CATEGORIES

Saudi price cuts may not dent Urals demand

INDIA'S CRUDE OIL imports from Saudi Arabia may pick up modestly after the kingdom cut the official selling price of its key export grade for February, but the demand for discounted Russian Urals is still seen surpassing that for the oil from Saudi Aramco.

Fertiliser subsidy won't exceed outlay for FY24

₹1.75 trn may be set aside for FY25

Massive pipeline ₹2.1-trn BOT on the road

53 highway projects identified by NHAI

Crisis in Red Sea: Finmin asked to ease export credit

AN INTER-MINISTERIAL MEETING on Red Sea crisis on Wednesday has asked Department of Financial Services (DFS) in the finance ministry to monitor the credit requirements of exporters and ensure that credit flows to them are maintained, a senior official said Wednesday.

Inflation may ease further, growth at 7% in FY25: Das

INDIAN ECONOMY SHOULD record a growth rate of 7% in the next fiscal and inflation is likely to ease further, RBI Governor Shaktikanta Das said on Wednesday.

Railways may get outlay of ₹3 trn

THE INTERIM BUDGET 2024-25 will likely allocate ₹2.8-3 trillion for the railways to keep its capex momentum intact, compared with ₹2.4 trillion provided in the 2023-24 (Budget estimate).

CRASH COURSE

MARKET MOMENTUM CAME to a halt on Wednesday, with the Indian benchmarks registering their worst single-day showing since February 24, 2022

Nagal First Indian To Beat Seeded Player In Grand Slam Since 1989

LATE LAST YEAR, India's top-ranked singles player Sumit Nagal had highlighted the financial uncertainty of many journeymen professional tennis players ranked outside the top 100.

Showcause notices to IndiGo, MIAL for passenger trouble

THE BUREAU OF Civil Aviation Security (BCAS) on Tuesday issued showcause notices to IndiGo and Mumbai airport operator, MIAL over the incident of passengers having food on the airport tarmac on Sunday.

Edible oil duty relief now till March 2025

THE GOVERNMENT ON Tuesday extended the validity of lower import duties on edible oils by another year.

No dues pending for gencos, says power minister

UNION POWER MINISTER RK Singh on Tuesday said there are no bills pending for power generation companies and all legacy dues have been almost cleared.

RBI panel calls for curbs on guarantees by states

ON THE HEELS of the Centre discouraging off-Budget funding of projects by states, a Reserve Bank of India Working Group on state government guarantees has recommended a slew of measures, including a ceiling on their annual incremental guarantees, charging minimum fees and disclosing such liabilities upfront.

Banking liquidity deficit widens to over ₹2 trn

WITH THE INTERIM Budget just two weeks away, the deficit in the banking system liquidity widened to over ₹2 trillion on January 15 on lower government spending and slower growth in the bank deposits compared to credit.

Event centred around PM, RSS: Rahul on Ram temple

SPEAKING ON THE political row over the invite for the Ram Temple inauguration for the first time, senior Congress leader Rahul Gandhi Tuesday said Prime Minister Narendra Modi and the RSS have \"captured\" the event and turned it into an \"election function\", making it difficult for the Congress to attend.

Synopsys to acquire Ansys for $35 bn

SYNOPSYS, A CHIP-DESIGN company, agreed to acquire software developer Ansys for about $35 billion in enterprise value.

Trump easily wins lowa

DONALD TRUMP SECURED a resounding win in the first 2024 Republican presidential contest in Iowa on Monday, assertng his command over the party despite facing scores of criminal charges as he seeks an election rematch with President Joe Biden.

Federal Bank PAT climbs 25% as advances, other income witness strong growth

FEDERAL BANK ON Tuesday reported a 25% year-on year (YoY) rise in its net profit to ₹1,007 crore, led by a robust growth in advances and other income. The Q3FY24 profit id higher than ₹935 crore estimated by Bloomberg.

HDFC Bank Q3 net profit umps 34%, beats estimate

Total advances grow 62.4% to ₹24.69 trn, while deposits rise by 27.7% to 22.14 trn

Hotel industry sees good times continuing this year

THE HOTEL INDUSTRY will continue to have a good run in 2024 as the stellar growth of the previous year is expected to spill over.Much like 2023, growth would come from meetings, incentives, conferences and exhibitions (MICE), and leisure travel. Key metro cities and resort locations would be the major beneficiaries.

Mahindra calls for EV level playing field

AUTOMAKER MAHINDRA & MAHINDRA has told the government there must be a level playing field between domestic and foreign players and local manufacturing must be promoted, a top executive said, as the Centre seeks to lure carmakers such as Tesla.

Top retailers tap tier-II markets

35 brands entered 14 cities in first 3 quarters of CY23

L&T Tech revenue up 1.5%

L&TTECHNOLOGY SERVICES (LTTS) reported a revenue of ₹2,422 crore in the December quarter of FY24, up 1.5% sequentially.

Uninsured losses of $32.94 billion due to natural disasters in 5 years

NATURAL CATASTROPHES IN India have led to uninsured economic losses of $32.94 billion (₹273,500 crore) during the five period of 2018-22, indicating the low insurance penetration in the country, global insurance giant Swiss Re said.

More action against pre-2018 audit violations likely: NFRA

THE NATIONAL FINANCIAL Reporting Authority (NFRA) will take further action on defaulting auditors this year, for pre-2018 cases as well, chairperson Ajay Bhushan Pandey said on Tuesday.

Will act tough on non-tariff barriers: Goyal

INDIA WILL RETALIATE strongly against any non-tariff barriers against its exports and industry has been asked to bring the instances where they have faced barriers to trade to the notice of the government, commerce and industry minister Piyush Goyal said on Tuesday.

Another spike in debt-to-GDP ratio unlikely

CHANCES OF INDIA'S public debt rising again after being off the pandemic-induced peak in FY21 are remote, experts said. Instead, over the next five years or so, the debt-GDP ratio could return to the pre-pandemic levels, most of them feel.

Internet-free video stream on mobiles next year

THE DIRECT-TO-MOBILE technology, which would pave the way for streaming television and video content directly to mobile phones, without an internet connection, is expected to hit the devices of Indian smartphone users by next year, according to top government officials

New CAT III runway at IGI by Jan 26

GMR-LED DELHI INTERNATIONAL Airport (Dial) on Tuesday informed the civil aviation ministry that the fourth runway at the airport, which is CAT III-enabled and under refurbishment, will be functional by January 26.

$800-MILLION DEAL LIKELY Dr Reddy's eyes UK's mega brand

Nicotinell is the world’s second-largest nicotine replacement product

Indian stocks valued at 157% premium over China peers

At 22 times forward earnings estimates versus China’s 8.6x