Business Standard - October 01, 2024

In this issue

October 01, 2024

Sebi board okays new asset class, MF Lite rules

Doesn't discuss charges against Buch, takes up staff protest

1 min

Mkts log biggest fall in 2 mths

Fears of flow rotations from India to China, West Asia tensions trigger selloff

2 mins

"May retaliate if Asean non-trade barriers persist'

Goyal says e-commerce policy likely by FY25-end

2 mins

Care shareholders approve Saluja's reappointment

The shareholders of Care Health Insurance, an unlisted subsidiary of Religare Enterprises, on Monday cleared the reappointment of Rashmi Saluja as a director of the company with a comfortable majority.

1 min

Tata to make wheeled armoured vehicles in Morocco

Tata Advanced Systems Limited (TASL) on Monday announced a strategic agreement with Morocco's Royal Armed Forces for locally assembling wheeled armoured platforms (WhaP 8x8) in its defence manufacturing unit in Casablanca, Morocco.

2 mins

‘Apple hopes you buy a phone every two or three years’

DON NORMAN, known as the father of user experience (UX) design and a former vice-president of advanced technology at Apple, tells Veenu Sandhu over a conversation in New Delhi why built-in obsolescence in Apple products is a concern and how the Indian jugaad can be a powerful solution when paired with expert guidance. The 88-year-old designer and author of books like The Design of Everyday Things, Emotional Design, and Design for a Better World was in India as an advisor to BITS Design School, Mumbai, for a three-city tour. Edited excerpts:

3 mins

STPI shifts focus to tech startups, GCCs

10 parks in Tier-ll, -lll cities to be operational soon

1 min

Fire at Tata's plant unlikely to affect supplies for 3 months

Tata Electronics has suspended production of iPhone 15 and iPhone 16 cases following a fire, though supplies will not be impacted as enough stocks are available for next three months, sources aware of the development said on Monday.

1 min

Bajaj Auto leads EV sales in September

Ola remains biggest player in e2W space

1 min

Merger promises 'huge' digital upgrade for Vistara, says A-I

There is a need to upgrade Vistara's digital experience, and its employees and customers are in for a \"huge\" digital upgrade with the merger into Air India (A-I), said A-I's Chief Digital and Technology Officer Satya Ramaswamy on Friday.

1 min

Looking at a better yr: McLeod Russel CMD

Amid a clutch of insolvency petitions, Aditya Khaitan, chairman and managing director, McLeod Russel India, expressed hope that the banks will come around and there will be resolution to the debt issue.

1 min

BharatPe settles dispute with Ashneer Grover

BharatPe and its former co-founder Ashneer Grover (pictured) have settled their longstanding legal dispute, days after the Delhi Police's Economic Offences Wing (EOW) arrested Grover's brother-in-law in a case of misappropriation of funds at the fintech firm.

1 min

RBI directs gold loan providers to review policies, practices

The Reserve Bank of India (RBI) on Monday directed banks and non-banking financial companies (NBFCs) offering gold loans to thoroughly review their policies, processes, and practices to identify any gaps.

1 min

Services, retail credit growth moderate in Aug on decline in credit to NBFCs

The growth in bank credit to the services sector moderated to 15.6 per cent year-on-year (Y-o-Y) in August 2024, down from 21 per cent a year ago, largely due to a considerable decline in credit to non-banking financial companies (NBFCs).

1 min

Manufacturing job creation up in FY23: NSO

Sector GVA also rose 7.3% Y-o-Y to ₹22 trillion

1 min

Govt eyes 1mn sea cruise passengers

The central government on Monday launched the five-year Cruise Bharat Mission, aiming to boost cruise tourism in India to 1 million passengers and create 400,000 jobs by 2029.

1 min

Core sector contracts 1.8% in a first in 42 mths

For the first time in 42 months, the output of India's eight key infrastructure sectors saw a 1.8 per cent year-on-year (Y-o-Y) contraction in August, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday showed.

