DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Fri, 31 Oct 2025 17:35:40 +0530 en https://dailyworld.in/business/elon-musks-starlink-begins-hiring-in-india-ahead-of-satellite-broadband-launch-645747.html Mumbai Oct 31 In a significant step toward its highlyanticipated satellite broadband rollout in India SpaceXowned Starlink has started its first round of hiring in the country As part of its hiring campaign the Elon Muskrun company has posted openings for several positions on its LinkedIn and the SpaceX careers portal The positions that the company is inviting applications for are finance and accounting roles including tax manager accounting manager payments manager and senior treasury analyst at Bengaluru the operational centre of Starlink in IndiaAs Starlink expands its global footprint to deliver lowlatency satellite broadband services worldwide its Indian subsidiary is looking to hire an accounting manager to oversee financial reporting and compliance the company stated in its job postingIn order to support Starlinks operations in India the position entails developing and expanding accounting reporting and statutory compliance systems The company has made it clear that there are no remote or hybrid options available only locally based applicants with legitimate work authorisation will be taken into considerationStarlink is hiring in preparation for the commercial launch of its satellite internet services in India in late 2025 or early 2026 In accordance with government regulations the company is now establishing ground infrastructure and carrying out required security trialsTo comply with the Department of Telecommunications DoT requirements for lawful interception and security compliance before spectrum allocation Starlink gave a demonstration of its broadband service to officials in Mumbai earlierAccording to reports the company has also applied for permission to open three gateway stations in Mumbai Chennai and Noida After the launch it intends to open nine to ten more gateway locations including Chandigarh Kolkata and LucknowOnce up and running Starlink will face competition from Jio Satellite and Eutelsat OneWeb both of which have obtained regulatory clearances but are awaiting final spectrum allocationThe frameworks for satellite broadband spectrum pricing and allocation are still being finalised by the DoT and the Telecom Regulatory Authority of India TRAI IANS https://dailyworld.in/business/elon-musks-starlink-begins-hiring-in-india-ahead-of-satellite-broadband-launch-645747.html Fri, 31 Oct 2025 10:52:00 +0530 https://dailyworld.in/business/india-ipo-boom-14-companies-hit-markets-in-october-to-raise-record-rs-46-000-crore-645765.html Mumbai Oct 31 Indias primary market witnessed an unprecedented boom in October marking the busiest month ever for mainboard initial public offerings IPOs with 14 companies hitting the market so far aiming to raise over Rs 46000 crore The month has set a new record for monthly fundraising in the domestic capital markets driven by two heavyweight listings Tata Capital and LG Electronics India which together accounted for more than half of the total fundraisingTata Capital raised Rs 15512 crore while LG Electronics India mobilised Rs 11607 crore through their respective initial share saleAdding to the momentum Lenskart Solutions was set to open its Rs 7278crore issue on October 31 rounding off a packed primary calendar that also featured offerings from WeWork India Canara HSBC Life Insurance Orkla India and Rubicon ResearchThe recordbreaking performance easily eclipsed the previous monthly high of October 2024 when six IPOs had raised Rs 38690 crore The latest figures also surpass earlier peaks seen in November 2021 Rs 35665 crore from nine IPOs November 2024 Rs 31145 crore from eight IPOs and May 2022 Rs 29510 crore from eight IPOsThis milestone underscores the remarkable resilience and liquidity depth of Indias primary market which has remained vibrant despite uneven secondary market sentiment amid global uncertainty according to analystsIn total 89 IPOs have raised over Rs 138 lakh crore so far in 2025 making it one of the strongest years on record and only slightly behind 2024 when total fundraising crossed Rs 16 lakh crore With still two more months to go the previous record is most likely to be passed as many IPOs are in line to hit the primary market in November and DecemberAccording to market watchers the rush of new listings reflects both robust investor confidence and companies eagerness to capitalise on strong demand before yearend IANS https://dailyworld.in/business/india-ipo-boom-14-companies-hit-markets-in-october-to-raise-record-rs-46-000-crore-645765.html Fri, 31 Oct 2025 11:37:00 +0530 https://dailyworld.in/business/predefined-data-parameter-triggered-4-hour-trading-disruption-mcx-645772.html Mumbai Oct 31 The primary root cause for the disruption which halted trading for four hours on Multi Commodity Exchange MCX this week happened due to predefined parameter limits relating to reference data like unique client code UCC configured within the systems the commodity trading platform said in a statement on Friday The UCC led to constraints beyond the threshold The platform said that they have addressed the constraints to prevent such issues in the futureThe primary root cause has been identified as a predefined parameter limit relating to reference data like Unique Client Code UCC configured within the systems This led to constraints beyond the threshold We have taken steps to address the constraints to prevent similar issues in the future Notably trading systems have not had issues MCX said in a statementAccording to the exchange trading systems have not had issues as the exchange systems are wellpositioned to support market volumes and growthWe remain committed to strengthening our operational robustness and will continue investing in cuttingedge technology to enhance performance reliability and scalability ensuring that we meet the evolving needs of our members participants and stakeholders the statement addedWe sincerely thank our members participants and all stakeholders for their continued support cooperation understanding and valuable assistance during the incident and we deeply appreciate your ongoing trust and partnership the statement addedTrading on MCX was disrupted for more than four hours on Tuesday due to a technical glitch marking the longestever trading halt in the platforms historyTrading activities were delayed from 930 am after a system issue was detected Later the exchange shifted operations to its Disaster Recovery DR site with trading resuming at 125 pmThis marks the second instance in 2025 when the countrys largest commodity exchange has faced a major technical outage raising concerns about the robustness of its trading infrastructure IANS https://dailyworld.in/business/predefined-data-parameter-triggered-4-hour-trading-disruption-mcx-645772.html Fri, 31 Oct 2025 12:12:00 +0530 https://dailyworld.in/business/china-eastern-airlines-to-increase-shanghai-delhi-flight-frequency-from-january-2026-645792.html New Delhi Oct 31 China Eastern Airlines on Friday announced that it will increase its direct flights between Shanghai Pudong and New Delhi from three to five per week starting January 2 2026 due to strong demand from the Indian market The flight from Delhi MU564 will depart at 1955 arriving in Shanghai at 410 the following day Flight MU563 from Shanghai Pudong will depart at 1250 pm and arrive in New Delhi at 1745 local time the carrier informed in a statementThe flights will be available on Monday Wednesday Friday Saturday and Sunday It will be operated by Airbus A330200 widebody aircraft featuring 17 lieflat MINPRO businessclass seats and 245 economyclass seats for commercial bookingInterGlobe Air Transport will manage all the airlines commercial and operational functions including sales marketing ticketing and supportThe airline plans to introduce additional routes to India including KunmingKolkata and Shanghai PudongMumbai the company said adding that increased flight frequency will enhance bilateral trade tourism education and cultural and technological exchangesWith China Easterns Shanghai Pudong serving as a major international hub travellers can connect to major cities across mainland China and onwards to destinations in North America Japan South Korea and EuropeChina Eastern Airlines had earlier announced the resumption of flights on its India route with flights between Shanghai and Delhi starting from November 9 after a fiveyear pauseAccording to travel data provider OAG the two countries operated around 2588 scheduled flights in 2019 before services were suspendedMeanwhile China this week extended a warm welcome to an IndiGo Airlines flight carrying 180 passengers from Kolkata West BengalIndiGo Airlines which landed in Guangzhou on Monday marked the first direct flight between the countries after 2020Earlier IndiGo also announced new daily direct flights between New Delhi and Chinas Guangzhou starting November 10 IANS https://dailyworld.in/business/china-eastern-airlines-to-increase-shanghai-delhi-flight-frequency-from-january-2026-645792.html Fri, 31 Oct 2025 13:23:00 +0530 https://dailyworld.in/business/sebi-increases-bank-nifty-constituents-caps-top-stocks-weight-645804.html New Delhi Oct 31 Market regulator Securities and Exchange Board of India SEBI has expanded the number of constituents and capped the weights of top constituents in nonbenchmark indices such as the NSEs Bank Nifty The new norms were implemented to reduce concentration risk and ensure broader balanced market representation according to market regulatorThe index will now require a minimum of 14 constituents an increase from the current 12 The weight of the top constituent will be limited to 20 per cent reduced from 33 per cent Additionally the combined weight of the top three constituents cannot exceed 45 per cent down from 62 per centSEBIs new norms will also rejig BSEs Bankex and NSEs FinNifty indices by adjusting the weights of individual stocks within these indicesRegarding Bank Nifty the heavyweights HDFC Bank ICICI Bank and State Bank of India will see their weights reduced gradually in four tranches concluding on March 31 2026The first adjustment in Bank Nifty is set for December 2025 followed by three additional rebalancingsThe new norms for derivatives on nonbenchmark indices aim to mitigate risk for investors and funds according to the regulatorThe compliance with prudential norms may be implemented through constituent or weight adjustment in a single tranche for the two indices Bankex and FinNifty the statement saidThe effective date for implementation of eligibility criteria for derivatives Bankex and FinNifty has been revised to December 31 2025In each adjustment the weight of the top three constituents would be checked and if the weights are beyond the prudential norms the excess would be targeted for reduction equally over the remaining tranches the market regulator saidThe Bank Nifty constituents include IDFC First Bank Canara Bank Punjab National Bank Federal Bank Bank of Baroda State Bank of India AU Small Finance Bank Axis Bank IndusInd Bank HDFC Bank ICICI Bank and Kotak Mahindra Bank IANS https://dailyworld.in/business/sebi-increases-bank-nifty-constituents-caps-top-stocks-weight-645804.html Fri, 31 Oct 2025 14:16:00 +0530 https://dailyworld.in/business/indias-reits-market-likely-to-touch-rs-197-lakh-crore-by-2030-report-645806.html New Delhi Oct 31 Indias REIT real estate investment trust market is projected to reach Rs 197 lakh crore by 2030 from Rs 104 lakh crore in 2025 driven by high occupancy favourable taxation and broader sectoral inclusion according to a report released on Friday Private equity participation rising from 500 million in 2011 to multibilliondollar highs by 2019 has enhanced transparency deepened institutional confidence and paved the way for REIT expansion across Indias thriving commercial real estate landscapeAs urbanisation technology and progressive policy reforms continue to reshape the sector Indias commercial real estate stands poised to unlock the next wave of opportunity across asset classes according to the report by Knight Frank India in collaboration with the Confederation of Indian Industry CIIRetail consumption across the organised formats is estimated at a value of Rs 88 lakh crore for FY 2025 Led by shopping centres Rs 49 lakh crore high streets Rs 38 lakh crore and other newage formats such as airport and transit retail This expansion reflects a clear shift toward experiencedriven consumercentric destinations where shopping intersects with lifestyle and leisure according to the reportIndias office market stock surpasses 1 billion square feet ranking as the fourth largest globally it statesIndias REITs have a potential to diversify beyond traditional asset classes like office retail and warehousing to industrial parks data centres and hospitality Listed REITs have delivered stable average annual dividend yield of about 55 per cent making them attractive incomegenerating vehicles the report statesBy 2030 Indias REIT market including office retail and warehousing sectors is projected to reach Rs 197 lakh crore India currently has five listed REITs covering about 177 million sq ft of commercial and retail space spanning operational underconstruction and upcoming assets worth approximately Rs 23 lakh crore with over 290000 unitholdersIndias commercial real estate CRE transformation is being led by businesses that are more global technologydriven and experiencefocused than ever before Consolidation in office demand resilient retail growth and the rapid expansion of digital infrastructure have fundamentally reshaped occupier behaviour said Shishir Baijal Chairman and Managing Director Knight Frank IndiaToday companies want efficient green futureready spaces and capital markets are rewarding that shift As India heads toward a 7 trillion economy CRE will play an essential role in powering productivity attracting investment and building nextgeneration urban centres he mentionedREIT investment allows individuals to buy shares in companies that own operate or finance incomeproducing real estate similar to investing in mutual funds Investors can earn money through dividends from rental income and potential capital appreciation without the responsibilities of managing properties directly IANS https://dailyworld.in/business/indias-reits-market-likely-to-touch-rs-197-lakh-crore-by-2030-report-645806.html Fri, 31 Oct 2025 14:17:00 +0530 https://dailyworld.in/business/emkay-globals-profit-plunges-98-pc-in-q2-revenue-slips-nearly-34-pc-645811.html Mumbai Oct 31 Emkay Global Financial Services on Friday posted a net profit of just Rs 045 crore in the September quarter Q2 FY26 compared with Rs 2590 crore in the same period last fiscal Q2 FY25 marking a steep 98 per cent yearonyear YoY decline Revenue from operations dropped nearly 34 per cent to Rs 7208 crore from Rs 10856 crore in Q2 FY25 according to its stock exchange filingOn a sequential basis revenue remained largely stable compared with Rs 7297 crore in the previous quarter though profit fell from Rs 478 crore in Q1 FY26Total expenses during the quarter stood at Rs 7675 crore lower than Rs 8338 crore a year ago the company informed in its regulatory filingOn Friday shares of Emkay Global were trading at Rs 314 up by Rs 515 or 167 per cent during the intraday trading sessionOver the past five days the stock has fallen by Rs 5 or 156 per cent In the last one month it has slipped Rs 099 or 031 per cent while over six months it has gained Rs 11099 or 5440 per centOn a yeartodate YTD basis the stock is up Rs 567 or 184 per cent but over the past one year it has declined Rs 3753 or 1353 per centEstablished in 1995 and headquartered in Mumbai Emkay Global Financial Services is a diversified financial services firm It offers a wide range of services including institutional and retail broking investment banking portfolio and wealth management and research The company has also diversified into currency and commodity broking and acts as a depository participantEmkay operates through several subsidiaries such as Emkay Investment Managers Limited Emkay Fincap Limited Emkay Commotrade Limited and Emkay Insurance Brokers LimitedIt expanded internationally in 2021 with the launch of its Singaporebased arm Emkay Global Financial Services Pte LimitedThe firm serves a broad client base that includes foreign institutional investors domestic mutual funds banks corporates and highnetworth individuals IANS https://dailyworld.in/business/emkay-globals-profit-plunges-98-pc-in-q2-revenue-slips-nearly-34-pc-645811.html Fri, 31 Oct 2025 14:49:00 +0530 https://dailyworld.in/business/gst-reforms-festive-season-drive-upi-payments-stimulate-private-consumption-645815.html New Delhi Oct 31 The spending through unified payments interface UPI during the