Business Standard - December 14, 2024

Bu konuda

December 14, 2024

Sensex rebounds over 2K pts from day's low

Mkts end in green for 4th straight week, longest winning run since July

2 mins

Sebi proposes guardrails for retail algorithmic trades

The Securities and Exchange Board of India (Sebi) has proposed measures to regulate algorithmic (algo) trading by retail investors, introducing new checks and balances for stock brokers and exchanges.

2 mins

Less inequality can push growth, poverty alleviation in India

The income share of India's top 10 per cent population should be 30-40 per cent, not the 55-60 per cent seen at present, says French economist THOMAS PIKETTY, known for his groundbreaking research on economic inequality, wealth distribution, and the dynamics of capitalism. A professor at the Paris School of Economics, where he also co-founded the World Inequality Lab (WIL) and the World Inequality Database (WID), Piketty has sparked global debates with his research, becoming a central figure in contemporary discussions on economic equity and public policy. In an interview with Ruchika Chitravanshi and Asit Ranjan Mishra in New Delhi during his India visit, Piketty advocated a wealth tax on Indian billionaires to finance social infrastructure. Edited excerpts:

3 mins

Tata airlines seat capacity soars, but IndiGo way ahead

The Tatas have collectively increased their aggregate airlines seat capacity across domestic and international markets by an impressive 20 per cent, going from 64.03 million in calendar year (CY) 2023 to 76.72 million in the current CY, according to data shared by the group that controls Air India in which Vistara has been merged recently.

2 mins

Chessboard to billboards: Brand Gukesh gets wings

Edtech, banks, fintechs and IT firms expected to make a beeline to sign the youngest world chess champion

3 mins

SpiceJet clears all PF dues worth ₹160 cr

SpiceJet on Friday said it has cleared all employee provident fund (PF) dues worth ₹160.07 crore that were pending for over two years.

1 min

Apple may begin AirPods assembly early next year

Apple Inc 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.

1 min

INDIAN BILLIONAIRES: THE RISE OF A FEW

India has 185 billionaires, the third-largest such cohort in the world after the United States (US) and China, according to a report released this week.

1 min

High dispatches, low retail sales may up PV inventory

Dispatches log best Nov numbers with 4.1% growth, retail sales decline 14%

2 mins

CCI can't be given special treatment: SC

Refuses to transfer all pleas to itself

2 mins

Our aim is to make India world's top domestic aviation hub, says Naidu

India's civil aviation sector has witnessed rapid growth over the last ten years and now the aim is to make the country the top global domestic aviation hub, Union minister K Rammohan Naidu (pictured) said on Friday.

1 min

India narrows China's lead in 5G phone conversion

India is closing the gap with China in the rapid shift of smartphone shipments from 4G to 5G over the past 12 months.

1 min

Space Kidz eyes lunar leap with all-woman line-up

May become first Indian private firm to crash-land on the moon's surface

2 mins

Spacetechs shoot for stars but funding continues to be elusive

The Indian space technology sector is currently valued at $8.4 billion, but accounts for a mere 2 per cent of the global space economy.

3 mins

Even a 2% wealth tax on billionaires can raise a lot of money for social infra

What are the key reforms the government should undertake to reduce inequality?

4 mins

Economists see 25-bp rate cut in Feb

With the latest headline inflation rate coming in at 5.48 per cent and expectations of it remaining below 6 per cent in the coming months, economists and the markets are betting on a cut in the policy repo rate of 25 basis points (bps) by the Reserve Bank of India's (RBI's) rate-setting body Monetary Policy Committee (MPC) in the February meeting.

3 mins

CEA: Higher tax will drive capital away

Taxing capital less may not lead to more investments but taxing more will drive capital away, Chief Economic Advisor V Anantha Nageswaran on Friday said during a discussion on Inequality, Economic Growth and Inclusion.

1 min

Crude oversupply likely to hit 950,000 bpd next year: IEA

Global markets are expected to see an oil surplus of 950,000 barrels per day (bpd) in 2025 despite an extended supply cut by OPEC+ nations, the International Energy Agency's (IEA) said, a projection which could be favourable for India as large oil glut may lead to lower oil prices.

