The rupee appreciated 24 paise to settle at 85.48 against the US dollar on Friday, supported by strong foreign fund inflows and firm domestic equity markets.At the interbank foreign exchange, the rupee opened at 85.50 and moved between 85.43 and 85.65 during the day before closing at 85.48 (provisional), up from its previous close of…
NEW DELHI: India can boost employment in labour-intensive sectors by over 13% by 2030 through targeted investment in formal skilling, according to a paper by the National Council of Applied Economic Research (NCAER). The study argues for a multi-pronged policy push to improve workforce quality and bridge the country’s employment gap.The paper, titled ‘The Landscape…
Reliance Jio and Bharti Airtel together accounted for over 99.8% of all new telecom subscribers in May, helping India’s total telecom subscriber base rise marginally to 120.7 crore, according to the latest data from the Telecom Regulatory Authority of India (Trai).The sector added a total of 43.58 lakh net subscribers in May, with Jio and…
State-run Coal India Ltd (CIL) on Friday said it will invest more than Rs 1,067 crore in Talcher Fertilizers Ltd (TFL) by subscribing to equity shares through a rights issue, marking a significant step towards realising India’s first coal gasification-based ammonia urea plant.TFL was set up in 2015 as a joint venture between GAIL (India)…
India’s foreign exchange reserves slipped by $1.01 billion to $697.93 billion in the week ended June 20, according to the Reserve Bank of India (RBI)’s latest data released on Friday.The decline reverses the previous week’s trend, when reserves had jumped by $2.29 billion to reach $698.95 billion. India’s reserves had hit an all-time high of…
India’s external debt rose 10% to $736.3 billion at the end of March 2025 from $668.8 billion a year earlier, according to data released by the Reserve Bank of India (RBI) on Friday. The debt-to-GDP ratio also inched up to 19.1% from 18.5% in FY24.The increase includes a $5.3 billion valuation impact due to the…
State-run Mazagon Dock Shipbuilders Limited (MDL) has announced its first international acquisition, signing a deal worth up to $52.96 million to acquire a controlling stake in Sri Lanka’s Colombo Dockyard PLC (CDPLC). The strategic move is seen as a major step in expanding India’s maritime influence in the Indian Ocean Region amid China’s growing footprint.MDL,…
India on Friday banned imports of certain jute products and woven fabrics from Bangladesh through all land routes, permitting entry only via the Nhava Sheva seaport in Maharashtra, amid increasingly strained relations between the two nations.The Directorate General of Foreign Trade (DGFT), in a notification, said “Import from Bangladesh shall not be allowed from any…
Nike shares surged 15% at the opening bell Friday after the company announced a shift in production away from China, even as it warned that tariffs imposed by the Trump administration will cost it about $1 billion (roughly Rs 8,300 crore) before internal adjustments take effect.The US sportswear giant said it will begin implementing “surgical”…
The Employees’ State Insurance Corporation (ESIC) on Friday relaunched the SPREE scheme to bring unregistered employers and left-out workers under the ESI Act, as part of a broader push to improve compliance and reduce litigation.The Scheme to Promote Registration of Employers/Employees (SPREE), originally introduced in 2016, has so far enabled over 88,000 employers and 1.02…
