The Bank of England on Thursday kept its benchmark interest rate unchanged at 4 per cent, with inflation in the UK still running at nearly double its 2 per cent target. The move was widely expected by markets.Fresh data released on Wednesday showed annual inflation holding steady at 3.8 per cent in August, AP reported.The…
Maruti Suzuki India, the country’s largest carmaker, on Thursday said it will cut vehicle prices by up to Rs 1.29 lakh from September 22, passing on the benefit of a GST rate reduction to customers.According to the company’s regulatory filing, entry-level model S-Presso will see the steepest reduction of Rs 1,29,600, followed by Alto K10…
Hyundai Motor India Limited (HMIL) and United Union of Hyundai Employees (UUHE), the recognised union of the company, have announced the “successful conclusion and signing of a mutually beneficial wage settlement agreement” for the period 2024–2027, the company said in a statement on Wednesday. The long-term wage settlement is effective from April 1, 2024, through…
MUMBAI: While a jump in capital expenditure is unlikely this fiscal year, the prospects for the economic growth catalyst are much better over a medium-to-long term, an arm of global rating agency S&P said on Wednesday. Companies are likely to invest upward of $800 billion over the next five years, S&P Global said. “There is…
NEW DELHI: Finance minister Nirmala Sitharaman on Thursday urged India Inc to step up investments and expand capacities, saying the government has already delivered on key reforms expected by industry.Speaking at the IFQM Symposium, Sitharaman stressed that the government has delivered on industry expectations, citing reforms on ease of doing business, tax benefits, FDI liberalisation…
MUMBAI: The National Company Law Tribunal (NCLT) on Wednesday deferred the hearing on Vedanta’s ambitious demerger proposal to Oct 8, as the ministry of petroleum and natural gas objected to the scheme, citing a lack of necessary disclosures. The Mumbai bench of NCLT also directed Vedanta and the ministry to file written submissions in five…
MUMBAI: RBI said it has formed an independent panel to strengthen the stakeholder engagement in regulatory process and leverage industry expertise on a continued basis. The independent advisory group on regulation (AGR) has been formed, comprising external experts, to channel industry feedback into periodic review of regulations through regulatory review cell (RRC). SBI MD Rana…
WTO director-general Ngozi Okonjo-Iweala NEW DELHI: Artificial Intelligence (AI) could lead to significant increases in trade and GDP by 2040, with global trade projected to rise by 34-37% across different scenarios, a report released by the World Trade Organisation said on Wednesday. The report said that the largest growth occurs in trade of digitally deliverable…
Nirmala Sitharaman (File photo) NEW DELHI: The Union finance ministry has notified Central GST (CGST) tax rates for goods, which will be effective from Sept 22. States will now have to follow suit and notify the State GST (SGST) rates to be levied on goods and services beginning Monday. Under GST, the revenues are shared…
Nestle shares dipped on Wednesday after the food and beverage giant announced the “earlier than planned” exit of its chairman, Paul Bulcke, marking another shake-up at the top of the Swiss multinational.The news sent Nestle’s stock down 0.51% to 71.52 Swiss francs ($90.80) in early trading, weighing on the Swiss stock exchange’s SMI index, which…