China has plenty of room to manoeuvre to attain its annual target for robust economic growth of about 5% after a strong start for the year, top economic officials said on Wednesday, though they acknowledged it’s a challenge. China’s exports rose about 10% in the first two months of the year from a year earlier, … Read more
Car wholesales remained strong in February as the industry races to a record 42-lakh-plus mark for first time in a financial year in 2023-24. All top players, including Maruti Suzuki, Tata Motors and Mahindra & Mahindra, despatched healthy numbers to retail outlets as industry inventory remains at moderate level of around a month of sales. … Read more
Byju Raveendran, founder and CEO at troubled edtech startup Byju’s hit out at a group of investors, stating that their move to disable the company from using the funds raised through the rights issue has hindered disbursement of salaries to employees. “….I regret to inform you that we will still be unable to process your … Read more
Asian share markets firmed on Monday as the Nikkei reached another new high and investors braced for a week packed with central bank events and major data that will refine market wagers for when interest rates will start falling. All eyes will be on Federal Reserve Chair Jerome Powell when he testifies before lawmakers on … Read more
Tata would make a “very, very big investment” in electronics and semiconductors and it would announce the fab, a specialised factory for production “very soon” to produce “multiple nodes”, Tata Sons chairman N. Chandrasekaran said in Chennai on Wednesday. Delivering the 20th Anantharamakrishnan Memorial Lecture, after receiving the MMA-Amalgamations Business Leadership Award 2023, Mr. Chandrasekaran … Read more
\RBI has penalised three major lenders – SBI, Canara Bank, and City Union Bank – for violating RBI norms. These fines come after an inspection of their books as of March 2022. SBI has been fined Rs 2 crore for holding shares exceeding 30% of certain companies’ paid-up share capital, violating RBI regulations, and for … Read more
Temporary food shocks, fiscal consolidation and high real interest rates have created the scope for reduction in policy interest rates, said external members of the Monetary Policy Committee, but those from the Reserve Bank of India (RBI) believe that the markets are running ahead of policy makers. Prof. J.R. Varma, who voted for a reduction … Read more
New Delhi: The Directorate of Enforcement (ED) has asked the Bureau of Immigration (BOI) to issue a look out circular (LOC) against Byju Raveendran, founder and CEO of the eponymous, embattled edtech company Byju’s, people with knowledge of the matter told ET. The central agency approached BOI earlier this month to issue a fresh LOC … Read more
In a move that will help Food Corporation of India (FCI) to reduce its borrowings from banks and save around Rs 750 crore annually, govt on Friday increased authorised capital of the corporation from Rs 10,000 crore to Rs 21,000 crore. This move will also reduce the overall food subsidy. FCI is responsible for procurement … Read more