Mint Mumbai - November 15, 2024
Mint Mumbai - November 15, 2024
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In this issue
November 15, 2024
After a slow start, auto PLI claims may zoom in future
The first wave of claims for India's automobile production incentives scheme barely touched ₹500 crore, an amount that may grow exponentially in the years ahead as the electric revolution unfolds and more products secure certification.
3 mins
Highway building, environment go hand in hand, says Gadkari
Union road transport and highways minister Nitin Gadkari has said that highways and infrastructure projects, especially in the Himalayan states, were being built in an environment-friendly way and that the allegations of environmental damage were \"completely wrong\".
2 mins
Musk-a-Lago: Inside Musk's role on Trump's transition team
In the lounge outside Donald Trump's Mar-a-Lago office, cabinet hopefuls mingle with advisers and friends of the future president.
5 mins
Fashion begins to go green, but the transition is slow
Customers shopping for upcycled bags to eco-friendly tees are spoilt for choice, as upstart fashion brands chase them with a clutch of options.
2 mins
Key imports take Dubai route to skip China block
Move side-steps curbs that threatened to slow India's green energy, infra goals
3 mins
Lawyers guide firms with US operations as Trump 2.0 looms
Law firms are advising Indian companies operating in the US or engaging in deals with American firms to expect closer scrutiny under the Trump administration, suggesting additional clauses in legal contracts to protect their interests.
3 mins
'FSSAI plans real-time surveillance, tracking, sampling of food items'
A dashboard is being prepared to see live tracking sampling and analysis done across the country. - G. Kamala Vardhana Rao CEO, FSSAI.
2 mins
India ranks 3rd in improving its business environment
The country, as per EIU, is among places where it expects the most key policy improvements
2 mins
Wholesale inflation at four-month high
A Reuters poll of economists expected wholesale inflation to be around 2.2% in October
1 min
MHI holds talks on subsidy for e-trucks
The ministry of heavy industries (MHI) convened an industry consultation in the national capital on Thursday to determine the optimal allocation of its ₹500 crore subsidy outlay for e-trucks under the PM E-drive scheme.
1 min
Trade deficit widens to $27 bn in Oct
The total value of merchandise and services exports touched $73.21 bn in October, up from $65.19 bn in September
2 mins
Porter looks to raise $100 mn from PE firms
The deal is likely to value the decade-old startup at $1.1-1.2 billion
2 mins
SarvaGram raises ₹565 cr to boost biz
SarvaGram Solutions, a Pune-based credit platform that focuses on rural areas, has secured ₹565 crore in a Series D investment round led by Peak XV Partners.
1 min
Clarity on AGR to help raise bank debt, says Voda Idea CEO
Clarity from the government on adjusted gross revenue (AGR) will move the needle on Vodafone Idea Ltd's efforts to raise debt from lenders, its top executive said, adding that promoters, along with the management, were in discussions with banks for raising ₹35,000 crore.
1 min
Pavestone raises nearly $100 mn
Hyderabad-based venture capital firm Pavestone VC, which invests in early- and growth-stage firms, has closed its maiden fund with a corpus of ₹816 crore (about $97 million).
1 min
PW hires new CFO ahead of 2025 IPO
Physics Wallah (PW), the Lightspeed-backed edtech unicorn, has appointed Amit Sachdeva as chief financial officer as it gears up for a public-market debut in 2025.
1 min
Sebi curbs to help boost BSE's Sensex options, says CEO
BSE & NSE have been asked to offer one weekly options expiry as 9 in 10 individuals lose money in index options
1 min
ONGC banks on two key factors
Oil and Natural Gas Corp. Ltd's (ONGC) standalone gross crude realization fell about 8% year-on-year in the September quarter (Q2FY25) to $78.3 a barrel.
2 mins
Tata Chemicals Europe rejig helps, but soda ash is a worry
Tata Chemicals Europe Ltd (TCEL), a subsidiary of Tata Chemicals Ltd, has embarked on a restructuring exercise.
1 min
Reduction of energy costs in the telecom sector
With telecom infrastructure companies looking for newer ways to cut back on energy costs, battery restoration technology provides telecom infrastructure firms with a viable, economical and green solution for uninterrupted power supply
5 mins
'Design cities for next 100 years, think big'
DLF's K.P. Singh calls for the overhaul of India's urban planning approach
2 mins
Muted Q2 sparks a rethink at Mamaearth
Honasa Consumer Ltd, the listed beauty and personal care firm behind Mamaearth, plans to make significant adjustments to its product lineup, marketing approach, and investment allocation across categories to revive growth for its flagship brand, which underperformed in the September quarter.
1 min
Companies scan diversity, inclusion before M&A deals
The rising importance of D&I is closely tied to the growing focus on ESG assessments
3 mins
CCPA orders investigation into Ola Electric
Many customers reported that issues persisted as complaints were closed prematurely without result
1 min
'Revised norms will benefit big auditors'
Proposed revisions in the audit standard for consolidated financial statements of business groups could lead to the concentration of the audit market around big audit firms at the expense of other auditors, said an official of the Institute of Chartered Accountants of India (ICAI), the profession's self-regulator and rule maker.
