Financial Express Mumbai - December 17, 2024
Financial Express Mumbai - December 17, 2024
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In this issue
December 17, 2024
Advance tax receipts rise 17% in Q3
ADVANCE DIRECTTAX receipts from companies, limited liability partnerships (LLPs) and individuals rose by 16.8% on year for the third quarter of the current fiscal, reflecting some moderation in tax payments.
1 min
Trade deficit widens to record high
At $14.9 billion, November gold imports were more than double the level recorded in October and up 331% on year.
2 mins
Adani, Ambani drop out of elite $100-billion club
INDIA'S TWO RICHEST industrialists, Reliance Industries chairman Mukesh Ambani and Adani Group founder Gautam Adani, have tumbled out of the elite centibillionaires club people with fortunes above $100 billion, according to the Bloomberg Billionaires Index.
2 mins
Drug recalls from US raise export concerns
THE RECENT DRUG recalls by US arms of Indian drugmakers have turned the spotlight back on quality issues faced by the domestic pharma companies in the lucrative export market.
1 min
Strong local demand drives flash PMI to 4-month high
ECONOMIC ACTIVITY EXPANDED at a robust pace in December, mainly due to an uptick in domestic demand conditions.
1 min
WPI inflation eases to 1.89% in Nov as food prices soften
INFLATION BASED ON the wholesale price index (WPI) eased to a three-month low of 1.89% in November from 2.36% in October, thanks to a sharp fall in the prices of key food items such as vegetables and pulses, official data released on Monday showed.
1 min
Govt to allow self-approval for PF withdrawals from next fiscal
EPFO to avail cash credit to address any liquidity crunch
2 mins
Construction of FCI godown 'nil' in FY25, House panel flays govt
A parliamentary panel on Monday pulled up the government for not meeting the godown construction target of the Food Corporation of India (FCI) in the four years till September 2024 and asked the nodal ministry to constitute a high-level committee to expedite the work in the North-East and hilly states.
1 min
Petroleum product exports up 3% in Apr-Nov
INDIA'S EXPORTS OF petroleum products increased by almost 3% to 42 million tonne during April-November from 40.9 million tonne in the corresponding period of last fiscal, according to data from the Petroleum Planning and Analysis Cell.
2 mins
Air India announces upgrades for 2025
TATA GROUP-OWNED Air India on Monday announced plans to revamp its international network schedules, introducing new products to cater to growing international traffic.
1 min
‘Lack of skills, data complexity hindering AI adoption in India'
As Indian enterprises increasingly adopt artificial intelligence (AI), significant barriers such as a lack of expertise, insufficient tools, and data complexity remain.
3 mins
₹16K cr needed for charging infra by '30: Report
INDIA REQUIRES AN estimated capital expenditure of ₹16,000 crore to meet the increasing demand for public EV charging infrastructure and achieve its target of over 30% vehicle electrification by 2030, a Ficci report released on Monday said.
1 min
Tata Starbucks faces pressure, to go slow on store openings
Finding quality real estate a challenge, says Tata Consumer CEO
2 mins
EV penetration slow as costs, lack of charging infra weigh
THE PENETRATION OF electric vehicles (EVS) in India is running significantly behind schedule, with most segments failing to reach even the 5% market share level.
1 min
MSME concerns over steel duty will be looked into: Barthwal
The Directorate General of Trade Remedies (DGTR) has started an investigation into the complaints of dumping of steel in the domestic market and will also take into account the interests of the user industry before firming up its view, a senior official said on Monday.
1 min
After NC, TMC questions EVM talk, Cong claims its issue only with poll panel
AFTER JAMMU AND Kashmir Chief Minister and National Conference (NC) leader Omar Abdullah's dismissal of objections raised by Congress leaders against EVMs, fellow INDIA bloc member Trinamool Congress (TMC) said Monday that there was nothing substantial in the allegations of EVM manipulation.
2 mins
Those not made ministers not disappointed: Maha BJP chief
MAHARASHTRA BJP CHIEF Chandrashekhar Bawankule on Monday said there is \"no disappointment\" among senior leaders of the Mahayuti alliance on not being made ministers in the Devendra Fadnavis government.
1 min
Won't allow use of our territory against India's interests: Lanka
SRI LANKAN PRESIDENT Anura Kumara Dissanayake on Monday assured New Delhi that Colombo will not permit the island nation's territory to be used \"in a manner that is detrimental to the interest of India\".
2 mins
Aide's confession: Bishnoi gets special facilities in prison
Authorities in the Sabarmati prison denied the allegations, When contacted, authorities in the Sabarmati prison denied the allegations, saying
1 min
Swiss tax action won't hit trade pact: Officials
The decision of Switzerland to suspend the most favoured nation clause in its Double Taxation Avoidance Agreement with India will not have any impact on the investment commitments under the Trade and Economic Partnership Agreement that the EFTA has signed, commerce secretary Sunil Barthwal said on Monday. He was asked whether the Swiss decision would impact the EFTA's $100-billion investment commitment. Another official said even though tax rates for Indian firms in Switzerland may go up to 10% from 5%, it is unlikely to impact investments from the bloc.
1 min
Doval set to visit China for special representative talks
MOVES ARE AFOOT to schedule the meeting of the Special Representatives of India and China which would mean National security advisor Ajit Doval will travel to Beijing - as early as this week, sources said.
1 min
2024 to end with record office space leasing: Report
INDIA'S OFFICE LEASING market is expected to achieve a milestone in 2024, with gross leasing volumes (GLV) projected to reach 83-85 million sq ft, marking a 13% year-on-year increase over the previous peak in 2023, a report said on Monday.
