Sri Lanka has committed to completing its foreign debt restructuring by the end of December 2023, aiming to address its $46 billion external debt. After defaulting on debt in April 2022, the country has been working on rebuilding its finances with help from an IMF bailout. Deputy Minister Anil Jayantha Fernando confirmed that debt restructuring, which has been delayed for over two years, is critical for the country's economic recovery. The restructuring includes international sovereign bo

Bharti Airtel Ltd. has emerged as the leader in India’s telecom sector, gaining market share over the past 12 months following tariff hikes implemented earlier. According to the latest data from the Telecom Regulatory Authority of India (TRAI), the country’s mobile sector saw a 14% year-on-year revenue growth, totaling Rs 2.69 lakh crore. During this period, Bharti Airtel reported the highest revenue growth of 19%, while Vodafone Idea Ltd. and Reliance Jio Infocomm Ltd.

The Reserve Bank of India’s Monetary Policy Committee (MPC) is expected to maintain the status quo on the benchmark repo rate at 6.5% in its upcoming meeting from December 4 to 6. Despite India's GDP growth slowing to 5.4% in the July-September quarter, economists suggest that inflation concerns will likely take precedence, making a rate cut unlikely in December. Retail inflation rose to 6.2% in October, exceeding the RBI’s target range of 2-6%. Though a repo rate cu

Hero MotoCorp, one of the largest two-wheeler manufacturers in India, has announced plans to enter the electric motorcycle market, making it the second legacy brand to do so. The company, known for its popular Splendor model, has already established a presence in the electric two-wheeler space with its Vida electric scooter and is now focusing on expanding its EV portfolio. This announcement comes shortly after Royal Enfield's parent company, Eicher Motors, revealed its new EV brand '

The cost of real estate construction in India has risen by 11% over the past year, according to a recent report by Colliers India. This increase is largely attributed to a significant rise in labour costs, which have surged by 25% annually. Labour expenses now account for over 25% of total construction costs, placing additional strain on budgets and operational expenditures. A growing demand for skilled workers, along with costs associated with training, safety, and compliance, has further dr

Gold prices have been on a downward trend since the US presidential election, with December future contracts opening lower on MCX. The price of gold fell by 0.37% to Rs 76,369 per 10 grams, while silver prices also dropped by 0.24% to Rs 90,601 per kg. In the last two days, gold prices have plummeted by Rs 2,100 per 10 grams and silver prices by Rs 4,050 per kg. According to the India Bullion and Jewellers Association Ltd (IBJA), the current prices for different carats of gold are a

On Tuesday, gold prices saw a significant rise, increasing by ₹300 to reach ₹81,400 per 10 grams in the national capital. This surge is attributed to the heavy demand from jewellers and retailers ahead of Dhanteras, a festival known for its traditional gold purchases, as reported by the All India Sarafa Association. Silver also experienced a boost, climbing by ₹200 to ₹99,700 per kg, driven by rising demand from industrial units and coin makers. The previous day, silver was

Jamshyd Godrej, Chairman of the CII-Sorabji Green Business Centre, has expressed confidence that India can emulate the remarkable economic growth that China experienced in recent decades. Speaking exclusively on Wednesday, Godrej emphasized that achieving such growth rates, similar to China's average GDP growth of 9.91% from 1979 to 2010, is within India's reach. However, he stressed the need for enhanced coordination between Indian industries and the government in policymaking.

On Thursday, the government revealed a significant increase in minimum wage rates through the revision of the Variable Dearness Allowance (VDA), aiming to assist workers in managing the rising cost of living. This adjustment will particularly benefit those in the unorganised sector, including workers involved in construction, loading and unloading, cleaning, housekeeping, mining, and agriculture within central sphere establishments. The revised wage rates will be implemented startin

Andhra Pradesh's Path to Growth: Andhra Pradesh is set to play a pivotal role in India's growth over the next five years under the seasoned leadership of Chandrababu Naidu. Renowned for his forward-thinking policies and introduction of pioneering technologies, Naidu's leadership is expected to steer the state toward significant advancements. With a recent assembly election victory, the NDA government aims to restore and surpass Andhra Pradesh's p

Chandrababu Naidu's reinstatement as Chief Minister of Andhra Pradesh has reignited hopes for the state's financial revival after a challenging five-year period under YS Jagan Mohan Reddy. The previous administration faced severe criticism for its poor financial management, including excessive borrowing and a lack of transparency, which plunged the state into a significant debt crisis. With Naidu back in power, there is a strong focus on correcting these issues and steering Andhra Pra

In recent months, CM Chandrababu Naidu has focused on driving investment into Andhra Pradesh, engaging with global entities such as the World Bank and Brookfield Corporation, and exploring opportunities in EV and alternative energy sectors. His latest push involves a significant meeting with Godrej Industries, where he discussed a potential Rs 2800 crore investment for pesticide manufacturing in Amarava

Andhra Pradesh Chief Minister Chandrababu Naidu is set to make a significant impact on the state's economic landscape with his upcoming visit to Sricity. During this visit, Naidu will inaugurate 15 new companies, which will bring a substantial investment of 900 crore rupees into the region. This initiative is expected to generate approximately 2,740 new jobs, offering a boost to local employment and signaling a strong commitment to economic development. The inauguration event wi