CATEGORIES

Coal to the rescue in asset monetization

As several ministries have been lagging in their progress on asset monetization, the coal ministry which has surpassed its targets, has been asked to now try and make up part of the targets missed by other ministries, said two people aware of the development.

Dumping duty unlikely on Indonesian viscose

The Union finance ministry may not impose anti-dumping duty (ADD) on viscose staple fibre (VSF) from Indonesia as it may worsen the shortage of the key raw material for India’s textile industry, two people aware of the development said.

Musk move to monetize Twitter's blue check riles celebrities

Twitter Inc.’s plan to remove legacy blue check marks for verified accounts heralds an end to a longtime social-media status symbol and is prompting complaints from some of the platform’s celebrity contributors concerned about potential impersonation.

Backstop corpus for debt funds may grow in future

A ₹33,000-crore backstop proposed by the market regulator to support debt mutual funds at times of liquidity freeze is only an initial corpus, and it could be topped up in future, said a key executive at the fund that will manage this facility.

Atomberg nears raising $90 mn in round led by Temasek, others

Global venture capital fund Steadview Capital and Singapore's state investor Temasek has agreed to lead a $90 million (about ₹700 crore) investment in Atomberg Technologies Ltd, three people aware of the development said.

Milk may stay on boil due to cattle, fodder shortage

Milk prices, which have been rising steadily in the past year, may hit new highs in the year ahead, as production suffers due to insufficient fodder and fewer new lactating cattle, and farmers raise prices to make up for losses in the last two years.

'Wealthy countries have neglected the global SDG agenda'

Last week, the UN’s Intergovernmental Panel on Climate Change (IPCC) released its report that detailed the devastating consequences of greenhouse gas emissions, and warned that the world needs to change course to avoid irreversible damage. It said global warming is already causing unprecedented changes to climate and called for more funding, especially for developing countries to adopt a low-carbon pathway to development. Professor Jeffrey D. Sachs, director, Centre for Sustainable Development, Columbia University, tells Mint in an interview what needs to be done to reverse the direction before it is too late. He was a keynote speaker at a side event on green development held as part of 2nd Sherpa meeting of India’s G20 presidency. Edited excerpts:

After hiving off CodeChef, Unacademy cuts 12% staff

Unacademy, the Softbank-backed provider U of test preparation services, cut its workforce by 12%, according to an internal memo from co-founder Gaurav Munjal, adding to the job cuts it did in the past year.

Chip dearth adds to wait for hot models

PV industry may report an up to 15% decline in March output

Will The Recent Banking Chaos Lead To An Economic Crash?

How quickly things change. A few weeks ago analysts were convinced the global economy was powering ahead. Now they worry about a deep recession caused by fallout from the collapse of Silicon Valley Bank (SVB) and the rescue of Credit Suisse.

France, India Dial Up Discussions Investment In Brexit Backdrop

India and France are gearing up for a busy summer of economic diplomacy, with the Indian Embassy in Paris set to welcome French enterprises in April for investment discussions, people aware of the matter said. France is also seeking to draw Indian investments away from the UK, they said.

Elon Musk And Others Urge AI Pause, Citing 'Risks To Society'

Elon Musk artificial experts and a group of intelligence and industry executives are calling for a sixmonth pause in developing systems more powerful than OpenAI's newly launched GPT-4, in an open letter citing potential risks to society and humanity.

