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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

    • Oct- 2022 -
      7 October
      432

      Tesla to deliver first Semi Trucks to Pepsi by Dec 1: Musk

      San Francisco: Tesla has started the production of its long-delayed Semi Truck that will have a 500 miles (800 km) range and will first reach Pepsi facilities, Elon Musk announced on Friday. The electric-car-maker will deliver the first Semi Trucks to the soft drink major by December 1. “Excited to announce the start of production of the Tesla Semi Truck with deliveries to @Pepsi on Dec 1st!” posted Musk. “500 mile range and super fun to drive,” he added. Pepsi had ordered 100 of Semi Trucks in December 2017, a month after it was announced. It costs $20,000 to reserve a Tesla Semi Truck. The base model will come at an expected price of $150,000 and the more expensive model is…

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    • 7 October
      447

      TN: Firecracker units in Sivakasi anxious as Diwali business dips amid high prices

      Chennai: Local firecracker units in Sivakasi in Virudhunagar district of Tamil Nadu that accounts for 90 per cent of firecracker business in the country are anxious as their business has dipped this season. The firecracker industry has lamented the high prices that led to the plummeting of the business. “I have a small wholesale and retail shop and I used to do business to the tune of Rs 60 to 75 lakh in a year but not anymore. This year, my sale has plummeted to such a level that I could do business to the tune of only Rs 15 lakhs, which is very low compared to the earlier business,” R. Selvaraj, President of Small Firecracker Distributors of Sivakasi. He said…

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    • 7 October
      458

      Apple iPhone 14 Plus arrives in India, starts from Rs 89,900

      New Delhi: Apple on Thursday announced the availability of iPhone 14 Plus, featuring a 6.7-inch display, an upgraded dual-camera system, Crash Detection, Emergency SOS via satellite, A15 Bionic and improved battery life, in India and other countries from Friday. The customers in India can purchase iPhone 14 in colours like midnight, blue, starlight, purple, and (PRODUCT) RED in 128GB, 256GB, and 512GB storage starting from Rs 89,900. Customers who pre-ordered iPhone 14 Plus online will also begin receiving deliveries from Friday. In India, people can get Rs 5,000 cashback on HDFC Bank cards and no-cost EMI on six-month period on HDFC Bank cards. For trade-in, customers can get up to Rs 3,000 exchange bonus. “iPhone 14 Plus brings the larger 6.7-inch…

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    • 7 October
      486

      Airtel rolls out 5G plus in 8 cities – Know how to activate it on smartphone

      New Delhi: Bharti Airtel on Thursday launched 5G Plus services in eight Indian cities. Soon customers of these cities will start enjoying 5G network in a phased manner. List of these eight cities are DelhiMumbaiChennaiBengaluruHyderabadSiliguriNagpur andVaranasi The company claimed that all major cities and urban areas of India will get 5G services by December 2023. Pan-India rollout will be completed by March 2024, the company added. In order to access 5G services, users will not need to change the SIM card as the existing 4G SIM is now 5G-enabled. How to activate 5G network on smartphone After company rolls out 5G services in your location, you need activate 5G network on your smartphone to start enjoying high speed internet. Following are…

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    • 6 October
      629

      Rupee falls 4 paise to 81.66 against US dollar in early trade

      Mumbai: The rupee depreciated 4 paise to 81.66 against the US dollar in early trade on Thursday amid high volatility as rising crude oil prices weighed on the local unit. At the interbank foreign exchange, the rupee opened on a strong note at 81.52 against the greenback, then pared the gains and fell to 81.66, registering a fall of 4 paise over its previous closing. In initial trading, the rupee also touched 81.51 against the American currency. On Tuesday, the rupee appreciated by 20 paise to end at 81.62 against the US dollar. The forex market was closed on Wednesday on account of Dussehra. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee opened stronger tracking a fall in the dollar…

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    • 6 October
      490

      IRF urges withdrawal of notification making 6 airbags mandatory from Oct 1, 2023

      New Delhi: Road safety body International Road Federation (IRF) has urged the Union Minister for Road Transport and Highways (MoRTH) Nitin Gadkari to withdraw the notification making six airbags mandatory in passenger vehicles from October 1, 2023. It is likely to become counterproductive resulting in more severe injuries and deaths if seat belts not worn by the passengers in the vehicle, the IRF said. In the letter to the Ministry, it said that the six airbags in passenger vehicles should be made mandatory once 85 per cent of the people start wearing rear seat belts. “Once this figure crosses 85 per cent pan India, the government should go ahead making this provision of six airbags. Otherwise, it will become counterproductive and…

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    • 6 October
      435

      12K Facebook employees may lose jobs amid ‘quiet layoffs’: Report

      New Delhi: Meta is reportedly conducting ‘quiet layoffs’ at Facebook that may lead to thousands of job cuts — at least 12,000 or about 15 per cent of its workforce. According to a report in Insider, the senior executives are in the process of executing “quiet layoffs” of underperforming workers. Several employees told Insider that as much as 15 per cent of the workforce could be cut within the next few weeks. This means that some 12,000 employees could be out of jobs soon. “It might look like they are moving on, but the reality is they are being forced out,” the employee told Insider. Facebook employees are bracing for layoffs for months since the social networking giant announced a hiring…

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    • 6 October
      447

      51% of daily Bitcoin volume on crypto exchanges fake: Report

      New Delhi: More than 51 per cent of the total Bitcoin trading volume on various crypto exchanges this year is fake amid volatile global economic conditions, a new report has claimed. Bitcoin is the blue chip of cryptocurrency and represents 40 per cent of the total crypto assets outstanding in the new and volatile crypto markets. Its market cap is currently at 382.25 billion. According to data provided by niche news publisher BanklessTimes.com, the majority of this fake Bitcoin volume is due to wash trading. Wash trading is illegal, where an asset is bought and sold simultaneously on the same platform to create false liquidity. This is often done by bots or spoofing orders. “It’s difficult to talk about cryptocurrency without…

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    • 6 October
      470

      Twitter an accelerant to fulfil my vision of a super app: Musk

      New Delhi: Tesla CEO Elon Musk has said that buying Twitter is to fulfil his dream to build a super app called X.com like China’s WeChat that will be available to all globally. Replying to Chris Anderson, head of non-profit organisation TED, Musk tweeted that “Twitter is an accelerant to fulfilling the original X.com vision”. Anderson had posted late on Wednesday that about a year from now, growing numbers of people will be attracted to Twitter/X. “It will be far less prone to robo-spam and algorithm-fuelled outrage. Instead, it will offer lots of new functionality,” he said. Musk, who has offered to buy Twitter again for $44 billion, earlier floated the idea of turning Twitter into the next super app. During…

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    • 6 October
      517

      Amazon suspended workers who refused to work after a fire broke out in a New York warehouse

      Amazon has suspended workers at a Staten Island warehouse after they refused to work.The workers cited safety concerns after a fire broke out at the facility. Amazon has suspended more than fifty workers at a Staten Island warehouse after they refused to work due to safety concerns over a fire in the facility. The Washington Post first reported the news. A cardboard compactor caught fire in a Staten Island facility leading to a small fire in the warehouse on Monday afternoon, representatives for Amazon confirmed to Insider. The spokesperson said that all employees were “evacuated safely, and day shift employees were sent home with pay.” Labor leaders told the Washington Post that the warehouse smelled of smoke, some workers couldn’t breathe, and…

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