Ilker Ayci has turned down the Tata Group’s offer to be Chief Executive Officer and Managing Director of Air India. On February 14, Tata Sons had announced the appointment of Ayci, former chairman of Turkish Airlines, as the CEO and MD of Air India. The debt-laden airline was bought out by the Tatas in a […]
India’s economic growth slowed to 5.4 per cent in the third quarter of 2021-22 but higher than China’s GDP expansion of 4 per cent during the same period and the country retained its position as the world’s fastest growing major economy. In the current fiscal, GDP growth stood at 20.3 per cent in April-June quarter […]
The Union Cabinet on Saturday permitted up to 20 per cent foreign direct investment (FDI) under automatic route in IPO-bound LIC with an aim to facilitate disinvestment of the country’s largest insurer, sources said. The decision in this regard was taken by the Cabinet, chaired by Prime Minister Narendra Modi. The government has approved listing […]
Amidst Russia’s ongoing military operation in Ukraine, equity indices opened in green on Friday with the Sensex up by 791.81 points and Nifty up by 267.70 points. The 30-scrip BSE Sensex was up by 791.81 points or 1.45 per cent at 55321.72 at 9.15 am.Similarly, 50-scrip NSE Nifty was trading at 16515.70 at 9.15 am, […]
The key benchmark indices started trade with deep cuts after Russia ordered military operations in Ukraine and reports emerged of blasts in some major Ukrainian cities. The BSE Sensex fell 1320 points to 55, 911, while the NSE Nifty50 was at 16,695, down 370 points. Oil prices soared and topped the $100 a barrel mark […]
Banks have recovered ₹18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, Solicitor General Tushar Mehta told the Supreme Court on Wednesday. Mehra told the Justice AM Khanwilkar-led bench the value of cases registered under the Prevention of Money Laundering Act (PMLA) against Mallya, Modi, and Choksi is now ₹67,000 crore. “The Enforcement […]
Finance minister Nirmala Sitharaman on Tuesday refuted Shiv Sena’s claims that central agencies like Enforcement Directorate (ED) were being used to settle political scores. On Russia and Ukraine crisis, she said the impact of the prevailing situation on oil prices were posing challenges to financial stability. “On the crude prices, it is very difficult to […]
The BSE benchmark Sensex tanked over 1,000 points and the NSE Nifty cracked below the key 17,000-level in opening deals on Tuesday, mirroring a rout in the global equity markets. The Sensex was trading 1,015 points or 1.76 per cent lower at 56,668.60, and the Nifty quoted 285.4 points or 1.66 per cent lower at […]
Making a strong case for banning cryptocurrencies, Reserve Bank Deputy Governor T Rabi Sankar on Monday said they are even worse than Ponzi schemes and threaten the financial sovereignty of a country. Observing that crypto-technology is underpinned by a philosophy to evade government controls, he said they have been specifically developed to bypass the regulated […]
Union finance minister Nirmala Sitharaman said there was complete harmony with which her department was working with Reserve Bank of India on all issues, including cryptocurrencies. She said there is a respect towards each other’s domain and priorities keeping the nation’s interests in mind. “Not just on crypto, but on every other thing as well. […]