Business Standard - September 23, 2024

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September 23, 2024

Bajaj now third most valued finance group

With combined mcap of ₹10.36 trn, it goes past SBI group

4 mins

Venezuelan crude flows to state refiners via 3rd parties

STAGING A COMEBACK Oil imports from Venezuela (In $ mn)

2 mins

iPhone 16 series made in India, but still costlier: Blame 18% GST

Differential with US, UAE, Thailand significant despite lower launch MRPs

2 mins

Vi rings in $3.6 bn gear deal with global vendors

Mega pact comes a day ahead of telco's meet with investors, analysts

4 mins

Need to balance privacy and AI innovation: ITIC

Global tech body Information Technology Industry Council (ITIC) has urged the Indian government to strike a balance between individual privacy and innovation in the country's upcoming rules under the Digital Personal Data Protection (DPDP) Act.

1 min

Tupperware boxed in by stiff competition in India

Tupperware, the iconic maker of colourful, stackable plastic containers, last week filed for bankruptcy in a US court – a move that lifted the lid on its financial problems.

1 min

InGovern raises concern over delay in Religare AGM

Proxy advisory firm InGovern on Sunday expressed concern over governance in Religare Enterprises amid a delay in its annual general meeting (AGM) without a valid reason, and called for a comprehensive probe by the Securities and Exchange Board of India (Sebi) into the postponement.

1 min

No EV unit planned beyond Chakan: M&M

UV maker Mahindra & Mahindra (M&M), which enjoys a 21.6 per cent revenue market share in the segment, is progressing with its upcoming electric vehicle (EV) and EV battery manufacturing plant in Chakan.

2 mins

We are now an independent company, says Aakash CEO

With Byju's facing insolvency, AESL chalks out '2.0' strategy

2 mins

Fully compliant: DreamFolks amid airport lounge issues

DreamFolks, a lounge access provider, clarified on Sunday that all its \"contractual agreements remain in full force\" amid disruptions experienced by passengers accessing airport lounges.

1 min

Steel firms under pressure from rising imports, drop in exports

TRACKING THE PRICES Between 47,000 and 51,000 per tonne: Range of HRC prices; a decrease of ₹1,000 per tonne in the past three days *50,000-51,000 per tonne: BF-rebar trade prices ex-Mumbai. During August-end 2024, it hit three-year low level at 49,500 per tonne Rebars are most likely to have been impacted by the slackening of construction activities during monsoon India exports were constrained as key markets were either flooded with Chinese exports, experiencing weak demand, or facing trade restrictions, Ranjan Dhar of AM/NS India said.

3 mins

FinMin tells DRTs to settle small cases outside tribunals

To address the backlog of cases, the finance ministry has advised debt recovery tribunals (DRTs) and banks to engage borrowers outside the tribunal process, according to a senior finance ministry official who spoke to Business Standard.

2 mins

EY staffer death: FM calls for stress mgmt lessons

PRESS TRUST OF INDIA Chennai, 22 September

1 min

Submit verified info to back claims against Buch: Lokpal tells LS MP

PRESS TRUST OF INDIA New Delhi, 22 September

1 min

Lateral entry on hold but PSU posts still within private reach

Lateral entry into government has been held over, but the Public Enterprise Selection Board (PESB) continues to provide a platform for people in the private sector to get senior posts in central public-sector enterprises (CPSEs).

2 mins

Govt to merge EPFO, e-Shram databases

The Union labour ministry is set to integrate the databases of the e-Shram portal and the Employees Provident Fund Organisation (EPFO) to map and measure the formalisation trends of the workforce in the country, said a senior government official.

1 min

New-look MPC set to take rate call amid global pivot

New external members to be selected by Somanathan-led committee

2 mins

MP bags ₹19K cr funding proposals at Kolkata event

Chief Minister Mohan Yadav said the Madhya Pradesh government had secured investment proposals worth ₹19,270 crore across sectors like food processing, chemicals, steel, and renewable energy at roadshow held in Kolkata. This is expected to generate 9,450 jobs, paving the way for industrial expansion in the state.

1 min

Enabling IGCRS rules for EOUS electronically to cut transaction costs

Export-oriented units (EOUS) can now use the facility of electronically filing their bond, giving intimation of goods to be imported, intimating any shortage in receipt of imported goods, filing the monthly returns, and taking credit in the running bond account under the Customs (Import of Goods at Concessional Rate of Duty or for Specific End Use) Rules, 2022 (IGCRS Rules).

2 mins

Quad here to stay: PM at US summit

QUAD A FORCE FOR GOOD, MORE STRATEGICALLY ALIGNED THAN EVER, SAYS JOINT STATEMENT

2 mins

Long road ahead for Majhi govt in Odisha

Rollout of flagship Subhadra scheme and other pre-poll promises marks the 100 days in office for BJP's first government in Odisha, but issues of women safety and protests by tribals cloud the celebrations, writes RAMANI RANJAN MOHAPATRA

3 mins

DBT for women: Key task for Atishi

With less than five month left for the Delhi Assembly polls, rolling out the monthly direct benefit transfer for the city's women would be a key task for Atishi, who took oath as Delhi's chief minister on Saturday.

