Financial Express Chennai - December 20, 2024
Financial Express Chennai - December 20, 2024
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In this issue
December 20, 2024
'EV market to touch ₹20L cr by 2030'
Has potential to create 50 million jobs, says Nitin Gadkari
2 mins
Adani did not remit savings from India tax break it got: Bangla govt
BANGLADESH'S INTERIM GOVERNMENT has accused Adani Power of breaching a multi-billion-dollar energy supply agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters.
1 min
Road assets in InvITs to soar 70% in FY26
ASSETS UNDER MANAGEMENT (AUM) of infrastructure investment trusts (InvITs) in the road sector are poised to surge to ₹3.2 lakh crore by the end of 2025-26 from ₹1.9 lakh crore in September this year, according to a report by Crisil Ratings.
1 min
Curb subsidies to build critical infrastructure, RBI tells states
Says too many central schemes undermine cooperative federalism
2 mins
Medical devices sector to grow to $30 bn by 2030: Minister
More health insurance companies would start offering insurance cover on outpatient department (OPD) expenses, said Kiran Gopal Vaska, joint secretary and mission director (Ayushman Bharat Digital Mission) at the National Health Authority (NHA).
1 min
Highway infra trust to raise ₹15,000 cr; halts bond sale plan
The National Highways Infrastructure Trust (NHIT), promoted by the National Highways Authority of India (NHAI), will raise around ₹15,000 crore through a mix of debt and equity for acquisition of the next round of assets in the next two months, a senior official said.
1 min
Niti suggests dormitory beds for factory workers at ₹2,000 a month
WITH INDIA REQUIRING 25 million beds for industrial workers in the next decade, a Niti Aayog report on Thursday suggested lower property tax, power and water tariffs to provide dormitory beds at an affordable cost of ₹2,000/month under the public-private partnership (PPP) model near factory sites.
1 min
No sugar exports for now: Official
THE GOVERNMENT IS not in favour of allowing sugar exports at present despite a projection of surplus of around one million tonne in the 2024-25 sugar season (October-September), Sanjeev Chopra, secretary, the department of food and public distribution, said on Thursday.
1 min
UK PM hosts Indian business leaders to boost investment
UK PRIME MINISTER Keir Starmer hosted a delegation of 13 Indian companies at 10 Downing Street in London, with the British government describing it as a \"curated visit\" to enhance bilateral partnership and boost investments.
1 min
No sugar exports for now: Official
THE GOVERNMENT IS not in favour of allowing sugar exports at present despite a projection of surplus of around one million tonne in the 2024-25 sugar season (October-September), Sanjeev Chopra, secretary, the department of food and public distribution, said on Thursday.
1 min
Startups fire fewer employees, ramp up hiring in 2024
WITH FUNDING SHOWING signs of recovery, startups seem to be bouncing back. Layoffs by startups have dropped sharply in 2024 and hiring is also on the rise, data from layoffs.fyi showed.
1 min
IPO-bound Rebel Foods raises funds from KKR
IPO-BOUND CLOUD kitchen firm Rebel Foods said on Thursday that global investment firm KKR has acquired a stake in the kitchen operator.
1 min
Nestle: Swiss withdrawal of MFN status to not affect ops
NESTLE INDIA HAS clarified that the suspension of the most favoured nation (MFN) clause granted to India by Switzerland will not affect its operations.
1 min
Airtel prepays ₹3,626 cr to DoT
Clears dues for spectrum auction held in 2016
1 min
AI orders 34 trainer aircraft
Homegrown consumer electronics company Micromax has entered into a joint venture with Taiwan-based Phison to design and manufacture storage chips or solid-state drives (SSDs) in the country.
1 min
Kia unveils Syros, aims to raise market share to 20%
KIA INDIA ON Thursday introduced the Syros, a new sub-4-metre SUV, which the company expects will increase its market share in the compact SUV segment from 15% to 20%.
1 min
JSW Infra outlines ₹30K-cr capex plan
Leveraging Navkaro acquisition, says company
1 min
AI orders 34 trainer aircraft
AIR INDIA HAS placed an order for 34 trainer aircraft for its upcoming Flying Training Organisation (FTO) in Amravati, Maharashtra.
1 min
Zetwerk's GMV rises 35% to ₹17,564 cr
CONTRACT MANUFACTURING STARTUP Zetwerk on Thursday said it has achieved a gross merchandise value (GMV) of ₹17,564 crore in FY24, reflecting a 35% growth from the ₹13,050 crore GMV recorded in the previous fiscal.
1 min
Auto Expo: Missing brands to return
INDIA'S PREMIER AUTOMOTIVE event, the Bharat Mobility Global Expo, will begin on January 17 with a record-breaking lineup of brands, including several returning participants.
1 min
Dalal Street joins global sell-off
JOINING THE GLOBAL equity sell-off following the US Federal Reserve's hawkish surprise of fewer rate cuts in 2025, benchmark indices fell 1% on Thursday, marking their fourth consecutive session of decline.
1 min
Re breaches 85 mark
THE RUPEE ENDED at another all-time low of ₹85.08 to a dollar on Thursday, after touching a low of ₹85.09, as the US Federal Reserve's forecast of fewer rate cuts pushed the dollar index to a two-year high.