App Alert: Don't Scream At The Gig Worker

There is little dignity of labour in India. Some startups want to change that

Scottish first minister Yousaf needs a new economic strategy

His predecessor's legacy and party's leftism make that a steep ask

The US Federal Reserve's role in America's string of bank failures

Many vulnerabilities were created by banks themselves but quantitative easing had an impact that must not be overlooked

Import substitution can set climate action back

Indian incentives for locally made solar panels have many takers, sure, but we must focus on our aim of an energy transition. Self-reliance behind raised tariff barriers could prove costly

'Health insurance policies cannot substitute emergency fund needs'

The right health insurance policy helps insulate financial goals from any significant healthcare expenditure. And, it ensures that I don't compromise on the quality of care ever,\" says 42-year-old Mahavir Chopra, founder and chief executive of Beshak.org-a Mumbai-based independent consumer awareness insur-tech platform for individual insurance buyers., underling the importance of a health insurance policy for every individual. In an interview with Mint, Chopra also explains why one shouldn't substitute health insurance for an emergency fund. Edited excerpts:

UBS veteran Ermotti returns to lead Credit Suisse takeover

UBS Group AG is bringing back Sergio Ermotti as chief executive officer to oversee the historic acquisition of Credit Suisse Group AG, tapping a Swiss insider with extensive restructuring experience to replace Ralph Hamers after just over two years.

The Metaverse is quickly turning into the Meh-taverse

The metaverse that was the hot thing in tech less than two years ago has cooled.

Adani execs meet Pimco, BlackRock, others for bond sale

Adani Group executives met US investors, including from BlackRock Inc., Blackstone Inc. and Pacific Investment Management Co., as part of its plans to market privately placed bonds for some of its group companies, according to people familiar with the matter.

'Gentari to bet on hydrogen, utility-scale power in India'

Gentari, the renewable energy arm of Malaysia-headquartered Petronas, is planning to expand its footprint in India’s utility-scale power sector. In an interview, chief executive officer Sushil Purohit said India will play a major role in Gentari’s future plans and it is in talks with several potential partners as it looks at both organic and inorganic growth.

Celebrity weddings the new big draw on streaming platforms

Weddings are always grand, but the intrigue around getting a glimpse into the high-stakes world of nuptials of the rich and famous have thrown up an opportunity for over-the-top streaming platforms. And, to get more eyeballs by sharing a piece of a celebrity’s life, they are trying to buy the rights to real-life celebrity weddings.

IT sector to see lowest hikes in 10 yrs: Deloitte

'Life sciences, manufacturing remain unaffected by covid, slowdown'

Honda India to roll out first electric scooter in March 2024

Honda Motorcycles and Scooters India Pvt. Ltd, the maker of the largest selling scooter Activa, will be launching its first e-scooter in March 2024 and follow it up with another product, that will have its battery-swapping pack, Honda Power Pack-e, the company's outgoing president for India Atsushi Ogata said.

'Tech sector H-1B employees' spouses can work in the US'

Big technology companies won a major court victory in Washington, where a judge dismissed a suit challenging the rights of highly skilled H-1B visa holders' spouses to work in the US.

Google's India antitrust fine stays, with some concessions

The company can prevent users from uninstalling apps that are pre-loaded on new devices

Zee gets closer to Sony merger with IndusInd settlement deal

Zee Entertainment Enterprises Ltd on Wednesday informed the National Company Law Appellate Tribunal (NCLAT) that it has entered into a settlement agreement with IndusInd Bank, inching closer to its planned merger with Sony Pictures (Culver Max Entertainment).

Two Adani Group firms face contagion risks: Fitch Ratings

Fitch Ratings said two of the Adani Group's stable, cash-generative corporate-like issuers, Adani Transmission and Adani Ports, face higher contagion risks as it raised concerns about governance weaknesses at the conglomerate's sponsor level and other group entities.

ICICI Lombard's digital push overshadowed by stake sale, succession

ICICI Lombard General Insurance Co. Ltd at its 2023 analyst meet held recently showcased its continued thrust on digital product innovations and partnerships. The aim is to improve customer experience, reduce the risk of frauds, explore cross-selling opportunities, and improve penetration.

Jio eyes new horizons with cheap fiber plan

Reliance Industries Ltd’s (RIL) telecom arm, Reliance Jio Infocomm Ltd, seems to be aiming at market share gains in the wired broadband segment. It has announced a new plan called ‘Broadband Back-up’, which starts at Rs198 per month and is available only to new users.