Financial Express Kolkata - December 10, 2024
Financial Express Kolkata - December 10, 2024
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December 10, 2024
Move to create income, boost 'insurance for all' goal: Modi
BESIDES CREATING INCOME opportunities, Life Insurance Corporation (LIC)'s new scheme to engage 200,000 women across the country to expand its business in three years will further strengthen the 'insurance for all' mission, Prime Minister Narendra Modi said on Monday.
1 min
Pharma cos unfazed by US developments
THE INDIAN PHARMA industry is not worried about the possible benefits for Chinese biotech firms following the exclusion of the Biosecure Act, aimed at blacklisting them, from a key US defence budget Bill.
1 min
Rajasthan investor summit draws ₹35 lakh-cr pledges
LEADING INDIAN CONGLOMERATES and other companies have pledged to make combined investments of more than ₹35 lakh crore in Rajasthan over the next few years under the memoranda of understanding signed with the state government, with the largest commitment of ₹7.5 lakh crore coming from Adani Group.
1 min
Rajasthan investor summit draws ₹35 lakh-cr pledges
LEADING INDIAN CONGLOMERATES and other companies have pledged to make combined investments of more than ₹35 lakh crore in Rajasthan over the next few years under the memoranda of understanding signed with the state government, with the largest commitment of ₹7.5 lakh crore coming from Adani Group.
3 mins
100,000 Bima Sakhis may be enrolled in 12 months
THE STIPENDIARY SCHEME launched by Life Insurance Corporation on Monday to engage women career agents (MCAs) could cost the insurer ₹845 crore in the first year while the new business generated by them is likely to be five-seven times the cost incurred, chairman Siddhartha Mohanty said.
1 min
NHAI raises ₹775 cr through green bonds
THE SPECIAL PURPOSE vehicle of the National Highways Authority of India (NHAI) has raised ₹775 crore through its maiden green bond issue to finance the Delhi-Mumbai Expressway.
1 min
PIT outpaces Budget during April-October, capex shrinks
DURING THE SEVEN months of FY25, personal income tax collections grew at a faster clip of 20.2% on year against the full-year Budget estimates (BE) of 16.1%, reports Saikat Neogi.
1 min
Oppn mulls impeachment resolution against Dhankhar
THE UNEASY RELATIONSHIP
1 min
Soros row: BJP, Cong trade charges
UPROAR OVER BJP's allegations linking top Congress leaders with US-based billionaire investor George Soros-funded organisations involved in \"anti-India\" activities rocked both houses of Parliament which failed to transact any legislative business on Monday, even as both parties traded charges.
1 min
Brookfield India REIT launches QIP issue to raise ₹3,500 crore
BROOKFIELD INDIA REAL Estate Trust on Monday launched its QIP issue to raise up to ₹3,500 crore by issuing shares to institutional investors.
1 min
Mahayuti govt wins trust vote in Maha assembly; Oppn boycotts Guv address
The trust motion, tabled by Shiv Sena MLA Uday Samant and others, was passed by a voice vote on the last day of the 3-day special assembly session
1 min
Delhi flags minorities' plight, Dhaka says internal issue
● India calls for 'constructive' ties, says attacks 'regrettable'
2 mins
Vodafone Idea to raise ₹1,980 cr from parent
VODAFONE IDEA ON Monday said its board has approved the issuance of up to 1.75 billion shares on a preferential basis to two Vodafone Group entities to raise up to ₹1,980 crore.
1 min
Tata Motors, Kia announce price hikes
● Best offers on 2023-made models
2 mins
LG India paid ₹323 cr in royalty to parent in FY24
LG ELECTRONICS INDIA, which filed its offer document last week for a $1.8-billion initial public offering (IPO), paid 2.3-2.4% of sales in royalty to its parent in FY24, totaling ₹323 crore, its draft red herring prospectus (DRHP) showed.
2 mins
First test flight lands at Noida airport
The first test flight, an IndiGo plane, is accorded a customary water salute upon its landing at the Noida International Airport amid ongoing trials, at Jewar in Gautam Buddha Nagar, Uttar Pradesh, on Monday.
2 mins
Jewar land prices may rise by 50% in 6 years
JEWAR, A SMALL town along the Yamuna Expressway, is emerging as one of the fastest-growing real estate micro markets because of the upcoming international airport leading to a 40% appreciation in land prices in the last five years.
1 min
Livguard looks to incur ₹3,360-cr capex in 5 yrs
The energy storage firm plans to raise around ₹1,697 cr-₹2,121 cr in the next financial year, which will be used for increasing production capacity at its new facilities
1 min
BookMyShow FY24 profit rises 28% to ₹109 cr
ONLINE TICKETING PLATFORM BookMyShow's net profit grew 27.6% to ₹108.63 crore in the financial year 2023-24 (FY24) from ₹85.11 crore in the last fiscal year (FY23).
1 min
Zaggle aims to double revenue by next fiscal
● Firm evaluating acquisition opportunities
1 min
MapmyIndia parent to not invest in outgoing CEO firm
CE INFO SYSTEMS, the parent firm of digital maps provider MapmyIndia, said on Monday that it has scrapped plans to invest in a company being set up by its outgoing CEO after receiving investor feedback, with its shares closing 16% higher.
1 min
CCI seeks SC hearing in e-commerce antitrust case
THE INVESTIGATION IS a major regulatory challenge for Amazon and Flipkart in a market where e-commerce sales are set to exceed $160 billion by 2028, up from $57 billion to $60 billion in 2023.