1 min
IT hiring may stay low till H2FY26
HIRING IN THE Indian IT services industry is expected to remain low-key in the near term until the growth momentum picks up by H2FY26, according to Icra.
1 min
India leading in AI adoption: Report
INDIAN ENTERPRISES ARE leading in the adoption and experimentation with artificial intelligence as compared to the global average, according to a report by data integration, analytics, and artificial intelligence (AI) service provider Qlik.
1 min
Dixon's FY25 smartphone volumes may hit 30 mn
Benefit of JV with Vivo to be seen in FY26, says firm
2 mins
Blackstone emerges top bidder for Haldiram deal
A CONSORTIUM LED by Blackstone has emerged as the preferred bidder for a minority stake in Haldiram Snacks, sources following months of negotiations on a potential deal.
1 min
Lobana appointed Google's India V-P
TECH GIANT GOOGLE on announced the Monday appointment of Preeti Lobana as the new country manager and vice president for India.
1 min
HDFC Bank gets warning from Sebi, second in a week
HDFC BANK ON Monday said it has received a second administrative warning from the Securities and Exchange Board of India (Sebi) within nearly a week, due to a three-day delay in disclosing the resignation of its mortgage business head Arvind Kapil in March this year.
1 min
Despite CRR cut, call rates jump above MSF
TOUGH ROAD AHEAD
2 mins
PSBS split over perquisite tax liability for employees
@ SBI, BoB cover tax; PNB, Union Bank offer loans to staff
2 mins
High reinsurance costs a bigger worry for life insurers
Aditya Birla Sun Life Insurance (ABSLI), which ended FY24 with around ₹17,500 crore in gross written premiums (GWP), aims to double its business in the next three years.
3 mins
RBI governor urges colleagues to strive for perfection
RBI GOVERNOR SANJAY Malhotra on Monday urged staff to aim for perfection in their duties, emphasising continuous improvement as the institution enters a new era.
1 min
Urban growth takes a toll
TOLLING IN WHAT HAVE BECOME ARTERIAL ROADS IN CITIES GETS A PUSHBACK FROM CITIZENS
3 mins
The Swiss confusion
Constantly varying interpretations of treaty provisions can potentially dent India's image
2 mins
Mega deals won't lead M&A rebound Under Trump
US BANKERS ARE rubbing their hands at an expected boom in dealmaking under a market-friendly President-elect Donald Trump next year. But scratch the surface and it is apparent that the mergers and acquisitions to come are far more likely to be among smaller companies. Mega deals won't lead the way.
2 mins
Upgrade cross-border payments
With India being the world's largest recipient of remittances since 2022, the urgency to modernise its payment systems has never been greater
3 mins
Dabur to leverage new launches
Plans to acquire new customers, boost order frequency
1 min
Apollo Tyres: Cost pressure to persist in Q3
Aims to expand network with focus on micro-regions
2 mins
Long-term outlook positive for cement sector
GROWTH MOMENTUM CONTINUES
1 min
EU plans $11-bn satellite network to rival Starlink
THE EUROPEAN UNION (EU) is committing to build a ₹10.6 billion ($11.13 billion) constellation of satellites that will provide the bloc with encrypted global internet connectivity in a bid to provide a homegrown alternative to Elon Musk's Starlink.
1 min
Popeye, Tintin to enter public domain in '25
POPEYE CAN PUNCH without permission and Tintin can roam freely starting in 2025.
1 min
Israeli strikes missile warehouses in Syria
A UK-BASED war monitor says Israeli airstrikes early Monday hit missile warehouses in Syria and called it the \"most violent strikes\" since 2012.
1 min
Senate probe finds Amazon manipulates workplace injury data
FOR YEARS, WORKER advocates and some government officials have argued that Amazon's strict production quotas lead to high rates of injury for its warehouse employees.
1 min
Trump transition team to roll back Biden EV policy
Regulations on fossil-fuel cars likely to be eased
1 min
Chancellor Scholz loses vote of confidence in Germany
THE GERMAN PARLIAMENT accepted Chancellor Olaf Scholz's invitation to withdraw its confidence in him and his government on Monday, clearing the way for the February 23 early election necessitated by the collapse of his government.
1 min
Canadian FM quits after clash with PM
CANADA'S FINANCE MINISTER Chrystia Freeland quit on Monday after clashing with Prime Minister Justin Trudeau on issues including how to handle possible U.S. tariffs, dealing another blow to an already unpopular government.
1 min
SoftBank CEO to unveil $100-bn investment in US
SOFTBANK GROUP CEO Masayoshi Son will announce a $100 billion investment in the United States over the next four years during a Monday visit to US President-elect Donald Trump's residence, Mar-a-Lago, CNBC reported.
1 min
Pakistan cuts interest rates to lowest in over 2 years
PAKISTAN'S CENTRAL BANK cut its key policy rate by 200 basis points to 13% on Monday, it said in a statement, its fifth straight reduction since June to revive a sluggish economy.
1 min
LG eyeing up to $15 billion valuation for India unit IPO
BAIJU KALESH, YOOLIM LEE, JULIA FIORETTI DAVE SEBASTIAN December 16
1 min
Rupee falls 11 paise to a new low of 84.91/dollar
THE RUPEE DEPRECIATED by 11 paise to close at an all-time low level of 84.91 against the US dollar on Monday, dragged down by a negative trend in domestic equities.
1 min
Zerodha hits $1-billion revenue mark in FY24
Zerodha posted a revenue from operations of ₹9,372 crore or a little over $1.1 billion in FY24, marking a 37% increase from ₹6,832 crore it generated in FY23.
1 min
The Ustad whose tabla blurred boundaries
IT ISN'T OFTEN that a percussionist finds life in the intricacies of punctuation.
4 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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