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The Economic Times
The Economic Times Plea filed in Supreme Court to take US bribery charges against Gautam Adani on record
The US Supreme Court is now involved in the Gautam Adani bribery scandal. A new plea alleges that Adani bribed Indian officials to secure solar energy contracts, echoing accusations made by US prosecutors and the SEC. The plea urges a thorough investigation and a conclusive report from the Securities and Exchange Board of India (SEBI) to maintain investor confidence.
The Economic Times CCI rejects Apple request to put antitrust report on hold
The Competition Commission of India (CCI) in August ordered a recall of investigation reports after Apple said the watchdog had disclosed commercial secrets to competitors in the case dating back to 2021, including Tinder-owner Match. These elements should have been redacted.
The Economic Times Choose correct income tax returns to report foreign assets: CBDT
As many as two lakh income tax returns (ITRs) containing details of foreign assets and income have been filed during the current assessment year till now, according to the tax department.
The Economic Times Yes Bank faces ₹63 Crore GST demand for FY 2017-19
Yes Bank received two orders from the Goods and Services Tax Department, Maharashtra, demanding a total of ₹ 63,26,98,888/- for FY 2017-18 and FY 2018-19. The bank plans to appeal, believing it has sufficient grounds to support its position and stating that it anticipates no significant impact on its operations.
The Economic Times Global companies are showing a strong and growing commitment to the Indian market: Joe Ucuzoglu, global CEO, Deloitte
Deloitte Global CEO Joe Ucuzoglu, in an interview, expressed confidence in the enduring US-India partnership and India's economic trajectory. He highlighted India's growing role in Deloitte's global strategy, driven by the country's economic potential and talent pool. Ucuzoglu emphasized the firm's commitment to integrating AI, fostering a positive work culture, and navigating the evolving landscape of professional services.
The Economic Times India Inc's interest cover weakens with slipping top & bottom lines
Indian companies faced a decline in interest coverage ratio to 4.8% in the September quarter. This was due to rising interest costs and slower growth in operating profit. Interest costs surged by 7.2% year-on-year, while revenue growth slowed down to 4.9%. Higher working capital requirements and increased borrowings further impacted the ratio.
The Economic Times Expect tractor industry festive season sales to grow 8-10% this year: Escorts Kubota CFO
Driven by a favorable monsoon season and positive market sentiment, tractor sales in India are projected to surge by 8-10% during the September-November festive period. Despite a sluggish first half, the industry anticipates double-digit growth in the latter half of the fiscal year, culminating in an overall mid-single-digit growth for the year.
The Economic Times hBits aiming for Rs 10,000 crore in assets under management, IPO in 4-5 years, says CFO Samir Bhandari
hBits CFO Samir Bhandari says the plans are fueled by strategic acquisitions, SEBI’s new regulations, and growing investor base.
The Economic Times AI revolution drives surge in gold demand for smartphones, autonomous vehicles, and data centres: WGC
Gold demand in the electronics sector peaked in 2010 at 328 tons but gradually declined to 249 tons by 2023. Recent quarters, however, have shown a modest recovery, driven in part by the expansion of AI-enabled devices.
The Economic Times Adani CFO says US indictment linked to one Adani Green contract
Adani Group CFO Jugeshinder Robbie Singh addressed a U.S. bribery indictment, clarifying its connection to a single contract under Adani Green Energy, representing about 10% of their business. Singh emphasized that the allegations, stemming from a February 2024 risk disclosure, are unproven and don't involve other Adani entities.
The Economic Times India may roll out scheme worth billions of dollars to boost local electronics production
Buoyed by robust local manufacturing of electronics products, especially mobile phones, the government is reportedly planning to soon roll out incentives worth billions of dollars for domestic companies to manufacture deeper components.
The Economic Times Six pharma firms to set up facilities in Telangana, create over 12,000 job
Six prominent pharmaceutical companies, including Dr Reddy's Laboratories, Aurobindo Pharma, and Hetero Labs, have signed memorandums of understanding (MoUs) with the Telangana government to set up facilities in the Pharma City near here, the government announced on Friday. The companies have committed to invest over Rs 5,260 crore, which is expected to create 12,490 job opportunities in the pharma sector, according to an official release.
The Economic Times North Chennai's Tidel Park to boost IT growth, generate 6,000 jobs
The new Tidel Park in North Chennai is set to transform the region into a "thriving information technology hub," according to real estate consultant Knight Frank India. Strategically located with robust infrastructure, the facility will spur economic growth and job creation, said Srinivas Anikipatti, Knight Frank India's executive director for Tamil Nadu and Kerala.
The Economic Times Apple readies more conversational Siri in bid to catch up in AI
Revamping the 13-year-old Siri service is part of Apple’s efforts to become a force in artificial intelligence. The company debuted its much-ballyhooed Apple Intelligence platform last month, but it still lacks many of the features offered by other tech giants. The new Siri, details of which haven’t been reported, uses more advanced large language models, or LLMs, to allow for back-and-forth conversations, said the people, who asked not to be identified because the effort hasn’t been announced.
The Economic Times Allcargo to set up Rs 115-crore logistics park in Haryana
Allcargo Terminals Limited is investing Rs 115 crore to develop a multimodal logistics park in Farrukhnagar, Haryana. The park, a partnership with Haryana Orbital Rail Corporation Limited, is part of a larger Rs 6,000 crore initiative. This project will enhance freight connectivity and foster new industrial zones, boosting the region's economic growth.
