CATEGORIES

US Treasury says its system hacked, China behind it

THE US TREASURY Department was hacked by a Chinese state-sponsored actor through a third-party software service provider, according to a letter the agency sent to Congress on Monday.

China's 2024 GDP growth set to hit target of 5%, says Xi

PREZ SAYS NEXT YEAR HE WILL IMPLEMENT MORE PROACTIVE POLICIES

South Korea Issues Arrest Warrant for Impeached Prez

A SOUTH KOREAN court gave authorities approval on Tuesday to detain impeached President Yoon Suk Yeol in a criminal investigation into his martial law decree, marking the first time that a sitting president of the country has faced arrest.

Indices Post Positive Returns for Ninth Consecutive Calendar Year

THE SENSEX AND NIFTY recorded gains of 8.2% and 8.8%, respectively, in 2024, marking positive returns for nine consecutive calendar years—the longest winning streak.

Re closes at new all-time low

THE RUPEE CLOSED at a fresh low due to broad-based dollar bids and declining Chinese yuan, said forex traders.

Sebi Launches MF Lite Scheme to Strengthen Passive Funds

Sebi on Tuesday announced the launch of the Mutual Funds Lite (MF Lite) framework to simplify the compliance process for entities launching passively managed mutual fund schemes.

Sensex, Nifty fall in final session

BENCHMARK INDICES Sensex and Nifty ended lower on the final session of 2024 on Tuesday amid persistent foreign fund outflows and weak trends in the global markets.

FPIs Again Turn Net Buyers of Govt Securities in Dec

AFTER TURNING NET sellers of government bonds under the fully accessible route (FAR) for the first time since India's inclusion in the JP Morgan Global Market Index - Emerging Suite in November, foreign portfolio investors (FPIs) have again turned net buyers in December.

Gold set to shine brighter in 2025

Easing interest rates and geopolitical tensions could fuel a golden rally

CCI Seeks More Info on Charges Against Quick-Commerce Firms

The Competition Commission (CCI), which has received a complaint of anti-competitive practices against quick commerce companies, is waiting for more information on the allegations from the complainant before taking a decision on the matter.

Thomas Cook reports cyberattack on IT infra

Thomas Cook (India) on Tuesday said there has been a cyberattack on its IT infrastructure and it is working with security experts to support its investigation and take remedial action.

RIL Spent $13 Billion on Acquisition in 5 Years

Reliance Industries has spent $13 billion on acquisitions in the past five years across new energy, telecom, retail, and media businesses to script a pivot away from core oil and petrochemicals business to clean energy and consumer-facing verticals.

BAA plans to open pilot training centre in India

BAA TRAINING, A global aviation training provider, is considering establishing a pilot training centre in India to capitalise on the predicted surge in air travel demand in the country.

Investor confidence powers semiconductor startups

SEMICONDUCTOR STARTUPS ARE riding a wave of increased investor confidence, with total funding in 2024 reaching $21.3 million, according to Tracxn.

BPCL Boosts West Asian Oil Imports

● Oil imports from Russia slipped to 1.47 mn barrels/day

Atul, Rahul Kirloskar to challenge Sebi order on family settlement

ENTITIES UNDER ATUL and Rahul Kirloskar's control - Kirloskar Oil Engines (KOEL), Kirloskar Industries (KIL), Kirloskar Pneumatic (KPCL), and Kirloskar Ferrous (KFL) - are gearing up for a legal battle against a Securities and Exchange Board of India (Sebi) directive.

Blinkit Launches Large Order Fleet in Delhi, Gurugram

Blinkit, the quick commerce arm of Zomato, has launched a large order fleet in Delhi and Gurugram to handle large orders, including electronics and party supplies.

IT companies set for gradual Q3 recovery with BFSI boost

• Mid-tier IT firms likely to outpace industry majors

Emerging tech to spur 20% job growth in India

INDIAN IT ECOSYSTEM is poised for a promising growth trajectory in the coming years with emerging technologies expected to witness a 20% increase in new jobs in 2025, Human Resources (HR) platform First Meridian Business Services said on Tuesday.

Tigress Zeenat taken to Odisha

AFTER TERRORISING VILLAGERS in Jharkhand and West Bengal, tigress Zeenat on Tuesday night was on the way back to Similipal Reserve Forest in Odisha from where she escaped about three weeks back, officials said.

ICAI's global networking norms restrictive: Big Five

The international networking guidelines being worked upon by the Institute of Chartered Accountants of India (ICAI) are restrictive, two partners at Big Five audit firms told FE.

World Bank's 'B-Ready' score: Report flags India's challenges

INDIA MAY FACE challenges in achieving good scores on parameters like business entry, labour regulations, and international trade in the World Bank's Business Ready report, according to think tank GTRI.

Revised standards for organic products soon

India will soon unveil updated standards for organic agricultural products to bring them at par with the latest European Union’s (EU) grade to bring in more clarity and transparency in the processes while strengthening the regulatory oversight through data analytics, a senior official said.

Spurious drugs worth ₹6.6 cr seized in Kolkata

A JOINT INVESTIGATION conducted by the Central Drugs Standard Control Organisation (CDSCO) and the Drugs Control Directorate, West Bengal at the premises of a wholesale firm in Kolkata recently led to the seizure of spurious drugs estimated to be worth ₹6.6 crore.

Coffee exports surpass $1-bn mark in Apr-Nov

TRADITIONALLY A TEA exporter, India is making significant inroads into the global coffee export market with total exports during the current financial year up to November crossing the $1-billion mark for the first time, according to data from Centre for Monitoring Indian Economy (CMIE).

Capacity of wheat silos to triple in three years

THE GOVERNMENT is aiming to build 9 million tonne (MT) of wheat silos capacities over the next three years, from a current level of 2.8 MT of state-of-the-art grain storage facilities.

GTRI: Exports cross $800 billion in 2024

INDIA'S OVERALL EXPORTS in calendar year 2024 likely touched $814 billion, growing at 5.58% year-on-year, according to a report by trade policy think tank Global Trade Research Initiative (GTRI).

Govt firms up plan to widen ambit of quality control for steel

1,000 more grades to be brought under BIS standards; move will check imports too

Coal stocks at thermal units improve to 72%

COAL STOCKS AT the country's thermal power plants improved to 72% of the normative level as of December 30, compared to just 58% in the same period of last year, data from the Central Electricity Authority showed.

Core sector growth in Nov at four-month high of 4.3%

Economists expect overall industrial growth to be 5-7%