FE The government on Thursday approved the export of approximately 0.9 million tonne (MT) of broken rice to five African and Asian countries through National Cooperative Export Ltd (NCEL). According to a Directorate General of Foreign Trade (DGFT) notification, broken rice exports have been approved for Senegal (0.5 MT), Mali (0.1 MT), Gambia (0.05 MT), Indonesia (0.2 MT) and Bhutan (48,804 tonne). In September 2022, India had imposed a ban on broken rice exports. However, shipments are allowed on a case-to-case basis for meeting the food security requirement of the countries. Additionally, DGFT approved the shipment of wheat (14,184 tonne), flour (5326…
Author: Amit Bhanot
The President of India, Smt Droupadi Murmu reviewed the Passing Out Parade of 145th Course of National Defence Academy at Khadakwasla today (November 30, 2023). She also laid the foundation stone for a building of the upcoming 5th Battalion. Speaking on the occasion, the President said that the NDA is a cradle of leadership which has given birth to great warriors. This Academy has a special place among the best training institutes of the country and is recognized as a strong pillar for the armed forces and the country. She expressed confidence that the training and life values received from NDA always…
ET Powerlong Real Estate said on Wednesday its cash on hand and bank deposits would not be enough to cover existing and future debt, making it the latest Chinese property developer that could default. In an exchange filing, Powerlong also said it has not made an interest payment of $15.9 million under 5.95% senior notes due April 2025 issued by the company. These notes are listed on the Singapore Exchange. China’s property sector has been squeezed by a regulatory crackdown since 2020 as authorities curbed excessive debt, which tightened liquidity and raised default risks for developers.
FE The Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh on November 30, 2023, granted approval for Acceptance of Necessity (AoNs) totalling Rs 2.23 lakh crore. An impressive 98 percent of this amount, equating to Rs 2.20 lakh crore, will be sourced domestically, marking a significant stride towards achieving the goal of ‘Aatmanirbharta.’ The DAC’s nod includes the procurement of two types of Anti-tank Munitions, Area Denial Munition (ADM) Type – 2 and Type-3, capable of neutralising Tanks, Armoured personnel carriers, and enemy personnel. To replace the Indian Field Gun (IFG) that has reached the end of its…
PTI Steel Secretary Nagendra Nath Sinha on Thursday launched two services of state-owned MSTC — to make its e-auction facilities and ticket raising system more user friendly. The MSTC webpage of property e-auctions service will help buyers and sellers with information related to all scheduled auctions being conducted by the steel PSU. The other facility — the ticket raising system service — will help customers submit any query to MSTC. MSTC, under the Ministry of Steel, conducts e-auction of various materials and minerals and mines. Addressing a CII-MSTC Conference on Real Estate Synergy, Sinha further said, “MSTC should explore the…
Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises, participated in the 42nd India International Trade Fair (IITF) – 2023 held at Pragati Maidan, New Delhi from 14 to 27 November, 2023. In this international trade fair that lasted for 14 days, Khadi lovers made huge purchases in the ‘Khadi Pavilion’ set up in Hall No. 3. For the first time in the history of the KVIC, the sales figure of Khadi and village industry products at IITF cross Historic sale of Khadi and village industry products worth Rs 15.03 crore in India International Trade Fair-2023.…
PTI India’s economic growth momentum will continue in the October-December quarter and the economy is poised to comfortably clock a 6.5 per cent growth rate for the full fiscal underpinned by investment and consumer momentum, Chief Economic Advisor V Anantha Nageswaran said on Thursday. He said India is “underestimating” its GDP growth while forecasting a 6.5 per cent expansion for the full fiscal as is evident from the tax buoyancy that the country is witnessing on the back of high tax revenue collection due to strong corporate and bank balance sheet. “…When you have a tax buoyancy which is as…
The Hindu Union Finance Minister Nirmala Sitharaman has said that Prime Minister Narendra Modi’s main objective is to make women millionaires. Ms. Sitharaman was participating in the Viksit Bharat Sankalp Yatra at the Government Girls High School here on Thursday. The Union Minister, along with officials, party leaders, and beneficiaries of various Central government welfare schemes, took part in Mr. Modi’s virtual interaction with the beneficiaries on the school premises. Earlier, the Union Minister visited the stalls of various central schemes. A.P. Finance Minister B. Rajendranath Reddy, Finance Secretary S.S. Rawat, State Housing Secretary Ajay Jain, District Collector P. Arun…
PTI China’s largest automaker SAIC Motor on Thursday inked a joint venture agreement with the JSW Group to accelerate the transformation and growth of MG Motor in India, which has been struggling to raise capital to fund future growth. As per the shareholder agreement, share purchase and share subscription agreement signed in London, JSW Group will hold a 35 per cent stake in the Indian JV operations. SAIC will continue supporting the joint venture with advanced technology and products to deliver mobility solutions with a focus on the Indian consumer. The agreement was signed by the President of SAIC Wang Xiaoqiu…
PTI A voter turnout of 70.60 per cent was recorded in elections to the 119-member Telangana Legislative Assembly on Thursday which passed off peacefully, barring a few minor incidents. Official sources said late on Thursday that the final voting figures would be known later. The polling in all the 119 assembly segments began at 7 AM amid tight security arrangements. It concluded at 4 pm in 13 Left Wing Extremism (LWE)-affected constituencies, while in the rest 106 others, people could vote till 5 pm.