Financial Express Mumbai - January 09, 2025
Financial Express Mumbai - January 09, 2025
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In this issue
January 09, 2025
'The plan is profitability first, followed by IPO’
With an eye on profitability, edtech firm Unacademy is charting a steady path forward as it competes with industry heavyweights in a rapidly evolving market.
3 mins
Swiggy serves Snacc to take on Zomato in 15-minute delivery
FOOD AND GROCERY delivery platform Swiggy has launched a new initiative - Snacc - in the competitive quick food delivery space.
2 mins
Modest Q3 on the cards for India Inc
AFTER A DISAPPOINTING September 2024 quarter, in which aggregate net profits for India Inc barely grew, companies are expected to turn in a better performance for Q3FY25.
2 mins
No pre-emptive tariff overhaul
Routine customs duty rejig likely
4 mins
Foxconn, Dixon Urge Govt to Pay ₹700 Cr in Pending PLI Subsidies
Apple supplier Foxconn Technology Group and Dixon Technologies India are asking the government to pay them crores in subsidies they think they are entitled to under the production-linked incentive (PLI) scheme.
1 min
'Higher corporate efficiency also behind lower wage growth'
The trend of manufacturing companies outsourcing services impacted wage growth in India, Sanjiv Puri, president of the Federation of Indian Industry (CII), said in an interview.
3 mins
Digital farmer ID must to apply for PM Kisan benefits
States requested to upgrade land records
1 min
Gold imports overstated by $11.7 bn in Apr-Nov: Govt
INDIA OVER-COUNTED ITS gold imports for every single month of the current financial year up to November with cumulative over-reporting to the tune of $11.73 billion, or 31%. This was revealed in a review triggered by a sharp, inexplicable spike in imports of the yellow metal in November.
2 mins
BP bags contract to operate ONGC's Mumbai High field
BRITISH MULTINATIONAL BP has been selected as the technical service provider for the enhancement of production of state-owned Oil and Natural Gas Corp's Mumbai High oil and gas field by up to 60% over baseline levels over a 10-year period.
1 min
Steel import duty may lead to steep price hike
STEEL PRICES IN 2025 would be much higher than last year's if the proposed safeguard duty on steel imports is imposed by the end of next month, rating agency Crisil said on Wednesday.
1 min
DPIIT Looks at Policy Tweaks to Boost FDI
THE DEPARTMENT FOR promotion of industry and internal trade (DPIIT) held a consultation with stakeholders on Wednesday on ways to increase the inflows of foreign direct investment (FDI) by carrying out required changes in regulations.
1 min
New Isro chief, the brain behind cryogenic success
FROM CHANDRAYAAN to the latest Space Docking Experiment (SpaDeX) and the upcoming Gaganyaan missions, the Indian Space Research Organisation (Isro) is \"going through a successful phase\", new Isro chairman, Dr V Narayanan, said on Wednesday.
1 min
Faceless document registration in Maha
THE MAHARASHTRA GOVERNMENT will launch a \"faceless\" initiative for certain types of document registration, allowing citizens to complete the process from the comfort of home, chief minister Devendra Fadnavis said on Wednesday.
1 min
PM Launches Projects Worth Over ₹2 Lakh Cr in Andhra
Prime Minister Narendra Modi on Wednesday virtually laid the foundation stone and launched projects worth over ₹2 lakh crore here.
2 mins
Top contenders shortlisted for ₹10k-cr AI compute initiative
List includes Yotta Data Services, Jio Platforms, Tata Communications
1 min
Infinity Fincorp loan book tops ₹1K cr
MUMBAI-BASED INFINITY FINCORP, which provides loans against property for MSME borrowers, has increased its loan book to over ₹1,000 crore, company founder, MD and CEO Shrikant Ravalkar told FE in an interaction.
1 min
Nadella: India must balance AI ambition with investment
INDIA HAS THE potential to be a global leader in artificial intelligence (AI), but it must carefully weigh its investments in building foundational AI models, Microsoft chairman and CEO Satya Nadella said on Wednesday.