3 mins
Barclays strategist sees it falling further to 87 by next year end
The rupee ended at another all-time low of ₹85.08 to a dollar on Thursday, after touching a low of ₹85.09, as the US Federal Reserve's forecast of fewer rate cuts pushed the dollar index to a two-year high.
3 mins
Silver lining for Dr Reddy's
Share prices jump over 4% on upgrade by Nomura
1 min
Currencies tumble, few attempt rebound
THE DOLLAR SLIPPED on Thursday, a day after surging to a two-year peak after the Federal Reserve rocked markets by signalling a much slower pace of rate cuts in 2025, while the yen slid after the Bank of Japan (BOJ) stood pat on rates.
1 min
US Congress has two days to avert shutdown after Trump rejects Bill
THE US CONGRESS has two days to avert a partial government shutdown after Republican President-elect Donald Trump rejected a bipartisan deal late on Wednesday and demanded lawmakers also raise the nation's debt ceiling before he takes office next month.
1 min
Bought for billions, selling for peanuts
M&A DEALS SLOWLY PICKING UP
2 mins
Riksbank cuts rate by 25 bps, Brazil cenbank raises outlook
SWEDEN'S RIKSBANK ON Thursday lowered its benchmark interest rate by 25 basis points and signaled its easing campaign is likely to be wrapping up with one cut left to deploy.
1 min
BoJ holds rates too
THE BANK OF Japan kept interest rates unchanged on Thursday and its governor offered few clues on how soon it could push up borrowing costs, sending the yen and bond yields tumbling on fresh doubts over the near-term chances of a rate hike.
1 min
Better late than never
The retail frenzy for SME IPOs and rising cases of frauds forced Sebi's hand
2 mins
Radical Overhaul Of Shipping Laws
India owns just 1,526 ships, with a total gross tonnage capacity of around 13 million. Of these, 487 vessels are engaged in overseas trade
3 mins
'Focus on product differentiation; consumer loyalty will follow'
Beauty and skincare brand Pilgrim, which started its life online, is putting its might behind offline expansion at the moment. In the last year and a half, the contribution of offline to its overall sales has grown from nil to nearly 25%, says co-founder Anurag Kedia. In this interview, he talks to Toshiro Agarwal about the challenges small players face when they start making their way through offline channels. Edited excerpts:
2 mins
Breaking the glass ceiling
An equitable representation of women in Indian media and entertainment remains a distant dream, despite female-led films winning big at the Cannes and Sundance this year. Prime Video's latest O Womaniya! report analysed 169 films and series released in 2023 in nine Indian languages to highlight the disparity.
1 min
Campaign's relatability adds charm to storytelling
Why the campaign rocks:
1 min
Fed's 2025 signal roils D-Street
THE SENSEX HAS lost 3.55%, or 2,915 points, in the last four trading sessions, eroding investment wealth of over ₹10 lakh crore (in three sessions).
1 min
MPs of ruling alliance, Oppn clash, 2 from BJP in hospital
THE WINTER SESSION of Parliament descended into chaos on its penultimate day when MPs of the NDA and the Opposition INDIA bloc, accusing each other of denigrating the name of BR Ambedkar, shoved and jostled with each other at the Makar Dwar, the main entrance to the building, resulting in injuries to two BJP MPs and complaints to police by the BJP and Congress, allegations and counter-allegations and petitions to the Speaker.
1 min
India's job market poised for 9% growth next year
HIRING ACTIVITIES IN 2025 are likely to witness a 9% growth in the country driven by sectors, including IT, retail, telecommunications and banking, financial services, and insurance (BFSI) sectors, a report said on Thursday.
1 min
HDFC Securities sees Nifty rising up to 26,482 in a 'difficult' 2025
HDFC Securities expects 2025 to be a challenging year due to high valuations, but forecasts the Nifty 50 index to potentially reach 26,482 points. The brokerage firm also expressed concerns about the market reaction of younger and retail investors who have only experienced positive returns in recent years.
1 min
Digital marketplace integration catalysing growth of MSME
MICRO, SMALL, AND Medium Enterprises (MSMEs) form the backbone of many economies, contributing significantly to employment, GDP, and inclusive growth. In recent years, the integration of these businesses with digital marketplaces has emerged as a transformative force, unlocking unprecedented opportunities for them.
2 mins
Bollywood's investments in startups decrease sharply to $3.6 mn in 2024
INVESTMENTS BY BOLLYWOOD celebrities in startups came down sharply in the current calendar year to $3.6 million against $28.5 million last year, data shared by Tracxn showed.
1 min
Apple concedes smartwatch market leadership to Huawei
CHANGING DYNAMICS OF WEARABLES INDUSTRY
1 min
EU escalates pressure on Apple to open up features to rival firms
CHANGING DYNAMICS OF WEARABLES INDUSTRY
1 min
India-Pak ICC matches at neutral venues
THE DEADLOCK OVER the hosting of next year's Champions Trophy finally ended on Thursday when the ICC announced that India will play their matches of the 50-over event at a neutral venue instead of host country Pakistan, which will get a similar arrangement for tournaments to be held in India till 2027.
1 min
EU escalates pressure on Apple to open up features to rival firms
The EU’s European Commission has pressed Apple Inc. to further open up the iPhone operating system to rivals, prompting the company to complain about requests from Meta Platforms Inc. that it says will undermine privacy.
1 min
Financial Express Chennai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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