Business Standard - August 16, 2024

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August 16, 2024

Legal bind for crypto investors caught in WazirX's fine print

For investors on the cryptocurrency exchange platform WazirX, retrieving funds lost in last month's $230 million cyberattack could prove to be a tedious and costly process if they choose the legal route.

3 mins

Ola charges ahead with 3 variants of e-motorbikes

Roadster e-bike series starts from ₹74,999

2 mins

India Inc earnings slow down in Q1FY25 despite margin gains

After four years of high double-digit growth in profits, corporate earnings of Indian companies hit a speed bump in the April-June quarter of 2024 (Q1FY25), leading to the risk of a downward revision in India Inc profit estimates for FY25 and volatility in the equity market.

3 mins

Reforms a blueprint for growth: PM

IN HIS 11TH I-DAY SPEECH, MODI ASKS STATES TO COMPETE AT GLOBAL LEVEL SAYS SKILLED YOUTH TO MAKE A MARK IN WORLD JOB MARKET

3 mins

Classic Legends launches BSA Gold Star 650cc at ₹2.99 lakh

Pricing aimed at disrupting market dominated by Royal Enfield

1 min

Ola Electric launches indigenous battery cell

Ola Electric, the winner of the Centre's flagship ₹18,100 crore production-linked incentive (PLI) scheme for advanced chemical cells (ACC), on Thursday unveiled the 'Bharat' battery cell an indigenous 4680 cell.

1 min

Binance set to start ops in India after 6 months

Registers as reporting entity with FIU

1 min

Large deals power paradigm shift in India's VC terrain

Rise 45% to $5.6 bn in H1CY24 compared to last yr

1 min

M&M eyes ₹12.5L+ crown with Thar Roxx launch

Mahindra & Mahindra (M&M), India's fourth-largest automotive manufacturer, has unveiled the highly anticipated Thar Roxx on Independence Day, aiming to strengthen its position in the sport utility vehicle (SUV) market.

1 min

Krutrim unveils AI chip making plans

Company to launch its first Al chip by 2026

2 mins

Demand to remain strong during festivals: Blue Star

Air-conditioner maker Blue Star is expecting continuation of strong demand during the upcoming festival season.

1 min

Swan Energy may sell FSRU stake to Botas for $400 mn

Billionaire Nikhil Merchantled Swan Energy Ltd has said it plans to sell its stake in a floating LNG receipt terminal to Turkey's state-run Botas for $399 million.

1 min

Tata Steel's Aashiyana expects to cross ₹3,500 cr GMV in FY25

Who buys steel online for building homes? A fair amount of people it appears going by the numbers clocked in by Tata Steel's online platform for individual home builders, Aashiyana.

1 min

Telcos' Arpu growth falls to 7.5% in FY24

Slow pace of growth precipitated the latest industry-wide tariff hikes

2 mins

Stringent safety norms for construction EVs from October 1

The Centre is set to impose stricter safety standards on electric construction equipment as the industry prepares for a green transition.

1 min

Adani Power: Committed to supplying electricity to B'desh

Adani Power said on Thursday it was committed to supplying electricity to Bangladesh, saying a recent amendment to power export rules does not affect its existing contract.

1 min

Need to transform agri space, ensure easy loans: Modi

Prime Minister Narendra Modi on Thursday said that the Union government was making comprehensive efforts to improve the lives of farmers and the need of the hour was to transform the country's agriculture system.

1 min

Secular civil code is need of the hour: PM

PM NARENDRA MODI URGED POLITICAL PARTIES TO SUPPORT 'ONE NATION, ONE ELECTION' STRESSING THAT FREQUENT ELECTIONS CREATE OBSTACLES IN THE COUNTRY'S PROGRESS

3 mins

Need competition among states to attract investors

Stressing that the world's leading firms want to invest in India, Prime Minister Narendra Modi in his 78th Independence Day address on Thursday called for state-level investment competition, asking them to establish clear policies to attract funding, offer assurances of good governance, and ensure confidence in the law and order situation.

1 min

Modi calls on Indian gaming talent to lead the world

With 442 million gamers, India is the second-largest gaming market in the world behind China.

2 mins

Indian standard must become the global standard: PM

The government is taking steps to transform India into a global manufacturing hub and there was a need to better our quality of products so that the Indian standard becomes the global standard, Prime Minister Narendra Modi said on Thursday.

2 mins

Skilled workforce can play key role in global job mkt

Highlighting the growing significance of skill development in the changing landscape of the global job market, Prime Minister Narendra Modi on Thursday said that he is hopeful of India's skilled workforce playing a prominent role and making its presence felt in the global job market.

