India has no immediate plans to lift a ban on wheat exports, but will continue with deals which are done directly with other governments, commerce minister Piyush Goyal told Reuters. The world's second biggest producer of wheat banned private overseas sales of the grain on May 14 after a scorching heat wave curtailed output and domestic prices hit a record high. Global wheat prices surged after the decision.

IndiGo’s loss for the January-March 2022, quarter ballooned to Rs 1,681.8 crore, up 47% from a loss of Rs 1,147.2 crore, due to a mix of factors like the Omicron wave, costlier jet fuel and weaker rupee. IndiGo’s FY 2022 net loss of Rs 6,161.8 crore is 6% higher than last fiscal’s loss of Rs 5,806.4 crore.

Twitter Inc will face skeptical shareholders on Wednesday during its annual meeting, as doubt remains over whether the company will complete its deal to be acquired by billionaire Elon Musk at the agreed-upon price. The Tesla chief executive tweeted on May 13 that the $44 billion acquisition was "temporarily on hold" while he sought more information about the proportion of fake accounts on Twitter.

India's palm oil imports could fall 19% to the lowest level in 11-years as soyoil, now cheaper, takes more market share because of Indonesia's curbs on palm oil exports and New Delhi's move to allow duty-free imports of soyoil, dealers said.

The price of foods, fuels and other essential items are spiraling ever upward as Russia’s war on Ukraine compounds supply-chain woes stemming from the pandemic.

Hundreds of SpiceJet airlines passengers were stranded at various airports due to a ransomware attack that impacted the morning flight departures on Wednesday. "Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT team has contained and rectified the situation," SpiceJet tweeted.

Social media stocks lost more than $135 billion in market value Tuesday after Snap Inc.’s profit warning, adding to woes for a sector that is already reeling from stalling user growth and rate-hike fears.

Zoho's investment is aimed at helping Genrobotics achieve the scale needed to eradicate manual scavenging in India and provide safety and dignity to workers in the sanitation and oil and gas industries.

India's equity markets will mark their first annual decline in seven years in 2022 as higher interest rates and weakening growth prospects reduce the chances of a quick rebound from this year's already sharp drop, a Reuters poll showed. India's benchmark BSE sensex has fallen nearly 7% so far this year and around 12% since this year's high of 61,475.15 on January 18.

Elon Musk, the world’s richest person, saw his fortune drop Tuesday by 5.4% to $192.7 billion as shares of Tesla Inc. slid almost 7%. While Musk’s wealth is the lowest it’s been since August 26, the Tesla co-founder is still easily the richest of the handful of people worth at least $100 billion, according to the Bloomberg Billionaires Index.

Four listed firms of the Kishore Biyani-led Future Group on Tuesday expressed their inability to convene a board meeting before May 30 to approve their financial results for the March quarter and FY22 on account of vacant positions on their respective boards.

Commerce and industry minister Piyush Goyal on Tuesday exhorted Indian industry to procure locally wherever there is an opportunity so that domestic supply chains are fortified and become more resilient and the tendency to place excessive dependence on international supply chains is curbed.

Aditya Birla Fashion and Retail (ABFRL) is set to raise up to Rs 2,195 crore from Singapore’s sovereign wealth fund GIC.

The listing day pop contrasts with last week’s debut of LIC, which dropped 7.8% on its first trading day after an IPO that raised a record $2.7 billion. Delhivery’s positive start may provide encouragement for companies waiting to tap capital markets amid ongoing global volatility.

Parle Products, which had first entered the atta market two decades ago as a backward integration for its biscuit manufacturing, re-entered the category a couple of years ago. South’s contribution in the branded and packaged atta market is higher at 27%, said industry sources.

Medley Pharma, the privately held Mumbai-based company, is on the block. Drug majors like Cipla, Dr Reddy’s, KKR-backed JB Chemicals, and Torrent, along with marquee private equity investors Advent, Carlyle and Blackstone are seen as potential buyers for its Rs 1,000-crore business.

Bank of India (BoI) reported a net profit of Rs 606 crore for the March quarter, an increase of 142% over Rs 250 crore in the year-ago period. The bank’s net profit for FY22 was Rs 3,405 crore, a 57% jump over Rs 2,160 crore in the previous year.

State-run Coal India will open this year what is expected to become one of the country's biggest coal mines, officials said, as India struggles to keep pace with surging power demand.

Tata Steel is concerned New Delhi's sudden decision to impose an export tax on some steel products could force it to review its production targets, if the levy remains in place for a long time, its CEO told Reuters on Tuesday.

The government on Tuesday announced a curb on export of sugar beyond 100 lakh tonnes (MTs) during this sugar season ending September. The government said this has been done considering the high increase in exports of the sweetener in the past few months.

Amid a crushing coal crunch, India’s largest electricity producer NTPC is looking at ramping up Black Diamond production by 86% to 26 million tonnes (mt) from its captive mines in the current financial year, even as the power ministry has raised the requirement of domestic coal for the sector by 10% to 742 millions tonnes.

The government on Tuesday exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soyabean and sunflower oil, to ease domestic prices.

Credit card spending online was nearly Rs 30,000 crore more than the spending done through swipes at points of sale in March, indicating an increased preference among people for e-commerce purchases.