festival period Dussehra to Diwali increased to Rs 178 lakh crore up from Rs 151 lakh crore from the previous year a report said on Friday In September UPI witnessed a seasonally unadjusted monthonmonth MoM increase of 26 per cent in value terms the report from Bank of Baroda saidThe UPI saw 31 per cent transaction count growth yearonyear at 1963 billion in the month of September with 21 per cent growth in transaction amount at Rs 2490 lakh crore the National Payments Corporation of India NPCI data showed Monthwise too UPI witnessed a growth in transaction amount from Rs 2485 lakh crore in AugustPayments data for the DussehratoDiwali period showed that the total value of UPI debit and credit card payments reached approximately Rs 188 lakh crore from 164 lakh crore in the previous yearThe GST 20 stimulus aligned with the festival period is expected to boost household spending and has coincided with a significant increase in digital retail payments indicating a revival in consumption the report saidThe government estimates that the GST cut could increase consumer spending by approximately Rs 20 lakh crore the bank mentionedThe payment in value terms through debit card during this festival month went to Rs 65395 crore up from Rs 27566 crore the previous year In contrast credit card values reflected more cautious usage during the same period the bank saidDuring the festive period average spending per transaction for UPI was Rs 1052 whereas for debit card it was Rs 8084 and for credit card at Rs 1932 Bank of Baroda saidSmall to midvalued segment of consumption demand is likely to get a fillip looking at the spending statistics the bank projectedMerchantlevel UPI data for September indicated over 50 per cent growth in average spend per transaction for mens and womens clothing package shops beer wine and liquor online marketplaces electronics beauty and barber shopsWe expect private consumption demand to report a buoyant print in Q2 The trend will also persist in Q3 the bank forecasted IANS https://dailyworld.in/business/gst-reforms-festive-season-drive-upi-payments-stimulate-private-consumption-645815.html Fri, 31 Oct 2025 14:51:00 +0530 https://dailyworld.in/business/global-brokerages-stay-bullish-on-adani-power-after-strong-q2-raise-price-targets-up-to-rs-195-645821.html Ahmedabad Oct 31 Global brokerage firms remain upbeat on Adani Power Limited APL following its strong operational performance in the September quarter Q2 FY26 with Morgan Stanley Jefferies and Cantor Fitzgerald all maintaining positive views and raising their price targets on the stock on Friday Morgan Stanley reiterated its Overweight rating on Adani Power with an industry view of InLine and set a price target of Rs 16360 implying a modest 1 per cent upside from the October 30 closing price of Rs 16257The brokerage highlighted the companys strong project execution pipeline and healthy receivables positionJefferies meanwhile retained its Buy rating and sharply increased its price target to Rs 195 from Rs 138 earlier implying a 20 per cent upsideThe brokerage said Adani Power deserves a valuation premium to staterun NTPC due to its significantly higher margins and growth rates noting that its PE multiple trades at an 80 per cent premium to NTPCs 10xSimilarly Cantor Fitzgerald also maintained an Overweight stance and raised its price target by 32 per cent to Rs 184 citing the companys expanding power purchase agreements PPAs and strong earnings visibilityAdani Powers latest earnings call revealed that its new PPA bidding pipeline now stands at around 22 GW with 145 GW already awarded The company is currently L1 in a 32 GW Assam thermal bid while bids for Rajasthan 32 GW and Uttarakhand 13 GW are in progressMeanwhile earlier this week Adani Power reported a steady financial performance for the quarter with consolidated revenue at Rs 13106 crore and EBITDA at Rs 6001 crore as well as a 74 per cent increase in power sale volumes despite monsoonrelated disruptionsThe companys management reiterated its focus on expanding its total capacity to 42 GW by 203132 underscoring confidence in Indias growing electricity demand and Adani Powers leadership position in the sectorOur strong profitability and liquidity position us well to achieve our enhanced capacity expansion goal of 42 GW by 203132 We have already arranged ordering for equipment and land for the entire 237 GW expansion with project implementation progressing rapidly said SB Khyalia CEO Adani Power Limited on October 30 IANS https://dailyworld.in/business/global-brokerages-stay-bullish-on-adani-power-after-strong-q2-raise-price-targets-up-to-rs-195-645821.html Fri, 31 Oct 2025 15:23:00 +0530 https://dailyworld.in/business/maruti-suzuki-indias-q2-net-profit-rises-8-pc-revenue-up-13-pc-645830.html New Delhi Oct 31 Maruti Suzuki India Limited the countrys largest carmaker on Friday reported a 794 per cent rise in its consolidated net profit to Rs 3349 crore for the September quarter Q2 FY26 driven by higher vehicle sales and strong demand momentum The company had posted a net profit of Rs 31025 crore in the same period last fiscal Q2 FY25 according to its stock exchange filingOn a standalone basis the automaker reported a 73 per cent increase in profit after tax PAT to Rs 32931 crore from Rs 30692 crore a year earlierThe companys total revenue from operations rose 13 per cent yearonyear YoY to Rs 42344 crore in the JulySeptember quarter compared with Rs 37449 crore a year agoAt the operational level Maruti Suzukis earnings before interest tax depreciation and amortisation EBITDA stood at Rs 4434 crore slightly higher than Rs 4417 crore a year earlierHowever the EBITDA margin declined to 105 per cent from 119 per cent due to higher input costs and competitive pricing pressuresDespite the earnings improvement shares of Maruti Suzuki India were trading marginally lower at Rs 16167 on the NSE down 024 per cent from the previous closeEarlier this month the company said its production rose 26 per cent yearonyear in September 2025 to 201915 units supported by higher market demand and new model launchesProduction of utility vehicles such as the Brezza Ertiga and Fronx saw a 27 per cent increase while compact models like the Baleno Swift and Dzire also recorded strong output growthAs the Indian automobile sector enters the second half of FY26 analysts expect a steady performance supported by festive demand GST rate cuts rural recovery and new launchesAxis Securities recently noted that while twowheelers and commercial vehicles are witnessing strong momentum passenger vehicle sales could see high singledigit growth in the coming months IANS https://dailyworld.in/business/maruti-suzuki-indias-q2-net-profit-rises-8-pc-revenue-up-13-pc-645830.html Fri, 31 Oct 2025 15:58:00 +0530 https://dailyworld.in/business/govt-launches-marine-fisheries-census-2025-in-fully-digital-mode-645839.html New Delhi Oct 31 Union Minister of State for Fisheries Animal Husbandry and Dairying George Kurian on Friday launched the National Marine Fisheries Census MFC 2025 in Kochi moving the marine fishing sector from paperbased to fully digital household enumeration The minister also launched the VyASBHARAT and VyASSUTRA mobile applications at the event which will be used for conducting the censusThe census will digitally enumerate approximately 12 million fisher households in around 5000 marine villages across 13 coastal states and union territories including the Andaman amp Nicobar Islands and Lakshadweep said the Ministry of Fisheries Animal Husbandry amp DairyingThe census will be a householdlevel enumeration of fishers fishing crafts gears and infrastructure across over 1200 landing centres 50 fishing harbours jetties markets and processing plants with the help of specially designed mobilebased applicationsThe entire enumeration will be fully digital and paperless the ministry said adding that it will be conducted using multilingual Android apps developed by the ICARCentral Marine Fisheries Research InstituteCore household data collection will take place over 45 days from November 3 to December 18This digital approach enables realtime georeferenced data collection eliminating manual errors and significantly accelerating data processing the Ministry saidVyASSUTRA will enable realtime supervision and monitoring of households and enumerators through multitier web dashboards ensuring accountability across all levels of census managementThe scope of the MFC2025 has been significantly expanded to capture a deep granular understanding of the socioeconomic status of the coastal population ensuring future government interventions are more precise and impactful the Ministry saidAt the event Kurian also urged the fishermen and fish farmers to register on the NFDP portal to avail benefits from the governmentMFC2025 aims to broaden data collection to include total family income homeownership liabilities credit sources insurance status pandemic impacts and benefits from programmes like PMMKSSY IANS https://dailyworld.in/business/govt-launches-marine-fisheries-census-2025-in-fully-digital-mode-645839.html Fri, 31 Oct 2025 16:35:00 +0530 https://dailyworld.in/business/sam-altman-says-hes-still-waiting-for-his-tesla-after-75-years-seeks-refund-645842.html New Delhi Oct 31 OpenAI founder and CEO Sam Altman on Friday claimed that he has been waiting more than seven years for a Tesla car he booked and still hasnt received it Altman said he paid 45000 as a reservation fee for the electric vehicle but has now decided to ask for a refund from the Elon Muskled companyIn a post on social media platform X Altman shared three screenshots showing his email exchanges with TeslaThe first screenshot confirmed his booking while the second showed his email asking Tesla to cancel the order and issue a refundHowever the third screenshot revealed that his refund request email bounced back displaying an address not found error messageSharing the screenshots Altman captioned the post A tale in three acts He added in a followup comment I really was excited for the car And I understand delays But 75 years has felt like a long time to waitThe post quickly went viral attracting thousands of reactions and comments Among them was a playful response from Altmans brother Jack AltmanIn a lighthearted tease Jack shared Sams photo with a quote reading Whether we burn 500 million 5 billion or 50 billion a year I dont care and joked You cant be worrying about 50k like thisSam replied to his brothers comment with humour writing little brother energy is the WORSTHowever Tesla has not yet commented on Altmans post Meanwhile the Elon Muskrun firm started delivering standard Model Y to its customers in India last monthThe electric vehicle maker announced that the delivery of the Long Range variant is going to commence soon in the countryIt also announced that the new Model Y owners will be provided with a complimentary Wall Connector allowing convenient installation in their parking space for easy home charging IANS https://dailyworld.in/business/sam-altman-says-hes-still-waiting-for-his-tesla-after-75-years-seeks-refund-645842.html Fri, 31 Oct 2025 16:39:00 +0530 https://dailyworld.in/business/gst-officials-bust-about-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645846.html New Delhi Oct 31 Central GST officials have busted a Rs 3195 crore scam in the national capital involving a company that was fraudulently availing Input Tax Credit ITC based on fake invoices The director of the company has been arrested according to an official statement issued on Friday The antievasion branch of CGST Delhi South Commissionerate unearthed a largescale case of fraudulently availing ITC Director of the company has been arrested for orchestrating the evasion of Goods and Services Tax GST of approximately Rs 3195 crore and produced before the competent judicial authority which has remanded him to judicial custody of 14 days the statement saidThe investigation revealed that the company is actively engaged in availing fraudulent Input Tax Credit solely on the basis of invoices without any underlying supply of goods or servicesActing on specific intelligence developed by the antievasion wing an investigation was initiated into a suspicious supply chain The inquiry revealed that the firm had fraudulently availed ITC without any actual movement of goods Further investigation established that the firm had availed and passed on ineligible ITC from fictitious and nonexistent firms in gross violation of the provisions of the CGST Act 2017 the statement saidThis case forms part of the broader initiative undertaken by the CGST Delhi South Commissionerate to unearthed fraud ITC case that lead to significant revenue leakage and undermine fair market practices The department is leveraging data analytics and supply chain mapping tools to proactively identify and disrupt such fraudulent activities the statement addedMeanwhile the number of ITC fraud cases detected by Central GST formations in the last three years has more than doubled from 7231 in 202223 involving an amount of Rs 24140 crore to 15283 cases in 202425 involving a sum of Rs 58772 crore according to information tabled in Parliament recentlyThe government has taken proactive steps to prevent and tackle the fraudulent cases of claiming ITC which include allowing input tax credit only for invoices or debit notes which have been furnished by the supplier in FORM GSTR1 and details of which have been communicated to the registered person in FORM GSTR2BAs part of these steps a registered person is not allowed to furnish FORM GSTR1 if he has not furnished return in FORM GSTR3B for the preceding tax period according to the government IANS https://dailyworld.in/business/gst-officials-bust-about-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645846.html Fri, 31 Oct 2025 16:42:00 +0530 https://dailyworld.in/business/gst-officials-bust-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645847.html New Delhi Oct 31 Central GST officials have busted a Rs 3195 crore scam in the national capital involving a company that was fraudulently availing Input Tax Credit ITC based on fake invoices The director of the company has been arrested according to an official statement issued on Friday The antievasion branch of CGST Delhi South Commissionerate unearthed a largescale case of fraudulently availing ITC Director of the company has been arrested for orchestrating the evasion of Goods and Services Tax GST of approximately Rs 3195 crore and produced before the competent judicial authority which has remanded him to judicial custody of 14 days the statement saidThe investigation revealed that the company is actively engaged in availing fraudulent Input Tax Credit solely on the basis of invoices without any underlying supply of goods or servicesActing on specific intelligence developed by the antievasion wing an investigation was initiated into a suspicious supply chain The inquiry revealed that the firm had fraudulently availed ITC without any actual movement of goods Further investigation established that the firm had availed and passed on ineligible ITC from fictitious and nonexistent firms in gross violation of the provisions of the CGST Act 2017 the statement saidThis case forms part of the broader initiative undertaken by the CGST Delhi South Commissionerate to unearthed fraud ITC case that lead to significant revenue leakage and undermine fair market practices The department is leveraging data analytics and supply chain mapping tools to proactively identify and disrupt such fraudulent activities the statement addedMeanwhile the number of ITC fraud cases detected by Central GST formations in the last three years has more than doubled from 7231 in 202223 involving an amount of Rs 24140 crore to 15283 cases in 202425 involving a sum of Rs 58772 crore according to information tabled in Parliament recentlyThe government has taken proactive steps to prevent and tackle the fraudulent cases of claiming ITC which include allowing input tax credit only for invoices or debit notes which have been furnished by the supplier in FORM GSTR1 and details of which have been communicated to the registered person in FORM GSTR2BAs part of these steps a registered person is not allowed to furnish FORM GSTR1 if he has not furnished return in FORM GSTR3B for the preceding tax period according to the government IANS https://dailyworld.in/business/gst-officials-bust-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645847.html Fri, 31 Oct 2025 16:42:00 +0530 https://dailyworld.in/business/sensex-nifty-end-lower-as-broad-based-selling-drags-markets-645849.html Mumbai Oct 31 The benchmark Indian equity indices ended lower on Friday marking a weak close to the week as selling pressure was seen across most sectors The Sensex fell 46675 points or 055 per cent to close at 8393871 while the Nifty declined 15575 points or 060 per cent to end at 2572210Price action