Washington: Prices for US consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate in 39 years. The Labor Department also reported that prices rose 0.8% from October to November — a substantial increase, though slightly less...
New Delhi: India must complete the migration from 2G to 4G to 5G at the earliest and the roll out of 5G should be the country's national priority to join the next-gen digital transformation bandwagon, said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited (RIL), here on Wednesday. Delivering the virtual keynote address at...
Chennai: SpiceJet has announced that it would file an appeal in the Madras High Court against an order of the single bench of the high court directing the airline to wind up its operation. Justice Subramaniam of the Madras High Court had ordered the airline company to wind up its operation over its failure to...
Mumbai: The Reserve Bank of India (RBI) has maintained India's GDP growth projection for the current financial year to 9.5 per cent on accelerated economic recovery along with pent-up demand. Accordingly, GDP is expected to grow at 6.6 per cent in Q3, 6 per cent in Q4, 17.2 per cent in Q1FY23 and at 7.8...
New Delhi: United States Trade Representative Katherine Tai has raised market access restrictions, high tariffs, unpredictable regulatory requirements and restricted digital trade measures as key issues with India and underscored the huge potential of trade between the two economies in areas such as digital economy, services, health-related trade and agriculture. “These are issues we need...
Mumbai: On November 18, India’s biggest IPO tanked. A day after the Paytm listing, Reliance Industries’ 2019 deal with Saudi Arabia’s state-controlled energy giant Aramco was called off. As India’s largest company eyes a greener future, Aramco’s plan to buy a 20% stake worth $15 billion is off the table. Shares of the Mukesh...
Paytm IPO investors lose $900 million in two days as India’s biggest listing flopped. Mumbai: A stunning two-day plunge by India’s Paytm, run by Vijay Shekhar Sharma, after its initial public offering casts a shadow over the prospects for technology firms preparing to go public in what was supposed to be the country’s breakout year. Retail...
India, the world’s largest recipient of remittances, received $87 billion in 2021 with the United States being the biggest source, accounting for over 20 per cent of these funds, according to the World Bank. India is followed by China, Mexico, the Philippines, and Egypt, the Washington-based global lender said in its report released on Wednesday. In...
New Delhi: Fitch Ratings has Tuesday affirmed India's sovereign rating at 'BBB-' with a negative outlook. According to Fitch Ratings, India's rating balances a still-strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural issues. "The country's rapid economic recovery from the Covid-19...
