Business Standard - August 27, 2024

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August 27, 2024

Financial regulators back ISA 600 for auditors of listed companies

The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard.

2 mins

RBI set to launch UPI-like unified lending platform

The Reserve Bank of India (RBI) 'will launch the Unified Lending Interface (ULI) nationwide in due course, aiming to transform India's lending sector, similar to how the Unified Payments Interface (UPI) revolutionised the payments ecosystem, Governor Shaktikanta Das said on Monday.

2 mins

Airfares rise as competition fades on domestic routes

The number of domestic routes in India with no competition surged from 55.2 per cent in April 2019 to 69.2 per cent in April 2024.

2 mins

Industrials, energy conglomerates see double-digit churn in human capital

As some of India's big conglomerates in the industrial and energy space see brisk business, they are also witnessing high employee turnover rates, and in double digits, data for FY24 shows.

2 mins

PhonePe turns profitable with adjusted PAT

Logs profit on consolidated numbers for the first time

1 min

Bajaj Auto on clean energy drive with slew of launches

Closes in on hitting 100,000 monthly sales mark this festive season

1 min

Flipkart-backed fintech looks to climb UPI chart

Flipkart-backed fintech firm supermoney is aiming to be among the top five players on the Unified Payments Interface (UPI) leaderboard by the end of this year, a senior company executive has said.

1 min

Specialties abooster dose to give private hospitals

Oncology, neurosciences help revenue rise in June quarter

2 mins

Adani group's Ebitda may go past ₹1 trn in FY25 on infra, power biz

Cement, power, and green energy expected to contribute 86% to growth

2 mins

Offers to 2022 batch freshers to be honoured, says Infosys CEO

Infosys CEO Salil Parekh (pictured) has indicated that offers given to freshers will be honoured by the company and followed with joining, although there has been some change in dates.

1 min

UltraTech raises $500 mn via sustainability loans

UltraTech Cement on Monday said it had successfully raised $500 million through a sustainability-linked loan with participation from six banks.

1 min

Vedanta readies ₹30K cr to reduce debt, aid growth

Anil Agarwal-led Vedanta Ltd has prepared a war chest of 30,000 crore with recent funds raised through a qualified institutional placement (QIP), offer for sale (OFS) and dividend to pursue further deleveraging and growth, sources said.

1 min

Meity plans to deploy 'experts' to tap govt data

Analysts to be trained in basic data, Al skills

2 mins

BoB raises ₹5,000 cr via 10-yr infra bonds at 7.3%

Coupon rate lower than what SBI offered in recent fundraise

2 mins

Delhi breathes easy after long as rains wash down pollutants. What next?

Delhi and its adjoining areas are breathing easy! Owing to good rain in August, the air quality index (AQI) in Delhi averaged among the best in recent times so far.

3 mins

ICICI Bank seeks bids for $27.7 mn stressed assets

ICICI Bank has invited expressions of interest (EoIs) from asset reconstruction companies (ARCS), banks, and non-banking financial companies (NBFCs), among others, to sell its stressed exposure in Gujaratbased John Energy.

1 min

Rlys union welcomes UPS, demands 8th Pay Commission

Railway National union Federation of Indian Railwaymen (NFIR) on Monday said that the Centre's decision to introduce the Unified Pension Scheme (UPS) is a welcome move, and sought additional pension prov sions for central government employees.

1 min

Govt plans agri clusters for ₹50K cr farm exports

The Uttar Pradesh government is targeting farm exports of 50,000 crore in the next three-four years with export-oriented agricultural and horticultural clusters.

1 min

Central staffers may get to keep higher returns from riskier bets

Central government employees could get higher returns under the Unified Pension Scheme (UPS) than guaranteed since they will get an option to choose an investment plan out of their funds and 10 per cent government contribution (of a total of 18.5 per cent), government sources said.

2 mins

BJP names J&K candidates amid protests by workers

The Bharatiya Janata Party (BJP) on Monday named 16 candidates for the first phase of polling in Jammu and Kashmir (J&K), including Shagun Parihar, who had lost her father and uncle in a terrorist attack five years ago.

