File photo: Frederick W Smith (Picture credit: X) Frederick W Smith, the visionary founder and former CEO of FedEx Corp, passed away on Saturday at the age of 80, confirmed FedEx. Smith, who transformed the logistics industry with the concept of overnight delivery, leaves behind a legacy that reshaped global commerce and created one of…
A consumer commission in Mumbai has ordered budget airline SpiceJet to pay Rs 25,000 as compensation and Rs 5,000 towards litigation costs to a senior citizen who suffered mental agony and financial loss after being issued an incorrect ticket during a rerouted journey in December 2020, reported news agency PTI.The District Consumer Disputes Redressal Commission,…
India nuclear stockpile: India’s nuclear arsenal reached 180 warheads by January 2025, according to SIPRI. The nuclear weapons were distributed across a maturing triad system comprising aircraft, ground-based missiles and SSBNs. Traditionally, India has maintained its nuclear warheads separately from deployed launchers during peace periods. However, recent developments, including the deployment of missiles in canisters…
This is an AI-generated image, used for representational purposes only. Public Sector Banks (PSBs) gained significant market share across lending segments and geographies in FY25 despite overall moderation in bank credit growth, a report by Union Bank of India has revealed. The shift was especially evident in working capital and demand loans, traditionally used by…
NEW DELHI: Gross direct tax collections rose less than 5% to Rs 5,45,207 crore during the fiscal year up to June 19. The first of the four instalments of advance tax receipts increased at a muted 3.9%, raising fears of a sharp slowdown in the growth in corporate profits during the June quarter.On a net…
India Post Payments Bank (IPPB) has won the Union Finance Ministry’s Digital Payments Award 2024‑25 for its role in widening access to cash‑lite transactions and driving financial inclusion across the country.The trophy was presented in Delhi by Finance Minister Nirmala Sitharaman and MoS (Finance) Pankaj Chaudhary to IPPB MD & CEO R Viswesvaran and CGM…
File photo: South Korean President Lee Jae Myung (Picture credit: AP) South Korean President Lee Jae Myung has introduced a 30.5 trillion won (USD 22.1 billion) supplementary budget plan aimed at revitalising the country’s weakening economy and supporting struggling citizens, reported news agency ANI, citing The Korea Herald.The proposal, which received Cabinet approval on Thursday,…
The government has told a parliamentary committee that domestic production of pulses and edible oils has risen at a greater pace in the last 10 years compared to the previous decade, even as several MPs voiced concern over the country’s continued dependence on imports to meet demand.In a presentation to the Standing Committee on Agriculture,…
Sebi is working on a comprehensive review of mutual fund regulations to make them more investor-centric and industry-friendly, a senior official said on Saturday.“We are reviewing the entire mutual fund regulatory framework to enhance ease of doing business for all stakeholders, including the regulator,” said Manoj Kumar, executive director at Sebi, at the 17th Mutual…
NEW DELHI: State-run Oil and Natural Gas Corporation (ONGC) on Saturday said it had made significant progress in its efforts to contain the gas blowout at well RDS#147A in Assam’s Rudrasagar oilfield, with the flow rate of natural gas having reduced substantially. The blowout — or uncontrolled gas flow — occurred on June 12 at…
