Ripples from the recession in Europe and the US continue to rock Gujarat’s textile and chemical sectors. The clouds of job losses are looming over these labour-intensive industries. A bad debt cycle triggered by low demand, shrinking working capital, high input costs and stretched payment cycles has forced companies to cut costs. The textile industry…
Pepperfry co-founder Ambareesh Murty died of a cardiac arrest on Monday night. Murty was 51. The furniture and home decor company’s second co-founder Ashish Shah informed about the demise of Murty on X, formerly Twitter. “Extremely devastated to inform that my friend, mentor, brother, soulmate @AmbareeshMurty is no more. Lost him yesterday night to a…
Kolkata: Indian traders are looking at destinations such as Vietnam, Cambodia, Thailand, other Asean countries and China to export cut and polished diamonds, as the US may stop importing diamonds of 1 carat and above from India starting January as it believes those may have originated from the mines operated by Alrosa of Russia, a…
NEW DELHI: With their semifinal berth already secured, India triumphed over reigning champions South Korea with a 3-2 victory in their fourth round-robin encounter of the Asian Champions Trophy in Chennai on Monday. This win solidified India’s undefeated streak in the continental hockey tournament. Prior to the commencement of the match at the Mayor Radhakrishnan…
NEW DELHI: Rajya Sabha Chairman Jagdeep Dhankhar on Monday accused TMC member Derek O’Brien of doing “theatrics” in the House to gain publicity during a heated debate on the Delhi services bill. Dhankhar’s outburst came after the TMC member refused to confine his speech to the Government of National Capital Territory of Delhi (Amendment) Bill,…
NEW DELHI: In a major blow to the Aam Aadmi Party (AAP) government in Delhi, the Rajya Sabha on Monday passed the Government of National Capital Territory of Delhi (Amendment) Bill, 2023, empowering the Centre to make rules for Delhi government officers and employees, including appointment, transfers and terms. The Bill was passed with 131…
Government think-tank Niti Aayog is looking at tax-related issues, including inverted duty structure in three sectors of engineering, leather, and textiles, an official said on Monday. The issues are likely to be taken up with higher authorities for their resolution to promote the growth of these sectors, the official said. Industry representatives of leather and…
Mumbai|Kolkata: The Office of Foreign Assets Control (OFAC), a US government arm, has, in the last couple of months, frozen about a dozen fund transfers worth nearly $26 million by multiple offshore firms belonging to Indian jewellers, for alleged import of rough diamonds mined in Russia. The entities that have been directly impacted are UAE…
Representative Image Premiums on physical gold in China hit a near five-month peak this week on strong retail demand in the top consumer, while a weaker rupee offset the impact of a retreat in local prices in India. Chinese dealers charged premiums of $20-$35 an ounce over global spot prices, versus $15-$22 last week. “We’re…
Representative Image Talking about how India today is the factory for the world in jewellery and has potential to become the market for the world, CK Venkataraman, MD, Titan Company, said that all the circumstances are in the country’s favour. “It is what the industry can shape into. There is per capita income, an explosion…
