MUMBAI: Tata Group‘s flagship hospitality arm, The Indian Hotels Company, (IHCL) is set to acquire a controlling stake in midscale chain Clarks, strengthening its play in the country where tourism and business travel are rapidly growing. IHCL, known for the Taj chain, will buy 51% each in ANK Hotels and Pride Hospitality for a total…
RBI Governor Sanjay Malhotra (File photo) MUMBAI: RBI Governor Sanjay Malhotra has said that the regulator has left it to individual banks to decide on the extent of minimum balance required and there was no regulatory restriction on that.“What kind of minimum balance required is left to the banks. Some of them have kept Rs…
NEW DELHI: The Adani Group has further expanded its presence in the maintenance, repair and overhaul (MRO) space. After acquiring Air Works, it has now bought another major MRO player in Nagpur.Adani Defence Systems and Technologies (ADSTL), through its joint venture Horizon Aero Solutions, has signed a definitive agreement to acquire a 100% stake in…
NEW DELHI: William Grant & Sons, the maker of top Scottish whisky brands, such as Glenfiddich, Monkey Shoulder, and Balvenie, apart from Hendrick’s Gin, has called the India-UK trade deal a “landmark” agreement. This deal will lead to the entry of new higher-end editions in the country, apart from giving a fillip to the sale…
MUMBAI: Investors ignored a volatile stock market in July and doubled down with their investments in mutual funds during the month – mostly through equity schemes – surpassing several records. Monthly gross flows through the SIP route, monthly net equity flows and total assets managed by the fund industry, all recorded new peaks in July.At…
NEW DELHI: Lok Sabha on Monday approved the Income Tax Bill 2025 – a key reform aimed at revamping the decades old income tax law for individuals and companies, making it simple for taxpayers and easing the compliance burden.Earlier, FM Nirmala Sitharaman introduced the revised and updated version of the I-T bill in Parliament, incorporating…
US President Donald Trump said on Monday that gold imports will not face additional tariffs, ending days of uncertainty that had rattled global bullion markets and sent futures prices to record highs.“Gold will not be Tariffed!” Trump said in a statement on his Truth Social account, without providing further details. His remarks followed confusion triggered…
Norway’s sovereign wealth fund — the world’s largest — has announced the sale of its holdings in 11 Israeli companies, citing the worsening humanitarian crisis in Gaza and the broader conflict in the region. Nicolai Tangen, chief of Norges Bank Investment Management (NBIM), which manages the fund, said the decision was taken “in response to…
Mutual fund inflows hit fresh records in July, with equity schemes attracting Rs 42,702 crore — up 81% from June’s Rs 23,587 crore — and debt funds bouncing back with Rs 1.06 lakh crore after two months of withdrawals. In July 2024, equity inflows stood at Rs 37,113 crore.Sectoral and thematic schemes topped the equity…
Gold prices in India surged to unprecedented levels last week, breaching the Rs 1.02 lakh mark on Friday, driven by US President Donald Trump’s tariff policies and a broader global flight to safety. Market experts say the rally reflects deepening concerns over the US dollar’s reliability, inflation risks, and geopolitical tensions.“Uncertainty over the long-term reliability…
