Financial Express Pune - January 24, 2025
Financial Express Pune - January 24, 2025
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In this issue
January 24, 2025
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
IRCTC teams up with ITC, Tata Group, Harvest Gold to revamp food catering
Refurbishing Refreshments
2 mins
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
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
Grade A warehousing mkt to hit 700 mn sq ft
THE LOGISTICS AND industrial real estate sector saw major growth, with Grade A warehousing in eight cities increasing from 88 million sq. ft in 2019 to 238 million sq ft in 2024 (22% CAGR).
1 min
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
NCLAT Stays CCI's 5-Year Antitrust Ban
● Directs Meta to deposit 50% of ₹213-cr penalty
2 mins
AI, Gen AI, & ML Models Power Wealthtech Platforms
PRUDENT DECISION
2 mins
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
Infra.Market raises $126 mn
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
Empowering India's Green Energy Goals Through Innovation and Trust
Lord's Mark Industries Upholds PM's Vision of Surya Ghar: Muft Bijli Yojana
1 min
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
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
Indus Towers to foray into EV charging infrastructure
MOBILE TOWER OPERATOR 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
Amazon Web to invest $8.3 billion
Amazon Web Services (AWS) will invest $8.3 billion in cloud infrastructure in Maharashtra by 2030, creating a pivotal moment for the state's digital economy.
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
New probe ordered into Foxconn hiring
NHRC FAULTS LABOUR OFFICIALS FOR LAX INQUIRY
1 min
Special fund for MFIs...
The combined loan outstanding of the MFIs stood at around ₹1.7 lakh crore as on March 31, 2024. And 60% of this amount has been lent by large MFIs
1 min
80% firms struggle to find talent: Survey
Shortage Across Industries
1 min
OpenAI to Indian court: Can't delete ChatGPT training data
'BREACH OF US LEGAL OBLIGATIONS'
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
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
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
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
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
Now, equities need domestic investors more than ever
Local Funds Emerge As Key Driver
1 min
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
Setting a cat among the pigeons
THE WORLD SHOULD EXPLORE NIMBLE, COST-EFFECTIVE OPTIONS TO THE STARGATE APPROACH
4 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 prioritize the technology as a national security imperative
4 mins
$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 defendant has turned plaintiff.
3 mins
In the grey zone
● Meta's fact-check roll-back can upend contextual ads
3 mins
Fresh wildfire near LA spreads to 10,176 acres, forces evacuations
POWERFUL WINDS AND bone-dry conditions could pose a challenge to firefighters battling new wildfires in southern California on Thursday, including a blaze that swelled over the past day and forced tens of thousands of evacuations north of Los Angeles.
1 min
Invest in stocks: China to insurers
Stocks Jump After Briefing
1 min
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
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
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
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
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
AWS to expand data centre in Telangana, invest ₹60,000 cr
370% rise in sanctions since 2017, along with subsidies
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
Economic Fragmentation: Global GDP Could Drop by Up to $5.7 Trillion
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
On new Isro chief's table: 100th launch
PRIVATELY-BUILT PSLV ROCKET ALSO ON RADAR
2 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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