Profits pulled sharply ahead of investment in FY24 (Representative image) MUMBAI: Corporate profits have recovered much faster than investment after the pandemic, with aggregate profit before interest and tax (PBIT) growing 21.4% in FY24 against 6.1% growth in gross fixed assets (GFA), an Economic Advisory Council to the Prime Minister working paper has found.Profitability itself…
Headline CPI inflation increased marginally in July. MUMBAI: The Indian economy remains resilient despite external headwinds, but below-normal monsoon prospects, higher crude oil prices, geopolitical tensions and global trade uncertainty pose risks to growth and inflation, according to the State of the Economy article in RBI’s Aug bulletin.The assessment also pointed to firm domestic demand,…
In its clarification, Federal Bank said it evaluates opportunities for growth and expansion in the ordinary course of business. MUMBAI: Shares of Federal Bank closed 3% lower on Tuesday after reports that the lender was pursuing a merger with Jana Small Finance Bank, while Jana SFB fell 2% as sensex closed flat. Both banks later…
Remittances rose 6.5% month-on-month to $2.5 billion in June, nearly 20% higher than a year earlier. MUMBAI: RBI turned a net purchaser of US dollars in June this year, buying $561 million in the spot and over-the-counter market after net sales of $6.1 billion in May and $3.6 billion in June 2025.According to the central…
Goyal also met a bunch of portfolio investors, including MUFG, Development Bank of Japan (DBJ), Mizuho, Morgan Stanley, Nomuraand Nippon Life. TOKYO: Amid concerns over some certification requirements, commerce and industry minister Piyush Goyal Tuesday said that BIS (Bureau of Indian Standards) and his ministry will work out a framework to support high-tech industries looking…
Gold is currently trading at around $4,600. A tenfold increase from that level would put the price at roughly $46,000 an ounce. (Image source: Adobe stock) Will gold prices hit $50,000 per ounce in the coming years? Thomas Kaplan, the chairman of Electrum, and a billionaire has predicted that the yellow metal may rise as…
The crackdown also includes tougher vetting of H-1B applicants, including scrutiny of their social media profiles and resumes. The Trump administration is tightening the US immigration system on multiple fronts, with new restrictions affecting immigrant visas, H-1B workers, green card applicants and some existing visa holders.The latest moves include a global pause in immigrant visa…
Indian stock markets will remain in focus on Wednesday as investors assess whether falling crude oil prices can provide further support to equities after benchmark indices closed higher in the previous session. The Nifty 50 ended Tuesday at 24,334.55, gaining 115.50 points, or 0.48%, while the BSE Sensex rose 286.98 points, or 0.37%, to 77,656.09….
Hydrogen is being used because it is considered the cleanest fuel available today. India’s first hydrogen-powered train, flagged off last month by Prime Minister Narendra Modi, is achieving new milestones every day. According to the latest information from Indian Railways, the hydrogen train, which is also the world’s most powerful, has clocked around 6,000 kilometers…
India is confident that trade will continue uninterrupted even after the US announced sanctions on Iran (representative image) India, the world’s biggest rice exporter, is confident its rice trade with Iran can withstand the threat of tougher US sanctions, with shipments continuing despite higher prices and months of war-related disruption.Rice accounts for nearly two-thirds of…
