Financial Express Delhi - December 21, 2024
Financial Express Delhi - December 21, 2024
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In this issue
December 21, 2024
India's crude oil storage at 67% of capacity
House panel calls for cautious approach given geopolitical uncertainties
2 mins
GST Council to undertake massive rates rejig today
● Fitment committee recommends tax cuts for fortified rice kernels; UVs may attract 22% cess
2 mins
Realtors body asks FM to review 18% GST on floor space index
Sitharaman urged to hike states' borrowing limits
1 min
India raises issue of non-tariff barriers with EU
INDIA HAS SAID that the non-tariff barriers are impeding trade with the European Union and has called for addressing the long-pending issues as a confidence-building measure.
1 min
Bihar gets record ₹1.81 lakh crore investment; Adani, IOC big draws
ADANI GROUP, SUN Petrochemicals and a host of other companies, big and small, on Friday committed to investing a record ₹1.81 lakh crore in Bihar, across sectors ranging from renewable energy to cement, food processing and manufacturing.
1 min
Realtors body asks FM to review 18% GST on floor space index
PROPERTY DEVELOPERS' BODY CREDAI (Confederation of Real Estate Developers Association of India) on Friday urged the central government to reconsider the proposition of charging 18% GST on FSI/ additional FSI charges paid to local authorities for real estate projects.
1 min
Goyal for integration of industry and govt to boost logistics sector
COMMERCE AND INDUSTRY minister Piyush Goyal on Friday called for a complete integration of industry stakeholders with government platforms to improve efficiency of the logistics sector.
1 min
PNB officers' federation alleges tax discrimination
ALL INDIA PUNJAB National Bank Officers' Federation (AIPNBOF) has filed a writ petition in the Madras High Court against Punjab National Bank (PNB) alleging discrimination on the issue of perquisite tax on lease of houses.
1 min
Govt signs ₹7,628 cr pact with L&T for Vajra guns
THE DEFENCE MINISTRY on Friday sealed a contract with Larsen & Toubro for procurement of K9 Vajra artillery guns for the Indian Army at a total cost of ₹7,628 crore that is expected to significantly bolster the force's strike capability.
1 min
Govt hikes copra MSP by up to ₹420 to ₹12,100 a quintal
The government on Friday announced an increase in the minimum support price (MSP) for copra by up to ₹420 to ₹12,100 per quintal for 2025 with a budget outlay of ₹855 crore.
1 min
CPSE net profits up 47% in FY24
● Petroleum firms boost earnings; m-cap up 121%
1 min
India likely to step up imports of pulses and edible oils from Brazil
● Tie-up on the cards for raising milk production
2 mins
Probe into duty on steel items begins
The DGTR has given 15 days to exporters, importers and users in India to file their response for the investigation
1 min
TechM aims for bigger bank tech spend: CEO
Nasdaq-listed IT services major raises FY25 revenue growth forecast to 4-7%
3 mins
Bajaj unveils e-Chetak variants, prices start at ₹1.2L
Will compete with Ola S1 Pro, Ather Rizta and TVS iQube
3 mins
Zoomcar takes on Uber, Ola with new cab-hailing service
NASDAQ-LISTED CAR-sharing platform Zoomcar has entered the competitive cab-hailing market in Bengaluru with the launch of Zoomcar Cabs, a move seen to challenge industry majors like Uber, Ola, and newer players like Namma Yatri and Shoffr.
1 min
Delivery booster: Q-comm firms add medicines to cart
● Medinos, Medstown lead charge in quick delivery revolution
1 min
Local players may miss out on smartphone PLI
DOMESTIC PLAYERS, APART from Dixon Technologies, are on course to miss out on the benefits of the government's smartphone production-linked incentive (PLI) scheme, which concludes in FY26.
1 min
Bajaj unveils e-Chetak variants, prices start at ₹1.2L
BAJAJ AUTO on Friday launched a new Chetak platform, the 35 Series, with two variants: the Chetak 3501 priced ₹1.27 lakh, and the Chetak 3502 priced ₹1.2 lakh, ex-showroom.
