Financial Express Mumbai - January 24, 2025
Financial Express Mumbai - January 24, 2025
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January 24, 2025
Govt seeks app store presence
Apple, Google requested to pre-install welfare scheme apps on mobiles
2 mins
Amazon Web to Invest $8.3 Billion
Signs MoU for cloud infra in Maharashtra
1 min
Trump Urges Lower Oil Prices, Rate Cuts
Reiterates tariff threat to bring manufacturing back to the US
2 mins
Special fund for MFIs in the works
IN A MOVE aimed at stimulating the growth of microfinance and populating the sector with hundreds of more players, the government may unveil a special fund to give equity support to the sector in the Budget for FY26.
2 mins
57% Taxpayers Seek I-T Rate Cuts
Around 57% of the taxpayers in a recent survey want lower tax rates and higher exemptions in the coming Budget.
1 min
West Asia and North Africa Top Market for Engineering Exports
WEST ASIA AND North Africa (WANA) emerged as the biggest buyer of engineering products from India for the first time ever in December, pushing North America to the second slot, the commerce ministry data showed.
1 min
Small tea growers for curbs on substandard imports
SMALL TEA GROWERS (STGs) have urged the Union commerce ministry to take steps to curb import of substandard crop from countries like Kenya and Nepal and protect the domestic industry.
1 min
LNG imports to fall in 2025 as demand moderates: IEA
INDIA'S IMPORT OF LNG (liquified natural gas) is expected to decline in 2025 on the back of moderating demand and continued competition for LNG cargoes internationally, as per the International Energy Agency.
1 min
IRCTC Teams Up With ITC, Tata Group, Harvest Gold To Revamp Food Catering
INDIAN RAILWAYS' CATERING, ticketing and hospitality arm IRCTC has tied up with ITC, Tata Group and Harvest Gold to revamp its food offering. This follows the collaboration with food aggregating platform Zomato announced in September last year.
1 min
Package likely to ramp up pulses & oilseeds output
Govt keen to rein in imports of these items by boosting domestic production
3 mins
Oil buyers pull all levers to replace Russian imports
OIL REFINERS ARE reaching for all available options in the rush to make up for Russian flows hit by Washington's latest round of sanctions, turning to the spot market while simultaneously seeking more long-term supplies from West Asian producers.
1 min
In hiding, Awami League leaders connect with Hasina
THEIR BANK ACCOUNTS FROZEN, MANY RELATIVES ARRESTED
3 mins
After NSA, foreign secretary to visit China on January 26-27
MOVING TO RESUME bilateral engagements after the disengagement at the India-China border, foreign secretary Vikram Misri will travel to Beijing on January 26-27 for a meeting of the \"foreign secretary-vice minister mechanism between India and China\".
1 min
Maruti Suzuki cars to cost more from Feb 1
MARUTI SUZUKI INDIA on Thursday said it will hike prices by up to ₹32,500 across various models from February 1 to partially offset the rise in input costs.
1 min
NCLAT Stays CCI's 5-Year Antitrust Ban
Directs Meta to Deposit 50% of ₹213-Cr Penalty
2 mins
UltraTech Cement Q3 profit at ₹1,473.51 cr; stock surges 7%
ADITYA BIRLA GROUP firm UltraTech Cement on Thursday reported a consolidated net profit of ₹1,473.51 crore for the third quarter ended December 31, 2024.
1 min
HUL to give beauty business a glow-up with new strategy
THE COUNTRY'S LARGEST consumer goods company, Hindustan Unilever (HUL), has put in place a four-pronged strategy to grow its beauty and wellbeing business, created in April last year.
2 mins
AI, Gen AI, & ML models power wealthtech platforms
THE WEALTH MANAGEMENT landscape is undergoing a change as wealthtech startups leverage cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and generative AI (GenAI).
2 mins
Zee Q3 profit jumps 180%; revenue falls
ZEE ENTERTAINMENT ON Thursday reported a 179.7% year-on-year rise in its consolidated net profit at ₹163.6 crore for the third quarter of the financial year 2024-25 (Q3FY25).
1 min
Infra.Market Raises $126 Million
CONSTRUCTION MATERIALS SOLUTIONS firm Infra.Market has successfully raised approximately $120 million (₹1,050 crore) in its pre-IPO funding round, according to sources aware of the matter.
1 min
Mphasis posts modest Q3 revenue growth
MPHASIS REPORTED A sequential revenue growth of 0.8% to ₹3,561.3 crore and a net profit of ₹427.9 crore, up 1.1%, for the quarter ended December.
1 min
HPCL Consolidated Profit in Q3 Surges 257% to ₹2,544 cr
HINDUSTAN PETROLEUM CORP Ltd on Thursday reported a surge of 256.8% year-on-year in its consolidated net profit for the December quarter of FY25 at ₹2,543.65 crore from ₹712.84 crore in the year ago period.
1 min
CCPA Notices to Ola, Uber Over Price Disparity Complaints
The Consumer Protection Authority (CCPA) has issued notices to tech giant Apple and cab aggregators Ola and Uber following consumer complaints about software performance and pricing disparities, Consumer Affairs Minister Pralhad Joshi said on Thursday.
1 min
Luxury car sales facing China hurdle: Tatas
JAGUAR LAND ROVER's owner, Tata Motors, said profitability is being hurt by economic challenges in China, a market where weak demand and consumer preference for electric vehicles is curbing sales of traditional top-end cars.
1 min
80% firms struggle to find talent: Survey
DESPITE A STRONG global hiring outlook, Indian employers are expecting a cautious first quarter of 2025 due to ongoing talent shortages, according to the ManpowerGroup Talent Shortage Survey.