suggests that while bulls have temporarily lost momentum the broader structure remains intact as long as Nifty sustains above 25660 analysts saidA decisive close below this level could trigger further downside toward 2540025250 whereas a rebound and sustained move above 26000 will likely reestablish bullish momentum paving the way for a move toward 2615026300 they addedLosses were broadbased with most Sensex stocks finishing in the red Only a handful of heavyweights including BEL Larsen amp Toubro TCS ITC and State Bank of India managed to stay positiveOn the other hand major laggards such as NTPC Kotak Mahindra Bank Bajaj Finserv ICICI Bank and HDFC Bank dropped sharply with some counters losing up to 345 per centThe weakness was also visible in the broader markets The Nifty Midcap 100 index slipped 045 per cent while the Nifty Smallcap 100 declined 048 per centAmong sectoral indices only Nifty PSU Bank and Nifty Oil amp Gas managed to post gains of 15 per cent and 007 per cent respectivelyAll other sectors ended in negative territory with Nifty Metal and Nifty Media emerging as the worst performers each plunging over 1 per centAnalysts said that investors stayed cautious amid weak global cues and profitbooking ahead of the weekend leading to a broadbased decline across the marketIndian equities ended decisively lower after a volatile session as investors booked profits amid mixed corporate earnings and cautious global sentiment in the backdrop of a strong greenback market watchers statedMost sectors closed in the red pressured by renewed FII selling which have turned cautious after Powells hawkish statement and USChina trade development did not meet expectations they addedBuy on dips is expected to stay as a trading strategy as optimism remain solid on a QoQ basis as per the experts IANS https://dailyworld.in/business/sensex-nifty-end-lower-as-broad-based-selling-drags-markets-645849.html Fri, 31 Oct 2025 16:44:00 +0530 https://dailyworld.in/business/indian-register-of-shipping-and-neptunus-to-pioneer-1st-indigenous-marine-engine-condition-monitoring-tech-645851.html Mumbai Oct 31 In a landmark step for Indias maritime ecosystem and a stride toward Atmanirbhar Bharat and Viksit Bharat Neptunus Power Plant Services and Indian Register of Shipping IRS signed a Memorandum of Understanding MoU on Friday at Maritime India Week 2025 to mainstream datadriven maintenance and digital diagnostics across Indias shipping industry Through this MoU IRS and Neptunus have joined forces to advance the worlds firstever datadriven conditionbased maintenance for Indias maritime sectorAs part of the agreement IRS has awarded Type Approval Certification to Neptunus for its VIB 360 engine condition monitoring system and torque sense SHAPOLI marking the worlds first instance of indigenously developed IRScertified conditionmonitoring technologies for marine diesel engines and propulsion systemsThe certification demonstrates Indias capability to deliver globally compliant exportready maritime solutions built entirely at home according to an official statementTraditionally ship maintenance followed fixed OEM intervals conservative and costlyWith VIB 360 fleets shift to conditionbased maintenance CBM thereby eliminating unplanned downtime enhancing reliability reducing maintenance costs by up to 30 per cent based on previous experience optimising fuel efficiency and thus reducing emissionsThis shift from timebased to datadriven maintenance represents a foundational step in Indias Digital Maritime Vision enhancing operational reliability reducing downtime and cutting carbon emissions through precision diagnostics the statement saidWe thank the IRS for its vision and trust in Indian innovation This Type Approval is more than a certification it validates Indias capability to design and deliver dataled maritime technologies that meet global standards said Uday Purohit MD and CEO Neptunus Power Plant Services Pvt LtdTogether we are paving the way for Indianbuilt systems to enhance safety efficiency and operational reliability across the worlds shipping fleets he addedUnder the MoU IRS and Neptunus will jointly develop frameworks and standards for CBM to help the maritime industry transition from traditional timebased maintenance to realtime dataled maintenance practicesThe collaboration aims to enhance operational reliability reduce maintenance costs and contribute to Indias green shipping and digital maritime visionAkshay Purohit Director and COO said This MoU is a step toward making conditionbased maintenance a mainstream reality in Indias maritime sector By combining local innovation with datadriven insights we are creating a framework that can reduce downtime improve fuel efficiency and extend asset life IANS https://dailyworld.in/business/indian-register-of-shipping-and-neptunus-to-pioneer-1st-indigenous-marine-engine-condition-monitoring-tech-645851.html Fri, 31 Oct 2025 16:45:00 +0530 https://dailyworld.in/business/paddy-procurement-in-eastern-up-to-begin-from-tomorrow-645863.html Lucknow Oct 31 Under the kharif marketing year 202526 paddy procurement in eastern Uttar Pradesh will begin on November 1 and continue until February 28 2026 During this period procurement will also take place in Unnao Raebareli and Lucknow districtsPaddy procurement has been underway since October 1 in Western Uttar Pradesh as well as in the Hardoi Lakhimpur Kheri and Sitapur districts of the Lucknow DivisionThe doubleengine government has increased the Minimum Support Price MSP of paddy this year The MSP for paddy Common has been fixed at Rs 2369 per quintal and for paddy Grade A at Rs 2389 per quintal More than 217 lakh farmers have registered themselves to sell their produce within two monthsThe regions in Eastern Uttar Pradesh which will see paddy procurement commencing from November 1 include Chitrakoot Kanpur Ayodhya Gorakhpur Devipatan Basti Azamgarh Varanasi Mirzapur and Prayagraj Additionally in the Lucknow division procurement will commence in Lucknow Raebareli and Unnao on November 1 and will continue until February 28 2026As of October 31 217625 farmers have registered In Western Uttar Pradesh more than 17000 farmers have already sold over 106 lakh metric tonnes of paddy within a monthAlso the procurement picked up pace after Chief Minister Yogi Adityanaths instructions and 3920 purchase centres were opened Farmers must register themselves on the Food and Civil Supplies Departments website fcsupgovin or through the UP KISAN MITRA mobile appAccording to the Food and Civil Supplies Department farmers can contact the tollfree helpline at 18001800150 or reach out to their district food marketing officer tehsil regional marketing officer or block marketing inspector for assistance or informationThe CM Yogi Adityanath government has directed the officials to ensure that farmers receive payment within 48 hours IANS https://dailyworld.in/business/paddy-procurement-in-eastern-up-to-begin-from-tomorrow-645863.html Fri, 31 Oct 2025 17:24:00 +0530 https://dailyworld.in/business/indian-firms-get-licenses-to-import-rare-earth-magnets-from-china-645640.html New Delhi Oct 30 Ministry of External Affairs spokesperson Randhir Jaiswal said on Thursday that some Indian companies have received licenses for importing rare earth magnets from China At least three Indian companiesContinental India Hitachi and Jay Ushinhave received initial government approval to import the magnets These firms supply components for Indias automotive and electronics industriesThis is the first set of clearances since Beijing imposed tight controls on the export of these magnets earlier in April The move is intended to alleviate supply issues that have impacted key industries in IndiaJaiswal also said We have to look at how the US and China talks will play into our domainThe import licenses have specific conditions attached The imported magnets cannot be reexported to the United States and cannot be used for defencerelated purposesThe MEA had previously confirmed in June 2025 that it was in discussions with China to secure the supply of rare earth materials and bring predictability to the trade supply chainThe Indian government and industry bodies have been working to find a solution to the supply bottlenecks The automotive sector especially manufacturers of electric vehicles EVs was particularly affected by the export restrictions This initial grant of licenses is expected to ease some of the pressureMeanwhile US President Donald Trump on Thursday announced that he and Chinese President Xi Jinping have agreed on a oneyear deal for the supply of crucial rare earth materialsThe announcement came after the two leaders met at Busan in South Korea on the sidelines of the 32nd APEC Economic Leaders Meeting their first inperson meeting in six yearsTrump said the agreement will be renewed annually and represents significant progress in the countries strained trade relationshipAll the rare earths have been settled and thats for the world Trump told reporters aboard Air Force One after the meetingHe added that he had also agreed to reduce fentanylrelated tariffs on China from 20 per cent to 10 per cent describing the meeting with Xi as a 12 out of 10Trump said A lot of things we brought to finalisation and praised the Chinese President as a tremendous leader of a very powerful country IANS https://dailyworld.in/business/indian-firms-get-licenses-to-import-rare-earth-magnets-from-china-645640.html Thu, 30 Oct 2025 19:10:00 +0530 https://dailyworld.in/business/saved-rs-2-062-crore-in-cost-of-toll-collection-in-fy2024-25-nhai-645649.html New Delhi Oct 30 The cost of toll collection came down from Rs 4736 crore in FY 202324 to Rs 2674 crore in FY 202425 resulting in savings of Rs 2062 crore for NHAI the Ministry of Road Transport and Highways said on Thursday In percentage terms the cost of toll collection decreased from 1727 per cent in FY 202324 to 927 per cent in FY 202425 The cost of toll collection is the difference between the Toll Fee collected by the tolling agencies and the amount remitted to NHAI at publicfunded toll plazasIn FY 202324 total toll collected by the toll agencies amounted to Rs 27417 crore out of which about Rs 22681 crore were remitted to NHAI However in FY 202425 the toll agencies collected a total of about Rs 28823 crore as toll fee out of which around Rs 26149 crore were remitted to NHAIThe savings in cost of toll collection had resulted primarily due to various initiatives taken by NHAI like close monitoring of current contracts deletion of provision for deemed extension of three months timely bidding ensuring the maximum contracts for oneyear duration are awarded and shortterm contracts of three months are minimised Moreover measures were taken to drastically reduce short term threemonth contracts limiting only three premature termination requests during a financial year and restricting the same contractor in the bidding of toll plaza for which he has submitted the premature termination requestAlso NHAI has been regularly engaging with the All India User Fee Collection Federation to address issues and challenges faced by the toll collection agencies to build confidence and increase participation in toll bids According to a ministry statement timely release of performance security cash part and bank guarantees of the toll collection agencies further enhanced their bidding capabilities resulting into higher bids amounts Apart from this to avoid any windfall gains to the toll collection agencies a Windfall Gain clause was also introduced in the agreements under which the contract of the toll collection agency can be terminated if the moving average of toll collection in last 15 days is more than 40 per cent of the remittance paid to NHAI IANS https://dailyworld.in/business/saved-rs-2-062-crore-in-cost-of-toll-collection-in-fy2024-25-nhai-645649.html Thu, 30 Oct 2025 19:19:00 +0530 https://dailyworld.in/business/reliance-partners-google-to-accelerate-indias-ai-revolution-645652.html New Delhi Oct 30 Reliance Industries Limited RIL on Thursday announced an expansive strategic partnership between Google and its artificial intelligence AI focused subsidiary Reliance Intelligence Limited to accelerate AI adoption across India Under the collaboration Google in partnership with Reliance Intelligence will begin rolling out Googles AI Pro plan with the latest version of Google Gemini to eligible Jio users free of charge for 18 monthsThis offer includes higher access to Googles most capable Gemini 25 Pro model in the Gemini app higher limits to generate stunning images and videos with their stateoftheart Nano Banana and Veo 31 models expanded access to Notebook LM for study and research 2 TB of cloud storage and moreThis 18month offer is worth Rs 35100 Eligible Jio users will also be able to easily activate this offer via the MyJio appReflecting Jios commitment to empowering Indias youth the rollout will commence with early access for 18 to 25yearold users on unlimited 5G plans and will swiftly expand to include every Jio customer nationwide in the shortest time possible RIL saidThis partnership will also explore bringing more delightful local experiences powered by AI to Jio users catering to Indias rich cultural and linguistic diversityAdditionally the collaboration brings together Reliances scale connectivity and ecosystem reach with Googles worldclass AI technologyempowering consumers enterprises and developersReliance Intelligence aims to make intelligence services accessible to 145 billion Indians Through our collaboration with strategic and longterm partners like Google we aim to make India not just AIenabled but AIempowered where every citizen and enterprise can harness intelligent tools to create innovate and grow Mukesh Ambani Chairman Reliance Industries LimitedReliance has also announced partnering with Google Cloud to broaden access to its advanced AI hardware accelerators Tensor Processing Units TPUsThis will enable more organisations to train and deploy larger more complex AI models as well as deliver faster inferencing to help execute highly demanding projects and accelerate AI adoption across the broader India AI ecosystemThis expanded collaboration also establishes Reliance Intelligence as a strategic gotomarket partner for Google Cloud driving the adoption of Gemini Enterprise across Indian organisationsReliance is a longstanding partner in Googles goal of advancing Indias digital future together weve brought affordable internet access and smartphones to millions said Sundar Pichai CEO of Google and AlphabetNow we are bringing this collaboration into the AI era Todays announcement will put Googles cuttingedge AI tools in the hands of consumers businesses and Indias vibrant developer community he added IANS https://dailyworld.in/business/reliance-partners-google-to-accelerate-indias-ai-revolution-645652.html Thu, 30 Oct 2025 20:06:00 +0530 https://dailyworld.in/business/indias-auto-sector-sees-strong-recovery-in-sep-cv-sales-up-119-pc-yoy-645658.html New Delhi Oct 30 Indias automobile sector experienced a robust recovery in September with sales increasing by 5 to 10 per cent across various segments a report said on Thursday The pickup in sales was driven by Goods and Services Tax GST reforms and the onset of the festive season signalling a positive turn for the industry in FY2026 the report from ratings agency ICRA saidThe commercial vehicle CV segment witnessed a robust 119 per cent yearonyear growth in wholesale volumesWhile infrastructure projects and revived logistics supported a 32 per cent growth in H1 FY26 retail sales in specific segments like Medium and Heavy Commercial Vehicles MampHCVs contracted temporarily as fleet owners had deferred purchases in anticipation of the tax reformRetail sales of twowheelers grew 65 per cent YoY during the month after muted sales in the first few weeks due to purchase deferralsWholesale volumes also grew 6 per cent as manufacturers increased dispatches the report notedThe passenger vehicle PV segment gained notable traction postGST cut with retail sales growing 58 per cent YoY and wholesale volumes up 45 per cent ICRA saidWholesale volumes saw a 157 per cent sequential increase as OEMs stocked dealerships for the festive period Although inventory levels were elevated utility vehicles continued to dominate sales it saidICRA maintained a stable to positive outlook for the Indian auto sector in FY2026 For the fiscal year the ratings agency forecasted a modest 35 per cent wholesale growth for the CV industry 69 per cent growth for twowheelers and 1 to 4 per cent growth for passenger vehiclesImproved affordability new model launches an increase in rural demand and sustained festive demand will act as growth drivers the report said IANS https://dailyworld.in/business/indias-auto-sector-sees-strong-recovery-in-sep-cv-sales-up-119-pc-yoy-645658.html Thu, 30 Oct 2025 20:16:00 +0530 