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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

    • Feb- 2025 -
      6 February
      235

      DeepSeek banned in USA, illegal users could be fined, jailed

      “Texas will not allow the Chinese Communist Party to infiltrate our state’s critical infrastructure through data-harvesting AI and social media apps,” the Texas Governor said while issuing the ban. Texas state in the United States of America has banned the Chinese AI app DeepSeek, days after the AI model challenged leading American AI models. Texas Governor Greg Abbott, issued the ban on using DeepSeek in state-issued devices, citing concerns over potential government data theft. “Texas will not allow the Chinese Communist Party to infiltrate our state’s critical infrastructure through data-harvesting AI and social media apps,” the Texas Governor said while issuing the ban on the DeepSeek app. Texas has also issued a ban on RedNote, another viral Chinese app, which…

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    • 5 February
      302

      Bill Gates explores making of his internal operating system in new memoir

      Washington: As he prepares to turn 70 later this year, Microsoft founder Bill Gates’ new memoir explores how his childhood quirks, upbringing, friendships and experiences coalesced into shaping his internal operating system. In “Source Code: My Beginnings,” the first installment of a trilogy retracing his journey from an often misunderstood kid to a polarising technology titan to an influential philanthropist, Gates dissects his brain’s unusual wiring, delves into the emotional trauma of his best friend dying while they were both in high school, and revisits the birth of Traf-O-Data, a startup that he launched in Albuquerque, New Mexico, with another childhood friend, Paul Allen. Traf-O-Data, conceived to create software for the groundbreaking Altair computer made Micro Instrumentation and Telemetry Systems, became…

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    • 5 February
      269

      World Bank India head meets Fadnavis, affirms to up commitments in Maharashtra

      The present portfolio concentrates on the agriculture, skills and capacity framework for districts, Kouame said, pointing that there are a slew of other areas where the state can partner. Mumbai: World Bank’s country head for India Auguste Tano Kouame on Tuesday met Maharahstra’s Chief Minister Devendra Fadnavis, and expressed that the multilateral lender is keen to expand the commitments to the state. Kouame said the current size of portfolio under implementation across various sectors in Maharahstra stands at USD 600 million across diverse sectors. “The World Bank is interested to increase its commitments to Maharashtra in the coming years,” Kouame told PTI after meeting Fadnavis in the country’s financial capital. During the meeting, the visiting WB officials discussed a slew of…

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    • 5 February
      247

      Adani Ports handles highest-ever monthly cargo of 39.9 MMT in Jan, up 13%

      It further stated that Adani Mundra Marine Team handled 415 vessels with 884 movements, surpassing the previous record of 406 vessels and 876 movements. Ahmedabad: Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said it handled its highest-ever monthly cargo volume of 39.9 million metric tonnes (MMT) in January, which was up 13 per cent year-on-year. This included containers (+32 per cent YoY) and liquids and gas (+18 per cent). APSEZ has crossed new milestones of handling 372.2 MMT (+20 per cent YoY) of total cargo (+7 per cent YoY) and liquids and gases (+9 per cent YoY) year-to-date in January, informed India’s largest integrated transport utility and part of the diversified Adani Group. Moreover, Mundra Port has achieved…

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    • 5 February
      227

      Indian stock market opens higher as US delays tariff hikes on Canada, Mexico

      On NSE, eleven sectors advanced and one declined out of 12. Mumbai: The NSE Nifty 50 and BSE Sensex snapped two-day fall on Tuesday after the US delayed tariff hikes on Canada and Mexico by a month. At 9.32 a.m., the Sensex gained over 443 points or 0.58 per cent at 77,630.71 and the Nifty went up 130.25 points or 0.56 per cent at 23,491.30. On NSE, eleven sectors advanced and one declined out of 12. The Nifty FMCG was the worst performing sector during open, while the NSE Nifty Metal was the best performing sector. Power Grid Corporation, ITC, Hindustan Unilever and Asian Paints weighed on the Nifty 50 index. Infosys, ICICI Bank, Mahindra and Mahindra and L&T added to the…

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    • 5 February
      228

      Softbank’s Son had ‘good discussion’ with chiefs of Samsung, OpenAI

      Earlier Tuesday in Seoul, Altman hinted at South Korean companies’ involvement in the ambitious Stargate project. Seoul: SoftBank Group head Masayoshi Son said on Tuesday he had a “very good discussion” with Samsung Electronics Co. Chairman Lee Jae-yong and OpenAI chief Sam Altman, as the three gathered to discuss artificial intelligence (AI) cooperation in the midst of the rapidly changing industrial landscape. The rare trilateral meeting took place at a Samsung Electronics office in southern Seoul following Altman’s meetings with SK Group Chairman Chey Tae-won and Kakao Corp. chief executive officer (CEO) Chung Shin-a. Son came to Seoul earlier in the day. After the two-hour meeting, Son told reporters that he had “a very good discussion,” which centred on mobile and…

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    • 3 February
      319

      Will Trump’s tariff hikes start global trade war?

      The average tariff rate on all imports could spike seven times higher in 2025 under Trump. The United States has not seen an average tariff rate that high since the Great Depression era, say experts The US President Donald Trump has officially announced the much-anticipated tariffs on imports from Canada, Mexico and China. While Canada and Mexico have to pay an additional 25 per cent hike from its pockets, China got 10 per cent tariff hike. Earlier, Trump had threatened China with 60 per cent of tariff, claiming that it this will bring jobs back to America. Hence, it can be assumed that 10 per cent tariff hike on China is the first of them. Now all this could lead to…

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    • 3 February
      337

      Editorial: Wooing the middle-class

      The new tax slabs announced by the Finance Minister in the Budget will substantially reduce the taxes of the middle-class, boosting household consumption, savings and investment The NDA 3.0 has finally heard the angry voices of the middle-class, considered the traditional support base of the saffron party, and sought to assuage them by providing big tax relief in the central Budget. Presenting her eighth consecutive Budget in Parliament, Finance Minister Nirmala Sitharaman announced substantial tax relief to put more money in the pockets of the salaried class. There will be no tax for annual income up to Rs 12 lakh. Effectively, this will go up to Rs 12.75 lakh due to a standard deduction of Rs. 75,000. The slabs and rates are…

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    • 3 February
      365

      India’s macros strong, rupee depreciation only against USD: Finance Minister Sitharaman

      Sitharaman rejects criticism that rupee has seen all-round weakness, says Indian currency least volatile against the US dollar among its Asian and global peers New Delhi: Finance Minister Nirmala Sitharaman on Sunday rejected criticism over the slide of the Indian rupee, saying it has depreciated only against a strengthening US dollar but remained stable against all other currencies because of the strong macroeconomic fundamentals. In an interview with PTI, she said a 3 per cent depreciation in the rupee against the US dollar in past few months is a matter of concern as it makes imports costlier, but she rejected criticism that the local currency has seen all-round weakness. “I am concerned but I will not accept the criticism that ‘Oh Rupee is weakening!’ Our macroeconomic fundamentals are strong. Rupee wouldn’t be stable against…

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    • 3 February
      387

      Editorial: India’s Race against time on AI

      The country’s short-term approach to problem-solving is hindering its ability to compete on a global scale One often wonders why India always lags in technological innovations, despite being endowed with enormous human resources. When ‘DeepSeek’ recently took the technology world by storm by developing an artificial intelligence (AI) assistant at a fraction of the cost of American models, the immediate question that arose was why India cannot come up with a similar product and emerge as a leading player in the AI race. The global history of technological evolution is replete with instances of India consistently missing the innovation bus and later struggling with the catching-up game. The reasons for this are not far to seek: Low R&D spending, limited…

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