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    BUSINESS

    HDFC Bank gets RBI approval to raise stake in IndusInd Bank to 9.5 per cent

    HDFC Bank has received RBI approval to raise its stake in IndusInd Bank up to 9.5 per cent. The clearance is subject to compliance with banking, securities and foreign exchange regulations, and bars board representation New Delhi: HDFC Bank has got the Reserve Bank’s nod to hike its stake in another private sector lender, IndusInd Bank, up to 9.5 per cent. “We would like to inform you that the Reserve Bank of India (RBI) vide its letter dated December 15, 2025, has accorded its approval to HDFC Bank (applicant) to acquire ‘aggregate holding’ of up to 9.50 per cent of the paid-up share capital or voting rights in IndusInd Bank,” IndusInd Bank said in a regulatory filing. The RBI approval has been granted with reference to the application made by HDFC Bank, it said. “The approval granted by RBI is subject to compliance with the relevant provisions of the Banking Regulation…
    BUSINESS

    Unemployment rate falls to seven-month low of 4.7 per cent in November

    India’s unemployment rate fell to a seven-month low of 4.7 per cent in November 2025, driven by stronger rural employment and rising female participation, signalling improving labour market conditions despite urban joblessness remaining higher New Delhi: Unemployment Rate (UR) for persons aged 15 years and above declined to a record low of 4.7 per cent in November 2025, compared to 5.2 per cent in the previous month of October 2025. The UR among persons aged 15 and above decreased to 4.7 per cent in November 2025, the lowest level since April 2025, according to the Ministry of Statistics and Programme Implementation (MoSPI). The Ministry further stated that in November 2025, the rural UR fell to a new low of 3.9 per cent, while the urban UR decreased to 6.5 per cent, matching its previous lowest level recorded in April 2025. The joblessness rate was 5.1 per cent in April 2025. According…
    BUSINESS

    India seeks WTO consultations with EU over ferro-alloy import curbs

    India has sought consultations with the European Union at the WTO over safeguard measures imposing import quotas on certain ferro-alloy elements. New Delhi said the curbs would impact Indian exports, even as India and the EU negotiate a free trade agreement New Delhi: India has sought consultations with the European Union under the World Trade Organisation’s (WTO) safeguard agreement over the EU’s decision to impose import quotas on certain ferro-alloy elements, used in the iron and steel industry. According to a communication circulated by the World Trade Organisation (WTO), India has a major trade interest in the export of these elements. The imposition of duties under the safeguard measures over a certain quota will impact exports of these items from India to the EU. The measures will be in place for three years. “As a member having a substantial trade interest in the export of products concerned, India hereby requests consultations with the…
    BUSINESS

    Stock markets decline in early trade dragged by foreign fund outflows, weak global trends

    Indian equities opened lower as Sensex and Nifty fell amid persistent foreign fund outflows, weak global cues and risk-off sentiment. Asian and US markets declined, while select stocks gained. FIIs sold, DIIs supported, limiting deeper downside during early Tuesday trade Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Tuesday as persistent foreign fund outflows and weak global market trends dented investors’ sentiment. The 30-share BSE Sensex declined 363.92 points to 84,849.44 during initial trade. The 50-share NSE Nifty dropped 106.65 points to 25,920.65. From the Sensex firms, Eternal, Axis Bank, HCL Tech, Infosys, Tata Steel, and Bharat Electronics were among the major laggards. However, Bharti Airtel, Asian Paints, Tata Motors Passenger Vehicles, and Titan were among the gainers. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng index quoted lower. US markets ended in negative territory on Monday.…
    BUSINESS

    With $600 bn net worth, Musk moves closer to becoming world’s first trillionaire

    Elon Musk has become the first person to cross a $600 billion net worth, driven by rising valuations of SpaceX, Tesla and xAI. The billionaire is now widely seen as moving towards becoming the world’s first trillionaire. New Delhi: Tesla and SpaceX CEO Elon Musk has taken another step towards becoming the world’s first trillionaire, according to reports. With his company SpaceX reportedly launching a tender offer, valuing the firm at $800 billion, Musk’s net worth has surged by $168 billion to an estimated $677 billion, according to reports. Musk is now the first person ever worth $600 billion or more, reports Forbes. SpaceX is aiming for an initial public offering (IPO) next year that may value the firm at around $1.5 trillion. Musk’s 12 per cent stake in electric vehicle maker Tesla is worth $197 billion, excluding stock options. Moreover, Musk’s xAI Holdings is reportedly in talks to raise new…
    BUSINESS

