South Korea's HD Hyundai Heavy wins US Navy MRO project

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Seoul, Aug 6 (IANS) HD Hyundai Heavy Industries, South Korea’s leading shipbuilder, said on Wednesday it has secured a maintenance, repair and overhaul (MRO) project for a U.S. Navy cargo ship.The company will carry out the MRO work on the USNS Alan Shepard (T-AKE-3), a 41,000-ton Lewis and Clark-class dry cargo vessel, at HD Hyundai Mipo Dockyard Co.’s shipyard in Ulsan, some 300 kilometers southeast of Seoul, the company said in a press release.The project is slated for completion and delivery…

SK Telecom's Q2 net income plunges after massive data breach

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Seoul, Aug 6 (IANS) SK Telecom, South Korea’s leading wireless service provider, said on Wednesday its second-quarter net profit plunged 76.2 per cent from a year earlier due to the fallout from a massive data breach that affected its entire 25 million user base.Net profit for the three months ended in June fell to 83.2 billion won ($60 million) from 350.2 billion won in the same period last year, the company said in a regulatory filing.The earnings fell short of market expectations. The average…

Nifty, Sensex open flat as investors eye RBI policy decision

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Mumbai, Aug 6 (IANS) The Indian equity benchmarks opened flat on Wednesday, ahead of the Reserve Bank of India (RBI) Monetary Policy Committee’s decision. Sensex gained 64 points or 0.08 per cent at 80,774 while Nifty edged up 16 points or 0.07 per cent to 24,665.Broad cap indices saw higher selling pressure. The Nifty midcap 100 index was down 0.54 per cent and Nifty smallcap 100 index slipped 0.64 per cent.”Today’s monetary policy decision is unlikely to influence the market significantly. T…

Reports on private entities getting permission to mine atomic minerals incorrect: Govt

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New Delhi, Aug 6 (IANS) The government has denied reports suggesting that it has permitted private sector participation in the exploration and mining of atomic minerals such as uranium and thorium from the country’s offshore regions by notifying the Offshore Areas Atomic Minerals Rules, 2025.The Ministry of Mines called such media reports “misleading and factually incorrect”.The Offshore Areas Atomic Minerals Operating Rights Rules, 2025 provide the procedure for the grant of operating rig…

RBI has set up 2,421 centres for financial literacy to cover rural areas: Minister

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New Delhi, Aug 5 (IANS) The National Bank for Agriculture and Rural Development (NABARD) and the Reserve Bank of India (RBI) have undertaken various interventions to promote financial literacy and awareness among the rural population, including microfinance borrowers, the Parliament was informed on Tuesday.The Centre for Financial Literacy (CFL) project has been initiated by the RBI since 2017 with an objective to adopt community-led, innovative, and participatory approaches to financial literac…

Anil Ambani leaves ED headquarters after 9-hour grilling, to be called again (Lead)

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New Delhi, Aug 5 (IANS) After a gruelling around nine-hour interrogation regarding an alleged Rs 17,000-crore loan fraud case, Reliance Group Chairman Anil Ambani finally left the Enforcement Directorate (ED) headquarters here on Tuesday.After the first round, the regulator is set to call Anil Ambani again for questioning in a couple of days, according to sources.Reliance Group Chairman has reportedly sought 7-10 days from the probe agency to submit documents related to the alleged scam.The 66-y…

Dalmia Cement gets CCI nod to bid for Jaiprakash Associates

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New Delhi, Aug 5 (IANS): The Competition Commission of India on Tuesday approved the proposal of Dalmia Cement (Bharat) Limited for the acquisition of Jaiprakash Associates Limited (JAL).The proposed combination envisages 100 per cent acquisition of JAL by Dalmia Cement (Bharat) Limited pursuant to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC), according to a CCI statement.The proposed acquirer is a wholly-owned subsidiary of Dalmia Bharat …

Britannia’s Q1 net profit falls nearly 7 pc sequentially, margins hit multi-quarter low

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Mumbai, Aug 5 (IANS) Britannia Industries on Tuesday reported a drop in its net profit for the June quarter (Q1 FY26), as the biscuit maker’s consolidated net profit stood at Rs 520 crore, down 6.98 per cent quarter-on-quarter (QoQ) from Rs 559.13 crore in the previous March quarter (Q4 FY25).Though, it was slightly higher than Rs 504 crore recorded in the same period previous year (Q1 FY25), according to its stock exchange filing.Revenue from operations rose 3.64 per cent sequentially to Rs 4…

Defence Ministry gives nod for military hardware worth Rs 67,000 crore to beef up armed forces

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New Delhi, Aug 5 (IANS) The Defence Acquisition Council, under the chairmanship of Defence Minister Rajnath Singh, on Tuesday approved various proposals for buying military hardware at a total cost of about Rs 67,000 crore.Acceptance of Necessity (AoN) was accorded for the procurement of Thermal Imager-based Driver Night Sight for the Indian Army’s BMP fleet. This will enhance the night driving capability of BMPs and provide higher mobility and operational advantage to the Mechanised Infantry,…

Myth vs reality: India is not a 'tariff king' at all as labelled by Trump

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New Delhi, Aug 5 (ANS) While US President Donald Trump has labelled India as a “tariff king”, the claim doesn’t hold up against actual trade data and global comparisons with other nations.While India’s simple average tariff is approximately 15.98 per cent, the trade-weighted average, which better reflects the duties actually applied on traded goods, is only 4.6 per cent, as per World Bank data, much lower than what is commonly believed.Trade-weighted average tariffs measure the actual duties pai…