Business Archives - Page 22 of 30

22 Jul

Gold Surges to ₹1 Lakh Mark in Delhi as Stockists Drive Demand; Silver Follows Rally

Rajeev Sharma0 CommentsBusinessDelhi gold rates, gold above 1 lakh, gold price today, silver price rally, stockist buying gold

New Delhi, July 22, 2025: Gold prices surged ₹1,000 on Tuesday, reclaiming the ₹1 lakh per 10 grams level in the national capital, driven by strong buying from stockists, as per the All India Sarafa Association. The 99.9 per cent pure yellow metal touched a four-week high of ₹1,00,020 per 10 grams, up from the previous close of ₹99,020. This marks the first time since June 19 that gold has breached the ₹1 lakh threshold.Gold of 99.5 per cent purity also witnessed a sharp gain of ₹1,000, trading at ₹99,550 per 10 grams (inclusive of all taxes), compared to ₹98,550…

21 Jul

$44 Million Vanishes in CoinDCX Hack; User Funds Safe, Says Company

Rajeev Sharma0 CommentsBusinessCoinDCX hack, cryptocurrency exchange, Solana-Ethereum bridge, Wormhole, ₹378 crore breach

National Times Bureau: In a significant blow to India’s crypto ecosystem, leading cryptocurrency exchange CoinDCX has reported a major security breach that led to the loss of approximately $44 million (around ₹378 crore). The platform clarified that the breach did not impact customer funds, which remain safe and accessible.The breach occurred on July 19, targeting an internal operational account used exclusively for providing liquidity on a partner exchange. CoinDCX, in an incident report released on Sunday, said the account was compromised through a "sophisticated server breach." The attacker gained unauthorized access to the liquidity infrastructure, allowing them to siphon off…

21 Jul

Freestyle Chess Grand Slam: Aronian Wins Title, Arjun and Praggnanandhaa Finish Sixth and Seventh

Rajeev Sharma0 CommentsBusinessArjun Erigaisi, Freestyle Chess Grand Slam, Levon Aronian, Magnus Carlsen, R Praggnanandhaa

National Times Bureau, July 21, 2025: Grandmaster Levon Aronian of the United States claimed the Freestyle Chess Grand Slam title after a tense 1.5-0.5 win over compatriot Hans Moke Niemann in the finals. The American star pocketed $200,000 for his victory, capping off an intense competition that featured some of the world's top chess players.India's Arjun Erigaisi and R Praggnanandhaa, who had both impressed in earlier rounds, finished sixth and seventh respectively. Arjun suffered a 0-2 defeat to American GM Fabiano Caruana, while Praggnanandhaa beat Wesley So 1.5-0.5 to end his campaign on a high note. Arjun earned $40,000 for…

20 Jul

Last-Minute Rush at Sector 53-54 Furniture Market Ahead of Demolition Drive

Gurpreet Singh0 CommentsBusiness

Chandigarh (National Times): A day before the UT Administration’s scheduled demolition of the illegal furniture market in Sectors 53 and 54, a massive crowd of bargain hunters swarmed the area on Saturday, hoping to buy household goods at slashed prices. However, much to their disappointment, the discounts turned out to be modest. Despite the anticipation of throwaway prices, many customers were met with only marginal markdowns. The surge in footfall led to traffic snarls on the road dividing Sectors 53 and 54, as the market lacks dedicated parking. In the chaos, transporters capitalised on the demand spike by hiking freight…

19 Jul

India’s Electronics Exports Cross $40 Billion, Bullet Train and Semiconductor Plans on Track: Ashwini Vaishnaw

Rajeev Sharma0 CommentsBusiness, IndiaAshwini Vaishnaw, bullet train project, IIT Hyderabad, India electronics exports, semiconductor chip

Hyderabad, July 19, 2025 — Union Minister Ashwini Vaishnaw on Saturday announced that India's electronics exports have surged past USD 40 billion an eight-fold increase over the last 11 year signaling the country’s aggressive push toward becoming a global manufacturing hub.Speaking at the 14th Convocation of IIT Hyderabad, Vaishnaw said the domestic electronics production has grown six times during the same period. “That’s a double-digit compound annual growth rate, something any corporate would envy,” he noted.The Minister credited this remarkable growth to Prime Minister Narendra Modi’s long-term vision. “Very few countries of our size have ever seen this kind of…