2 mins

Forex reserves decline to 5-mth low of $654.8 bn

India's foreign exchange reserves dropped by $3.235 billion to $654.857 billion, a five-month low, for the week ended December 6, data released by the Reserve Bank of India (RBI) revealed on Friday.

1 min

SBI seeks counter bids to sell JAL's ₹52K cr debt

State Bank of India (SBI) has invited counter bids from entities interested in acquiring bad debt of ₹52,074 crore in Jaiprakash Associates Ltd (JAL) via a Swiss challenge auction, triggered by an anchor bid from state-owned National Asset Reconstruction Company Ltd (NARCL).

1 min

Brokers will need exchanges approval for each algorithm: Sebi

Algorithms developed by retail investors will need to be registered with exchanges through their brokers.

2 mins

Andhra first to unveil 2047 agenda based on NITI's recommendations

Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday launched the \"Swarna Andhra-2047\" (golden Andhra) vision document aimed at positioning thestate as a $2.4 trillion economy by 2047.

1 min

Nestle ruling fallout: Switzerland revokes MFN status to India

From Jan 1, Indian firms will face higher tax on dividend income

2 mins

Capex to be decided according to country's need, says MoS Finance

Plan for building India's logistics towards becoming a developed nation by 2047 is in the works and spending towards capital expenditure (capex) would be decided according to the country's requirement, Minister of State (MOS) for Finance Pankaj Chaudhary (pictured) told reporters on Friday.

1 min

PM to address chief secys at NITI Aayog meet today

The NITI Aayog on Friday kicked off its three-day conference of chief secretaries and top officials of all States and Union Territories.

1 min

Microfinance growth may nosedive to 4% in FY25

QUALITY CONCERNS

1 min

₹35K cr subsidies needed to meet 2030-31 ethanol-blending target

The Indian Sugar Mills Association (ISMA), in a road map presented to the government recently, said the country would need to increase subsidies to nearly ₹35,000 crore to create an additional 7.70 billion litres of ethanol capacity from sugarcane to achieve blending levels of 20 to 25 per cent by the 2030-31 ethanol supply year (ESY).

1 min

House panel for increased pvt participation in rail infra

After a heated debate on railway privatisation in the Lok Sabha during the current session, the parliamentary standing committee has advised the national transporter to explore ways to increase private sector participation in its infrastructure.

1 min

BJP, Congress accuse each other of dishonouring Constitution's spirit

Rajnath says Congress always chose power over Constitution, draws counter from Priyanka

3 mins

Trump team seeks to shrink or eliminate bank regulators

US President-elect Donald Trump's transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

1 min

New admin may recommend scrapping car-crash reporting

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.

1 min

Apple builds in-house chip for iPhone, Smart Home

Apple Inc's ambitious plan to create in-house components for its devices will include switching to a homegrown chip for Bluetooth and Wi-Fi connections starting next year.

1 min

Musk wants to turn SpaceX base into Texas city

SpaceX is launching a new mission: making its Starbase site a new Texas city.

1 min

Macron names Bayrou as French PM

'There is a path to be found that unites rather than divides people,' says leader of centrist Democratic Movement party

2 mins

Kremlin praises Trump for criticising Ukrainian strikes

The Kremlin praised US President-elect Donald Trump on Friday for criticising Ukrainian missile strikes deep into Russian territory but said discussions about deploying European troops to keep a possible future peace in Ukraine were premature.

1 min

Ukraine suffers massive attack on power infra

Russia launched a massive air-strike against western Ukraine on Friday in what Kyiv described as one of the largest attacks on its power infrastructure since the war started.

1 min

The chessboard whisperers

One of the more interesting aspects of Gukesh Dommaraju's successful campaign for the world championship was the induction of Paddy Upton as part of his team.

