CATEGORIES

Apollo weighs $9.5-bn stake in Seven & i buyout

Apollo Global Management is considering taking a substantial stake in a bid by Seven & i's founding Ito family to take the Japanese convenience store operator private, people familiar with the matter said.

LA Wildfires Rage for Third Night, Death Toll Rises to 10

FIREFIGHTERS REPORTED SOME progress fighting the wildfires that have charred hillsides, homes and streets in Los Angeles County, but the strong winds that fanned the flames were expected to pick up again on Friday, worsening conditions.

Hush money case: Trump avoids jail and punishment

US PRESIDENT-ELECT Donald Trump will not go to jail or face any other punishment for his criminal conviction stemming from hush money paid to a porn star, a judge ruled on Friday but said Trump's Jan. 20 inauguration would not erase the jury verdict.

Rupee ends at 85.97 after breaching 86-mark for first time

THE RUPEE DECLINED 11 paise to close at 85.97 against the US dollar on Friday as it failed to resist pressure from a stronger American currency amid huge outflow of foreign funds.

NaBFID Plans Record ₹40K-Cr Fundraising

STATE-OWNED NATIONAL BANK for Financing Infrastructure & Development (NaBFID) is targeting its largest-ever fundraising for the January-March period to back the nation's ambitious growth push.

Fx reserves at 10-month low as rupee pressure mounts

FOREIGN EXCHANGE RESERVES fell for the fifth consecutive week to a 10-month low of $634.59 billion as of January 3, data from the Reserve Bank of India showed on Friday.

Capital fundraising to rise 21% this fiscal: Sebi chief

● Regulator will soon launch SIPs with a minimum amount of ₹250

Liquidity woes prompt RBI to hold largest VRR auction in a year

AS THE LIQUIDITY deficit deepens further, the Reserve Bank of India (RBI) on Friday conducted its largest variable rate repo (VRR) auction in nearly a year with a notified amount of ₹2.25 lakh crore.

SBI chairman for tracking of funds raised by small biz

STATE BANK OF India chairman CS Setty on Friday pitched for the creation of a market infrastructure institution to track the end-use of funds borrowed or raised as equity by small businesses.

AI-powered healthcare firm Innovaccer raises $275 mn

SAN FRANCISCO AND NOIDA-HEADQUARTERED artificial intelligence-powered healthcare platform Innovaccer has raised $275 million in a Series F funding round, marking its first capital infusion since 2021.

Byju's staff files ₹177-cr claims

In the ongoing corporate insolvency resolution process of Byju's, employee claims filed as operational creditors have reached ₹177.5 crore, with approximately ₹32.56 crore being provisionally admitted by the resolution professional (RP), according to a document reviewed by FE.

Vi Exits Indus With ₹2.8K-Cr Stake Sale

BRITISH TELECOM FIRM Vodafone has sold its entire stake in Indus Towers for ₹2,800 crore, the telecom infrastructure firm said on Friday.

SpiceJet Set To Bring 10 Planes Back To Service Amid Dip In Operations

● The return of these planes will boost the carrier's fleet to 38 aircraft

Growth trajectory set to return for Reliance Retail in Dec quarter

● Consolidation period over, say analysts

Adani raises ₹4,850 cr from sale of 13.5% stake in Wilmar

ADANI GROUP ON Friday raised ₹4,850 crore from the sale of 13.5% of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business.

Infy counter-sues Cognizant

● Alleges data misuse and anti-competitive conduct by US firm

Appliances association prez seeks smartphone PLI 2.0

AS THE SMARTPHONE production-linked incentive (PLI) scheme emerges as one of India's most successful policies, the industry is advocating for another round of the scheme to achieve greater scale and sustain its momentum.

Bistro app not to use Zomato data, says Blinkit's Dhindsa

BLINKIT'S QUICK FOOD delivery app Bistro will operate independently and it will not use any data from its Gurugram-based parent Zomato's food delivery and dining-out operations, Blinkit CEO Albinder Dhindsa clarified on Friday.

Luxury car segment ended 2024 on a muted note despite robust demand

INDIA'S LUXURY CAR market, represented by five major automotive brands, saw paltry growth in 2024 as supply chain issues impaired the upturn despite robust demand.

India to Join Key Session on AI, FDI at WEF 2025

INDIA WILL PARTICIPATE in a session on artificial intelligence (AI) and foreign direct investment (FDI) at the World Economic Forum (WEF) annual meeting in Davos, the commerce and industry ministry said on Friday.

In a first, selection process for next CEC casts wider net

THE NET FOR choosing the next Chief Election Commissioner (CEC) could be cast wider as the successor to Rajiv Kumar may be picked from a shortlist of five current or former bureaucrats.

Private Insurers Show 239% Jump in Motor Commission Payouts

In Fiscal Ended FY24

Government seeks to turn startup focus to manufacturing

Capital Concern

Experts pick holes in govt claim of sharper employment growth

Say picture is grim with 'distress employment' and 'rising' farm-sector jobs; KLEMS not a robust data source

IGX expects to receive nod for long-duration contracts soon

The Indian Gas Exchange (IGX) is planning to launch long-duration contracts of 3-6 months on its platform and is expecting the petroleum ministry's nod soon, its managing director and chief executive officer Rajesh Mediratta said on Friday.

Factory production grows at six-month high of 5.2% in Nov

INDIA'S INDUSTRIAL OUTPUT in November expanded at 5.2%, the highest pace in six months, on the back of a sharp uptick in manufacturing, according to data released by the government on Friday.

Dec tax devolution to states at ₹1.73 lakh cr

TO ACCELERATE SPENDING by states amid a moderation in the public capital expenditure, the Centre on Friday released ₹1.73 lakh crore in tax devolution to states for January as against the monthly devolution of ₹89,086 crore for December.

Climate-resilient farming likely to get funding boost

Run-Up To The Budget 2025-26

New Classification May Ease Approval for Medical Devices

The Central Drugs Standard Control Organisation's draft rules for reclassification of medical devices based on their risk profile has received wide support from the industry, as it will allow centralised and faster approval of high-risk equipment.

Sebi in favour of doubling floor for FPI disclosures

IN A MOVE that will bring relief to foreign portfolio investors (FPIs), the Securities and Exchange Board of India (Sebi) has proposed a doubling of the additional disclosure threshold for FPIs with an exposure of ₹25,000 crore.