1 min

Fiscal deficit at 27% of BE FY25

The Centre's fiscal deficit for the first five months of the current financial year (April-August) reached 27 per cent of the Budget Estimate (BE), amounting to ₹4.35 trillion, according to the latest data from the Controller General of Accounts (CGA).

1 min

Rao's legacy at stake in south Haryana

BJP has dominated the politically crucial region since 2014 but the going appears tough this time

3 mins

There's nowhere Israel can't reach, Netanyahu warns Iran

Prepared for long fight: Hezbollah acting leader; 3 Palestinian militants killed in Beirut

2 mins

SoftBank to invest $500 mn in OpenAI at $150 bn valuation

SoftBank Group's Vision Fund is planning to invest $500 million in OpenAI as part of a larger funding round, the Information reported on Monday, citing a person familiar with the deal.

1 min

Legacy steelmaking ends at Tata's Port Talbot plant

The UK's biggest steelworks ceased production on Monday after more than 100 years amid transition towards greener steelmaking. Blast Furnace 4 - the final furnace operating at Tata Steel's plant in Port Talbot, South Wales - shut down fully at about 5pm (local time), with the last steel made late on Monday evening.

1 min

More stimulus needed: China factory, service sectors skid

PBOC moves to cut mortgage rates to revive housing market

1 min

Chinese tourists look to affordable options for Golden Week holiday

Chinese tourists are expected to take longer trips than last year during the Golden Week holiday that kicks off on Tuesday, but that will not necessarily lead to a bump in spending, travel industry experts said.

1 min

Why Stellantis, owner of Jeep, is struggling

United Automobile Workers locals are expected to vote in the coming days to authorize strikes against several Stellantis factories, protesting what they say are broken promises by the automaker.

1 min

Above average rain

Better monsoon bodes well for the economy

2 mins

The economic cost of substandard drugs

Last week, two pieces of news were widely reported by most Indian media outlets.

3 mins

MPC: Has it delivered?

Since its inception, the RBI's monetary policy committee has confronted significant external challenges in managing inflation in India

4 mins

A war without end

Escalation in West Asia serves no country's interests

2 mins

Afcons Infra likely to opt for ₹4,000 cr pre-IPO placement

Afcons Infrastructure, part of Shapoorji Pallonji (SP) Group, plans to conduct a pre-listing sale of ₹4,000 crore, according to sources.

2 mins

Chinese stocks enter bull mkt with biggest surge since 2008

Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.

1 min

Sebi may maintain status quo on largecap stock pool expansion

20% smallcap and midcap investment leeway to keep largecap expansion in abeyance

2 mins

Rajasthan signs ₹12.5 trn MoUs ahead of investment meet

Investment agreements (MoUs) worth ₹12.5 trillion have been signed during Mumbai and Delhi roadshows in the run-up to the \"Rising Rajasthan\" global investment summit to be held in Jaipur from December 9-11, Rajasthan Chief Minister Bhajan Lal Sharma said on Monday.

1 min

Traders must classify imports of lab chemicals under appropriate heads

We refer to Para 5.15(c) of HBP 2023, which was amended by the recent Public Notice no.15 dated 25th July 2024. Will this amendment apply to EPCG authorisations issued in the previous policy periods also?

2 mins

SURRENDER VALUE NORMS KICK IN TODAY Life insurers begin rolling out revised bestsellers

With the new surrender value norms effective from Tuesday, most life insurance companies are immediately rolling out revised versions of their bestselling, non-participating products.

2 mins

THE NECESSARY AND THE BEAUTIFUL

Emami has built itself through acquisitions. But there is more coming, with a startup turn

4 mins

Make in India @ 10: A vision for global manufacturing leadership

On this momentous occasion of 10 years of the Make in India, it's time to reflect on the transformational journey India has undertaken towards the mission of making itself a global manufacturing hub.

2 mins

Keep gods out of politics: SC

Says no proof yet, slams CM Naidu

1 min

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