Business

Track the latest in business and finance—from market trends and economic updates to startup stories and global trade analysis.

No more shortcuts! Roads ministry tightens stricter rules for highway projects; aims to ensure quality, speed

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NEW DELHI: The ministry of roads has implemented stricter qualification requirements for bidding on road projects under hybrid annuity model (HAM) and engineering, construction and procurement (EPC) mode. These enhanced criteria aim to ensure superior construction quality of highways and expressways whilst securing timely project completion.The revised guidelines, detailed in a circular from the ministry … Read more

Flipkart to launch $50 million employee stock buyback; over 7,000 staff may benefit – check details here

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NEW DELHI: Walmart-owned Flipkart has announced a $50 million employee stock buyback plan that will benefit approximately 7,000–7,500 employees. The move comes as the ecommerce major prepares for a potential IPO filing next year.The buyback will allow employees to liquidate up to 5% of the stock options vested between July 6, 2022, and July 5, … Read more

Air India plane crash: What are the fuel control switches under scrutiny? What they do and why they matter

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Air India plane crash: The preliminary report on the Air India Flight AI171 crash has found that both engines of the Boeing 787-8 Dreamliner lost power just three seconds after takeoff from Ahmedabad due to a brief but sudden cutoff in fuel supply. The unexpected engine shutdown led to the accident that killed 260 people, … Read more

Oil jumps over 2% on tighter market outlook; Brent posts 3% weekly gain; US tariffs, Russia sanctions in focus

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Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) said the global market may be tighter than it seems, supported by strong summer demand. Meanwhile, concerns over new US tariffs and possible fresh sanctions on Russia also added upward pressure.Brent crude rose $1.72, or 2.5%, to settle at $70.36 per … Read more

Air India plane crash: Boeing says it ‘continues to support probe’; after AAIB releases preliminary report outlining final moments

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NEW DELHI: Boeing on Saturday said it continues “to support the investigation” into the Air India Flight AI171 crash, shortly after the Aircraft Accident Investigation Bureau (AAIB) released its preliminary report on the June 12 tragedy in Ahmedabad.“Our thoughts remain with the loved ones of the passengers and crew on board Air India Flight 171, … Read more

India-US trade deal: Donald Trump administration may cut tariff to below 20%; putting India in favourable position against other countries

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India-US trade deal: United States is working toward an interim trade agreement with India that could reduce proposed tariffs to below 20%. This would give India a more favourable position compared to other countries in the region.Unlike many nations, India is not expected to receive a formal tariff hike notice this week, and the agreement … Read more

Sweeping rate cuts on table at next GST Council meet

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NEW DELHI: The GST Council, which will meet shortly, is expected to comprehensively review the eight-year-old regime focused on reducing tax on several consumer-focused items in the 12% bracket as well as lowering the burden on items such as air conditioners, which are in the top bracket.Besides, with the compensation cess – money released to … Read more

Government offers up to Rs 9.6 lakh worth of incentives on electric truck purchase

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H D Kumaraswamy (File photo) NEW DELHI: Union minister H D Kumaraswamy on Friday launched the first scheme to provide customer facing incentives on purchase of electric trucks of up to Rs 9.6 lakh per vehicle as part of govt’s PM E-DRIVE initiative, which has earmarked Rs 500 crore for electric trucks out of its … Read more

Tesla’s 1st India showroom opens next week

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Tesla will open its first showroom in India on Tuesday and begin deliveries as early as next month, people familiar with the matter said, as the Elon Musk-led electric vehicle maker looks to tap potential demand in the third-largest automobile market to counter slowing sales elsewhere.The opening of the Mumbai showroom will mark the formal … Read more

Rural India shops brands, urban goes beyond labels

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MUMBAI: The grocery bag of urban and rural shoppers is undergoing a divide. Urban Indians are gravitating towards unbranded products in select categories and are also experimenting with new-age brands, while rural consumers are taking to legacy FMCG brands. While there is a big market for unbranded goods in rural, it is losing out to … Read more