Business

Adani’s Vizhinjam Port Approved as India’s First Transshipment Hub

Adani Group's Vizhinjam Port in Kerala has received approval from the government to operate as India's inaugural transshipment port. This designation is significant as it allows cargo to be transferred from large vessels to smaller ones, contributing to India's goal...

Aramco and FIFA Forge Global Partnership

In a groundbreaking announcement, Saudi Arabia's oil behemoth, Aramco, and the international football governing body, FIFA, have joined forces in a strategic global partnership. The deal, spanning until 2027, designates Aramco as FIFA's Major Worldwide Partner exclusively in the energy...

Gem and Jewellery Sector Granted AEO Status by Indian Government

The Gem & Jewellery Export Promotion Council (GJEPC) announces a significant milestone for India's Gem and Jewellery (GJ) industry as it receives Authorized Economic Operator (AEO) status from the Ministry of Finance. This status, previously denied, now facilitates smoother export-import...

India’s Pharmaceutical Exports Surge to $28 Billion in FY24

India's pharmaceutical exports witnessed robust growth in the fiscal year 2023-24, reaching $28 billion, marking a 10% increase compared to the previous fiscal year. Despite a 3% dip in total exports, the pharmaceutical sector demonstrated resilience and significant expansion. Key...

Unlocking the Potential of Phi-3-mini: Microsoft’s Breakthrough in AI

Phi-3-mini marks a significant milestone in AI innovation, offering unparalleled performance and efficiency. Microsoft's latest small language model (SLM) has surpassed benchmarks, demonstrating superiority over models of similar and larger sizes. Leveraged by prominent entities like India's ITC, Phi-3-mini showcases...

NABARD-RBI Innovation Hub Partnership Accelerates Digital Agri Lending

In a strategic collaboration, NABARD has joined forces with the RBI Innovation Hub to revolutionize agricultural lending through digitalization. The partnership aims to streamline loan processing and enhance accessibility for farmers across India. Integration for Efficiency NABARD will integrate its...

Jio Surpasses China Mobile to Lead Global Telco Industry in Data Traffic

Reliance Jio, the telecom leader in India, has outpaced China Mobile to become the world's largest mobile operator by data traffic consumption. With a subscriber base of 481.8 million, including 108 million on its True5G Standalone network, Jio's dominance underscores...

RBI Introduces FEMA Regulations for Direct Listing on International Exchanges

The Reserve Bank of India (RBI) has unveiled regulations under the Foreign Exchange Management Act (FEMA) to facilitate the direct listing of Indian companies on international stock exchanges. These regulations aim to streamline foreign exchange transactions and reporting procedures, offering...

PayU Receives RBI’s In-Principle Approval as Payment Aggregator

In a significant development, PayU, the digital financial services provider, has obtained the coveted in-principle authorization from the Reserve Bank of India (RBI) to function as a Payments Aggregator (PA) under the Payment Settlements Act, 2007. This approval, after a...

Razorpay and Airtel Payments Bank Introduce UPI Switch: Revolutionizing Payment Infrastructure

In a groundbreaking collaboration, Razorpay and Airtel Payments Bank have unveiled the UPI Switch, a cutting-edge cloud-based infrastructure designed to revolutionize the landscape of digital payments. This innovative product promises to enhance success rates by 4-5% and handle an impressive...