    Equity markets decline in early trade dragged by services, realty stocks, FII outflows

    Sensex and Nifty fell in early trade due to losses in services and  realty stocks and continued FII outflows. Despite strong economic indicators and expected earnings growth, volatility persists amid rupee depreciation and global cues ahead of key US inflation and Fed meetings Mumbai: Equity benchmark indices Sensex and Nifty declined in early trade on Monday weighed down by losses in services and realty stocks and sustained foreign fund outflows. The 30-share BSE Sensex dropped 316.52 points, or 0.37 per cent, to 85,395.85 in the morning trade. The 50-share NSE Nifty declined by 106.70 points, or 0.41 per cent, to 26,079.75. From the Sensex firms, Bajaj Finance, Bharat Electronics Ltd, Axis Bank, Bajaj Finserv, Maruti Suzuki India, Asian Paints, Mahindra & Mahindra, NTPC, ICICI Bank, PowerGrid, Hindustan Unilever and Larsen & Toubro were the laggards. However, Tech Mahindra, Infosys, Eternal, Reliance Industries, Tata Motors Passenger Vehicles, Tata Consultancy Services, Trent, HCL Technologies and…
    BUSINESS

    Rupee falls 16 paise to 90.11 against US dollar in early trade

    The rupee weakened to 90.11 per US dollar amid high crude prices and persistent FPI outflows. Strong corporate dollar demand, RBI’s recent rate cut impact, and anticipation of the Fed’s policy decision added pressure, while India–US trade talks begin December 10 Mumbai: The rupee depreciated 16 paise to 90.11 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and persistent foreign fund outflows. Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors pressurised the rupee. At the interbank foreign exchange, the rupee opened at 90.07 against the US dollar then dropped to 90.11, down 16 paise from its previous close. On Friday, the rupee settled at 89.95 against the US dollar, after the Reserve Bank of India cut the key policy interest rate for the first time in six months. Forex traders said investors’ focus has now shifted to the Fed’s…
    BUSINESS

    UIDAI to mandate registration for Aadhaar offline verification entities

    UIDAI is set to notify a new rule requiring hotels, event organisers and other entities conducting Aadhaar-based offline verification to register for access to QR code and app-based authentication. The upcoming app aims to enhance privacy, reduce paper use and streamline verification. New Delhi: A new rule to discourage entities like hotels, event organisers, etc, from taking photocopy of Aadhaar cards of customers and storing them in physical form will be published soon, a senior government official said. Such practices are in contravention of the present Aadhaar Act.The Unique Identification Authority of India (UIDAI) CEO Bhuvnesh Kumar told PTI that the authority has approved a new rule mandating registration of entities that seek Aadhaar-based verification like hotels, event organisers, etc, to provide them access to a new technology that will enable them to verify an individual by scanning QR code or connecting with new Aadhaar app in the works, the top…
    BUSINESS

    Coking coal imports rise in Oct on winter restocking, general coal shipments decline

    In October, overall coal imports fell 3.9% due to surplus domestic supply, while coking coal imports rose 12% driven by winter restocking. Government initiatives like the Coking Coal Mission aim to boost domestic production and reduce reliance on imports New Delhi: Coal imports in October saw a mixed trend with general coal shipments declining while coking coal imports rose. The fall in overall coal imports was on account of availability of surplus coal in the domestic market. Coking coal shipments increased 12 per cent to 5.04 million tonnes (MT) during the month over 4.50 MT a year earlier, driven primarily by winter restocking activities by steel mills. Coking coal is a critical raw material used in steel production. Overall coal imports in October dropped 3.9 per cent to 20.97 MT over 21.84 MT in the year-ago period, according to B2B e-commerce platform mjunction services ltd. According to industry experts, steel manufacturers…
    BUSINESS

    Mcap of five of top-10 most-valued firms surges Rs 72,285 cr; TCS, Infosys biggest winners

