Adani Group plans to invest USD 14 billion (Rs 1.2 lakh crore) in 2024-25 financial year through its portfolio of 11 listed companies, in developing the country’s infrastructure, according to sources. The projected capital expenditure is 40 per cent higher than its it invested in the current financial year 2023-24, which is estimated at USD … Read more
In India’s tech capital Bengaluru, employees of the IT/ITeS firms gathered under the flag of the Karnataka State IT/ITeS Employees Union (KITU) to stage a protest march in front of the Karmika Bhavana, the office of the state labour commission on Saturday, March 16. The employees of the IT/ITeS firms demanded that the exemption given to IT/ITeS companies … Read more
The United States has expanded its investigation into India’s Adani Group, focusing on whether the conglomerate, along with its founder Gautam Adani, may have engaged in bribery. US prosecutors are examining whether Adani entities, or individuals associated with the company, were involved in paying officials in India for favourable treatment on an energy project. The investigation, led by the … Read more
India’s foreign exchange reserves rose by USD 10.470 billion to USD 636.095 billion in the week that ended on March 8, as per the latest data released by the Reserve Bank of India (RBI). The foreign exchange kitty rose for a third straight week to hit an over two-year high. Before March 8 week, the … Read more
The Ministry of Information & Broadcasting (I&B) on 14th March banned several OTT platforms and social media accounts over publishing obscene and pornographic content. In a press release, the ministry said that in collaboration with various intermediaries, it has blocked 18 OTT platforms for publishing obscene, vulgar, and, in some instances, pornographic content. As per this action, … Read more
On Tuesday (12th March), the Supreme Court Collegium rejected the Central government’s objection to advocate Manoj Pulamby Madhavan’s appointment as a Kerala High Court judge. The Central government had opposed Madhavan’s nomination since he was a supporter of the Communist Party of India (Marxist) (CPI(M)) and had previously worked as a Government Pleader in Kerala during the … Read more
Financially strained ed-tech startup Byju’s has vacated all its office spaces and mandated all its employees to ‘work from home’. As per reports, the company, however, has retained its headquarters at IBC Knowledge Park in Bengaluru, where around 1,000 employees will continue to work from the office. Additionally, around 300 of Byju’s tuition centres are physical spaces. Students of … Read more
On Sunday (10th March), Prime Minister Narendra Modi will inaugurate a whopping 15 airport projects as part of the government’s continued emphasis on infrastructure development in the country. These projects include new terminals at Delhi, Pune, Gwalior, Hubli, Jabalpur, Belgaum and Lucknow airports. Besides, new airports will be built in Chitrakot, Shavasti and Azamgarh districts of Uttar … Read more
The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday for establishing a framework to promote the use of local currencies – the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions. The MoU was signed by the Governor, Reserve Bank of India, Shaktikanta … Read more
Due to the severe decline in demand in the two biggest consuming markets, the US and China, the nation’s cut and polished diamond (CPD) export is expected to drop by 25–30% this fiscal year to a multi-year low of USD 15–16 billion, and it is unlikely to improve even the following fiscal year, according to … Read more