BUSINESS
India to produce 25% of its oil demand by 2030: Hardeep Puri
At present, five million barrels of petroleum is being consumed in our country every day and it is also increasing by three per cent, which is higher than the global average of nearly one per cent, Puri added. The Union Minister shared this with media at the three-day South Asian Geoscience Conference, GeoIndia 2022, which began at JECC, Sitapura in Rajasthan's Jaipur on Friday.
Securities and Appellate Tribunal sets aside SEBI insider trading order against Atul Kirloskar, Rahul Kirloskar and Nihal Kulkarni
In a statement issued on Friday, Atul Kirloskar, Rahul Kirloskar & Nihal Kulkarni said, "We are delighted to share that the Hon'ble Securities Appellate Tribunal vide its order dated October 12, 2022, has set aside the insider trading order dated October 20, 2020 passed against us by SEBI on the grounds that there was no unpublished price sensitive information (UPSI) and consequently there was no insider trading by us when we had sold shares of Kirloskar Brothers Limited to Kirloskar Industries Limited in 2010."
Adani Agri Logistics secures LoA from FCI for silo complexes
Based on the LoA, AALL will develop and operate state-of-the-art silo complexes at four locations -- Kanpur, Gonda and Sandila in Uttar Pradesh and Katihar in Bihar, in line with the government of India's objective of modernising India's storage infrastructure, creating a total silo storage capacity of 3.5 lakh MT.
India's power demand set to double by 2030: R.K. Singh
"Capital investments would also be required for modernising the power systems and promoting new technologies like green hydrogen, storage, offshore wind etc. to help India achieve its energy transition trajectory. To this end, it is absolutely imperative that the DISCOMS across the country follow prudent and sustainable financial practices to ensure that they are viable," R.K. Singh said.
Nirmala Sitharaman meets EU Economy Commissioner, discusses India's G20 presidency
Nirmala Sitharaman and Paolo Gentiloni discussed issues related to global economy and furthering India-EU collaboration during the G20 India Presidency in 2023. Both sides discussed the need to further strengthen multilateral development banks to enable them to help countries in need.
Bumper Diwali spending of Rs 2.5 lakh crore expected
This substantial inflow of money is also expected to liberate the business community from financial crunch. After two years, the festival of lights will be celebrated with no Covid restrictions which has prompted consumers to throng commercial markets in every city of the country for making purchases for Diwali.
UK Chancellor cutting short US visit compared to 1976 sterling crisis
Adding to signs that the government is preparing to announce a U-turn over its plan to scrap a rise in corporation tax, the Chancellor left the US capital a day earlier than planned, The Guardian reported. Treasury sources said the chancellor had two constructive days in Washington but was keen to get back to London to engage with colleagues over his medium-term fiscal plan, due to be announced on October 31.
Infosys too cracks whip but mulling policy to allow moonlighting
Without elaborating on the numbers, Infosys CEO Salil Parikh said that over the last one year, the company has let go its employees found working with other companies. "Where there are confidentiality issues, we have let them go," Parikh said on Thursday at the press conference announcing the Q2 results.
Wholesale inflation falls to 18-month low in Sep to 10.7%
In September 2021, it had stood at 11.80 per cent. According to the data released by the Commerce Ministry, wholesale food inflation fell to 8.08 per cent in September from 9.93 per cent in August. Inflation for manufactured products slid to 6.34 per cent in September from 7.51 per cent in August.
PhonePe enables Online Dispute Resolution (ODR) platform for UPI
UDIR is an automated, single-channel redressal system designed to seamlessly address customer issues and complaints regarding pending transactions and provide speedy dispute resolution online instead of manual file-based processes.
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