https://dailyworld.in/business/anil-ambanis-reliance-group-dismisses-cobrapost-report-as-baseless-motivated-campaign-645668.html Mumbai Oct 30 The Reliance Group on Thursday dismissed the Cobrapost report which alleged that the Anil Ambaniled company had diverted funds to the tune of over Rs 41900 crore as a malicious baseless and motivated campaign being orchestrated by the news platform at the behest of the groups corporate rivals The Reliance Group said in its rebuttal to the report that certain corporate rivals appear to be orchestrating this alleged exercise with the malicious intent to tarnish the reputation of Reliance Infrastructure Limited Reliance Power Limited Anil D Ambani and one of the largest family of over 55 lakh shareholders aimed at crashing the stock prices and engineering panic in stock markets to acquire Reliance Group assets at rock bottom stock priced levelsThe Reliance Group did not mention who the corporate rivals were but stated that they wanted to acquire its prime assets such as Delhis power distribution company BSES Ltd Mumbai Metro and 1200 MW Rosa power project at throwaway pricesThe Reliance Group also said the information being referred to in the Cobrapost report is long available in the public domain and has already been examined by statutory authorities including the CBI ED SEBI and other competent agencies Any suo motu comments or statements on these subjects would amount to contempt of court and interference with the right to fair trial it addedOver the last three months the combined market capitalisation of Reliance Infrastructure and Reliance Power has declined by over Rs 15000 crore driven by rumormongering speculative trading and orchestrated misinformation The credibility intent and funding of Cobrapost and its associates therefore merit serious scrutiny the rebuttal addedEarlier in the day Cobrapost alleged that the Reliance Anil Dhirubhai Ambani Group has indulged in a massive banking fraud amounting to more than Rs 28874 crore since 2006 with impunity The Cobrapost report alleges that the fraud involves siphoning off funds that were raised through bank loans IPOs and bonds by listed ADA Group companiesIn addition about 1535 billion raised abroad was routed to India in a fraudulent manner This includes 750 million a mysterious benefactor company NexGen Capital advanced to Emerging Market Investments amp Trading Pte EMITS of Singapore during a temporary custody arrangement with Reliance Innoventures the holding company of the ADA Group Cobrapost further alleged in its investigation report which has been posted on its websiteThe value of US1535 million thus diverted works out to Rs 1304750 crore in Indian currency and put together the amounts involved stand at more than Rs 4192157 crore the Cobrapost report alleges IANS https://dailyworld.in/business/anil-ambanis-reliance-group-dismisses-cobrapost-report-as-baseless-motivated-campaign-645668.html Thu, 30 Oct 2025 21:18:00 +0530 https://dailyworld.in/business/nasscom-partners-with-uidai-to-help-indias-deeptech-innovators-645670.html New Delhi Oct 30 The National Association of Software and Service Companies NASSCOM on Thursday said that it has signed a Memorandum of Understanding MoU with the Unique Identification Authority of India UIDAI to expand opportunities for Indias DeepTech innovators and strengthen the countrys digital identity ecosystem As part of the collaboration the trade association will support UIDAIs Scheme for Innovation and technology association with Aadhaar SITAA a structured UIDAI initiative to catalyse open innovation indigenisation and scalable IDtech solutions that strengthen the Aadhaar ecosystem and Indias Digital Public InfrastructureIndia is home to more than 4000 DeepTech startups including over 500 inventive ventures tackling challenges in healthtech agriculture space and other strategic sectorsNasscom has been closely working with the ecosystem and government in evangelising the promise of DeepTech startups spotlighting their ideas and enabling them to scale globallyThe collaboration with UIDAI reinforces this mission by shaping a national narrative around IDTech a domain poised to transform service delivery enhance trust in digital interactions and unlock inclusive growth for millions of citizensFor startups the partnership opens doors to UIDAIs incubation sandbox providing a platform to pilot solutions in policylinked environments gain visibility with influential stakeholders and engage with realworld challenges central to Indias digital futureThe future of digital identity will be shaped by groundbreaking ideas and solutions that redefine what trust means in the digital age With the convergence of AI biometrics and secure platforms there is immense potential to make citizen services more accessible reliable and citizencentric said Sangeeta Gupta Sr Vice President and Chief Strategy Officer at NasscomThis collaboration with UIDAI allows startups to not only innovate but also to impact how technology can empower governance with transparency and trust at its foundation she addedThrough curated showcases academia outreach and structured exchanges with UIDAI the initiative will help founders validate their ideas build credibility and accelerate their journey to scaleThe initiative aims to strengthen Indias digital identity ecosystem by fostering innovation promoting indigenisation and enabling collaborative development in the identity technology domainIt will further open new pathways for startups in the IDTech space to imagine experiment and build solutions that can power the backbone of Indias digital identity infrastructure IANS https://dailyworld.in/business/nasscom-partners-with-uidai-to-help-indias-deeptech-innovators-645670.html Thu, 30 Oct 2025 21:20:00 +0530 https://dailyworld.in/business/india-and-sri-lanka-hold-1st-joint-working-group-meeting-on-agriculture-645679.html New Delhi Oct 30 India and Sri Lanka discussed collaboration in key areas including farm mechanisation organic and natural farming seed sector development agrientrepreneurship agricultural education soil health management market access and climateresilient agriculture at the first Joint Working Group JWG meeting on Agriculture between the Asian countries was held on Thursday The meeting was cochaired by Devesh Chaturvedi Secretary Department of Agriculture and Farmers Welfare and D P Wickramasinghe Secretary Ministry of Agriculture Livestock Land and Irrigation Government of Sri LankaBoth sides discussed Opportunities for joint research and capacity building were also exploredThe meeting also covered initiatives such as digital agriculture crop insurance and agristartupsThe Sri Lankan delegation visited the Indian Agricultural Research Institute IARI Pusa New Delhi to gain insights into Indias agricultural research and innovation ecosystemThe discussions reaffirmed the shared commitment of India and Sri Lanka to deepen cooperation for strengthening food and nutritional security in both countriesThe Sri Lankan delegation comprised G G V Shyamali Additional Director General of Agriculture Development Department of Agriculture B S S Perera Director Livestock Development Ministry of Agriculture Livestock Land and Irrigation and Geshan Counsellor High Commission of Sri LankaThe meeting was also attended by Joint Secretaries from the Department of Agriculture amp Farmers Welfare DAampFW Chairman PPVFRA Department of Agricultural Research and Education DARE the Indian Council of Agricultural Research ICAR and the Ministry of External Affairs MEA IANS https://dailyworld.in/business/india-and-sri-lanka-hold-1st-joint-working-group-meeting-on-agriculture-645679.html Thu, 30 Oct 2025 23:29:00 +0530 https://dailyworld.in/business/us-fed-cuts-interest-rates-as-govt-shutdown-clouds-economic-outlook-645473.html Washington Oct 30 The US Federal Reserve on Wednesday lowered its benchmark lending rate by a quarter percentage point bringing the target range to 375 per cent to 4 per cent as policymakers grapple with limited economic data due to a federal government shutdown The rate cut marks the second reduction in borrowing costs this yearThe decision approved by a 102 vote comes as the US governments funding lapse stretches into its fifth week The shutdown has forced agencies including the Bureau of Labour Statistics to suspend the collection and publication of key economic indicators leaving the central bank with a partial view of the economys performanceWednesdays rate cut brought borrowing costs below 4 per cent for the first time since late 2022 Policymakers cited uncertainty in the outlook compounded by the lack of data on employment inflation consumer spending and other economic measures as a factor in the decision to reduce ratesThe Feds move comes amid mixed signals from the broader economy including steady job growth reported before the shutdown and inflation readings that have moderated from last years peaksEconomists note that with government data delayed the central bank is relying on alternative sources including private sector surveys and financial market indicators to gauge the economys strengthInvestors have closely watched the Feds policy stance for signs of its approach to balancing economic growth and inflation pressuresThe decision follows a quarterpoint rate reduction in July as the Fed sought to provide support to the economy in the face of slowing growth and financial market volatility The central bank has raised its benchmark rate several times since 2022 to combat inflationWednesdays actions underscore the Feds continuing effort to calibrate monetary policy amid uncertainty while signalling a willingness to adjust rates as conditions evolve even in the absence of complete economic data IANS https://dailyworld.in/business/us-fed-cuts-interest-rates-as-govt-shutdown-clouds-economic-outlook-645473.html Thu, 30 Oct 2025 14:43:00 +0530 https://dailyworld.in/business/indian-stock-markets-open-lower-as-us-fed-announces-rate-cut-645504.html Mumbai Oct 30 The Indian stock market opened on a weak note on Thursday as Fed decision to cut rates by 25bp didnt impact the market and tracking mixed cues from Asian markets Both benchmark indices the Sensex and Nifty started lower in early trade The Sensex slipped 228 points or 027 per cent to 84770 while the Nifty fell 81 points or 031 per cent to 25973From a technical perspective the Nifty continues to maintain a sidewaystobullish bias as long as it sustains above the 2590026000 support zone analysts saidOn the upside immediate resistance is placed around 2610026200 and a sustained move above this range could pave the way for further gains toward 2630026400 in the near term experts addedSeveral heavyweight stocks were under pressure in morning deals Bharti Airtel Sun Pharma ITC Tata Steel Power Grid Titan Kotak Bank Infosys Axis Bank Trent and HCL Tech were among the top losers declining up to 15 per centOn the other hand some stocks managed to stay in the green LampT Tata Motors Bajaj Finance TCS Ultratech Cement Adani Ports Tech Mahindra and SBI were among the top gainers on the SensexThe weak start in Indian markets came after the US Federal Reserve announced a 25 basis points rate cut lowering the benchmark federal funds rate to a range of 375 per cent to 4 per centHowever Fed Chair Jerome Powells comment that another rate cut in December was far from a foregone conclusion dampened investor sentiment on Wall Street affecting Asian market trends as wellIn the broader market the Nifty MidCap index was flat while the Nifty SmallCap index edged up 015 per centAmong sectoral indices the Nifty Pharma index saw the sharpest fall down 076 per centThe Nifty Metal and FMCG indices also slipped 04 per cent each and the Nifty Private Bank index declined 02 per centMeanwhile the Nifty Realty index bucked the trend rising 05 per cent in early tradeAnalysts said that Given the heightened volatility and mixed global cues traders are advised to maintain a cautious buyondips approach especially when using leverage IANS https://dailyworld.in/business/indian-stock-markets-open-lower-as-us-fed-announces-rate-cut-645504.html Thu, 30 Oct 2025 14:51:00 +0530 https://dailyworld.in/business/gold-silver-prices-drop-on-mcx-after-fed-rate-cut-645511.html Mumbai Oct 30 Gold and silver prices opened sharply lower on Thursday on the Multi Commodity Exchange MCX after the US Federal Reserve announced a 25basis points rate cut The decline in precious metal prices came as investors assessed the Feds cautious stance on future rate cuts Gold futures on the MCX opened 127 per cent lower at Rs 119125 per 10 grams compared to the previous close of Rs 120666Silver prices also dropped opening 04 per cent lower at Rs 145498 per kilogram against the previous close of Rs 146081 By 942 AM gold prices had extended losses and were trading lower by Rs 1827 or 151 per cent at Rs 118839 per 10 gramsSilver too was down by Rs 1411 or 097 per cent at Rs 144670 per kilogram In the international market gold prices inched slightly higher supported by a modest decline in the US dollarSpot gold rose 02 per cent to 393788 per ounce while US gold futures for December delivery slipped 12 per cent to 395070 per ounceThe dollar index fell 02 per cent after touching a twoweek high in the previous session making gold relatively cheaper for investors holding other currenciesOn Wednesday the US Federal Reserve announced its second interest rate cut of the year reducing the benchmark rate to a range of 375 per cent to 400 per centHowever Fed Chair Jerome Powell struck a cautious tone saying that officials were divided on the future course of monetary policy and that another rate cut later this year was far from certainGlobally investors are also keeping an eye on developments between the US and China as market participants await potential trade deal discussions between US President Donald Trump and Chinese President Xi JinpingThe Fed Chairs cautious tone on further easing triggered profittaking Additionally optimism over upcoming USChina trade talks where Presidents Trump and Xi may finalise a deal reduced safehaven demand experts saidGovernor Powell said officials are struggling to reach a consensus about what lies ahead for monetary policy and that financial markets should not assume another rate cut will happen at the end of the year they added IANS https://dailyworld.in/business/gold-silver-prices-drop-on-mcx-after-fed-rate-cut-645511.html Thu, 30 Oct 2025 14:55:00 +0530 https://dailyworld.in/business/us-fed-rate-cut-clear-signal-for-rbi-to-follow-suit-in-next-mpc-experts-645518.html New Delhi Oct 30 The US Federal Reserves decision to cut interest rates by 25 basis points has sent a clear signal for the Reserve Bank of India RBI to follow suit in its upcoming Monetary Policy Committee MPC meeting in early December according to market experts on Thursday They believe the Feds move which brings the benchmark rate down to a range of 375400 per cent strengthens the case for a similar action by the RBI to support growth and ensure effective transmission of earlier rate cutsThe rate reduction the second this year comes as the US government shutdown has clouded the economic outlook by disrupting key data releasesThe shutdown has forced agencies like the Bureau of Labour Statistics to halt the publication of crucial indicators such as employment and inflation figures leaving policymakers with limited visibility on the economys performanceFederal Reserve Chair Jerome Powell said the decision was taken amid considerable uncertainty but made it clear that another cut in December was not a done dealReacting to the development Vishal Goenka CoFounder of IndiaBondscom said the move effectively gives the RBI a green light to lower its policy rate in the upcoming MPC meetingThe US Fed cut benchmark overnight rates by 25bps as expected However Governor Powell very distinctively highlighted that any further cuts in the December meeting are not a done deal This is a clear green light for RBI to cut the repo rate in its next meeting in early December Goenka saidHe added that the RBIs last policy was a dovish pause and that the time is now right for another cut to ensure proper transmission across the banking sectorFor proper transmission of earlier rate cuts to come through a flatter and lower longend yield curve is required With the US cutting rates we expect RBI to move in the same direction and longend government bonds look attractive he notedMeanwhile the Feds policy move also influenced global commodities Manav Modi Analyst Precious Metals at Motilal Oswal Financial Services Ltd said gold prices weakened after a brief recovery earlier this week as the dollar index and US bond yields rose following the rate cut IANS https://dailyworld.in/business/us-fed-rate-cut-clear-signal-for-rbi-to-follow-suit-in-next-mpc-experts-645518.html Thu, 30 Oct 2025 14:57:00 +0530 https://dailyworld.in/business/adding-more-women-in-stem-sectors-imperative-for-viksit-bharat-vision-645546.html New Delhi Oct 30 The inclusion and advancement of women in Science Technology Engineering and Mathematics STEM is not merely a matter of social equity but a critical imperative for national innovation economic competitiveness and the successful realisation the vision of Viksit Bharat 2047 according to FICCI Ladies Organisation FLO an apex body of businesswomen in the country on Thursday A recent report by the FLO contended that Indias most underutilised strategic asset is its vast and growing pool of qualified women in STEMWhile India is a global leader in producing female STEM graduates with women constituting approximately 43 per cent of total enrolments in STEM However only 14 per cent transition into STEM careers said Poonam Sharma National President FLOThis phenomenon termed as leakypipeline signifies a colossal waste of human capital and a direct impediment to innovation In critical Research and Development RampD establishments women account for only 166 per cent of the personnel The economic cost of this exclusion is significant added SharmaRecent studies suggest that increasing womens participation in the labour force could add substantially to the GDP Promoting womens entrepreneurship alone has the potential to create 150170 million jobs by 2030A recent study conducted by FLO deconstructs the systemic barriers from entrenched sociocultural norms and the disproportionate burden of unpaid care to workplace biases and a formidable glass ceiling that contribute to this leaky pipeline It also highlights the catalytic impact of enablers such as targeted government initiatives for eg WISEKIRAN GATI the inspirational power of visible role models like the women scientists of the Indian Space Research Organisation ISRO and the burgeoning startup ecosystem supported by Startup India Sharma saidFLO recommended bridging the gap between educational attainment and workforce participation mandating genderdisaggregated data and pay gap reporting and creating a dedicated DeepTech Womens Fund to boost womens inclusion in STEM sectors IANS https://dailyworld.in/business/adding-more-women-in-stem-sectors-imperative-for-viksit-bharat-vision-645546.html Thu, 30 Oct 2025 15:20:00 +0530 https://dailyworld.in/business/indian-travellers-to-soon-pay-via-upi-in-malaysia-645552.html Bengaluru Oct 30 In a big step towards taking Indias digital payment innovation global Razorpay on Thursday announced that Indian travellers will soon be able to make UPI payments in Malaysia The move comes through Razorpays Malaysian entity Curlec in partnership with NPCI International Payments Limited NIPL the international arm of the National Payments Corporation of IndiaThe collaboration formalised at the Global Fintech Fest 2025 marks a major milestone in expanding UPIs acceptance beyond Indian bordersWith this integration millions of Indian tourists visiting Malaysia will be able to make instant secure payments to local businesses using their preferred UPI apps without needing international cards or worrying about currency exchange hasslesIn 2024 more than one million Indian tourists visited Malaysia and spent over Rs 110 billion a sharp 717 per cent rise from the previous yearThe growing flow of travellers between the two nations highlights the need for simpler cashless and costefficient payment solutionsThe introduction of UPI in Malaysia is expected to make transactions more seamless reduce foreign exchange costs and benefit both travellers and local merchantsUPI Indias flagship realtime payment system has revolutionised the way Indians make transactionsIn September 2025 alone it processed nearly 20 billion payments offering instant and secure money transfers at an unprecedented scaleBy connecting to this robust ecosystem Malaysian businesses can tap into a massive base of Indian travellers who trust and prefer UPI for their daytoday paymentsUnder the new arrangement Malaysian merchants will be able to accept payments directly through Razorpay Curlecs platform with settlements made in the local currency ringgit RMThis will allow Indian users to pay instantly via their UPIenabled apps just like they do in IndiaCommenting on the development Shashank Kumar Managing Director and Cofounder of Razorpay said UPI has totally changed the way India pays showing whats possible when innovation and inclusion come together at scaleNow with Curlec were bringing that same energy to Malaysia helping businesses and travellers enjoy the speed trust and simplicity that make Indias digital payments so powerful This isnt just about payments its about creating a truly borderless fintech future across Asia he said IANS https://dailyworld.in/business/indian-travellers-to-soon-pay-via-upi-in-malaysia-645552.html Thu, 30 Oct 2025 15:24:00 +0530 https://dailyworld.in/business/vodafone-idea-other-telecom-shares-slip-after-scs-written-order-on-agr-dues-645569.html New Delhi Oct 30 Vodafone Idea shares fell as much as 12 per cent on Thursday following the Supreme Courts written order permitting the Centre to reassess the telecom companys additional adjusted gross revenue AGR dues As of 1203 pm the Vodafone Idea Ltd stock has recovered from its intraday low to Rs 879 down 609 per cent during the day Earlier the stock had touched an intraday low of Rs 821This development also impacted the larger sector and affected other companies Indus Towers and Bharti Airtel fell 33 per cent and 15 per cent respectively while Bharti Hexacom declined 271 per cent to Rs 1866 per shareThe courts written judgement on October 29 specified that the order is applicable solely to Vodafone Idea and is restricted to incremental AGR dues incurred up to the financial year 201617 referencing the peculiar facts and circumstances of the caseEarlier the apex court on October 27 allowed the Centre to reconsider Vodafone Ideas AGR dues Vodafone Idea had touched a oneyear high of Rs 1057 on October 27 driven by expectations of government relief and had risen 35 per cent in 2025 to dateAnalysts said that the Supreme Court order applies only to the incremental AGR demand which is solely dependent on government policy Without substantial policy relief Vodafone Ideas stock will not improve significantly they addedUnion Minister of Communications Jyotiraditya Scindia on October 29 announced that the government will analyse the orders implications and will wait for Vodafone Idea to apply for seeking relief before making policy decisionsThe apex court noted that the Centre now holds 49 per cent equity in Vodafone Idea and that around 20 crore customers use its telecom services making the issue one of significant public interestVodafones latest petition flagged a fresh AGR demand of Rs 9450 crore raised by the Department of Telecommunications The petition contended that a substantial portion of the demand pertained to the pre2017 period which had already been settled by the Supreme Court IANS https://dailyworld.in/business/vodafone-idea-other-telecom-shares-slip-after-scs-written-order-on-agr-dues-645569.html Thu, 30 Oct 2025 15:38:00 +0530 https://dailyworld.in/business/centre-tightens-verification-of-weights-and-measures-to-protect-consumers-645572.html New Delhi Oct 30 The Department of Consumer Affairs has notified significant amendments to the Legal Metrology Government Approved Test Centre Rules 2013 These amendments mark a major milestone in expanding Indias verification infrastructure for weights and measures ensuring transparency accuracy and fairness in trade an official statement said on Thursday The revised rules aim to strengthen consumer protection promote ease of doing business and align Indias system of verification with international best practices according to the official statement The amended rules significantly broaden the scope of Government Approved Test Centres GATCs to cover 18 categories of weighing and measuring instruments including water meters energy meters gas meters clinical thermometers moisture meters flow meters sphygmomanometers and nonautomatic weighing instruments The inclusion of new categories such as flow meters breath analysers multidimensional measuring instruments and speed guns reflects the governments commitment to keeping pace with evolving technologies and industrial needs These instruments play a vital role in sectors such as healthcare transport energy and infrastructure where precision in measurement directly impacts safety quality and consumer confidence The participation of private laboratories and industries as GATCs alongside government facilities will increase verification capacity improve accessibility and reduce waiting time for industries the statement explained The initiative supports the governments vision of Atmanirbhar Bharat by promoting indigenous testing facilities and leveraging publicprivate partnership to expand the national verification network The recognition of Regional Reference Standard Laboratories RRSLs and National Test House NTH laboratories as deemed GATCs ensures a nationwide network for verification of consumer facing instruments the statement said Regular and decentralised verification of weighing scales water meters energy meters etc will minimise the risk of inaccurate measurements and ensure consumers get full value for their money The amendments act as a force multiplier for State Legal Metrology Departments With Government Approved Test Centres GATCs undertaking verification work State Legal Metrology Officers can devote more time to inspection enforcement and addressing consumer grievances The Rules also introduce clarity regarding jurisdiction permitting GATCs to verify instruments within districts and across the state and harmonize verification fees through a newly inserted Fifth Schedule Rules streamline the process for GATC recognition by requiring applications to be submitted to the Joint Secretary Department of Consumer Affairs in a prescribed format They also provide clear criteria for inspection staff qualifications and technical requirements along with digital payment options for fee submission This transparent and structured approach will reduce compliance burden promote faster service delivery and foster greater confidence among industry stakeholders Union Minister of Consumer Affairs Pralhad Joshi said the amendment to the Legal Metrology Government Approved Test Centre Rules is a major step towards modernizing Indias legal metrology ecosystem It empowers industry participation ensures accurate measurements for consumers and strengthens the hands of our enforcement officers With this reform India is building a transparent technologydriven and selfreliant system of measurement verification that enhances fairness in trade and protects consumer rights As an OIML Certification Authority India now holds the capability to issue internationally accepted OIML certificates paving the way for domestic manufacturers to obtain globally recognised certification within the country who earlier had to rely on foreign authorities for the same This will reduce costs save time and enhance Indias competitiveness in the global measurement instrument market the statement added IANS https://dailyworld.in/business/centre-tightens-verification-of-weights-and-measures-to-protect-consumers-645572.html Thu, 30 Oct 2025 15:40:00 +0530 https://dailyworld.in/business/nmdc-posts-33-pc-surge-in-q2-net-profit-at-rs-1-694-crore-645574.html New Delhi Oct 30 Public sector mining major NMDC recorded a robust 33 per cent increase in net profit at Rs 1694 crore in the second quarter JulySeptember of the current financial year amid a strong domestic steel demand and resilient mining operations according to an official statement issued on Thursday The companys turnover for the second quarter surged 30 per cent to Rs 6261 crore while the profit before tax jumped 35 per cent to Rs 2271 crore The governmentowned mining company also recorded a 32 per cent rise in its EBITDA earnings before interest tax depreciation and amortisation to Rs 2385 crore during the quarterThe company recorded an alltime high production and sales volumes during the quarter in Q2 FY26 with the output at 1021 million tonnes up 23 per cent from the same period last year Sales of iron ore during the period reached 1072 million tonnes an increase of 10 per cent over Q2 FY25 the statement saidAmitava Mukherjee NMDC Chairman and MD said Record production record sales and strong financial growth this quarter are all indicators of our historic reliability Highquality ore supply ambitious expansion plans and responsiveness to national policy goals continue to make NMDC a key enabler of Indias industrial aspirations Going forward our strategic efforts are guided by the responsibility to achieve selfsufficiency in steelmaking raw materials while also reaching netzero emissionsNMDC is engaged in exploration and production of iron ore along with diamond production and sale of sponge iron and generation and sale of wind powerThe mining major had also set a new benchmark in FY 202425 achieving a total production of 4404 million tonnes and sales of 444 million tonnes The company also recorded its bestever Q4 sales reaching 1266 million tonnes the highest since its inceptionStrengthening its expansion plans NMDC registered a record standalone capital expenditure CAPEX of Rs 3707 crore in FY25 underlining its investment in capacity building and infrastructure projects IANS https://dailyworld.in/business/nmdc-posts-33-pc-surge-in-q2-net-profit-at-rs-1-694-crore-645574.html Thu, 30 Oct 2025 15:42:00 +0530 https://dailyworld.in/business/alphabets-revenue-crosses-100-billion-for-1st-time-gemini-tops-650-mn-monthly-active-users-645582.html New Delhi Oct 30 Sundar Pichai CEO and Director of Googles parent company Alphabet has announced that the company has achieved its first 100 billion quarter fuelled by strong doubledigit growth across all its verticals including search cloud and YouTube During Alphabets Q3 2025 earnings call Pichai announced that the Gemini app has surpassed 650 million monthly active users with queries increasing threefold since Q2Cloud had another great quarter of accelerating growth with AI revenue as a key driver The cloud backlog grew 46 per cent quarteroverquarter to 155 billion And we crossed 300 million in paid subscriptions led by growth in Google One and YouTube Premium said PichaiAI Mode launched globally in 40 languages now has over 75 million daily active users and the company shipped 100 product improvements in Q3 he said adding that AI Mode is already driving incremental total query growth for the companys Search verticalAlphabets firstparty models process approximately 7 billion tokens per minute through a direct API used by its customersWe are scaling the most advanced chips in our data centers including GPUs from our partner NVIDIA as well as our own purposeful TPUs the CEO addedGoogle Services revenue reached 87 billion for the quarter up 14 per cent YoY said Philipp Schindler Senior Vice President amp Chief Business Officer of Google in the quarterly earnings callAccelerated growth in Search and YouTube drove the surge partially offset by a YoY decline in network revenuesThe 15 per cent increase in Google Search was led by growth across all major verticals with the largest contributions from retail and financial services YouTube saw similar performance across verticals with 15 per cent growth in advertising revenuesGoogles investments in new AI experiences such as AI Overviews and AI Mode continued to drive growth in overall queries including commercial queries creating more opportunities for monetisation he said IANS https://dailyworld.in/business/alphabets-revenue-crosses-100-billion-for-1st-time-gemini-tops-650-mn-monthly-active-users-645582.html Thu, 30 Oct 2025 15:46:00 +0530 https://dailyworld.in/business/samsung-expands-galaxy-ai-to-support-22-languages-adds-gujarati-and-filipino-645584.html Gurugram Oct 30 Samsung Electronics Co Ltd On Thursday announced that its Galaxy AI platform now supports 22 languages with the addition of Gujarati and Filipino The new language update began rolling out on October 29 furthering Samsungs goal of making artificial intelligence more inclusive and accessible across the worldWith this expansion Galaxy AI brings its powerful tools to even more users helping people communicate and stay productive in their preferred languagesThe update allows users to download the new language packs directly from the Settings appGalaxy AI includes several smart features that make daily communication easier The Live Translate feature enables realtime twoway voice and text translation during phone calls making crossborder conversations smootherThe Interpreter tool instantly translates facetoface talks on a split screen useful while traveling dining out or asking for directionsOther tools like Chat Assist Note Assist Transcript Assist and Browsing Assist help users write summarise translate