NEW DELHI: Global airlines body IATA says India’s “tourist visas issued to nationals of China are no longer valid”. Top government officials said India is still giving business, employment, diplomatic and official visas to Chinese nationals. India’s decision to keep Chinese tourists out also comes in the wake of Chinese reluctance to allow Indian students, … Read more
NEW DELHI/MUMBAI: The Indian government is looking to sell a 3.5% stake in state-owned insurance behemoth Life Insurance Corporation of India (LIC), a senior government and banking source told Reuters on Saturday. The listing is expected to hit the markets in first week of May and details on reservations, discount, issue date and price is … Read more
MUMBAI: Reliance Industries said on Saturday its deal with Future Group “cannot be implemented” after secured creditors in the latter rejected it, the company said in an exchange filing. “The shareholders and unsecured creditors of FRL (Future Retail) have voted in favour of the scheme. But the secured creditors of FRL have voted against the … Read more
NEW DELHI: Domestic edible prices are likely to come under intense pressure after Indonesia’s move to ban exports of edible oils, industry officials said and urged the Centre to resolve the issue. “Already sunflower oil supplies were hit due to the war in Ukraine. Now if palm oil supply is disrupted then prices will skyrocket. … Read more
NEW DELHI: Bankers have rejected Big Bazaar parent Future’s Group’s proposal to sell its retail and logistics assets to Reliance Retail, signalling that the Rs 24,700-crore deal between Kishore Biyani and Mukesh Ambani may have fallen through. To go through, the proposed deal required 75% of Future’s flagship company Future Retail’s (FRL) secured lenders to … Read more
NEW DELHI: The CBI has filed its charge sheet against former NSE MD and CEO Chitra Ramkrishna and ex-Group Operating Officer Anand Subramanian in connection with its probe into a co-location scam case, officials said Thursday. Ramkrishna and Subramanian are both in judicial custody following their arrest by the CBI on March 6 and February … Read more
NEW DELHI: An already sweltering summer and acute coal shortages are triggering blackouts across parts of India, raising fears of a new power crisis that could roil Asia’s third-biggest economy. A surge in demand for electricity has prompted states including Punjab and Uttar Pradesh in the north and Andhra Pradesh in the south to cut … Read more
NEW DELHI: The International Monetary Fund on Tuesday vowed to expand its work on crypto assets, amid a call from finance minister Nirmala Sitharaman to evolve a consensus to deal with digital assets. During a panel discussion early Tuesday morning (India time), Sitharaman flagged concerns over possible misuse of private digital currencies for money laundering … Read more
NEW DELHI: India’s economy is estimated to grow by 8.2% in the current fiscal year (2022-23), sharply slower than the International Monetary Fund’s (IMF) earlier forecast of 9% as the impact of Russia’s invasion of Ukraine weighs heavily on prices and disruption of supply chains. In its latest World Economic Outlook (WEO) report, the IMF … Read more