Financial Express Mumbai - December 20, 2024
Financial Express Mumbai - December 20, 2024
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In this issue
December 20, 2024
Unregulated lenders could face up to 10 yrs in prison
DRAFT BILL FLOATED
2 mins
MARKETS FED UP
Forecast of fewer rate cuts pulls down indices | Rupee breaches 85; bond yields up 4 bps
2 mins
Adani did not remit savings from India tax break it got: Bangla govt
BANGLADESH'S INTERIM GOVERNMENT has accused Adani Power of breaching a multi-billion-dollar energy supply agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters.
1 min
Health insurance cover for OPD expenses to rise, says official
MORE HEALTH INSURANCE companies would start offering insurance cover on outpatient department (OPD) expenses, said Kiran Gopal Vaska, joint secretary and mission director (Ayushman Bharat Digital Mission) at the National Health Authority (NHA).
1 min
Niti suggests dormitory beds for factory workers at ₹2,000 a month
WITH INDIA REQUIRING 25 million beds for industrial workers in the next decade, a Niti Aayog report on Thursday suggested lower property tax, power and water tariffs to provide dormitory beds at an affordable cost of ₹2,000/month under the public-private partnership (PPP) model near factory sites.
1 min
Highway infra trust to raise ₹15,000 cr; halts bond sale plan
The National Highways Infrastructure Trust (NHIT), promoted by the National Highways Authority of India (NHAI), will raise around ₹15,000 crore through a mix of debt and equity for acquisition of the next round of assets in the next two months, a senior official said.
1 min
Curb subsidies to build critical infrastructure, RBI tells states
Says too many central schemes undermine cooperative federalism
2 mins
Road assets in InvITs to soar 70% in FY26
ASSETS UNDER MANAGEMENT (AUM) of infrastructure investment trusts (InvITs) in the road sector are poised to surge to ₹3.2 lakh crore by the end of 2025-26 from ₹1.9 lakh crore in September this year, according to a report by Crisil Ratings.
1 min
'EV market to touch ₹20L cr by 2030'
Has potential to create 50 million jobs, says Nitin Gadkari
2 mins
No sugar exports for now: Official
Industry urges govt to allow 2 MT of shipments
1 min
UK PM hosts Indian business leaders to boost investments
UK PRIME MINISTER Keir Starmer hosted a delegation of 13 Indian companies at 10 Downing Street in London, with the British government describing it as a \"curated visit\" to enhance bilateral partnership and boost investments.
1 min
First trade data review since 2011 likely
IT COULD BE a throwback to 2011 for the commerce ministry as it is having a relook at gold import data for November.
1 min
Push for local solar cells may raise project costs
THE GOVERNMENT'S DECISION to include solar cells in the Approved Lists of Models and Manufacturers, though it will be implemented from June 1, 2026, may in the short term inflate delivered costs of domestic modules, drive up the capital cost of projects, and affect timelines, analysts say.
1 min
DoT asked to diversify revenue streams
THE STANDING COMMITTEE on communications and information technology has asked the department of telecommunications (DoT) to diversify its revenue streams from the telecom sector to increase the government's revenue without burdening the industry excessively.
1 min
CCI conducts raids on liquor majors AB InBev, Pernod
THE COMPETITION COMMISSION of India (CCI) has raided some offices of alcohol giants Pernod Ricard and Anheuser-Busch InBev as it investigates accusations of price collusion with retailers in Telangana, sources familiar with the matter said.
1 min
Startups fire fewer employees, ramp up hiring in 2024
WITH FUNDING SHOWING signs of recovery, startups seem to be bouncing back. Layoffs by startups have dropped sharply in 2024 and hiring is also on the rise, data from layoffs.fyi showed.
1 min
MTNL to get BSNL support for assets
Services in Delhi & Mumbai to be managed by BSNL
2 mins
Nestle: Swiss withdrawal of MFN status to not affect ops
NESTLE INDIA HAS clarified that the suspension of the most favoured nation (MFN) clause granted to India by Switzerland will not affect its operations.
