CATEGORIES

Banks, automakers likely to lead earnings growth in Q4

Manufacturing firms are likely to face continued margin pressure due to a rise in input costs

'We can't have brands in portfolio that aren't perceived as premium'

The worst is behind for India’s hotel industry, and FY24 was the beginning of an upcycle after almost two years of devastation, said Puneet Chhatwal, managing director and chief executive, Indian Hotels Co. Ltd. Even if the industry faces another black swan event like covid-19, it will be in a better position to navigate, he said an interview, while discussing how the Indian hospitality industry is shaping up and why it was important for the company to fast-track its growth. Despite signing 36 properties over the last 12 months, IHCL is eager to add more hotels to its portfolio. Edited excerpts:

YouTube ad co Channel Factory sees huge potential in India

US-based YouTube advertising company Channel Factory, which entered India last month in partnership with Indian advertising and marketing firm Y&A Transformation, is betting big on the potential in India. The company, which offers ad tech solutions to YouTube advertisers worldwide to help maximize performance efficiency, says almost 28% of money spent on YouTube goes waste. It claims that while there are over 35 million YouTube channels, the top 20% get 80-90% of eyeballs.

Adani Group's brand custodian steps down from NDTV board

Adani group's corporate brand custodian and head of corporate affairs Aman Kumar Singh, who is facing a corruption charge in Chhattisgarh, has resigned from the board of NDTV Ltd due to other preoccupations.

India's imports of Russian oil now double of Iraq

India's imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq the nation's traditional top oil supplier. But the purchases appear to have plateaued as growth has slowed.

Italy to send naval patrol vessel to Indo-Pacific next year, says envoy

Italy will send a naval patrol vessel, the Morosini, to the Indo-Pacific in August next year, Italian Ambassador to India Vincenzo de Luca said, in a sign of growing western interest in the strategically important region.

Electric 2-wheeler cos improve Ebitda margins, revenues

India's top electric two-wheeler makers improved their financial health in FY22 as revenues surged on booming demand, a VCCircle analysis showed.

Govt plans training for senior civil servants in public health

The Union health ministry is developing a training curriculum for civil servants who have recently been promoted to joint secretary or higher positions so that they can help tackle public health challenges confronting India.

India defends MSP at WTO

India defended its minimum support price programme for procuring domestic foodgrain at a World Trade Organization (WTO) meeting, saying it not only ensured food security but also kept global food prices from surging in the backdrop of the Ukraine war.

RoCs set to crack the whip on company law violators

RoCs oversee registration of companies and LLPs, ensuring these entities follow the law

Tesla to build battery unit in Shanghai

Tesla Inc. will build a new battery factory in Shanghai, increasing investment in China at a time of brewing tensions between Beijing and Washington.

'Europe must follow own Taiwan policy'

French President Emmanuel Macron said in comments published on Sunday that Europe had no interest in an acceleration of the crisis over Taiwan and should pursue a strategy independent of both Washington and Beijing.

China simulates Taiwan siege on second day of military drills

China's military simulated precision strikes against. Taiwan in a second day of drills around the island on Sunday, with the island's defence ministry reporting multiple air force sorties and that it was monitoring China's missile forces.

THE COLD REALITY ABOUT INDIA'S MIDDLE CLASS

Consumer firms may have to rein in expectations because the middle class has not grown on the scale it promised

Struggling VC funds to cut bonuses, salary hikes

Venture capital funds are resorting to hefty cuts in bonuses and may offer annual salary hikes of no more than 8-10%, a significant drop from the 25% seen at the height of the investment boom that ended a decade of easy money, amid challenging times for startup investments.

Inflated valuations put edtech sector at risk: Screwvala

The noise around 'one or two'edtech firms could pose significant issues for the entire sector, and unless inflated valuations correct, sanity will not prevail in the industry, warned Ronnie Screwvala, co-founder of the learning platform. UpGrad and a serial entrepreneur.

L&T, Afcons, JSW vie for Nicobar project

The project has faced opposition from environmentalists

Centre fixes gas price at $7.92/mmBtu

The Centre announced on Friday that natural gas prices will be fixed at $7.92 per metric million British thermal unit (mmBtu) for the 8-30 April period.

India woos Bhutanese students, youth

New Delhi has launched a slew of measures to promote India as an attractive destination for Bhutanese students, following a steady decline over the past decade, and Australia emerging as a key alternative, said people in the know.

Disparity over rate hike transmission by public banks hit retail loan customers

Though the Reserve Bank of India (RBI) has hiked repo rates by 250 basis points (bps) since May 2022, there are disparities over the transmission of the rates by banks for different customer segments, RBI data showed.

Adani opens power plant for supply to Bangladesh

Adani Power Ltd opened a new power plant in Jharkhand that will supply electricity to Bangladesh.

Shipping ministry to exceed 4-yr asset monetization aim

Goal is to raise ₹6,760 cr this fiscal year through the development of berths and terminals

Unseasonal rains to impact wheat output this season

India's wheat production is estimated to fall to 102.8 million tonne (mt) this season as unseasonal rains and hailstorms in March led to widespread crop losses, according to Agriwatch. This marks a downward revision from the 104.2 mt forecast made by the agricultural research agency on 9 March.

Govt on alert after big jump in covid-19 cases

India reported single day jump of 6,050 covid-19 cases after six months

Bosses want hard workers-so they're hiring older people

Kip Conforti is hiring for a part-time position at one of two package shipping stations that he owns in Pennsylvania. He's filled such roles with high school and college students during two decades in business, but this time his top candidate is a man in his 70s.

Pandemic spurs Indian firms to boost CSR spending, compliance

The number of companies defaulting on their corporate social responsibility (CSR) spending commitments plummeted in FY21, even as an increasing number of companies went beyond their legal obligations to contribute to their communities, corporate affairs ministry data showed.

'Nifty could hit 18,000 level as FPIs turn upbeat'

The pullback rally seen over the past Il sessions could extend the Nifty level to 18,000 as foreign portfolio investors (FPIs) cover bearish derivative bets while simultaneously turning net buyers in the cash segment in March and so far this month, two analysts said, while a third expects FPIs to retain their bearish bets and the market to consolidate with a negative bias.

Economists expect prolonged rate pause

AIthough the Reserve Bank of India (RBI) signalled it won't hesitate to hike rates again despite hitting the pause button in April, several economists now expect the central bank will keep its repo rate on hold for an extended period.

Maruti eyes 25% of India SUV market

Maruti Suzuki India Ltd is aiming to capture a 25% share of the rapidly expanding sport utility vehicle (SUV) market, more than doubling its share by the end of the current fiscal year, a top executive said.

Temasek unit takes control of Manipal

Singapore's Sheares buys controlling stake for ₹16,400 crore