INDIAN ECONOMY
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In line with the tight funding environment, fundraising in India’s venture capital market has slowed significantly since last year. The first half of 2024 saw the close of 21 new venture capital funds with only $1.3 billion in commitments, according to a report by Pitchbook, while the entire 2023 has seen 23 ...
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India's wholesale price index rose 1.31% in August from a year earlier, government data released on Tuesday showed.
Economists polled by Reuters had estimated wholesale price inflation at 1.85% in August. Inflation was at 2.04% in July.
Food prices rose 3.26% year-on-year from a 3.55% increase in July. ...
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In expectation of a good harvest, the union government announced a number of decisions on trade. In addition, some more easing of export restrictions on non-basmati rice and sugar can be expected in the next couple of months.
The most important announcement was to raise import duty on edible oils as the so...
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The average daily footfall across major shopping malls fell by up to 10 per cent sequentially during the April-June quarter. The dip has been attributed to extreme heat, a lack of major film releases, weeks-long parliamentary elections, according to a report from the data intelligence firm, GeoIQ. Of the 30 m...
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The BJP-led NDA government has approved infrastructure projects worth Rs 3 lakh crore, including linking 25,000 unconnected villages to road networks and building a mega port at Wadhawan in Maharashtra, during its first 100 days in office, Home Minister Amit Shah said on Tuesday. Besides infrastructure, the f...
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India has undergone a remarkable economic transformation over the last decade, emerging as the world’s fifth-largest economy. Driven by robust policies, GDP growth reached 6.7%, outpacing global giants like the US and China. Reforms under Prime Minister Modi attracted foreign investment, increased FDI equity ...
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The government is considering tapping into purchases made through quick commerce platforms such as Zepto, Blinkit, Instamart and BigBasket to understand changes in consumption patterns and pace of economic activity as part of an exercise to revise the base year for national accounts and various other official...
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Reserve Bank of India (RBI) Governor Shaktikanta Das has said the decision on interest rate moderation will be based on long-term inflation trajectory and not monthly data. The Monetary Policy Committee (MPC) headed by the RBI Governor is scheduled to meet between October 7 and 9 and take call on interest rat...
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Tata Steel on Monday said Odisha would emerge as the company's single-largest investment destination after the phase-II expansion of its Kalinganagar plant from 3 million tonnes per annum to 8 mtpa. The steel major has invested Rs 27,000 in phase-II of the Kalinganagar plant expansion, and the company is on t...
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The government has completed the Household Consumption Expenditure Survey (HCES) exercise for 2023-24, and preliminary analysis shows that its results are largely similar to the one of 2022-23, a senior official told FE. So, the 2022-23 survey results are most likely to be used for formulating the new Consume...
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MARKET & FINANCE
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Indian firms, including non-banking financial companies, have filed proposals in July 2024 with the Reserve Bank of India (RBI) to raise $3.58 billion through External Commercial Borrowings (ECBs). The entire funding to be raised is through the automatic route.
According to RBI data, among the prominent firm...
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Amid a booming initial public offering (IPO) market, banks are pursuing short-term gains. A recent report from markets regulator Sebi has revealed that nearly 80% of banks offload their allotted shares within the first week of listing.
Banks’ strategy of quickly selling shares appears to be profit-driven, ...
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The Securities and Exchange Board of India (Sebi) reduced the time taken for credit of bonus shares and trading of such shares from the record date of the bonus issue.
In a press release, the market regulator listed out the operational procedure for the same.
1. The issuer proposing a bonus issue shall ...
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GLOBAL CORPORATE
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Microsoft said on Monday its board has approved a new share buy back program of up to $60 billion.
The tech giant declared a quarterly dividend of $0.83 per share, reflecting an 8 cent, or 10%, increase over the previous quarter.
Microsoft said it will hold its annual shareholders meeting on Dec. 10.
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Microsoft CEO Satya Nadella said that his company is currently grappling with a "productivity" paradox owing to which most managers reported that employees have been slacking off work. On the contrary, employees claimed that they have been working too hard, the Microsoft boss said during a chat with LinkedIn ...
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In response to the ongoing factory workers' strike that began last week, Boeing has announced a series of measures "to preserve cash and safeguard future".
Chief financial officer (CFO) Brian West outlined 10 immediate cost-cutting initiatives in a memo to employees, including a company-wide hiring freeze, a...
