Sri Lankan Prime Minister Mahinda Rajapaksa resigned on Monday, hours after his supporters attacked anti-government protesters outside embattled President Gotabaya Rajapaksa's office, leaving at least 78 people injured and prompting authorities to impose a nationwide curfew and deploy army troops in the capital.
Prime Minister Narendra Modi and chief ministers of states may soon have an in-person interaction on a common platform for the first time since 2019. The seventh meeting of the Governing Council of NITI Aayog is likely to be held in late June or early July, Business Standard has learnt from sources in the Centre and a state. While the date and other details are yet to be finalised, it is learnt that there will be a conclave of chief secretaries of states and Union Territories in Dharamshala, Himachal Pradesh, on June 14 and 15, which will decide the agenda of the Council meeting to be held at a later date.
The two-wheeler sector has been underperforming its peers on the volumes front for over five quarters now. Even in the March quarter, Bajaj Auto and Hero MotoCorp posted a 17-24 per cent YoY decline in volumes, the sharpest in the listed auto universe. The ongoing impact of frequent price hikes, all-time high fuel prices, and muted rural sentiment has led to the lacklustre showing by two-wheeler makers. What has aggravated the situation for two-wheeler companies, which get almost all their sales from the internal combustion engine or ICE-based units, is the traction for electric two-wheelers (EV).
The President had been moved out of his residence on Friday, in anticipation of Saturday's protests.
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL), a document detailing steps needed to complete India's biggest privatisation showed. Billionaire Anil Agarwal's Vedanta group as well as two US funds -- Apollo Global and I Squared Capital - had last year submitted initial bids to buyout the government's entire 52.98 per cent stake in India's third-biggest oil refiner and second-largest fuel retailer. Detailing the 'Next Step', the 'Brief Note on BPCL Disinvestment' said Transaction Advisor and Asset Valuer are to submit an inception report, bidders have to complete due diligence of the company and sale purchase agreement has to be finalised.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
On Monday afternoon, devotees at the Mumbai famed Siddhivinayak Temple were in for a surprise, when cops armed with machine guns cordoned off the temple and the surroundings to conduct a mock drill.
The generic products company had challenged the patent and secured a six-month exclusive right to sell a low-cost version of the $10.7 billion medicine in the US market after the expiry.
Sri Lanka's main opposition party Samagi Jana Balavegaya (SJB) on Monday said it is ready to lead the next government to bring stability to the bankrupt island nation as it grapples with political and economic crises and any resistance to the move in Parliament will be seen as a 'treacherous act'.
As tensions between the armies of India and China at the LAC show no sign of ebbing, both sides have significantly ramped up the presence of their troops.
India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13. "The export policy of wheat ... is prohibited with immediate effect...," the DGFT said. It also clarified that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
The Mazagon Dock Shipbuilders in Mumbai on Wednesday launched INS Vagsheer, the last of the six submarines under Project 75.
There is a secured system to tackle cyber attacks and there is a segregation of nuclear generation from the administrative segment, There is a secured system to tackle cyber attacks and there is a segregation of nuclear generation from the administrative segment, he said.
Sonia hit out at the BJP, saying the ruling party's "divisive agenda" has become a regular feature of political discourse in all states and that history is being "mischievously distorted" to add fuel to its agenda.
A greater payment security mechanism for power generation companies to ensure timely payouts for supply of electricity will be in focus in 2022 as stricter rules are on the anvil for 24x7 power supply amid discoms' outstanding dues at a whopping Rs 1.56 lakh crore. Mounting outstanding dues of distribution companies (discoms) to electricity generation companies (gencos) have been a perennial issue affecting the entire value chain in the power sector and are also a hindrance for the ambitious goal of 24x7 power supply across the country even when the payment for coal is made in advance. The situation persists despite the fact that discoms' dues become overdue after 45 days of generating bills and they also have to pay penal interest on the overdue amount in most of the cases to gencos.
India is pursuing sales to South East Asian countries that are wary of Chinese aggression, including Vietnam and the Philippines.
Indonesia, the world's biggest supplier of palm oil, said on Thursday it will lift a ban on exports from Monday, likely helping India and other importers. India annually imports around 13-13.5 million tonne of edible oils, of which around 8-8.5 million tonnes (around 63 per cent) is palm oil. Of this, 8-8.5 million tonnes of palm oil, 45-50 per cent comes from Indonesia and the rest from neighboring Malaysia.
'If he were to drop even one nuclear weapon on Europe, it would start a nuclear war that would destroy everybody.'
India abstained in the United Nations General Assembly on a draft resolution calling for Russia to be held accountable for violations of international law by its invasion of Ukraine and requiring Moscow to pay reparations to Kyiv for damages, loss and injury resulting from the war.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
Some Indian television channels claimed that the gangster had been wounded in a shootout in Karachi while others reported that the gangster had been detained in Quetta.
No major glitches in electronic voting machines were reported and the voting passed off peacefully with high security observed at the 3,360 critical booths in 493 locations where more than 25,000 police personnel, nearly 13,000 home guards and 100 companies of paramilitary forces were deployed, officials said.
The government wants to use the FDI victory impetus to clear the Companies Bill and those amending the banking and pension Acts.
Some members of a parliamentary panel looking into the issue of hate speech on Facebook on Monday expressed the view that whistle-blowers Sophie Zhang and Frances Haugen, who have flagged bias and lack of proper regulation on the social media platform, be called to depose before it, sources said.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan. NSE Nifty surged 157.90 points to 17,234.15.
Auto experts from CarJasoos will answer all your questions related to buying, selling or maintenance of new or used cars.
The overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
Tata Motors on Wednesday launched its Tiago EV with introductory prices for first 10,000 customers ranging between Rs 8.49-11.79 lakh
Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
Fairwork focuses on five principles of fair gig work: Fair pay, fair conditions, fair contracts, fair management, and fair representation.
Human Development -- a measure of a nation's health, education, and average income -- has declined for two years in a row.
China, Russia, Iran and international terrorism form the 'big four' set of security threats in an era of dramatic change, Britain's chief spy said in a rare public speech on Tuesday.
Five cities -- Delhi, Bengaluru, Kolkata, Hyderabad and Surat -- ceded their power of procurement and agreed to a different procurement model to operate state-run buses.
Homegrown e-Commerce major Snapdeal on Tuesday launched a new initiative to help sellers on its platform get easy access to working capital to help them expand their business further.
The President said he made the decision in consultation with European allies but added they may not be in a position to join the US in banning Russian energy imports.
The government's poor handling of the economic crisis where people currently endure long hours of power outages and scarcity of essentials has angered the public which planned country-wide protests on Sunday.
Size matters on the road. Small is not dominating India's car market any more. The share of cars priced up to Rs 5 lakh in the passenger vehicle market has fallen to 10.5 per cent in the first 11 months of 2021-22, compared with 26 per cent in 2018-19 (FY19), the lowest in four years, according to data from industry sources. Even the share of those in the price range between Rs 5 lakh and Rs 7.5 lakh has dropped to 32.4 per cent in the same period, from 34.9 per cent.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
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