Financial Express Bengaluru - December 25, 2024
Financial Express Bengaluru - December 25, 2024
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December 25, 2024
Mining sector gets a leg-up, import reliance down
INDIA'S MINING INDUSTRY took a long stride this year supported by government policies in the critical minerals mining as it intends to boost domestic production, reducing dependency on imports and helping in realising the renewable energy targets.
3 mins
Unincorporated sector generates 11 mn jobs
SMALL FIRMS MAKE BIG CONTRIBUTION
2 mins
Rabi sowing a tad below last year's level; oilseed cultivation down 5.5%
WITH JUST A few weeks left for the rabi season to be over, sowing of winter crops such as wheat, pulses, oilseeds, and coarse cereals has been a tad below last year's level so far as the area under oilseeds have declined.
1 min
Household liabilities rise to 6.4% of GDP in FY24
THE COUNTRY'S ECONOMIC growth trajectory will likely pick up in the second half of the current financial year, driven by domestic private consumption and a sustained revival of rural demand, the Reserve Bank of India (RBI) said in its monthly bulletin released on Tuesday.
2 mins
Kirana body seeks technology support for e-comm challenge
THE FEDERATION OF Retailer Association of India on Tuesday asked the government to provide enhanced technology platform to Kirana stores to enable them to compete with quick commerce firms.
1 min
Duty-free import of yellow peas till Feb
The government on Tuesday extended duty-free import of yellow peas, used as substitute of chana, for two more months till the end of February, with the aim to curb prices of the key pulses variety.
1 min
Laptop import nods may be tied to capacity growth
BOOSTING DOMESTIC MANUFACTURING
2 mins
Exporters draw up plans to raise share in US market
IN ANTICIPATION OF the US going ahead with higher tariffs on Chinese imports, the Federation of Indian Export Organisations (FIEO) has formulated a strategy to raise its share in the US market.
1 min
inDrive eyes last-mile delivery
Plans to leverage logistics expertise
1 min
Coforge working on 30 GenAI use cases in insurance, 10 live
IT SERVICES COMPANY Coforge is actively working on over 30 generative AI (GenAI) use cases within its insurance vertical, with 10 already in production.
1 min
Happiest Minds sees slower FY25 revenue growth
HAPPIEST MINDS TECHNOLOGIES anticipates its revenue growth for fiscal 2025 to be at the lower end of the guided range of 30-35%, Venkatraman Narayanan, managing director and CFO of the company said.
1 min
Gift voucher: Clarity on GST spurs optimism
THE GST COUNCIL'S decision to exempt gift vouchers from indirect taxation has brought much-needed clarity to the retail and corporate sectors, with industry leaders lauding it as a significant step forward.
1 min
Logistics leasing to hit 50 mn sq ft
LOGISTICS & INDUSTRIAL (L&I) real estate leasing volume for 2024 is expected to reach 50-53 million square feet (MSF), marking the third consecutive year with leasing volume exceeding 50 million sq ft, according to a report by property consultant Cushman & Wakefield.
2 mins
Emerging tech sectors stake claim on 600 MHz spectrum
Allocation should not be beyond a point, say telcos
2 mins
IndiQube files draft papers for ₹850-cr IPO
BENGALURU-BASED INDIQUBE, which provides co-working and managed office spaces, has filed its draft papers with the regulator for an initial public offering to raise ₹850 crore.
1 min
SaaS firm LeadSquared looks to turn profitable by FY26
LEADSQUARED, a Bengaluru-based SaaS unicorn, is setting its sights on profitability by FY26, despite past challenges stemming from the downturn in the edtech sector.
1 min
Rise in active mobile users indicates tariff hike absorption
THE INDUSTRYWIDE addition of 6.8 million active users in October 2024 suggests that the industry has more or less absorbed the tariff hikes taken in July this year, experts said analysing the latest telecom subscriber data released by the Telecom Regulatory Authority of India (Trai).
1 min
Swiggy targets 100K female delivery partners by 2030
Swiggy plans to have at least 100,000 female delivery partners by 2030, according to company MD and group CEO Sriharsha Majety.
1 min
Ola enters grocery delivery biz again
THIRD TRY
1 min
Cashify eyes growth with D2C play
Refurbished electronics seller Cashify is aiming for profitability in the next few months by focusing on direct-to-consumer (D2C) sales through its physical stores and website, rather than selling to merchants. This shift in strategy has already yielded significant improvements in margins and reduced losses.
1 min
Rupee hits record closing low for 6th straight session
THE RUPEE WEAKENED to its all-time low for the sixth consecutive trading session on Tuesday as a rise in US bond yields boosted the dollar and strong demand for the greenback from importers added to the lingering pressure on the local currency.
1 min
'Crop, motor, health and commercial to equally contribute to portfolio by FY26'
OUR FOCUS ON THE CROP INSURANCE SEGMENT WILL REMAIN STRONG AS IT IS A KEY GOVERNMENT SCHEME SUPPORTING FARMERS
1 min
Tata Capital listing hopes drive shares of group companies
SHARES OF TATA group companies post gains on Tuesday after reports suggested that the salt-to-software conglomerate has begun the groundwork to list its financial services arm, Tata Capital, through an initial public offering (IPO) of $2 billion or around ₹17,000 crore.
