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Coal India Ltd said today it had breached its annual production target of 700 million tonnes, the first time it had surpassed its goal since the fiscal year that ended in March 2006. The world's largest coal mining company will likely end the fiscal year ending on Friday with an output of 703.4 million tonnes, it said, 13% higher than the 622.6 million tonnes it produced the previous fiscal year. "The volume increase of a whopping 81 million tonnes in a single year, by fiscal year 2023 end, would be a historic high since the company's inception," the company said in a statement on Friday. Coal India last achieved its annual production target in 2006, when it produced 343.4 million tonnes against a plan to produce 343 million tonnes. The miner, which accounts for 80% of India's annual coal output, is targeting production of 780 million tonnes in the upcoming fiscal year, in a bid to fire its power utilities, which are expected to burn about 8% more coal in the

It is a marathon weekend of high-level televised rugby, with five SA franchises featured live in the Champions or Challenge Cup. from News24 Top Stories https://ift.tt/Hu5gcVw

The Blitzboks held on for a 14-7 win over Ireland in their Pool D opener at the Hong Kong Sevens on Friday. from News24 Top Stories https://ift.tt/XoE3zHt

Adrian Gore writes that he has a deep belief in the potential of our country and it is clear to him that this is not a time for pessimism, despair and inaction. He argues that, on the contrary, we are in desperate need of optimism, hope and action. from News24 Top Stories https://ift.tt/D8WIGXK

Commerce Secretary Sunil Barthwal today said India is ready to trade in Indian rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India's exports to $2 trillion by 2030, the secretary also said the government is focusing on strengthening the rupee payment system. Changes have been made in the FTP to allow international trade settlement in Indian rupee with a view to making INR a global currency. Addressing the gathering, Commerce and Industry Minister Piyush Goyal exuded confidence that the export target of $2 trillion by 2030 will be met. He stressed that any industry cannot succeed only on the basis of subsidy or crutches. In the coming days, the idea of exports will change in the country, Piyush Goyal said. FTP 2023 has been announced to provide policy continuity and a responsive framework, said Director General of Foreign Trade (DGFT) Santosh Sarangi. The

The government today came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023. The DGFT also said India is likely to end this fiscal year with total exports of  $760-770 billion as against $676 billion in 2021-22. The last five-year policy came into force on April 1, 2015. However, it was extended several times in the wake of coronavirus outbreak and subsequent disruptions in economic activities globally. The last extension was given in September 2022 till March 31, 2023. The new FTP identifies four new Towns of Export Exc

One of the four men arrested in Belhar, Cape Town in connection with the murders of rapper Kiernan 'AKA' Forbes and Tebello 'Tibz' Motsoane has been charged with robbery with aggravating circumstances. from News24 Top Stories https://ift.tt/7EYGDTJ

Chaos broke out as City of Cape Town councillors were about to conclude a six-hour-long council meeting, and led to a physical altercation between ANC and DA members. from News24 Top Stories https://ift.tt/8xhtqYP

The Centre has asked IAS (Indian Administrative Service), IPS (Indian Police Service), and IFS (Indian Forest Service) officers to intimate it in case the total transactions in stock, share or other investments exceed their six months' basic pay during a calendar year, according to a latest order by the personnel ministry. This intimation is in addition to similar information that needs to be shared by them under Rule 16 (4) of AIS or All India Services (Conduct) Rules, 1968. These rules are applicable to the members of three All India Services -- Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS). "...With a view to enable the administrative authorities to keep a watch over the transactions in any stock, share or other investments etc. in respect of members of All India Services (AIS), it has been decided that an intimation may be sent in the enclosed proforma to the prescribed authority every year, if the total transactions in

SA's biggest retailer Shoprite said on Thursday it is now offering the lowest mobile data prices in the market, slashing its data prices by more than a third on k'nect mobile, its cellular network. from News24 Top Stories https://ift.tt/2fd0mHN

