Rating agency Icra on Tuesday projected real GDP growth of 12-13% in the first quarter of FY23, citing an improvement in its business activity monitor reading and favourable base effect. However, for the full year (FY23), the agency has forecast 7.2% growth, thanks to the ripple effect of the Ukraine war, elevated inflationary pressure and […]
A consortium led by Multiples Private Equity has invested Rs 685 crore in Mumbai-based drugmaker BDR Pharmaceuticals International in lieu of a 9.3% stake. Institutional investors such as the investment arm of Times Group, QRG Invest (Havells Family Office), and high net worth individuals Nishant Agarwal of Avighna Group and Mallika Srinivasan of TAFE were […]
Telecom operators will get spectrum for 20 years in the upcoming 5G auction as the Digital Communications Commission (DCC) on Tuesday approved this option on the suggestion by an internal committee appointed by it. The development assumes significance as the government had, in September last year, announced that henceforth spectrum after auctions would be given […]
Bharti Airtel has appointed former Cabinet secretary PK Sinha as an independent director on its board. Sinha served as Cabinet secretary for more than four years and later moved to the Prime Minister’s Office as adviser. He resigned from that position in March 2021. Bharti Airtel said Sinha has been a government nominee director in […]
Navi Technologies, which owns and operates Chaitanya India Fin Credit, said on Tuesday that it would engage with the RBI to understand the reasons behind the rejection of its application for an on-tap universal banking licence. The management of the fintech will also consider if an appeal route needs to be pursued, Sachin Bansal, promoter […]
The UK’s unemployment rate has fallen to its lowest in nearly fifty years but workers are still suffering sharp falls in real income as wage growth lags behind soaring inflation. Figures from the Office for National Statistics (ONS) showed that the country’s jobless rate dropped to 3.7 per cent from 3.8 per cent in the […]
Greggs has revealed that its sales in large cities and locations near offices are lagging behind those elsewhere in the UK as a result of the shift to home working. Roger Whiteside, the outgoing chief executive of the bakery chain, said transaction numbers in city centres were 10% below pre-Covid levels. “There are less people […]
The average price of a litre of diesel has hit a high of just over £1.80 a litre – and could rise even further if the EU ban on Russian oil goes ahead. The RAC reported that the price a litre in the UK has outstripped the previous record of £1.79, set in March after […]
A Cotswold-based authentic Italian food business set up by a couple who initially dreamed of sharing the classic flavours of Italy with the local community is showing no signs of stopping — having expanded its operation to two professional kitchens in just four years, alongside its first restaurant opening next month. Business owners Clara Cardillo […]
Tesco is to hand pig farmers £6.6m in additional support, taking the total to £10m, after warnings that a slew of producers could go out of business. The UK’s biggest supermarket said farmers would get £6.6m until August on top of £3.4m handed out since March under an “accelerated and enhanced payment plan”, after being […]