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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

    • Sep- 2025 -
      16 September
      358

      Rupee slips 5 paise to 88.16 as India-US trade talks in focus

      The rupee slipped 5 paise to 88.16 against the US dollar on Thursday, tracking cautious sentiment ahead of India-US trade talks. The currency remains range-bound as the RBI intervenes, while equities advanced and global crude prices eased. Mumbai: The rupee depreciated 5 paise to 88.16 against the US dollar in early trade on Thursday, as market participants are keenly awaiting cues from the trade talks between India and the US. Forex traders said the rupee held its ground supported in part by renewed talk of an India-US trade deal and the rupee is expected to trade within a narrow band of 87.50-88.40 in the near term. At the interbank foreign exchange market, the rupee opened at 88.11, then lost ground and touched an…

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    • 16 September
      362

      Danish drug major Novo Nordisk slashes 11 per cent of workforce to save $1.3 billion

      Novo Nordisk will cut 9,000 jobs worldwide—11% of its workforce—by 2026 to save $1.3 billion. The move comes amid rising competition in obesity drugs, slowing sales of Wegovy and Ozempic, and a push to focus on R&D and agility New Delhi: In a major restructuring drive, Danish drug major Novo Nordisk on Wednesday announced plans to slash 9,000 jobs or 11 per cent of its global workforce and save ($1.3 billion) by the end of 2026. The company, in a statement, said that with the restructuring, it expects to simplify, improve decision-making speed, and reallocate resources toward growth opportunities in diabetes and obesity. Battling rising pressure from US rival Eli Lilly, the maker of blockbuster weight-loss drug Wegovy, announced its third…

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    • 15 September
      654

      Coolberg partners with Amazon Prime Video for new series Do You Wanna Partner

      Coolberg has partnered with Amazon Prime Video for the upcoming series Do You Wanna Partner. To mark the launch, it introduced Jugaaro Lemon-Ginger, a limited-edition non-alcoholic malt beverage, available across retail, HoReCa, and quick commerce platforms nationwide New Delhi: Non-alcoholic beer brand Coolberg on Tuesday said it has inked a partnership with Amazon Prime Video for its upcoming series, Do You Wanna Partner, a story about two friends who launched a beer startup as part of their entrepreneurial journey. Prime Video is an American subscription video on-demand over-the-top streaming television service owned by Amazon, and Coolberg is India’s leading non-alcoholic beer brand, a company statement said. Ahead of the series launch, Prime Video and Coolberg are bringing the series’ signature concoction…

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    • 15 September
      589

      Apple set to launch iPhone 17 series

      Apple will unveil its new iPhone line-up at the “Awe Dropping” event on Tuesday, featuring faster A19 chips, AI-powered features, and a new ultra-thin Air model. India’s role as both a market and manufacturing hub is growing New Delhi: Apple is set to unveil its next generation of iPhones on Tuesday at its highly anticipated “Awe Dropping” event, marking the company’s biggest product launch of the year. The new line-up is expected to include four iPhone models powered by the advanced A19 and A19 Pro chips, promising faster performance and significant feature upgrades. While the overall design may not change drastically from last year’s iPhone 16, Apple is banking on artificial intelligence features and improved user experience to draw buyers. Apple…

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    • 15 September
      554

      Why Travel Insurance Is the Smartest Choice for International Journeys

      Travel insurance is no longer optional—it’s essential. From covering medical emergencies and trip cancellations to lost baggage and flight delays, comprehensive policies safeguard travelers against financial and emotional stress, ensuring international journeys remain memorable for the right reasons. Exploring new locations, meeting people, and experiencing cultures that are very different from our own are all made possible by travel. Travelling abroad, whether for business, school, or pleasure, is an exciting milestone. They do, however, also carry an element of unpredictability that must be disregarded. Unexpected medical problems, delayed flights, or misplaced luggage may easily ruin well-planned vacations, leaving passengers anxious and broke. At this point, travel insurance becomes an essential component of the preparation process. Ensuring peace of mind during travel is…

