The Reserve Bank of India left its policy rates unchanged in its second bi-monthly monetary policy review for this financial year. The benchmark repo rate, at which RBI lends to banks, is unchanged at 6.5% as the central bank as it took cognisance of rising inflation in recent months. Consumer price index inflation jumped to 5.4% in April from 4.8% the previous month. This “inflation surprise in the April reading […]
On Friday, self-made billionaire Larry Ellison gave a funny and poignant speech filled with life advice to the University of Southern California’s class of 2016. Ellison’s commencement speech was quite the coup for the USC class, but there’s a good reason why he was there. Ellison was granted an honorary doctorate by USC, a Doctor of Humane Letters. He has just donated $200 million to the university, one of the largest […]
The World Bank has dropped the use of developing nation tag for India in its specialised reports and instead classifies it as a “lower-middle-income” economy in South Asia, a top official has said. “In our World Development Indicators publication, we’ve stopped grouping low and middle income countries together as ‘developing countries’. For analytical purposes, India continues to be classified as lower-middle-income economy,” World Bank Data Scientist Tariq Khokhar told IANS. […]
It’s June first and yet another cess gets introduced to the service tax that you pay almost anywhere. After the Swachch Bharat Cess, the Environment Cess, there is now the Krishi Kalyan Cess that comes into action today and is set to increase the overall service tax to 15% for the average Indian who is already overburdened by a myriad of other taxes. While the thought behind generating the Krishi […]
India has been ranked among the 10 wealthiest countries globally with total individual wealth of USD 5,200 billion, but this is largely owing to its large population, a report said, adding that on a per capita basis, the average Indian is “quite poor”. According to the report by New World Wealth, India has been ranked seventh in the list of top 10 wealthiest countries in the world, which was topped […]
For most of us who woke up to the blink and you will miss showers this morning, it was the most exhilarating feeling this morning. Yes most parts of the nation is absolutely parched and is desperate for rains in whatever form they can receive it. Infact a below normal monsoon this year could severely impact growth and other economic indicators in a nation that has already been witnessing drought […]
Apple on Thursday announced the opening of a new office here that will focus on development of digital maps for its products including iPhone, iPad, Mac and Apple Watch. The Californian tech giant said in a statement that this investment will accelerate Maps development and create up to 4,000 jobs. The company, however, did not disclose the quantum of investment that it intends to invest on the facility. “We are […]
As many as three Indian origin persons have been named among 100 highest-paid CEOs globally with PepsiCo’s Indra Nooyi and LyondellBasell’s Bhavesh Patel making it to the top ten list compiled by Equilar. Chemicals company LyondellBasell Industries’ top executive Bhavesh V Patel was ranked sixth on the list with a total compensation of $24.5 million, while Nooyi, the Chief Executive of PepsiCo was ranked eighth on the list with a […]
If you look at the marketplace around you there is one brand that is hard to miss amidst the plethora of international brands. Yes I am talking of Baba Ramdev’s Patanjali products. Be it Big Bazaar or Big Basket, the corner grocery store or the standalone outlets of Patanjali, Baba Ramdev’s ayurvedic solutions from skin care to masala, from detergent to daily needs is giving established MNCs a run for […]
Sunil Mantri(SM): Lot is being heard about Jio. Could you tell what exactly it is? Vinayak Patil(VP): Reliance Jio or simply Jio is a 4G Mobile Telephony and Digital service provider in India. The official name is Reliance Jio Infocomm Limited- RJIL. Jio plans to bring in a digital revolution in India. Jio will provide not just superb quality voice and broadband service but infact create an ecosystem on […]
