Elon Musk’s use of illegal drugs was common knowledge among several current and former Tesla Inc. and SpaceX directors, the Wall Street Journal reported on Saturday. There was concern about the volume of Elon Musk’s illegal drug use and that he consumed drugs with some of his board members, the newspaper reported, citing people who...
The Biden administration on Thursday notified the US Congress on its proposed supply of 31 MQ-9B Predator long endurance drones to India, in a significant forward movement to firm up the mega deal that was announced during Prime Minister Narendra Modi’s visit to Washington in June last year. The Defence Security Cooperation Agency of the...
Adani Enterprises Ltd.’s quarterly profit more than doubled boosted by its portfolio of newer businesses. Shares jumped as much as 1.5%. The flagship firm of billionaire Gautam Adani’s empire posted net income of 18.9 billion rupees ($228 million) for the quarter through December, compared with 8.2 billion rupees in the year-ago quarter, according to an...
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014. The processing time of tax returns has been reduced from 93 days...
On the back of fast growth in new orders and production, India’s manufacturing Purchasing Managers’ Index (PMI) rose to a four-month high in January, a report released on Thursday showed. According to HSBC Flash India PMI data, the manufacturing PMI rose to 56.5 in January. In December last year, it had fallen to an 18-month...
The Indian economy is likely to achieve a growth rate of 7% in fiscal year 2025 aftergrowing at or above 7% in 2023-24, driven by resilient domestic demand despite risksand uncertainties in the global economic landscape, according to a review of theeconomy unveiled on Monday. It also said India can aspire to become a $7...
Billionaire Mukesh Ambani’s Reliance Industries Ltd. is heading for a record high as a confluence of bullish factors including the ongoing Red Sea crisis help the stock break out of a tight trading range that lasted well over two years. The shares climbed as much as 5.8%, the most since May 2022, putting India’s largest...
Prime Minister Narendra Modi will likely use India’s last budget before the elections to woo voters with new spending measures, while avoiding a fiscal deficit increase. The economy’s rapid expansion has led to a tax windfall for the government, helping it meet its goals of curbing the deficit. That means Finance Minister Nirmala Sitharaman, who...
Last week, Gautam Ashra, head of Kanji Pitamber & Co, a 103-year-old forex brokerage, got a buyout offer from a private equity firm. “I told them to wait; will think and let them know.” Firms like Ashra’s are in the spotlight in the backdrop of Mint Road’s ‘Draft Licensing Framework for Authorised Persons (APs) under the...
India’s stock market is booming, and its value has ballooned so much that it overtook Hong Kong’s on Monday, Bloomberg reported. The total value of shares on Indian exchanges hit $4.33 trillion at Monday’s close, compared to Hong Kong’s $4.29 trillion, according to data compiled by Bloomberg, making it the fourth largest stock market in the...