2 mins
Vaz, Mani and Gupta to head RIL-Disney JV
The ₹70,000-cr media giant is likely to transform entertainment in India
2 mins
It's a legacy agriculture company - and your newest AI vendor
Companies now find it critical to augment general models with more industry-specific data if they're going to be useful
3 mins
Apple iCloud faces antitrust claim
British consumer group Which? will launch legal action against Apple on Thursday, alleging the tech giant breached competition law by effectively locking millions of its customers into its iCloud service.
1 min
Trump and Putin's rapport masks deeper tensions
Warm words between two leaders doesn't necessarily signal a thaw in U.S.-Russia relations
5 mins
Delhivery reports ₹10.2 cr profit in Q2
Delhivery reported a net profit of ₹10.2 crore in the September quarter, against a loss posted a year ago.
1 min
Rupee falls to record low against USD
The rupee traded in a tight range and fell 4 paise to close at an all-time low of 84.43 (provisional) against the US dollar on Thursday, weighed down by unabated foreign fund outflows and strong dollar demand from investors.
1 min
Muthoot Finance Q2 profit rises 26%
Gold loan provider Muthoot Finance reported a 26% rise in its second-quarter profit on Thursday, boosted by strong loan demand, and raised its gold loan growth forecast for the financial year 2025.
1 min
Blackstone revises Haldiram's stake
Blackstone has dropped plans to acquire a majority stake in the snacks business of India's Haldiram's but is now discussing purchase of a 20% stake at a valuation of $8 billion, which is still a sticking point, people familiar with the matter said on Thursday.
1 min
JPMorgan bets on India derivatives
JPMorgan Chase & Co., in a first for any global bank, has set up a unit to develop derivative products in India's newest international hub, according to people familiar with the matter.
1 min
SpiceJet, Canada's EDC settle dispute
SpiceJet on Thursday said it has settled a $90.8 million dispute with Export Development Canada for a total consideration of $22.5 million, leading to the airline taking ownership of 13 Q400 planes.
1 min
SECI barrels down on Reliance Power
SECI banned the power firm from its clean energy tenders for three years.
1 min
India's sports industry to swell to $130 billion by 2030: Report
India's sports industry is set to swell to $130 billion by 2030 from $52 billion in 2023, driven by a surge in multi-sport fan base and deepening engagement from Gen Z audiences, according to a Deloitte-Google report.
1 min
World Bank to lend $150 bn in 10 years for climate projects
India to have a big share of the funding, World Bank's country director (India) said
1 min
StanChart loses 4 financing bankers
Standard Chartered Plc is losing a handful of executives at its financing and credit business across India and Singapore amid a global restructuring and as an active dealmaking market boosts demand for bankers.
1 min
WHICH BLOC'S POPULISM WILL WIN MAHARASHTRA?
Both the ruling Mahayuti and opposition Maha Vikas Aghadi are dangling a slew of welfare schemes to woo the electorate
8 mins
FUNDING FOREIGN EDUCATION: SHOULD YOU SAVE OR BORROW?
Education financing needs vary, but early planning is key to building your desired corpus
2 mins
Why health insurers refuse to cover certain treatments
While 12 modern treatments are covered, many advanced procedures are yet to be included
3 mins
Will my cured illness be eligible for coverage after three years?
My health insurance policy started on 29 June 2022. I was treated for a disease in October 2016. The period between the treatment and the policy start date is over 56 months. As per regulations, pre-existing conditions are those diagnosed within 36 months of policy purchase date. I had a surgery on 29 August 2024. Will my claim for the latest surgery get reimbursed? - Name withheld on request
1 min
Address economic distress with structural reforms and not doles
Cash transfers may offer short-term relief but raising worker incomes is the only lasting solution
3 mins
Aim for an efficient carbon market right from the start
India's economy is projected to grow dramatically over the next few decades. In nominal terms, it may double in size by 2030. This is exciting, but it comes with a significant risk.
3 mins
Speak for the Earth: It's the least we should do
This year's Booker prize winner turns our gaze to the planet from orbit and reminds us of the climate disaster that looms. Can odes sung to Earth move the world to act in its defence?
3 mins
Bankers aren't always frank about bank regulation
The 'world's banker' Jamie Dimon, CEO of JPMorgan Chase, speaks his mind even if it means taking swipes at US regulators.
4 mins
Global solidarity levies can play a vital role in our climate efforts
Solidarity taxes could support redistributive measures and optimize how we collectively tackle a great challenge of our times
3 mins
Baku: A climate breakthrough looks depressingly bleak today
The success of fossil fuel-favouring politics threatens the planet
3 mins
Skip cheese and sip wine in Switzerland
Beyond chocolates and cheese, there's another Swiss gem to discover — vineyards that have been passed down through the generations
4 mins
Mint Mumbai Newspaper Description:
Publisher: HT Digital Streams Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The business newspaper “Mint” published by one of the leading media houses of India, Hindustan Times, in association with Wall Street Journal. It aims to connect India to the world and the world to India in terms of business, economy, regulation and policies...
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