The Congress party has recently intensified its scrutiny of Madhabi Puri Buch, the current chairperson of the Securities and Exchange Board of India (Sebi), accusing her of a potential conflict of interest due to her rental income from an entity linked to the pharmaceutical company Wockhardt. Continue Reading
Business
Japanese automakers Toyota and Maruti Suzuki are ramping up marketing efforts for their hybrid vehicles in Uttar Pradesh, leveraging recent state tax waivers that offer significant savings to buyers. The tax incentives, which allow customers to save up to $15,800 on luxury models like the Toyota Vellfire, have led to a surge in showroom enquiries, […]Continue Reading
The Manappuram Unique Times Business Excellence Awards have been unveiled, celebrating remarkable achievements across diverse business sectors. These esteemed awards highlight individuals who have exhibited exceptional performance and leadership in their respective industries. In the hospitality sector, Mrs. Mini Sajan has been awarded the Excellence in Hospitality Continue Reading
In a significant boost to India’s semiconductor industry, the Union Cabinet has sanctioned a Rs 3,300 crore proposal from electronics manufacturer Kaynes to establish a state-of-the-art semiconductor packaging plant. The new facility, to be located in Sanand, Gujarat, is expected to have a daily production capacity of 6.3 million chips. Union Minister Ashwini Continue Reading
Adani Ports and Special Economic Zone Ltd (APSEZ) has announced the acquisition of an 80% stake in Astro Offshore for $185 million in an all-cash deal. The transaction, which values Astro at $235 million, is set to enhance APSEZ’s global marine portfolio and bring new Tier-1 customers into its network. The remaining 20% stake will […]Continue Reading
Mumbai has emerged as the new billionaire capital of Asia, surpassing Beijing, according to the Hurun India Rich List 2024. The city is now home to 25% of India’s wealthiest individuals, registering a net increase of 58 billionaires, bringing the total to 92. This marks a significant shift in the region’s wealth distribution, with New […]Continue Reading
In a landmark decision, India’s Competition Commission (CCI) has approved Reliance Industries Ltd’s Rs 70,350-crore merger with Disney’s Indian media assets, paving the way for the formation of a major entertainment conglomerate. The approval is granted subject to certain voluntary modifications aimed at mitigating competitive concerns, particularly in Continue Reading
Union Road Transport & Highways Minister Nitin Gadkari has announced that several vehicle manufacturers will offer discounts on new commercial and passenger vehicles in exchange for scrapping older models with a valid Certificate of Deposit. This initiative aims to enhance the Circular Economy by promoting the adoption of cleaner, safer, and more efficient vehicles. Continue Reading
The Nifty Pharma index surged to a record high of 22,587.95 on Wednesday, outperforming the Nifty 50 benchmark by rising 10% over the past month. Divi’s Laboratories led the gains, climbing 3.76% following a favorable US court ruling on a drug. Other major contributors, including Dr. Reddy’s Laboratories, Glenmark Pharma, Zydus Life, and IPCA Labs, […]Continue Reading
M. Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), has advocated for a periodic upward revision of the uniform deposit insurance coverage of ₹5 lakh per depositor. Speaking at the IADI Asia-Pacific Regional Committee International Conference, Rao emphasized that India’s economic growth and increasing formalisation of the financial sector could soon widen Continue Reading