The views in India's Monetary Policy Committee have become louder with outgoing members Ashima Goyal and J R Varma warning about the risks of a 'higher-for-longer' interest rate approach to economic growth. Both members voted for a repo rate cut, citing concerns over excessive monetary tightening's impact on growth.
Two dissenting members of the Reserve Bank of India's monetary policy committee, Prof Ashima Goyal and Prof J R Varma, argue that keeping policy rates high may hinder economic growth. They advocate for a 25 basis points cut in the repo rate and a shift to a neutral stance. The majority, however, remain cautious due to concerns about persistent food inflation and its impact on overall inflation. Governor Shakti Kanta Das and other members believe the current policy rate is balanced, aiming to moderate... Читать дальше...
Hindalco is currently evaluating a nearly 200,000 tonne-brownfield expansion at its Aditya Aluminium smelter in Odisha, which will be substantially powered by renewable energy. The company also plans to expand its copper smelting capacity and is exploring setting up a brownfield facility in Gujarat to meet the growing needs of the country for this critical metal.
While Grover sought arbitration at the Singapore International Arbitration Centre, where a dispute regarding the shareholders agreement was already going on, BharatPe opposed SIAC arbitration on the grounds that the employment agreement specified arbitration at the Delhi International Arbitration Centre (DIAC).
Day two of the Democratic National Convention was held last night, and Michelle Obama, the former first lady, has stolen the show and left everyone in awe of her speech.
August 22, 2024, marks the celebration of Kajari Teej and Heramba Sankashti Chaturthi for Hindu devotees. Moonrise is at 8:44 PM and moonset at 8:29 AM the next day. Women in North India celebrate Kajari Teej, while Heramba Sankashti Chaturthi honors Lord Ganesha in his five-headed form.
A former co-star of Alexander's who has undergone significant life changes is supposedly of interest to Angelina Jolie. Jolie is attracted to the actor's personal development and their mutual dedication to parenthood, even if she and Brad Pitt are still divorcing.
The Supreme Court has ruled that imposing excessive bail conditions negates the relief granted by bail. The court recognized the difficulty faced by the petitioner in securing multiple sureties and directed a simplified procedure across states, balancing the need for sureties and the right to liberty under Article 21 of the Constitution.
American historian Allan Lichtman, known for accurately predicting U.S. presidential elections, will share his prediction for the 2024 presidential race between Donald Trump and Kamala Harris. Lichtman uses a 13-key system to evaluate factors favoring the incumbent party. He currently sees Harris leading, with Democrats only down in three keys.
Srivaru Motors is backed by NASDAQ-listed SRIVARU Holding Ltd in the United States and had introduced its maiden product -- an electric motorcycle PRANA in 2021 with a total capital infusion of USD 15 million, Ramasamy said during an interaction.
In its second version, the company tweaked the model to deliver pre-stocked items from other cities with a shorter delivery timeline. A senior company executive had earlier told ET that next-day deliveries did not solve customers’ hunger pangs.
The Dow Jones Industrial Average rose 41.7 points, or 0.10%, at the open to 40,932.23.
Jawaharlal Nehru Port (JNPA) is set to expand its container handling capacity to 10 million TEUs by April next year, announced Union Minister Sarbananda Sonowal. The port will also develop new liquid cargo berths under a Public-Private Partnership model, increasing its capacity to 11 MMTPA. Recent developments include the signing of MoUs, increased revenue from e-auctions, and the issuance of Letters of Intent to SEZ concessionaires. Additionally, a WhatsApp chatbot for local workforce development was launched... Читать дальше...
Gold traded flat at Rs 74,150 per 10 grams for the second day in a row in the national capital on Thursday, according to the All India Sarafa Association. However, silver prices firmed up Rs 200 to Rs 87,200 per kg against Rs 87,000 per kg in the previous close on Wednesday.
TVS Motor Company CEO KN Radhakrishnan expects the scooter segment to grow and comprise around 40 per cent of total two-wheeler sales. The newly launched Jupiter 110 is expected to strengthen TVS's market position. The company's scooter sales have grown with a 12 per cent CAGR, outperforming the industry's 8 per cent.
This follows the in-principle nod that the Naspers-backed fintech firm received from the RBI to operate as a payment aggregator, which allows it to onboard merchants onto its platform. In addition to the integration, PayU will introduce the Amazon Pay Later service on its offers engine platform.
The yacht, deemed unsinkable by its builders, was involved in a tragic incident where one woman, Lynch's daughter, remains missing. Lynch, who had recently celebrated his acquittal on fraud charges with his family and supporters, was among six people whose bodies were recovered by rescue crews following Monday’s disaster.
The civil aviation ministry has simplified regulations for seaplane operations, easing the certificate process and allowing non-scheduled entities to operate such services. These changes aim to boost seaplane operations under the UDAN scheme, enhancing regional air connectivity and stimulating tourism. Fresh Commercial Pilot License holders can now directly obtain seaplane ratings.
In another blow to Byju’s, the Supreme Court has once again refused to halt the insolvency proceedings against the embattled edtech startup. This and more in today’s ETtech Top 5.
The CBI accused Kolkata police of altering the crime scene in the case of a post-graduate medic's rape and killing at RG Kar Medical College, leading to a delay in the investigation. Senior doctors and the victim's colleagues suspected a cover-up, requesting videography, which raised concerns. Solicitor General Tushar Mehta highlighted the issue in the Supreme Court, while senior advocate Kapil Sibal defended the Kolkata Police's actions, stating everything was properly documented. The case garnered national attention and sparked protests... Читать дальше...
The Indian cement industry is planning a capital expenditure of around Rs 1.25 lakh crore for FY25 to FY27 to meet increasing demand, according to a report by CRISIL. This will add 130 million tonnes of cement grinding capacity. The sector’s credit profiles are expected to remain stable due to low capex intensity and strong balance sheets. Major players such as UltraTech and Adani Group are leading the expansion. The top five cement manufacturers held around 54 per cent of the market share in FY24... Читать дальше...
The Federation of All India Medical Association (FAIMA) has ended its 11-day strike protesting a medic's rape and murder in Kolkata. The Supreme Court advised doctors to resume work, assuring no adverse action. Several resident doctors' associations also ceased their protests following the court's appeal, welcoming increased hospital security measures.