ArcelorMittal on Tuesday said it has cut expenditure on research and development by 4 per cent.
The rupee weakened by 14 paise to close at a new lifetime low of 79.59 against the US dollar on Tuesday as a strong greenback overseas and persistent foreign fund outflows continued to weigh on investor sentiment. This comes a day after the RBI announced measures for international trade settlement in rupees. At the interbank forex market, the local unit opened weak at 79.55 against the greenback and witnessed an intra-day high of 79.53 and a low of 79.66.
Ahead of his crucial talks with Russian President Vladimir Putin in Moscow, Chinese President Xi Jinping said on Monday that his peace plan to end the raging Ukraine war takes into account the 'legitimate' concerns of all parties and reflects the broadest common understanding of the international community.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
China's population in 2022 -- 1.4118 billion -- fell by 850,000 from 2021, the National Bureau of Statistics (NBS) said.
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
President Ram Nath Kovind on Monday said that India has once again established itself as the world's fastest-growing economy. "Due to consistent endeavours, India has again emerged as one of the fastest-growing economies in the world. "GST collection has consistently remained above Rs 1 lakh crore during the last several months," President Kocind said while addressing both Houses of the Parliament at Central Hall ahead of the Budget Session. In the first seven months of the current financial year, the inflow of 48 billion dollars, the President said is a "testimony to the belief the global investor community has in India's growth story."
'They have got the advisory council, a CEO has been appointed finally, and they have made some headway on the term loan B.'
The prime minister will leave for the Indonesian city of Bali on Monday on a three-day visit to attend the summit that is expected to deliberate extensively on pressing global challenges including the Ukraine conflict and its implications.
Shinde also said that the Governor occupies a constitutional post and he should be careful about not offending anyone through his statements.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
New Delhi is the only Asian city listed.
An interview with Sridhar Ramaswamy,Senior vice-president, ads and commerce, Google.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
As India's diplomatic tensions with the Land of the Maple Leaf escalate, so do the anxieties of countless Punjabis.
Apple will next week open its first retail store in India, in signs of importance the iPhone manufacturer attaches to the world's fastest growing smartphones market. The company will open its first official store in Mumbai on April 18 and the second in Delhi on April 20. The company at present sells its products in India through exclusive Apple Premium Reseller (APR) stores, large format retail chains like Reliance Digital, Croma etc, mutli-brand retail stores and through e-commerce platforms.
Prime Minister Narendra Modi arrived in Bali on Monday for the G20 Summit and bilateral meetings on its sidelines with key leaders attending this annual conference of the world's major economies.
India should engage the world on the basis of its confidence in its identity rather than trying to please the global community as their "pale imitation", External Affairs Minister S Jaishankar said on Wednesday amid increasing Western pressure on the country to oppose the Russian invasion of Ukraine.
"All corona warriors deserve high praise," Kovind said in his televised address.
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
Global confidence in India has been restored, says Modi.
India has undertaken a number of structural reforms.
Trade between India and Indonesia stands at $20 billion.
The world today sees them (Pakistan) as the epicentre of terrorism, Jaishankar said.
The Navy chief said this part of the world had witnessed multiple forms of terrorism in recent years and few countries in the region had been spared.
Wrapping up his four-day state visit to the US, Prime Minister Narendra Modi on Friday asserted that a new and proud journey of India-US ties has begun and the world is watching the two great democracies strengthening their bond.
Iconic composer Ilaiyaraaja, celebrated athlete PT Usha, philanthropist Veerendra Heggade and screenwriter V Vijayendra Prasad Garu were nominated to Rajya Sabha on Wednesday.
Prime Minister Narendra Modi on Tuesday asserted that there is a "huge difference" between pre- and post-2014 India, saying the country is now moving ahead at an "unprecedented speed and scale" as he showcased the achievements of his term in power to the Indian diaspora in Indonesia.
'No Cold War should be reignited and no Ukraine-style crisis should be repeated in Asia'
Maharashtra Governor Bhagat Singh Koshyari, facing flak over his "Mumbai will have no money if the Gujaratis and Rajasthanis were to leave" remarks, on Monday apologised for the same.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
25 student suicides in 2023 at India's coaching hub Kota have revealed the mindboggling stress children confront every day, reports Prakash Bhandari.
From India's fight against COVID-19 to China face-off, Kovind spoke on several issues during the televised address.
Experts said the strain has not propelled a surge in cases like Omicron, but advised strict adherence to COVID-19-appropriate behaviour.
IT services major Infosys on Wednesday announced a new programme, wherein it will offer 500 job seekers the opportunity to complete a fully digital, online diploma course certified by Salesforce. The programme aims to prepare Americans for 21st century careers in the technology sector. Leveraging Trailhead, Salesforce's free online learning platform, the program will train these 500 American workers, free of cost, for roles at Infosys as Salesforce Certified Administrators and Salesforce Industries Developers, a statement said. The programme, targeting recent graduates from major universities, liberal arts colleges, and community colleges, will help Infosys to create a workforce prepared for the future, it added.
Twelve of the 21 economists polled doubted whether the government could roll out the tax before the next fiscal year begins in April.
World leaders declared that there can be no development if poverty and hunger persist.