1 min
Accenture lifts FY25 growth forecast; Q1 revenue up 8%
Wipro, Infosys ADRs trade up
2 mins
IPO-bound Rebel Foods raises funds from KKR
IPO-BOUND CLOUD kitchen firm Rebel Foods said on Thursday that global investment firm KKR has acquired a stake in the kitchen operator.
1 min
Airtel prepays ₹3,626 cr to DoT
Clears dues for spectrum auction held in 2016
1 min
AI orders 34 trainer aircraft
AIR INDIA HAS placed an order for 34 trainer aircraft for its upcoming Flying Training Organisation (FTO) in Amravati, Maharashtra.
1 min
JSW Infra outlines ₹30K-cr capex plan
Leveraging Navkaro acquisition, says company
1 min
Zetwerk's GMV rises 35% to ₹17,564 cr
CONTRACT MANUFACTURING STARTUP Zetwerk on Thursday said it has achieved a gross merchandise value (GMV) of ₹17,564 crore in FY24, reflecting a 35% growth from the ₹13,050 crore GMV recorded in the previous fiscal.
1 min
Micromax partners Taiwan firm
HOMEGROWN CONSUMER ELECTRONICS company Micromax has entered into a joint venture with Taiwan-based Phison to design and manufacture storage chips or solid-state drives (SSDs) in the country.
1 min
Auto Expo: Missing brands to return
INDIA'S PREMIER AUTOMOTIVE event, the Bharat Mobility Global Expo, will begin on January 17 with a record-breaking lineup of brands, including several returning participants.
1 min
Kia unveils Syros, aims to raise market share to 20%
KIA INDIA ON Thursday introduced the Syros, a new sub-4-metre SUV, which the company expects will increase its market share in the compact SUV segment from 15% to 20%.
1 min
Currencies tumble, few attempt rebound
THE DOLLAR SLIPPED on Thursday, a day after surging to a two-year peak after the Federal Reserve rocked markets by signaling a much slower pace of rate cuts in 2025, while the yen slid after the Bank of Japan (BOJ) stood pat on rates.
1 min
Stocks, bond prices on slippery slope
STOCKS AROUND THE world fell on Thursday, while the 10-year US Treasury yield rose to its highest since May, a day after the Federal Reserve said it would temper the pace of rate cuts, kicking off a busy 24 hours for other central banks.
1 min
Silver lining for Dr Reddy's
Share prices jump over 4% on upgrade by Nomura
1 min
Dalal Street joins global sell-off
JOINING THE GLOBAL equity sell-off following the US Federal Reserve's hawkish surprise of fewer rate cuts in 2025, benchmark indices fell 1% on Thursday, marking their fourth consecutive session of decline.
1 min
Bond yield at 3-week high
THE BOND YIELDS jumped on Thursday, with the benchmark yield ending at a three-week high, after the US Federal Reserve flagged a slower pace of policy easing in 2025, citing sticky inflation and a stable labour market.
1 min
Re breaches 85 mark
Barclays strategist sees it falling further to 87 by next year end
1 min
US Congress has two days to avert shutdown after Trump rejects Bill
THE US CONGRESS has two days to avert a partial government shutdown after Republican President-elect Donald Trump rejected a bipartisan deal late on Wednesday and demanded lawmakers also raise the nation's debt ceiling before he takes office next month.
1 min
BoJ holds rates too
THE BANK OF Japan kept interest rates unchanged on Thursday and its governor offered few clues on how soon it could push up borrowing costs, sending the yen and bond yields tumbling on fresh doubts over the near-term chances of a rate hike.
1 min
Russia ready to compromise with Trump on Ukraine: Putin
RUSSIAN PRESIDENT VLADIMIR Putin said on Thursday that he was ready to compromise over Ukraine in possible talks with US President-elect Donald Trump on ending the war and had no conditions for starting talks with the Ukrainian authorities.
1 min
'Fed cannot hold bitcoin, not seeking to change that'
FEDERAL RESERVE CHAIR Jerome Powell said on Wednesday the US central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin.
1 min
Riksbank cuts rate by 25 bps, Brazil cenbank raises outlook
SWEDEN'S RIKSBANK ON Thursday lowered its benchmark interest rate by 25 basis points and signaled its easing campaign is likely to be wrapping up with one cut left to deploy.
1 min
Bought for billions, selling for peanuts
M&A DEALS SLOWLY PICKING UP Annual tally tops $3 trillion again as bankers eye fresh boost from Trump
2 mins
Powell signals Fed's focus is back on inflation
FEDERAL RESERVE OFFICIALS capped 2024 with a third-straight interest-rate cut and a strong signal that inflation concerns are back in the fore.
1 min
BoE keeps rates steady, but members split on decision
GRADUAL APPROACH
1 min
Better late than never
The retail frenzy for SME IPOs and rising cases of frauds forced Sebi's hand
2 mins
AI robots are coming, and they'll be made in Asia
OVER THE PAST year, I've noticed an overwhelming theme emerge when Asian tech leaders look at what comes next for artificial intelligence.
3 mins
Radical Overhaul Of Shipping Laws
A LEGISLATIVE REWORKING OF THE SHIPPING SECTOR WILL REQUIRE POLICY SUPPORT
3 mins
'Focus on product differentiation; consumer loyalty will follow'
Q-COMMERCE IS CONTRIBUTING TO OUR ONLINE SALES GROWTH. IN FACT, IT'S BECOMING VERY MEANINGFUL, VERY FAST\"
3 mins
Campaign's relatability adds charm to storytelling
Why the campaign rocks:
1 min
MPs of ruling alliance, Oppn clash, 2 from BJP in hospital
CHARGES FLY AFTER UGLY SCENES IN PARLIAMENT
1 min
Book Rahul Gandhi for assault: BJP to police
The showdown on the premises of Parliament on Thursday reached police within hours with the BJP accusing Rahul Gandhi, Leader of Opposition in Lok Sabha, of \"physical assault\" and \"incitement\" while the Congress, in a counter-complaint, alleged that BJP MPs caused injuries to Mallikarjun Kharge, Leader of Opposition in Rajya Sabha, by pushing him to the ground.
1 min
Hyundai to equip product range with Amaron batteries
HYUNDAI MOTOR INDIA on Thursday said it will equip its domestic product line-up with Amaron's battery technology.
1 min
HDFC Securities sets Nifty target at 26,482 for 2025
HDFC SECURITIES EXPECTS 2025 to be a difficult year amid high valuations, with the benchmark Nifty 50 index likely to rise up to 26,482 points.
1 min
India's job market poised for 9% growth in 2025
RETAIL, TELECOM & BFSI TO LEAD HIRING: FOUNDIT
1 min
State-run firms commit big investments in Bihar
THE BIHAR BUSINESS Connect 2024 summit evinced huge corporate response on Thursday with some top state-run firms making major investment announcements, including the plan to establish a maiden nuclear power project in the state.
1 min
Mumbai and Dubai top travel searches: Report
MUMBAI AND DUBAI emerged as top searches for travel destinations and visa-free travel like Almaty and Kenya became traveller favourites in 2024, a fintech firm One97 Communications - owner of Paytm brand said on Thursday.
1 min
India-Pak ICC matches at neutral venues
THE DEADLOCK OVER the hosting of next year's Champions Trophy finally ended on Thursday when the ICC announced that India will play their matches of the 50-over event at a neutral venue instead of host country Pakistan, which will get a similar arrangement for tournaments to be held in India till 2027.
1 min
Apple concedes smartwatch market leadership to Huawei
CHANGING DYNAMICS OF WEARABLES INDUSTRY
1 min
Bollywood's investments in startups decrease sharply to $3.6 mn in 2024
Investments by Bollywood celebrities in startups came down sharply in the current calendar year to $3.6 million against $28.5 million last year, data shared by Tracxn showed.
1 min
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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