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 25 Sep 10:33 AM   EconomicTimes

Flexible office space providers see record demand in India

According to JLL, enterprises expanded their office space leasing activity significantly in FY23, going from 92,400 seats in FY22 to 139,000 seats across major cities in the country. The growth was particularly prominent in cities such as Bengaluru, Pune and Delhi NCR.

 25 Sep 10:27 AM   EconomicTimes

Godrej Properties sells 670 apartments worth Rs 2,000 cr in Noida project

Godrej Properties has sold 670 apartments worth over Rs 2,000 crore in its project, Godrej Tropical Isle, in Noida. The project was launched in August 2023, nine months after the land parcel was purchased through an e-auction. This is the company's most successful launch in terms of value and volume of sales.

 25 Sep 10:23 AM   EconomicTimes

EV sales growth points to oil demand peaking by 2030- so why is the oil industry doubling down on production?

Despite the growing sales of electric vehicles (EVs) and the decline in sales of gas- and diesel-powered vehicles, the U.S. government is still projecting an increase in demand for oil. The International Energy Agency recently forecasted a global peak in demand for oil, gas, and coal by 2030, attributing it to changes in energy policies and a rise in clean technologies, including EVs.

 25 Sep 10:20 AM   EconomicTimes

Buying an electric vehicle? Here are the costs to consider

With petrol and diesel prices reaching Rs 100 per litre, more people are opting for EVs to save on vehicle expenses. However, there are other costs to consider, such as higher insurance premiums and the expensive replacement of EV batteries. Additionally, charging time and infrastructure remain significant challenges for EV owners.

 25 Sep 08:51 AM   EconomicTimes

Indians have just five days to return withdrawn Rs 2,000 notes worth $3 billion

The Reserve Bank of India (RBI) has given Indians until the end of September to return approximately $3 billion worth of now-withdrawn Rs 2000 notes. The notes were introduced in 2016 to meet currency requirements but were not widely used for transactions. As of August 31, 93% of the withdrawn notes had been returned to banks, leaving about 7% still with the public. After September 30, the notes will remain legal tender but will not be accepted for transactions and can only be exchanged with the RBI.

 25 Sep 06:20 AM   EconomicTimes

Amid record high prices, gold buyers take a shine to monthly schemes

Despite the high prices of gold, retail chains are experiencing an increase in jewelry purchases through deferred or monthly payment schemes. Tanishq, a jewelry retailer owned by the Tata Group, saw a 44% rise in purchases through its deposit scheme. Reliance Retail also reported an increase in purchases through such schemes. Even regional chains, like PNG Jewellers and Senco Gold, have seen significant growth in deposits. The popularity of these schemes can be attributed to the discounts offered on installments and the ability for consumers to pre-plan their purchases.

 25 Sep 01:01 AM   EconomicTimes

India growing more than other markets for Lladro: global chief

Spanish luxury porcelain brand Lladro is planning to increase its investment in India, as it sees potential for growth in the market. India currently accounts for 11% of Lladro's global sales, and the company plans to develop online sales and open more mono-brand stores in the country. Lladro's CEO, Ana Rodriguez, stated that India is a strategic market for the brand, and it has seen significant growth there in recent years

 25 Sep 12:55 AM   EconomicTimes

India set to relax FDI norms in space sector in bid to give a boost to Satcom

India is planning to liberalize its foreign direct investment (FDI) policy for the space sector. The government will allow up to 74% overseas ownership through the automatic route and up to 100% through the government route. This move aims to attract global investors in satellite communications and enable Indian companies to access the latest technologies in satellite manufacturing and operations.

 25 Sep 12:39 AM   EconomicTimes

LandCraft leases Salman Khan's Mumbai property at Rs 1 crore per month rent

"We are farmer-entrepreneurs-founders ourselves, running large-scale aquaponics and sustainable soil-based farms in different parts of Maharashtra for more than five years," said Mayank Gupta, managing director and co-founder of Food Square.

 25 Sep 12:39 AM   EconomicTimes

LandCraft leases Salman Khan's Mumbai property for gourmet store

"We are farmer-entrepreneurs-founders ourselves, running large-scale aquaponics and sustainable soil-based farms in different parts of Maharashtra for more than five years," said Mayank Gupta, managing director and co-founder of Food Square.

 25 Sep 12:38 AM   EconomicTimes

State-run ports seek oil spill centres, immigration facility

Raising issues related to multiple government arms conducting audits and inspections, the Tamil Nadu Maritime Board proposed streamlining security audits and inspections in non-major ports. Currently, export-import (Exim) ports are audited by the Directorate General of Shipping. Separate audits are being conducted by the Intelligence Bureau, Navy, Central Industrial Security Force and the Coast Guard.

 25 Sep 12:34 AM   EconomicTimes

KRIBHCO investing Rs 1,100 crore to set up 3 grain-based ethanol plants in Gujarat, Telangana, Andhra

"We are setting up three bio ethanol plants as part of our diversification plan," KRIBHCO's Chairman Chandra Pal Singh said. Rajan Chowdhry, Managing Director, KRIBHCO, said these plants are expected to be operational by end of the next year. "We are investing around Rs 1,100 crore on setting up these three plants. We will be using grains like maize and broken rice as feedstock," Chowdhry told PTI.

 25 Sep 12:32 AM   EconomicTimes

Majority of lenders of IL&FS Tamil Nadu Power Company seal loan recast deal

The master restructuring agreement (MRA) was approved by a majority of lenders last week. This envisages a loan repayment schedule up to March 2038 and redemption of non-convertible debentures (NCDs) by March 2040.

 25 Sep 12:27 AM   EconomicTimes

NARCL pays Srei lenders promised upfront cash

The cash was distributed as part of the ₹3,180 crore upfront payment promised by the bad bank in its winning bid and was credited to banks on Saturday, four people familiar with the details said.

 25 Sep 12:18 AM   EconomicTimes

G20 Independent Expert Group's road map for multilateral banks to come out in October

The details include proposals that would enable MDBs to harness private capital apart from stepping up their financial capacity, the group's co-chair NK Singh said. "We are going into greater granularity on how you really achieve this private capital--- what incentive, risk mitigation can you do," Singh, who is also chairman of the Fifteenth Finance Commission, told ET in an interview.

 25 Sep 12:17 AM   EconomicTimes

Turnaround in sight at private banks, now is the time to bet

Analysts said due to strong management and aggressive strategies, private sector banks will continue to take market share from their public sector counterparts. They also believe private banks have strong subsidiaries in high-growth businesses like asset management, wealth management, and life and health insurance, where value will be unlocked in the coming years.

 24 Sep 11:53 PM   EconomicTimes

Big opportunity in EV charging space in India: Shell mobility chief

"One of the things you can do is to go into areas with EV charging where you are not there with fuel stations because in fuel stations, as you know, you need to have supplies, you need to have depots and everything," Istvan Kapitany, Shell's global executive vice president for mobility, told ET in an interview.