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The World Trade Organization (WTO) on Wednesday welcomed China’s decision not to seek new special treatment in future WTO negotiations, calling it a step toward a more equitable global trading system.“This is a pivotal moment for the WTO,” said Ngozi Okonjo-Iweala, WTO Director-General, news agency AFP reported. “China’s decision reflects a commitment to a more…
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday approved the doubling of the 104 km Bakhtiyarpur–Rajgir–Tilaiya railway line in Bihar at an estimated cost of Rs 2,192 crore.The project will expand the Indian Railways network across four districts and improve connectivity to important destinations such as Rajgir, Nalanda and…
IT stocks fell for a third consecutive day on Wednesday, as concerns over a sharp increase in US H-1B visa fees continued to weigh on investor sentiment. The BSE IT index dropped 0.69 per cent to 34,529.91.Mastek Ltd plunged 3.42 per cent, Infobeans Technologies declined 3.41 per cent, Wipro lost 2.06 per cent, Tech Mahindra…
Rapido looks to raise $500 million funding as Swiggy exits stake Bengaluru-based ride-hailing startup Rapido is finalising a $500-550 million (Rs 4,500-5,000 crore) funding round, combining primary and secondary deals, while Swiggy exits its stake in the company.The move comes as Rapido expands its ride-hailing operations and scales its food delivery platform, Ownly. The primary…
India’s mutual fund industry continues its strong growth trajectory, scaling a fresh peak in August 2025, with assets under management (AUM) touching an all-time high of Rs 75.19 lakh crore — up 12.7% from Rs 66.7 lakh crore a year ago, according to a Franklin Templeton report.Equity-oriented schemes continue to dominate, with AUM at Rs…
Silicon Valley braces for Donald Trump’s H-1B fee hike The Trump administration’s sharp increase in visa fees for H-1B workers has triggered concern among US technology companies, with many considering moving more jobs overseas — the very outcome the policy aimed to prevent.US President Donald Trump announced on Friday a steep $100,000 levy for new…
PhonePe plans $1.5 billion IPO PhonePe Limited filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) late Tuesday night, taking the confidential route.The company confirmed the development and said the filings were made in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, reported ET.PhonePe…
The Union Cabinet on Wednesday approved payment of Productivity Linked Bonus (PLB) equivalent to 78 days’ wages to railway employees, with a financial implication of Rs 1,865.68 crore.The decision, taken at a meeting chaired by Prime Minister Narendra Modi, will benefit about 10.91 lakh non-gazetted employees of the Indian Railways. The bonus is paid annually…
Rupee depreciated by 7 paise to 88.80 against the US dollar in early trade on Wednesday, hovering near its all-time low amid US tariff concerns, H-1B visa fee hikes, and persistent foreign fund outflows.At the interbank foreign exchange, the rupee opened at 88.80 and touched 88.71 in initial trades. On Tuesday, it had fallen 45…
Gautam Adani has issued a letter to shareholders emphasising the group’s commitment to transparency and governance. Gautam Adani, the Adani group’s founder and chairman, has written about the Hindenburg report and recent SEBI clean chit. In a letter to shareholders, Gautam Adani said the Hindenburg report, aimed at weakening the group, has actually strengthened it.Following…
