NEW DELHI: Asserting that “India will not bow down to anybody”, commerce and industry minister Piyush Goyal said on Friday that countries will restructure their trade routes and partners.“The world keeps evolving, international trade keeps finding new pathways. What we are seeing today is possibly a churn that is bound to happen every few years […]
Railways launches 20% rebate on return tickets to ease Diwali-Chhath festival rush
NEW DELHI: In a bid to manage the heavy rush during the Diwali and Chhath festival season, railways has introduced a new experimental scheme “Round Trip Package”, offering a 20% rebate on the fare of the return journey for passengers booking both onward and return tickets together. The initiative aims to spread out passenger traffic […]
Arriving in Delhi! Tesla to open second India Showroom – check date and other details
Elon Musk‘s Tesla is set to expand its India footprint, with its second showroom opening in Delhi on August 11, less than a month after the electric carmaker debuted in Mumbai.Announcing the move on social media platform X, Tesla posted: “Arriving in Delhi – stay tuned,” along with a sleek graphic teasing its arrival in […]
US duty bump jolts JLR, dents Tata Motors profit in Q1
MUMBAI: The profitability of Tata Motors‘ cash cow, Jaguar Land Rover, was hit by tariffs imposed by US President Donald Trump, resulting in a 30% fall in the overall profitability of the Indian company. Outgoing JLR chief Adrian Mardell anticipates new trade deals signed between the US and the UK, effective June 30, and between […]
US tariffs: Shoemakers take measured steps
MUMBAI: At the heart of India’s non-leather footwear manufacturing hub in Tamil Nadu where global brands such as Nike, Puma, Crocs and Adidas are pouring in several thousand crores of investments, there is worry over the looming US tariff threat of 50%. Brands are looking to reroute some of their orders to the US through […]
‘Treat independent directors as stewards of accountability’
NEW DELHI: There is a need to redefine the role of independent directors, and company boards must treat them as “stewards of accountability” and not as honorary appointees, Sebi chairman Tuhin Kanta Pandey said on Friday. He called on boards to equip themselves to meet the challenges of the future.“They must be viewed and treated […]
SBI’s Q1 net rises 10% to Rs 21k cr on strong treasury, forex gains
MUMBAI: State Bank of India reported a 9.7% year-on-year rise in consolidated Q1 FY26 profit to Rs 21,201 crore, driven by robust treasury and forex income. Standalone net profit increased to Rs 19,160 crore from Rs 17,035 crore that was recorded a year earlier.Advances grew 11.6% YoY, but core net interest income slipped 0.1% to […]
‘Legal issues make reverse mortgage unsuitable’
MUMBAI: HDFC Bank MD & CEO Sashidhar Jagdishan told shareholders at the bank’s annual general meeting that reverse mortgage loans do not work in the Indian context because of “various legal and operational issues.” He added, “I’m not aware of any bank currently offering it. One bank did in the past, but they have stopped. […]
Monsoon session: New version of I-T bill to be tabled on Monday
NEW DELHI: Govt will introduce a fresh version of the Income Tax bill on Monday, incorporating the recommendations of the Select Committee of Parliament. The new bill was approved by the cabinet on Friday as finance minister Nirmala Sitharaman withdrew earlier version of the I-T bill 2025, which was introduced in Lok Sabha in Feb […]
India top market for Malaysia Air, eyeing non-metros: Group MD
MUMBAI: India has emerged as the single biggest market for Malaysia Airlines Berhad and the carrier has added capacity in this market by pulling out its flights from the Asean and domestic networks. Currently operating 77 weekly flights to 10 cities in India, the airline has flown 13 lakh people in & out of the […]