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China’s uncomfortable role as the world’s largest official debt collector

Nov 7, 2023

New Delhi, Nov 7 (IANS) China is navigating an unfamiliar and uncomfortable role -- as the world’s largest official debt collector, AidData said in a report.Fifty-five per cent of its loans to low- and middle-income countries have already entered their principal repayment periods and this figure will increase to 75 per cent by 2030.Total…

WeWork files for bankruptcy, WeWork India’s operations not affected

Nov 7, 2023

San Francisco, Nov 7 (IANS) Leading flexible workspace provider WeWork, once valued at $47 billion, has filed for bankruptcy in the US and Canada. The company was valued at just $45 million last week.WeWork and certain of its entities filed…

Business

Centre mulls executive director posts in PSU general insurers

Nov 7, 2023

Chennai, Nov 7 (IANS) The central government is mulling to appoint Executive Directors in its four non-life insurers and the national reinsurer as it exists in the nationalised banks, said a senior industry official, adding that an…

Business

VA TECH WABAG logs Rs 54.1 crore PAT for Q2

Nov 7, 2023

Chennai, Nov 6 (IANS) Water technology major VA TECH WABAG Ltd closed the second quarter of FY24 with a higher standalone net profit of Rs 54.1 crore. According to the company, for the period under review, it earned an operational revenue…

Business

Rs 1,481 crore fake GST invoicing racket busted

Nov 7, 2023

New Delhi, Nov 6 (IANS) The Directorate General of Goods and Services Tax Intelligence (DGGI), Meerut Zonal Unit, has busted a large-scale racket involving fake invoicing to the tune of a whopping Rs 1,481 crore, resulting in passing on of…

Business

HPCL posts Rs 5,827 crore profit in July-September quarter (Lead)

Nov 7, 2023

Mumbai, Nov 6 (IANS) Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a consolidated net profit of Rs 5,826.96 crore for the July-September quarter of the current financial year to bounce back from the huge loss of Rs 2,476…

Business

India most targeted country with 13.7% cyberattacks: Report

Nov 6, 2023

New Delhi, Nov 6 (IANS) India is the most targeted country, with 13.7 per cent of all cyberattacks, followed by the US with 9.6 per cent, Indonesia and China with 9.3 per cent and 4.5 per cent, respectively, a new report revealed on…

Business

Fitch raises India’s GDP growth forecast, cuts China’s

Nov 6, 2023

New Delhi, Nov 6 (IANS) Global credit rating agency Fitch on Monday raised its forecast for India's gross domestic product (GDP) mid-term growth by 0.7 per cent to 6.2 per cent from 5.5 per cent earlier, while cutting its estimate for…

Business

Indian non-life insurers log 13.65% growth in Oct, National Insurance losses over 50% premium

Nov 6, 2023

Chennai, Nov 6 (IANS) The Indian non-life insurance industry - including standalone health and specialised insurers - closed last month with 13.65 per cent premium growth over October 2022.According to the flash figures issued by the…

Business

If India’s economic growth normalises, corporate India will find it hard to continue its stellar…

Nov 6, 2023

New Delhi, Nov 6 (IANS) India’s economic growth momentum is normalising and core inflation is now at 4.6 per cent, which is typical of a disinflationary cycle, DSP Mutual Fund said in a report.If India’s economic growth normalises,…

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