Bhubaneswar, Aug 13 (IANS) The Odisha Cabinet, on Wednesday, approved the establishment of a world-class Maintenance, Repair, and Overhaul (MRO) facility at the Biju Patnaik International Airport (BPIA) in Bhubaneswar, marking a major move to position Odisha as a key hub for aviation services in the region. The decision was taken during a meeting of the state Cabinet held here under the chairmanship of Chief Minister Mohan Charan Majhi. According to an official statement issued by the Odisha gov…

New Delhi, Aug 13 (IANS) The Food Safety and Standards Authority of India (FSSAI), on Wednesday, urged the food manufacturing industry to make “truthful and honest declarations” on food labels and packages.At the National Stakeholder Consultation on ‘Comprehensive analysis of Regulatory Framework on Food Labelling, Advertisement and Claims’, held at the Vigyan Bhawan, here, the FSSAI underlined the collective responsibility to ensure that the information on food packages are accurate, transpar…

New Delhi, Aug 13 (IANS) Prime Minister Narendra Modi on Wednesday hailed India’s landmark achievement of setting up 100 GW solar PV module manufacturing capacity aligned with the national vision of Atmanirbhar Bharat and the global imperative for clean energy transition.“This is yet another milestone towards self-reliance! It depicts the success of India’s manufacturing capabilities and our efforts towards popularising clean energy,” PM Modi said in a post on X.The Prime Minister was resp…

Mumbai, Aug 13 (IANS) BSE Index Services Pvt Ltd, a wholly owned subsidiary of the Bombay Stock Exchange (BSE), on Wednesday, announced the launch of a new index – BSE India Defence. The BSE India Defence index aims to track the performance of those stocks representing the defence sector, the stock exchange said.Stocks forming part of specific basic industries or those associated with defence will be included in the index.The BSE India Defence Index is derived from the constituents of the BSE 10…

Mumbai, Aug 13 (IANS) Softer lending rates in the Indian economy due to the transmission of the RBI’s repo rate cuts to other rates, such as bank lending rates and deposit rates, continued in July, leading to an improvement in financial conditions during the month, according to a report released on Wednesday.Key bank lending rates, such as the one-year marginal cost of funds-based lending rate (MCLR) and auto loan rate, eased 15 bps to 8.75 per cent and 7 bps, respectively to 9.19 per cent, whil…

New Delhi, Aug 13 (IANS) Asian Energy Services Limited reported a sharp sequential drop in net profit for the first quarter of FY26 at Rs 5.63 crore, as revenues and margins eased from the previous quarter’s high base, according to an exchange filing on Wednesday.For Q1 FY26, the company posted a net profit of Rs 5.63 crore, down 75 per cent QoQ from Rs 22.5 crore in Q4 FY25. Total income stood at Rs 117.35 crore, falling 46 per cent QoQ from Rs 217.13 crore in the preceding quarter.Expenses a…

New Delhi, Aug 13 (IANS) The overall gross exports of gems & jewellery registered a robust increase of 15.98 per cent to $2.18 billion (Rs 18,756.28 crore) during July this year, as compared to $1.88 billion (Rs 15,700 crore) for the same month of the previous year, according to data released by the Gems and Jewellery Export Promotion Council (GJEPC) on Wednesday.On the other hand, the overall gross imports of gems & jewellery witnessed a growth of 26.55 per cent to $1.8 billion (Rs 15,5…

New Delhi, Aug 13 (IANS) Reserve Bank of India’s (RBI) revised directions on co-lending will boost the transparency in the lending space by strengthening disclosure requirements and expanding regulatory oversight beyond banks and NBFCs, a report said on Wednesday.All forms of loans will fall under the regulatory oversight compared with only priority sector loans currently, Crisil Ratings said in the report.The directions also require each RE (regulated entity) to retain a minimum 10 per cent sha…

New Delhi, Aug 13 (IANS) Several global satellite operators like Intelsat, SES (both from Luxembourg), and Inmarsat (from the UK) are vying for a share in India’s $2.3 billion satcom market boom, according to media reports.The companies, which also include Singapore Telecom, KT SAT (Korea), IPSTAR (Thailand), and PT Telekomunikasi (Indonesia), are adding satellite capacity to tap into India’s fast-growing satcom market — projected to reach $20 billion by 2028.These are also forging partnerships…

Mumbai, Aug 13 (IANS) Omnichannel kidswear brand FirstCry’s parent company, Brainbees Solutions, on Wednesday reported a consolidated net loss of Rs 66.5 crore for the first quarter (Q1) of FY26. This is 12 per cent lower than the Rs 75.6 crore loss recorded in the same quarter previous year (Q1 FY25), according to its stock exchange filing.On a sequential basis, the loss fell sharply by 41 per cent from Rs 111.5 crore in the previous March quarter (Q4 FY25).The company’s operating revenue f…