1 min
Deposit mobilisation, rate cut key challenges: Indian Bank MD
THE BANKING INDUSTRY will continue to struggle with deposit mobilisation, maintaining a healthy current account savings account (CASA) ratio and a possible fall in net interest income after reduction in policy rates, said Shanti Lal Jain, MD and CEO of Indian Bank.
2 mins
Lokpal calls Sebi chief, complainants for 'oral hearing' on January 28
ANTI-CORRUPTION OMBUDSMAN LOKPAL has called Sebi chief Madhabi Puri Buch and also complainants, including TMC MP Mahua Moitra, for \"oral hearing\" next month in connection with corruption complaints being heard by it, alleging impropriety and conflict of interest on the basis of a Hindenburg Research report, according to an official order.
1 min
China mulls $411-bn special treasury bonds in 2025
CHINESE AUTHORITIES HAVE agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, two sources said, which would be the highest on record, as Beijing ramps up fiscal stimulus to revive a faltering economy.
2 mins
Honda shares jump over 17%
THE PROPOSED BUSINESS integration of Honda Motor and Nissan Motor is positive overall for the credit quality of the two Japanese automakers, but it carries risks especially for Honda, according to Moody's Ratings.
1 min
Biden to decide on takeover of US Steel
NIPPON STEEL'S PROPOSED $12.3 billion acquisition of US Steel moved a step closer to being blocked after a US national security panel deadlocked on its review and left the final decision with President Joe Biden, who has repeatedly indicated his opposition to the deal.
1 min
Microsoft looks to add non-OpenAI models into 365 Copilot
MICROSOFT HAS BEEN working on adding internal and third-party artificial intelligence models to power its flagship AI product Microsoft 365 Copilot, in a bid to diversify from the current underlying technology from OpenAI and reduce costs, sources familiar with the effort told Reuters.
1 min
Honda-Nissan merger requires time
HONDA AND NISSAN expect big benefits from their potential merger to create the world's third-largest auto group, but intense competition from China raises questions about whether they can make it work in time.
1 min
Downward drift
RBI, which has been intervening in currency markets to prevent a sharp fall in the rupee, must reassess its stance
2 mins
Building rural resilience
Shift in rural incomes, with reduced dependence on pure cultivation, is an encouraging trend that helps pull out excess and disguised labour from the sector
3 mins
The Trump dump
YOU CAN'T BULLY THE MARKET, CERTAINLY NOT WHEN YOU HAVE THE DEEPEST AND MOST LIQUID MARKET
3 mins
Road to relevance
How to craft a brand strategy that stands the test of time
1 min
'Buying jewellery today is akin to fine dining—it's thoughtful & deliberate'
INTERVIEW: SANDEEP KOHLI, CEO, INDRIYA
3 mins
IOC to invest ₹61K cr for Odisha project
STATE-OWNED INDIAN Oil Corporation Ltd (IOCL) will invest ₹61,000 crore to set up a naphtha cracker project at Paradip in Odisha, a statement said on Tuesday.
1 min
18% GST on used EV to be paid on seller's margin
A REGISTERED PERSON will have to pay an 18% Goods and Services Tax (GST) on sale of old and used vehicle only if the seller has earned a margin, which is if the selling price is higher than the depreciation adjusted cost price of the vehicle, official sources said.
1 min
Local satellites push draws 30 aspirants
The applicants for IN-SPACe's latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group's Tata Advanced Systems.
1 min
₹2-cr fine on Deloitte Haskins for Zee audit
In September 2018, the chairman of ZEEL, who is also the promoter of Essel Group of Companies, issued a letter to Yes Bank, and committed ₹200 crore of fixed deposit (FD) of ZEEL as a guarantee for the loans given by the bank to group company Essel Green Mobility.
1 min
Economists for FTAs, land & labour reforms
RCEP was signed by the group of countries in November 2020 except India.
1 min
Labour-intensive exports: Gains likely to be short-lived
India's labor-intensive textile exports are experiencing a surge, but this growth is likely to be temporary due to several factors, including geopolitical instability and the need for long-term competitiveness.
2 mins
EAM in US to boost bilateral ties
IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.
1 min
Walking into a minefield
Even though she made a very strong pitch that funds will move away from the regulated markets towards crypto and similar assets, if bourses don't move towards instantaneous settlement, neither brokers, nor the exchanges made a real effort to back her.
1 min
Net gains: Secured Virat, cautious Rohit gear up
INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.
1 min
Shyam Benegal cremated with full state honours
Veteran filmmaker Shyam Benegal, the pioneer of the parallel cinema movement in Indian cinema in the 1970s and 1980s, was cremated on Tuesday with full state honours and a three-gun salute.
1 min
A middle-class meltdown
Economic shift, stagnating real income post Covid weigh on spending on daily items
3 mins
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