After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said.
Google, in its latest appeal to the Supreme Court, has said the Competition Commission of India (CCI) is protecting Amazon's interests after having complained that India's anti-competition body (CCI) had copied part of a European Commission ruling against it for allegedly abusing the market dominance of Android. The latest twist to the Google-CCI case comes as Google filed an appeal in the Supreme Court on June 26, against the National Company Law Appellate Tribunal's (NCLAT's) March 29 order. The tech giant's contention is that the NCLAT failed to apply the "effect analysis" part in the CCI order.
Amid fast-depleting forex reserves, the Finance Ministry on Wednesday signalled that it was not in favour of selling the dollar to defend any particular level of the rupee. "Let it (rupee) reach whatever levels it has to reach. We can't fritter away reserves on defending some artificial, imaginary rate of exchange," a senior finance ministry official told Business Standard. Forex reserves declined to a near two-year low of $545.65 billion as on September 16, down $85.88 billion from the level that existed on February 25, a day after Russia invaded Ukraine.
Telecom gearmaker Nokia will boost its manufacturing capacity in India by 1.5x over the next few years to support the 5G services roll-out, said Tarun Chhabra, the company's country head of mobile networks business. Nokia is supplying network equipment to Bharti Airtel and Reliance Jio for their 5G networks from its plant in Chennai. Vodafone Idea is yet to finalise its contract as it awaits fresh funding.
Breaking the streak of continuous fall in outstanding amounts, non-resident Indian (NRI) deposits rose for the first time in the financial year to $134.54 billion in October 2022. The figure was $133.67 billion in September. Reserve Bank of India (RBI) data showed that NRI deposits were in shrinking mode for the first six months of FY23. They fell to $133.67 billion in September from $139 billion in March.
Online video platform YouTube's ecosystem has contributed over Rs 10,000 crore to India's GDP and supported more than 7.5 lakh full-time equivalent jobs in the country, according to a report. In India, over 4,500 channels had over 10 lakh subscribers and the number of YouTube channels in India making Rs 1 lakh or more in their annual revenue increased by over 60 per cent year-over-year in 2021, the YouTube Impact Report based on analysis by Oxford Economics said. "YouTube's creative ecosystem contributed over Rs 10,000 crore and supported more than 7,50,000 full-time equivalent jobs in the Indian economy in 2021. "That economic impact shows up in four ways, through direct, indirect, induced, and catalytic impacts," the report said.
The digital platforms are responsible and accountable for ensuring the safety of 'digital nagriks', the minister said, adding that the government will respond to every instance of alleged misuse or alleged breach of users' privacy.
The "asset-right" strategy, reiterated by ITC chairman Sanjiv Puri during the company's 112th annual general meeting (AGM) on August 11, received a thumbs up from the analysts. They, however, believe that sustained earnings growth and synergies with the demerged hotel's vertical will help the stock break out from the ongoing consolidation. "The stock is expected to consolidate between Rs 420 and Rs 450 in the near future.
Oil producers cartel OPEC's share in India's oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organization of the Petroleum Exporting Countries (OPEC) nations, mainly in the Middle East and Africa, had a 72 per cent share of all crude oil India imported in April 2022. This share slid to 46 per cent in April 2023, according to energy cargo tracker Vortexa.
In its notice, the panel said it had taken sou-moto cognisance of a video posted online on Twitter which showcased a Clubhouse conversation on the topic 'Muslim gals are more beautiful than Hindu gals'.
The country's foreign exchange reserves rose by $2.865 billion to a record high of $592.894 billion for the week ended May 21, boosted by gold and currency assets, RBI data showed on Friday. The previous all-time high for the forex kitty was $590.185 billion for the week ended January 29, 2021. For the previous week ended May 14, the reserves had increased by $563 million to reach $590.028 billion.
The country's foreign exchange reserves rose by $563 million to reach $590.028 billion in the week ended May 14, RBI data showed on Friday. The reserves had touched a lifetime high of $590.185 billion in the week ended January 29, 2021. In the previous week ended May 7, 2021, the reserves had increased by $1.444 billion to $589.465 billion.
On Monday, the ministry issued two orders, one directing video sharing platform YouTube to block the 20 channels and the other, for blocking of the news websites.
The country's foreign exchange reserves declined by a massive $6.24 billion to reach $583.945 billion in the week ended February 5, RBI data showed on Friday. In the previous week, the reserves had touched a record high of $590.185 billion after rising by $4.852 billion. In the reporting week ended February 5, the decline in the forex kitty was mainly on account of a fall in foreign currency assets (FCAs), a major component of the overall reserves.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
The Delhi Police has sent a notice to micro-blogging site Twitter seeking details about steps taken by it against circulation of child pornographic content on its platform, officials said.
If you were one of those waiting for the entire fourth season of Succession to drop so that you could binge-watch it over a weekend, you have missed the train.
