Business
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Record Gold Prices Threaten to Damp Festive Season Demand in India
A recent surge in gold prices to a record high has dampened the Indian bullion industry’s hopes for a profitable festival season, despite optimism following a significant cut in import duties two months ago—the lowest in a decade. “After the duty cut, there was a surge in interest, and we were confident this festival season would be extraordinary,” said Prithviraj…
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UPI123Pay Transaction Cap Raised: Users Can Now Transfer Up to ₹10,000
The Reserve Bank of India (RBI) has announced an increase in transaction limits for Unified Payments Interface (UPI) services. UPI123Pay, introduced in March 2022 to cater to feature phone users, now has a raised transaction cap of ₹10,000, up from the previous limit of ₹5,000. Additionally, the UPI Lite wallet limit has been increased to ₹5,000 from ₹2,000, with a…
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Limited-Edition Maruti Suzuki Grand Vitara Dominion Launched: Features, Price, Availability
Maruti Suzuki has introduced the new Dominion Edition of the Grand Vitara, offering enhanced features and a premium experience. Available across the Delta, Zeta, and Alpha variants, in both mild-hybrid petrol and CNG versions, this limited edition comes with a price increase of Rs 48,599, Rs 49,999, and Rs 52,699, respectively, over the base variants. Grand Vitara Dominion Edition: What’s…
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Akasa Air to Conduct Safety Risk Assessment on 14 Boeing 737 Planes Following DGCA Directive
Akasa Air will soon undertake a safety risk assessment for 14 of its 25 aircraft, following a directive from the Directorate General of Civil Aviation (DGCA) issued earlier this week, sources have revealed. Air India Express, another key player in the Indian aviation market, will conduct similar assessments on five of its 88 planes. On Monday, the DGCA instructed Indian…
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Inflation Pressures Force PepsiCo to Revise Fiscal 2024 Sales Expectations
PepsiCo revised its sales growth forecast downward on Tuesday, citing a shift in consumer spending habits in North America as shoppers increasingly gravitate toward cheaper private-label brands over its savory snacks and sodas. The packaged food giant now anticipates a low single-digit increase in organic sales for fiscal 2024, a notable decrease from its previous estimate of a 4% rise.…
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India’s Largest Stock Offering of 2024: Hyundai Motor India to Launch $3 Billion IPO
Hyundai Motor India is set to launch its initial public offering (IPO) next week, with share prices expected to be priced between Rs 1,865 and Rs 1,960 ($22 to $23). This valuation could position the automaker at approximately $19 billion, marking it as the largest stock offering in the country this year. This IPO represents Hyundai’s first foray into public…
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Hero Motors Withdraws ₹900 Crore IPO
Hero Motors Ltd., part of the Hero Motors Company Group, has officially withdrawn its draft red herring prospectus (DRHP) for a ₹900 crore initial public offering (IPO). The company initially intended to raise ₹500 crore through new equity issuance and ₹400 crore via a promoter-led offer for sale. As per a filing with SEBI on October 5, 2024, Hero Motors…
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Gold Reaches New High as Domestic Demand Rises; Silver Falls by ₹200
Gold prices surged on Monday, reaching new highs due to strong buying from jewellers and favorable global market trends. The All India Sarafa Association reported that the price of gold rose by ₹250, hitting a record ₹78,700 per 10 grams. In the previous session on Monday, gold, a cherished asset among Indian consumers, had closed at ₹78,450 per 10 grams,…
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Turkish Airlines Takes Flight with Global Rollout of NDC, Partners with Verteil Technologies as Launch NDC Aggregator
Turkish Airlines, the flag carrier of Turkey, is set to transform the air travel experience with the worldwide rollout of its New Distribution Capability (NDC). In a strategic move to enhance distribution capabilities, Turkish Airlines has chosen Verteil Technologies as the launch NDC Aggregator, solidifying its commitment to innovation and passenger satisfaction. NDC is a state-of-the-art data transmission standard developed…
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PM E-DRIVE Scheme Kicks Off: Incentives Announced for Electric Vehicles and Charging Infrastructure
The government launched the PM E-DRIVE Scheme on Tuesday, earmarking Rs 10,900 crore to accelerate the adoption of electric vehicles (EVs), establish a robust charging infrastructure, and foster the growth of the EV manufacturing ecosystem in India. The scheme will be implemented from October 1, 2024, to March 31, 2026. The Electric Mobility Promotion Scheme (EMPS-2024), which runs from April…
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