    Five of India’s top-10 most valued firms, led by TCS and Infosys, added over ₹72,284 crore in market value last week, while Reliance, HDFC Bank, SBI, L&T and LIC saw declines. TCS gained the most, adding nearly Rs 36,000 crore New Delhi: The combined market valuation of five of the top-10 most valued firms surged by Rs 72,284.74 crore last week, with Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners. While Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance were the gainers, Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) faced erosion from their valuation. Last week, the BSE benchmark eked out a marginal gain of 5.7 points, while the NSE Nifty dipped 16.5 points. TCS added Rs 35,909.52 crore, taking its market valuation to Rs 11,71,862.37 crore. The market capitalisation (mcap) of Infosys jumped Rs 23,404.55…

    BUSINESS

    • Mar- 2025 -
      8 March
      235

      IndiGo ranked world’s second fastest growing airline in seat capacity

      India’s largest airline has been ranked next only to Qatar Airways, which clocked a 10.4 per cent growth in seat capacity over the previous year, according to the latest data from the Official Airline Guide (OAG) New Delhi: IndiGo Airlines has emerged as the world’s second fastest-growing airline in terms of seat capacity, which increased by 10.1 per cent year-on-year to over 134.9 million seats in 2024. India’s largest airline has been ranked next only to Qatar Airways, which clocked a 10.4 per cent growth in seat capacity over the previous year, according to the latest data from the Official Airline Guide (OAG). IndiGo has also been ranked as the fastest-growing airline in the world in terms of flight frequency growth at…

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    • 8 March
      247

      India, Ireland to set up Joint Economic Commission to boost trade ties 

      India’s External Affairs Minister S Jaishankar’s visit to Ireland is the first high-level political visit from India since the visit of Prime Minister Narendra Modi in 2015 London: India and Ireland have agreed to set up a Joint Economic Commission to increase bilateral trade, investment and technology ties, External Affairs Minister S Jaishankar announced after a meeting with his Irish counterpart in Dublin on Friday. He met Tanaiste (foreign minister) Simon Harris over a working breakfast meeting at the Department of Foreign Affairs. The duo also clinched an “Action Plan” to enhance the India-Irish partnership as a highlight of the first visit by an Indian External Affairs Minister (EAM) to Ireland and the first high-level political visit from India since the…

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    • 7 March
      254

      India imports oil worth 112 bn euro from Russia

      India, according to CREA, bought fossil fuels worth EUR 205.84 billion from Russia from the beginning of the war until March 2, 2025 New Delhi: India, the world’s third largest oil consuming and importing nation, spent 112.5 billion euro (about Rs 1.5 lakh crore) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for fossil fuels since February 24, 2022. “According to our estimates, since the beginning of the war, Russia earned EUR 835 billion in revenue from fossil fuel exports,” it said. China was the biggest buyer of Russian fossil fuel at…

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    • 7 March
      335

      Sebi warns public against buying properties of Sunshine Global Agro

      The cautionary statement comes after Sebi discovered that some individuals or entities are illegally purchasing, encroaching/trespassing the properties of the company New Delhi: Markets regulator Sebi has cautioned the public against buying and dealing with any property belonging to Sunshine Global Agro and its directors. The cautionary statement comes after Sebi discovered that some individuals or entities are illegally purchasing, encroaching/trespassing the properties of the company. In response, Sebi, in a notice issued last week, cautioned public against “buying/dealing with any properties wherein the company, and its directors have any interest/rights directly or indirectly.” The regulator also said that no person is allowed to take illegal possession or trespass with the assets of the company and its directors. Any such unauthorised…

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    • 7 March
      237

      Air India launches ‘ZipAhead’ priority check-in and handling service for economy class passengers

      The service is currently available for departures from six Indian airports — Hyderabad, Delhi, Mumbai, Chennai, Bengaluru, and Kolkata Hyderabad: Air India has launched ‘ZipAhead’, a paid service offering priority check-in and priority baggage handling to Economy Class travellers on flights within India. The service is designed to enable time-conscious travellers who are otherwise not eligible for priority services to save time at on-ground touch points, and breeze through airports, a press release said. Air India guests opting for the ‘ZipAhead’ service will be able to check-in at the airline’s dedicated Premium Economy check-in counters and enjoy priority baggage handling services. The service is currently available for departures from six Indian airports — Hyderabad, Delhi, Mumbai, Chennai, Bengaluru, and Kolkata. The service is available at nominal fee of Rs 499 if purchased more than six hours…

