enhanced supervision and handling norms with regard to substances that come close to explosive grade. Chemical manufacturers are expecting the government to issue stricter norms for handling of ‘ammonium nitrate (AN),’ the explosive chemical that led to a mini nuclear-like blast in Beirut recently. Even handling of phosphorous, a chemical used for manufacturing of matchsticks and f…


Instead of completely changing the return forms, the effort is now to introduce, within the existing framework, changes in a staggered manner Filing goods and services tax (GST) returns will be easier with technological changes set to be introduced over the next few months, while putting on hold the simplified return-filing system, which had been proposed earlier. Instead of completely changing the return forms, the effort is now to introduce, wi…


The defence minister said various departments and ministries of the government are working tirelessly to implement Modi's initiative for a self-reliant India and that it is an attempt to give a fresh dimension to Mahatma Gandhi's push for 'Swadeshi' Defence Minister Rajnath Singh will launch 'Atma Nirbhar Bharat Saptah' on Monday at 3:30 pm, according to the official statement. Singh also said the Prime Minister Narendra Modi …


Indian Railways has been facing a challenging year because of the coronavirus outbreak. With passenger revenues hit by the limited train services in the first quarter of the fiscal, the national transporter is pinning hopes on an increase in freight revenue and lower expenditure to match last year’s operating ratio. Plans are being finalized for private firms to run freight trains on dedicated freight corridors, Railway Board chairman Vin…


From ₹13,150 cr as of June 2019, they have grown to ₹83,827 cr as of June 2020 Is Reliance Industries (RIL) planning a big splash in the financial services sector? The company had identified ‘financial services’ as a separate business segment from the March 2020 quarter. While no specific roadmap was laid out in the recent AGM or in the June 2020 quarter results, the sharp jump in the segment’s assets in the recen…


Coronavirus pandemic has granted us "an opportunity to reboot our thinking and reinvent our approach", Mahindra Group chairman Anand Mahindra said at Mahindra & Mahindra's 74th annual general meeting on Friday. “Let me stress that growth continues to be our goal. If anything, our focus on growth is sharper than before. We have already started identifying and taking appropriate action on businesses that have not lived up to t…


The world has a lot riding on India and China given their size and the impact, External Affairs Minister S Jaishankar said on Saturday, suggesting that the future of ties between the two countries would depend on reaching "some kind of equilibrium or understanding". Read more at:https://economictimes.indiatimes.com/news/politics-and-nation/world-has-lot-riding-on-india-and-china-due-to-their-size-and-impact-jaishankar/articleshow/77436167.cms?utm…


The latest gaming phone from the Taiwanese gadget giant blends powerful gaming experience with superior software performance and seamless multitasking Asus has just introduced its third generation Republic of Gaming (RoG) smartphones -- the ROG Phone 3 -- in India. The timing of the launch seems pretty accurate, despite the difficult situation.....


China's imports from India have gone up 6.7 per cent since January this year to $11.09 billion. As a result, total trade with India has registered a slightly lower 18.6 per cent drop since the beginning of 2020 As voices calling for 'Boycott China' grow stronger, Government of China's customs data shows that mainland China's exports to India since January 2020 have fallen 24.7 per cent year-on-year to $32.28 billion. Interestingly, mainland China…


ashish Dahiya, Chief Executive Officer and co-founder of PolicyBazaar.com, commented on the impact of the Covid-19 pandemic and the consequent lockdown on startups in India. He was speaking at the latest edition of Mint's Pivot Or Perish webinar series which aims to decode how Indian businesses and consumers are responding to the evolving situation posed by the unprecedented health crisis. Dahiya said that PolicyBazaar was 'fairly well-capitalise…


Mukesh Ambani has surged past Europe’s wealthiest man, making him the world’s fourth-richest person.Reliance Industries Ltd.’s chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index. That gives him a bigger wealth pile than France’s Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered from customers curbing high-end fashion purchases faste…


There is an urgent need to look towards improving presence of Micro, Small and Medium Enterprises (MSMEs) industry in the 115 identified aspirational districts of the country, said Minister of MSME, Nitin Gadkari, here on Saturday....


