Business Standard - December 19, 2024

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December 19, 2024

'India charges a lot': Trump threatens 'reciprocal' tariffs

The United States President-elect Donald Trump's latest criticism of India's tariffs and his warning of reciprocal measures are setting the stage for heightened pressure on policymakers in New Delhi.

1 min

Safari Retreats case on GST Council table, SC Verdict may be reversed

In what could be a blow to real estate companies, the Goods and Services Tax (GST) Council in its meeting on Saturday is likely to take up the proposal to retrospectively amend the Central Goods and Services Tax (CGST) Act, thereby reversing the recent Supreme Court judgment in the Safari Retreats case.

2 mins

Govt may target FY26 fiscal deficit at 4.4% of GDP

Looks to ensure enough financial headroom amid global headwinds

2 mins

myTVS takes a quantum leap, to deliver auto parts in 2 hours

Will also distribute lubricants for passenger, commercial vehicles with myTVS Hypermart

2 mins

Damani tops self-made entrepreneur list

MakeMyTrip, PolicyBazaar founders in top 10 of Hurun India's list for first time

1 min

Databricks raises $10 bn in record VC round

Databricks has raised $10 billion in one of the largest venture capital funding rounds in history.

1 min

The macro, micro, and nano world of influencers

THE CONCLUDING PART OF THE TWO-PART INFLUENCER ECONOMY SERIES DELVES INTO HOW MARKETERS CAN USE INFLUENCERS FOR A BRAND AND WHAT THE CHALLENGES ARE

3 mins

SC classifies small bottles of coconut oil as edible

Says it should be taxed at 5% instead of 18% in 15-yr-old dispute

1 min

CEOs seek infra status, increase in marketing spend

Chief executive officers (CEOs) from major hospitality companies raised concerns about taxation policies and the lack of infrastructure status for hotels during a closed-door meeting with government officials on Wednesday at the 18th CII Annual Tourism Summit.

1 min

Hotel room rates log record highs in '24 on tourism peak

Increase driven by boom in domestic tourism, weddings in Nov and Dec

2 mins

Infosys unveils campus in Kolkata

Information Technology (IT) giant Infosys on Wednesday inaugurated a development centre built at a cost of ₹426 crore at New Town.

1 min

IndiGo suggests increase in pilot rest time from June

IndiGo has proposed to the Directorate General of Civil Aviation (DGCA) a step-by-step increase in the weekly rest period for pilots, saying it wants the implementation to begin from June 2025, Business Standard has learnt.

1 min

Minister tells sector leaders to prepare 'concrete' paper

Union Tourism Minister Gajendra Singh Shekhawat has asked hospitality sector stakeholders to prepare a \"concrete\" paper seeking infrastructure status for the travel and hospitality sector, a demand which he will put forth before the finance ministry.

1 min

GOM backs GST exemption on term life insurance plans

5% tax on health premiums, exemptions for seniors also recommended

2 mins

At $129 bn, India top recipient of remittances this year: World Bank

India was the topmost recipient of remittances in 2024 with an estimated inflow of $129 billion, followed by Mexico, China, Philippines and Pakistan, driven by a recovery in the job markets in high-income countries, a blog post by World Bank economists said on Wednesday.

1 min

DP World lays tracks for logistics growth with Pali facility boost

Stretched across 44 acres, the sound of heavy machinery and the creaking of metal is constant at DP World's Pali rail terminal in Rewari, Haryana, which is slated to increase its capacity by 25 per cent, expecting greater business opportunities across Northern India.

2 mins

India, China seek mutually acceptable border settlement

National Security Advisor Ajit Doval and China's Foreign Minister Wang Yi on Wednesday aimed for a \"reasonable and mutually acceptable framework\" to resolve the border issue and held discussions for the resumption of the Kailash Mansarovar Yatra during the Special Representatives (SRs) meeting in Beijing.

1 min

India on 10th spot in US trade deficit rankings

India may not have been on the list of the top 10 countries with which the US had the highest trade deficit in calendar year (CY) 2023, but there was cause for concern for India.

