Petroleum Minister Hardeep Singh Puri on Thursday highlighted the role of Public Sector Enterprises (PSEs) in driving India’s remarkable growth story as the country is headed to become the third largest economy in the world. Sharing key statistics to illustrate the remarkable performance, the minister said that the net worth of Central Public Sector Enterprises … Read more
India's sports market is poised to reach $130 billion by 2030 at a compound annual growth rate (CAGR) of 14 per cent, a Google and Deloitte report said on Thursday. The report also projected the creation of up to 10.5 million jobs and $21 billion in indirect tax revenue by 2030. This growth — nearly … Read more
Reliance Industries and Walt Disney on Thursday completed the $8.5 billion merger of their Indian media assets, which have been split into three divisions, with each unit having its own CEO. The companies said the newly formed divisions are entertainment, which houses Reliance's Colours TV channels and Disney's Star; digital, home to online streaming platforms … Read more
The U.S. dollar was poised for big weekly gains on Friday, towering near one-year highs as a hawkish turn from the Federal Reserve chief sent short-term Treasury yields higher, leaving Wall Street and European futures in the red. Asian shares looked to end a brutal week on a steadier note, helped by Chinese data retail … Read more
Oil prices edged down early on Friday as oversupply concerns and demand worries stemming from a stronger dollar outweighed a steep draw in U.S. fuel stocks. Brent crude futures were down 30 cents, or 0.41%, at $72.26 a barrel by 0105 GMT. U.S. West Texas Intermediate crude futures were down 25 cents, or 0.36%, at … Read more
The dollar was headed for its best week in more than a month on Friday, buoyed by expectations of fewer Federal Reserve rate cuts and the view that Donald Trump's policies could further stoke inflation when he assumes office in January. The greenback hovered near a one-year high against a basket of currencies at 106.88, … Read more
The FIIs as per Thursday's data were net sellers in both equity and debt segments, according to data released by the NSDL. In equity segment, the gross buying was of Rs 16344.02 crore against gross selling of Rs 17696.15 crore. Thus, FIIs stood as net sellers of Rs 1352.13 crore in equities. In the debt … Read more
The $4.9 billion India’s IT-flexi staffing industry is poised for a steady 7 per cent annual growth through FY 2024-FY 2026, according to a report on Thursday. The Indian IT-flexi staffing market currently has a workforce of 597,000. Global capability centres (GCCs) demonstrate a higher penetration rate in IT-flexi staffing (8.2 per cent) compared to … Read more
India’s merchandise exports jumped by a robust 17.25 per cent to $39.20 billion during October this year, as compared to $33.43 billion during the same month last year, figures released by the Commerce and Industry Ministry on Thursday showed. The double-digit growth in exports amid the slowdown in global trade was driven by engineering … Read more
Oil India CMD Ranjit Rath said on Thursday that Public Sector Enterprises (PSEs) have a responsibility of not only running a business but doing so with the intent of serving social commitments. Addressing the plenary session at the CII PSE Summit here, the OIL Chairman said: "The collective procurement of PSEs has a huge … Read more