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Tupperware Brands is preparing to file for bankruptcy as soon as this week, Bloomberg News reported on Monday, citing people with knowledge of the plans.
The company's shares were down 15.8% at 43 cents after the bell. They closed down 57%.
Founded in 1946 by chemist Earl Tupper, the company's popularit...
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Nomura, Japan's largest investment bank and broking firm, has jumped into the race to acquire homegrown investment bank Avendus, a KKR portfolio company, said people in the know, switching from advisor on the deal to interested party. The Avendus sale process has already seen keen interest from Japanese finan...
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Intel Corp. said on Monday that it’s eligible to receive as much as $3 billion in US government funding to manufacture chips for the military, confirming earlier reporting by Bloomberg.
The effort, called the Secure Enclave, aims to establish a steady supply of cutting-edge chips for defense and intellige...
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Outside an Audi factory in Brussels described by the German carmaker as the "cradle" of its electric drive, around 200 picketing workers huddled around a bonfire in the morning drizzle.
The firm is considering closing the plant, a move that analysts say is symptomatic of the troubles afflicting Europe's wi...
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Intel lost out on a contract to design and fabricate Sony's PlayStation 6 chip in 2022, which dealt a significant blow to its effort to build its fledgling contract manufacturing business, according to three sources with knowledge of the events.
The effort by Intel to win out over Advanced Micro Devices in...
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The Centre last week eased export curbs on key commodities while raising the import duties on some in order to lift farm gate prices and also keep inflation in check. Observers say measures that were announced just weeks before the Assembly polls in Haryana, Jharkhand, Jammu & Kashmir, and Maharashtra were me...
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PwC is making "tangible investments" to ensure the Big Four firm has high quality and sustainable business in China, it said in a memo to staff after Chinese regulators on Friday hit the company's mainland unit with a record penalty.
PwC Zhong Tian LLP was hit with a six-month suspension and a fine of 441...
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Italy backs tariffs proposed by the European Commission on Chinese exports of electric vehicles (EVs), Italian Foreign Minister Antonio Tajani said on Monday before a meeting in Rome with China's commerce minister.
"We support the duties that the EU Commission proposes, to protect the competitiveness of o...
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GLOBAL ECONOMY
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July 2019 |
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Indonesia's trade surplus rose to a three-month high in August, topping forecasts, as exports grew much faster than expected, official data showed on Tuesday.
The August trade data is among economic indicators the central bank ...
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Retail sales across the United States are showing good signs of upscaling and profit, even amid concerns of a possible recession, which is good news for small store executives. It also indicated that the worst phase of the economy...
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The entire world could be feeling the effect of an impending recession in a country, something that is already raising alarms across worldwide stock markets. China, one of the most powerful countries in terms of international trad...
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For more than a decade, Li Dongmei operated a series of kindergartens and schools for young children, withstanding the realities of China's declining birthrate. She finally faced the music in 2020.
The shrinking number of child...
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Starting December 1, 2024, Thailand will roll out an Electronic Travel Authorisation (ETA) system for visa-exempt travellers, including visitors from India. The aim, according to its Ministry of Foreign Affairs, is to streamline i...
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INDIAN CORPORATE
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Tata Power plans to invest about 700-750 billion rupees ($8.95 billion) to expand its renewable energy capacity over the next five to six years, Chief Executive Officer Praveer Sinha said on Tuesday.
The company expects 15 giga...
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ReNew Power, one of the leading renewable energy players in India, has announced plans to increase its capacity to 50 GW from its current portfolio of ~15.6 GW, as of August 15, 2024. Additionally, ReNew has also committed to inv...
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Reliance Power has entered the renewable energy and storage sector as it has bagged a tender from the Solar Energy Corporation of India (SECI) to set up a 500 MW/1000 MWh battery energy storage system (BESS). This project was awar...
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The Kenya Electricity Transmission Co. said it’s still in talks with Adani Energy Solutions Ltd. for the construction of three power lines, contradicting a presidential adviser who announced that two companies including the Indian...
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Adani Enterprises Ltd. and Wilmar International Ltd. are expected to start the sale of a minority stake in their consumer joint venture Adani Wilmar Ltd. as early as next month to abide by shareholding regulations, according to pe...
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Torrent Power Limited on Monday announced that it has committed investment worth Rs 64,000 crore at the fourth edition of ‘RE-Invest 2024’ in Gandhinagar, with the potential of giving employment to 26,000 people. In a regulatory f...
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