1 min
E-comm, q-comm major driver of demand in the country
Welspun One, the logistics and industrial property arm of Welspun Group, recently said it plans to raise ₹3,000 crore to fund its expansion.
2 mins
Inter-ministerial team to govern AI proposed
A PANEL APPOINTED by the ministry of electronics and IT (MeitY) has recommended an inter-ministerial approach to govern artificial intelligence (AI).
1 min
Wilmar readies post-Adani exit blueprint
SINGAPORE-BASED WILMAR INTERNATIONAL is likely to strengthen the food portfolio of Adani Wilmar by introducing products such as cheese, ready-to-eat meals and snacks after the exit of the Indian partner, sources have told FE.
1 min
SC order on land row drags Aditya Birla realty shares
THE SHARES OF Aditya Birla Real Estate (formerly known as Century Textiles and Industries) fell 4.57% on Wednesday after the Supreme Court overturned a 2022 ruling by the Bombay High Court, which had favoured the company in a land dispute with the Municipal Corporation of Greater Mumbai (MCGM).
1 min
M&M Unveils Advanced Hub for EV Production
MAHINDRA HAS LAUNCHED a cutting-edge electric vehicle (EV) manufacturing and battery assembly facility at its Chakan hub, dedicated to electric-origin SUVs.
1 min
JSW's Mozambique deal on hold
India's largest steelmaker has been sidelined by a legal dispute that's derailed its deal to buy a coal concession in Mozambique.
2 mins
New entrants, QSRs fuel 10-min food delivery biz
THE FOOD DELIVERY race is heating up as new players, quick service restaurants (QSRs), and cloud kitchens jump into the burgeoning 10-minute delivery segment, a feat that even Domino's Pizza could not have envisioned when it launched in 1996.
1 min
RBI Lifts Restrictions on Asirvad, DMI Finance
THE RESERVE BANK of India on Wednesday lifted supervisory restrictions on Asirvad Micro Finance and DMI Finance. Restrictions were imposed on these NBFCs in October 2024.
1 min
‘Microfinace portfolio shrinks'
THE MICROFINANCE PORTFOLIO declined 4.3% to ₹4.14 lakh crore in the September quarter as microlenders turned cautious amid concerns over the deteriorating asset quality, according to a report released by credit information company Crif High Mark.
1 min
NBFC fundraising through ECB route hits 5-year high
Fundraising by non-banking financial companies (NBFCs) through the external commercial borrowings (ECB) route has hit a five-year high in 2024.
2 mins
Indices Stage Smart Recovery, Defy Slowdown Concerns
The benchmark indices staged a smart recovery in the second half of the trading session on Wednesday, but ended the day with marginal losses.
1 min
Ola Electric gets Sebi warning over disclosure lapses
MARKETS REGULATOR SEBI has issued an administrative warning letter to Ola Electric Mobility over violations of disclosure norms.
1 min
Re slumps 14 paise on rise in crude oil prices, strong dollar
The rupee fell 14 paise, or 0.2%, to an all-time closing low of 85.86 on Wednesday as the dollar further strengthened on account of positive economic data from the US, said forex traders.
1 min
Govt mulls lifting ban on trade in some crop futures
THE GOVERNMENT IS considering revoking a three-year ban on futures trading in seven agricultural commodities, including wheat and unprocessed rice, after studies found the steps were counterproductive, according to a person with knowledge of the matter.
1 min
Samsung Profit Outlook Falls Short of Estimate
SAMSUNG ELECTRONICS' PRELIMINARY fourth-quarter operating profit missed estimates by a large margin, with the South Korean tech giant hit hard by extra costs as it works towards providing high-end chips to Nvidia.
1 min
Trump Mulls National Economic Emergency Call to Support Tariffs
PREZ-ELECT HAS VOWED TO IMPOSE 10% TARIFFS ON GLOBAL IMPORTS
1 min
Putin's booming war economy poised for soft, bumpy landing
PRESIDENT VLADIMIR PUTIN'S invasion of Ukraine triggered an economic boom in Russia built on the back of government stimulus. Almost three years on, there are gathering signs the bill is about to come due.
