Business

Maharashtra Hospitality Sector Seeks License Fee Relief Amid LPG Shortage Crisis HRAWI Urges Extension and Staggered Payment Option for Annual License Fee New Delhi, March 18: A leading industry body representing hotel and restaurant owners has approached the Maharashtra government, seeking urgent relief in the payment of annual license fees as a severe shortage of commercial LPG continues to disrupt operations across the hospitality sector.The Hotel and Restaurant Association (Western India) (HRAWI) has submitted a formal representation to Deputy Chief Minister and State Excise Minister Sunetra Ajit Pawar, requesting an extension of the license fee payment deadline from March 31 to April 30.Industry Pushes for Quarterly Payment...

Rupee Slips to 92.43 Against US Dollar in Early Trade Amid FII Outflows and Stronger Dollar Forex Market Update: Rupee Edges Lower in Opening Session Mumbai, March 18: The Indian rupee weakened marginally by 3 paise to 92.43 against the US dollar in early trade on Wednesday, pressured by sustained foreign institutional investor outflows and a firmer US dollar amid the ongoing Middle East conflict.At the interbank foreign exchange market, the rupee opened at 92.42 and slipped slightly to 92.43, compared to its previous closing level.Recent Trend: Rupee Near Record Lows The domestic currency has been under pressure in recent sessions. On Tuesday, the rupee touched an intraday low of 92.47 before settling at a record closing low of...

Stock Market Today: Sensex and Nifty Extend Gains for Third Straight Session Amid Recovery Benchmark Indices Open Higher After Recent Correction Mumbai, March 18: Equity benchmark indices opened on a positive note on Wednesday, extending their gains for the third consecutive session as markets continued to recover from last week’s sharp correction triggered by the West Asia conflict.The BSE Sensex began the session at 76,367, rising 296 points or 0.39 percent. The NSE Nifty also opened higher at 23,632, up nearly 50 points or 0.22 percent.Broader Markets Show Strength Led by Smallcaps The broader market witnessed notable buying interest, particularly in smallcap stocks. The Nifty Smallcap 50 climbed 0.51 percent, while the Nifty...

South Korea Auto Exports Drop 20.8% in February Amid Fewer Working Days Export Decline Linked to Lunar New Year Slowdown Seoul, March 18: South Korea’s automobile exports declined sharply by 20.8 percent year-on-year in February, primarily due to a reduced number of working days during the Lunar New Year holiday, according to data released by the Ministry of Trade, Industry and Resources on Wednesday.The total value of vehicle exports stood at $4.8 billion for the month, reflecting the impact of holiday-related production and shipment disruptions.Mixed Performance Across Vehicle Segments Despite the overall decline, hybrid vehicle exports recorded strong growth. Shipments of hybrid cars surged 23.5 percent year-on-year to $1.21...

India, EU Strengthen EV Charging Collaboration to Boost Sustainable Mobility India-EU Workshop Focuses on Interoperable and Future-Ready EV Ecosystems New Delhi, March 18: Policymakers and industry stakeholders from India and the European Union are intensifying collaboration in research, innovation, standards, and testing to accelerate the transition toward sustainable and connected mobility systems, according to an official statement.The growing partnership is being driven under the India-EU Trade and Technology Council (TTC), with a strong emphasis on green and clean energy technologies. These efforts are contributing to the development of sustainable mobility solutions, resilient innovation ecosystems, and future-ready industrial...

Government Mandates 60% Free Seat Allocation on Flights to Boost Passenger Convenience New DGCA Guidelines Aim to Improve Transparency and Fair Access in Air Travel New Delhi, March 18: In a major step to enhance passenger convenience and streamline airline practices, the Ministry of Civil Aviation on Wednesday directed that at least 60 per cent of seats on any flight must be allocated free of charge. The move is aimed at ensuring fair access to seating while improving the overall ease of air travel.The directive, issued through the Directorate General of Civil Aviation, focuses on strengthening transparency, passenger rights, and uniformity across airlines operating in India.Passengers on Same PNR to Be Seated Together As part of...

430 Ceramic Factories Halt Operations Amid Fuel Shortage Morbi, March 18 In a significant disruption to India’s ceramic manufacturing sector, around 430 ceramic units in Morbi, Gujarat, have decided to suspend operations for at least three weeks due to a severe gas supply shortage triggered by the ongoing conflict in West Asia.Gas Crisis Forces Widespread Factory Closures Morbi, widely known as the “ceramic city” and the world’s second-largest hub for ceramic tile production, has been facing mounting operational challenges. Out of approximately 670 factories in the region, nearly 450 units have already ceased operations, with several others nearing shutdown as fuel availability continues to tighten.The ceramic manufacturing process...