India’s Jio could close in on 45% market share

Mumbai: The wireless carrier controlled by Indian billionaire Mukesh Ambani will probably keep drawing users away from rivals, reaching a market share of as much as 45 per cent by fiscal year 2022, from 30 per cent as of March, a unit of Fitch Group said. Reliance Jio Infocomm Ltd, which has been offering data […]

Bond gains juice Reserve Bank of India’s Rs1.76 trillion transfer to federal government

Mumbai: The Reserve Bank of India’s record payout to the government turns the focus back to the central bank’s profits and how it can afford such a massive transfer. Almost 70 per cent of the Rs1.76 trillion (Dh90 billion, $24.5 billion) disbursement is derived from the income the central bank earned on its investments, likely […]

Majid Al Futtaim records Dh17.9b in revenues

Dubai: With the region’s consumers remaining “cost-conscious”, the Majid Al Futtaim group recorded a 1 per cent gain in revenues to Dh17.9 billion in the first six months. The period saw the retail and entertainment focussed business add 65 VOX cinema screens to its network as well as 19 Carrefour stores and two shopping malls. […]

Germany mulls corporate tax break

Frankfurt Germany is looking to cap its corporate tax burden at 25 per cent as the country seeks to help smaller businesses amid signs the economy is lurching into a recession. The proposal was made by Economy Minister Peter Altmaier on Thursday as part of a package aimed at supporting the so-called Mittelstand — small […]

Indian economy set for weakest quarter of growth in 5 years

New Delhi: The Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand, according to economists polled by Reuters. That would reinforce concerns seen in the minutes from the central bank’s August meeting, which showed policymakers were worried about weak […]

India’s coal giant dig deep for domination

New Delhi: The world’s biggest coal miner is likely to hold on to its crown for now even as competition increases in India, which opened its doors to foreign miners to boost output and curb surging imports. India will allow 100 per cent foreign direct investment in mining and sale of coal. While that opens […]