Saudi Arabia overtakes Russia to be India’s no 2 oil supplier in August

NEW DELHI: Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed. India, the world’s third biggest oil importer and consumer, shipped in 863,950 barrels per day (bpd) of crude […]

Continue Reading

Vedanta, Foxconn to invest Rs 1.54 lakh crore in Gujarat

AHMEDABAD: A joint venture of the Indian conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn signed a Memorandum of Understanding with the Gujarat government on Tuesday to set up a semiconductor and display manufacturing unit in the state. Vedanta-Foxconn would invest Rs 1,54,000 crore to set up the facility in Gujarat, which would create one […]

Continue Reading

Retail sales in shopping malls to grow 29% annually to reach $39 billion by FY28

NEW DELHI: Retail sales in shopping malls across top eight cities are expected to grow 29 per cent annually to reach USD 39 billion by 2027-28 fiscal on consumption growth and opening of new malls, according to a property consultant. Knight Frank on Tuesday released a report ‘Think India, Think Retail 2022 – Reinventing Indian […]

Continue Reading

Many countries interested in bilateral rupee trade: India

NEW DELHI: Finance Minister Nirmala Sitharaman on Tuesday said many countries have evinced interest for bilateral trade in the rupee after the RBI announced a mechanism recently. Speaking at Hero Mindmine Summit, she said this along with other steps taken by the government is towards full capital account convertibility. “It isn’t the ruble-rupee which was […]

Continue Reading

Anti-cancer drugs, anti-infectives among 384 drugs included in NLEM 2022

NEW DELHI: Thirty-four drugs, including some anti-infectives such as Ivermectin, Mupirocin and Nicotine Replacement Therapy, have been added to the National List of Essential Medicines taking the total drugs under it to 384. Several antibiotics, vaccines and anti-cancer drugs will become more affordable by their addition to the list. However, 26 drugs such as Ranitidine, […]

Continue Reading

Oil prices at 7-month low, but no change in petrol, diesel prices in India

NEW DELHI: International oil prices have hit a seven-month low but there is no change in retail selling price of petrol and diesel in India as state-owned fuel retailers recoup losses incurred for holding rates for a record five months despite rising cost. International benchmark Brent crude fell below USD 90 per barrel last week […]

Continue Reading