Kerala plane tragedy: 19 people, including Captain Deepak Sathe, pilot-in-command, and Akhilesh Kumar, his co-pilot, lost their lives in this mishap The Directorate General of Civil Aviation (DGCA) said that the Air India Express plane was at full speed while making its landing at the Kozhikode International airport in Kerala, also known as Karipur airport, and overshot the runway on Friday evening.....


Individuals and companies are upbeat about their prospects in a year’s time though they remain downcast about the current state of things, separate central bank surveys found. Consumer Confidence Index (CCI) for the current fiscal year came in at a measly 53.8 points in a Reserve Bank of India (RBI) survey, but jumped to 105.4 points for a year ahead. The survey was based on responses from 5,342 households across 13 major cities.The central…


Sowing higher by 10 per cent as area under oilseed, rice, pulses expands Kharif planting is all set for a new record with sown area under many crops including major oilseeds and cotton exceeding the normal area. According to kharif sowing data released by Agriculture Ministry on Friday, a total of 966 lakh hectares (lh) were planted till date, nearly 10 per cent more than 878 lh sown in the corresponding week last year. Though there is nearly tw…


About 71% of Bandhan's banking outlets are located in rural and semi-urban areas Bandhan Financial Holdings Ltd (BFHL), the holding company of Bandhan Bank, sold nearly 21 per cent to comply with the Reserve Bank of India’s (RBI) ownership rules, and raised Rs 10,500 crore. In terms of percentage shareholding, the sale was one of the largest through block deals, involving marquee investors such as GIC Pte, BlackRock and Temasek. That this d…


The UP government and YIEDA have roped in medical device industry body AiMeD (Association of Indian Medical Device Industry) to partner with the government to develop the proposed MedTech park Uttar Pradesh will join the central government's challenge programme to bag one of the four greenfield medical device park projects that are being proposed under heavy central funding and assistance. The state has identified a Greater Noida site close to …


The Bill and Melinda Gates Foundation, along with Gavi-The Vaccine Alliance, will provide at-risk funding of $150 million to Serum Institute of India to support the production of two promising vaccines by University of Oxford and Novavax on the condition that the Pune-based firm prices the two vaccines at a maximum of $3 per dose. Under the pact, Serum Institute will receive funding from the Gates Foundation through Gavi-The Vaccine Alliance, a…


Serum Institute of India (SII), the world’s largest vaccine manufacturer by volume has capped the price of Covid-19 vaccine at $3 per dose for low and middle income countries, including India as part of a new partnership with Gavi, The Vaccine Alliance and the Bill & Melinda Gates Foundation. SII will manufacture and deliver up to 100 million doses of the under development AstraZeneca/Oxford and Novavax COVID-19 vaccines for India and 9…


US President’s directive to buy local drugs unlikely to impact us: Indian industry India is hopeful that US President Donald Trump’s executive order requiring federal agencies to buy certain essential drugs and medical supplies locally may not substantially affect exports from the country because of their low price, government officials have said.....


Air India Express aircraft from Dubai to Kozhikode with 191 passengers crashed after overshooting the runway and going into the valley at Kozhikode. 17 people have been confirmed dead. At least 17 people, including the pilot, DV Sathe, died when an Air India Express aircraft from Dubai to Kozhikode with 191 onboard crashed after overshooting the runway at Karipur Airport on Friday. "Seventeen people, including the pilot, lost their…


Bilateral trade between Cambodia and India are on a significant rise while the two countries are moving forward to the free trade agreement (FTA) talks which will contribute to further boosting the two-way trade. Statistics from the Ministry of Commerce stated that the trade exchange volume between both nations was recorded at $271 million last year, a year-on-year increase of 30 percent....


Pune-based Serum Institute of India and US-based Novavax have announced an agreement for the development and commercialization of Novavax’ COVID‑19 vaccine candidate in India and other low- and middle-income countries. The agreement is expected to support minimum of 1 billion doses of NVX-CoV2373 for India and low- and middle-income countries, Novavax said.....


