Business Archives - Eastern Mirror
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Reliance Industries becomes first Indian company to cross INR 1 lakh crore threshold in pre-tax profits

NEW DELHI — Reliance Industries Limited (RIL) has reported gross revenues of INR 10 lakh crore ($119.9 billion) for the year ended March 2024, up 2.6 per cent year-on-year supported by continued growth momentum in consumer businesses and upstream b...

22 Apr 2024

RBI asks payment firms to report suspicious fund transfers during LS polls

MUMBAI — The Reserve Bank of India (RBI) has asked non-bank payment system operators (PSOs), to track high-value or suspicious transactions through electronic modes of payment during the ongoing Lok Sabha elections to prevent any misuse of funds to...

22 Apr 2024

Hyundai Motor signs 174-MW renewable energy deal for EV plant in US

SEOUL — Hyundai Motor Group said on Monday it has signed a 174-megawatt power purchase agreement (PPA) with a solar energy project led by Spain’s Matrix Renewables to power its envisioned electric vehicle (EV) plant in the United States with ...

22 Apr 2024

Direct tax collections exceed estimates in FY24; jump 18 pc to INR 19.58 lakh crore

NEW DELHI — India’s net direct tax collections surged by a massive 17.7 per cent year-on-year to INR 19.58 crore in the fiscal year ended March 2024, surpassing even revised estimates by a wide margin, the tax department said on Sunday. Net c...

21 Apr 2024

Zomato slapped with INR 11.81 crore GST demand, penalty order

NEW DELHI, APRIL 20 (IANS): Online food delivery platform Zomato has received a goods and services tax (GST) demand and penalty order worth INR 11.81 crore. The order consists of INR 5.9 crore in GST demand and a penalty of INR 5.9 crore for July 201...

20 Apr 2024

Indian Railways to run record 2,742 more trains to clear summer travel rush

NEW DELHI — Indian Railways will operate a record-breaking 9,111 trips across the country to cater to the anticipated surge in travel during the summer season, the Ministry of Railways said on Friday. This translates to an increase of 2,742 trips o...

19 Apr 2024

Air India suspends flights to Dubai and Tel Aviv

NEW DELHI — Suspension of Tata-owned Air India flights to and from Dubai will continue till Sunday (April 21), the airline said on Friday. Following severe flooding in Dubai, United Arab Emirates (UAE), Air India suspended its flight operations on ...

19 Apr 2024

realme extends NARZO lineup with NARZO 70x 5G: The better 45W charging phone under INR 12K

NEW DELHI — In recent years, the demand for smartphones with quick-charging capabilities has skyrocketed. Given the hectic lifestyles of today’s younger generations, spending an hour or two waiting for your phone to charge is now considered a...

19 Apr 2024

Oil prices surge in global market amid escalating Iran-Israel tensions

NEW DELHI — Oil prices surged by $3 a barrel in the international market on Friday amid reports of Israel launching a missile attack against Iran raising fears of escalating geopolitical tensions that could disrupt crude shipments. The benchmark Br...

19 Apr 2024

Altos India unveils locally manufactured high-end workstations, servers

BENGALURU — In a fillip to the government’s local manufacturing push for IT hardware, technology company Altos India on Thursday said it has expanded its manufacturing portfolio to include high-end ‘Make in India’ workstations and...

18 Apr 2024

Nestle baby food sugar study causes concern in India, Nestle India’s shares fall

NEW DELHI — The baby-food brands sold by global giant Nestle in India contain high levels of added sugar, unlike the same products in the UK, Germany Switzerland, and other developed nations, revealed an investigation by Swiss organisation Public E...

18 Apr 2024

Escalation of Iran-Israel conflict to impact inflation, oil price, interest rates in India: Acuite Ratings & Research

CHENNAI — The price of crude oil would breach $100, the central bank may delay cutting the repo rate over uncertainty over disinflation, exports to West Asia may be affected and an increase in shipping costs are some of the likely impact if the con...