1 min
Indus Towers to foray into EV charging infrastructure
Indus Towers has launched pilot electric-vehicle charging stations at two locations, it said on Thursday, amid the country's growing push to adopt the environmentally cleaner models.
1 min
New probe ordered into Foxconn hiring
THE COUNTRY'S POWERFUL human rights watchdog has admonished labour officials for failure to adequately investigate evidence of employment discrimination at Foxconn, which makes Apple iPhones, and told them to re-examine the matter, documents show.
1 min
Deposits lag credit growth in fortnight to January 10
Banks’ deposits lagged credit growth for the fortnight ended January 10, according to the latest data released by the Reserve Bank of India.
1 min
Ujjivan SFB Q3 profit slumps 64% to ₹109 cr
UJJIVAN SMALL FINANCE Bank on Thursday reported a 64% decline in its net profit to ₹109 crore for the third quarter amid a spike in bad loan provisions and higher interest expenses.
1 min
Kotak Bank Acquires StanChart's ₹3,330-Cr Personal Loan Portfolio
KOTAK MAHINDRA BANK on Thursday said it has completed the acquisition of the ₹3,300-crore personal loan book of Standard Chartered Bank India following regulatory approvals.
1 min
Now, Equities Need Domestic Investors More Than Ever
THE EQUITY MARKET'S reliance on domestic investors has never been greater as unabated foreign fund selling and rising global volatility dent the appeal of local shares.
1 min
HDFC Bank expects improved CASA ratio with easing in rates
HDFC BANK EXPECTS its current account savings account (CASA) ratio to improve as interest rates are likely to soften, Sashidhar Jagdishan, managing director and CEO, said in an analyst call on Thursday.
2 mins
Rupee falls 13 paise tracking Asian peers, dollar demand
THE RUPEE ENDED 13 paise down against the dollar to 86.46 on Thursday due to a decline in the most regional currencies and demand for dollars from foreign banks, said forex traders.
1 min
Rising competition from global banks may lower pricing on loans: Barclays
A RENEWED PUSH by Japan's major banks and other global lenders in India is driving down loan prices with the new players having more appetite for riskier credit, according to the country head for Barclays Plc.
1 min
$100-bn court challenge for Goldman and friends
Banks are used to fending off litigation. Goldman Sachs Group's most recent annual report includes 14 pages of fine print detailing all the proceedings it faces. But the defendant has turned plaintiff.
3 mins
It's raining handouts
Political parties must avoid reducing elections to one-upmanship on freebies
2 mins
Time for India to break Out Of AI slumber
The US-led restrictions on AI technology access should serve India a wake-up call to prioritise the technology as a national security imperative
4 mins
Setting a cat among the pigeons
THE WORLD SHOULD EXPLORE NIMBLE, COST-EFFECTIVE OPTIONS TO THE STARGATE APPROACH
4 mins
In the grey zone
Meta's fact-check roll-back can upend contextual ads
3 mins
Real Madrid Is First Club To Top $1-Bn Revenue
REAL MADRID BECAME the first soccer team to register one billion euros ($1.04 billion) in revenue in a single season in 2023-24, with the Spanish side topping the Deloitte Football Money League as the world's highest revenue-generating club once again.
1 min
Gaza ceasefire puts Netanyahu in tough spot
Even before it was signed, the Gaza ceasefire forced Israeli Prime Minister Benjamin Netanyahu into a tight spot - between a new US president promising peace and far-right allies who want war to resume.
1 min
Meta's revised paid ad-free service may breach EU privacy regulations
META PLATFORMS' REVISED no-ads subscription service may still breach EU consumer and privacy laws in addition to antitrust rules, the European Consumer Organisation (BEUC) said on Thursday as it urged regulators to act against the U.S. tech giant.
1 min
This Chinese AI startup is taking on Silicon Valley giants
THE DAY AFTER Christmas, a small Chinese start-up called DeepSeek unveiled a new AI system that could match the capabilities of cutting-edge chatbots from companies like OpenAI and Google.
2 mins
Emilia Perez Leads Oscars Race With 13 Nominations
NETFLIX'S SPANISH-LANGUAGE musical Emilia Perez topped the list of movies nominated on Thursday for Academy Awards, followed by The Brutalist and Wicked.
1 min
Invest in stocks: China to insurers
CHINA IS GUIDING local mutual funds and insurers to boost their stock purchases in the government's latest initiative to shore up its ailing equity market as it confronts the threat of higher tariffs.
1 min
Musk, Altman spar over $100-bn AI venture hyped by Prez Trump
ELON MUSK OPENLY questioned whether companies that joined President Donald Trump's announcement promising hundreds of billions of dollars in artificial intelligence infrastructure could follow through on their promises, exposing an early internal rift within the White House.
1 min
Economic fragmentation: Global GDP could drop by up to $5.7 trn
GROWING GEO-ECONOMIC FRAGMENTATION can decrease global GDP by up to $5.7 trillion, giving it a bigger blow than the financial crisis of 2008 or the Covid pandemic, the Navigating Global Financial System Fragmentation report showed on Thursday.
1 min
AWS to expand data centre in Telangana, invest ₹60,000 cr
AMAZON WEB SERVICES (AWS) will invest ₹60,000 crore to expand its data centre infrastructure in Telangana, state government said.
1 min
Call Grows for Action on AI, Reforms
LEADERS FROM VARIOUS countries called for action on artificial intelligence and reforms at the WEF meeting.
1 min
On new Isro chief's table: 100th launch
AFTER THE HISTORIC space docking experiment, the Indian Space Research Organisation (Isro) is getting ready for another milestone, its 100th launch, that is set to happen at the end of the month.
2 mins
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