Rupee jumps 80 paise against USD
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13 May 2025 | 9:54 AM
Mumbai, May 13 (UNI) The Rupee on Tuesday appreciated 80 paise at 84.62 in the opening session on the selling of US dollars by bankers and exporters at the Forex Market informed.
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Rupee opens at 84 62, up 80 paise against USD
13 May 2025 | 9:40 AM
UNI NV ARN.
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Sensex opens at 82,249 60, falls 180 pts and Nifty at 24,864 05, slips 60 pts
13 May 2025 | 9:22 AM
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DFCCIL launches its longest rail flyover girder at Kalamboli
13 May 2025 | 2:15 AM
Mumbai, May 12 (UNI) In a major boost to India's freight infrastructure, the Dedicated Freight Corridor
Corporation of India Limited (DFCCIL) has successfully launched a monumental Open Web Steel Girder measuring 110.5 metres in length and weighing approximately 1,500 tonnes at Kalamboli, in the JNPT–NILJE section of the Western Dedicated Freight Corridor (WDFC).
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12 May 2025 | 10:30 PM
Kolkata, May 12 (UNI) B C Jindal Group, one of India's leading business conglomerates with over Rs 18,000 crore turnover, on Monday announced that its renewable energy arm, Jindal India Renewable Energy (JIRE), has won a 300 MW solar plus storage project from state-owned, SJVN.
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Mint
an hour ago
- Mint
India's extreme poverty rate dropped sharply to 5.3% due to free, subsidised food transfers: World Bank data shows
New Delhi, Jun 7 (PTI) India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to USD 3 per day. Given India's inflation rate between 2017 and 2021, a revised extreme poverty line of USD 3 would constitute a 15 per cent higher threshold than USD 2.15 expressed in 2021 prices and result in a 5.3 per cent poverty rate in 2022-23, the World Bank said in a report. In India, the report said, 54,695,832 people lived on less than USD 3 per day in 2024. Thus, the poverty rate at USD 3 per day (2021 PPP -- percentage population) is 5.44 per cent in 2024. The extreme poverty rate decreased from 16.2 to 2.3 per cent between 2011-12 and 2022-23, while the poverty rate at the lower middle income country (LMIC) line declined by 33.7 percentage points, it said. Free and subsidised food transfers supported poverty reduction, and the rural-urban poverty gap narrowed. The five most populous states account for 54 per cent of the extremely poor, it said. With regard to economy, the report said, real GDP of India was around 5 per cent below the pre-pandemic trend level as of FY25. Growth should gradually converge back to potential over 2027-28 assuming the current global uncertainties are resolved in an orderly fashion, it said. "The outlook, however, is subject to significant downside risks, as policy shifts may continue to unfold globally. Elevated trade tensions would dampen demand for India's exports and further delay the recovery in investment," it said. The current account deficit is expected to average around 1.2 per cent of GDP over FY26-28 and remain adequately financed by capital inflows, it said, adding that foreign exchange reserves are projected to remain stable around 16 per cent of GDP. India has lifted 171 million people from extreme poverty in the decade between 2011-12 and 2022-23, the World Bank said. "Over the past decade, India has significantly reduced poverty. Extreme poverty (living on less than USD 2.15 per day) fell from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23, lifting 171 million people above this line, the World Bank had said in its 'Poverty & Equity Brief' on India in April. The rural extreme poverty dropped from 18.4 per cent to 2.8 per cent, and urban from 10.7 per cent to 1.1 per cent, narrowing the rural-urban gap from 7.7 to 1.7 percentage points a 16 per cent annual decline, it had said.
