The government on Friday scrapped a minimum price threshold that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers. The government had previously fixed a $550 per tonne as the minimum export price (MEP), which essentially meant farmers could not sell their produce overseas at lower than this rate.
Posts tagged Rediff
Sensex, Nifty settle lower in volatile trade (13-09-2024)
Adani Ports was the biggest loser in the Sensex pack, declining 1.37 per cent, followed by ITC, Bharti Airtel, NTPC, Maruti, Asian Paints, Sun Pharma, Power Grid, Hindustan Unilever and Larsen and Toubro. In contrast, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Tata Steel, Axis Bank and Tech Mahindra were among the gainers.
Ford will use Chennai manufacturing plant for exports (13-09-2024)
American auto major Ford Motor on Friday said it is preparing to utilise its Chennai manufacturing plant to roll out vehicles for exports and has intimated the same to the Tamil Nadu government. Minister for TRB Rajaa, who is in the United States accompanying the Chief Minister M K Stalin to woo investors, said the efforts of the Chief Minister to reposition ‘Brand Tamil Nadu’ in its Numero Uno place has yielded rich dividends.
PwC US to cut 1,800 jobs, its 1st layoffs in 15 years (13-09-2024)
The US unit of PwC will lay off about 1,800 workers, marking its first formal job cuts since 2009 as the company seeks to restructure its technology group. This comes amid a slowdown in demand for some of its advisory business, according to a Wall Street Journal report. Half of the anticipated layoffs will target offshore positions, impacting a wide range of employees from associates to managing directors.
‘Want to build best housing finance company of future’ (13-09-2024)
‘Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.’
A vital cog in India’s development journey (13-09-2024)
Given the high priority accorded to the manufacturing sector, several policy initiatives around the theme of Atmanirbhar Bharat have been set in motion to address its competitiveness and growth. Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget. The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
Adani-Hindenburg row: Swiss banks freeze $310 mn (13-09-2024)
Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into Adani Group, US-based short seller Hindenburg Research claimed citing media report – a charge that the conglomerate vehemently denied. In a post on X, Hindenburg cited “newly released Swiss criminal records reported by Swiss media outlet” to state that “Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021.”
How SBI plans to mobilise incremental deposits (13-09-2024)
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
WhatsApp’s Plan For Small Businesses (13-09-2024)
Meta announced a first-of-its-kind initiative called ‘WhatsApp Bharat Yatra’, where the company will go to Tier-II and Tier-III cities to provide on-ground, in-person training to small businesses.
It’s Raining Discounts On Cars! (13-09-2024)
‘We are seeing one of the highest discounts in recent years across companies.’ ‘October is a crucial month with several festivals coming up.’