The Adani group will export the first coal from its Australian mining project this year, riding out a series of lawsuits and public litigation initiated by environmental activists. The groups Australian business arm Bravus Mining & Resources on Thursday said it has exposed the first of the coal seams for mining at the Carmichael mine in Australias Queensland province.
Reliance Industries Ltd will spend Rs 75K cr, or over $10 billion, on adding giga-size clean energy knowledge and manufacturing verticals to its diversified business empire over the next 3 years. The company will target to achieve costs that are lowest in the world to ensure affordability of our solar modules and enable at least 100 GW of solar energy capacity by 2030.
Reliance Jio, together with partners, has tested its 5G solutions in India and successfully demonstrated speeds of over 1 GBPS, RIL chairman Mukesh Ambani said on Thursday, adding its 'made in India' solution is globally competitive.
Insurance companies have settled 80 per cent or 15.39 lakh Covid-19 health claims amounting to Rs 15,000 crore as on June 22, an Irdai member said. Insurance players have received about 19.11 lakh Covid-19 health claims so far.
Reliance Industries chairman Mukesh Ambani on Thursday announced a series of new initiatives that the company is slated to undertake in its vision of achieving three-fold higher growth in the next five years. Addressing the company's 44th annual general meeting (AGM) virtually, Ambani said that RIL raised a record Rs 3.24 lakh crore in capital from stake sale in units, rights issue and asset monetisation.
With domestic retail fuel prices jumping to record high on rising international oil rates, India on Thursday pressed oil cartel Opec for 'affordable' oil price within a 'reasonable band' and that the producers should phase out production cuts.
The Karnataka high court on Thursday granted interim relief to Twitter India managing director Manish Maheshwari in connection with Ghaziabad assault video that surfaced on social media a few days back. The HC also directed Ghaziabad police that no coercive action will be taken against him. The Police can examine Twitter MD through the virtual mode, the HC order said.
Billionaire Mukesh Ambani on Thursday announced a Rs 75,000 crore investment in setting up four 'Giga' factories to make solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years.
Equity indices jumped on Thursday with the benchmark BSE sensex rising nearly 400 points led by gains in IT and banking stocks. The 30-share BSE index surged 393 points or 0.75 per cent to close at 52,699; while the broader NSE Nifty moved 104 points or 0.66 per cent higher to settle at 15,790.
Alphabet Inc's Google is forging a cloud partnership with Reliance Jio Infocomm Ltd, helping the country's biggest wireless carrier with tech solutions for its enterprise and consumer offerings as it plans to launch 5G services.
Wipro founder Azim Premji said the pandemic has made people realise the importance of public systems, not just in healthcare but also a system that emphasises social security, data collection and scientific research.
Twitter India's managing director Manish Maheshwari is expected to appear in person before the Ghaziabad Police on Thursday in connection with a probe related to the assault of an elderly Muslim man here recently, officials said.
To cement India's position as a preferred global outsourcing hub, the government on Wednesday liberalised guidelines for voice-based BPOs removing the distinction between domestic and international units, permitting interconnectivity between all types of OSP centres, reducing compliance burden and increasing operational flexibility for players.
Oil prices rose on Wednesday, with Brent climbing above $76 a barrel to its highest since late 2018, after data showed US crude inventories declined and reinforced views of a tightening market as travel picks up in Europe and North America.
India recorded a 38 per cent rise in its foreign direct investment (FDI) inflows on a year-on-year (y-o-y) basis, data released by government showed on Wednesday. Total FDI inflows stood at $6.24 billion in April this year as compared a total of $4.53 billion during the same period last year.
Moody's Investors Service on Wednesday slashed India's growth projection to 9.6 per cent for 2021 calendar year from its earlier estimate of 13.9 per cent, and said faster Covid vaccination will be paramount in restricting economic losses to June quarter.
Billionaire investor Warren Buffett said on Wednesday he was resigning from his position as trustee of the Bill and Melinda Gates Foundation (BMG), one of the world's largest private charitable organisations. Bill Gates and his wife Melinda, co-founders of the foundation, filed for divorce in May after 27 years of marriage but pledged to continue their philanthropic work together.
A UK high court on Wednesday rejected fugitive diamond merchant Nirav Modi's application to appeal against his extradition to India. Nirav Modi, accused of defrauding PNB of around $2 billion (Rs 14k cr), had lodged an appeal in the London high court last month. On April 15, 2021, UK home secretary Priti Patel had ordered the 50-year-old diamantaire be extradited to India.
