Gautam Adani’s business loses $50 bn in market value after short seller report

Mumbai: The value of Gautam Adani’s business empire has crashed by more than $50 billion this week since Hindenburg Research, a US firm that makes money from short selling, published a blistering report accusing it of fraud. India’s Adani Group has denounced Hindenburg’s allegations as “baseless” and “malicious,” and it is considering legal action. But […]

All govt vehicles older than 15 years to be scrapped from April: Centre

New Delhi: From April, all government vehicles that have completed 15 years will automatically lose their right to ply on roads as their certificate of registration will expire, according to a new rule of the central government. In an effort to weed out old, polluting and potentially less-safe vehicles from Indian roads, Nitin Gadkari-led Ministry […]

India gains 26 spots on mobile download speeds globally

New Delhi: As India rolls out 5G slowly but steadily, the country went up 26 spots in rank globally for median mobile speeds, from 105th in November 2022 to 79th in the month that followed, a report showed on Friday. Median mobile download speeds in India increased from 18.26 Mbps in November to 25.29 Mbps […]

Rs 10 lakh fine on Go First for B’lore airport incident

New Delhi: Aviation regulator DGCA on Friday imposed a Rs 10 lakh fine on Go First for the incident wherein 55 passengers were left behind in a passenger coach at Bangalore airport on January 9. The Directorate General of Civil Aviation (DGCA) had issued a show-cause notice to the airline following the incident. “Perusal of […]

IBM cuts 3,900 jobs, misses annual cash target

New York: IBM Corp has announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, dampening cheer around beating revenue expectations in the fourth quarter. Chief Financial Officer James Kavanaugh told Reuters that the company was still “committed to hiring for client-facing research and development”. The layoffs – related to […]

Russian oil exports to India likely to hit new highs as interest grows

New Delhi: India’s oil processors are open to buying even more Russian crude if the price is right, said refinery executives, potentially providing a bigger outlet for Moscow almost a year after its invasion of Ukraine. The South Asian nation increased Russian oil imports in 2022, ending the year with record monthly volumes as discounted […]

Digital currency to further bolster digital economy, says RBI

Chandigarh: Digital currency will further bolster the digital economy, make payment system more efficient, reduce cost involved in physical cash management and also contribute to further financial inclusion, RBI Executive Director Ajay Kumar Choudhary said on Wednesday. Chaudhary was addressing an outreach seminar on ‘Central Bank Digital Currency: The India Story’ organised by the Reserve […]

Amid conducive climate, beekeeping has tremendous potential in Kashmir: Dir Agri

Srinagar: “Kashmir has a tremendous potential for bee keeping because of its conducive climate for beekeeping and diverse forest resources. By exploring this allied wing we can generate a good number of employment opportunities for our young educated farmers, agri-preneurs,” said Director Agriculture Kashmir Chowdhury Mohammad Iqbal in his address to the participants of divisional […]

Adani slips to 4, Bezos enters top 3 in world’s richest people list

New Delhi: Gautam Adani, billionaire and richest Indian and Asian in the world saw a slip in his ranking in the Bloomberg Billionaires Index, reported LiveMint. According to the report, Gautam Adani’s ranking has now slipped to the fourth in the world’s richest list and Amazon’s top boss Jeff Bezos is now the third world’s […]