Financial Express Pune - December 25, 2024
Financial Express Pune - December 25, 2024
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In this issue
December 25, 2024
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.
3 mins
Household liabilities rise to 6.4% of GDP in FY24
Net financial assets at 5.3%
2 mins
Unincorporated sector generates 11 mn jobs
SMALL FIRMS MAKE BIG CONTRIBUTION
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
Duty-free import of yellow peas extended till February
THE GOVERNMENT ON Tuesday extended duty-free import of yellow peas, used as a 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
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
Laptop import nods may be tied to capacity growth
TO REDUCE IMPORT dependence and boost domestic manufacturing of laptops and other IT hardware items, the Union government may link import permissions to domestic capacity expansion going forward, it has been learnt.
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
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
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
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
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
Emerging tech sectors stake claim on 600 MHz spectrum
● Allocation should not be beyond a point, say telcos
2 mins
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
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
AIMS TO BE PROFITABLE IN 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, analysing the latest telecom subscriber data released by the Telecom Regulatory Authority of India (Trai).
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
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
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
'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
Rupee hits record closing low for 6th straight session
THE RUPEE WEAKENED to its all-time low for the sixth consecutive trading session on Tuesday as a rise in US bond yields boosted the dollar and strong demand for the greenback from importers added to the lingering pressure on the local currency.
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
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
China mulls $411-bn special treasury bonds in 2025
CHINESE AUTHORITIES HAVE agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, two sources said, which would be the highest on record, as Beijing ramps up fiscal stimulus to revive a faltering economy.
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
Honda-Nissan merger requires time
HONDA AND NISSAN expect big benefits from their potential merger to create the world's third-largest auto group, but intense competition from China raises questions about whether they can make it work in time.
1 min
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
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
Downward drift
RBI, which has been intervening in currency markets to prevent a sharp fall in the rupee, must reassess its stance
2 mins
'Buying jewellery today is akin to fine dining-it's thoughtful & deliberate'
INTERVIEW: SANDEEP KOHLI, CEO, INDRIYA
3 mins
Road to relevance
How to craft a brand strategy that stands the test of time
1 min
Changing the lens can make a big difference
The actual lead is missing from the OCR text.
1 min
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
Uniting for greater good
COLLABORATIVE PHILANTHROPY is not a new idea. History has many examples of communities coming together for the common good.
5 mins
Local satellites push draws 30 aspirants
The applicants for INSPACe's latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group's Tata Advanced Systems.
1 min
₹2-cr fine on Deloitte Haskins for Zee audit
In July 2019, the bank appropriated the FD towards the settlement of loan amounts due from seven promoter group companies. However, the NFRA noted that neither the creation and maintenance of FD, nor its reappropriation by the bank was with the approval of the board or shareholders of the company.
1 min
Economists for FTAs, land & labour reforms
RCEP was signed by the group of countries in November 2020 except India.
1 min
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
Walking into a minefield
Even though she made a very strong pitch that funds will move away from the regulated markets towards crypto and similar assets, if bourses don't move towards instantaneous settlement, neither brokers, nor the exchanges made a real effort to back her.
1 min
Labour-intensive exports: Gains likely to be short-lived
India's textile exports saw modest growth in April-November, but this may be short-lived due to a volatile rupee and challenges in the global market. While a weaker rupee could boost exports, the gains may be offset by increased raw material costs and the need for greater competitiveness.
2 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
A middle-class meltdown
Economic shift, stagnating real income post Covid weigh on spending on daily items
3 mins
Financial Express Pune Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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