Drawing a practical analogy, the JPMorgan report calls IT firms the ‘plumbers of the technology world’. (AI image) India’s IT sector is witnessing an unprecedented rout with stocks tanking on fears of artificial intelligence making the main roles at technology sector giants redundant. It’s a selloff like never before – but is the situation so…
Prime minister Narendra Modi on Friday said India now accounts for about 16% of global economic growth and is positioned to become a key driver of world expansion in the coming years.Speaking at the ET Now Global Business Summit, Modi said the current decade has marked a phase of unprecedented development for India despite multiple…
India’s “Chicken neck” is all set for a new connectivity boost!In a bid to strengthen regional connectivity to India’s North-eastern States, Indian Railways has announced plans to construct a new underground railway line through the Siliguri Corridor, commonly known as the “Chicken’s Neck”. India Moves To Secure Chicken’s Neck As Underground Rail Project Targets Strategic…
Russia might soon return to the US dollar as the Kremlin is weighing the possibility under a set of economic partnership with the Trump government. According to an internal Russian document cited by Bloomberg, The memo, written this year and circulated among senior officials, identifies seven areas where Moscow believes its interests could align with…
Gold prices rose on Friday, climbing Rs 1,044 to reach Rs 1,53,880 per 10 grams in futures trade. This surge was driven by traders who took fresh positions, responding to firm demand in the spot market. On the Multi Commodity Exchange, April delivery gold contracts moved higher by Rs 1,044, or 0.68%, closing at Rs…
A majority of companies are unlikely to reduce salary hikes, even with higher wage bills resulting from the implementation of new labour codes, according to HR heads and compensation experts. However, increments may be moderated in certain sectors, particularly information technology.Costs for benefits such as gratuity, overtime, bonus, and leave encashment have increased after the…
US stock markets traded largely steady on Friday after a softer-than-expected inflation update helped calm investor nerves, even as concerns about artificial intelligence-driven disruption continued to weigh on sentiment.The S&P 500 was nearly unchanged in early trade, a day after recording one of its worst losses since Thanksgiving. The Dow Jones Industrial Average fell 109…
The administration of US President Donald Trump has added several major Chinese companies, including Alibaba and Baidu, to a Pentagon list of firms allegedly supporting China’s military, increasing pressure on Beijing ahead of an expected meeting between leaders of the two countries, according to a Reuters report.The Pentagon’s 1260H list does not directly impose sanctions…
Issuing such approval to Reliance may accelerate Venezuela’s crude shipments. (AI image) Reliance Industries (RIL) has been granted a general licence by the Donald Trump administration that will allow the company to crude oil directly from Venezuela without breaching any existing sanctions, a Reuters report has said.According to the report, this general licence permits the…
The Reserve Bank of India (RBI) on Friday proposed revised guidelines for the Lead Bank Scheme (LBS) to streamline operational processes and enhance the effectiveness of the programme introduced in 1969 to coordinate development activities at the district level, PTI reported.The Lead Bank Scheme is aimed at coordinating the activities of banks, governments and other…