Business Standard - August 15, 2024

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August 15, 2024

SC allows retrospective mining taxes by states

Setback for miners as they will have to pay levy from 2005

3 mins

TN govt powers Foxconn residence for 18K women

The Tamil Nadu government is set to unveil a housing initiative for 18,720 women employed by Taiwanese tech giant Foxconn, a key supplier to iPhone-maker Apple, this Saturday.

2 mins

Theatres pin hopes on long weekend

It has been a lacklustre year for theatre owners and the film industry this year so far, with only Kalki, the lavishly mounted science fiction film starring Prabhas setting the boxoffice on fire.

1 min

Ola Electric's loss widens in Q1

Ola Electric Mobility's Q1FY25 loss widened year-on-year (Y-o-Y) to 346 crore from Q1FY24 loss of ₹268 crore.

1 min

Byju's-BCCI settlement: SC stays NCLAT order

In a setback to Byju's, the Supreme Court on Wednesday stayed the order of National Company Law Appellate Tribunal (NCLAT) that allowed the edtech firm's 158.9 crore dues settlement with the Board of Control for Cricket in India (BCCI).

1 min

'We were tracking BT for 4-5 yrs, closed the deal in 2 weeks'

Fresh from the major announcement of acquiring a quarter share in Britain's legacy telecom provider BT, Bharti Global's Managing Director and Founder & CEO of Unbound Advisors, SHRAVIN MITTAL says the mandate is to make strategic investments in assets that can compound over generations. In a virtual interaction with SUBHAYAN CHAKRABORTY & NIVEDITA MOOKERJI, Mittal talks about the $4-billion BT deal, his firm Unbound, and Airtel. Edited excerpts:

3 mins

SpiceJet profit drops 20% to ₹158 crore on fewer flights

Airline says it has initiated process of raising ₹3,000 crore through QIP

1 min

Retailers see light at the end of tunnel as I-Day sales provide much-needed boost

Retailers are set to end a prolonged period of sluggish sales as the end-of-season sales (EOSS) coincide with the upcoming long weekend.

1 min

Supersonic BRAHMOS Safeguarding the Nation

The rise of modern India as a responsible power of this century has gained momentum.

1 min

Atmanirbhar Bharat Shaping India's Defence Budget for 2024-25

The Indian Defence Budget for 2024-25 reflects the nation's commitment to self-reliance through Atmanirbhar Bharat

2 mins

MQ-9B: The Ultimate Advantage for India's Aerospace Industry and Its Armed Forces

As India looks ahead toward growing its roles and responsibilities on the world stage, there seem to be no limits in sight.

2 mins

India's Defence Diplomacy Boosting Exports to Friendly Nations

India is making significant strides in expanding its defence exports to friendly countries, leveraging its growing defence manufacturing capabilities.

2 mins

Leading the Way in MRO Services to Enable Aatmanirbharta

Boeing with a legacy spanning over eight decades in India, takes pride in its pivotal role in transforming the country's aerospace and defence sector

4 mins

The Aerospace Genius

Dr Lall is well-versed not only in technology matters, but foreign policy issues as wel

3 mins

Drones : A Game-Changer in Modern Warfare

Drones have become essential in modern warfare, transforming military capabilities. India's private sector is rapidly advancing in drone technology, supporting the nation's push for self-reliance in defence.

2 mins

How IDEX Winners are Securing Major Contracts with the Indian Forces

Innovative Defence India's defence landscape is witnessing a remarkable transformation, driven by a wave of innovation and entrepreneurship.

2 mins

Rescued realty firms 2.5x those liquidated: IBBI chief

The Insolvency and Bankruptcy Code (IBC) has led to successful resolution of 46 per cent cases admitted in the real estate sector as of June 2024, the latest data with the Insolvency and Bankruptcy Board of India (IBBI) showed.

1 min

Karnataka halts transactions with SBI, PNB

The Karnataka government on Wednesday issued an order asking all state government departments, including public sector units, boards, corporations, local bodies, and universities, for the immediate withdrawal of deposits from State Bank of India (SBI) and Punjab National Bank (PNB) and stop transacting anv business with these institutions.

1 min

Axis Bank taps HNIs beyond metros with wealth product

Says pace of growth of affluent Indians outstripping almost every country's

1 min

Looking at FDI policy review: Commerce secy

New Delhi, 14 August The Union government is looking at revising the foreign direct investment (FDI) policy, and is doing stakeholder consultation regarding the same, Commerce Secretary Sunil Barthwal said here on Wednesday.

1 min

Top 3 UPI firms process 93% of transactions

The top three players on India's flagship payments platform, Unified Payments Interface (UPI), processed 93 per cent of all such transactions in July, according to data from the National Payments Corporation of India (NPCI).

1 min

WPI inflation cools to 3-mth low of 2%

Moderation driven by decline in inflation of primary articles

1 min

Exports dip 1.5% in July; trade gap at 9-mth high

Muted demand, geopolitical challenges weigh on outbound shipments

2 mins

India@77:5th-largest economy needs growth to trickle down

Nation faces challenges regarding per capita income and widening income gap between top 1% and bottom 50% remains a concern

2 mins

Stage set for next-generation economic reforms: President

President Droupadi Murmu on Wednesday said the steps that the government has taken across sectors have set the stage for the next-generation of economic reforms and growth.