17 Jul

Samsung Chief Jay Y. Lee Cleared in Final Court Ruling Over $8 Billion Merger

Rajeev Sharma0 CommentsBusinessJay Y. Lee, Samsung Electronics, South Korea Supreme Court, stock manipulation case

Seoul, July 17, 2025 — South Korea’s Supreme Court on Thursday upheld the acquittal of Samsung Electronics Chairman Jay Y. Lee in a long-running legal battle over alleged accounting fraud and stock manipulation related to a controversial $8 billion merger in 2015.The verdict affirms rulings by both lower and appellate courts, ending a nearly decade-long saga that began when prosecutors accused Lee of orchestrating the merger of Samsung C&T and Cheil Industries to consolidate control over the tech conglomerate following his father's incapacitation.With the court’s decision, Lee is now permanently cleared of all charges, a development analysts say removes a…

16 Jul

Parliamentary Panel Proposes 285 Changes to Income Tax Bill, 2025 Ahead of Monsoon Session

Rajeev Sharma0 CommentsBusiness, IndiaBaijayant Panda, Income Tax Bill 2025, Lok Sabha, Parliamentary panel

New Delhi, July 16, 2025: A parliamentary panel scrutinising the landmark Income Tax Bill, 2025 has suggested as many as 285 changes to the draft legislation, which aims to overhaul and modernise India’s income tax laws.The Select Committee of the Lok Sabha, chaired by BJP leader Baijayant Panda, finalised its report on Wednesday. The report is set to be tabled in the Lok Sabha on Monday, coinciding with the opening day of Parliament’s Monsoon session.“We have made 285 suggestions to the Bill,” confirmed a member of the committee, reflecting the panel’s extensive engagement with the proposed legislation.The government is expected…

15 Jul

Tesla Launches Model Y in India at Highest Global Price, Opens Mumbai Showroom

Rajeev Sharma0 CommentsBusiness, IndiaModel Y price India, Tesla India launch, Tesla Mumbai showroom

Mumbai, July 15, 2025: Tech billionaire Elon Musk’s Tesla has officially rolled out its Model Y in India, pricing it at about USD 69,770 (approximately Rs 59.9 lakh), making it the costliest market globally for the electric SUV. The launch coincides with the opening of Tesla’s first Indian showroom in Mumbai on Tuesday.Deliveries of the Model Y are slated to begin in the third quarter of 2025. Tesla aims to tap into India’s premium electric vehicle (EV) segment, which currently comprises just around 4% of total car sales in the world’s third-largest automobile market.Unlike mass-market domestic EV players such as…

14 Jul

India, US Begin Key Bilateral Trade Talks in Washington DC

Rajeev Sharma0 CommentsBusiness, IndiaBilateral Trade Agreement, India-US trade talks, Rajesh Aggarwal

Washington DC [US], July 14, 2025: A high-level delegation from India’s Ministry of Commerce and Industry has arrived in Washington DC to advance negotiations on a much-anticipated Bilateral Trade Agreement (BTA) with the United States, officials confirmed on Sunday. The new round of talks, scheduled to begin Monday morning (US time), will continue over four days and aims to narrow gaps on key issues, including agriculture and automobiles, which have posed hurdles in previous discussions. Rajesh Aggarwal, India’s Chief Negotiator and Special Secretary in the Commerce Ministry, is expected to join the discussions on Wednesday. The advance arrival of the…

12 Jul

Tesla Gears Up for India Debut with Mumbai Experience Centre, Faces Policy and Political Crosscurrents

Rajeev Sharma0 CommentsBusinessElon Musk, Model Y SUV, Tesla India launch, Tesla Mumbai experience centre

Mumbai/New Delhi, July 12, 2025 — Global electric vehicle giant Tesla is preparing to make its official foray into the Indian market next week, with the grand opening of its first experience centre in Mumbai’s Bandra Kurla Complex.The highly anticipated launch event, scheduled for July 15, has been branded as the “launch of Tesla in India,” according to exclusive invitations circulated by the Elon Musk-led firm. Tesla has not issued any official statement in response to media queries about the launch.Industry insiders say the company has already imported its first fleet of vehicles, reportedly the Model Y rear-wheel drive SUVs,…