Mumbai: The healthy growth in exports during the April-June quarter notwithstanding, the country's current account deficit could see a big turn in FY22, changing from a surplus position in Covid hit FY21 back to a deficit situation in the current year, a report on the country's trade position has said. According to a report from...
New Delhi: Amid reports that demands have been made from certain quarters to extend the deadline for submission of comments and suggestions on the draft e-commerce rules, the Confederation of All India Traders (CAIT) has described such requests as delaying tactics and said that there is no need for any extension of deadline. In a...
Washington: In a significant development, the US Department of Defense announced that the Pentagon has canceled a $10 billion JEDI (Joint Enterprise Defense Infrastructure) contract that was given to Microsoft in 2019, leaving the favourite Amazon out of the race during the Donald Trump administration. According to a report in CNBC, the Pentagon said that...
San Francisco: Jeff Bezos who founded Amazon exactly 24 years ago on July 5, 1994, has officially stepped down and former AWS executive Andy Jassy has taken over as the CEO of the commerce behemoth. On Amazon investor relations' website, Jassy is now listed as President and CEO of Amazon.com and also serves on the...
New Delhi: India has extended the suspension on international commercial flight operations till July 31, 2021. "In partial modification of the circular dated 26-06-2020, the competent authority has further extended the validity of the circular issued on the above subject... regarding scheduled international commercial passenger services to or from India till 2359 hrs IST of...
Mumbai: The Indian rupee continued to depreciate this week amid a strengthening dollar across currencies globally. The rupee ended at 74.32 per dollar, weakening by 9 paise from its previous close. Rahul Gupta, Head Of Research (Currency), Emkay Global Financial Services, said: "The rupee is on an edge, for which the greater sensitivity probably lies towards...
New Delhi: As ecommerce regulations are tightened, fight between foreign companies Amazon, Flipkart and Indian companies Reliance, Tata Group is set to intensify. Foreign brokerage, Jefferies said in a note, "The proposed rules now target indirect ownership in vendors, own label, flash sales. Fight between foreign cos (Amazon, Flipkart) & Indian cos (Reliance, Tata Grp)...
New Delhi: Union finance minister Nirmala Sitharaman has announced eight economic relief measures for sectors which have been hit hard by the second wave of the Covid-19 pandemic. Tourism and health sectors were the primary focus of the announcements made by Sitharaman. Here are some key announcements made by the finance minister: (1.) Atmanirbhar Bharat Rozgar...
Washington: A traditional Indian beauty and wellness brand inspired by Ayurveda has announced its entry into the American market as part of the efforts of Indian companies to expand their global footprint. The firm, Aromazeia, launched its collections of essential oils, attar and aromatherapy products, many of which are manufactured in the foothills of Himalayas,...