1 min
AI startup Anthropic to raise at $60 bn value
OPENAI RIVAL ANTHROPIC is in advanced talks to raise $2 billion in a funding round that would value the startup at $60 billion, according to two people familiar with the matter.
1 min
China Bolsters Consumer Subsidies to Boost Spending
China will subsidize more consumer products and boost funding for industrial equipment upgrades, ramping up a program aimed at bolstering domestic consumption in the face of growing headwinds for exports.
1 min
Tesla Poised for $1-bn Windfall from EU Emissions Curbs
TESLA COULD COLLECT more than €1 billion ($1 billion) in compensation from rival automakers that need help meeting tougher pollution standards in the European Union this year, UBS Group analysts said.
1 min
OpenAI chief denies sister's allegations of sexual abuse
THE SISTER OF billionaire OpenAI chief executive Sam Altman filed a lawsuit accusing him of sexually abusing her regularly between 1997 and 2006, prompting him and other family members to deny her claims.
1 min
A power distribution poser
EACH CASE OF PRIVATISATION HAS BEEN A LESSON FOR THE NEXT
4 mins
Fact-checking reversal lets Zuckerberg drop charade
MARK ZUCKERBERG'S VIDEO announcement on Tuesday that the company would abandon its fact-checking efforts and loosen moderation marks a stunning reversal of years of promises regarding safety and misinformation.
3 mins
Tidings for agri-budget
All eyes will be on how the govt addresses the narrative of agrarian distress
2 mins
Reshaping consumer behaviour
High fintech adoption isn't just a trend but a game changer in India; three 'S's will define 2025 for the sector - security, sustainability, and scalability
3 mins
GCCs focus on skills-based hiring for growth
GCCs focus on skills-based hiring for growth
2 mins
'Align AI and business goals for better results'
ENTERPRISES ARE increasingly recognising the value of multicloud architectures and the ability to capitalise on the unique strengths of various cloud platforms to enhance their operational capabilities, says Shailender Kumar, senior vice-president and regional managing director of Oracle India and Netsuite JAPAC. In this interview, he speaks to Sudhir Chowdhary on the emerging trends in cloud computing and how cloud providers are embedding AI capabilities into their services. Excerpts:
2 mins
SC: Examine proposals to develop Sahara land
THE SUPREME COURT on Wednesday asked market regulator Sebi and the amicus curiae to examine two separate proposals of two firms for developing the Sahara Group's land in Mumbai to return investors' money.
1 min
Sebi issues guidelines for analysts & advisers
MARKETS REGULATOR SEBI on Wednesday said it has issued guidelines on the regulatory framework for research analysts and investment advisers to bolster investor protection and ensure transparency.
1 min
Oil pares gains on dollar strength
OIL PRICES TRIMMED earlier gains on Wednesday as the dollar strengthened but continued to find support from a tightening of supplies from Russia and other OPEC members and a drop in US crude stocks.
1 min
Pritish Nandy dies at 73
VETERAN JOURNALIST, POET and filmmaker Pritish Nandy passed away in Mumbai on Wednesday, sources close to him said.
1 min
India seeks NRI participation in 'Viksit Bharat'
THE 18TH PRAVASI Bharatiya Divas (PBD) convention kicked off here on Wednesday, with external affairs minister S Jaishankar calling upon NRIs and Persons of Indian Origin to actively participate in the quest for a 'viksit Bharat' (developed India).
1 min
Bid for 2036 Olympics takes pan-India route
Bhubaneswar, Bhopal, Pune to join Ahmedabad
3 mins
Trump comeback: Honda to go slow on new EVs
HONDA MOTOR WILL be cautious about starting production of new electric vehicles due to uncertainty about US President-elect Donald Trump's industrial policy, a senior executive of the Japanese automaker said on Tuesday.
1 min
Flying taxis are on the horizon
Taking Commuting To New Heights
3 mins
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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