CATEGORIES

T20 cricket league LLC to raise $10mn

Legends League Cricket (LLC), a global T20 cricket league with recently retired international cricketers, is looking to raise $10 million to develop the league further, Raman Raheja, a director of Absolute Legends Sports Pvt Ltd and chief executive of LLC, told Mint.

EMIs, pre-used units drive Diwali smartphone sales

Full-year sales of smartphones to be tepid in world's second-largest smartphone market

India proposes UPI tech pact with Seychelles

India has proposed cooperation on UPI technology to Seychelles, according to persons aware of the matter.

'Q2 GDP surprise to signal robust growth'

There is a “wide consensus\" supported by economic forecasts that real gross domestic product (GDP) growth in the second quarter will turn out to be better than the Reserve Bank of India’s (RBI) projection of 6.5%, an article in the central bank’s November bulletin said on Thursday.

G20 group seeks $1 tn fund every year to grow startups

Funding to be taken up under Brazil's G20 Presidency, says group chairman Chintan Vaishnav

SoftBank to sell $154 mn shares in Delhivery

Japan’s SoftBank Group Corp. will sell shares worth $154 million ( ₹1,250 crore) in Delhivery in a block deal on Friday, a term sheet for the transaction showed. The investment firm will continue to hold 10-11% in the new-age logistics firm after the sale.

RBI ups consumer loans' risk weights

After several months spent trying to sensitize lenders against the ongoing credit binge, the Reserve Bank of India (RBI) on Thursday raised risk weights on consumption loans, credit card exposures and loans to non-bank financiers by 25 percentage points each, hoping higher consumption of capital will slow such rapid growth.

Tesla hits it off with Indian parts makers

India shift generated $135-150 mn business for component firms

With Art Mumbai, the city gets its own art fair

Though Mumbai is home to noted galleries, which regularly organize contemporary art weeks, it is only now that it is getting its first art fair

India may need to reconsider its indicator for inflation targeting

The government could re-examine its 2016 legislative mandate and modify RBI's inflation target to cover both WPI and CPI

Rescue Religare from its takeover battle dust-up

After allegations related to betting app Mahadev reached Dabur's owners, they contended it's an attempt to thwart their bid for Religare. Amid political intrigue, the law must prevail

Why many bankers hard-sell guaranteed insurance plans

While they earn hefty commissions on these products, investors benefit from the tax sops

THE UGLY UNDERBELLY OF BOB'S APP USAGE FIASCO

\"Gandha hai par dhandha hai,\" says a man in a recording of a conversation accessed by Mint. That Hindi saying, loosely translated, means that a dirty job is still a job.

India's blue economy offers sea of opportunities: Sitharaman

Govt is ready to support maritime sector by way of fiscal policy and financial outlay

Greenhouse gases hit record high in 2022, with no end in sight: UN

Greenhouse gas concentrations in the atmosphere hit new record highs in 2022, with no end in sight to the rising trend, the United Nations warned on Wednesday.

China pumps cash into bank system to support stimulus

China stepped up its support for the economy by pumping the most cash since late 2016 into the financial system with one-year policy loans.

Israeli forces in Gaza hospital at siege's end

The days-long hospital siege caused global alarm over the fate of civilians

IMAX sets sights on record-breaking revenue in India

IMAX, the large-format immersive cinematic experience, has exceeded its 2022 success in India, already boasting revenues surpassing $20 million (around ₹166 crore) this year.

Rise and fall of Subrata Roy

Roy rose from a modest roadside salted snacks seller in UP to a billionaire media-to-realty business magnate

Int'l airlines see scope in India as aviation hub

India can be a hub connecting Africa and Middle East for foreign airlines

World Cup 2023 is best ever in terms of quality and viewership: ICC

The ongoing Cricket World Cup 2023 has delivered on all the key International metrics for the Cricket Council (ICC), be it fan engagement or revenue from sponsorships, said a top official of world cricket's governing body.

Bajaj Fin asked to halt lending via 2 products

RBI will review supervisory restrictions after Bajaj rectifies deficiencies

Pidilite: New moves, old triggers

Adhesives maker Pidilite Industries Ltd has caught investors by surprise with its decision to enter the non-banking financial companies (NBFC) sector.

Underground coal mining policy to be unveiled soon

The Centre is considering measures to boost underground coal mining and will soon come up with a policy framework, said coal secretary Amrit Lal Meena.

Will exceed FY24 tax collection target: CBDT chairman Gupta

The government will exceed its direct tax collection target of ₹18.23 trillion this financial year, going by the healthy revenue growth so far, Central Board of Direct Taxes (CBDT) chairman Nitin Gupta said.

The US economy's elusive soft landing is coming into view

The U.S. economy is approaching what most economists had thought either unlikely or impossible: inflation returning to its prepandemic norm without a recession or even much economic weakness, a so-called soft landing. “What we are expecting now is a soft landing,\" said Nancy Vanden Houten, lead U.S. economist at Oxford Economics. “We expect the economy to weaken quite a bit but it does look like we’ll avoid an outright contraction\" in gross domestic product.

Recruitment sector plods through a gloomy quarter

Hiring activity cooled in tech and retail sectors in the December quarter as companies cut hiring mandates and reduced sub-contracting costs, while banking recruitment stayed flat and manufacturing saw a minor uptick.

Govt ready with plan to keep a lid on food prices over next year

The Centre is prepared with a plan to ensure food security over the coming year, in the wake of an erratic monsoon that disrupted the crop calendar and boosted food prices this year. According to Union consumer affairs secretary Rohit Kumar Singh, this will include sourcing pulses from a variety of countries, intervening quickly and directly in retail markets, and possible export-import related steps, depending on the situation.

Microsoft unveils own chips to cut reliance on rivals

Microsoft on Wednesday unveiled two custom-designed chips and systems at its Ignite 2023 event in Seattle. The move will help the Redmond company reduce its dependence on artificial intelligence (AI) chips from companies like Nvidia, leverage the investment it has made in OpenAI, and stave off competition from chipmakers like Intel and AMD.

Trade deficit balloons to record high in October

India's merchandise trade deficit widened to a record level in October owing to a near doubling of gold imports during the festive season, official data released on Wednesday showed. According to experts, higher goods trade deficit could in turn lead to a higher current account deficit and put pressure on the rupee.