United News of India
an hour ago
- United News of India
UK FS Lammy calls on PM, strongly condemns Pahalgam attack, backs fight against cross-border terror
New Delhi, June 7 (UNI) UK Foreign Secretary David Lammy today called on Prime Minister Narendra Modi during which he strongly condemned the Pahalgam terror attack and expressed support for India's fight against cross-border terrorism. PM Modi underscored the need for a decisive international action against terrorism and those who support it. PM Modi said in a post on X that India values the UK's support for India's fight against cross-border terrorism. He also appreciated the UK Foreign Secretary's substantive contribution to the remarkable progress in the bilateral Comprehensive Strategic Partnership, which has been strengthened by the recently concluded FTA. 'Pleased to meet UK Foreign Secretary Mr. David Lammy. Appreciate his substantive contribution to the remarkable progress in our Comprehensive Strategic Partnership, further strengthened by the recently concluded FTA. Value UK's support for India's fight against cross-border terrorism.' An official readout of the meeting said: 'David Lammy, Foreign Secretary of the United Kingdom called on Prime Minister Narendra Modi today. 'PM Modi expressed satisfaction at the successful conclusion of the India-UK Free Trade Agreement and Double Contribution Convention and appreciated the constructive engagement by both sides that led to this milestone. 'PM Modi welcomed the growing momentum in bilateral ties and expressed satisfaction at the deepening of the India-UK Comprehensive Strategic Partnership. He welcomed the continued collaboration under the Technology Security Initiative and noted its potential to shape trusted and secure innovation ecosystems. 'FS David Lammy conveyed UK's strong interest in further enhancing cooperation across key sectors including trade and investment, defence and security, technology, innovation, and clean energy. He expressed confidence that the FTA will unlock new economic opportunities for both countries. 'The two leaders exchanged views on regional and global issues. UK Foreign Secretary strongly condemned the Pahalgam terror attack and expressed support for India's fight against cross border terrorism. PM Modi underscored the need for a decisive international action against terrorism and those who support it. 'Prime Minister conveyed his warm greetings to the UK Prime Minister Keir Starmer and reiterated the invitation for his visit to India at the earliest mutual convenience.' The UK Foreign Secretary said in a post on X: 'Thank you Prime Minister @narendramodi for your warm welcome to India. Building on the free trade agreement between our great countries, we will continue working together to deepen our partnership, celebrate our unique living bridge, and deliver growth and security.' Earlier, the UK FS met External Affairs Minister S Jaishankar for delegation level talks. The EAM posted on X: 'Glad to meet UK Foreign Secretary @DavidLammy today in Delhi. 'Appreciate UK's strong condemnation of the terrorist attack on Pahalgam and support in combatting terrorism. 'Our conversation focused on the significant strides being made by the India-UK Comprehensive Strategic Partnership. Agreed that as our collaboration continues to grow, new opportunities emerge. 'Also discussed global and regional issues as also cooperation in multilateral fora.' In his address during the talks, the EAM had thanked the UK government for 'the strong condemnation of the barbaric terrorist attack in Pahalgam in the Union Territory of Jammu & Kashmir and for your solidarity and support to India in the fight against terrorism.' EAM said that India practises 'a policy of zero tolerance against terrorism and expect our partners to understand it, and we will never countenance perpetrators of evil being put at par with its victims'. He termed the recent conclusion of the India-UK FTA and the Double Contribution Convention as 'truly a milestone which will not only propel our two way trade and investment but will have also have a positive effect on other strategic aspects of our bilateral ties, it would also contribute to the strengthening of supply and value chains'. 'Since your last visit to India, there have been significant initiatives which both of us have taken and those initiatives have progressed well. I would single out the Technology Security Initiative (TSI) which will enable deeper collaboration in strategic technology sectors of AI, Semiconductors, Telecom, Quantum, HealthTech/ Bio-Tech, Critical Minerals and Advanced Materials. 'We have also launched the Strategic Exports and Technology Cooperation Dialogue. 'Similarly, the UK-India infrastructure financial bridge can unlock quality long term capital flows from the United Kingdom to India, and that would surely contribute to our infrastructure development.' The UK Foreign Secretary said in a post on X: 'Great to see my friend @drSJaishankar in Delhi today. We are advancing a new era in UK-India relations — boosting trade and technology, tackling the climate crisis and providing greater security for our people.' UNI RN
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Business Standard
2 hours ago
- Business Standard
Little Caesars enters India with first outlet in Delhi-NCR this month
Little Caesars, a Detroit, Michigan-based world's third largest pizza chain, is entering the Indian market. India -- one of the fastest growing quick service restaurant markets -- will be the 30th market for Little Caesars, which is also the world's largest family-owned pizza chain, for which it has roped in Harnessing Harvest as its franchise partner. It has planned to open its first outlet in Delhi-NCR in this month, with plans for additional locations to follow, according to a statement from the company. "Launching in India marks an exciting milestone for Little Caesars as we expand into our 30th country. With our delicious pizzas and unbeatable value, we're eagerly anticipating introducing a unique menu that we believe will captivate India," said Paula Vissing, President, Global Retail, Little Caesars Pizza. Its entry into India market reflects the brand's commitment to global growth, bringing its signature menu and exceptional value to a new market, it said. Recently, Little Caesars has launched in markets such as Cambodia and Kuwait as part of its global expansion. Little Caesars, was founded by Mike and Marian Ilitch as a single, family-owned restaurant in 1959 and is headquartered in downtown Detroit, Michigan. The brand is known for its 'hot-n-ready' pizza, crazy puffs, and famed crazy bread in the US market. Its franchise partner, Harnessing Harvest, has nearly nine decades of operations in the Indian food and hospitality industry. According to a report from IMARC Group, the Indian pizza market size reached USD 5.3 billion in 2024. Looking forward, it expects the market to reach USD 11.8 billion by 2033, exhibiting a growth rate (CAGR) of 9.24 per cent during 2025-2033. The Indian pizza market is led by global QSR brands as Domino's, Pizza Hut operated by their local franchise partners. Besides, several home-grown brands such as La Pino'z, Brik Oven, BOCS Pizza, etc, are also key players in the market.