1 min
AI's rise driving demand for computers: Lenovo
ARTIFICIAL INTELLIGENCE (AI), THE transition from Windows 10 to Windows 11, and a lifecycle upgrade following the pandemic is boosting the demand for personal computers (PCs), Ashish Sikka, Lenovo India's director and category head, told FE.
1 min
AI places an order for 100 aircraft
SIX AIRBUS A350-900s have been delivered to Air India and are operational on several domestic and international routes, including Delhi-London.
1 min
Experts say LCR norms to hit banks' NDTL by 200-250 bps
The guidelines, if implemented in their current format, are expected to increase the provisioning, leading to a rise in credit cost for borrowers by at least 400-500 basis points (bps), said analysts.
2 mins
Sebi alerts on risks of unlisted securities trading
The Securities and Exchange Board of India (Sebi) has cautioned investors against platforms that facilitate transactions in unlisted securities of public limited companies.
1 min
FMCG shares weigh heavily on benchmark indices
Sensex, Nifty drop for second session; GCPL, HUL, Dabur, Marico decline 3%
1 min
A solution in search of a problem
While the idea of a BRICS currency is a powerful negotiating tool in challenging dollar dominance, there are more long-term solutions
3 mins
Crypto doesn't deserve a tax exemption
I AM (MOSTLY) bullish on crypto and (usually) sceptical of higher taxes, especially on capital gains. So why do I think it would be wrong to make crypto assets exempt from capital gains taxes, as President-elect Donald Trump's administration is reportedly considering?
3 mins
Globalisation and India
VOLATILE GEOPOLITICAL REALITIES DO NOT AUGUR THE END OF GLOBALISATION
4 mins
A new beginning
As he begins his term as RBI governor, Malhotra has to fill the big shoes of Das who has done a tremendous job
2 mins
CEAT: Focus on off-highway tyres
Camso deal to also strengthen company's portfolio in tracks
1 min
Optimistic outlook for Godrej Consumer
The management anticipates mid-single-digit revenue growth with Ebitda margins below the normal range of 24-27%
2 mins
Tata Power: Focus on green energy growth
● Solar manufacturing, rooftop EPC projects to be key drivers
1 min
CVC offers to buy software firm in $1.2-billion deal
SHARES IN GERMAN healthcare software provider CompuGroup Medical surged 30% on Monday after the company said investor CVC Capital Partners has offered to acquire it and take it off the stock exchange.
1 min
Sanjay Malhotra to succeed Shaktikanta Das as next RBI governor
While the growth in gross domestic product (GDP) plunged to a seven-quarter low of 5.4% in the second quarter of the current fiscal and demand looked weak, the RBI maintained its \"neutral\" stance.
2 mins
South Korean prez barred from travelling abroad
SOUTH KOREAN PRESIDENT Yoon Suk Yeol has been banned from leaving the country over a failed attempt at imposing martial law, a justice ministry official said on Monday, amid growing calls for him to step down and a deepening leadership crisis.
1 min
Gallagher to buy Assured Partners in $13.45-bn deal
ARTHUR J GALLAGHER said on Monday it would acquire insurance broker Assured Partners in an all-cash deal worth $13.45 billion, as it looks to bolster its focus on property and casualty and employee benefits across the U.S.
1 min
Policy shift spurs surge in stocks, bond
STOCKS JUMPED AND China's government bonds rallied after the Politburo shifted its monetary policy stance to imply more easing is coming, mirroring moves made in previous crises.
1 min
Chipmaker Nvidia faces Chinese probe
CHINA ON MONDAY said it has launched an investigation into Nvidia Corp over suspected violations of the country's anti-monopoly law, in a move that will likely be seen as a retaliatory move against Washington's recent chip curbs.
1 min
China signals bolder stimulus as Trump returns to power
● Shift from 'prudent' strategy to come after 14 years
1 min
India monitoring Syria situation, calls for stability
A DAY AFTER rebel forces overthrew President Bashar Assad's authoritarian government in Syria, India on Monday joined leading nations to call for stability and preserve the unity, sovereignty and territorial integrity of the Arab nation.
1 min
IT sector hiring may grow 20% in 2025
THE IT SECTOR, which is on the path of recovery, is expected to witness 15-20% growth in job opportunities across various industries in 2025, talent solutions company NLB Services said.
1 min
MFI disbursals drop 10% in Q2 as credit quality takes a hit
DISBURSEMENTS BY MICROFINANCE institutions dropped by more than 10% in the July-September period compared to the year-ago period as the industry started witnessing stress on asset quality, according to data shared by a self-regulatory organisation.
1 min
FY25 Budget shows ways to build an efficient workforce
OUR NATION CONSTANTLY offers us opportunities, both as private citizens and businesses, to shape its growth trajectory.
3 mins
Omnicom takes aim at Big Tech, AI with $13-bn Interpublic deal
OMNICOM GROUP HAS struck a $13.25 billion all-stock deal to buy rival Interpublic, creating the world's largest advertising agency as traditional players look to better compete with Big Tech firms amid accelerating use of AI.
1 min
SVOD audience falls 2% in India: Report
INDIA'S SUBSCRIPTION VIDEO-ON-DEMAND (SVOD) audience base has witnessed a slight decline, dropping by 2%, from 153 million in 2023 to 150.6 million in 2024, according to The Ormax SVOD Audience Report: 2024.
1 min
Verdict is clear: Mega merger unlikely to threaten WPP's stupendous lead in India
Globally, Omnicom is the bigger of the two partners; but in India, IPG is at least three times larger than Omnicom, and WPP is double the size of IPG
2 mins
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