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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

    • Dec- 2025 -
      4 December
      101

      Apple may not implement Sanchar Saathi order in the current form

      Samsung reviewing order, may take up concerns with government New Delhi: Apple and Samsung will discuss the Sanchar Saathi app order with the government and try to find a middle path on the directive for its pre-installation on mobile phones, sources said. In an order dated November 28, 2025, the Department of Telecom has directed manufacturers and importers of mobile handsets to ensure that its fraud reporting app, Sanchar Saathi, is pre-installed on all new devices and installed via a software update on existing handsets. “Apple will discuss the order on Sanchar Saathi app installation and work out a middle path with them. The company may not be able to implement the order in the current form,” an industry source told…

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    • 4 December
      99

      India reaffirms commitment to strengthening Comprehensive Strategic Partnership with UAE

      India reaffirmed its commitment to strengthening its Comprehensive Strategic Partnership with the UAE as EAM S Jaishankar extended National Day greetings. Recent meetings underscored progress in consular, visa, legal and defence cooperation, reflecting the deepening bilateral relationship. New Delhi: External Affairs Minister (EAM) S Jaishankar on Tuesday extended greetings to people of the United Arab Emirates (UAE) on their National Day, expressing New Delhi’s commitment to strengthening the Comprehensive Strategic Partnership and further strengthening commercial, cultural, and people-to-people ties. In a statement shared on X, EAM Jaishankar stated, “Warmest greetings to DPM & FM Sheikh Abdullah bin Zayed Al Nahyan, the Government and people of the UAE on their National Day. We remain committed to strengthening our Comprehensive Strategic Partnership, and…

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    • 4 December
      88

      FDI inflow rises 16 per cent in first half of FY26, hits highest-ever level

      India recorded a 16 per cent rise in FDI inflows to USD 50.36 billion in the first half of FY26, the highest ever for the period. Minister Jitin Prasada said FTAs, including the EFTA pact securing USD 100 billion investment, are strengthening investor confidence. New Delhi: Total foreign direct investment (FDI) inflow reported during the first half of FY 2025-26 ($50.36 billion) has increased by 16 per cent compared to the year-ago period ($43.37 billion) — the highest ever for the first half of a financial year, the Parliament was informed on Tuesday. Gross FDI inflows have increased from over $34 billion in 2012-13 to over $80 billion in 2024-25, said Minister of State for Commerce and Industry, Jitin Prasada, in…

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    • 3 December
      90

      Samsung unveils Galaxy Z TriFold, its first triple-fold phone

      Samsung on Tuesday introduced the Galaxy Z TriFold, its first triple-folding smartphone featuring a 10-inch display, strengthened Armor FlexHinge, and the Snapdragon 8 Elite for Galaxy chipset. The slim 3.9 mm device packs a 200 MP camera and Samsung’s largest foldable battery. New Delhi: Samsung Electronics on Tuesday unveiled the Galaxy Z TriFold, a new foldable smartphone that opens twice to reveal a large 10-inch display. With this launch, Samsung has expanded its leadership in innovative phone designs for the AI-driven mobile era. The company said the TriFold builds on a decade of experience in the foldable category and introduces its most advanced engineering yet. TM Roh, CEO and Head of the Device eXperience Division at Samsung Electronics, said the company…

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    • 3 December
      79

      A320 operated eight times with expired certificate: Air India

      Air India said it “regrettable” flew an Airbus A320 at least eight times last month despite an expired airworthiness certificate. The airline has suspended involved personnel and launched an internal probe, as the DGCA investigates the lapse. The aircraft remains grounded. New Delhi: After the Directorate General of Civil Aviation (DGCA) initiated an investigation into an Air India aircraft that was not airworthy but still flew at least eight times before it was grounded, the airline on Tuesday said the incident was “regrettable” and it has initiated a comprehensive internal investigation. The Airbus A320 in question was operated with an “expired airworthiness licence” at least eight times last month before the lapse was discovered and the aircraft was grounded. The A320…