Months of lockdown have altered the habits of Indian consumers: Their spending patterns reveal just how deeply concerned they are with protecting their health and fortifying their store-cupboards, warding off boredom and keeping their homes (and themselves) neat and tidy. And where new routines look likely to stick, some companies stand to gain a lot. Here are a few of the products shoppers in the world’s biggest open consumer market have b…


At a time students across the country continue to learn from home, top edtech firm Byju’s has doubled down on its business, raising large chunks of capital and buying code training platform WhiteHat Jr for $300 million. This is the fifth acquisition by Byju’s and the largest acquisition in India’s edtech space. In an interview, Byju Raveendran, CEO, Byju’s, spoke of how the deal will help the company’s planned entry …


Microsoft is chasing a deal to buy all of TikTok’s global business, including the viral video app’s operations in India and Europe, the Financial Times reported on Thursday, citing people with knowledge of the matter. One investor pegged the value of Tik-Tok’s India business at as much as $10 billion.Microsoft had said on Sunday that it was in negotiations with ByteDance, the Chinese owner of TikTok and the world’s largest…


Can help check diversion of funds and frauds, say bankers Concerned over borrowers using multiple operating accounts, both current as well as cash credit (CC)/overdraft (OD), the RBI has put in place certain safeguards.....


The Adani Gas and French energy major Total SA will soon seek government nod to open retail fuel stations in India, said the former's chief executive officer, Suresh Manglani, on Wednesday. "Definitely we will take full benefit of the expertise and strength of Total," Manglani had told reporters on an earnings call, adding that the intent was to become a full-service operator providing a multi-fuel offering.....


The digital onboarding facility is currently available for DCB Zippi Online Fixed Deposit, which is fully contactless, online and automated Coronavirus pandemic has led to many digital innovations and banking sector is not left out. DCB Bank has launched a virtual video booth facility for contactless onboarding of new customers. This enables any Resident Indian to apply for DCB Bank Fixed Deposit through video-based KYC without visiting the branc…


The ban on 59 Chinese apps appears to be generating a vigorous response from Indian entrepreneurs — many from smaller towns — keen to fill the void. The Indian Android app ecosystem has witnessed a stream of new entrants after the Chinese apps were banned on June 29 over security concerns in the wake of rising border tensions between the two countries. Young developers from places such as Solapur in Maharashtra and Gir Somnath village…


BofA says the RBI will not only cut rates now, but will follow it up with another 75 bps cut in rest of the financial year 2020-21 (FY21) As the Reserve Bank of India’s (RBI’s) Monetary Policy Committee meets on Thursday to take a call on whether to cut or pause rates, Bank of America Merrill Lynch (BofA) has cited several reasons why the central bank might opt for a 25 basis points cut. Interestingly, a Business Standard poll of 10 e…


Amid rising coronavirus cases and the world still waiting for a vaccine, food brands today are riding the wave of 'immunity boosting products' led by consumer demand The beverage company Coca Cola recently made its foray into the immunity space by launching two new variants under its Minute Maid brand - Vita Punch and Nutri Force.   Minute Maid Vita Punch is a fruit cocktail that claims to provide daily requirement of Vitamin …


In the regular drumbeat of arrests of alleged Chinese spies, one case last month stood out.It did not involve the United States or another rival of China, but Russia, whose security services accused a prominent arctic scientist of selling classified data on technologies for detecting submarines.Meanwhile a court in Kazakhstan in October convicted the Central Asia nation’s preeminent China specialist of espionage, a move widely interpreted a…


Coca-Cola India and Byju’s are among companies that may bid for the title sponsorship of this year’s Indian Premier League (IPL) after Chinese phone maker Vivo pulled out from the cricket tournament, two people familiar with the development said. Vivo’s exit was triggered by calls for a boycott of Chinese goods after a deadly border clash between Indian and Chinese troops in June. The Board of Control for Cricket in India (BCC…


Production and sales of motor vehicles and motorcycles continued to post double-digit decline in the first half as operations were affected by the coronavirus disease 2019 pandemic. Data from the Association of Southeast Asian Nations Automotive Federation (AAF) showed motor vehicles assembled in the Philippines reached 27,919 units in the first semester – 31.3 percent lower than the 40,626 units in the same period last year.