1 min

Govt moots new rules to plug holes in existing law

To sanitise lands contaminated by hazardous substances and address critical gaps in existing environmental laws, the Ministry of Environment, Forest and Climate Change (MoEFCC) has proposed the Remediation Contaminated Sites Rules, 2024.

1 min

Child protection 'failures' led to Telegram CEO's detention

Pavel Durov (pictured), the chief executive officer of Telegram, has been detained in France over claims that the messaging service failed to properly fight crime on the app, including the spread of child sexual abuse material.

1 min

Russian missiles rain down on Ukraine

Drones, cruise missiles, hypersonic ballistic missiles target critical civilian infra in biggest Russian attack in weeks

3 mins

Prez elections put Nippon Steel's $15 billion takeover of US Steel in peril

When US Steel put itself up for sale in 2023, executives at Nippon Steel in Tokyo saw an opportunity: Buying the American steel maker could help it offset anaemic demand in its home country and strengthen its hand in a global business dominated by China.

2 mins

Uber fined $324 mn for data transfers to US

Uber Technologies was hit by a record €290 million ($324 million) fine by the Dutch privacy watchdog for failing to abide by European protection standards when it shipped swathes of sensitive data about its drivers to the US.

1 min

Over 70 dead after militant attacks in Pak's Balochistan

At least 73 people were killed in Pakistan's province of Balochistan when separatist militants attacked police stations, railway lines, and highways and security forces launched retaliatory operations, officials said on Monday.

1 min

US working to escalation, says Sullivan avert

Hours after 100 Israeli warplanes swooped over southern Lebanon, taking out thousands of Hezbollah missile launchers in what was called a preemptive strike, West Asia braced for an expanded conflagration that could involve Iran and its allied militias.

1 min

Regression to the mean or momentum?

Investors face a crucial decision-while the US markets may see short-term underperformance, the jury's still out on India

5 mins

Realigning Bazaar, Sarkar, and Samaj

The government has withdrawn the lateral-entry TH scheme under pressure from political forces complaining it would reduce opportunities for \"backward classes\" to serve in higher levels of government.

4 mins

Reckoning in Kyiv

India's mediatory moves may remain limited

2 mins

A middle path

The new modified pension scheme is better than OPS

2 mins

Fund houses take to factor-based investing

The domestic mutual fund (MF) industry is witnessing a shift with factor-based investing, bridging the gap between active and passive approaches.

2 mins

Markets rise as Fed chief's comments fuel global rally

Indian equity benchmarks gained on Monday after the Federal Reserve Chair Jerome Powell's dovish statement at the Jackson Hole meeting fuelled a global rally.

1 min

Paytm seeks to settle Esop grant issue with Sebi

Regulator had slapped show-cause notice for potential violation of allotment norms

3 mins

Bajaj Finserv, Bajaj Finance gain ahead of arm's IPO

Shares of Bajaj Finserv and Bajaj Finance rose on Monday ahead of the ₹7,000 crore initial public offering (IPO) announcement of mortgage lending arm Bajaj Housing Finance.

1 min

3 stocks created many millionaires in 20 yrs

JSW Steel, Titan, Bajaj Finance benefited by focusing on India

2 mins

TURNING GREEN GOALS INTO GAINS

The commercial and industrial segmentis looking lucrative for energy companies and investors alike

5 mins

Thailand visa-free deadline nears, fuels travel frenzy

Number of tourists from India rose 15% in 1st 5 mths of CY24

2 mins

RG Kar hospital case: Ex-principal to undergo second polygraph test

The CBI on Monday started a second round of polygraph tests on former RG Kar Medical College and Hospital (RGKMCH) principal Sandip Ghosh and five others as part of their investigation into the rape-murder of a woman doctor at the institution.

1 min

Meity asks MHA to check violations by Telegram

In light of Telegram Chief Pavel Durov's arrest in Paris for offences related to his messaging app, the Ministry of Electronics and Information Technology (Meity) has asked the Ministry of Home Affairs (MHA) for an update on where things stand in the Indian context and if there are any violations here as well, sources said.

1 min

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