The Reserve Bank of India (RBI) on Friday proposed revised guidelines for the Lead Bank Scheme (LBS) to streamline operational processes and enhance the effectiveness of the programme introduced in 1969 to coordinate development activities at the district level, PTI reported.The Lead Bank Scheme is aimed at coordinating the activities of banks, governments and other…
A majority of companies are unlikely to reduce salary hikes, even with higher wage bills resulting from the implementation of new labour codes, according to HR heads and compensation experts. However, increments may be moderated in certain sectors, particularly information technology.Costs for benefits such as gratuity, overtime, bonus, and leave encashment have increased after the…
Issuing such approval to Reliance may accelerate Venezuela’s crude shipments. (AI image) Reliance Industries (RIL) has been granted a general licence by the Donald Trump administration that will allow the company to crude oil directly from Venezuela without breaching any existing sanctions, a Reuters report has said.According to the report, this general licence permits the…
Russia might soon return to the US dollar as the Kremlin is weighing the possibility under a set of economic partnership with the Trump government. According to an internal Russian document cited by Bloomberg, The memo, written this year and circulated among senior officials, identifies seven areas where Moscow believes its interests could align with…
Asian stock markets traded in red on Friday, mirroring Wall Street’s downward momentum as tech stocks continued to weigh down investor sentiments. Traders are struggling with concerns over heavy outlays on the artificial intelligence sector. Focus was also firmly on inflation numbers scheduled for release in the United States later in the session.In Hong Kong,…
MUMBAI: HUL has acquired the remaining 49% stake in D2C brand Oziva for Rs 824 crore, making it a wholly-owned subsidiary of the company. HUL bought an initial 51% majority stake in the brand in Dec 2022.Oziva, a plant-based, clean-label consumer wellness brand which focuses on spaces such as lifestyle protein and hair & beauty…
Spot silver advanced 2.1 percent to $76.76 per ounce, recovering after tumbling 11 percent on Wednesday. The US dollar traded largely unchanged against major currencies on Thursday, stabilising following mixed readings from the latest batch of US economic data. A firmer dollar typically makes commodities priced in the greenback costlier for investors using other currencies….
Saudi Aramco Achieves 70% Local Content Milestone in Supply Chain, Boosting Saudi Vision 2030 Saudi Aramco, the world’s largest integrated energy and chemicals company, has announced a major breakthrough in its In-Kingdom Total Value Add (iktva) programme by achieving a 70% local content benchmark in its supply chain, a milestone that underscores the Kingdom’s push…
Piyush Goyal has now clarified that Indian exports would also get the same benefit. India-US trade deal: Commerce Minister Piyush Goyal on Thursday said that Indian apparel exports to the US will enjoy zero tariff access, if the raw material is procured from America. Goyal’s comments assume significance after the recently announced US-Bangladesh trade deal…
India will receive concessional duty access for garments made using American yarn and cotton under the proposed trade agreement with the United States, similar to benefits currently available to Bangladesh, Commerce and Industry Minister Piyush Goyal said on Thursday.The US has reduced reciprocal tariffs on Bangladeshi goods to 19%, though garments attract zero duty only…
