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The Economic Times
The Economic Times Kriti Nutrients CFO resigns
The company has appointed Mohan Gehlot as the new Chief Financial Officer and Key Managerial Personnel.
The Economic Times PhysicsWallah closes $210 million funding round led by Hornbill Capital valuing it at $2.8 billion
PhysicsWallah, an online coaching platform, has raised $210 million in a funding round led by Hornbill Capital and Lightspeed, valuing the company at $2.8 billion. The funds will be used to expand its offline presence and diversify into new regions. PhysicsWallah's revenue has grown significantly, with a focus on student outcomes and community building.
The Economic Times Govt notifies Oct 1 as start date for Vivad Se Vishwas 2.0
Around 2.7 crore direct tax demands totalling about Rs 35 lakh crore are being disputed at various legal foras.
The Economic Times FM Sitharaman reviews capex plan of Housing and Urban Affairs ministry
Finance Minister Nirmala Sitharaman reviewed the Ministry of Housing and Urban Affairs' capex plan, stressing timely fund utilisation. Key discussions included the Pradhan Mantri Awas Yojana (Urban) scheme for affordable housing. She urged officials to meet capex targets for urban transport projects like Metro Rail and RRTS within the stipulated time frame.
The Economic Times There's a trap on India's road to high-income economy status
The Modi govt aims to make India a developed country by 2047, addressing the middle-income trap as a key challenge. Niti Aayog emphasizes the need for a cohesive strategy involving investment, technology adoption, and innovation. Policymakers focus on free trade, global value chains, and infrastructure to boost economic growth.
The Economic Times Experts call for clear regulation and tools to curb online gaming tax evasion
Recently, The DGGI has detected tax frauds to the tune of more than Rs. 2 Lakh Crore during the Financial Year 2023-24 and recovered more than Rs. 26.5 Thousand Crore of such evaded tax.
The Economic Times Enough S&T rhetoric, India inc, get R&Dy
Nirmala Sitharaman announced GST exemption for research funding in higher educational institutions and research centres with I-T exemptions. India's R&D spend is only 0.65% of GDP, with the government contributing over 60%. Private sector investment in R&D remains low, despite the need for long-term commitment to innovation.
The Economic Times HDFC Bank approves IPO of HDB Financial Services with fresh equity sale of Rs 2,500 crore
The IPO comprises a fresh equity sale of Rs 2,500 crore and an offer-for-sale component, allowing existing shareholders to divest their holdings. HDB Financial Services, a major NBFC, focuses on retail and commercial customers with a diversified portfolio of financial products and services.
The Economic Times Rare balancing act: How RBI chief Shaktikanta Das tamed volatile rupee with $689 billion in reserves
RBI Governor Shaktikanta Das has achieved a balance between stabilising the rupee and letting it weaken to support India's export goals. The RBI's foreign-exchange reserves have increased significantly, drawing in foreign investment and reducing the current account deficit. This strategy has made the rupee one of Asia's least volatile currencies, preparing India for external economic shocks.
The Economic Times Air India hired 9,000 employees in two years: Campbell Wilson
Air India has hired 9,000 employees over the past two years to support its expanding fleet and network. The airline's domestic market share increased from 24% to 27%, and international market share rose from 21% to 24%. Air India also reported a 25% rise in operating revenues and a significant reduction in losses.
The Economic Times No observations by US FDA during plant inspection: DRL
Dr. Reddy's Laboratories announced that the U.S. Food & Drug Administration (FDA) completed a routine Good Manufacturing Practice (GMP) inspection of its integrated product development organization in Bachupally, Hyderabad, with zero observations. The company shared this update in a stock exchange filing on Friday, highlighting compliance with regulatory standards.
The Economic Times Centre, states to compile employment data for targeted policy intervention
The central and state governments are set to collaborate on compiling employment data for a centralized dashboard aimed at targeted policy intervention. A meeting in Bhubaneswar discussed the need for accurate data and joint mechanisms. This initiative aligns with the Prime Minister's vision of Viksit Bharat@2047, focusing on employment generation and skilling.
The Economic Times Adani Total Gas secures USD 375 million financing from global lenders
The maiden financing of USD 375 million executed with international lenders includes an initial commitment of USD 315 million with an accordion feature to enhance the commitments.
The Economic Times RBI may do what Fed has done with rates. But you need to wait
Fed rate cut: The Reserve Bank of India may consider a rate cut by February 2025, following the US Federal Reserve's recent 50 basis points rate cut. Despite expected inflation spikes, India's CPI inflation is projected to remain within the RBI's target range. Favorable monsoon activity has positively impacted Kharif sowing, surpassing the five-year average.
The Economic Times Will Mukesh Ambani pull a Jio on Coke and Pepsi?
Reliance's Mukesh Ambani has revived the Campa Cola brand to challenge Coca-Cola and PepsiCo in India. By offering products at half the price, Reliance aims to disrupt the market. This move has prompted Coca-Cola and PepsiCo to accelerate promotions, although they have yet to cut prices.
