Commerce and industry minister Piyush Goyal on Friday said the government is working on a "holistic decriminalisation law" during the winter session of Parliament to make life easier for businesses. "Decriminalising sections of various laws will end the harassment faced by businesses and reduce compliance burden," he said at the annual session of PHD Chamber of Commerce and Industry.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5ZhoQO9
Reliance Industries' retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market.
Just 14 companies raised Rs 35,456 crore through main-board primary share sales in the first half of the fiscal, down 32 per cent from the year-ago period when 25 issues had mopped up Rs 51,979 crore.
Continuing to weaken against the dollar, the rupee closed at a new life low of 81.94 against the US currency after nearing the 82-level in intraday trades on Wednesday. The rupee had closed at 81.58 Tuesday. Sensex dipped for the sixth straight session, closing 509 points down at 56,598 as foreign funds continued to sell.
The Reserve Bank of India (RBI) is unlikely to extend a Friday deadline for businesses to set up an additional layer of security for consumers' credit card data even after some concerns remain over payments failing and revenue losses, say bankers and merchants.
The department of telecommunications in coordination with telecom service providers and law enforcement agencies has cracked down on 30 entities that were routing ISD calls received through internet illegally to mobile and wireline customers in India.
A global recession is becoming increasingly likely due to stubbornly high inflation and real wages continuing to fall, the World Economic Forum said on Wednesday citing a survey of chief economists from across the world.
Mobile tower giant Indus Towers is learnt to have asked debt-ridden Vodafone Idea to clear outstanding dues and pay every month on time for continuity of business post-November, sources aware of the development said on Wednesday.
Uco Bank and Yes Bank have put in place arrangements with two Russian counterparts as India seeks to step up trade with the sanctioned nation.
Economic affairs secretary Ajay Seth on Tuesday dismissed the concerns over depletion of forex reserve as "overblown" and said India has fairly large reserve to tide over the current situation.
Eve Air Mobility (EAM), founded by Brazilian aerospace major Embraer, has tied up with Gurugram-based Fly Blade India to bring its electric vertical take-off and landing vehicle (eVTOLs) or air taxis to the country within the next five years.
Samsung Electronics is targeting repeat purchases from its 175 million customers in India through a new cashback credit card, a senior executive said, a move to boost sales in the critical market where it was once the top smartphone seller.
India is set to manufacture Apple’s flagship iPhone 14 smartphones with the company confirming that the devices would be made in India at contract-manufacturer Foxconn’s factory in Sriperumbudur, Tamil Nadu. This would perhaps be the quickest scale-up that Apple has initiated in its India manufacturing setup with the latest iPhone being made here within weeks of its global unveiling on September 7.
Within days of releasing the draft telecom bill for public comments, the government has received feedback that penal provisions for violation of norms on privacy of users need to be tightened further. These are expected to be incorporated when the final legislation is drafted.
The rupee breached the 81 level against the dollar for the first time on Friday as markets turned jittery after the Fed's rate hike and escalation of hostilities in Ukraine. The RBI continued to defend the rupee even as reserves dipped to $546 billion, down by $5 billion during the week ended September 16, and $97 billion lower from their peak levels of $642 billion last year.
The days when employees signed up with big tech majors and spent their lives on the job are long gone, minister of state for Electronics and IT and Skill Development, Rajeev Chandrasekhar said on Friday, weighing in on the issue of moonlighting.
Economists are unanimous in forecasting that the central bank has no other option but to deliver a 50 bps rate hike next week and take the terminal rate to 6.25 per cent by December.
Tata Steel will merge with itself six of its subsidiary companies, a statement said on Friday. A proposal in this regard was approved by the Board of the company on Thursday, it said. "The Board of Directors of Tata Steel considered and approved schemes for the proposed amalgamation of six subsidiaries into and with Tata Steel," the statement issued by Tata Steel said.