New Delhi: Road transport and highways minister Nitin Gadkari on Thursday said India’s logistics cost will fall to single digits to around 9% before December 2025, which will increase profit margins for industries and businesses and make Indian products competitive in the international market.Speaking at an event of the business chamber – PHDCCI, Gadkari cited…
NEW DELHI: The road transport and railway ministries have achieved a record capital expenditure utilisation of 63% and 56.5%, respectively, during the first half of the current financial year. The combined capex of the two ministries by Sept end was over Rs 3.1 lakh crore, as against the budgetary allocation of Rs 5.2 lakh crore…
NEW DELHI: The initial public offering of LG Electronics India Ltd received 54.02 times subscription on the final day of bidding on Thursday, driven by overwhelming participation from institutional buyers. The Rs 11,607-crore IPO received bids for 3,85,33,26,672 shares against 7,13,34,320 shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs)…
NEW DELHI: Taiwanese chipmaker MediaTek – the world’s biggest chipset provider to smartphone brands apart from automotive and home product makers – has said that it is ready to get its chips manufactured in India once fab production begins here.MediaTek, which globally designs and contract-manufactures chips for companies such as Xiaomi, Samsung, Oppo and Vivo,…
IT giant, Tata Consultancy Services (TCS) on Thursday said it has acquired US-based ListEngage for $72.80 million (about Rs 646 crore), marking a strategic move to enhance its Salesforce and AI advisory capabilities globally.Headquartered in Framingham, Massachusetts, ListEngage is a full-stack Salesforce partner specialising in marketing cloud, CRM, data cloud, Agentforce, and AI advisory services…
MUMBAI: Prime Minister Narendra Modi said that India has made the democratic spirit a pillar of governance and extended it to technology, making the country one of the most digitally inclusive societies.Addressing the Global Fintech Fest in Mumbai on Thursday jointly with UK Prime Minister Keir Starmer, Modi said that the India Stack has become…
The average long-term mortgage rate in the US fell to 6.3% this week, returning to its lowest level in about a year, mortgage buyer Freddie Mac said on Thursday. The rate on a 30-year fixed loan edged down from 6.34% last week, while a year ago it averaged 6.32%.Rates on 15-year fixed mortgages, often used…
Once dominated by jewellery, coins and bars, gold investment in India is rapidly moving into the digital and market-linked space, offering investors high returns without the need to hold physical gold.With the festival season of Dhanteras and Diwali approaching, investors looking for pure returns rather than physical ownership now have multiple options, including digital gold,…
The Reserve Bank of India (RBI) on Thursday announced a reshuffle of portfolios among its four deputy governors, redistributing oversight of its 32 departments.Shirish Chandra Murmu, who assumed charge as deputy governor following the retirement of M Rajeshwar Rao, has been assigned key divisions, including the departments of communication, government and bank accounts, regulation, and…
MUMBAI: UK prime minister Keir Starmer, on his maiden visit to Mumbai as head of state, sought to reposition his country as a key economic ally, showcase the UK’s renewed economic confidence, and call for deeper fintech and technology linkages.Starmer said that the India-UK trade deal was a huge win for both nations and a…