BUSINESS
ED seizes assets of Gupta builders in money laundering case
The agency said it conducted a search operation on June 3 at the premises of Gupta Builders and Promoters Pvt Ltd. and its Directors Satish Gupta, Pardeep Gupta and their associates Bajwa Developers Ltd, Kumar Builders, Vinmehta Films Pvt Ltd. and residences of their Directors Jarnail Singh Bajwa, Navraj Mittal and Vishal GargA and Others at 19 locations in Chandigarh, Ambala, Panchkula, Mohali and Delhi.
India aims to double marine product exports to Rs 1 lakh Cr in 5 years
"This target will be achieved through sustainable fishing, ensuring quality and variety, promotion of coastal shipping and aquaculture, and by supporting the entire fisheries ecosystem," said Goyal, addressing the mediapersons at the Marine Products Export Development Authority (MPEDA), Kochi.
Indices extend losses; Sensex, Nifty shed over 1% each
At 10.02 a.m., Sensex was 1.1 per cent down at 55,037 points, whereas nifty down 1.1 per cent at 16,388 points. The three-day Reserve Bank of India's (RBI) monetary policy review meeting that started on Monday will have a bearing in the market movement going ahead. Though the RBI raising policy rates in the ongoing monetary policy committee meeting is a "no brainer", as said by its Governor Shaktikanta Das
ED names Mehul Choksi's wife in charge sheet too
This is the second supplementary charge sheet which was filed before a special court in Mumbai against six including Choksi, his wife and their firms. Choksi, who is wanted in India by the Central Bureau of Investigation and the ED in Rs 13,500 crore Punjab National Bank (PNB) fraud case, had gone missing from the island nation on May 23, last year sparking a massive manhunt.
RIL's energy arm on track to deliver best quarterly results: Morgan Stanley
Petrochemical margins, despite lockdowns in China, are up quarter-on-quarter and trending towards mid-cycle, whereas profitability in upstream is at its best ever. "RIL's fuel refining margins are tracking at $17 per barrel. i.e., 2x above mid-cycle levels," it said. Globally, the firm expects a shortage of one refinery annually for the next few years.
Musk warns of killing Twitter deal over lack of user data transparency: Report
As per the letter, Musk considers Twitter's "latest offer to simply provide additional details regarding the company's own testing methodologies, whether through written materials or verbal explanations, (as) tantamount to refusing (his) data requests," requests that Musk said will help "facilitate his evaluation of spam and fake accounts on the company's platform".
RBI's monetary policy meet: Here's some of the expectations
In early May, the RBI, in a surprise off-cycle meeting, hiked the repo rate, the rate at which the central bank lends short-term funds to banks by 40 basis points (bps) to 4.40 per cent, amidst rising inflation concerns in the economy. In the same off-cycle meeting, the cash reserve ratio was hiked by 50 basis points to 4.5 per cent essentially to squeeze out some liquidity from the system.
Vedanta Aluminium's largest smelter reduces GHG emissions intensity by 12% in FY222
On World Environment Day, Vedanta Aluminium committed to reduce GHG emissions intensity by 25 per cent by 2030, over FY21 baseline, as part of its climate action endeavours. Historically, Vedanta Aluminium has reduced its GHG emissions intensity by 21 per cent in the 2012-21 period, while almost tripling its production in the same period. Vedanta Aluminium has deployed a multi-pronged approach for combating climate change.
RBI rubbishes reports of currency notes with faces of Tagore, Kalam
"There are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency and banknotes by replacing the face of Mahatma Gandhi with that of others," the central bank said in a statement on Monday. The statement added that there is no such proposal in the central bank.
Indices start fresh week marginally in red, RBI policy meet outcome in focus
The central bank raising policy rates in the meeting is a "no brainer" as said by its Governor Shaktikanta Das. The investors, however, await the actual degree of percentage hike before taking fresh positions in the markets. Investors also eye other macro economic forward looking guidance from the central bank.
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