1 min

Investments, consumption to drive 6.6% growth in FY26

Gradual improvement in consumption demand and investments from both the public and private sector due to monetary easing are expected to push India's economy to grow a tad faster at 6.6 per cent in the financial year 2025-2026 (FY26) compared with the downward revised projection of 6.4 per cent for the current financial year, India Ratings and Research said on Wednesday.

1 min

Direct tax mop-up rises 16.4% to ₹15.8 trillion

Non-corporation taxes see strong growth; STT jumps 85.5% Y-o-Y until December 17 of FY25

1 min

'Unusual' gold import surge under govt lens

OFFICIALS WORKING TO RECONCILE DATA, POSSIBLY OVERSTATED BY 50 TONNES IN NOV

2 mins

RBI dials down use of NDFs to fight dollar

The Reserve Bank of India has started to rein in its ballooning non-deliverable forwards (NDFs) book, according to sources, shifting away from one of its key tools to push back against the strong dollar.

1 min

Plan to take UPI live to 4-6 nations next year, says NPCI arm CEO

NPCI International Payments (NIPL), the body responsible for deploying NPCI's homegrown payment products globally, is in the process to expand the reach of the Unified Payments Interface (UPI) to four to six additional countries in 2025, up from the current seven, according to a senior official.

1 min

Shriram Finance secures record $1.27 bn multi-currency loan

Shriram Finance on Wednesday said that it has raised $1.27 billion through a syndicated external commercial borrowing (ECB) in various currencies, making it the largest such loan secured by a domestic private non-banking finance company (NBFC).

1 min

Punjab & Sind Bank raises ₹3,000 cr via 10-yr infra bond

State-owned Punjab & Sind Bank on Wednesday raised ₹3,000 crore through 10-year infrastructure bonds at a coupon rate of 7.74 per cent, said sources aware of the development.

2 mins

PCHFL looks to sell ₹550 cr NPLs via Swiss auction

Piramal Capital & Housing Finance Limited (PCHFL), a wholly-owned subsidiary of Piramal Enterprises, is seeking counterbids to sell two pools of non-performing loans (NPLs) worth ₹550 crore through a Swiss challenge auction, triggered by an anchor bid of ₹118 crore.

1 min

BJP, Oppn lock horns over Shah's Ambedkar comment

Almost all prominent Opposition leaders, including chief ministers, on Wednesday criticised Union Home Minister Amit Shah for his remarks on BR Ambedkar, with Congress President Mallikarjun Kharge demanding that Prime Minister Narendra Modi sack Shah from the Council of Ministers.

2 mins

Cong should've made Manmohan Prez, Pranab PM in 2012: Aiyar

Congress leader Mani Shankar Aiyar has said the party could have saved itself the ignominy of sinking to 44 seats in the 2014 Lok Sabha elections if it had sent Manmohan Singh – the then prime minister – to the Rashtrapati Bhavan in 2012, and replaced him with Pranab Mukherjee.

2 mins

Priyanka on simultaneous polls House panel

Former Union ministers Anurag Thakur and P P Chaudhary from the BJP, and Priyanka Gandhi Vadra of the Congress are set to be among the 21 Lok Sabha members, who will be part of the joint committee of Parliament that will scrutinise two Bills on simultaneous elections. The Lok Sabha's list of business for Thursday included the names of 21 MPs to be part of the committee, a motion on whose constitution will be moved by Law Minister Arjun Ram Meghwal.

1 min

Sunita Williams' return delayed till March

NASA's two stuck astronauts just got their space mission extended again.

1 min

US lines up Bill to avert partial govt shutdown

Top Republicans and Democrats in the US Congress unveiled a stopgap measure on Tuesday to keep federal agencies funded through March 14, which would avert a partial government shutdown that would otherwise begin on Saturday.

