Business

India permits 100% FDI in telecom sector


New Delhi: The India government has permitted 100% FDI under automatic route in the telecom services sector, news agency PTI reported. The Department for Promotion of Industry and Internal Trade (DPIIT) said that foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020. DPIIT said that a “non-resident...

Global inflation nearing peak, stabilizing next year, says IMF


New Delhi: The current inflation spike hitting countries across the world will peak in the months to come and stabilize by the middle of next year, the IMF has predicted. "Headline inflation is projected to peak in the final months of 2021, with inflation expected back to pre-pandemic levels by mid-2022 for both advanced economies...

Moody’s upgrades outlook on India from ‘negative’ to ‘stable’


New Delhi: India now has its sovereign credit rating outlook revised to stable from negative by Moody’s Investors Service, on receding risks posed by the financial sector to the overall economy. The country’s credit rating was, however, unchanged at Baa3, the lowest investment grade. “The decision to change the outlook to stable reflects Moody’s view that...

India will clock over 7 per cent growth this decade: Chief Economic Advisor K V Subramanian


Washington, DC: This decade will be India's decade of inclusive growth during which it will clock over 7 per cent annual growth on the back of strong economic fundamentals, Chief Economic Adviser K V Subramanian has said, highlighting the country's reform process and its ability to convert the crisis into an opportunity that helped it...

IPO-bound OYO in legal spat with rival Zostel


New Delhi: The battle between tech hospitality major OYO and hostel chain Zostel reached another high, as IPO-bound OYO published an open blog in response to a letter by Zostel threatening it to constrain its IPO readiness actions. The hostel chain has threatened that it "shall be constrained to write to SEBI and/or initiate appropriate...

IndiGo, American Airlines ink codeshare agreement


New Delhi: Domestic airline IndiGo has entered into a codeshare agreement with the US-based American Airlines. In aviation parlance, a codeshare agreement allows airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. Accordingly, the agreement on 29 of IndiGo's domestic routes in India will provide a...

RSS statement on Amazon irrelevant, says Congress


New Delhi: After Panchjanya, a journal with RSS leanings, launched an attack on Jeff Bezos founded Amazon, the Congress says what the RSS is saying about the Amazon is irrelevant but the bribery allegation against it should be "probed". "What the RSS is saying on Amazon is irrelevant because there is a duet going on...

RSS-linked ‘Panchjanya’ says Amazon is East India Co 2.0


New Delhi: After labelling bribery charges against Infosys, Panchjanya, a journal with RSS leanings, has now opened an attack on Jeff Bezos founded Amazon, with a cover story calling it the second generation of the East India Company that entered India with business interests but ended up colonising the country for 200 years. The cover...

Karnataka bans online skill gaming, casts shadow on Fantasy Sports


New Delhi: The Karnataka Police (Amendment) Act, 2021, which was passed in the Karnataka Assembly to prohibit online skill games like fantasy sports, rummy and poker in the state, has cast a shadow on online fantasy sports. Fantasy cricket is expected to be the most affected among all games of skill, as the ban falls...