Three men have been released after they were taken into custody along with two others in Belhar, Cape Town over the weekend, according to their lawyer. from News24 Top Stories https://ift.tt/HCsdkqM

The government has exempted basic customs duty on all drugs and food for special medical purposes imported for personal use for treatment of rare diseases. The import duty waiver will come into effect from April 1. Also, the government has exempted Pembrolizumab (Keytruda), used in treatment of various cancers, from basic customs duty. Drugs/Medicines generally attract basic customs duty of 10 per cent, while some categories of life saving drugs/vaccines attract a concessional rate of 5 per cent or Nil. "The Central Government has given full exemption from basic customs duty on all drugs and Food for Special Medical Purposes imported for personal use for treatment of all Rare Diseases listed under the National Policy for Rare Diseases 2021," a finance ministry statement said. Food for Special Medical Purposes is a food formulation intended to provide nutritional support to persons who suffer from a specific disease, disorder or a medical condition, as a part of their die

Naspers and Prosus chair Koos Bekker has sold Prosus shares worth R3.4 billion to fund the development of hotels. from News24 Top Stories https://ift.tt/JzWki7R

Alibaba Group said today it will look to monetise non-core assets and consider giving up control of some businesses, as the Chinese tech conglomerate reinvents itself after a regulatory crackdown that wiped 70% off its shares. Group CEO Daniel Zhang said the company's breakup into separate businesses will allow its units to become more agile and eventually list on their own. His comments come two days after Alibaba announced its largest restructuring in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs. "Alibaba will be more of the nature of an asset and capital operator than a business operator, in relation to the business group companies," Zhang told investors on a conference call on Thursday. On the same call, Alibaba CFO Toby Xu said the group would "continue to evaluate the strategic importance of these companies" and "decide whether or not to continue t

Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told an Indian tribunal today that they have settled a dispute over a loan default, paving the way for the media company's merger with a local unit of Sony. IndusInd started bankruptcy proceedings against Zee Entertainment late last month over a default of 830.80 million rupees ($10.10 million). Zee Entertainment challenged the move in the National Company Law Appellate Tribunal (NCLT), which put the insolvency proceedings on hold. IndusInd Bank, on Wednesday, told the NCLT that it would also withdraw its objection to Zee Entertainment's merger with a local unit of Japan's Sony. Zee Entertainment's shares jumped as much as 4.4% to a nearly one-week high.  (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) from NDTV Profit-Latest https://ift.tt/m5FaGPc Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told an Indian tribunal today that they

Parliament arson accused Zandile Mafe's trial has been marked by at least six exceptions in the way people awaiting trial are treated, notably his referral to an out-of-province psychiatric facility. from News24 Top Stories https://ift.tt/ezSVwKY

NPCI (National Payments Corporation of India ) today said there is no charge for the bank account to bank account-based UPI (Unified Payments Interface) payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement. NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 per cent charge on unified payment interface (UPI) transactions above Rs 2,000 while using PPI. "The interchange charges introduced are only applicable for the PPI merchant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank account-based UPI payments (i.e. normal UPI payments)," it said. NPCI Press Release: UPI is free, fast, secure and seamless Every month, over 8 billion transactions are processed free for customers and merchants using ba

All the ten listed Adani Group stocks were trading in the positive territory on Wednesday after two days of decline. Shares of Adani Enterprises jumped 5.46 per cent, Adani Power climbed 4.98 per cent, Adani Ports (4.70 per cent), Adani Wilmar (4.22 per cent) and Adani Green Energy (4.15 per cent) on the BSE. The stock of NDTV advanced 3.73 per cent, Adani Transmission went up by 2 per cent, Adani Total Gas (2 per cent), Ambuja Cements (1.94 per cent) and ACC (1.92 per cent). Shares of all the ten listed firms of Adani Group ended lower for the second day in a row on Tuesday, with Adani Enterprises tumbling 7 per cent. The group stocks were down on Tuesday amid reports on debt payment not matching with pledged shares data. Adani Group CFO Jugeshinder Robbie Singh on Tuesday said stock exchanges update data on promoter share pledges at the end of the quarter, as he tried to clarify on present data not matching with the conglomerate's statement of repaying all the USD 2.15 billi