1 min

Honda, Nissan weigh merger as competition hots up

BAILOUT IN THE WORKS: Nissan's financial and strategic trouble adds more urgency for closer cooperation with larger rival Honda

2 mins

US set to begin probe into Chinese semiconductors

President Joe Biden's administration is set to initiate a trade investigation into Chinese semiconductors in the coming days, as part of a push to reduce reliance on a technology that US officials believe pose national security risks.

1 min

Bain goes hostile as Fuji Soft battle with KKR intensifies

Bain Capital said on Wednesday it plans to launch a tender offer for Fuji Soft shares even without the backing of the Japanese firm's board should a second-round bid from rival suitor KKR fail.

1 min

As bitcoin soars, luxury brands consider accepting crypto payments

Bitcoin's soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap into fresh pockets of wealth and build loyalty with crypto investors.

2 mins

Russia detains suspect in killing of nuclear chief, blames Ukraine

Russian authorities detained an Uzbekistan national on suspicion of killing a top general in a Moscow bomb attack, and said he'd been recruited by Ukrainian security services to carry out the assassination.

1 min

The spirit of governance

Directors must exercise fiduciary duties

2 mins

Thinking small to make it big

In the award-winning TV series Mad Men, there is a scene in which the creative director of the ad agency Sterling Cooper, Don Draper, points to a page of The New York Times. The page contains a full-page ad for the car brand Volkswagen. \"Guys, this is the future of advertising,\" Draper says. The ad to which he was referring had the pithy headline \"Think Small\". The car is shown in a tiny size in the corner of the ad. A large part of the ad is blank space.

3 mins

Moving beyond dependence

Over 50 per cent of municipal corporations generate less than half their revenue independently, while government transfers rose by over 20 per cent in 2022-23, according to the Reserve Bank of India's (RBI's) recent report on municipal finances.

3 mins

The Great Capitulation

With tech CEOs and other elites bowing to Mr Trump, the air is going out of the old liberal order

4 mins

Style and substance

Specialised funds will increase choices

2 mins

Aluminium seen as outlier among metals; Hindalco better placed

Most industrial metals are expected to stay bearish at least in early 2025. However, aluminium could be an exception.

3 mins

MFs raise banking, IT stocks exposure amid market correction

Shift reflects strong performance and new investments flowing into these sectors

2 mins

Bourses see three blockbuster debuts

Mobikwik up 90%; Vishal Mega Mart, Sai Life gain 40%

1 min

Sebi tightens SME listing norms, widens UPSI scope

The Securities and Exchange Board of India (Sebi) on Wednesday approved tighter regulations for listing of small and medium enterprises (SMEs), broadened the scope of unpublished price-sensitive information (UPSI), and overhauled regulations governing investment bankers.

1 min

₹ hits fresh low of 84.96 against $

The rupee has depreciated further to close at a fresh low of 84.96 against the US dollar on Wednesday as foreign banks purchased dollars on behalf of their clients ahead of the outcome of the US Federal Reserve meeting, said dealers.

1 min

FPI selling ahead of Fed meet drags market down for 3rd day

Overseas investors pull out ₹8,000 crore this week

2 mins

New coat of opportunity for Berger and Indigo

Analysts see potential in select paint stocks amid entry of big players

2 mins

TRAVEL INSURANCE FOR HOLIDAYERS Sum insured should depend on destination, trip duration, and age

This holiday season, Indian travellers are likely to flock to short-haul destinations.

2 mins

CRYING OVER SPILT MILK

From 6.62 in FY18, India’s milk production growth rate has fallen sharply to 3.78% in FY24

5 mins

The art of leaving

Ravichandran Ashwin, the quintessential cricketing nerd who bamboozled batters through skill, guile, and acumen, stumped fans around the globe on Wednesday when he retired from international cricket with immediate effect at the end of the third Test of the Border-Gavaskar Trophy in Brisbane.

3 mins

13 dead as Navy speedboat rams into ferry off Mumbai coast

Thirteen persons died and 99 others were rescued after a Navy craft crashed into a ferry off the Mumbai coast on Wednesday, the Navy said.

1 min

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