Financial Express Ahmedabad - December 18, 2024Add to Favorites

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December 18, 2024

Indian firms turn to euro, yen swaps to trim borrowing cost

INDIAN FIRMS ARE opting for cross-currency swaps to convert part of their debt into the euro or the Japanese yen in order to trim borrowing costs, said bankers.

Indian firms turn to euro, yen swaps to trim borrowing cost

2 mins

Q2 slowdown a blip, growth to pick up, says FM

THE ECONOMIC GROWTH slowdown in the second quarter of FY25 was a blip due to a slower pace of spending, but the coming quarters will likely see healthy growth, finance minister Nirmala Sitharaman told the Lok Sabha on Tuesday in her reply to the first supplementary demand for grants, reports fe Bureau.

Q2 slowdown a blip, growth to pick up, says FM

1 min

EPFO weighs higher equity investments

● Labour ministry panel to look at ways to raise exposure

EPFO weighs higher equity investments

2 mins

Markets slump over 1%

● Investors' wealth down ₹4.92 lakh cr

Markets slump over 1%

2 mins

CBDT issues fresh FAQs on tax dispute resolution

THE CENTRAL BOARD of Direct Taxes (CBDT) on Tuesday published a fresh set of FAQs on the Direct Tax Vivad se Vishwas scheme in response to additional queries received by it.

1 min

No more duty-free import of items for solar power: CBIC

TO PUSH DOMESTIC manufacturing, the government has withdrawn a scheme which permitted duty-free import of goods for solar power generation.

1 min

One nation, one poll Bills introduced in Lok Sabha

● 269 vote for and 198 against their introduction

3 mins

Lawrence Bishnoi's jail interview: Punjab DSP to face the axe

The Punjab government Monday informed the Punjab and Haryana High Court that it has initiated the process to dismiss a DSP, identified as a conspirator in aiding and abetting a 2023 TV interview of gangster Lawrence Bishnoi from a Kharar jail.

1 min

Ahead of talks with Doval, China ready to enhance mutual trust

As National Security Advisor Ajit Doval reached Beijing for talks on Wednesday between the Special Representatives of the two countries, China said Tuesday it is ready to work with India to \"deliver on important common understandings reached between our two leaders\" and \"enhance mutual trust and mutual confidence\".

2 mins

Trai's definition identifies their traffic as international

HIGHER TARIFFS

2 mins

Ola tests 10-min food delivery service in Bengaluru via ONDC

OLA CONSUMER HAS begun testing 10-minute food delivery services in select areas of Bengaluru through the Open Network for Digital Commerce (ONDC) network.

1 min

Blackstone's Mphasis deal rescues PE firms

Venture capitalists double earnings to $4.06 billion

2 mins

Blackstone expects 5X growth in India data centre capacity

GLOBAL FUND HOUSE Blackstone expects at least fivefold growth in its data centre capacity in India in the coming years, fuelled by the adoption of cloud, 5G, and data protection in the country.

1 min

Maruti first carmaker to produce 2 mn units in a year

The achievement was attributed to retail demand recovery and effective inventory management

1 min

More Indians looking to fly biz class this holiday season

The number of Indians eyeing to fly business class has seen a sharp uptick this holiday season compared to last year. While the trend is more pronounced in international travel, travel agents and online platforms suggest that it is also emerging on many domestic routes.

More Indians looking to fly biz class this holiday season

2 mins

Sanghi & Penna to merge with Ambuja

Ambuja Cements will merge the acquired companies Saurashtra-based Sanghi Industries and Andhra Pradesh-based Penna Cement Industries with itself.

1 min

Cult.fit's revenue rises in FY24; loss remains flat

FITNESS-TECH PLATFORM CULT.FIT recorded a 33.6% increase in operating revenue, reaching ₹927 crore in FY24 compared to ₹694 crore in the previous fiscal year.

1 min

ITC to demerge hotel business on January 1

CIGARETTES-TO-FOODS CONGLOMERATE ITC has finalised January 1, 2025, as the effective date for the demerger of its hotel business, following receiving an order from the National Company Law Tribunal (NCLT), the company said on Tuesday.

1 min

Daikin India forms JV with Taiwan firm

DAIKIN INDIA, THE Indian subsidiary of Japan's Daikin Industries, on Tuesday announced that it has formed a joint venture with Taiwanese AC compressor maker Rechi Precision to manufacture, design and sale of rotary compressors.

1 min

Airline gets DGCA show-cause notice

AVIATION REGULATOR

1 min

Automotive Axles shareholders vote against RPT with Meritor

THE MINORITY SHAREHOLDERS of Automotive Axles, a Kalyani Group company, have rejected the resolution to approve material-related party transactions with Meritor HVS (India) with around 79.47% of the votes against the move and 20.53% in favour.

1 min

Safety is priority, says Akasa Air CEO

ASSERTING THAT AKASA Air is an employee-centric organisation, its CEO Vinay Dube has said the airline always works on improving its very high safety standards, amid some pilots flagging concerns about alleged training and safety issues.

1 min

Sebi likely to relax AIF norms

Participants asked to adopt accredited investors concept

2 mins

Mkts regulator introduces new asset class for high-risk users

MARKETS REGULATOR SEBI has notified norms for introducing a new asset class -- Specialised Investment Fund -- for high-risk profile investors along with liberalised mutual funds lite (MF Lite) framework for passively managed schemes.

