Skip to content
Search

Latest Stories

India Appoints Piyush Goyal As Interim Finance Minister

INDIA'S minister for railways and coal has today (23) been named the country's interim finance minister.

Piyush Goyal will take on the additional portfolio as finance minister Arun Jaitley is in the US for medical treatment.


India's interim budget is due to be presented next week, ahead of a scheduled general election in May.

However, Jaitley will not present the budget.

The Indian government has not commented on Jaitely's medical condition.

“The president of India, as advised by the prime minister, hereby directed that during the period of indisposition of Arun Jaitley, minister; the portfolios of minister of finance and minister of corporate affairs held by him, be temporarily assigned to Piyush Goyal, in addition to his existing portfolios,” said a statement from the Indian president’s secretariat today.

“Further, as advised by the prime minister, Arun Jaitley be designated as minister without portfolio during the period of his indisposition or till such time he is able to resume his work as minister of finance and minister of corporate affairs,” the release added.

More For You

JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less