Business

NEW DELHI: The Enforcement Directorate (ED) has filed a complaint under the Foreign Exchange Management Act (Fema), 1999 against Myntra Designs Private Limited (Myntra), its related entities, and directors for alleged FDI violations worth Rs 1,654.35 crore, the agency announced Wednesday.The action was initiated by the ED’s Bengaluru Zonal Office based on credible inputs that…

GTRI emphasised that the US-Indonesia agreement should serve as a cautionary example for India. (AI image) India-US trade deal: America’s trade agreement with Indonesia is ‘one-sided’ and India should look to avoid falling into the same trap, the Global Trade Research Initiative (GTRI) has warned. Even as the two countries continue discussions amid US President…

Infosys’ first quarter saw revenue growth of 3.8% YoY and 2.6% QoQ in constant currency (CC) terms. Infosys Q1 results: India’s second-largest IT services major, Infosys, posted a consolidated net profit of Rs 6,921 crore for the first quarter of the current financial year, showing a 9% increase year-on-year (YoY). The company’s operational revenue increased…

Shipbrokers, vessel operators have become hesitant to engage with Nayara this week. (AI image) European Union’s latest round of sanctions on Russian oil have already begun to hit a refinery in India. Oil companies and vessel operators are distancing themselves from India’s Nayara Energy Ltd., following the European Union’s recent sanctions that specifically targeted the…

Due to Pakistan’s poor credit rating at junk level, the nation remains excluded from global capital markets. (AI image) Pakistan’s economy is deeply troubled, and its drowning in debt – its dependency on external support increasing every year. Pakistan got a record $26.7 billion in foreign loans in the previous fiscal year – a fact…

Gita Gopinath (File photo) NEW DELHI: Gita Gopinath, the second-in-command at the International Monetary Fund (IMF), will step down at the end of August to return to her position at Harvard University, the IMF announced on Monday.The timing of Gita Gopinath’s exit has taken many within the IMF by surprise and is believed to have…

Representative image (TOI) The Indian passport has made a strong recovery, climbing eight spots in the latest Henley Passport Index, its strongest jump to date.India now holds the 77th position, an improvement from its 85th ranking last year, this comes after last year saw India drop five places in ranking. The Henley Passport Index evaluates…

The issue came to light after it was reported that vendors in Bengaluru are increasingly declining UPI as a payment mode, asking customers to pay in cash instead. (AI image) Bengaluru GST row: Small scale traders and merchants in Karnataka have expressed grave apprehension following the receipt of GST notifications from the commercial tax authorities…

The 28% year-on-year operational revenue growth was attributed to increased subscription-based merchants. Paytm share price today: One 97 Communications, Paytm’s parent firm, saw its stock price increase by 3.5% on Wednesday, reaching a new 52-week peak of Rs 1,090 on BSE. The share price rise comes on the back of the company achieving a significant…

NITES indicated that the postponement in joining dates by TCS has left these professionals without employment and economically insecure. Tata Consultancy Services (TCS) has delayed onboarding over around 600 experienced lateral hires, sending out a communication about ‘indefinite delay’, sharing no revised timelines for these technology professionals to join the IT giant.Raising the issue with…