Financial Express Kolkata - December 18, 2024Add to Favorites

Financial Express Kolkata - December 18, 2024Add to Favorites

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In this issue

December 18, 2024

NHPC aims to have installed capacity of 50 GW by 2047

A state-run hydropower company, NHPC, plans to raise its total installed capacity to 23 gigawatts (GW) by 2032 from its current capacity of 7.2 GW.

3 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

Q2 a blip, growth to pick up again: FM

THE ECONOMIC GROWTH slowdown in the second quarter of the current financial year was a blip due to a slower pace of spending, but the coming quarters will likely see healthy growth, finance minister Nirmala Sitharaman said on Tuesday.

1 min

DHL, 2 more shortlisted for e-comm export hubs

● Initial centres will come up in Mumbai, Delhi and Bengaluru

2 mins

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TO PUSH DOMESTIC manufacturing, the government has withdrawn a scheme which permitted duty-free import of goods for solar power generation.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

India, Bhutan moving forward with shared goals: Himanta

INDIA AND BHUTAN are moving forward with shared goals and aspirations, Assam CM Himanta Biswa Sarma said at Bhutan's National Day programme.

1 min

One nation, one poll Bills introduced in Lok Sabha

● 269 vote for and 198 against their introduction

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\".

1 min

Discontent in Mahayuti: Bhujbal says 'reward' for standing up for OBCs

DAYS AFTER MAHARASHTRA Cabinet expansion, senior ministers from the previous government and several MLAs from three ruling allies — BJP, NCP and Shiv Sena — who were not inducted openly expressed their discontent.

1 min

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

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.

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

Maruti first carmaker to produce 2 mn units in a year

MARUTI SUZUKI ON Tuesday said it has become India's first original equipment manufacturer (OEM) to produce two million vehicles in a calendar year.

1 min

Big Tech may have to pay more for SMSes in India

● Trai's definition identifies their traffic as international

2 mins

Developers go slow on home launches

NEW SUPPLY OF residential units remained relatively tepid in 2024 compared to 2023, mainly due to election-related approval delays in H1 and state elections in H2.

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

Sanghi & Penna to merge with Ambuja

SEPARATE SCHEMES OF ARRANGEMENT ANNOUNCED

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

Airline gets DGCA show-cause notice

AVIATION REGULATOR DGCA has issued a show cause notice to Akasa Air for violation of norms related to the airline's operations manual, according to sources.

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

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

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

Sebi likely to relax AIF norms

● Participants asked to adopt accredited investors concept

2 mins

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

Indian firms raise $16 billion via QIP

ROBUST RESPONSE

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

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

FPI 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 bid to curb regulatory arbitrage.

1 min

Platform proposed for tracking unclaimed mutual fund folios

BRINGING BACK TO LIFE

1 min

Wealth tax: A bad idea

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

2 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.

3 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

Transforming rural health systems

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

4 mins

Emami versus HUL over 'Glow & Handsome'

In April this year, the Calcutta High Court restrained Hindustan Unilever (HUL) from using the 'Glow & Handsome' trademark for its men's fairness range following an application by Emami.

1 min

Line of control

● When should a brand stop trying to jolt the audience?

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

A top 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

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

after last week's earnings report is reminiscent of when Nvidia Corp. shares first started to take off back in 2023. The chipmaker now needs to prove it can follow through to become another giant of the artificial intelligence era.

2 mins

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

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

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

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

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

EPFO weighs higher equity investments

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

2 mins

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

Indian firms use euro, yen swaps

ECB president Christine Lagarde hinted at a bigger 50 basis point rate cut to buffer the euro zone economy

1 min

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

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

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

EVEN AS ASSORTED government schemes are a national skill mission aiming to make India's workforce more employable, the latest TeamLease EdTech survey has revealed that barely 2% of the higher education institutions (HEIs) in the country are offering degrees that are work-linked.

1 min

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Financial Express Kolkata Newspaper Description:

PublisherThe Indian Express Ltd.

CategoryNewspaper

LanguageEnglish

FrequencyDaily

The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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