Mint Mumbai - November 28, 2023
Mint Mumbai - November 28, 2023
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In this issue
November 28, 2023
LIC glare on firms bringing gen-next to board, top roles
Founders of public companies naming their scions as senior executives or board members may find the going harder as the passing of baton comes under greater scrutiny from the world's biggest public money managers, including Life Insurance Corp. of India (LIC), the country's largest domestic institutional investor.
2 mins
Irdai questions Care brass on Esops issue
Religare unit asked to reply in a week on \"excessive\" grant
5 mins
Penalties rise as RBI turns up scrutiny of banks, NBFCs
The Reserve Bank of India (RBI) slapped penalties totalling ₹71.4 crore in 56 cases in the year so far as it enhanced scrutiny of banks, non-banks and other regulated entities, data compiled by Mint showed. In comparison, the banking regulator levied fines of ₹26 crore across 34 cases in all of last year.
2 mins
S&P Global raises FY24 GDP growth, cuts FY25 estimate
Robust domestic momentum has offset headwinds from high food inflation and weak exports
2 mins
Another jump likely in budget for roads
The government proposes to remain focussed on rapid infrastructure growth in the next financial year and may even allow another big increase of 20-25% in capex allocations for the roads ministry in order to speed up road construction, two persons aware of the plans said.
2 mins
Dark pattern guidelines to prescribe penalty for erring digital firms
The government is set to specify penalties for e-commerce companies misleading consumers into taking unintended decisions, as it tightens regulations on unfair trade practices by digital businesses.
2 mins
Rupee fluctuation a problem, says FM
The government is keeping a continuous watch on the exchange rate, particularly after the slide of the rupee, finance minister Nirmala Sitharaman said on Monday, describing exchange rate fluctuations and high-interest rates as downsides for the Indian economy.
1 min
Alibaba's quantum computing lab shut
Alibaba Group Holding Ltd has shuttered its quantum computing research lab, a sign that the Chinese e-commerce and cloud operator is considering more cutbacks to bulk up the bottom line.
1 min
True North credit fund raises ₹1,000 crore
The fund is raising capital from Indian UHNIs and family offices
2 mins
FMCG firms may be running out of steam
Softening raw material prices boosted the profit margins of Indian listed fast-moving consumer goods companies in the September quarter (Q2FY24), as was expected.
2 mins
FPI debt inflows at 26-month high in Nov on Fed rate pause
FPI net inflows into Indian bonds in November have hit the highest level in 26 months, thanks to higher allocations by foreign investors to emerging markets like India in anticipation of US interest rates having peaked and buying by non-index funds ahead of the country’s inclusion in JP Morgan’s Global Bond Index - Emerging Markets next year. Analysts expect the flows to remain strong, though volatile.
2 mins
Over $10bn inflow into emerging mkt ETFs
A $1.7 trillion equity rally and the best bond gains in a year in emerging markets got a vote of confidence from investors in US exchange-traded funds who brought in fresh deposits last week, taking 2023 inflows above $10 billion.
1 min
Oberoi Realty moves in the right direction to impress investors
Oberoi Realty Ltd has grabbed investors' attention of late, and for all the right reasons. Shares of the Mumbai-based real estate developer climbed to a new 52-week high of ₹1,415 on 21 November in response to two crucial developments.
2 mins
Sembcorp to buy wind assets in India, China
Sembcorp Industries on Monday announced that it has signed two separate agreements to acquire 428 MW of wind power assets in China and India for 200 million Singaporean dollar (about ₹1,247 crore).
1 min
Maruti sets stage for price hikes in 2024
India’s largest carmaker Maruti Suzuki India Ltd on Monday said it will raise prices beginning 1 January, setting the stage for similar hikes by rival automakers. The company attributed the move to higher commodity costs and steep inflation, but did not specify the quantum of price hike for specific models.
2 mins
Byju's penalized over IAS ads, set to appeal
Compliance report sought in 15 days; Byju's has to appeal before NCDRC
2 mins
Hoteliers pitch for delinking dining GST from room tariffs
GST discrepancy puts hotel restaurants at a disadvantage compared with standalone eateries
3 mins
World Cup hits viewership of non-sports genres, advertising on TV, OTT
Airing of prime cricket property—the World Cup, preceded by the Asia Cup—has resulted in a dent in viewership and advertising for non-sports channels on television as well as streaming platforms. And the dent is sizeable.
2 mins
LIC keen to keep part of its stake in IDBI Bank
State-owned Life Insurance Corporation (LIC), promoter er of IDBI Bank, has said it plans to retain a part of its stake in the lender to harness the benefits of the bancassurance.
1 min
Gen AI unlikely to bail out IT services firms: experts
Its contribution to overall revenue of top IT services firms is likely to be less than 1%
2 mins
'Around 200 planes grounded may stay in India by March'
The Indian aviation industry may see 200 grounded aircraft by the end of this financial year, aviation consultancy firm Capa India has said in its mid-year outlook.
1 min
Biden plans to skip UN climate talks in Dubai
COP28 begins on Thursday; White House says sending climate team
2 mins
China warns of coming surge after pneumonia in kids
China said a surge in mycoplasma-caused pneumonia in children shows signs of ebbing, but warned that other respiratory illnesses are likely to hit the broader population hard during the mainland's first winter after covid restrictions.
1 min
'Tech to improve Delhi airport ops'
Delhi airport will be using predictive analytics based on artificial intelligence as well as camera-based solutions to improve operations at the airport, which has seen a rise in passenger traffic, according to a top official.
1 min
Bangladesh arrests thousands in 'violent' crackdown: HRW
Bangladesh has launched a sweeping and violent crackdown on opposition parties to \"eliminate competition\" ahead of general elections, including arresting almost 10,000 activists, Human Rights Watch said on Monday.
1 min
Myanmar rebels claim new territory
Ethnic minority rebels fighting Myanmar's military junta said they had seized a key trading post on the northern frontier, across the border from where China's military was conducting exercises to improve combat readiness and emergency response.
1 min
Rescuers to use manual drift process for trapped workers
Auger machine debris removed; manual drilling of the passage to start soon
1 min
TALE OF TWO STATES: WHAT NUMBERS TELL US
10 years on, the bifurcation has worked well for Telangana, but Andhra Pradesh finds itself in a financial quagmire
9 mins
Get rewarded for UPI payments with virtual Rupay credit cards
Consumers can ask their banks to issue a virtual Rupay credit card that can be linked to their UPI accounts
4 mins
How to get heavy discounts on EMI purchases sans the EMIS
These days, e-commerce firms offer hefty discounts on consumer products if you opt for equated monthly instalments (EMIs) on credit card purchases.
2 mins
Farm to fork: Conscious eating can cut emissions
Aiming for net zero, the UN's FAO wants people in the rich world to eat less meat. We need to discuss this sticky aspect of climate change without any guilt or stigma slapped onto diets
2 mins
Scientists should admit their covid errors for their own cred
American trust in them has dropped but they could earn it back
3 mins
Mint Mumbai Newspaper Description:
Publisher: HT Digital Streams Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The business newspaper “Mint” published by one of the leading media houses of India, Hindustan Times, in association with Wall Street Journal. It aims to connect India to the world and the world to India in terms of business, economy, regulation and policies...
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