2 mins
SpiceJet's 3 grounded planes to fly again by April
DOMESTIC CARRIER SpiceJet on Friday said it is expecting three of its Boeing 737 MAX aircraft to become operationalised by April next year.
1 min
CCI approves UltraTech-India Cements deal
REGULATOR OKAYS ₹7K-CR PACT
1 min
Disrupting E2W disruptor
CHENNAI-BASED TVS MOTOR saw the volumes of its electric two-wheeler range grow by 30% to 200,700 units, holding on to the second spot.
1 min
Low-cost growth is edtech's new winning formula, not high burn, says Lightspeed
THE EDTECH SECTOR is adopting a new mantra for success—efficient customer acquisition over high marketing spends.
1 min
HC clears path for Adani to redevelop Dharavi
THE BOMBAY HIGH Court on Friday cleared the decks for redevelopment of Dharavi slums as it upheld the tender awarded to the Adani Group for the project by the Maharashtra government, ruling there was no \"arbitrariness, unreasonableness or perversity\" in the decision.
1 min
Markets log worst week
WHILE THE SENSEX plunged 4,091.53 points or 4.98% in the week, the Nifty fell 1,180.80 points or 4.77%.
1 min
RBI latest VRR auction gets robust response
THE RESERVE BANK of India's (RBI) seven-day variable rate repo auction (VRR) for ₹1.50 lakh crore has received bids worth ₹2.01 lakh on Friday, indicating a strong demand for funds from banks amid huge liquidity deficit, said interbank call money traders.
1 min
Sebi introduces uniform data sharing policy for research
THE SECURITIES AND Exchange Board of India (Sebi) on Friday directed market infrastructure institutions (MIIs) to adopt a uniform policy for sharing data for research publications.
1 min
Das pitched for inflation-growth balance at his final MPC meet
THE PRIORITY OF monetary policy should be on restoring the inflation-growth balance and aligning inflation to the apex bank's target of 4%, said Shaktikanta Das, former governor, Reserve Bank of India (RBI), according to the minutes of his last monetary policy committee (MPC) meeting, released on Friday.
1 min
Record $19 bn raised via IPOs in 2024
MORE THAN $19 BILLION has been raised in IPOs in India since January, beating the previous annual record of $17.8 billion in 2021.
1 min
Sensex tanks over 1K points, Nifty slips below 23,600
Sensex and Nifty plunged about 1.5% on Friday, taking their downtrend to the fifth straight session, due to risk aversion in the global markets after the hawkish stance of the US Federal Reserve.
1 min
Central bank steps in to stem Re slide
THE RUPEE RECOVERED from its all-time low against the dollar and appreciated 5 paise to close at ₹85.03 on Friday.
1 min
RBI latest VRR auction gets robust response
THE RESERVE BANK of India's (RBI) seven-day variable rate repo auction (VRR) for ₹1.50 lakh crore has received bids worth ₹2.01 lakh on Friday, indicating a strong demand for funds from banks amid huge liquidity deficit, said interbank call money traders.
1 min
Foxconn's interest in Nissan on hold
HON HAI PRECISION Industry, the Taiwan-based manufacturer of iPhones known as Foxconn, is putting its interest in pursuing Nissan Motor on hold while the Japanese automaker is in negotiations for a potential merger with Honda Motor Co., according to a person familiar with the matter.
1 min
Volkswagen nears deal with labour leaders
VOLKSWAGEN neared a deal with labour leaders in the company's longest negotiations over pay and jobs, sources said on Friday, but the final outcome was still uncertain as Europe's largest carmaker tries to push through cuts and avert mass strikes.
1 min
Southeast Asia has $60-bn AI boom but startups are missing
SOUTHEAST ASIA is fast emerging as an investment hot spot for AI leaders like Nvidia Corp. and Microsoft Corp., which are plowing money into cloud services and data centers.