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    • 15 September
      510

      Chinese envoy urges India-China economic cooperation to counter US tariffs

      Chinese Ambassador Xu Feihong criticised Washington’s 50% tariffs on India as “unfair,” calling on New Delhi and Beijing to deepen economic ties to counter the challenge. He also stressed joint efforts against terrorism and strengthening bilateral cooperation. New Delhi: China firmly opposes the Trump administration’s 50 per cent tariffs on India as it is “unfair and unreasonable” and New Delhi and Beijing should scale up economic ties to jointly counter the challenge, Chinese ambassador Xu Feihong said on Monday. Xu also said that both India and China are victims of terrorism and Beijing stands ready to work with the international community, including New Delhi to combat the challenge. The Chinese envoy to India was responding to questions after delivering his speech…

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    • 15 September
      541

      SpiceJet to revive 10 grounded aircraft by April 2026 amid fleet recovery push

      Budget carrier SpiceJet, which reported a Rs 238 crore loss in the June quarter, plans to restore 10 grounded aircraft by April 2026. The airline is securing engines, overhaul slots, and lease deals to revive its operations New Delhi: SpiceJet, which flew into the red in the June quarter, expects to restart operations of 10 grounded aircraft by April 2026 as more than half of its fleet remains on the ground due to various issues. At the end of the June quarter, the no-frills airline had just 21 operational planes out of the 56-strong fleet. Out of the operational aircraft, 8 were Boeing 737-800s, 6 Q400s, 3 Boeing 737-700 and 1 each of Boeing 737-900 and Boeing 737 Max, according to…

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    • 14 September
      405

      Infosys to train 150 Karnataka journalists in digital media and AI skills

      The Karnataka Media Academy has signed an MoU with Infosys under its CSR programme, Springboard, to train 150 journalists in digital skills, AI, and personality development. The initiative prioritises district-level and women journalists, aiming to strengthen media capacity across Karnataka Bengaluru: The Karnataka Media Academy on Monday signed an MoU with Infosys under its flagship CSR programme, “Springboard,” to provide training for journalists. The Memorandum of Understanding, signed in the presence of Karnataka Chief Minister Siddaramaiah, aims to offer soft skills and digital media training for journalists and marks the first initiative by the Academy under the CSR framework, a statement said. Through the Infosys Springboard initiative, the programme will focus on digital education, skill development, and capacity building for media…

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    • 14 September
      323

      GST reforms set to boost food processing sector, lower prices, and spur growth

      The government said GST reforms have rationalised food processing tax rates to 5 per cent, reducing compliance burden, correcting duty anomalies, and making food more affordable. The move is expected to boost demand, encourage investments, strengthen MSMEs, and create jobs across the sector New Delhi: The food processing sector has been a major beneficiary of the rationalisation of tax rates, with most products now falling under the 5 per cent GST slab, encouraging a virtuous cycle of economic growth, the government said on Monday. The simplified tax structure brings uniformity across food items with a reduced number of tax slabs. A stable tax environment will help businesses plan long-term investments, encourage compliance, and drive economic growth. The consumers will witness overall…

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    • 14 September
      290

      Nissan cuts Magnite prices by up to Rs 1 lakh after GST reduction, festive sales expected to rise

      Nissan Motor India has slashed prices of its New Magnite range by up to ₹1 lakh, passing on GST cuts to customers. With entry models now under ₹6 lakh, the move aims to boost festive season sales starting September 22. New Delhi: Nissan Motor India on Monday said it has reduced prices of its New Magnite range by up to Rs 1 lakh after after the government reduced GST on passenger vehicles. The company said it will pass on the entire benefit of the tax reduction to its customers, making the Magnite models more affordable ahead of the festive season. With the revised pricing, the entry-level New Nissan Magnite Visia MT is now available for under Rs 6 lakh, while the…

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