The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on Tuesday as she launched a blistering attack on the Congress for handing over airwaves used by the defence to the private firm for pittance. "It is a fraud of Congress, by Congress (and) for Congress," the minister told reporters as she read out paragraphs from the Supreme Court's January 17 decision allowing winding up of Devas Multimedia because of the fraud.
The WTO's quarterly outlook indicator, comprising seven trade parameters, stood at 96.3, the lowest since March 2010 and down from 98.6 in November. Exports from India would be hit if there is a slowdown in world trade.
It is estimating that this would help monetise assets worth Rs 10,000 crore.
The president and First Lady Melania Trump will travel to New Delhi and Ahmedabad during the visit.
On Tuesday, Pompeo and Esper will hold the 2+2 talks with External Affairs Minister S Jaishankar and Defence Minister Rajnath Singh, covering the entire expanse of defence and security ties as well as key regional and global issues.
Known for its phones and emerging from nowhere in the segment, it might take on the scooter Goliaths.
Around four lakh people who attended the event were treated to a spectacular flying display of fighter, civilian aircraft and helicopters.
In December 2019, the India arm of Deloitte Touche Tohmatsu surprised many with its ultra-competitive bid to become the transaction advisor for the country's largest strategic divestment in Bharat Petroleum Corporation (BPCL). The multinational major quoted just Rs 1; the second-highest bidder, SBI Caps, reportedly quoted Rs 15-17 crore. For Deloitte, the motivation was to bag a prestigious deal adding a national energy company to its portfolio. No doubt, it expected BPCL to go to a marquee buyer in quick time.
Stating that growth impulses and the fast-moving indicators are strong, Reserve Bank Governor Shaktikanta Das on Wednesday exuded confidence of the economy clipping at the projected 9.5 per cent this fiscal. Giving all the credit for the faster-than-expected recovery of the economy to the government, Das said the central bank has only been supporting the government in reviving the economy ravaged by the pandemic. Citing a slew of measures the government has taken since the pandemic struck in March 2020, the governor specifically mentioned tax cuts on fuels, tax resolution for the telecom sector, annulling of the retro tax legislation, sale of Air India, plans to sell some of the public sector banks and PLI scheme as the major reforms and growth-drivers bearing fruits now.
"I've had a great relationship with India and Prime Minister Modi. We've been friends. And I think he's a great guy and doing a terrific job. It's not an easy job he's got... We've known each other a long time. Good man," said Trump, who enjoyed a close relationship with Modi during his presidency from 2017 to 2021.
Jet Airways is keen to improve its market share
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
The neighbouring cities of Faridabad (469), Greater Noida (464), Ghaziabad (470), Gurgaon (472) also recorded 'severe' air pollution levels.
Low-cost carriers SpiceJet, IndiGo and GoAir have cut fares sharply, just a week after they abruptly raised these following a 20 to 25 per cent slump in sales.
A consortium led by Ajay Singh is initially expected to invest Rs 1,200 cr, largely to cover liabilities.
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
The MoD did not reveal the number of missiles procured through the latest contract.
However, this information was inadvertently revealed through an official MoD photograph that accompanied the announcement.
The Trump administration has been very clear that the acquisition of advanced Russian technology sends the wrong message to Russia at a time when it continues its aggressions, the official said.
'There will be much for President Trump and Prime Minister Modi to discuss including growing Chinese military cooperation with Pakistan, which heralds a new attempt by China and Pakistan to neutralise India's influence in its Indian Ocean neighbourhood,' notes Ambassador G Parthasarathy.
Like on Pegasus, like Covid, there have been no answers from the government about why the situation on the economy and India's future is where it is today, notes Aakar Patel.
Domestic budget carriers SpiceJet, Indigo and GoAir have rolled out another sale offer with fares starting from Rs 1,699 for a limited period on domestic routes.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
"Tata Sons board is meeting tomorrow (Friday) to consider the proposal to bid for Jet Airways," people in the know of the development told PTI.
'Since the growth is not fast enough to provide jobs for the young, the fallout will be political and social,' warns T N Ninan.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
German luxury carmaker Audi on Thursday launched a new version of its flagship SUV Q7 in India with prices starting at Rs 79.99 lakh (ex-showroom) as it seeks to further accelerate growth in the country. The locally assembled vehicle is powered by a 3-litre petrol engine with a 48V mild-hybrid system generating 340 hp. It can accelerate from 0-100 km/hr in 5.9 seconds. The new Q7 will be available in two variants -- Q7 Premium Plus and Q7 Technology -- priced at Rs 79.99 lakh and Rs 88.33 lakh (ex-showroom), respectively.
Toyota, M&M and Honda are making tough adjustments to their growth plans as uncertainty over diesel vehicles and fuel emission norms rises
T N Seshan believed that toughness at every level is needed to keep the flock under him strictly duty bound, recalls Dr K S Parthasarathy, former secretary, Atomic Energy Regulatory Board.
For debt-laden Jet Airways, bitter foe Tata may turn into timely saviour.
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
Mamallapuram's Group of Monuments -- a collection of 7th- and 8th-century religious structures -- attracted 46 per cent of the total foreign tourists who visited India compared to 12 per cent by the Taj.
'In China there is capital punishment for heritage theft. That is how they treat criminals, unlike us.' 'Here we treat them like it's a house-breaking theft.'
People visited their kith and kin, exchanged festive greetings and sweets while social media, including the likes of WhatsApp, Facebook and Twitter, was flooded with Diwali messages as many took the virtual route to convey their wishes.
There has been a considerable drop in India's dependence on arms and equipment from Russia but the Indian military cannot operate effectively without Russian-supplied equipment and will continue to rely on its weapons systems in the near and middle terms, a Congressional Research Service report has said.
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
A weak margin outlook in the near term and lack of fresh triggers may keep the Godrej Consumer Products (GCPL) stock under pressure. The stock, after tepid September quarter (Q2) results and marginal downward revision in earnings estimates, declined 3.5 per cent in trade on Friday. Though consolidated sales of the company, which owns the Goodknight and Cinthol brands, grew 8.5 per cent year-on-year (YoY), its operating profit declined because of the sharp contraction in margins.
After the August 10 deadline, South American conglomerate Synergy Group Corp reportedly evinced interest in the airline, forcing the RP to seek lenders' nod to extend the deadline to August 31. The Synergy Group owns a majority in Colombian carrier Avianca Holdings, which has a codeshare partnership with the state-run Air India.
In the year to date, 61 PSUs have lost an average of 22 per cent, with five companies losing more than half their share value. The BSE PSU index is down 10.6 per cent.
