Korean Air on Monday announced a record-breaking $50 billion order for 103 Boeing aircraft and GE Aerospace engines and servicing, coinciding with South Korean President Lee Jae Myung’s visit to Washington. The purchase marks the largest in the carrier’s history, as per Reuters.The order includes a mix of 787s, 777s and 737s worth about $36.5…
Top IT service firms in the country are diversifying beyond the core US market, opening new centres and making acquisitions in Australia, the Middle East, the Nordics and India.With technology spending on the rise in these geographies, software service providers are setting up nearshore centres to meet local demand and cushion themselves from US market…
Banks across several states will remain closed on Wednesday, August 27 on account of Ganesh Chaturthi. According to the Reserve Bank of India’s (RBI) holiday calendar, banks in Gujarat, Maharashtra, Bengaluru, Odisha, Tamil Nadu, Telangana, Goa and Andhra Pradesh will not be operational for the day. While physical branches will remain closed, customers can continue…
India’s inflation index is set for its biggest makeover in years, with the government preparing to pull price data straight from e-commerce platforms such as Amazon and Walmart-owned Flipkart. The plan marks a decisive shift in how retail inflation will be measured — bringing online shopping, streaming services and digital airfares into the equation.Officials say…
Managing money across borders can be tricky for non-resident Indians (NRIs), especially since they are not allowed to open regular savings accounts in India. To meet their unique needs, banks offer two specialised options — the Non-Resident External (NRE) account and the Non-Resident Ordinary (NRO) account. While both accounts can be held simultaneously, their purpose…
India’s economic prospects remain favourable compared to peers. (AI image) India’s credit rating has been affirmed at ‘BBB-’ with a stable outlook by ratings agency Fitch. The confidence in India’s growth story comes as a booster shot at a time when India faces 50% tariffs from the US for its exports.According to Fitch, India’s ratings…
Jaishankar highlighted how Trump’s methods represent a significant shift, particularly in the use of tariffs for both trade and non-trade purposes. External Affairs Minister S Jaishankar has highlighted that India’s recent experience taught the country the importance of avoiding reliance on a single supply chain or market. He advised industries to adopt diversification as a…
Market analysts anticipate continued support for Indian equities, driven by positive outlook surrounding GST 2.0 reforms. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Monday on positive global cues. While Nifty50 was above 24,900, BSE Sensex was up over 200 points. At 9:17 AM, Nifty50…
MUMBAI: Paving the way for the sale of IDBI Bank, Sebi has approved the reclassification of Life Insurance Corporation as a public shareholder from promoter of the bank once the sale transaction is concluded. The regulator’s nod is subject to conditions, including LIC’s voting rights being capped at 10%, no board representation or control over…
Industry body CII has unveiled a sweeping reform blueprint aimed at accelerating India’s economic transformation, calling for a simplified GST structure, rationalised tariffs, new employment policies, and greater trade competitiveness.The Confederation of Indian Industry (CII), in its report “Policies for a Competitive India”, has put forward over 250 actionable recommendations across 14 critical areas. The…
