Business

A Parliamentary panel has raised alarm over the “existential threat” posed by severe staffing shortages at the Directorate General of Civil Aviation (DGCA) and pressed for granting the regulator both financial and administrative autonomy through a time-bound plan.The Department-Related Parliamentary Standing Committee on Transport, Tourism and Culture, chaired by JD(U) leader and Rajya Sabha MP…

The Centre has proposed exempting individual life and health insurance policies from GST, Bihar Deputy Chief Minister and convenor of the Group of Ministers (GoM) on insurance Samrat Choudhary said on Wednesday. At present, insurance premiums attract 18% GST.“The Centre’s proposal is clear that the individual insurance policies should be exempt from GST. This has…

Chinese internet major Baidu reported a fall in quarterly revenue on Wednesday, hit by sluggish domestic consumption even as the company ramped up its artificial intelligence drive and overseas robotaxi ambitions.Baidu posted revenue of 32.7 billion yuan ($4.56 billion) in the April-June quarter, a 4% year-on-year decline, according to its filing with the Hong Kong…

What’s so rare about rare earth magnets NEW DELHI: China has decided to lift the curbs on export of rare earth magnets to India, in a relief to industries, such as automobiles (especially electric vehicles manufacturing), renewable energy (wind turbines), consumer electronics, defence and aerospace, and healthcare.What’s the meaning of rare earth magnets?Rare earth magnets…

MUMBAI: The government’s planned GST overhaul has drawn mixed assessments from HSBC, S&P and SBI, with estimates of a potential revenue gap ranging from Rs 60,000 crore to Rs 1.43 lakh crore, though the actual fiscal impact remains uncertain. HSBC warned of a $16 bn (Rs 1.43 lakh crore, or 0.4% of GDP) shortfall if…

The festive season in India always brings a surge in train ticket demand, as migrant workers head home for Durga Puja, Dussehra, Diwali and Chhath.The change, effective November 1, 2024, has intensified the scramble for seats and creating confusions on the actual right time to book tickets ahead of the festive season, when demand traditionally…

China’s exports of rare earth magnets bounced back strongly in July, climbing to a six-month high and signalling that trade flows of the critical minerals essential for electric vehicles have returned to levels seen before Beijing tightened export controls.Data released by the General Administration of Customs on Wednesday showed that exports from the world’s largest…

Infosys bonus distribution covered employees at levels 4, 5 and 6, comprising the majority of the organisation’s 323,000 workforce. Infosys, India’s second largest IT services firm, has distributed performance bonus letters to qualifying staff members for the April-June (Q1FY2025-26) quarter. The IT giant is paying out a significantly higher average bonus compared to the previous…

The new scheme focuses particularly on manufacturing whilst encompassing all sectors to boost job creation and social security measures. (AI image) What is Pradhan Mantri Viksit Bharat Rozgar Yojana? The Narendra Modi government’s new Employment-Linked Incentive Scheme, officially titled Pradhan Mantri Viksit Bharat Rozgar Yojana, has been launched with an aim to provide comprehensive employment…

NEW DELHI: Chandigarh Police’s Cyber Crime unit arrested a 34-year-old man from Mumbai for allegedly defrauding a city resident of Rs1.3 crore through an elaborate WhatsApp impersonation scam. The accused, identified as Joshua Oscar Nevis, allegedly posed as the victim’s employer and tricked him into transferring the money. Fraud via WhatsApp Impersonation According to officials,…