BUSINESS
Jan-March Quarter Sees Decrease in India's Unemployment Rate
This decrease, as per the data from the Periodic Labour Force Survey (PLFS) released by the National Statistical Office (NSO) on Wednesday, indicates a sustained advancement in the job markets. Particularly noteworthy is the decrease in female unemployment rates, which decreased from 9.2% in the first quarter of 2023 to 8.5% in the corresponding period of 2024.
PhonePe Facilitates UPI Payments for Travelers to Sri Lanka in Collaboration with LankaPay
The transaction will be denominated in Indian Rupees (INR), with applicable currency exchange rates applied.
India has a substantially lower debt-to-GDP ratio than the US, Japan, France, and the UK, Sitharaman
This is very low compared to countries such as Japan, Italy, the USA, France, and the UK. These countries have much higher levels of debt. Besides, Sitharaman pointed out that the growing concern about the rising sovereign default risks in the world, where almost 60 countries were at high debt levels by 2022, from 22 in 2011.
Economic superpowers like India reshaping global economy, says Rishi Sunak
Asserting that the upcoming five years will witness more transformation than the past three decades, Sunak, speaking on security at the Policy Exchange think-tank, outlined a strategic roadmap and innovative initiatives to secure a prosperous future for Britons.
Zomato's Decision to Relinquish RBI License for Online Payment Aggregator Operations
The statement by Zomato came as it realized that it does not see any inherent competitive advantage in the domain of payments, hence commercially not being viable for the company at present. Having made due consideration, the company had evaluated the ground position as it had moved ahead towards the building up of infrastructure to actually start operations, said the regulatory filing.
Tata Motors Shares Plummet by Over 9%, Market Cap Shrinks by Rs 29,946.88 Cr
The company's scrip crashed by 9.44 per cent to Rs 948 a piece on BSE, while on NSE, it plunged by 9.50 per cent to Rs 947.20 a piece. The slide wiped off Rs 29,946.88 crore from the company's market valuation, which fell to Rs 3,17,998.73 crore.
With neighbour like China, we have to learn to compete: EAM Jaishankar on India's Manufacturing Boost
The necessity for India to enhance its manufacturing capabilities to compete effectively on the global stage, particularly due to the competitive nature of international relations, especially with China as a neighbor, was an important one, he stressed. Jaishankar stated that self-reliance and building economic strength at home are fundamental to a robust foreign policy.
Meesho Secures $275 Million in Funding for Social Commerce Platform
This fundraise is still open, investors in this round included existing investors SoftBank, Prosus, Elevation Capital, and Peak XV Partners.
Tata Motors' Q4 Net Profit Soars to Rs 17,410 Crore, Up by 222%
Jaguar Land Rover, the company making the iconic Range Rover and popular Defender SUVs, had a disproportionate contribution with the unit accounting for more than 60 percent of Tata Motors' consolidated revenue.
March Sees 4.9% Growth in India's Industrial Production
The manufacturing sector, a key provider of employment opportunities for recent graduates from the country's universities and engineering institutes, experienced a growth rate of 5.2 percent during the month.
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