18 Apr 2024

Airtel Payments Bank joins NPCI to launch NCMC-enabled debit, prepaid cards

NEW DELHI — Airtel Payments Bank on Thursday launched eco-friendly NCMC (national common mobility cards) enabled debit and prepaid cards in partnership with the National Payments Corporation of India (NPCI). These interoperable cards are powered by...

18 Apr 2024

Nestle adds sugar to baby food sold in India but not in Europe

NEW DELHI — The baby-food brands sold by global giant Nestle in India contain high levels of added sugar, while such products are sugar-free in the United Kingdom, Germany Switzerland, and other developed nations, an investigation by Public Eye, a ...

18 Apr 2024

Indian electronics industry sees impressive 154 pc growth in hiring, skilling — Report

NEW DELHI — The electronics industry in India saw a massive 154 per cent growth in hiring and skilling in the last financial year (from March 2023 till March this year) and the telecom domain led the industry, a report showed on Thursday. The telec...

18 Apr 2024

realme P Series offering best display, performance in segment to go on sale starting April 22

NEW DELHI — Following the successful unveiling of its P Series, specifically curated for the Indian market, the much-anticipated realme smartphone series will soon be available to purchase on both realme’s official website and its e-commerce ...

18 Apr 2024

Four automakers to recall over 11,000 vehicles for faulty components

SEOUL — Hyundai Motor, Mercedes-Benz Korea, and two other carmakers will recall over 11,000 vehicles due to faulty components, the transport ministry here said on Thursday. The four companies, including Stellantis Korea and Man Truck & Bus Kore...

18 Apr 2024

Apple, CleanMax join hands to boost renewable energy adoption in India

NEW DELHI — Renewable energy company CleanMax on Wednesday said that it has partnered with Apple to accelerate renewable energy adoption in India. As part of the collaboration, CleanMax has successfully installed 14.4 megawatts of rooftop solar ins...

17 Apr 2024

Paytm accelerates user migration to PSP Banks with NPCI approval

NEW DELHI — One 97 Communications Limited (OCL) which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, received go ahead, on Tuesday from the National Payment Corpo...

17 Apr 2024

Samsung aims for INR 10,000 cr revenue from its AI TV business in India

NEW DELHI — Samsung on Wednesday said that it is targeting INR 10,000 crore revenue from its Artificial Intelligence (AI)-powered Neo QLED, OLED TV business in India. Samsung ended 2023 with a 21 per cent volume market share and this year it is loo...

17 Apr 2024

Intel builds 1st large-scale neuromorphic system to enable sustainable AI

NEW DELHI — Chip maker Intel on Wednesday announced that it has built the world’s largest neuromorphic system called ‘Hala Point’ to enable more sustainable artificial intelligence (AI). Initially deployed at Sandia National Labor...

17 Apr 2024

India to add 13,000 km of new highways in 2024-25: ICRA report

NEW DELHI — India is expected to maintain its rapid pace of road construction with the addition of up to 13,000 kilometres in the financial year 2024-25, an increase of 5 to 8 per cent over the previous year, according to a report released by ratin...

16 Apr 2024

UNCTAD forecasts India’s GDP growth at 6.5 pc in 2024

NEW DELHI — The latest UN Conference on Trade and Development (UNCTAD) report released on Tuesday forecasts global economic growth at 2.6 per cent in 2024 barely above the 2.5 per cent threshold commonly associated with a recessionary phase. Howeve...

16 Apr 2024

Employment could rise by 22 pc by 2028 as India aims $5 trillion economy goal — Report

NEW DELHI — As India approaches its $5 trillion economy goal, overall employment could rise by 22 per cent, while unemployment could decline by 97 basis points by 2028, a report showed on Tuesday. The ‘India Employment Outlook 2030’ report by O...

16 Apr 2024

Mahindra unveils new nine-seater Bolero Neo+ starting at INR 11.39 lakh

NEW DELHI — Leading SUV manufacturer Mahindra & Mahindra on Tuesday unveiled the 9-seater ‘Bolero Neo+’ in two variants — the P4 and the P10, at a starting price of INR 11.39 lakh (ex-showroom). According to the company, the P...

16 Apr 2024
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