BUSINESS
Essar strikes landmark supply deal with Liverpool airport
The new access agreement will allow Essar to supply fuel directly to airlines at the wingtip and marks another step in Essar's growing aviation fuels business, as air travel continues to recover from the effects of the pandemic.
Factors leading to rise in inflation in India
Retail inflation tracked by the Consumer Price Index (CPI) measures the changes in prices from a retail buyer's perspective. The CPI Inflation has been rising since September last year and remained above upper tolerance band of the Reserve Bank of India (RBI) for straight six months starting from January this year. CPI numbers has seen a sharp rise in April at 7.79 per cent, followed by 7.04 per cent in May this year.
Indian auto industry accelerating, shows robust July numbers
The commercial vehicle's sector maintained robust growth momentum, driven by strong demand in both passenger and cargo segments, said Emkay Global Financial Services. Similarly, the passenger and two-wheelers makers also showed growth owing to higher production and inventory build up with dealers in the run-up to festive season, Emkay Global said.
Powered by strong Q1 growth, ITC stock hits a three-year high
On Monday, Sanjiv Puri led ITC reported a 38 per cent year-on-year (YoY) growth in its consolidated net profit which stood at Rs 4,169 crore, as compared to Rs 3,013 crore last crore. The company's net sales too saw a 41 per cent spike and stood at Rs 18,164 crore, while EBITDA was up 41.5 per cent on Y-o-Y basis. According to ITC, a strong performance by all business segments is responsible for the Q1 growth.
Your Handbook of the Best Saving Plan in India: Invest Wisely
Financial security is one of the essential parts of living, whether it is your present or your retirement life. An insurance plan such as an endowment plan could be an excellent investment choice, and it is one of the best saving plans in India if your goal is to be financially stable in the present and future.
Zomato, Blinkit to cross-leverage customer bases soon: Deepinder Goyal
Goyal said that in India, super brands will work better than super apps. "Which means that the Blinkit app will continue to operate independently. We will also start working on integrating the delivery fleet back-ends which should drive higher delivery efficiency over time," he said in the letter to shareholders.
'With global positive cues rupee to trade 79.15 to 79.75 band against dollar'
According to Aditi Gupta, Economist at Bank of Baroda, the rupee after a record-low of 79.99/$ on July 20 has closed the fortnight stronger by 0.9 per cent. Apart from a weaker dollar, a reversal in foreign portfolio investments (FPI) outflows has also helped in supporting the rupee, Gupta said in the report.
Israel limits cash payments to fight financial crimes, tax evasion
The law, which was introduced by the Israel Tax Authority last week, requires that any payment to a business over 6,000 shekels must be made through other means such as digital transfer or a debit card. Individuals who are not listed as business owners can use up to 15,000 shekels in cash when it comes to trading, Xinhua news agency reported.
5G auction: Which telco got what, what bands were sold the most
If we look band-wise, the pricey 700 MHz band saw bids worth Rs 39,270 crore. The most popular 3300MHz band saw bids worth 80,590 crore and the 1800MHz band received bids worth Rs 10,376 crore. The 26MHz band got bids worth Rs 14,709 crore while 800 MHz band received bids worth Rs 1,050 crore. Around Rs 650 crore went to the 2500 MHz band while Rs 349 crore went to the 900 MHz band.
India still fastest growing economy, no sign of recession: FM on price rise defence
Speaking during a debate on the issue of price hike in the Lok Sabha, Sitharaman said the global agencies have ranked India's economy higher than most countries and there is no sign of recession in the country. While comparing India with neighbouring countries such as China, Sri Lanka, Pakistan, Bangladesh as well as the US and European countries, she said that on the basis of various parameters and data, India is in a much better state than most other countries at the global level.
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