The ED probe into alleged money laundering by crypto exchange WazirX and the subsequent squabbling among its promoters has revealed the 'darker side' of cryptocurrencies, a top government source said on Thursday. The source added that people should exercise caution in absence of a regulation to govern cryptocurrencies and so-called exchanges trading in them. "Caution is the word that should be in the minds of the people dealing with crypto. "In the episode of WazirX, people got to know many darker sides, caution is necessary in crypto transaction," the source said.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
The National Company Law Appellate Tribunal on Wednesday declined to grant interim relief to Google seeking a stay on competition watchdog CCI's penalty of Rs 936.44 crore on the tech giant for abusing its dominant position with respect to Play Store policies. The appellate tribunal has directed Google to deposit 10 per cent of the fine before its registry in the next four weeks. A two-member bench comprising Justice Rakesh Kumar and Alok Srivastava issued notices to the Competition Commission of India (CCI) and other respondents and posted the matter for hearing on April 17, 2023.
Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to $23.3 billion in 2022, which is the lowest since 2019, when it was $15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to $23.3 billion -- the lowest annual inflows since 2019 when it was a low $15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights.
Soccer governing bodies FIFA and UEFA had decided together that all Russian teams, whether national or club sides, be suspended from participation in FIFA and UEFA competitions until further notice after Moscow's invasion of Ukraine.
The Organization of the Petroleum Exporting Countries (Opec) and its partners, such as Russia, collectively termed Opec+, have decided to cut crude oil production by 100,000 barrels per day (bpd) from October onwards, at a meeting on Monday. In a step that may increase prices in India, the group has decided to reduce output quotas for October, after a fall in global oil demand outlook. The cut in output is equal to 0.1 per cent of global supply.
As the RBI moves ahead for the launch of the central bank digital currency (CBDC), Governor Shaktikanta Das on Wednesday marked out cyber security and digital frauds as the main challenges in the new system. Deputy Governor T Rabi Sankar said there are two types of CBDCs - wholesale and retail - and a lot of work has happened in the former while the latter was termed as a "complicated" aspect which will take time. The RBI had earlier this year announced that it has started work on the CBDC, in line with other major central banks of the world which are looking at a fiat digital currency.
Meta-owned Facebook 'actioned' about 21.6 million content pieces across 13 violation categories in India during March, according to a monthly report by the social media giant.
The Twitter handle @kooeminence was suspended on Friday, a development that came in the wake of billionaire Elon Musk-owned Twitter suspending the accounts of several prominent global journalists, including those from the New York Times, CNN and Washington Post.
A Delhi court has taken a serious view of the practice of service of summons on witnesses through WhatsApp by police personnel and said the officials do not seem to have respect for superior orders.
The government has identified nine key focus areas in the AI national programme, including agriculture, education, Indian languages, smart cities, cybersecurity, transportation, and finance.
Bharti Airtel and Tata Group on Monday announced a strategic partnership for implementing 5G network solutions for India. Tata Group has developed "O-RAN (Open Radio Access Network) based Radio and NSA/SA (Non-Standalone/standalone) Core and has integrated a totally indigenous telecom stack, leveraging the Group capabilities and that of its partners", according to a joint statement. This will be available for commercial development starting January 2022.
Comedian Kathy Griffin's became the first casualty of the move as her account got suspended.
'If Threads doesn't become a distinct identity, and just a text version in the shadows of Instagram, then it may fizzle out.'
The Competition Commission of India has ordered a probe into complaints against Google for allegedly abusing its dominant position in the online news market.
India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said.
Over 23.87 lakh Indian accounts were banned by WhatsApp in July.
Indian telcos have been able to garner over 20 million 5G customers in less than four months after the official launch of the service last October, according to industry estimates. With telecom operators like Reliance Jio and Bharti Airtel aggressively rolling out their 5G services in over 190 cities across the country to date, India is now only behind China and the US in terms of the number of cities in a country where 5G services have been extended. Top executives in telcos say that the number of 5G subscribers in India is a conservative estimate and that it will rise as the roll-out gains momentum.
Russia were scheduled to host Poland in a men's World Cup qualifying playoff on March 24, with the winners set to play Sweden or the Czech Republic five days later. All three teams had refused to play against Russia.
Facebook's parent company Meta announced on Tuesday it will fire another 10,000 people, implementing a second round of jobs cuts after it slashed 11,000 positions in November last year, to improve its financial performance in a "difficult environment". Meta founder Mark Zuckerberg said in a post that overall "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired." The company has said that in its "Year of Efficiency", the company aims to make itself "a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision."
The Central Board of Direct Taxes (CBDT) has issued detailed guidelines on facilitating tax deducted at source (TDS) on virtual digital assets (VDA) or crypto assets, under which date of transfer and mode of payment will have to be specified. From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the income tax (I-T) Act. The department has explained different scenarios through six questions to remove difficulties.
Following up first doses of the AstraZeneca or Pfizer vaccines with second doses of the Moderna or Novavax jabs generates robust immune response against COVID-19, according to a study published in The Lancet journal.
The Delhi Police has registered a first information report (FIR) against Twitter for allegedly allowing access to child pornography on the microblogging platform on a complaint by the National Commission for Protection of Child Rights (NCPCR), officials said.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances