WASHINGTON — When the Justice Department indicted India’s richest man in the final weeks of the Biden administration, prosecutors described an “elaborate” bribery scheme involving “corruption and fraud at the expense of U.S. investors.” Now, according to several people with knowledge of the case, the Justice Department is planning to drop the charges altogether. The […]
NEW DELHI — Air India Group recorded a record loss of more than $2 billion for its 2025-26 fiscal year, according to shareholder Singapore Airlines’ (SIAL.SI), opens new tab annual report, as India’s second-largest airline grappled with disruption from the Iran war and Pakistan’s ban on Indian carriers from its airspace. In the report released […]
NEW DELHI — Major dairy brands Amul and Mother Dairy on Wednesday announced an increase of Rs 2 per litre in milk prices, effective from May 14, citing rising input and procurement costs. Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets milk under the Amul brand, said the prices of fresh pouch milk have been […]
NEW DELHI — The government on Wednesday hiked import duties on gold and silver to 15 per cent from 6 per cent as part of measures to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis. Days after Prime Minister Narendra Modi’s clarion call for curbs on […]
MUMBAI — The Indian rupee is set to weaken at Tuesday’s open, with a possible slide to a lifetime low against the U.S. dollar, on concerns that the fragile U.S.-Iran ceasefire may be fraying, keeping oil prices high and the currency under pressure. The rupee is expected to open at 95.45–95.55, traders said, after sliding […]
NEW DELHI — Tycoon Gautam Adani has overtaken fellow Gujarat business czar Mukesh Ambani to become Asia’s richest person, as a sustained rally in shares of his ports-to-energy conglomerate lifted his net worth. With a net worth of USD 92.6 billion, Adani surpassed Ambani, whose fortune stands at USD 90.8 billion, to become the richest […]
JAMMU — The Jammu and Kashmir government on Thursday clarified that the State Cooperative Agriculture and Rural Development (SCARD) Bank Ltd has not been declared bankrupt, but liquidation proceedings have been initiated in accordance with law due to prolonged financial and operational distress. Replying to questions by legislators Dr Rajeev Kumar Bhagat, Vikram Randhawa, Surjeet […]
JAMMU — Jammu and Kashmir’s total debt in 2024–25 is estimated at Rs 1,37,067 crore about 48 per cent of the Union Territory’s gross state domestic product (GSDP), which has expanded to Rs 2,88,422 crore Chief Minister Omar Abdullah informed the Assembly on Wednesday. Defending the government’s fiscal management, Abdullah said the rise in GSDP […]
JAMMU — Jammu and Kashmir recorded a steady rise in GST collections over the past three financial years, with total revenue amounting Rs 24,080.79 crore, reflecting improved compliance and a widening tax base, the Union Territory government informed the Assembly on Tuesday. Replying to a written question by National Conference MLA Pirzada Farooq Ahmed, Chief […]
JAMMU — Deputy Chief Minister Surinder Kumar Choudhary on Monday said Jammu and Kashmir has attracted private investments worth Rs 14,948 crore in past four years, generating employment for 64,515 people in the industrial sector. Replying to a question by BJP MLA Sunil Bhardwaj in the Legislative Assembly, the Deputy Chief Minister also said said […]