1 min

RBI lifts curbs on two Edelweiss Group entities

THE RESERVE BANK of India (RBI) on Tuesday lifted the restrictions imposed on Edelweiss Asset Reconstruction Company (EARCL) and ECL Finance, effective immediately, after the companies engaged with the regulator on remedial measures.

1 min

Sebi names auditor to examine TARC's finances during FY21-23

CAPITAL MARKET REGULATOR Sebi has appointed a forensic auditor to look into financial statements of New Delhi-based real estate company TARC for FY21-23, citing a disclosure by the company which may have been 'detrimental to the interest of investors'.

1 min

Platform proposed for tracking unclaimed mutual fund folios

The Securities and Exchange Board of India (Sebi) on Tuesday proposed a service platform called MITRA (Mutual Fund Investment Tracing and Retrieval Assistant) for investors to trace inactive and unclaimed mutual fund (MF) folios.

1 min

Indian firms raise $16 billion via QIP

ROBUST RESPONSE

1 min

FPIs instruments with derivatives as underlying assets barred

The Securities and Exchange Board of India (Sebi) has barred foreign portfolio investors (FPIs) from issuing offshore derivative instruments (ODIs) with derivatives as underlying assets or using derivatives to hedge their ODIs in India in a bid to curb regulatory arbitrage.

1 min

Transforming rural health systems

ADDRESSING THE RURAL-URBAN HEALTHCARE DIVIDE REQUIRES A SYSTEMS-FOCUSED APPROACH

4 mins

The upkeep of urban infrastructure

Creative financial solutions, such as charging fees for high-emission vehicles, can help alleviate toll burdens for city natives while keeping urban infrastructure viable

3 mins

Porsche billionaires are in a tight spot, again

PORSCHE AUTOMOBIL HOLDING SE sure knows how to do drama. Last week, the listed holding of the Porsche and Piech families warned it may have to book up to €22 billion ($23 billion) of impairments amid a decline in the market value of its 31.9% stake in Volkswagen AG and 12.5% economic interest in the Porsche AG automaker.

Porsche billionaires are in a tight spot, again

3 mins

Wealth tax: A bad idea

More revenue is needed for health and education, but Piketty's recommendation is problematic

2 mins

Line of control

When should a brand stop trying to jolt the audience?

1 min

China plans record budget deficit of 4% of GDP in 2025

New plan compares with an initial target of 3% of 2024 GDP

1 min

Lanka bondholders sign off on $12.55-bn debt overhaul

SRI LANKA'S BONDHOLDERS SIGNED off on the government's proposal to restructure its $12.55 billion of international bonds, a key step in finalising the island nation's debt overhaul.

1 min

Ukraine kills Russian chemical weapons chief in Moscow blast

Atop Russian general accused by Ukraine of being responsible for the use of chemical weapons against Ukrainian troops was assassinated in Moscow by Ukraine's SBU intelligence service on Tuesday morning in the most high-profile killing of its kind.

1 min

Wang, Trump raise prospects of US-China working together

CHINA'S TOP DIPLOMAT said on Tuesday he hoped the incoming Trump administration would \"make the right choice\" and work with Beijing, hours after Donald Trump told reporters the Covid-19 pandemic had strained his relationship with \"friend\" Xi Jinping.

2 mins

Markets slump over 1%

ALL MAJOR ASIAN markets ended in the red on Tuesday, a day ahead of the US Federal Reserve's meeting outcome.

1 min

TikTok turns to top US court in last-ditch attempt to avert ban

TikTok made a last-ditch effort on Monday to continue operating in the United States, asking the Supreme Court to temporarily block a law intended to force ByteDance, its China-based parent company, to divest the short-video app by Jan. 19 or face a ban.

1 min

Trudeau govt adrift after FM quits, Trump tariffs loom

The abrupt resignation of Canada's finance minister leaves the government adrift less than a month before the inauguration of a new US administration that could impose crippling sanctions on Canadian exports.

1 min

Broadcom's 'Nvidia moment' has arrived. Now it needs to deliver

BROADCOM'S MASSIVE RALLY after last week's earnings report is reminiscent of when Nvidia Corp. shares first started to take off back in 2023.

2 mins

SME IPOs fetch rich returns in Dec

THE SME IPO market continues to see heightened interest and is delivering multibagger returns despite being under the lens of the markets regulator.

1 min

Indian firms use euro, yen swaps

MOREOVER, EXPECTATIONS of dollar strengthening further have also prompted Indian firms to opt for cross-currency pairs other than USD-INR.

1 min

KYC masking to go live on Jan 20

IN A MOVE that provides relief to financial institutions, the Central KYC Records Registry has extended the deadline for masking Know Your Customer (KYC) documents to January 20 next year.

1 min

EPFO weighs higher equity investments

IN FY23, THE interest rate was fixed at 8.15% and 8.10% in FY22.

2 mins

Not even 2% work-linked higher education courses yet: Report

EDUCATION-INDUSTRY MISMATCH

1 min

IIT-Madras to offer fine arts, culture courses

In a first for Indian Institutes of Technology (IITs), IIT Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.

1 min

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