Capital markets regulator Sebi today extended the deadline till September-end for existing trading and demat account holders to provide choice of nomination or opt out of nomination. Earlier the deadline was March 31, 2023. In July 2021, the Securities and Exchange Board of India (Sebi) asked all existing eligible trading and demat account holders to provide choice of nomination on or before March 31, 2022, failing which the trading and demat accounts would have been frozen for debits. Later, this was extended by one more year till March 31, 2023. "Based on the assessment of the trading as well as demat accounts in which choice of nomination details (furnishing of nomination or declaration for opting out of nomination) has not been updated and on the basis of representations received from the stakeholders, it has been decided that the provisions... with regard to freezing of accounts shall come into force with effect from September 30, 2023 instead of March 31, 2023," Seb

Trai (Telecom Regulatory Authority of India) on Monday asked telcos to take immediate action to curb pesky calls and messages by getting banks and FIs to clean up unused templates, as the regulator initiated a slew of steps to crackdown on the issue of unsolicited commercial communications (UCC) that, at times, leads to instances of frauds and scams. Trai held a review meeting with telecom operators like Bharti Airtel, Jio, and Vodafone Idea (VIL) on issue of UCC detect system. During the meeting, Vodafone Idea made a presentation on a AI/ML (Artificial Intelligence/Machine Learning) system that can analyse and detect patterns when it comes to fraudulent messages being sent from mobile numbers by scammers. Trai said permission will now be given to VIL for a pilot, and based on its success Trai will come out with principles/regulations for such solutions in the industry. The deadline for review of implementation of UCC detect system using AI/ML is May 1. "Today we have made it

Leicester Tigers coach Richard Wigglesworth has heaped praise on Springbok flyhalf Handre Pollard after a stellar performance in their Premiership win over Bristol Bears. from News24 Top Stories https://ift.tt/dS4KtfM

Zydus Lifesciences today said it has received approval from the US health regulator to market a generic product which is used to treat myxedema coma. The company has received the final approval for Levothyroxine Sodium for Injection in strength of 100 mcg/vial, 200 mcg/vial, and 500 mcg/vial from the US Food and Drug Administration (USFDA), the drug firm said in a statement. Levothyroxine Sodium Injection is indicated for the treatment of myxedema coma. Zydus said the drug will be manufactured at the group's injectable manufacturing facility at Jarod, near Vadodara (India). Shares of the company were trading 0.19 per cent up at Rs 483.20 apiece on the BSE. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) from NDTV Profit-Latest https://ift.tt/yJ6qvXw Zydus Lifesciences today said it has received approval from the US health regulator to market a generic product which is used to treat myxedema coma. The company

Stormers coach John Dobson says they'll be well prepared for Saturday's home Champions Cup clash against English club Harlequins. from News24 Top Stories https://ift.tt/MOYkFyv

Retirement fund body EPFO (Employees' Provident Fund Organisation) fixed 8.15 per cent  rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its  meeting today. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent. "The Employees' Provident Fund Organisation's apex decision-making body Central Board of Trustees (CBT) has decided to provide 8.15 per cent rate of interest on EPF for 2022-23 at its meeting on Tuesday," a source said. The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by CBT in March 2021. After the CBT's decision, the interest rate on EPF deposits for 2022-23 will be sent to Ministry of Finance for concurrence. After the government's ratification, the interest rate on EPF for 2022-23 will b

Reeza Hendricks believes there is no reason for the Proteas attack to feel down, or to be criticised for conceding 258 runs in 20 overs against the Windies in Sunday's momentous second T20 victory. from News24 Top Stories https://ift.tt/PhLQw3j