and stay organised more efficientlyThese AI features are designed to feel natural and adapt to the unique ways people communicate in different regionsThe new Gujarati and Filipino language support was developed in collaboration with Samsung Research centers in India and IndonesiaThis effort highlights Samsungs focus on building localized language models that reflect cultural and linguistic nuancesThe addition of Gujarati to Galaxy AI is a significant milestone in our mission to democratise AI in India a country known for its linguistic diversity said Giridhar Jakki Senior Director and Head of the Language AI Team at Samsung RampD Institute India BengaluruBy including Gujarati we are empowering native speakers to use features like Call Assist and Interpreter seamlessly powered by our advanced ondevice AI technology Jakki addedGalaxy AI has become an integral part of users lives since its launch According to Samsung more than 70 per cent of Galaxy S25 users worldwide use Galaxy AI and Google Gemini features regularly with nearly half depending on AI dailyIn India engagement is even higher 91 per cent of Galaxy S25 users actively use Galaxy AI IANS https://dailyworld.in/business/samsung-expands-galaxy-ai-to-support-22-languages-adds-gujarati-and-filipino-645584.html Thu, 30 Oct 2025 15:47:00 +0530 https://dailyworld.in/business/china-suspends-export-control-on-rare-earth-minerals-for-one-year-645590.html New Delhi Oct 30 China on Thursday announced that it will suspend certain export restrictions including export control on rare earth minerals for one year The development came after US President Donald Trump and his Chinese counterpart Xi Jinping agreed to ease trade tensions between the worlds two largest economiesEarlier on October 9 Beijing announced further controls on the export of rareearth technologies and items adding to existing regulations on the critical industryThe export restrictions were a reaction to US tariffs that were about to take effect following the expiration of an interim trade agreementHowever for a year the restrictions will be lifted while the Chinese government reviews and improves certain plansEarlier in a significant development the US President said that he and Xi Jinping have agreed on a oneyear deal for the supply of crucial rare earth materialsThe announcement followed the two leaders first facetoface encounter in six years which took place on the fringes of the 32nd APEC Economic Leaders Meeting in Busan South KoreaAccording to Trump the agreement which will be renewed yearly marks a substantial improvement in the tense trade relationship between the two nationsAll the rare earths have been settled and thats for the world Trump told reporters aboard Air Force One after the meetingHe added that he had also agreed to reduce fentanylrelated tariffs on China from 20 per cent to 10 per cent describing the meeting with Xi as a 12 out of 10Trump said A lot of things we brought to finalisation and praised the Chinese President as a tremendous leader of a mighty countryClearing the air on his China visit Trump revealed that he will visit China in April while Xi is expected to travel to the US later IANS https://dailyworld.in/business/china-suspends-export-control-on-rare-earth-minerals-for-one-year-645590.html Thu, 30 Oct 2025 15:51:00 +0530 https://dailyworld.in/business/adani-power-clocks-strong-financial-performance-in-q2-power-sale-volume-up-74-pc-645591.html Ahmedabad Oct 30 Adani Power Ltd APL on Thursday reported strong continuing operating revenue for Q2 FY26 of Rs 1310634 crore compared to Rs 1294912 Crore in Q2 FY25 on the basis of higher volumes as the company registered higher consolidated power sale volume by 74 per cent at 237 billion units despite high base effect and demand disruption due to early and prolonged monsoons The Adani Group company reported stable consolidated EBITDA for Q2 at Rs 6001 crore compared to Rs 6000 crore for Q2 FY25 despite additional operating expenses of recent acquisitions yearonyearIn the JulySeptember period the company witnessed new longterm power purchase agreement PPAs awards of 2400 MW from Bihar Discom 1600 MW from Madhya Pradesh Discom and 570 MW from Karnataka Discom by October 25Adani Power also acquired 600 MW Vidarbha Industries Power Limited under Corporate Insolvency Resolution Process taking total capacity to 18150 MWAdani Power has once again demonstrated robust and stable financial performance this quarter in the face of weatherdriven fluctuations in demand highlighting our operational efficiency and competitive advantages We are steadily expanding our presence in the market by securing another 45 GW of new longterm PPAs under the SHAKTI scheme said SB Khyalia CEO Adani Power LimitedOur strong profitability and liquidity position us well to achieve our enhanced capacity expansion goal of 42 GW by 203132 We have already arranged ordering for equipment and land for the entire 237 GW expansion with project implementation progressing rapidly he mentionedMerchant and shortterm sale volume for Q2 FY26 was 129 per cent higher at 57 BU as compared to 50 BU in Q2 FY25 Similarly the merchant volume was 105 per cent higher at 114 BU for H1 FY26 as compared to 103 BU for H1 FY25We are proud to play a pivotal role in Indias power sector growth and stay strongly committed to supporting the nations need for dependable scalable and sustainable electricity said Khyalia IANS https://dailyworld.in/business/adani-power-clocks-strong-financial-performance-in-q2-power-sale-volume-up-74-pc-645591.html Thu, 30 Oct 2025 15:52:00 +0530 https://dailyworld.in/business/anil-ambanis-reliance-group-used-dozens-of-shell-entities-to-divert-funds-cobrapost-report-645603.html New Delhi Oct 30 News website Cobrapost in its report on the alleged siphoning of Rs 28874 crore by the Anil Ambaniled Reliance Group on Thursday claimed that the modus operandi deployed included the use of dozens of passthrough entities called Special Purpose Vehicles SPVs subsidiaries shell companies or offshore entities based in the British Virgin Islands BVI Cyprus Mauritius the United States the United Kingdom and Singapore to route funds to Reliance Innoventure the main holding company of the group This was allegedly done by way of granting loans to subsidiaries and allotment of debentures and preference shares and siphoning off those funds using SPVs or shell entities and then writing off the loansThis way the ADA Group companies allegedly siphoned off Rs 28874 crore even as US153 billion was diverted to India in suspicious transactions Almost all of the offshore funds which landed in the ADA Group entities were raised in external commercial borrowings according to the reportCobrapost highlights the purchase of a luxury yacht for 20 million in 2008 which the report alleges was bought by diverting funds from Reliance Communication to Reliance Transport amp Travels Pvt Ltd an ADA Group subsidiary This was done in a circuitous manner with layers added at each step to camouflage the diversion of the fundThere are many such instances of diversion of funds which the Cobrapost investigation has catalogued The companies involved are Reliance Communication Reliance Capital Reliance Home Finance Ltd Reliance Commercial Finance Ltd and Reliance Corporate Advisory Services Ltd We have identified dozens of subsidiaries and shell entities which are involved in this fraud the Cobrapost report allegesReliance Home Finance is alleged to have diverted around Rs 7965 crore to 49 related entities ultimately these funds landed in 14 ADAcontrolled entities Reliance Commercial Finance too allegedly channelled Rs 49799 crore through 27 companies to promoter interests Further Reliance Corporate Advisory Services is accused of diverting Rs 1400 crore via intercorporate loans with zero interest the report allegesHowever Reliance ADA group has dismissed Cobraposts report as a malicious and agendadriven campaign and alleged that the media platforms socalled exposé is a deliberate attempt to damage the groups reputation and mislead stakeholders The Anil Ambaniled company alleged Cobrapost has been dormant since 2019 and its revival is fully funded by entities with direct commercial interest in acquiring Reliance Group assets IANS https://dailyworld.in/business/anil-ambanis-reliance-group-used-dozens-of-shell-entities-to-divert-funds-cobrapost-report-645603.html Thu, 30 Oct 2025 16:23:00 +0530 https://dailyworld.in/business/indias-insurtech-sectors-cumulative-valuations-cross-158-billion-645607.html New Delhi Oct 30 India has a sizeable insurtech ecosystem with over 150 active players whose cumulative valuations crossed 158 billion and revenues surpassed 09 billion in 2024 a 10 times increase since 2019 a report said on Thursday The sector has two unicorns eight players between 100 million 1 billion and more than 45 players over 1 million mark Despite a slowdown in insurtech funding in 2024 Health insurtechs in India accounted for four of the five largest deals and more than 70 per cent of the funding reflecting their role in driving access efficiency and innovationIn the year global Insurtech funding slowed down to 41 billion in line with the wider fintech correctionRegional dynamics have shifted with Europe the Middle East and Africa EMEA gaining share as AsiaPacific APAC declined India also mirrored the global trends signalling a shift in investor focus to backing businesses with clear paths to profitability and scale India InsurTech Association IIA said in its joint report with Boston Consulting Group BCGHowever the next chapter will be defined not by growth at any cost but by sustainable profitable operating models it addedGenAI has the potential to fundamentally transform the value chain from distribution to claims and from marketing to servicing by improving efficiency accuracy and customer experienceAccording to the report the opportunity now is to move decisively beyond pilots and embed adoption at scaleAI and GenAI offer a 4 billion profit opportunity for Indias insurance industry There are three key imperatives for organizations to achieve this value focus on 23 high value pools rather than let a thousand flowers bloom investing in highquality data and balancing traditional and generative models to manage costs and maximize value said Pallavi Malani Managing Director and Partner LeadIndia Insurance Practice at BCG and coauthor of the reportWhere implemented effectively AI and GenAI have already delivered 1020 per cent efficiency gains in underwriting 2040 per cent lower service costs and 37 per cent improvement in claims payout she addedAs per the report GenAI has emerged as the next major force shaping the insurance industry The technology has evolved from AI to GenAI and now Agentic AI with insurance ranking second globally in adoption behind only technologyUse cases span the entire operating model sales and distribution underwriting claims renewals and servicingLarge insurers deploying GenAI are already seeing significant impact with 1520 per cent productivity increase for agents 1020 per cent efficiency gains in underwriting 2030 per cent lower service costs and 37 per cent increase in claims payout efficiencyInsurtechs are central to this transformation coinnovating with insurers and productizing AI modules for distribution underwriting claims servicing and renewalsGlobal insurtech funding dropped from nearly 14 billion in 2021 to about 4 billion in 2024 in line with the wider fintech correction India too has mirrored the global funding trends said Vivek Mandhata Managing Director and Partner at BCG and coauthor of the report IANS https://dailyworld.in/business/indias-insurtech-sectors-cumulative-valuations-cross-158-billion-645607.html Thu, 30 Oct 2025 16:25:00 +0530 https://dailyworld.in/business/adani-airports-joins-aionos-to-launch-ai-powered-passenger-support-system-645608.html Ahmedabad Oct 30 Adani Airport Holdings Limited AAHL a subsidiary of Adani Enterprises Limited AEL and Indias largest private airport operator on Thursday signed a strategic partnership with AIONOS an InterGlobe Enterprises company and global leader in enterprise AI to boost the passenger support experience across all Adani airports Under this partnership AIONOS will deploy its proprietary Agentic AI platform IntelliMate to power personalised realtime interactions with travellers through voice chat web and mobile The collaboration aims to introduce a multilingual omnichannel AI solution designed to transform the passenger support experience across all Adani airportsUnder this partnership AIONOS will deploy its proprietary Agentic AI platform IntelliMate to power personalised realtime interactions with travellers through voice chat web and mobileThe AI system will act as a 24x7 virtual concierge helping passengers with flight updates gate details baggage tracking airport directions and service information all available in multiple languages including English Hindi and regional dialectsThe AIdriven platform will ensure passengers receive consistent and contextaware assistance across all touchpoints improving customer satisfaction while reducing service turnaround timesIt also aims to make travel more inclusive by offering languagefriendly and easily accessible supportThis move is part of AAHLs broader digital transformation strategy which focuses on enhancing convenience comfort and personalisation for passengersThe companys digital vision rests on three key areas collaboration within the airport ecosystem for smoother operations delivering toptier passenger experiences and building robust digital infrastructure for the futureArun Bansal CEO of Adani Airport Holdings Limited said Our vision is to redefine the airport experience through intelligent digitalfirst innovations that put passengers at the centreWith AIONOS we are taking a major step towards creating seamless personalised journeys across all our airports Bansal said adding that together with our inhouse platforms such as aviio Adani OneApp and AirportinaBox we are building a connected and sustainable airport ecosystemCP Gurnani Cofounder and Vice Chairman of AIONOS added We are excited to partner with AAHL in this transformative journey This collaboration reflects our shared goal of using advanced AI technologies to create worldclass customer experiences and help enterprises achieve their digital ambitionsThe partnership between Adani Airports and AIONOS marks a significant milestone in Indias aviation sector IANS https://dailyworld.in/business/adani-airports-joins-aionos-to-launch-ai-powered-passenger-support-system-645608.html Thu, 30 Oct 2025 16:26:00 +0530 https://dailyworld.in/business/indias-digital-transformation-spurs-fdi-in-fintech-provides-valuable-insights-for-africa-645617.html New Delhi Oct 30 Foreign investors are increasingly flocking to Indias financial sector as the country transforms a large population of previously unbanked individuals into a datarich market a recent report said urging Africa to pursue the same model Despite challenges from external trade headwinds and widespread account dormancy the FDI influx suggests confidence in Indias digitallydriven transformation where its huge population is harnessed as a scalable market through innovative policies and fintech ecosystems the report from Sunday Independent saidThe report also noted an internal contradiction of nearly 89 per cent adult account penetration against 25 per cent account dormancy rates Despite this dormancy rate investors like Citigroup Barclays and Japans MUFG are expanding through datadriven credit scoring and microproducts into the Indian marketThe core driver is Indias shift from an informal cashbased economy where the governments digitisation initiatives have created a fintech ecosystem that unlocks value from previously invisible populations the report notedEvery transaction generates data that allows lenders to assess creditworthiness enabling offerings like microloans insurance and savings products to a new consumer base Investors like Citigroup and Barclays aim to gain access to this scalable market of 14 billion people the report saidFurther India is currently addressing the issue of account inactivity through targeted innovations and policies Fintech firms like Paytm and PhonePe use UPI to deliver tailored products for lowincome users leveraging alternative data such as mobile usage for credit scoring it addedThe South Africanbased publication argued that Indias model provides valuable insights for Africa to prioritise digital infrastructure tackle inactivity through innovation and transform demographics into assetsIndias success shows that inclusive digitisation reduces costs boosts usage and draws FDI evidenced by Indias over 50 billion inflows in 202425 the report noted IANS https://dailyworld.in/business/indias-digital-transformation-spurs-fdi-in-fintech-provides-valuable-insights-for-africa-645617.html Thu, 30 Oct 2025 16:56:00 +0530 https://dailyworld.in/business/aditya-birla-capitals-q2-net-profit-falls-13-pc-to-rs-8825-crore-645620.html Mumbai Oct 30 Aditya Birla Capital Limited ABCL on Thursday reported a 13 per cent yearonyear YoY drop in consolidated net profit to Rs 8825 crore for the September quarter Q2 FY26 compared to Rs 1015 crore in the same period last fiscal Q2 FY25 The previous years results had included a onetime gain of Rs 167 crore the company said in its stock exchange filingThe companys consolidated revenue rose 4 per cent yearonyear to Rs 12481 crore while consolidated profit increased 3 per cent to Rs 855 croreDespite the decline in profit shares of Aditya Birla Capital were trading higher by over 5 per cent at Rs 327 up by Rs 1620 as of 330 pmAditya Birla Capitals nonbanking financial company NBFC arm reported strong business growth with disbursements rising 14 per cent yearonyear and 39 per cent sequentially to Rs 21990 croreThe NBFCs assets under management AUM grew 22 per cent yearonyear and 6 per cent quarteronquarter to Rs 139 lakh crore while the overall loan book expanded 29 per cent to Rs 178 lakh croreIn its financial services business which includes asset management and insurance the companys total AUM rose 10 per cent yearonyear to Rs 55 lakh croreThis growth was driven by steady investor inflows across both retail and institutional segmentsThe company said its diversified portfolio across lending insurance and asset management continues to support stable growth even in a high interest rate environmentAditya Birla Capital the financial services arm of the Aditya Birla Group also highlighted the growing strength of its digital platformsIts directtoconsumer platform ABCD offers over 26 financial products and services including payments loans insurance and investmentsThe platform has onboarded more than 76 lakh customers as of September 30Meanwhile its B2B platform Udyog Plus which caters to the MSME ecosystem with digital solutions for business loans and supply chain financing has seen registrations rise to 24 lakh with an AUM of Rs 4397 crore IANS https://dailyworld.in/business/aditya-birla-capitals-q2-net-profit-falls-13-pc-to-rs-8825-crore-645620.html Thu, 30 Oct 2025 17:29:00 +0530 https://dailyworld.in/business/indias-45-day-wedding-season-to-generate-rs-65-lakh-crore-create-1-crore-part-time-jobs-report-645625.html New Delhi Oct 30 Indias 45day wedding season starting November 1 is projected to generate an unprecedented Rs 65 lakh crore from an estimated 46 lakh weddings a report said on Thursday Delhi is expected to contribute Rs 18 lakh crore from 48 lakh weddings according to the study by the CAIT Research and Trade Development Society CRTDSThe research arm of Confederation of All India Traders CAIT said that the study in 75 cities revealed that spending per wedding increased despite a nearly unchanged wedding count from the previous yearCAIT Secretary General and Chandni Chowk MP Praveen Khandelwal said that the rise reflects higher disposable incomes inflation in precious metals and rising consumer confidence after a recordbreaking festive seasonIn 2024 48 lakh weddings were held at a cost of Rs 590 lakh crore compared to 38 lakh weddings at Rs 474 lakh crore in 2023The study highlights a strong shift toward Swadeshi products with over 70 per cent of weddingrelated purchases now being Indianmade including apparel jewellery decor utensils and catering itemsCAITs Vocal for Local Weddings campaign has substantially reduced the presence of imported goods such as Chinese lighting artificial decor and gift accessories the report saidTraditional artisans jewellers and textile producers are witnessing a surge in orders symbolising the strength of Indias local manufacturing and craftsmanship it addedKhandelwal said that this wedding season could generate over 1 crore temporary and parttime jobs directly benefiting decorators caterers florists artists transporters and hospitality staffMSMEs in textiles jewellery handicrafts packaging and logistics will gain substantial seasonal momentum he addedThe report estimated that the wedding season will contribute approximately Rs 75000 crore to government tax revenuesCAITs sectoral estimate said that jewellery will be the largest contributor to economic activity during wedding season with a 15 per cent contribution while apparel and sarees contribute 10 per cent IANS https://dailyworld.in/business/indias-45-day-wedding-season-to-generate-rs-65-lakh-crore-create-1-crore-part-time-jobs-report-645625.html Thu, 30 Oct 2025 17:38:00 +0530 https://dailyworld.in/business/exide-industries-faces-income-tax-survey-postpones-q2-results-645626.html Mumbai Oct 30 The Income Tax Department carried out a survey at the offices and manufacturing units of Exide Industries the battery maker said in a statement on Thursday The company said it is fully cooperating with the authorities and clarified that the survey has not had any significant impact on its business operationsWe hereby inform you that the Income Tax department is conducting Survey at the Companys offices and manufacturing units in India since October 29 the Kolkatabased firm said in regulatory filingThe proceedings are underway and the Company is extending its full cooperation to the department it added in its filingExide which was scheduled to announce its secondquarter financial results on Thursday has postponed the board meeting and said it will announce a new date laterCurrently there is no material impact on the business operations of the Company due to the aforesaid action Exide saidThe battery maker added In the event there is any further material update that requires intimation under the SEBI Listing Regulations the Company will make necessary disclosures in accordance with regulatory provisionsThe Company shall inform the revised date of Board meeting in due course it mentionedFollowing the news Exide Industries shares fell as much as 18 per cent during the intraday but later recovered some losses and were closed at Rs 38320 down by Rs 140 or 036 per cent on the National Stock Exchange NSEIn last five days the shares have dropped by Rs 740 or 189 per cent It was down by Rs 755 or 193 per cent in the last month However it was up by Rs 3145 or 894 per cent in past six monthsOn yeartodate YTD basis the shares were up by Rs 3815 or 905 per cent In last one year the investors received negative return of Rs 8205 or 1764 per cent IANS https://dailyworld.in/business/exide-industries-faces-income-tax-survey-postpones-q2-results-645626.html Thu, 30 Oct 2025 18:17:00 +0530 https://dailyworld.in/business/cipla-global-ceo-umang-vohra-to-step-down-achin-gupta-announces-as-successor-645627.html New Delhi Oct 30 Pharma major Cipla Ltd on Thursday announced a major leadership change with Umang Vohra Managing Director and Global Chief Executive Officer MD and GCEO set to step down at the end of his current term in March 2026 The companys board has approved the appointment of Achin Gupta currently the Global Chief Operating Officer as the next MD and GCEO effective April 1 2026 subject to shareholder approvalVohra who has been at the helm since 2016 has led Cipla through a period of strong global expansion and strategic transformation over the past decadeUmang Vohra Managing Director and Global Chief Executive Officer MD and GCEO expressed his intention not to seek reappointment upon completion of his current term on March 31 2026 the Company said in its exchange filingAs part of the Companys structured succession planning Achin Gupta Global Chief Operating Officer has been elevated and appointed as the MD and GCEO of the Company with effect from April 1 2026 for a term of 5 years it addedHowever Guptas appointment is subject to the approval of the shareholders who have also been appointed as an additional director of the Company with effect from April 1Additionally Meera Vanjari General Counsel Designate has been appointed as the global general counsel and senior management personnel of the CompanyShe will succeed AS Kumar who will complete his term on March 31Meanwhile the drugmakers net profit for the second quarter of this fiscal Q2FY26 rose 373 per cent yearonyear YoY to Rs 135117 crore as compared to Rs 130253 crore according to a regulatory filingThe companys revenue from operations witnessed a 763 per cent YoY surge to 758944 crore during the quarter under review compared to Rs 705102 crore in the same period a year ago IANS https://dailyworld.in/business/cipla-global-ceo-umang-vohra-to-step-down-achin-gupta-announces-as-successor-645627.html Thu, 30 Oct 2025 18:18:00 +0530 https://dailyworld.in/business/annual-cap-on-us-investment-better-for-s-korea-than-currency-swap-645628.html Seoul Oct 30 Finance Minister Koo Yuncheol said on Thursday that South Koreas agreement with the United States to cap annual cash investments at 20 billion without establishing a currency swap arrangement is more advantageous for the national interest Koo made the remarks during a parliamentary audit one day after South Korea and the US finalised their tariff agreement which includes a 200 billion cash investment in the US with annual investments capped at 20 billion as part of a broader 350 billion investment pledge reports Yonhap news agencyThe remaining 150 billion will be allocated to bilateral shipbuilding cooperation projectsBy setting an annual investment ceiling we can flexibly adjust the payment amount if difficulties arise in the foreign exchange market without incurring additional costs Koo said noting that a currency swap with the US would carry an interest rate of around 4 per centWe judged this approach to be far more favorable to our national interest he addedEarlier the Seoul government proposed a foreign exchange swap line with the US with President Lee Jae Myung warning that the Korean economy could face a crisis comparable to the 1997 financial meltdown if his government accepts US demands for investment without safeguardsKim Yongbeom the presidential chief of staff for policy told a press briefing Wednesday that the two sides developed a mutual understanding of South Koreas concerns about potential foreign exchange market disruptions during the trade negotiations and discussions shifted toward setting annual investment caps which reduced the need for a currency swap arrangementMeanwhile Seoul stocks shed earlier gains and closed almost flat Thursday as the outcome of a highly anticipated USChina summit was unable to ease trade uncertainties The local currency rose against the greenbackThe benchmark Korea Composite Stock Price Index KOSPI gained 574 points or 014 per cent to close at 408689 IANS https://dailyworld.in/business/annual-cap-on-us-investment-better-for-s-korea-than-currency-swap-645628.html Thu, 30 Oct 2025 18:19:00 +0530 https://dailyworld.in/business/foreign-currency-deposits-in-s-korea-fall-in-sept-on-overseas-investment-bok-645423.html Seoul Oct 29 Foreign currency deposits in South Korea declined in September on increased overseas investments by pension funds and corporate payments for trade settlements central bank data showed on Wednesday Outstanding foreign currencydenominated deposits held by residents came to 10709 billion as of endSeptember down 550 million from a month earlier according to the data from the Bank of Korea BOK reports Yonhap news agencyResidents include South Korean citizens foreigners who have lived in the country for more than six months and foreign companies The data excludes interbank depositsCorporate foreign currency deposits fell 700 million onmonth to 9226 billion while individual holdings edged up by 150 million to 1483 billionBy currency US dollardenominated deposits dropped 240 million to 9072 billion and Japanese yen deposits declined 150 million to 889 billion Euro deposits slipped 120 million to 501 billionBut Chinese yuan deposits grew 60 million to 119 billionDollardenominated deposits declined mainly due to a decrease in investors margin deposits at securities firms overseas investments by pension funds and corporate payments for trade settlements a BOK official saidMeanwhile South Korean stocks extended gains late Wednesday morning led mostly by chipmakers and other tech companies The benchmark Korea Composite Stock Price Index had gained 5677 points or 142 per cent to 406718Top tech giant Samsung Electronics rose 111 per cent and SK hynix added 422 per cent Top search engine operator Naver jumped 573 per cent and Kakao gained 801 per centSteelmakers traded higher as well with POSCO Holdings rising 062 per cent and Korea Zinc climbing 828 per cent The local currency was trading at 14338 won against the greenback as of 1120 am up 39 won from the previous sessions close IANS https://dailyworld.in/business/foreign-currency-deposits-in-s-korea-fall-in-sept-on-overseas-investment-bok-645423.html Wed, 29 Oct 2025 18:34:00 +0530 https://dailyworld.in/business/rbi-boosts-gold-holdings-in-india-to-5758-tonnes-domestic-prices-edge-higher-645426.html Mumbai Oct 29 Indias gold reserves are increasingly being stored within the country as the Reserve Bank of India RBI continues to shift its holdings back home The move comes at a time when nations across the world are using financial sanctions and asset freezes as tools of geopolitical pressureAccording to official data the RBI brought around 64 tonnes of gold to India during the first six months of the current financial yearAs of Septemberend Indias total gold holdings stood at 8808 tonnes out of which 5758 tonnes are now kept in domestic vaultsThe remaining 2903 tonnes are held with the Bank of England and the Bank for International Settlements BISAdditionally 14 tonnes are part of gold deposit arrangements as per the official dataSince March 2023 the RBI has brought back 274 tonnes of gold from overseas locationsThis largescale repatriation began after the RussiaUkraine conflict and the Taliban takeover of Afghanistan when G7 nations froze the foreign currency reserves of both countriesThe RBIs decision to keep a larger share of its gold at home reflects growing concerns over the safety of overseas reserves amid rising global tensionsMeanwhile gold prices in India rose on Wednesday tracking gains in international bullion markets ahead of the US Federal Reserves interest rate decisionOn the Multi Commodity Exchange MCX gold opened nearly flat at Rs 119647 per 10 grams compared to its previous close of Rs 119646Later it rose by Rs 401 or 034 per cent trading at Rs 120047 per 10 grams during early tradeSilver prices also gained opening at Rs 144761 per kg and rising Rs 989 or 069 per cent to Rs 145331 per kgIn the global market spot gold edged up 02 per cent to 395742 per ounce after touching its lowest level since October 7 on TuesdayHowever easing USChina trade tensions limited gains even as investors awaited an expected US Fed rate cutSo far this year gold prices have surged nearly 52 per cent hitting an alltime high of 438121 per ounce on October 20The rally has been driven by global uncertainties expectations of rate cuts and continued buying by central banks including the RBI IANS https://dailyworld.in/business/rbi-boosts-gold-holdings-in-india-to-5758-tonnes-domestic-prices-edge-higher-645426.html Wed, 29 Oct 2025 18:38:00 +0530 https://dailyworld.in/business/grokipedia-will-exceed-wikipedia-by-several-orders-of-magnitude-in-breadth-depth-and-accuracy-elon-musk-645434.html New Delhi Oct 29 Elon Musk on Wednesday took a dig at Wikipedia claiming that his new platform Grokipedia will surpass the popular online encyclopedia by several orders of magnitude in breadth depth and accuracy Musk made the statement while responding to a user on his social media platform XDeveloped by xAI Musks artificial intelligence company and the creator of the chatbot Grok Grokipedia is an AIpowered encyclopedia that aims to challenge what Musk calls a woke and biased WikipediaHe described Grokipedia as a massive improvement over Wikipedia and said it aligns with xAIs broader mission to help humanity better understand the universeThe idea for Grokipedia emerged last month after Musks friend David Sacks who is also known as US President Donald Trumps AI and crypto advisor suggested that Musk build a Wikipedia alternativeMusk agreed saying that an AIgenerated encyclopedia would be super important for civilisation because it would eliminate human bias and political leanings in information sharingWhen users search for a topic on Grokipedia the site displays a list of related articles that have been factchecked by Grok xAIs conversational AI model along with timestamps showing when the information was last updatedUnlike Wikipedia visitors cannot directly edit any entries Instead they can suggest corrections or flag inaccuracies using a feedback formInterestingly some content on Grokipedia currently includes a disclaimer stating that it has been adapted from Wikipedia under the Creative Commons AttributionShareAlike 40 