3 mins

Left-arm speed merchants

Marrying skill, athleticism, and finesse, Mitchell Starc's bowling is a sight to behold. There is magic in the manner he powers to the crease and flicks the ball with his cocked wrist to generate late swing.

3 mins

Trump's tariffs will backfire

U.S. President-elect Donald Trump appears committed to imposing high tariffs on imports to the United States—or, at least, using the threat of tariffs to bend U.S. trading partners to his will.

3 mins

BJP goes after Foggy Bottom

BJP's attack was not merely on the American 'deep state'. The idea had been acquiring currency across ideological lines for some time and has been given greater legitimacy by Trump

5 mins

The year we thought about institutions

The United States (US) may be about to receive a lesson in overconfidence.

6 mins

The year we thought about institutions

The United States (US) may be about to receive a lesson in overconfidence.

3 mins

Brookfield India Reit raises ₹3,500 crore through QIP issue

Brookfield India Real Estate Trust (Reit) has raised ₹3,500 crore by selling units to institutional investors through qualified institutional placement (QIP) issue mainly to reduce debt.

1 min

Nuvama Wealth buys Oyo shares worth ₹100 cr in secondary market

Nuvama Wealth and Investment Limited has acquired shares worth ₹100 crore in Oyo's parent firm Oravel Stays Limited at ₹53 per share on behalf of its investors, a clutch of family offices, through a secondary market transaction, sources said.

1 min

OMC stocks seem attractive after earnings decline and correction

Results for the first half (H1) of 2024-25 (FY25) of the three oil marketing companies (OMCs)—Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL)—were poor, with accumulated LPG losses, weaker gross refining margins (GRMs), and inventory losses dragging earnings sharply even after allowing for H1FY24's high base.

2 mins

Investors flock back to IPOs with ₹2.2 trn bid

It is not just the secondary market that is witnessing a revival in fortunes. Even the initial public offering (IPO) markets have roared back to life, with investors submitting bids worth over ₹2.2 trillion on the three IPOs that wrapped up on Friday.

1 min

Indian options trade sees 90% volume slump on crackdown

It's been barely a month since India's regulator acted to stem a frenzy in the derivatives market, but the impact is clear.

1 min

Gold may see best year in a decade

Prices have climbed over 30% in 2024 led by central bank purchases, investor buying: WGC report

2 mins

Sebi clarifies on exclusions in pro-rata distribution for AIFs

The Securities and Exchange Board of India (Sebi) on Friday clarified 'exclusions' from the pro-rata distribution mandate for alternative investment funds (AIFs).

1 min

HAL shares take off after Sukhoi deal

Analysts see more upsides in share price of India's largest aerospace firm

2 mins

Choose category by matching horizon with portfolio duration

Shorter-duration debt funds received the bulk of inflows into debt mutual funds in November 2024.

2 mins

NOT LEAVING IT TO CHANCE

A successful Mahakumbh is crucial to building Brand Uttar Pradesh and making the state a $1 trillion economy.

6 mins

Respiratory drug sales get seasonal boost

Sales jumped 66% in Nov from June low

2 mins

Allu Arjun arrested, granted interim bail in Hyderabad stampede case

The Telangana High Court on Friday granted a four-week interim bail to actor Allu Arjun, who was arrested earlier in the day by the city police in connection with the death of a woman during the screening of his latest movie 'Pushpa 2' here last week.

1 min

Mani-smriti

Mani-Talk, the signed column that Mani Shankar Aiyar used to write from 1989 to 1999, was one of the most popular columns in Sunday magazine, the publication I had the honour and privilege of being associated with for more than five years.

4 mins

World Championship decided not just by chess: Gukesh on criticism

New chess world champion D Gukesh is hardly perturbed by the criticism over the standard of his match against China's Ding Liren, saying big matches are not decided purely by how well a game is played but also by willpower and character, which he possesses in ample measure.

1 min

Business Standard dergisindeki tüm hikayeleri okuyun

Business Standard Newspaper Description:

Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.

Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.

Business Standard's editorial team is led by Shyamal Majumdar.

The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.

The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.