Gold prices fell for a second straight session on Monday as the U.S. dollar firmed, while investors weighed measures taken by authorities to assuage fears of a crisis in the global banking sector. Spot gold was down 0.5% at $1,967.86 per ounce, as of 0632 GMT. U.S. gold futures slipped 0.8% to $1,968.90. The dollar index rose 0.2% and made bullion less affordable for overseas buyers. First Citizens BancShares Inc will acquire all of Silicon Valley Bank's deposits and loans from the Federal Deposit Insurance Corporation. The news cast an uneasy calm over fragile markets on Monday. "Markets continue to adopt a cautious stance... On net, the mix of growth worries, lingering concerns of banking stresses could benefit safe-haven proxies such as USD, JPY and gold in the interim," said OCBC FX strategist Christopher Wong. Gold had risen above the $2,000 mark after the sudden collapse of two U.S. lenders, but has since pulled back from those levels after rescue measures by a

Newly appointed electricity minister, Kgosientso Ramokgopa, says the Lethabo Power Station in the Free State is the first that he has come across that is performing well. from News24 Top Stories https://ift.tt/AnMbGml

Skincare startup Mamaearth has put its initial public offering (IPO) on hold because of weak market conditions, two people with direct knowledge of the matter said, a month after two other Indian companies also scrapped their share sales. Mamaearth parent Honasa Consumer Ltd filed its documents for an IPO in December, planning to raise about $200 million to $300 million, through the issuing of new equity and an offer for sale of some existing shares, which could have valued the company at up to $3 billion. Backed by investors such as Sequoia Capital and Belgium's Sofina, Mamaearth is now in a "wait and watch mode", the sources said, given the turbulence in stock markets globally amid worries about the financial health of banks. Founded in 2016 by the husband and wife duo of Varun and Ghazal Alagh, Mamaearth has been betting on India's booming beauty and personal care market, which is estimated to expand to $30 billion by 2026 and has been growing by 12% a year, per

Countries have increased scrutiny over the use of TikTok citing national security concerns. from News24 Top Stories https://ift.tt/Nb4GcFM

ANC struggle veteran Moosa 'Mosie' Moolla has died after a long illness, at the age of 88. from News24 Top Stories https://ift.tt/neIPDGA

Shares in Deutsche Bank fell heavily on Friday on the lender's surging cost of default cover, reigniting fears about a widening banking sector crisis. Germany's biggest lender dropped more than 14 percent on the Frankfurt Stock Exchange in early trade, before clawing back ground to close 8.5 percent lower, at 8.54 euros. The cost of insuring the bank's debt against a risk of defaulting -- so-called credit default swaps -- has surged as investors fret about the banking sector's health. Long-troubled Deutsche Bank has become the focus of investor concerns after the collapse of three regional US lenders and the enforced takeover of Credit Suisse by rival UBS triggered market turmoil earlier this month. Deutsche's cross-town rival Commerzbank also fared poorly, dropping 8.5 percent in early trade, before winning back ground to close 5.45 percent off at 8.88 euros. The German banks led falls among lenders across Europe, with Societe Generale and BNP Paribas in Paris

Countries have increased scrutiny over the use of TikTok citing national security concerns. from News24 Top Stories https://ift.tt/rEV3MUB

The Hawks in Limpopo have denied dropping an investigation into the qualifications of a labour relations director who a union claims enjoys protection because he is Premier Stanley Mathabatha’s henchman. from News24 Top Stories https://ift.tt/DygxJR1

Proteas limited over seamer Sisanda Magala said their rain-shortened first T20 against the West Indies at SuperSport Park on Saturday was nothing short of chaotic. from News24 Top Stories https://ift.tt/ZC8Qk0E