Is the job market moving from the `Great Resignation’ phase to a `Great Layoff’ phase? The US Fed’s interest rate increases have led to a pullback of global capital flows, impacting the liquidity of startups. That in turn is pushing many startups to cut costs by laying off employees. are signs of this in the startup world, though not yet in the broader tech world.

It isn’t just consumers and small businesses that stand to benefit from Saturday’s duty cuts on fuel, steel and plastics. Even the Centre’s flagship schemes — such as the Jal Jeevan Mission (the scheme to provide tap water to every household) — that have been impacted due to a steep rise in prices in recent months, may benefit

Men and women are wired differently. But the spotlight on leadership models that are followed have been largely male-oriented as men account for a majority of C-suite executives. Now in a first-of-its-kind study to understand what model of leadership women follow, ‘transformative leadership’ — which involves behavioural traits such as agility and curiosity — has emerged as the dominant one.

A day after announcing a hefty fuel tax cut, Union finance minister Nirmala Sitharaman on Sunday said the two rounds of duty reductions—the last one being in November—will cost the exchequer Rs 2.2 lakh crore annually and the states’ share from the tax pool will not be affected as the Centre had opted to cut cess on petrol and diesel, which are outside the divisible pool.

The excise duty cut will translate into a reduction of Rs 8.69 a litre on petrol in Delhi and Rs 7.05 per litre in diesel after taking into account its impact on other levies. Petrol in the national capital now costs Rs 96.72 a litre as against Rs 105.41 previously. Diesel is now priced at Rs 89.62 per litre as opposed to Rs 96.67 earlier, a price notification from state-owned fuel retailers showed.

New Delhi, May 22 (PTI) Exodus of foreign money from the Indian equity markets continues unabated with FPIs pulling out over Rs 35,000 crore so far this month on concerns over the prospects of more aggressive rate hike by US Fed and appreciation of the dollar.

The Centre on Saturday slashed excise duty by Rs 8 on petrol and Rs 6 on diesel to bring down fuel prices and ease inflation by reducing transportation charges for the Aam-Aadmi’s daily staples. The government also announced a Rs 200 subsidy on LPG for consumers who were given connection free of cost under the Ujjwala programme, one of the Narendra Modi government’s flagship social welfare schemes launched in 2016.

Among the sectors, manufacturing saw a 76% jump with inflows during 2021-22 estimated at $21. 3 billion,‘Computer software and hardware’ was the most attractive sector cornering around a quarter of the pie, followed by services and automobiles (12% each).

​​It’s a similar story at the office of a tech startup in South Delhi. “I usually order the filet-o-fish from McDonald’s for lunch because it’s light compared to a chicken burger. But our office peon has been returning empty-handed. He says it’s not available at any outlet,” said Bipul Dutta, a graphic designer.

The airline will begin working on anchor investors for its public offering, 75% of which will be for QIBs, meaning Rs 2,700 crore will come from institutional investors. Everything was in place to open the IPO last December but that had to be deferred due to various reasons like Omicron.

Jet 2. 0 plans to resume operations in a hybrid mode (having features of both a budget and full-service carrier, or FSC) using brand new planes, say people in the know. The proving flight was conducted on a Boeing 737 that was used by Jet 1. 0, then taken over by SpiceJet and is now back with the former. Jet was launched in 1993 as an FSC and later acquired Air Sahara in 2007 — a financial burden from which it never recovered and eventually collapsed over three years ago.

The latest surge was led by sensex heavyweight Reliance Industries that closed over 6% higher. Other top contributors to the index’s gain were HDFC Bank, ICICI Bank and HDFC, BSE data showed.

There have been multiple factors driving down the RBI’s surplus this year. A major cost for RBI was the interest that is paid to banks on money that they parked with it under the liquidity adjustment facility.

The RBI has also taken a hit on its foreign investment as the value of debt securities fell due to the rise in interest rates. It has also had to spend over $40 billion of its reserves to stem volatility in the market and will need to set aside more money to replenish reserves.

Commerce and industry minister Piyush Goyal will lead the delegation of ministers, chief ministers and business leaders at the World Economic Forum (WEF) in Davos from May 23-25, an official statement said on Friday.

Digital financial services firm One97 Communications, which operates under the Paytm brand, on Friday reported widening of its consolidated loss to Rs 761.4 crore for the quarter ended March 2022 on account of rise in payment processing charges and employees benefit expenses.

Compressed natural gas (CNG) consumers in Delhi-NCR (national capital region) are unlikely to get any respite anytime soon as Indraprastha Gas Ltd (IGL) may have to revise rates every month as a result of a new gas allocation guideline, even as the company is looking at reducing cost of operation to soften the blow for consumers.

Coal-fired electricity generation has registered a sharp increase this month, preventing large-scale blackouts as the the power, coal and railway ministries made a concerted bid to improve fuel supply to power stations from domestic sources and imports.

Bose was earlier placed under suspension by the company's board on March 31 when it appointed an independent forensics firm to look into alleged financial irregularities. The board says that on April 11, after being placed on suspension, Bose brought to their attention certain harassment complaints against investors, and a consulting firm was also appointed to look into the claims.