The ministry of statistics and programme implementation released a new series of national accounts with 2022–23 as the base year, replacing the 2011–12 series. The revision incorporates fresh data sources such as GST, PFMS and e-Vahan, introduces double deflation in key sectors, and relies on annual surveys for improved household estimates.■ What is a base…
MUMBAI: Across the board selling pulled the sensex down by 961 points (1.2%) on Friday, and the 30-share index closed at 81,287 points with banks leading the slide. Tariff uncertainty, foreign fund selling and no visible progress in Iran-US talks left investors jittery and pressing the sell button ahead of the weekend.Foreign funds led the…
Game-Changer for Global Finance? UAE Unveils World’s First AI-Powered Sovereign Cloud to Guard Banks and Data In a bold leap that could redefine how modern financial systems operate, the Central Bank of the United Arab Emirates (CBUAE) has announced the launch of what it calls the world’s first sovereign financial cloud services infrastructure, a secure…
How This Indian American Millionaire Broke Barriers And Is Now Teaching Others to Win At 80 years old, Kanwal Rekhi, a self-made Indian-American millionaire, Silicon Valley pioneer and mentor to thousands, has chronicled his remarkable rise and lifelong mission to empower others in a new book titled The Ground Breaker. The memoir, released on February…
CHENNAI: Asian footwear manufacturers are reviving plans to set up non-leather footwear factories in India, targeting exports to the American market, following a reduction in tariffs on Indian goods. Several investment proposals that had slowed over the past year after high tariffs were imposed by US President Donald Trump are now regaining momentum.Close to a…
The Centre’s fiscal deficit stood at Rs 9.8 lakh crore at the end of January, accounting for 63 per cent of the full-year Budget target for 2025-26, according to data released by the Controller General of Accounts (CGA), PTI reported.The deficit level was lower compared with 74.5 per cent of the annual target recorded during…
Foreign direct investment (FDI) into India increased 18 per cent year-on-year to $47.87 billion during April-December 2025-26, with inflows from the United States nearly doubling in the first nine months of the fiscal, government data released on Friday showed.FDI during April-December FY24 had stood at $40.67 billion, PTI reported.In the October-December quarter of 2025-26, FDI…
Deepinder Goyal (File photo) Zomato founder Deepinder Goyal on Friday announced that his new health tech venture, Temple, has secured $54 million in its first funding round from friends and family, and valued at approximately $190 million.“Temple has raised its first round. Friends and family. $54m. Post-money valuation of ~$190m,” said Goyal on X.Temple, which…
State-owned NBCC (India) Ltd will redevelop Delhi Development Authority (DDA) staff quarters in two colonies in the national capital at an estimated cost of nearly Rs 775 crore, PTI reported.In a statement, NBCC said it has signed two separate Memorandums of Understanding (MoUs) with DDA for the comprehensive redevelopment of staff quarters located at Old…
Owning overseas real estate, whether in Dubai, London or Singapore, has become an increasingly popular aspiration among Indian investors. But recent enforcement action has highlighted that foreign property purchases can invite regulatory scrutiny if Foreign Exchange Management Act (FEMA) rules are not followed carefully.Earlier this month, the Directorate of Enforcement conducted searches under FEMA, 1999…
