Business Archives - National Times

09 Aug

ICICI Bank Hikes Minimum Balance Requirements for Savings Accounts

Rajeev Sharma0 CommentsBusiness, IndiaICICI Bank minimum balance hike, ICICI metro urban rural charges, savings account rules 2025

New Delhi, August 9, 2025 — ICICI Bank has sharply raised the minimum average balance requirement for savings accounts across all categories of branches, with the revised norms taking effect from August 1, 2025. The change marks one of the steepest hikes in recent years for a major private lender, potentially affecting millions of account holders nationwide.In metro and urban branches, the minimum average balance has surged to ₹50,000, a fivefold increase from the earlier ₹10,000 threshold. Semi-urban customers will now have to maintain ₹25,000, up from ₹5,000, while those banking in rural branches face a new requirement of ₹10,000,…

08 Aug

Government Withdraws Income-Tax Bill, 2025; Revised Version to be Introduced on August 11

Rajeev Sharma0 CommentsBusiness, IndiaBaijayant Panda, Income-Tax Bill 2025, Lok Sabha, Nirmala Sitharaman

New Delhi, August 8, 2025 — The Central Government on Friday formally withdrew the Income-Tax Bill, 2025 from the Lok Sabha, paving the way for a revised draft that will incorporate extensive recommendations from the Parliamentary Select Committee. The motion for withdrawal, moved by Finance Minister Nirmala Sitharaman, was passed by the House despite uproar from Opposition members.The decision follows a comprehensive review of the Bill by a 31-member Select Committee chaired by BJP MP Baijayant Panda. The panel had presented its findings on July 21, the opening day of the Monsoon session. Over several weeks of deliberations and consultations…

07 Aug

India Will Not Bow to Pressure: PM Modi Reaffirms Commitment to Farmers Amid Tariff Tensions with US

Rajeev Sharma0 CommentsBusiness, India, TrendingNarendra Modi

New Delhi (Rajeev Sharma): Prime Minister Narendra Modi sent a clear and defiant message to the global stage on Thursday, asserting that India will always prioritize the interests of its farmers, regardless of the international consequences. His remarks came during the MS Swaminathan Centenary International Conference, held in honor of the legendary agricultural scientist known as the father of India’s Green Revolution. “In our journey of development, the welfare of our farmers, fishermen, and dairy workers remains non-negotiable,” PM Modi said. “India will never compromise on their interests. Even if it comes at a cost, I am fully prepared to…

06 Aug

Trump Slaps 25% Tariff on Indian Imports Over Continued Russian Oil Purchases

Rajeev Sharma0 CommentsBusiness, India, World NewsDonald Trump, Executive Order, India, Russian oil, Tariffs, U.S-India trade, U.S. sanctions

Washington, D.C., August 6, 2025 — In a bold escalation of U.S. economic pressure tied to the ongoing Ukraine conflict, President Donald J. Trump signed an executive order today imposing a 25% tariff on all imports from India. The move comes in direct response to India’s continued purchase of Russian oil, which the administration has deemed a threat to U.S. national security and foreign policy interests.The executive order cites authority from the International Emergency Economic Powers Act and the National Emergencies Act, asserting that India's direct and indirect imports of Russian crude oil violate the spirit of sanctions previously placed…

06 Aug

Gautam Adani Steps Down as Executive Chairman of APSEZ, Assumes Non-Executive Role

Rajeev Sharma0 CommentsBusinessAdani Group, APSEZ, Executive Chairman, Gautam Adani, Manish Agarwal, Non-Executive Chairman

Mumbai, August 6, 2025 – In a significant leadership shift, Gautam Adani has stepped down from his position as Executive Chairman of Adani Ports and Special Economic Zone (APSEZ), transitioning to the role of Non-Executive Chairman with effect from August 5. The move comes as part of regulatory compliance and corporate restructuring within the Adani Group.The company confirmed the decision in a regulatory filing, noting that Adani will no longer be considered a key managerial personnel (KMP) at APSEZ. The change aligns with the Companies Act, which restricts individuals from holding executive roles in multiple firms simultaneously. With APSEZ already…

