If the United States has its way in the World Trade Organisation, Indians may soon be able to savour the famed Californian wine for a much lesser price.
The government also withdrew the five per cent VAT on compressed natural gas besides bringing back the VAT for tea, coffee and cocoa to five per cent from the proposed 12.5 per cent.
Housing demand has breached pre-COVID levels with 92 per cent year-on-year growth in sales during July-September period units across eight major cities, mainly on the back of stable prices, very low mortgage rates, property consultant Knight Frank India said on Monday. Releasing its India Real Estate Update for Q3 (July-September quarter) of the 2021 calendar year, the consultant reported that housing sales increased to 64,010 units from 33,404 units in the same period last year. In the previous April-June quarter, 27,453 residential units were sold. "The total residential sales of the top eight markets under review during Q3 2021, reached 104 per cent of 2019 quarterly average," the consultant said, adding that sales have breached pre-COVID levels.
The total premium income for the industry from the motor portfolio is around Rs 8,000 crore, and private vehicles account for about 65 per cent of the market.
With the launch of Tata AirAsia and Tata-SIA, the added capacity will bring down fares considerably, say observers.
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
Global rating agency Fitch on Tuesday said the imminent entry of Reliance Jio into the telecom space will see a likely 20 per cent fall in data tariffs, but will not have any impact on the credit profile of the top four incumbents in the medium term as their revenue is on an uptick on rising voice tariffs and improving regulatory environment.
These are untied loans, meaning SBI has freedom to use this money to lend. They also do not come with any conditions attached for lending to specific projects or programmes.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
The change in the Foreign Trade Policy means that jet fuel sold in India to international flights will be treated as physical exports and not attract most of the domestic tariffs.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
With palm oil having 55 per cent share in total edible oil imports, the National Mission on Edible Oil-Oil Palm (NMEO-OP) would ensure that farmers get all facilities, from quality seeds to technology to promote cultivation of palm and other oil seeds, he said. Modi made this announcement after virtually releasing the ninth installment of Rs 19,500 crore to 9.75 crore beneficiary farmers under the government's flagship scheme PM-KISAN.
The cut reflects changes in global prices of the two fuels since the last revision.
India's first consignment of mangoes to America via the sea route is expected to considerably reduce the retail price of the golden fruit in the US. From around $22 per 3.5 kg pack, Indian mangoes could now cost $10 -12 per pack.
Reliance Power's plans are to set up a 7,480-Mw project, which will be the largest gas-fired power project at a single location in the world.
Travel companies are expecting a heavy rush to the US following the withdrawal of curbs on fully vaccinated travellers from select countries, including India, on November 8. The move will benefit those holding long-term tourist, business, and work visas. Also, new and extra flights by Air India and American Airlines are expected to provide better travel options.
Oil companies on Wednesday slashed petrol and diesel prices by Rs 2, with effect from midnight tonight.
The country's largest lender, SBI on Tuesday said it has cut savings rate by 25 basis points, or 0.25 per cent, to 2.75 per cent on all deposits. The new rate will come into effect from April 15, 2020.
As fear grips the world, demand for protective gear used by health care professionals and citizens is on a rise. And, supply disruption from China has opened a window of opportunities for Indian medical device makers.
Telecom Regulatory Authority of India on Monday slashed termination charges by 33 per cent.
"Throughout our history we've learned this lesson -- when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden said addressing the joint session of the Congress in his first State of the Union.
Mahindra to replace ageing models with new ones, especially the popular XUV500.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
The political row had erupted after the National Democratic Alliance government inked the Rs 59,000-crore deal on September 23, 2016 to procure 36 Rafale jets from French aerospace major Dassault Aviation after a nearly seven-year exercise to procure 126 Medium Multi-Role Combat Aircraft for the Indian Air Force did not fructify during the Congress-led United Progressive Alliance regime.
A free and open aviation market, where the government keeps the interest of consumers higher than saving any airline.
"The initial supply price of Covishield for all government immunization programme, including India, has been the lowest", SII said.
The current crisis has forced the government to announce measures to ensure that India becomes self-sustaining for any kind of bulk drug. The government says India will not depend on any other country for vital key ingredients for drugs within six years, reports Sheela Bhatt.
A day after leading car makers Maruti Suzuki and Hyundai Motor decided to cut vehicle prices in the wake of a reduction in taxes, Mahindra Renault on Tuesday said its Logan sedan will be offered at a discount of Rs 60,000.
Petrol price had been cut 10 times since August 2014.
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
To explore options for capitalising on growth potential in entry-level luxury car segment.
On the itinerary: Luxury camping, tribal homestays, heritage cities.
By 2023, Vistara's hangars will house a total of 70 aircraft, up from the current 42.
Ajit Balakrishnan on learning from past technology revolutions.
It takes a while to get used to the constant and instant supply of power that is the case with EVs, and handling the S1 Pro when it takes a corner or makes a turn can be tricky, says Pavan Lall.
Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
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