2 mins

Hoping to stay logged in

Startups in the Valley have frequently faced internet shutdowns. They hope the new J&K govt will foster stronger ecosystem for scaling businesses, reports SARTHAK CHOUDHURY

3 mins

Exploding pagers deliver a supply chain warning

The lethal detonation of hand-held pagers and walkie-talkies used by Hezbollah militants this week in Lebanon demonstrated powerful spycraft, but it also raised questions about a gaping vulnerability in the global supply chain.

3 mins

At least 34 killed in coal mine explosion in Iran

A methane leak sparked an explosion at a coal mine in eastern Iran, killing at least 34 people and injuring 17 others, Iranian state media reported Sunday. Another 18 miners are believed to be trapped inside.

1 min

Marxist Dissanayake elected Lanka Prez

VICTORY AFTER 2ND VOTE COUNT, FIRST IN NATION'S HISTORY | WICKREMESINGHE ELIMINATED IN 1ST ROUND

1 min

UNGA: World leaders discuss 'path for future' but outlook seems gloomy

Facing a swirl of conflicts and crises across a fragmented world, leaders attending this week's annual gathering at United Nations General Assembly (UNGA) are being challenged: Work together - not only on front-burner issues but on modernising the international institutions born after World War II so they can tackle the threats and problems of the future.

2 mins

US set to propose ban on Chinese car software, hardware

The ban would be on the import and sale of vehicles from China with key communications or automated driving system software or hardware ■ Biden administration was concerned about: a) The collection of data by Chinese companies on US drivers and infrastructure b) Potential foreign manipulation of vehicles connected to the internet and navigation systems

1 min

BIDEN SETS UP NEW OFFICE ON GUN VIOLENCE PREVENTION

Enhanced background checks have blocked thousands of gun sales to people under the age of 21 and those convicted of misdemeanor domestic violence crimes in the past year, the White House said on Sunday, a year after President Joe Biden set up a new office to accelerate work on preventing gun violence.

1 min

Germany's Far-Right AfD on track for another win

Germans in the state of Brandenburg were voting in a regional election on Sunday with the Far-Right Alternative for Germany (AfD) expected to finish first, building on successes in other eastern states and beating Chancellor Olaf Scholz's Social Democrats in one of their traditional strongholds.

1 min

Swiss regulator probes Credit Suisse takeover

Swiss financial market regulator Financial Market Infrastructure Ordinance (FINMA) ordered an audit into Credit Suisse's handling of events leading to its demise in 2023, when the bank was acquired by its longtime rival UBS, Swiss newspaper SonntagsZeitung reported on Sunday.

1 min

Freedom and the good life

On November 9 it will be 35 years since the Berlin Wall fell. The exhilaration of that moment was followed by high hopes for the spread of democracy throughout Eastern Europe, then in Russia itself when the Soviet Union imploded.

4 mins

China syndrome in the US

Quad and IPEF clarify India's geopolitical stance

2 mins

Tech monopolies

Regulators are developing better understanding

2 mins

Have the FIIs lost their way?

From the bottom of 15,183 in mid-June 2022, the benchmark market index Nifty has soared 69 per cent to hit 25,791.

4 mins

Boots on the ground need mending

The business correspondent channel for financial inclusion is calling for a pay raise, investments and an end to penalties, reports RAGHU MOHAN

3 mins

How shift to digital credit underwriting helps India

In an evolving financial landscape, digital transformation is no longer optional but necessary.

2 mins

All you want to know about SROs in finance

The key to effective implementation of the SRO regime is avoiding overlap

5 mins

FLOUR POWER

Current wheat prices are justified, say flour millers. Will the govt cut import duty?

4 mins

Tourism recovers but challenges remain

As the world celebrates Tourism Day on September 27, it is an opportune time to assess the performance of the sector and the challenges faced by it in India. <

1 min

India wins first double gold in Chess Olympiad

India on Sunday scripted history as its men's and women's teams won their maiden gold medals in the 45th Chess Olympiad.

1 min

Star Health data breach 'huge problem': Experts ring alarm bells

The data breach of Star Health and Allied Insurance is a \"huge problem\" if sensitive information of about 31 million customers, reportedly amounting to 7.24 terabytes, is offered for sale, industry experts have warned, saying that the gravity of the issue may be even more severe than it looks.

1 min

Maiden critical minerals auction: A modest showing

38 critical mineral blocks were auctioned, but only 14 found bidders

2 mins

Govt probing Netflix India over alleged tax evasion, visa breach

Netflix India is facing an investigation over local operations, including allegations of visa violations and racial discrimination, according to a government email sent to a former executive.

2 mins

Pharma's power pill: A strong dose of steady pricing and new launches

PRICING PULSE CHECK: US mkt demand, domestic stability as growth tonics

3 mins

‘India's one of the most crowded trades for FIIs’

With the US Federal Reserve's (Fed's) meeting outcome now known, all eyes are on the Reserve Bank of India to cut rates. Puneet Wadhwa caught up with SANDEEP BHATIA, managing director and head of equity India at Macquarie Capital in Mumbai, to discuss his views on the road ahead for global equity markets. There is a notable shift in global perception of India, he said, as it is now seen as a rising star, reflecting growing international admiration. Edited excerpts:

2 mins

AIFs push for a tune-up: Simpler rules, lower barriers

Sebi expert group recommends reforms to streamline operations

2 mins

NPS Vatsalya: Start early to ensure child's financial security

Excessive investment in it shouldn't compromise marriage and education funding

3 mins

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