1 min

75K medical seats in 5 years to stem student outflow

Modi expresses concern, says need to develop education system in India

2 mins

PM: Space sector key to India's growth

Prime Minister Narendra Modi on Thursday said the country's space sector was going to be crucial in aiding India's growth story, and that his government had opened the sector to private players, resulting in the startup boom that the country is seeing in the sector now, hinting at more reforms.

1 min

India leading G20 in climate action: Modi

Only G20 nation to achieve emission target ahead of deadline, says PM

2 mins

Govt says committed to major eco reforms

Prime Minister (PM) on Narendra Modi Thursday said his government is deeply committed to \"major reforms\", emphasising that the process of reforms is not driven by compulsion, but by the intention to strengthen the nation.

2 mins

Russia beefs up border defence after lightning Ukrainian incursion

Russia said on Thursday that it would beef up border defences, improve command and control and send in additional forces nearly 10 days after Ukraine made the biggest attack on Russian sovereign territory since World War Two.

1 min

B'desh may ask India to extradite Hasina: Advisor

Probe starts against former PM, nine others for genocide

1 min

Coming to 'iPhone city': An electric car factory from Foxconn

The core of Foxconn's business is in Zhengzhou, the capital of Henan province in central China, known as \"iPhone City.

2 mins

Walmart Q2 revenue up 4.8% on steady demand

Retail giant raises sales and profit forecasts for second time this year

1 min

Gaza truce talks start in Doha as tensions simmer

Israel began talks with international mediators about a proposed pause to the more than 10month-old war in Gaza that the region hopes could douse spiralling tensions between the Jewish state and Iran.

1 min

Columbia univ Prez Shafik quits after months of chaos

Columbia University President Minouche Shafik resigned after a tumultuous period sparked by protests over the war in Gaza, becoming the third leader of an Ivy League school to over turmoil tied to the conflict and accusations of antisemitism on campus.

1 min

Group taxation regime for infrastructure

In a move that could redefine the landscape of infrastructure development in India, the government would do well to consider introducing a group taxation regime for the sector under the Income Tax Act, 1961.

4 mins

Chinese investments will not benefit India

High cost of doing business and geopolitics limit opportunities

4 mins

Road to Viksit Bharat

India will need continuous reforms at all levels

2 mins

Telemarketing calls

Trai's latest order must be implemented effectively

2 mins

Focused funds fail to enthuse investors

Pull out ₹2,700 crore since December last year

2 mins

Rights issues in 2024 yield twice the bounty of last year

Six companies secure ₹1,000 crore+ each as average ticket size doubles

2 mins

Hindustan Zinc mulls special dividend payout of ₹8K crore

Vedanta group firm Hindustan Zinc Ltd (HZL) plans to dole out a special dividend payout of ₹8,000 crore to its shareholders in the current financial year (FY25), according to sources.

1 min

Global stocks, currencies steady on US rate cut hopes

World stocks and currencies steadied on Thursday after weeks of wild swings, as data suggesting US rate cuts were imminent soothed some of the damage inflicted on markets this summer by a shock Bank of Japan rate hike and economic growth scares.

1 min

Max Life Insurance pencils in 100-200-bp hit to profit

Max Life Insurance, a private insurer, expects a 100-200-basis point (bp) impact on its value of new business (VNB) margin due to revised surrender value norms, said Prashant Tripathy, managing director and chief executive officer, during an analyst call on Wednesday.

1 min

Manappuram sees NPAs falling this FY

After witnessing rise in stress on loan book in Q1FY25, Manappuram Finance Ltd (MFL) expects gradual reduction in non-performing assets (NPAs) in the remaining part of the financial year as borrowers resume clearing old dues and pay regular instalments.

1 min

Mid-tier banks enter the great deposit chase

Launch special schemes to boost fund base

1 min

DIGITAL DEFICIT

Regional rural banks are losing ground to commercial banks amid tech challenges. Should they merge with their parents?

5 mins

A new recipe

Dhabas to whet tourists' appetite in Uttar Pradesh

2 mins

Is India Olympics-Ready? PM Exudes Confidence

Modi says India making 'significant progress' towards 2036 Games bid; however, only 10% of sports infra meets Olympic standards now

3 mins

Bengal Guv Condemns Violence, CM Slams Oppn

West Bengal Governor CV Ananda Bose on Thursday termed the vandalism at RG Kar Medical College and Hospital a "shame to civil society," while Chief Minister Mamata Banerjee blamed the "CPI(M)-BJP" for the incident, amid a week of protests by junior doctors over the alleged rape-murder of a doctor.

2 mins

Central Asia gives IndiGo its wings

Central Asia-including Kazakhstan, Uzbekistan, Azerbaijan, and Georgiahas emerged as a top destination for Indian travellers seeking affordable international holidays, especially as Europe becomes increasingly expensive and visa processes slow down.

2 mins

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