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    • 7 March
      269

      Editorial: India caught in middle-income trap

      If India has to emerge as a high-income nation — the much-touted ‘Viksit Bharat’ status —, per capita income should touch $14,000 Despite the initial burst of progress following the 1991 economic reforms, delivering prosperity for a significant chunk of the population, India has been caught in a low-middle income trap for many years now. The absence of broad structural reforms, stagnation in productivity levels, low innovation, inadequate infrastructure and skill gaps are among the stumbling blocks in the way of the country’s transition to high-income status. With a per-capita income of $2,700, India has been categorised as a ‘low middle income’ country. If it has to emerge as a high-income nation — the much-touted ‘Viksit Bharat’ status —, the per capita…

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    • 7 March
      302

      Opinion: India’s rising jobs, stagnant wages. What we are missing

      Enhancing technical skill sets of the working population will provide them with better bargaining power By Dr Vijayalakshmi S Stagflation, a macroeconomic concept, is making a lot of sense, especially for India, which is experiencing severe macroeconomic issues like high inflation and stagnant wages. The data in the annual report of PLFS (Periodic Labour Force Survey) 2023-24 provide a promising future. For instance, the Labour Force Participation Rate (LFPR) in usual status for persons aged 15 years and above has increased from 57.9% in 2022-23 to 60.1% in 2023-24. The LFPR is the percentage of people working, seeking work, or available for work. Another appealing data is on worker population (percentage of employed persons in the population), which has increased…

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    • 7 March
      180

      L&T becomes first major corporate house to announce one-day paid menstrual leave

      Company’s chairman and managing director S N Subrahmanyan recently faced flak for comments asking employees to put in 90-hours a week and not keep staring at their wives Mumbai: In a first for a major corporate house, engineering, procurement and construction major Larsen and Toubro on Thursday announced a one-day paid menstrual leave for women employees. The move will benefit about 5,000 women employees at the city-headquartered company. Company’s chairman and managing director S N Subrahmanyan announced the move at a company event to celebrate International Women’s Day, sources said. Exact details of how to implement the announcement will be formulated by the relevant officials shortly, they said. The announcement is only applicable to the employees of the parent L&T and not for its…

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    • 6 March
      249

      Samsung India unveils Galaxy A56 5G and Galaxy A36 5G with AI-powered features, sleek design

      Both models are equipped with Awesome Intelligence, Samsung’s AI suite designed to elevate creativity and user experience. With features like Google’s Circle to Search, users can search directly from their screen, even identifying songs playing nearby. Additionally, AI-driven visual editing tools, including Auto Trim, Best Face, Instant Slo-mo, and Object Eraser, provide a smooth and intuitive content creation experience. Hyderabad: Samsung India has launched its latest smartphones, the Galaxy A56 5G and Galaxy A36 5G, bringing AI-driven innovation, enhanced durability, and a refreshed design to the Galaxy A series. Cutting-Edge AI FeaturesBoth models come with Awesome Intelligence, Samsung’s AI suite designed to enhance creativity and user experience. Features like Google’s Circle to Search allow users to search directly from the screen,…

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    • 6 March
      226

      MWC 2025: India’s guiding principles towards tech governance

      Minister for Communications, Jyotiraditya Scindia, says Innovation, inclusivity, sustainability and trust form the core of India’s guiding principles towards tech governance, at the Mobile World Congress (MWC) New Delhi: Innovation, inclusivity, sustainability and trust form the core of India’s guiding principles towards tech governance, said Minister for Communications, Jyotiraditya Scindia, at the Mobile World Congress (MWC) in Barcelona, Spain. After meeting top-level CEOs, the minister addressed key sessions and witnessed major tech innovations in one of the world’s largest gatherings for the mobile and telecommunications industry. The minister addressed key sessions on ‘Global Tech Governance: Rising to the Challenge’ and Balancing Innovation & Regulation: Global Perspectives on Telecom Policy’ at the event. He highlighted the success of Aadhaar and BharatNet in…

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