Financial Express Mumbai - December 25, 2024
Financial Express Mumbai - December 25, 2024
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In this issue
December 25, 2024
NFRA slaps ₹2-cr fine on Deloitte Haskins for Zee audit
THE NATIONAL FINANCIAL Reporting Authority (NFRA) has imposed a fine of ₹2 crore on Deloitte Haskins & Sells, and penalties on two chartered accountants (CAs) for lapses in the auditing of Zee Entertainment Enterprises (ZEEL) for FY19 and FY20.
1 min
Economists seek FTAs, land & labour reforms
Stress the need to return to 7-8% GDP growth
3 mins
Labour-intensive exports: Gains likely to be short-lived
Significant import content in several sectors, sharper drop in other currencies to play spoilsport should have come as a shot in the arm for India's labour-intensive exports.
4 mins
Local satellites push draws 30 aspirants
Companies include Google-backed Pixxel, Tata arm
1 min
Walking into a minefield
MADHABI PURI BUCH won't forget 2024 in a hurry. In an interview to a business magazine at the beginning of the year, she had proudly proclaimed that she knew exactly \"where all the skeletons are hidden.\" Just about six months after that statement, the world turned upside down for the first woman chairperson of the Securities and Exchange Board of India (Sebi), with many questioning whether the so-called \"skeletons\" were actually hidden in her cupboard.
3 mins
Unincorporated sector generates 11 mn jobs
THE UNINCORPORATED NON-AGRICULTURAL sector in India has added about 11 million more jobs in October 2023-September 2024 as compared to the year-ago period, with addition of 8.4 million establishments, official data released on Tuesday showed.
2 mins
Rabi sowing a tad below last year's level; oilseed cultivation down 5.5%
WITH JUST A few weeks left for the rabi season to be over, sowing of winter crops such as wheat, pulses, oilseeds, and coarse cereals has been a tad below last year's level so far as the area under oilseeds have declined.
1 min
Economic growth to pick up in H2FY25, says RBI bulletin
THE COUNTRY'S ECONOMIC growth trajectory will likely pick up in the second half of the current financial year, driven by domestic private consumption and a sustained revival of rural demand, the Reserve Bank of India (RBI) said in its monthly bulletin released on Tuesday.
1 min
Mining sector gets a leg-up, import reliance down
India's mining industry took a long stride this year supported by government policies in the critical minerals mining as it intends to boost domestic production, reducing dependency on imports and helping in realising the renewable energy targets.
4 mins
Household liabilities rise to 6.4% of GDP in FY24
THE NET FINANCIAL liabilities of India's households went up to ₹18.79 lakh crore in FY24, or 6.4% of GDP, a rise over the previous year's 15.96 lakh crore, or 5.9% of GDP, data from the Reserve Bank of India (RBI) showed.
1 min
Kirana body seeks tech support for e-comm challenge
The Federation of Retailer Association of India on Tuesday asked the government to provide enhanced technology platform to Kirana stores to enable them to compete with quick commerce firms.
1 min
Duty-free import of yellow peas extended till February
THE GOVERNMENT ON Tuesday extended duty-free import of yellow peas, used as substitute of chana, for two more months till the end of February, with the aim to curb prices of the key pulses variety.
1 min
Laptop import nods may be tied to capacity growth
Boosting Domestic Manufacturing
1 min
Exporters draw up plans to raise share in US market
IN ANTICIPATION OF the US going ahead with higher tariffs on Chinese imports, the Federation of Indian Export Organisations (FIEO) has formulated a strategy to raise its share in the US market.
1 min
Happiest Minds sees slower FY25 revenue growth
HAPPIEST MINDS TECHNOLOGIES anticipates its revenue growth for fiscal 2025 to be at the lower end of the guided range of 30-35%, Venkatraman Narayanan, managing director and CFO of the company said.
1 min
Logistics leasing to hit 50 mn sq ft
Logistics & Industrial (L&I) real estate leasing volume for 2024 is expected to reach 50-53 million square feet (MSF), marking the third consecutive year with leasing volume exceeding 50 million sq ft, according to a report by property consultant Cushman & Wakefield.
2 mins
Emerging tech sectors stake claim on 600 MHz spectrum
Allocation should not be beyond a point, say telcos
2 mins
Coforge working on 30 GenAI use cases in insurance, 10 live
IT SERVICES COMPANY Coforge is actively working on over 30 generative AI (GenAI) use cases within its insurance vertical, with 10 already in production.
1 min
Gift voucher: Clarity on GST spurs optimism
THE GST COUNCIL'S decision to exempt gift vouchers from indirect taxation has brought much-needed clarity to the retail and corporate sectors, with industry leaders lauding it as a significant step forward.
1 min
inDrive eyes last-mile delivery
Plans to leverage logistics expertise
1 min
IndiQube files draft papers for ₹850-cr IPO
BENGALURU-BASED INDIQUBE, which provides co-working and managed office spaces, has filed its draft papers with the regulator for an initial public offering to raise ₹850 crore.
1 min
Ola enters grocery delivery biz again
BHAVISH AGGARWAL-LED Ola has announced its entry into the quick delivery space for groceries with \"Ola Grocery\". In a social media post, the firm said the service is live across India.
1 min
SaaS firm LeadSquared looks to turn profitable by FY26
LEADSQUARED, a Bengaluru-based SaaS unicorn, is setting its sights on profitability by FY26, despite past challenges stemming from the downturn in the edtech sector.
1 min
Swiggy targets 100K female delivery partners by 2030
Swiggy plans to have at least 100,000 female delivery partners by 2030, according to company MD and group CEO Sriharsha Majety.
