The Manohar International Airport in North Goa on Monday announced a direct Indigo flight service to Abu Dhabi International Airport (AUH) thrice a week, starting September 2. A senior official of the airport operator GMR Goa International Airport Limited (GGIAL) said that the inaugural Indigo flight to Abu Dhabi from Manohar International Airport is scheduled for Saturday, September 02, 2023...
Business
US raises concerns on India’s decision to impose import curbs on technological devices
With the US flagging concerns over India’s decision to impose import restrictions on certain electronic devices, both countries have agreed to find a solution to the issue that addresses the concerns of both nations, according to a statement of USTR. The issue was flagged during a meeting between Commerce and Industry Minister Piyush Goyal and US Trade Representative Katherine Tai...
Qatar sovereign wealth fund to invest $1bn in Reliance Retail Ventures
Qatar’s sovereign wealth fund is set to invest $1bn in Indian billionaire Mukesh Ambani’s retail unit,valuing the shopping company at $100bn, in the latest sign of Gulf investors’ deepening exposure toIndia’s fast-growing economy.The $450bn Qatar Investment Authority would take a 0.99 per cent stake in Reliance Retail VenturesLimited, the Reliance Industries subsidiary announced on Wednesday.“QIA is committed to supporting innovative...
Rupee surges 25 paise to 82.47 against US dollar
The rupee registered the highest single-day gain in nearly two months and surged by 25 paise to 82.47 against the US dollar in early trade on Thursday amid a weakening dollar, foreign funds inflows and positive equity markets. According to reports, the rupee’s sharp gain of 52 paise in the past two sessions was attributed to Reserve Bank of India’s...
India’s GDP growth in Q1 FY24 to touch 8.3% as compared to RBI’s estimate of 7.8%:
India’s GDP growth in Q1 FY24 will stand at 8.3 per cent as compared to the Reserve Bank of India’s (RBI) estimate of 7.8-8.0 per cent, noted the latest State Bank of India’s Economic Research Department’s report, SBI Ecowrap. The report added that total FY24 growth will be higher than 6.5 per cent. The International Monetary Fund (IMF) had...
Jio Financial Services Hit 5% Lower Circuit On Its Maiden Trading Day
Jio Financial Services, the demerged financial services unit of Reliance Industries, had a volatile market debut on Monday. Shares of Jio Financial Services hit the lower circuit after slipping 5 per cent to a low of ₹ 248.90 apiece. On BSE, the company’s shares were trading 5 percent lower at 251.75 apiece at 1:53 PM. Jio Financial Services Ltd (JFSL) demerged from...
Rupee falls 1 paisa to hit new all-time low of 83.09 against US dollar
The rupee pared its initial gains and settled for the day lower by 2 paise at an all-time low of 83.10 (provisional) against the US dollar on Thursday, weighed down by a strong greenback overseas and a negative trend in domestic equities. Forex traders said rupee is likely to trade with a negative bias on risk aversion in global markets...
Economy gathering momentum in Q2, inflation remains concern: RBI
Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank’s comfort zone of 6 per cent, said an article in the RBI’s monthly bulletin released on Thursday. The consumer price index (CPI) based retail inflation shot up significantly to 7.44 per cent in July, from 4.87 per cent in the preceding month, mainly due...
Adani Power shares drop on report promoters sell 8% stake to marquee global fund
Shares of Adani Power plunged 4 per cent in Wednesday’s trade, only to recover someof the lost ground amid a media report suggesting a promoter entity likely sold sharesin a block deal to a marquee global fund.As per the report, a total of 8.1 per cent of the company’s total equity changed handsvia block deals. The bulk and block deal...
After rebranding Twitter to X, Elon to auction blue bird logo
Twitter is long gone, welcome X. That’s Elon Musk’s vision for the social media company moving forward. It appears Musk truly wants to move away from the company’s old identity under Jack Dorsey and later Parag Agrawal’s leadership. Under his watch, he wants nothing to do with Twitter, but it’s all about X. Recently, the company temporarily placed a giant...
World entering a highly disruptive green energy era, Ambani
Reliance Industries (RIL’s) annual report released on Sunday highlighted the company’s focus on new energy solutions, with Chairman and Managing Director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders’ approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which...
SBI Q1 results Profit surges 178% to Rs 16,884 crore;
Limited (SBI) on Friday reported a 178.24 per cent year-on-year (YoY) rise in standalone net profit at Rs 16,884.29 crore for the June quarter compared with Rs 6,068.08 crore in the same quarter last year. This was the record net profit for the fourth quarter in a row. The profit figure also came in better than the 120-160 per cent...