business news

Vibrant Gujarat Summit 2024: Mukesh Ambani outlines five commitments by Reliance to make Gujarat a global leader

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[ Vibrant Gujarat Summit: Reliance chairman Mukesh Ambani outlined five key commitments aiming to position Gujarat as a global leader at the Vibrant Gujarat Summit on Wednesday.According to an ET report, these commitments involve leading the state towards green growth, using 5G and AI technologies, creating jobs, and promoting inclusive economic development.Mukesh Ambani announced the … Read more

Up to 20 startup unicorns eye IPOs in next 1-2 years

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[ MUMBAI: After a tepid few years of Indian startups stalling public listing plans amid a global tech slowdown and choppy markets, new age firms are now set to make a comeback in the public markets. About 15-20 startup unicorns are expected to launch initial public offerings (IPOs) in the next 12-24 months, senior officials … Read more

India’s growth to remain robust, world economy to slow down in 2024: World Bank

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[ NEW DELHI: The World Bank on Tuesday said that the growth in the Indian economy is expected to remain strong during the next fiscal year, driven by robust investment and services activity.Against its projection of 6.3% expansion in 2023, the latest Global Economic Prospects has now pegged GDP growth at 6.4% in 2024 and … Read more

In pics: ONGC begins production from Krishna Godavari basin in Bay of Bengal; why it’s ‘remarkable’

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[ ‘Remarkable step’: State-owned Oil and Natural Gas Corporation (ONGC) announced on Monday that it has begun oil production from its long-awaited deep-sea project in the Krishna Godavari basin in the Bay of Bengal. This development is expected to reverse years of declining output. The initial oil flow from the deep-water KG-DWN-98/2 block took place … Read more

I’m a landlord – will we see our mortgage rates drop dramatically this year?

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[ Is the mortgage market turbulence getting you down? Have you got a mortgage-related question you need answering? Email in and we’ll get one of our experts to reply. Nick Mendes, mortgage technical manager at John Charcol, has given his advice to a reader below. If you have a question for our experts, email us … Read more

Fino Payments Bank applies for small finance bank licence

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[ MUMBAI: Fino Payments Bank has applied to RBI for a licence to operate as a small finance bank. Fino is one of the six remaining payment banks and the only one to be listed on stock exchanges.The bank’s board had approved the proposal on July 23 and also a corporate restructuring of the bank. … Read more

Can’t enforce IT freshers’ ‘non-competes’: Experts

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[ BENGALURU: A non-compete clause woven into Indian IT companies’ contracts for freshers can at best act as a deterrent, legal experts said, as campus hires are being coerced into signing agreements that are unenforceable in India.Tech employers are using their bargaining power to impose such restraints at junior levels and in many cases, legal … Read more

Indian tax payers migrating to higher range of total gross income: SBI Research report

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[ NEW DELHI: The income tax returns filed by individual taxpayers in India earning between Rs 5 lakh and Rs 10 lakh climbed by 295 per cent in the assessment years 2013-14 and 2021-22, showing a positive trend of migration to a higher range of gross total income, according to a report by SBI Research.The … Read more

Adani Green Energy plans to redeem $750 million bonds due in September

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[ AHMEDABAD: Adani Green Energy Limited (AGEL), the renewables arm of ports-to-power conglomerate, Adani Enterprises Limited (AEL), on Monday announced its plans to redeem $750 million worth of notes (Holdco Notes) due on September 9. The company plans to redeem the notes some eight months before they mature.“The company will pay $169 million from its … Read more

Billionaire Mukesh Ambani owns Boeing 737-9 Max jet type that was in Alaska Air accident

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[ Billionaire Mukesh Ambani’s conglomerate uses the type of Boeing Co. jet that is facing global scrutiny after a fuselage section on one such aircraft blew out mid-flight on Friday.Reliance Industries Ltd., controlled by Asia’s richest man, is the only one with a corporate jet that’s a Boeing 737-9 Max variant and has a plugged … Read more