2 mins

Ukrainian troops move deeper into Russia

Ukraine said on Wednesday its forces had advanced further into Russia's Kursk region in the biggest foreign incursion into Russia since World War Two, posing a dilemma for President Vladimir Putin according to US President Joe Biden.

1 min

US mulls rare antitrust move: Breaking up Google

Abid to break up Alphabet Inc's Google is one of the options being considered by the US Justice Department after a landmark court ruling found that the company monopolised the online search market, according to people with knowledge of the deliberations.

2 mins

How 'deepfake Elon Musk' became the internet's biggest scammer

All Steve Beauchamp wanted was money for his family. And he thought Elon Musk could help.

2 mins

US retail inflation falls to 2.9% in July

Annual rise below 3% for first time since 2021

1 min

Mars to acquire Pringles maker in $36 bn deal

Family-owned candy giant Mars is buying Cheez-It maker Kellanova in a nearly $36 billion deal, bringing together consumer food brands from M&M's and Snickers Pringles and Pop-Tarts in one of the biggest deals in the industry.

1 min

Japan PM Kishida bows out as support declines

Three-year term dogged by political scandals, discontent over inflation

1 min

Rural aspirations

India needs equitable growth

2 mins

Revising the consumption basket

Flood inflation continues to be in the news.

4 mins

Jobs & growth: Good news and bad news

Our potential for decades of high growth demands the creation of millions of high-quality jobs in labour-intensive industries

4 mins

Narrowing the divide

Banks need to adjust to lower margins

2 mins

Majority of Google phones may soon be India-assembled

Currently, the phones are made in Vietnam and China

2 mins

'Not looking to bring in strategic investor'

Metropolis Healthcare Executive Chairperson and Whole-time Director AMEERA SHAH talks about her plans for network expansion, and focus on business-to-consumer segment as well as expansion of footprint in smaller towns of India. In a video interview with Sohini Das, Shah outlines her strategy for international business, and also talks about why she got in a new CEO. Edited excerpts:

2 mins

July PV wholesales fall 2.5% on inventory woes

Passenger vehicle (PV) wholesales in July have slipped by 2.5 per cent as original equipment manufacturers (OEMs) have recalibrated their dispatches to dealers in the wake of high unsold inventory lying at the retailers' end.

1 min

Over 400 sexual harassment at work cases every year since 2018

India has seen over 400 cases of sexual harassment at work every year since 2018, with an average of 445 cases being reported yearly, according to National Crime Records Bureau (NCRB) data.

1 min

Oppn fuelling B'desh-like protests, says Mamata

CBI reaches Kolkata; Rahul questions local admin on attempt to save accused’

3 mins

Global immigration crackdown ensnares students abroad

International students long the golden goose for universities and colleges in advanced economies - face an increasingly uncertain future as governments seek easy targets to rein in surging immigration.

7 mins

No NOC request for NSE IPO, says Sebi

The Securities and Exchange Board of India (Sebi) on Wednesday informed the Delhi High Court that the National Stock Exchange (NSE) has not submitted a fresh request for a no-objection certificate (NOC) for its listing.

2 mins

Mkts snap 2-day losing run

Ending its two-day losing streak, benchmark BSE Sensex closed higher by 150 points on Wednesday following a rally in IT stocks amid a surge in the US markets on renewed hopes of a rate cut by the Fed in September.

1 min

Equity schemes stockpile cash in response to sky-high valuations

July sees cash levels climb to 5.4% from June's 4.6%

2 mins

Hindalco Q1 in line with expectations, outlook positive

THE COMPASS The consolidated performance of base metals major Hindalco has matched expectations.

3 mins

Hindustan Zinc OFS base price set at ₹486

Share sale by Vedanta to fetch #6,500 crore

1 min

Mauritius no 'tax haven': FSC on Hindenburg row

The Financial Services Commission (FSC) of Mauritius on Tuesday said the offshore fund at the heart of the conflict of interest allegation Hindenburg Research levelled against Sebi chief is not domiciled in the Island nation, and that it does not permit the creation of shell companies.

1 min

Valuations to keep Bosch under stress

Most brokerages cautious on firm's outlook and have a 'sell' rating

2 mins

LIC's refusal to assign policies to ACESO may be contempt of court, says founder

State-owned Life Insurance Corporation's (LIC's) refusal to assign policies to ACESO may tantamount to contempt of court, said Ketan Mehta, director & founder, ACESO, citing a 2015 Supreme Court judgement, allowed transfer and assignment of LIC's policies in accordance with the provisions of the Insurance Act, 1938.

1 min

Digital payments risk to op stability, needing more IT funding: RBI dy guv

While widespread adoption of digital payments has facilitated rapid, low-cost transactions and easy withdrawals through banking and mobile apps, it has also heightened risks to operational stability, requiring continuous investments in IT systems and technology to handle peak loads effectively, said Swaminathan J, deputy governor, Reserve Bank of India (RBI), on Wednesday.

1 min

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