MUMBAI: Sammaan Capital (formerly Indiabulls) shares rose 6% after the RBI approved the acquisition of a controlling stake by UAE-based International Holding Company (IHC) through an initial investment of about Rs 8,850 crore. In a regulatory filing on March 24, Sammaan Capital said RBI had cleared applications related to the proposed transaction involving Avenir Investment,…
BENGALURU: OpenAI, the company behind ChatGPT, has hired former JioStar CEO Kiran Mani as managing director for Asia-Pacific, as the AI firm steps up its regional expansion amid strong user growth in markets including India. Mani is set to join in June. He will report to Jason Kwon and lead regional strategy and operations across…
MUMBAI: The US move to send a 15-point proposal to Iran aiming at ending the war in West Asia, combined with a slowdown in hostilities between the warring nations on Wednesday sent oil prices sliding and precious metals rallying.In late trades on Wednesday, Brent was trading at $97.2/barrel, down 3% on the day. In the…
NEW DELHI: Airbus has for the first time indicated it is open to having a final assembly line (FAL) in India for its 50% owned ATR regional aircraft, given the Modi govt’s unprecedented push for enhancing aerial connectivity of small towns and cities. The European aerospace major is learnt to be in talks with stakeholders…
Gold futures traded higher on Wednesday tracking firm global cues and sustained buying interest in commodity markets. The overall tone in bullion remained positive as investors positioned ahead of key macroeconomic signals and currency movements.On the Multi Commodity Exchange (MCX), gold contracts across near- and far-month expiries posted gains. The June contract was trading around…
British Airways is proposing a new incentive scheme that would reward pilots for reducing fuel burn and carbon emissions, with a potential bonus of up to 1% of basic salary if collective targets are metAccording to a document seen by Bloomberg, pilots would need to collectively cut their aircrafts’ carbon dioxide emissions by 60,000 tonnes…
NEW DELHI: The Central Consumer Protection Authority (CCPA) on Wednesday warned hotels and restaurants of action in case it found them levying additional charges under heads such as “LPG charges,” “gas surcharge,” and “fuel cost recovery” in food bills.The authority issued an advisory invoking provisions of Consumer Protection Act observing that such charges are being…
Investor wealth surged by Rs 15.80 lakh crore over two trading sessions as equities rebounded sharply amid a decline in crude oil prices and growing hopes of de-escalation in the West Asia conflict.Stock markets have been gaining for the past two days, with the BSE Sensex rising 2,577.06 points or 3.54 per cent. On Wednesday,…
The government on Tuesday informed Parliament that the 8th Central Pay Commission (CPC) is examining revisions in pay scales, salaries, allowances and pension structures for central government employees, while consultations with stakeholders are currently under way.In a reply to an unstarred question in the Lok Sabha, minister of state for finance Pankaj Chaudhary said the…
The government on Wednesday extended the mandate for the Reserve Bank of India (RBI) to maintain retail inflation at 4 per cent, with a tolerance band of 2 percentage points on either side, for another five years ending March 31, 2031.The move continues the flexible inflation-targeting framework first introduced in 2016 and retained once earlier…