1 min
Cashify eyes growth with D2C play
REFURBISHED ELECTRONICS SELLER Cashify has rejigged its business model to focus on selling directly to consumers through its physical stores and website, rather than selling to merchants, to improve margins and turn profitable in the next few months.
1 min
Rise in active mobile users indicates tariff hike absorption
THE INDUSTRY-WIDE addition of 6.8 million active users in October 2024 suggests that the industry has more or less absorbed the tariff hikes taken in July this year, experts said, analyzing the latest telecom subscriber data released by the Telecom Regulatory Authority of India (Trai).
1 min
Lokpal calls Sebi chief, complainants for 'oral hearing' on January 28
ANTI-CORRUPTION OMBUDSMAN LOKPAL has called Sebi chief Madhabi Puri Buch and also complainants, including TMC MP Mahua Moitra, for \"oral hearing\" next month in connection with corruption complaints being heard by it, alleging impropriety and conflict of interest on the basis of a Hindenburg Research report, according to an official order.
1 min
Tata Capital listing hopes drive shares of group companies
At ₹900 a share, the unlisted market is valuing the company at ₹3.5 lakh crore
2 mins
'Crop, motor, health and commercial to equally contribute to portfolio by FY26'
Universal Sompo General Insurance, known for its focus on motor and crop insurance, is setting its sights on expanding its health and commercial lines portfolio. In an interaction with Narayanan V, managing director and CEO Sharad Mathur shares the strategic rationale behind this diversification. Excerpts:
2 mins
Deposit mobilisation, rate cut key challenges: Indian Bank MD
THE BANKING INDUSTRY will continue to struggle with deposit mobilisation, maintaining a healthy current account savings account (CASA) ratio and a possible fall in net interest income after reduction in policy rates, said Shanti Lal Jain, MD and CEO of Indian Bank.
2 mins
Rupee hits record closing low for 6th straight session
FREE FALL CONTINUES
1 min
China mulls $411-bn special treasury bonds in 2025
FUNDS TO BOOST CONSUMPTION, INNOVATION, RECAPITALISE STATE BANKS
2 mins
Microsoft looks to add non-OpenAI models into 365 Copilot
MICROSOFT HAS BEEN working on adding internal and third-party artificial intelligence models to power its flagship AI product Microsoft 365 Copilot, in a bid to diversify from the current underlying technology from OpenAI and reduce costs, sources familiar with the effort told Reuters.
1 min
Moody's: Honda-Nissan deal is credit positive
THE PROPOSED BUSINESS integration of Honda Motor and Nissan Motor is positive overall for the credit quality of the two Japanese automakers, but it carries risks especially for Honda, according to Moody's Ratings.
1 min
Biden to decide on takeover of US Steel
NIPPON STEEL'S PROPOSED $12.3 billion acquisition of US Steel moved a step closer to being blocked after a US national security panel deadlocked on its review and left the final decision with President Joe Biden, who has repeatedly indicated his opposition to the deal.
1 min
The Trump dump
YOU CAN'T BULLY THE MARKET, CERTAINLY NOT WHEN YOU HAVE THE DEEPEST AND MOST LIQUID MARKET
3 mins
Building rural resilience
Shift in rural incomes, with reduced dependence on pure cultivation, is an encouraging trend that helps pull out excess and disguised labour from the sector
4 mins
Gloom or green shoots? Europe's year ahead
AFTER COVID-19 AND Russia's invasion of Ukraine, is Europe about to get its next existential shock in the shape of Donald Trump? From trade to defence to tech, the combination of mercantilism and MAGA is going to hurt - but hopefully also jolt Europeans out of typical complacency.
3 mins
Downward drift
RBI, which has been intervening in currency markets to prevent a sharp fall in the rupee, must reassess its stance
2 mins
Changing the lens can make a big difference
Why the campaign rocks: It's great to witness the growing number of gender-forward campaigns, each challenging outdated norm and fostering more inclusive, progressive narratives.
1 min
Road to relevance
How to craft a brand strategy that stands the test of time
1 min
'Buying jewellery today is akin to fine dining—it's thoughtful & deliberate'
\"The timing is perfect,\" says Sandeep Kohli, CEO of Indriya, arguing against any suggestion of being a late entrant in the jewellery market.
2 mins
18% GST on used EV to be paid on seller's margin
A REGISTERED PERSON will have to pay an 18% Goods and Services Tax (GST) on sale of old and used vehicle only if the seller has earned a margin, which is if the selling price is higher than the depreciation adjusted cost price of the vehicle, official sources said.
1 min
IOC to invest ₹61K cr for Odisha project
NAPHTHA CRACKER PROJECT IN PARADIP
1 min
Uniting for greater good
COLLABORATIVE PHILANTHROPY is not a new idea.
4 mins
EAM in US to boost bilateral ties
IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.
1 min
A middle-class meltdown
Economic shift, stagnating real income post Covid weigh on spending on daily items
3 mins
Net gains: Secured Virat, cautious Rohit gear up
INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.
1 min
Champions Trophy: India to play Pakistan on Feb 23
INDIA WILL PLAY all their matches of the Champions Trophy in Dubai with the marquee clash against arch-rivals Pakistan scheduled on February 23, the International Cricket Council (ICC) announced on Tuesday.
1 min
Shyam Benegal cremated with full state honours
VETERAN FILMMAKER SHYAM Benegal, the pioneer of the parallel cinema movement in Indian cinema in the 1970s and 1980s, was cremated on Tuesday with full state honours and a three-gun salute.
1 min
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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