06 Aug

Hazoor Multi Projects Acquires Quippo Oil and Gas Infrastructure

nishuthapar10 CommentsBusiness, Trending

Hazoor Multi Projects Ltd. (HMPL) one of India's fastest-growing infrastructure and engineering enterprises, is pleased to announce the successful acquisition of Quippo Oil & Gas Infrastructure Ltd. (Quippo) through a competitive Swiss Challenge bidding process. With this milestone, HMPL makes its official entry into India's upstream Oil & Gas sector-particularly offshore services-ushering in a new era of growth, diversification, and long-term value creation. Mr. Gurinder Kamboj, HMPL's nominee Director on Quippo's board The acquisition, completed through subsidiary route, reflects more than a strategic shift; it represents HMPL's evolving identity-from a high-performing infrastructure EPC company to a diversified platform capable of…

06 Aug

TUMI Celebrates Grand Opening of First China Flagship Store at Shanghai Centre

nishuthapar10 CommentsBusiness, Trending

Hong Kong SAR TUMI, the leading international travel, lifestyle and accessories brand, celebrated the grand opening of its first China flagship store at the iconic Shanghai Centre. TUMI welcomed guests to an exclusive launch event in celebration of the flagships grand opening-an evening rooted in design, culture, and meaningful connection. This milestone flagship is the latest reflection of the brands continued investment in the region and its commitment to serving the global traveler with immersive, elevated and personalized retail experiences. An Exclusive Milestone Celebration A symbolic ribbon-cutting ceremony marked the occasion, drawing notable guests from across the region and beyond…

06 Aug

Mark Carney’s $1.2 Billion Forestry Support Plan Welcomed in B.C., but Industry Calls for U.S. Trade Deal

Rajeev Sharma0 CommentsBusiness, Canada, TrendingCanada, Mark Carney

British Columbia (Richa Walia): The federal government’s $1.2 billion relief package for Canada’s struggling forestry sector has received a cautious welcome in British Columbia, where industry leaders stress that long-term solutions must include a new trade agreement with the United States. The announcement, made by Prime Minister Mark Carney in West Kelowna on Tuesday, comes as American import duties on Canadian softwood lumber continue to rise. Under the plan, $700 million will be allocated for loan guarantees to help companies stabilize operations, while $500 million will fund the development of new products and markets. An additional $500 million will support…

05 Aug

Anil Ambani Appears Before ED in ₹17,000-Crore Money Laundering Probe

Rajeev Sharma0 CommentsBusiness000 crore bank fraud, Anil Ambani ED, money laundering, Reliance Group investigation, Yes Bank scam, ₹17

New Delhi, August 5, 2025 — Industrialist and Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) on Tuesday in connection with a sprawling money laundering investigation into alleged bank loan frauds exceeding ₹17,000 crore involving several of his group companies.Ambani, 66, reached the ED headquarters in central Delhi around 10:50 am, arriving in an electric vehicle. His statement is being recorded under the Prevention of Money Laundering Act (PMLA), official sources confirmed.The questioning comes just weeks after a sweeping ED operation on July 24, during which the agency raided 35 locations tied to nearly 50 companies and…

05 Aug

Punjab Govt Constitutes 15 Industrial Committees, Pahwa to Lead Bicycle Industry Panel

Gurpreet Singh0 CommentsBusiness, PunjabPunjab News

National Times Bureau :- Punjab minister Sanjeev Arora on Tuesday announced 15 more committees dedicated to specific industrial sectors, taking the number of such panels formed so far in the state to 24.The panels are part of Punjab govt's efforts to gather suggestions from industry experts to strengthen its industrial policy and improve ease of doing business.The new committees, which include members from diverse industrial sectors, will act as a think tank to recommend sector-specific policy measures. The new committees will focus on the IT sector, bicycle industry, auto and auto components, electric vehicles, renewable energy, steel and rolling mills,…