CATEGORIES

UK economy shrinks for second month

BRITAIN'S ECONOMY SHRANK for a second month in a row in October in the run-up to the government's first budget, the first back-to-back falls in output since the onset of the COVID-19 pandemic, and a setback for new finance minister Rachel Reeves.

Eric Trump says he's 'wrong guy' to gain US favour

THE TRUMP TRANSITION team wants the incoming administration to drop a car-crash reporting requirement opposed by Elon Musk's Tesla, according to a document seen by Reuters, a move that could cripple the government's ability to investigate and regulate the safety of vehicles with automated-driving systems.

Israelis find ways to watch 'The Bibi Files'

VETERAN DOCUMENTARIAN ALEX Gibney, who in a decades-long career has tackled many a thorny issue, wasn't planning a film about Israel — until one day last year, when a stunning leak fell into his hands.

Deposits top credit growth

UNSECURED LOANS MODERATE AFTER RBI DIRECTION

Rupee rebounds, rises 8p to 84.80

THE RUPEE REBOUNDED from its all-time low level and settled with a gain of 8 paise at 84.80 against the US dollar on Friday, buoyed by a strong recovery in domestic equity markets and easing inflation data.

Forex reserves decline to over five-month low

INDIA'S FOREIGN EXCHANGE reserves fell by $3.2 billion to a more than five-month low of $654.86 billion as of December 6, data from the Reserve Bank of India (RBI) showed on Friday.

Sebi lists exclusions from pro rata distribution for AIFs

SEBI ON FRIDAY clarified the non-applicability of its pro rata distribution mandate for alternative investment funds (AIFs).

FPIs turn sellers of G-Secs as rate differential narrows

FOREIGN PORTFOLIO INVESTORS (FPI) have turned net sellers in the Indian G-Sec market this week, after being net buyers in the first week of December.

Aviva India cleared brokerage model queried by tax officials

AN AVIVA BUSINESS model that tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows.

SpiceJet clears staff's pending PF dues

DOMESTIC CARRIER SpiceJet on Friday said it has cleared all the pending employee provident fund (PF) dues of its employees, amounting to ₹160.07 crore.

Wardwizard launches e-two, three wheelers

VADODARA-BASED WARDWIZARD Innovations & Mobility on Friday announced the launch of four electric three-wheelers and an electric scooter to expand its offering in the two keenly-contested segments.

V-shaped recovery seen for indices

STRONG BUYING IN index heavyweights like telecom, IT, FMCG, and banking sectors fuelled Friday's rally.

Tax blow to Swiss arms of India Inc

AT PRESENT, THE MFN clause in the DTAA enables Indian subsidiaries in Switzerland to pay a lower rate of withholding tax to Swiss authorities on certain types of incomes, namely dividends, interest, royalties, or fees for technical services.

Nuvama Wealth picks up Oyo shares worth ₹100 cr

NUVAMA WEALTH AND Investment has acquired shares worth ₹100 crore in Oravel Stays, the parent company of Oyo, through a secondary transaction at ₹53 per share that valued the travel-tech unicorn at $4.6 billion, according to sources.

Shorter furloughs, weak Re may aid IT firms' Q3 margins

SHORTER FURLOUGHS THAN last year, when they were extended due to soft demand scenario, coupled with depreciating rupee, are expected to protect the margins of IT firms during the October-December period, which is otherwise seen as a weaker quarter.

Apple to assemble AirPods in Telangana by early 2025

APPLE WILL BEGIN producing its AirPods wireless earphones in India for the first time early next year, marking a milestone in the iPhone maker's steady push to diversify beyond China.

Tier 4 towns, Gen Z boost Meesho's orders

E-COMMERCE UNICORN MEESHO, which primarily serves shoppers beyond tier 1 cities and metros, has recorded a 35% year-on-year rise in the number of orders placed on its platform this year.

SaaS startups shift focus to tier 2, 3 cities

SAAS (SOFTWARE AS a Service) startups, once primarily targeting global markets, are increasingly turning their attention to India's tier 2 and 3 cities to fuel growth.

Zepto FY24 revenue more than doubles to ₹4,454 cr

● Eyes profitability and listing by FY26

PV sales grow 4% in Nov, but two-wheelers see 1% decline

HIGH INVENTORIES

ONGC likely to list green energy arm in 2025-26

GOING PUBLIC

Carlyle mulls $1-bn IPO of Quest Global

THE CARLYLE GROUP is considering an initial public offering of engineering services firm Quest Global Services in India, people familiar with the matter said, amid increasing investor interest in the nation's stock market.

PF withdrawals via ATMs likely from early next year

● Current checks and balances may get reduced

Constitution debate in LS sees heated exchanges

THE LOK SABHA on Friday witnessed heated exchanges between the Opposition and treasury benches, with defence minister Rajnath Singh alleging the Congress always chose power over Constitution, drawing a sharp counter from Priyanka Gandhi Vadra, who accused the BJP government of breaking the 'suraksha kavach' that the Constitution provided.

Chief secys' meet to focus on development agenda

PRIME MINISTER NARENDRA MODI will chair the fourth national conference of chief secretaries in Delhi on Saturday-Sunday to prepare a common development agenda and the blueprint for a cohesive action in partnership with the states.

Parliamentary panel calls for higher MGNREGA wages

FLAGGING LOW WAGES under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), a Parliamentary panel has asked the rural development department to increase wages in the scheme by linking it to a suitable index commensurate with inflation.

Capex pace to be kept in FY26 too: Minister

THE CENTRE WILL strive to achieve the capital expenditure target of ₹11.11 lakh crore in FY25, minister of state for finance Pankaj Chaudhary said on Friday.

Table tennis body anti-competitive: CCI

The Competition Commission of India (CCI) has issued a cease-and-desist order against the Table Tennis Federation of India (TTFI) and its affiliates for the abuse of dominant position in the market.

MoSPI prepares 5-year roadmap with focus on AI

THE MINISTRY OF statistics and programme implementation (MoSPI) has devised a five-year 'vision document', likely to be launched in April 2025, creating a roadmap for improvement of the statistical system in the country.