ByteDance founder Zhang Yiming told employees on Tuesday (Aug 4) there were misunderstandings on Chinese social media about TikTok's situation in the United States and that the company could face more difficulties as anti-Chinese sentiment rose abroad. His comments in a letter to ByteDance's Chinese employees came after the company and Zhang were heavily criticised on Chinese social media for entering into talks with Microsoft to sell TikTok…


Stricter quality norms, more import licences among options; domestic MSME needs, WTO rules to be kept in mind To check the inflow of non-essential imports, primarily from China and Hong Kong, the government will focus on non-tariff barriers (NTBs) that are mainly a mix of stricter quality standards, such as mandatory certification requirement from the Bureau of Indian Standards, and imposition of import licence restrictions, according to officia…


The country will back candidates in favour of having a global trade facilitation pact for services, ensuring food security in poorer nations, and committing to talks on developmental issues India has spelt out terms for backing the next head of the World Trade Organization (WTO), with the race to helm the UN body heating up. The country will back candidates in favour of having a global trade facilitation pact for services, ensuring food security …


Some of the recent and significant prior defence sales are to include the MH-60R Seahawk helicopters (USD 2.8 billion), the Apache helicopters (USD 796 million), and the Large Aircraft Infrared Countermeasure (USD 189 million) The US is looking to ramp up arms sales to India, including those of armed drones that can carry over 1,000 pounds of bombs and missiles, said a media report, noting the "new push" comes following the violent clashes in J…


In-home snacking trend is likely to help accelerate demand for its newly-launched choco bakery category comprising cookies and cakes   The local arm of packaged foods company Mondelez, which sells the popular Oreo cookies and Cadbury Dairy Milk chocolates in India, witnessed unexpected growth in biscuits sales, while demand for chocolates and confectionery slumped with the lockdown curbing out-of-home and on-the-go consumption of such produc…


US President Donald Trump's ban on federal agencies employing H-1B visa holders will have little impact on India's IT industry, as most software services providers hire local employees to service government customers, according to industry experts. Paul Herzog, an immigration attorney, tweeted on Tuesday that the order on H-1Bs was a “nonbinding recommendation to agencies to prioritise hiring of Americans when contracting, which they largel…


Given the severe backlash, the Chinese phome maker may back out of the deal with BCCI Chinese mobile maker Vivo is set to pull out as the sponsor of this year’s Indian Premier League after facing severe backlash. While there was no official confirmation by Vivo or the BCCI, sources close to the company said that the deal is being re-evaluated given the overall India-China stand-off.....


Shares of HDFC Bank NSE 4.36 % jumped 5 per cent after the search for the new head of the lender came to an end and the Reserve Bank of India (RBI) also approved his name.HDFC Bank in a regulatory filing said the RBI has approved the appointment of Sashidhar Jagdishan as HDFC Bank CEO for a tenure of three years starting October 27. A board meeting will also be convened in due course to approve his appointment. Jagdishan will succeed fabled banke…


The BMC said all essential shops which were allowed to remain open earlier shall continue to do so whereas all non- essential markets, market areas and shops will remain open from 9 am to 7 pm. In a major relief for Mumbaikars, the Brihanmumbai Municipal Corporation (BMC) said all shops in the city will be allowed to remain open all days from Wednesday irrespective of the odd-even rule. Under the rule, shops on one side of the road…


Blue-collar jobs are gradually returning, with the top metros leading the uptick in hiring. IT-enabled services (ITeS) companies are expected to hire security, cleaning and maintenance workers, emerging as the biggest employer of blue-collar workers in Bengaluru, while logistics will lead hiring in Delhi-National Capital Region, according to a survey by online marketplace OLX group. In Mumbai, ITeS and logistics will remain top employers, …