Reliance Industries Ltd has appointed Srikanth Venkatachari as chief financial officer effective June 1, according a late evening release by the company. He takes over from Alok Agarwal, who has been CFO since 2005, and will now assume the role of senior advisor to Reliance Chairman Mukesh Ambani. Mr Venkatachari is currently the joint CFO for the company. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) from NDTV Profit-Latest https://ift.tt/iNuq1xf Reliance Industries Ltd has appointed Srikanth Venkatachari as chief financial officer effective June 1, according a late evening release by the company. He takes over from Alok Agarwal, who has been CFO since 2005, and will now assume the role of senior advisor to Reliance Chairman Mukesh Ambani. Mr Venkatachari is currently the joint CFO for the company. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

More than 40 Race2Rescue Cape of Good Hope SPCA cyclists braved the gruelling 109km Cape Town Cycle Tour last weekend, choosing to ride for the organisation because of its work and dedication to animals. from News24 Top Stories https://ift.tt/teBUyhO

Selena Gomez has taken to social media, pleading with fans to stop harassing Hailey Bieber. from News24 Top Stories https://ift.tt/LQoes28

Reese Witherspoon and Jim Toth shared a statement Friday announcing their split after 12 years together. from News24 Top Stories https://ift.tt/0mdupb5

When the statue of the late Archbishop Emeritus Desmond Tutu was unveiled in Cape Town, artists Cristina Salvoldi and Tania Lee looked at the tears in the eyes of Tutu's family members. from News24 Top Stories https://ift.tt/OcZnXqm

Bafana Bafana head coach Hugo Broos has questioned how the Confederation of African Football allowed Morocco to play their away Africa Cup of Nations qualifier against Liberia on home soil in Casablanca. from News24 Top Stories https://ift.tt/r0Vw2AP

India will tax investments in debt mutual funds as short-term capital gains, according to a source with knowledge of the matter, a move that could strip investors of the long-term tax benefits that made such investments popular. The decision was moved as part of the finance bill amendments passed in parliament today. COMMENTARY NARENDRA DIXIT, HEAD – RETAIL BANKING, CSB BANK, MUMBAI "As of now, debt mutual funds are treated as long-term investments if held for more than three years and taxed at the rate of 20% along with indexation benefits or 10% without indexation. For those with a holding period of less than three years, they are taxed according to their tax slab." "So for investors having more than three-year horizon, debt schemes were better vis-a-vis FD (fixed deposit) in higher tax brackets. While FD always has the element of return being known upfront as rate of interest is fixed, debt funds had the taxation edge due to the above rule." "Now with

Plane giants Airbus and Boeing face mounting pressure to set up jetliner plants in India, after the country's civil aviation minister told Reuters the "time has come" to serve its soaring demand with jets assembled on domestic soil. Jyotiraditya Scindia said conditions were ripe for a "leap of faith" by both jetmakers as India's fast-growing aeronautical industry reaches an "inflection point" - highlighted by plans to assemble Airbus C295 military transport planes locally in India. Asked whether Airbus and Boeing should now consider setting up jetliner assembly in India, Scindia said, "Absolutely, and with a capital A, and the reason why I said capital A is because Airbus has already made that huge landmark step: the C295." Airbus and Boeing have both highlighted the scale and technology of existing investments in India, playing down the significance of final passenger jet assembly. An Airbus-Tata consortium plans to assemble 40 C295

One of the defence lawyers in the Pete Mihalik murder trial might recuse himself after he accused the State of possibly violating lawyer-client privilege during cross-examination. from News24 Top Stories https://ift.tt/37g5nhS

India may propose that investments in debt mutual funds be taxed as short-term capital gains, according to a source with knowledge of the matter, a move that could strip investors of the long-term tax benefits that made such investments popular. The change could benefit bank deposits, which have been growing more slowly than credit demand over the past 12 months leading to higher funding costs for lenders. The proposed changes are likely to be part of the finance bill amendments that could be tabled in the parliament on Friday. Mutual funds with less than 35% invested in equities are proposed to be treated as short-term and the indexation benefits that help significantly reduce tax liability available to such funds may be removed prospectively, the source said. As such, the tax rate applicable would be based on the income tax slab in which the investor falls. "The impact would be meaningful, if you are a debt investor, you will compare returns with other debt instruments,&quo