Kotak Mahindra Bank has introduced a Pay Your Contact feature on its mobile banking app that allows customers to send money or make payments to any of their contacts across all payment apps simply by entering the beneficiarys mobile number.
Cash deposits of up to Rs 2.5 lakh by housewives post demonetisation will not come under I-T scrutiny as the Income Tax Appellate Tribunal (ITAT) has held that such deposits cannot be treated as income of the assessee.
State Bank of India (SBI) led a consortium of banks that sold Vijay Mallyas shares worth Rs 5,825 crore in United Breweries (UB) group to Heineken company on Wednesday and recovered around 70% of their Rs 9,900 crore defrauded loan money.
Got your jab and itching to travel? Though domestic airfares are rather high now, you could comfort yourself with a small discount offered by IndiGo, which on Wednesday launched a 10% discount scheme for its vaccinated customers. The catch is only limited inventory is available under the offer.
The share of the wealth held by the richest 1% in nations including the US, China, Brazil and India jumped in the fallout from the pandemic, fueled by efforts to curb the effects of the virus, according to Credit Suisse Group AG.
SoftBank Group Corp CEO Masayoshi Son said on Wednesday share buybacks remain an option, amid a slide in the conglomerate's shares. Buybacks are always on my mind as an important option but when and how big requires balanced thinking, Son said at SoftBank's annual shareholders' meeting, adding that the group also needs to consider alternative uses of its capital.
Flipkart is mulling a buyback of employee stock options (ESOPs) worth nearly $125 million, sources told TOI. If it happens, it will create many new dollar millionaires. The plan is part of a new funding round that the Walmart-backed company is in the midst of.
The draft rules, released for public comment on Monday, have proposed that e-tailers identify goods based on the country of origin at the pre-purchase stage and suggest alternatives to ensure fair opportunity to domestic goods. There are many customers who may want to buy domestic products. The focus of the proposed rules is to keep the consumer informed, said an official.
The European Union has submitted a draft declaration at the World Trade Organisation (WTO), ignoring the objectives of intellectual property (IP) waiver jointly sought by India and South Africa on Covid-19 drugs and vaccines.
New e-commerce rules will raise costs for all online retailers but particularly Amazon and Walmart's Flipkart as they may have to review their business structures, senior industry sources told Reuters.
Notwithstanding the Rs 10,000-crore liquidity infusion through the G-Sap route by the RBI last week and fewer states tapping the bond markets, their cost of borrowing has been heading north, as the coupon hit the highest level since mid-March at 7 per cent.
In spite of Mukesh Ambani, Gautam Adani, the Poonawallas and many other Indians seeing a jump in their net worth in the pandemic-hit 2020, overall wealth of the country's super-rich dipped 4.4 per cent to $12.83 trillion in the year due to the rupee's fall, and so did their tally, says a report.
Finance minister Nirmala Sitharaman on Tuesday reviewed with Infosys officials the technical glitches that continue to mar the new income tax e-filing portal. Sitharaman, along with minister of state for finance Anurag Thakur, revenue secretary Tarun Bajaj, CBDT chairman Jagannath Mohapatra went point by point on the issues facing the new portal with officials of Infosys.
In a major step towards its resurrection, the National Company Law Tribunal (NCLT) on Tuesday cleared the resolution plan submitted by Kalrock-Jalan consortium. The consortium will now apply for the relevant government approvals before it can recommence operations.
Amid a gradual reduction in dependence on Chinese production base, security considerations have prompted at least 25 countries and the European Union members to put in place screening mechanisms for foreign direct investment amid the pandemic.
Indian companies' market capitalization has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses.
Titan expects its jewellery business to have a muted recovery this year, unlike a V-shaped one last year, mainly due to the more devastating impact of the pandemic, which spread to the rural areas and resulted in more loss of lives.
The powerful US Chambers of Commerce has launched a massive campaign to address the acute shortage of skilled and professional workforce in America, prominent among which includes urging the Biden administration and Congress to double the number of H-1B visas and eliminate per-country quota for the Green Card.
Mukesh Ambani, Asias richest man, plans to transform each of the units under his refining-to-retail conglomerate to create a sustainable business model as Reliance Industries (RIL) chases a net carbon-zero goal by 2035.
Electronic marketplaces such as Amazon and Flipkart may have to tweak some of their policies after the Centre on Monday proposed tighter norms aimed at providing more transparency, including checking sale by companies where e-commerce players own a stake and curbs on sharing of data.