2 mins
Trump wants EU to purchase more US oil, gas or face tariffs
● Bloc buying the lion's share of US oil and gas exports
2 mins
Tesla recalls nearly 700,000 cars in US over tyre pressure issue
TESLA SAID ON Friday it was recalling 694,304 vehicles in the United States over an issue with the tyre pressure monitoring system (TPMS).
1 min
Prez-elect's spending deal fails in House
A SPENDING BILL backed by Donald Trump failed in the US House of Representatives on Thursday as dozens of Republicans defied the president-elect, leaving Congress with no clear plan to avert a fast-approaching government shutdown that could disrupt Christmas travel.
1 min
Honda talks indicate Nissan in panic mode: Ghosn
NISSAN MOTOR PURSUING
1 min
Can Trump save dollar hegemony?
IF TRUMP WERE TO RETALIATE AGAINST THE BRICS WITH 100% TARIFFS, THE MOVE COULD BACKFIRE
4 mins
Nike's half measures need another shoe to drop
THE FIRST SHOE has dropped at Nike. On Thursday, new chief executive officer Elliott Hill set out his vision for turning around the world's biggest sportswear company, which has lost out to rivals after it prioritised selling through its own stores and website, and didn't deliver enough new products, relying instead on classic styles.
3 mins
Reforming agri marketing
Need for a GST-like body of state ministers to build consensus on a unified national market
2 mins
Top up health cover with emergency fund
Add-ons and super top-up policies can boost medical cover
1 min
Why Kia doesn't share design with Hyundai
When we start designing a new vehicle, we consciously keep in mind that there are no visual similarities with any Hyundai car
2 mins
A City sensation, but can it Amaze your Dzire for a car?
● New Amaze is as luxurious as old City, but lacks features like USB-C socket, 360-degree camera, auto-dimming cabin mirror, and sunroof
2 mins
Don't jump into algo trading without knowing the fault lines
● Retail investors should use exchange-approved algorithms
1 min
ED books KTR in Formula-E case
THE ENFORCEMENT DIRECTORATE on Friday filed a money laundering case against BRS leader K T Rama Rao and some others in a case linked to alleged payment irregularities during the Formula-E race held in Hyderabad in February 2023, official sources said.
1 min
Jaipur crash triggers blast
AT 5:45 AM—15 MINUTES after he dropped his nephew Harlal and another relative, Raju, at the Jaipur-Ajmer highway to board a truck to take them back home—Mohanlal (47) got a distressing call: there had been an explosion and that Harlal was nowhere to be found.
1 min
Chaotic winter session ends amid brawls and protests
ONE NATION, ONE POLL AND AMBEDKAR ISSUES CREATED RUCKUS
1 min
Five-time Haryana CM Chautala dies at 89
INDIAN NATIONAL LOK Dal (INLD) supremo and five-time Haryana chief minister Om Prakash Chautala, patriarch of one of the most influential political families of the state, died of cardiac arrest at his Gurugram residence on Friday. He was 89.
1 min
Bhagwat: Ram temple is a matter of faith
UNDERLINING THAT Ram temple in Ayodhya was a \"matter of faith\" for Hindus, RSS chief Mohan Bhagwat has said that it is \"unacceptable\" to rake up \"such new issues on a daily basis\" simply because of \"extreme hatred, malice, enmity and suspicion\".
1 min
Pushpa 2 hits ₹990 cr in India, ₹1,500 cr worldwide
ALLU ARJUN-STARRER Pushpa 2: The Rule has become the biggest hit of the actor's career, and even after two weeks in the cinemas, the film is still making money in double digits.
1 min
More than 15% of super-rich in India are under 30: Report
DRIVEN BY STARTUP UNICORNS AND IPOs
1 min
How India's Twenty20 batting in domestic cricket went on a six-hitting spree this year
In 2024, India's domestic T20 cricket witnessed a remarkable surge in six-hitting, driven by a change in player mindset and the impact of the Impact Sub Rule. This coincided with a decline in performance in longer formats.
2 mins
Financial Express Delhi Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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