As many as 87 public sector servants in the United Kingdom, including a leading NRI financial wizard Zarin Patel, earn more than British Prime Minister Tony Blair, according to the first 'Public Sector Rich List' released on Friday.
'The size of the investments is important, but equally crucial is the number of jobs that these proposals create.'
A villager was killed and three others were injured in shelling by Pakistan in forward areas of Jammu and Kashmir's Poonch and Rajouri districts early Friday morning, prompting Army troops to retaliate. The shelling also caused significant damage to property, with many houses and hundreds of vehicles affected. The firing and shelling were directed at areas in Rajouri, Poonch, and Jammu districts, apart from Kashmir's Kupwara and Baramulla districts, overnight.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
Giving relief to the employees of loss-making public sector units, the government on Wednesday decided to continue supporting distressed public sector units in meeting their wage bills and other statutory payments.
In a significant change to regulations, oil and gas regulator PNGRB has proposed a new policy of how tariffs for pipelines carrying gas to users will be determined, and proposed charging city gas entities selling CNG and piped cooking gas to households at the lowest rates.
There is a reason this 11 year phenomenon is a rule as much as it is an observation. It speaks to the nature of man and what humans are like, explains Aakar Patel.
Lee Jae-myung's decisive victory in South Korea's snap presidential election marks a major political shift driven by public backlash against authoritarian, with significant implications for domestic reform and the future of the US-South Korea alliance, observes Dr Rajaram Panda.
A PIL has been filed in the Supreme Court seeking a direction to the Centre to cancel licences and not to grant new ones to Indian firms exporting arms and other military equipment to Israel, which is fighting a war in Gaza.
The Cabinet Committee on Economic Affairs will discuss the proposal to lift the ban on state-owned companies from investing in mutual funds in its weekly meeting on Thursday.
International consultants Hewitt Associates has said it is helping two foreign firms in bidding for PSUs put up for divestment and is engaged in due diligence for four private companies for M&As in financial, IT and commodities sector.
The new Congress-led government on Tuesday promised to 'revitalise' sick public sector units and strictly adhere to the roadmap laid out for divestment of public sector units in the Common Minimum Programme to be unveiled this week.
The Tiruchi unit of Bharat Heavy Electricals Ltd (BHEL) is considering four-five companies as candidates for acquisitions, its executive director, A V Krishnan, told Business Standard.
Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday as the Monsoon Session of Parliament gets underway next week with the united opposition set to corner the National Democratic Alliance government on issues ranging from the NEET paper leak case and railway safety.
Cooking gas or Liquified Petroleum Gas (LPG) price has been raised by Rs 50 per cylinder by distribution companies, Union Oil Minister Hardeep Singh Puri said on Monday.
The state of these public sector units is appalling and disinvestment or even closing some of them appears to be the only option to prevent exchequer from further bleeding.
Zetwerk Manufacturing, a $3.1 billion company in the contract manufacturing space, is planning to come up with an initial public offering within the next 15-24 months, a top company executive said on Saturday. The Bengaluru-based company aims to raise at least $500 million, targeting a valuation of around $5 billion.
'Over the next 12 months, it will be difficult to make 15 to 20 per cent return in the markets as the valuations appear stretched.'
India on Saturday announced plans to amend its nuclear liability law and set up a nuclear energy mission, a move that came ahead of Prime Minister Narendra Modi's likely visit to the United States.
The government has realised about Rs 3336 crore (Rs 33.36 billion) on account of divestment of public sector units as against a target of Rs 12,000 crore (Rs 120 billion) till this November, Lok Sabha was informed on Tuesday.
United States President Donald Trump has warned his Russian counterpart Vladimir Putin to end the 'ridiculous war' in Ukraine or face high tariffs and further sanctions.
Coal India, which is likely to hit the capital markets in October, "will be in the list of Fortune 500 the day it is listed on the stock exchange," the head of a government panel on public sector units said on Monday.
'If the BJP detoxifies the nuclear liability law, it will bring economic, environmental and, most of all, strategic benefits.' 'Let's keep our fingers crossed and hope that this Budget promise is met soon -- ideally, before Mr Modi heads to his first meeting with Trump 2.0,' observes Shekhar Gupta.
Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In a press release, UFBU's convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the Centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 486,800 crore and it was resolved at Rs 161,820 crore resulting in a loss of Rs 284,980 crore.
State-owned CIL on Thursday said that it has floated its maiden tender to import 2.416 million tonnes of coal to ensure adequate supply of the fuel to power plants in the country. The development assumes significance in the wake of the government making all efforts to build up stock of coal to avoid the reoccurrence of power outages which happened in April on account of shortage of the fossil fuel. "In a first ever, Coal India Limited (CIL) on Wednesday floated an international competitive bidding e-tender, seeking bids for import of 2.416 million tonnes (MTs) of coal," the company said in a statement.
Lakhs of employees of public sector banks continued their strike on the second day on Friday as well to protest against proposed privatisation of banks by the government impacting normal operation across the country. Shutters of branches across many parts of the country on Friday were down following the strike call given by the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW). As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals remains paralaysed due to the two-day strike ending later in the day.
These firms offer job security and lucrative salries.
"We do not have a presence there right now and will start operations by end of the third quarter of the next fiscal," said the bank's Chairman and Managing Director Bhaskar Sen.
Gandhi said farmers asked him during his Bharat Jodo and Bharat Jodo Nyay yatras about why they were not getting the benefit of loan waivers like billionaire industrialists or MSP (minimum support price) for farm produce.
Major recruiters, with double-digit offers at IIT campuses this year so far, include American Express, Barclays, BCG, Cars24, Deutsche Bank, Goldman Sachs, Google, Intel India, Meesho, Micron Technology, Microsoft, OLA, Oracle, Reliance, and Qualcomm.
The 'mediation' by the United States from behind the scene on the diplomatic track appears to be once again working, which calls on both Delhi and Islamabad to show restraint and pull back from a military confrontation, notes Ambassador M K Bhadrakumar.
The review will help all the banks find if there is any loophole.
Bessemer Venture Partners has closed $350 million in capital for its second dedicated India fund to back founders in the region, who build enduring companies.
Talks on global climate finance virtually ground to a halt last week at COP29, the annual United Nations (UN) Climate Change event in Baku, Azerbaijan, as the developed world, led by the European Union (EU), and developing countries including India, Brazil, South Africa, and a clutch of island nations and African countries faced a wide chasm between their expectations. This has raised doubts about whether an agreement can be reached this week or whether talks will spill over to COP30, to be held next year in Benem, Brazil.
Prime Minister designate Manmohan Singh on Thursday said the public sector units like the Oil and Natural Gas Corporation and Gail would not be privatised.
After the government shelved plan to sell out its entire stake in SIL, the Department of Heavy Industry had proposed a revival package of more than Rs 200 crore for revival of the company.
Pulbic banks have no reason to cheer Budget announcement.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
