BUSINESS
Tomatoes to be sold at Rs 80 per kg from today across country, says govt
Ministry of Consumer Affairs, Food and Public Distribution in a statement said that due to its intervention by selling the vegetable at a concessional rate of Rs 90 per kg at several locations in the country, there has been a slide in its prices.
Net worth dropped for two consecutive quarters under Rare team after Rakesh Jhunjhunwala’s passing
The provisional net worth for Q1FY24 stands at Rs 38,885.3 crore, up 21.6 per cent since the previous quarter, but shareholding filings for the quarter are still pending, Trendlyne reported. Despite a few additions to the portfolio, including a small-cap and a mid-cap company, Rare Enterprises has largely maintained the sector preferences established by Rakesh Jhunjhunwala.
Thanks PM Modi for inviting entrepreneurs like us to France: boAt's Aman Gupta
In a tweet, Gupta said that "no force can stop India as our time has come". "I used to see second and third-generation entrepreneurs at state visits as an official delegation with the Prime Minister but now new-age entrepreneurs like myself are also being invited on such visits," he said.
Adani Group commissions India’s first transnational power project
After the meeting, Gautam Adani said in a tweet: “Honoured to have met Bangladesh PM Sheikh Hasina on full load commencement and handover of the 1600 MW Ultra Super-Critical Godda Power Plant. I salute the dedicated teams from India and Bangladesh who braved COVID to commission the plant in a record time of three-and-a-half years.”
‘Magnificent 7’ stocks make up close to $ 11 trillion in market capitalisation, half of US GDP
These top seven stocks, Amazon, Apple, Alphabet, Meta Platforms, Microsoft, Nvidia and Tesla, are called as the ‘Magnificent Seven’. The Top 7 stocks drove 73 per cent of S&P 500 gains in 1H, each up 90 per cent on average in 1H. These have a market capitalisation of roughly equivalent to half of US GDP.
India-UAE sign MOU to promote local currencies in cross-border trade
In the morning H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, received Narendra Modi, Prime Minister of India, in Abu Dhabi, at the start of his official visit to the UAE. His Highness welcomed the Prime Minister of India and his accompanying delegation.
Indian online skill gamings stakeholders come together to save industry: 1m Indian jobs, 400m Indian users, $2.5b investments
On Tuesday, the GST Council announced to impose a 28 per cent tax on online gaming at the full-face value, shocking the industry and leaving them in significant distress. Currently, the industry is paying 18 per cent GST on GGR/ Platform Fee.
Corporate earnings to determine market direction for coming week
The initial weakness in the domestic market was driven by anticipated soft earnings in the IT sector and negative cues from the US markets.
Sri Lanka need to see INR used as much as USD: President Wickremesinghe
"It makes no difference to us if the INR becomes a common currency. We'll have to figure out how to go about it," Sri Lanka's head of state said while participating as the chief guest at the 'Indian CEO Forum' in Colombo.
India's merchandise trade deficit fell to $20.13bn in June
Merchandise exports in June was at $32.97 billion, while imports were $53.10 billion during the same month. During May, merchandise exports were $34.98 billion, while imports were at $57.10 billion. India's exports were down owing to slowdown in major economies of the world, commerce secretary Sunil Barthwal told media persons.
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