CATEGORIES

Sebi likely to relax AIF norms

● Participants asked to adopt accredited investors concept

Platform proposed for tracking unclaimed mutual fund folios

BRINGING BACK TO LIFE

RBI lifts curbs on two Edelweiss Group entities

The Reserve Bank of India (RBI) on Tuesday lifted the restrictions imposed on Edelweiss Asset Reconstruction Company (EARCL) and ECL Finance, effective immediately, after the companies engaged with the regulator on remedial measures.

Sebi names auditor to examine TARC's finances during FY21-23

CAPITAL MARKET REGULATOR Sebi has appointed a forensic auditor to look into financial statements of New Delhi-based real estate company TARC for FY21-23, citing a disclosure by the company which may have been 'detrimental to the interest of investors'.

Developers go slow on home launches

NEW SUPPLY OF residential units remained relatively tepid in 2024 compared to 2023, mainly due to election-related approval delays in H1 and state elections in H2.

Airline gets DGCA show-cause notice

AVIATION REGULATOR DGCA has issued a show-cause notice to Akasa Air for violation of norms related to the airline's operations manual, according to sources.

Daikin India forms JV with Taiwan firm

DAIKIN INDIA, THE Indian subsidiary of Japan's Daikin Industries, on Tuesday announced that it has formed a joint venture with Taiwanese AC compressor maker Rechi Precision to manufacture, design and sale of rotary compressors.

Cult.fit's revenue rises in FY24; loss remains flat

FITNESS-TECH PLATFORM CULT.FIT recorded a 33.6% increase in operating revenue, reaching ₹927 crore in FY24 compared to ₹694 crore in the previous fiscal year.

Safety is priority, says Akasa Air CEO

ASSERTING THAT AKASA Air is an employee-centric organisation, its CEO Vinay Dube has said the airline always works on improving its very high safety standards, amid some pilots flagging concerns about alleged training and safety issues.

Automotive Axles shareholders vote against RPT with Meritor

THE MINORITY SHAREHOLDERS of Automotive Axles, a Kalyani Group company, have rejected the resolution to approve material-related party transactions with Meritor HVS (India) with around 79.47% of the votes against the move and 20.53% in favour.

Sanghi & Penna to merge with Ambuja

SEPARATE SCHEMES OF ARRANGEMENT ANNOUNCED

ITC to demerge hotel business on January 1

CIGARETTES-TO-FOODS CONGLOMERATE ITC has finalised January 1, 2025, as the effective date for the demerger of its hotel business, following receiving an order from the National Company Law Tribunal (NCLT), the company said on Tuesday.

Maruti first carmaker to produce 2 mn units in a year

MARUTI SUZUKI ON Tuesday said it has become India's first original equipment manufacturer (OEM) to produce two million vehicles in a calendar year.

Ola tests 10-min food delivery service in Bengaluru via ONDC

OLA CONSUMER HAS begun testing 10-minute food delivery services in select areas of Bengaluru through the Open Network for Digital Commerce (ONDC) network.

Big Tech may have to pay more for SMSes in India

● Trai's definition identifies their traffic as international

Blackstone expects 5X growth in India data centre capacity

GLOBAL FUND HOUSE Blackstone expects at least fivefold growth in its data centre capacity in India in the coming years, fuelled by the adoption of cloud, 5G, and data protection in the country.

Blackstone's Mphasis deal rescues PE firms

● Venture capitalists double earnings to $4.06 billion

One nation, one poll Bills introduced in Lok Sabha

● 269 vote for and 198 against their introduction

NHPC aims to have installed capacity of 50 GW by 2047

A state-run hydropower company, NHPC, plans to raise its total installed capacity to 23 gigawatts (GW) by 2032 from its current capacity of 7.2 GW.

Ahead of talks with Doval, China ready to enhance mutual trust

As National Security Advisor Ajit Doval reached Beijing for talks on Wednesday between the Special Representatives of the two countries, China said Tuesday it is ready to work with India to \"deliver on important common understandings reached between our two leaders\" and \"enhance mutual trust and mutual confidence\".

Q2 a blip, growth to pick up again: FM

The economic growth slowdown in the second quarter of the current financial year was a blip due to a slower pace of spending, but the coming quarters will likely see healthy growth, finance minister Nirmala Sitharaman said on Tuesday.

CBDT issues fresh FAQs on tax dispute resolution

THE CENTRAL BOARD of Direct Taxes (CBDT) on Tuesday published a fresh set of FAQs on the Direct Tax Vivad se Vishwas scheme in response to additional queries received by it.

DHL, 2 more shortlisted for e-comm export hubs

● Initial centres will come up in Mumbai, Delhi and Bengaluru

No more duty-free import of items for solar power: CBIC

TO PUSH DOMESTIC manufacturing, the government has withdrawn a scheme which permitted duty-free import of goods for solar power generation.

LG eyeing up to $15 billion valuation for India unit IPO

LG Electronics is considering increasing the valuation of its Indian unit to as much as $15 billion in a planned listing in Mumbai next year after initial feedback from analysts and investors, according to people familiar with the matter.

Pakistan cuts interest rates to lowest in over 2 years

PAKISTAN'S CENTRAL BANK cut its key policy rate by 200 basis points to 13% on Monday, it said in a statement, its fifth straight reduction since June to revive a sluggish economy.

Dabur to leverage new launches

Plans to acquire new customers, boost order frequency

Long-term outlook positive for cement sector

CEMENT SPREADS INDICATE a slight improvement amid stable cement prices.

The Swiss confusion

Constantly varying interpretations of treaty provisions can potentially dent India's image

Urban growth takes a toll

TOLLING IN WHAT HAVE BECOME ARTERIAL ROADS IN CITIES GETS A PUSHBACK FROM CITIZENS