NEW DELHI: State-owned power sector financiers Power Finance Corporation (PFC) and REC Ltd on Thursday informed stock exchanges that they are moving ahead with a proposed merger following the 2026-27 Budget announcement, aiming to create a single large govt-controlled financing institution for the electricity sector.In separate but identical regulatory filings, both companies said the combined…
New Delhi: More than 75% of state real estate regulators, Reras, have either never published annual reports, discontinued their publication or not updated them despite statutory obligation and directions from the housing and urban affairs ministry, claimed homebuyers’ body FPCE on Friday. It released status report of 21 Reras as of Feb 13.The availability of…
Software major Infosys on Friday announced an average organisation-wise performance bonus payout of 85% for the quarter ended December (Q3FY2025-26), with a large section of employees receiving higher variable pay, ET reported.Employees will receive the bonus along with their February salary, the company said in an email to staff.The higher payout follows a quarter marked…
Prime minister Narendra Modi on Friday said India now accounts for about 16% of global economic growth and is positioned to become a key driver of world expansion in the coming years.Speaking at the ET Now Global Business Summit, Modi said the current decade has marked a phase of unprecedented development for India despite multiple…
The administration of US President Donald Trump has added several major Chinese companies, including Alibaba and Baidu, to a Pentagon list of firms allegedly supporting China’s military, increasing pressure on Beijing ahead of an expected meeting between leaders of the two countries, according to a Reuters report.The Pentagon’s 1260H list does not directly impose sanctions…
The government on Friday approved the second tranche of the Startup India Fund of Funds Scheme with a corpus of Rs 10,000 crore, aimed at encouraging early-stage startups and deep-tech research, Prime Minister Narendra Modi said in a social media post.On his first day at Seva Teerth, his new office, PM Modi signed files linked…
India’s foreign exchange reserves declined by $6.711 billion to $717.064 billion for the week ended February 6, according to data released by the Reserve Bank of India (RBI) on Friday.In the previous reporting week, the reserves had surged by $14.361 billion to hit an all-time high of $723.774 billion.During the week ended February 6, foreign…
Benchmark equity indices Sensex and Nifty tumbled more than 1 per cent on Friday amid a broad-based selloff led by metal, IT and commodity stocks, tracking weak global market cues.In a volatile session, the 30-share BSE Sensex fell 1,048.16 points, or 1.25 per cent, to close at 82,626.76. During the day, the benchmark tanked 1,140.37…
Issuing such approval to Reliance may accelerate Venezuela’s crude shipments. (AI image) Reliance Industries (RIL) has been granted a general licence by the Donald Trump administration that will allow the company to crude oil directly from Venezuela without breaching any existing sanctions, a Reuters report has said.According to the report, this general licence permits the…
The Budget 2026 places manufacturing as a strategic and frontier sector for sustaining economic growth. (AI image) By Neetu VinayekIndia’s effort to strengthen its manufacturing foundation has steadily progressed over the past decade through a series of significant policy measures. A major milestone was the launch of the Make in India initiative in 2014, designed…