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    • 3 December
      82

      Apple appoints Amar Subramanya as vice president of AI

      Apple has appointed AI researcher Amar Subramanya as vice president of AI, reporting to Craig Federighi. John Giannandrea will step down and retire in 2026. Subramanya, formerly at Microsoft and Google, will lead Apple’s Foundation Models, ML research, and AI safety efforts. Cupertino: Apple has announced to appoint renowned AI researcher Amar Subramanya as vice president of AI, reporting to Craig Federighi. The company said that John Giannandrea, Apple’s senior vice president for Machine Learning and AI Strategy, is stepping down from his position and will serve as an advisor to the company before retiring in the spring of 2026. “Subramanya will be leading critical areas, including Apple Foundation Models, ML research, and AI Safety and Evaluation. The balance of Giannandrea’s…

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    • 3 December
      89

      Starbucks to pay USD 35 million to NYC workers as strike draws political support

      Starbucks will pay USD 35 million to over 15,000 New York City workers for violating scheduling laws, as political leaders Zohran Mamdani and Bernie Sanders joined striking baristas. The settlement mandates compliance with Fair Workweek rules and offers reinstatement for laid-off staff. New York: Starbucks will pay about USD 35 million to more than 15,000 New York City workers to settle claims it denied them stable schedules and arbitrarily cut their hours, city officials announced Monday, hours before Mayor-elect Zohran Mamdani and US Sen. Bernie Sanders visited striking baristas on a picket line. The development came amid a continuing strike by Starbucks’ union that began last month at dozens of locations around the country. The workers want better hours and increased…

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    • 2 December
      188

      iBomma, piracy and the myth of modern-day Robin Hood

      Let’s not pretend the film industry is purely a victim. When actors charge astronomical fees and producers gamble with 200–300 crore budgets, who ultimately pays? The audience By Venkat Parthasarathy The recent arrest of iBomma founder Immadi Ravi has done more than just shut down a notorious piracy hub; it has exposed uncomfortable truths about modern-day youth, digital culture, and society at large. iBomma, along with its counterparts like Movierulz and Bappam, became a household name, ironically, not for innovation, but for stealing creativity and selling it back as free entertainment. During the COVID-19 lockdown, the platform exploded in popularity. From teenagers to senior citizens, everyone flocked to these sites for instant access to the latest movies, no ticket prices,…

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    • 2 December
      238

      Sabarimala temple collections hit Rs 92 crore in first 15 days of pilgrimage season

      Sabarimala temple’s collections reached Rs 92 crore in the first 15 days of the Mandala-Makaravilakku season, up 33per cent from last year. Aravana and appam sales contributed significantly, with around 13 lakh devotees visiting the hill shrine till November 30 Sabarimala (Kerala): The lord Ayyappa temple here has recorded a significant surge in revenue during the first 15 days of the ongoing annual mandala-makaravilakku pilgrimage season, with total collections touching Rs 92 crore. This marks a 33.33 per cent increase from the Rs 69 crore generated during the same period last year, according to figures released by the Travancore Devaswom Board (TDB) on Monday. A major share of the revenue came from aravana sales, which contributed Rs 47 crore—a sharp 46.86 per cent…

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    • 2 December
      197

      GST collections inch up to Rs 1.70 lakh crore in November despite rate cuts

      India’s GST collections rose marginally to Rs 1.70 lakh crore in November, supported by policy reforms and higher import IGST. Net GST revenue grew 1.3per cent, while April–November collections rose 7.3per cent, reflecting steady consumption and economic momentum New Delhi: India’s Gross Goods and Services tax (GST) collections reached Rs 1,70,276 crore in November, up 0.7 per cent year-on-year, driven by lower rates and overall policy reforms, the official data showed on Monday. Total net GST revenue was up 1.3 per cent at Rs 1.52 lakh crore last month. Notably, import-related IGST went up 10.2 per cent to Rs 45,976 crore, taking total gross GST revenue to Rs 1,70,276 crore, up 0.7 per cent from November last year. Net collections from…

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