LicenseThis indicates that the platform is still partly sourcing its data from Wikipedia However Musk has said he plans to end this dependence by the end of the yearAt present Grokipedia reportedly hosts 885279 articles and that number is expected to rise rapidly in the coming daysMusk has also confirmed that the underlying AI is open source allowing anyone to use or study it freelyCurrently Grokipedia is available only through a web browser with no word yet on whether xAI will release a mobile app for Android or iOS IANS https://dailyworld.in/business/grokipedia-will-exceed-wikipedia-by-several-orders-of-magnitude-in-breadth-depth-and-accuracy-elon-musk-645434.html Wed, 29 Oct 2025 18:44:00 +0530 https://dailyworld.in/business/right-time-to-invest-in-indias-maritime-sector-amid-global-tensions-pm-modi-645451.html Mumbai Oct 29 IANS Prime Minister Narendra Modi said on Wednesday that the maritime sector is driving Indias growth asserting that over the last decade it has transformed significantly boosting trade and port infrastructurenbspThe Prime Minister added that amid global tensions trade disruptions and shifting supply chains India stands as a symbol of strategic autonomy peace and inclusive growthnbspWhen the global seas are rough the world looks for a steady lighthouse India is well poised to play that role with strength and stability he saidHe also appealed to the investors to invest in Indias maritime sector saying that this is the right and opportune time for the samenbspnbspThis is the right time to work and expand in Indias shipping sector The inauguration of several projects related to the Shipping sector has taken place here MoUs worth crores of rupees related to the Shipping sector have also been issued said PM Modi while addressing the Global Maritime CEO Forum the flagship event of India Maritime Week IMW 2025nbspThe Prime Minister added that this shows how much faith the world has in Indias maritime capabilitiesnbspYour presence in this event is a symbol of our common commitment said PM ModinbspHe further said that in this era of the 21st century Indias maritime sector is moving forward with great speed and energynbspnbspThe year 2025 has been a very important year for Indias maritime sector Today Indias ports are counted among the most efficient in the developing world In many aspects they are performing even better than those in the developed world We have replaced over a centuryold colonial shipping laws with modern futuristic laws suited for the 21st century he addednbspHe noted that the new laws empower State Maritime Boards emphasise Safety and Sustainability and expand Digitalisation in Port ManagementnbspPM Modi said that Indias maritime sector is advancing with great speed and energynbspThe year 2025 has been a landmark year for Bharats maritime sector marked by several significant achievements he saidnbspThe Prime Minister added that Indias first deepwater international transhipment hub Vizhinjam Port became operational this yearnbspAdding to the nations pride the worlds largest container vessel recently docked at the port showcasing its global capability During the fiscal year 20242025 Indias major ports achieved a recordbreaking cargo throughput setting new benchmarks in efficiency he saidnbspnbspPM Modi added that Kandla Port has made history by launching the nations first megawattscale indigenous green hydrogen facilityWe have repealed Colonial Shipping Laws over 100 years old and implemented Modern and Futuristic Laws of the 21st century said the Prime MinisternbspPM Modi pointed out that India is accelerating efforts to reach new heights in shipbuilding adding that the country has now granted large ships the status of infrastructure assetsnbspnbspHe said that significant strides have been made to drive nextgeneration reforms in the maritime sectornbspIndia is making remarkable strides in the shipping industry particularly in the development of human resources Over the past decade the number of Indian seafarers has grown significantly increasing from 125 lakh to over 3 lakh Today India ranks among the top three countries in the world in terms of the total number of seafarers he remarkedPM Modi said that under the Maritime India Vision over 150 initiatives have been launched resulting in significant improvements across the maritime sectornbspThe capacity of Indias major ports has doubled and turnaround times have been significantly reduced he saidnbspPM Modi said that additionally cruise tourism has gained substantial momentum adding that inland waterways have experienced remarkable growth with cargo movement increasing by more than 700 per centnbspThe number of operational waterways has expanded from just three to an impressive 32 Furthermore the net annual surplus of our ports has seen a ninefold increase over the past decade he said https://dailyworld.in/business/right-time-to-invest-in-indias-maritime-sector-amid-global-tensions-pm-modi-645451.html Wed, 29 Oct 2025 19:52:00 +0530 https://dailyworld.in/business/us-lawmakers-unite-to-defend-bilateral-ties-with-india-through-letters-and-resolutions-645158.html Washington Oct 27 Both Republican and Democratic lawmakers have joined hands to support the IndiaUS relationship months after the Trump administration announced a series of policies targeting Indian interests At least six bipartisan letters and resolutions have been drafted over the past 10 days defending the interests of the Indian American community reaffirming support for the IndiaUS partnership and pressing the administration for accountability over its recent actions targeting New DelhiLast week a group of House members expressed concern that an event at Rutgers University on Monday could fuel further prejudice against Hindus at a time when Hindu temples have been targets of violenceThe cosigners of the letter were Democrats Sanford Bishop from Georgia Shri Thanedar from Illinois and Suhas Subramanyam from Virginia and Republican Rich McCormick also from GeorgiaTwo days earlier another bipartisan group of six House Representatives wrote to US President Donald Trump and Commerce Secretary Howard Lutnick expressing concerns over the H1B proclamationWe are concerned that the recent proclamation related to H1B visa petitions will create significant challenges for US employers and overall weaken our competitiveness the letter statedThe group again included Democrat Suhas Subramanyam along with Republican Congressmen Jay Obernolte and Don Bacon among othersOn October 17 four US lawmakers wrote to President Donald Trump urging him to attend the Quad Leaders Summit in India and other meetings in AsiaThe same day a bipartisan resolution was introduced in the House of Representatives to recognise the contributions made to the United States by the Indian American diaspora and condemn recent acts of racism against Indian AmericansThe resolution also termed the IndiaUS relationship as one of the most important democratic partnerships in the worldIt was a sharp departure from just days earlier when 19 House members all Democrats with no Republican support wrote to President Donald Trump on October 8 urging him to reset and repair the IndiaUS critical partnershipLeaders from both Democratic and Republican parties have faced criticism for mostly remaining silent as senior officials of the Trump administration like Trade Advisor Peter Navarro and Commerce Secretary Howard Lutnick repeatedly targeted India over its purchase of Russian oil and trade imbalanceIn August the Trump administration imposed 50 per cent tariffs on New Delhi which included a 25 per cent levy for importing Russian oilThen in September President Donald Trump signed a proclamation on H1B visas imposing a 100000 application fee to restrict the programme Over 70 per cent of the approved H1B applications in 2024 went to Indian nationalsWhile a handful of Democrats opposed the administrations stance publicly Republican lawmakers until recently decided to keep quietIn early October Democratic Representative Ami Bera a leading advocate of the USIndia relationship told IANS that some Republican lawmakers have remained silent out of fear of the presidentI think theyre certainly afraid to take on President Trump directly he saidIn recent weeks ties have stabilised and negotiators have resumed talks to finalise the first phase of a trade agreementLast week President Donald Trump held a special Diwali event at the White House where he termed Prime Minister Narendra Modi a great person and said he loves the people of IndiaBera added that more members should come out to support the relationshipInstead of making this about President Trump lets make it about the USIndia relationship Lets make it about what we think as members of Congress Democrats and Republicans I dont want the IndiaUS relationship to be a Democratic thing or a Republican thing It should be an American thing he told IANS IANS https://dailyworld.in/business/us-lawmakers-unite-to-defend-bilateral-ties-with-india-through-letters-and-resolutions-645158.html Tue, 28 Oct 2025 08:21:00 +0530 https://dailyworld.in/business/s-koreas-gdp-expands-12-pc-in-q3-fastest-growth-in-6-quarters-645163.html Seoul Oct 28 The South Korean economy expanded at the fastest pace in 1 12 years in the third quarter supported by solid exports and rising private consumption central bank data showed on Tuesday Real gross domestic product GDP a key gauge of economic growth rose 12 per cent in the JulySeptember period from the previous quarter preliminary data from the Bank of Korea BOK showed reports Yonhap news agencyIt marked the fastest quarterly expansion since the first quarter of 2024 when the economy grew 12 per cent and was up from a 07 per cent onquarter increase in the second quarterThe thirdquarter figure also beat the BOKs expectation of a 11 per cent gainOn an onyear basis the economy expanded 17 per cent in the third quarter accelerating from a 06 per cent increase in the previous quarterThe countrys GDP unexpectedly contracted 02 per cent in the first quarter as a domestic political crisis sparked by former President Yoon Suk Yeols martial law declaration coupled with uncertainties from US President Donald Trumps sweeping tariff measures weighed on consumer spending and slowed export growthBut the economy has rebounded on the back of the government stimulus measures and strong exports particularly in the brisk semiconductor sectorRising domestic demand and exports drove the economic expansion in the third quarterPrivate consumption rose 13 per cent marking the fastest growth since the third quarter of 2022 while government spending climbed 12 per cent the highest since the fourth quarter of 2022Exports increased 15 per cent from the previous quarter supported by strong global demand for semiconductors and automobilesFacilities investment grew 24 per cent while construction investment slipped 01 per centThe BOK said that domestic demand and net exports contributed 11 percentage points and 01 percentage point respectively to the thirdquarter economic growthThe rise in private consumption was driven by improved consumer sentiment government stimulus measures the launch of new smartphones and electric vehicles and increased medical spending at general hospitals following the return of trainee doctors BOK official Lee Dongton said at a press briefingDespite the impact of US tariffs exports particularly semiconductor shipments have held up relatively well But it remains to be seen how automobiles and other sectors will be affected by the new tariffs going forward he addedThe annual growth rate for 2025 could theoretically reach above the BOKs targeted 09 per cent if fourthquarter growth comes in at minus 01 per cent or higherThe BOK projected Asias fourthlargest economy to expand 09 per cent this year and 16 per cent in 2026 and it is expected to release a revised outlook in November IANS https://dailyworld.in/business/s-koreas-gdp-expands-12-pc-in-q3-fastest-growth-in-6-quarters-645163.html Tue, 28 Oct 2025 09:24:00 +0530 https://dailyworld.in/business/chhath-puja-festival-witnesses-trade-worth-over-rs-50-000-crore-cait-645170.html New Delhi Oct 28 The grand festival of Chhath Puja generated trade worth more than Rs 50000 crore nationwide according to the Confederation of All India Traders CAIT on Tuesday CAITs assessment conducted after the festival revealed that over 10 crore people across India participated in Chhath celebrationsBihar alone witnessed business activity worth about Rs 15000 crore followed by Delhi with Rs 8000 crore and Jharkhand with Rs 5000 croreThe findings are part of CAITs ongoing research on Indias Sanatan Economy which studies the spending patterns during major festivals and wedding seasonsCAIT Secretary General and Member of Parliament Praveen Khandelwal said that Bihar Jharkhand and eastern Uttar Pradesh particularly the Purvanchal region remained the main centres of Chhath celebrations where large congregations gathered along rivers and pondsHowever Delhi and the NCR region also saw a major business boom due to the large Purvanchali populationThe Delhi government constructed around 1500 ghats and spent significantly on infrastructure sanitation and security arrangementsKhandelwal said that other states including West Bengal Madhya Pradesh Maharashtra and Rajasthan also reported strong economic activityIn metros and nontraditional states like Odisha Karnataka and Telangana local markets saw brisk sales due to the presence of migrant communities who celebrated Chhath with great enthusiasmAccording to CAIT the main items sold during the festival included bananas sugarcane coconuts rice grains sweets such as thekua and laddoos and essential puja materials like baskets diyas flowers and clay utensilsThere was also a surge in demand for services related to ghat construction lighting sanitation and boat ridesKhandelwal added that Prime Minister Narendra Modis call to promote Swadeshi indigenous products and the recent GST rate reductions played a key role in driving this festive tradeLocal markets across India organised Swadeshi Chhath campaigns to promote traditional artisans bamboo basket makers and jaggery producers boosting sales of locally made goodsHe further said that the momentum from the Prime Ministers GST Savings Festival which earlier spurred Diwali sales continued during Chhath Puja The twin festivals helped lift overall consumer demand across sectors IANS https://dailyworld.in/business/chhath-puja-festival-witnesses-trade-worth-over-rs-50-000-crore-cait-645170.html Tue, 28 Oct 2025 10:17:00 +0530 https://dailyworld.in/business/openais-big-bet-on-india-free-chatgpt-go-access-for-1-year-starting-nov-4-645173.html New Delhi Oct 28 OpenAI on Tuesday announced that it will offer free access to ChatGPT Go for one year to all users in India who sign up during a special promotional period starting November 4 The offer comes as part of OpenAIs celebration of its first DevDay Exchange event in Bengaluru which will also be held on the same dayChatGPT Go is OpenAIs recently launched subscription plan that gives users access to many of the platforms advanced features including higher message limits more image generation longer memory and the ability to upload more files and imagesAll these features are powered by OpenAIs latest GPT5 modelThe plan was first launched in India in August this year after users requested a more affordable way to use ChatGPTs advanced toolsWithin just a month of its launch the number of paid ChatGPT users in India more than doubledFollowing this strong response OpenAI expanded ChatGPT Go to nearly 90 countries worldwideIndia is currently ChatGPTs secondlargest market and one of the fastestgrowingMillions of users across the country students professionals and developers are already using ChatGPT daily to learn new skills boost creativity and build innovative projectsThe new offer reflects OpenAIs continued Indiafirst approach and supports the governments IndiaAI Mission which aims to expand access to artificial intelligence tools and encourage innovation across the countryOpenAI is also working with civil society groups educational platforms and governmentled initiatives to make AI tools more accessible and inclusiveExisting ChatGPT Go subscribers in India will also be eligible for the free 12month offer with more details to be announced soonNick Turley Vice President and Head of ChatGPT said the company has been inspired by how Indian users are using ChatGPT GoAhead of our first DevDay Exchange event in India were making ChatGPT Go freely available for a year to help more people across India easily access and benefit from advanced AI Were excited to see the amazing things our users will build learn and achieve with these tools he said IANS https://dailyworld.in/business/openais-big-bet-on-india-free-chatgpt-go-access-for-1-year-starting-nov-4-645173.html Tue, 28 Oct 2025 10:48:00 +0530 https://dailyworld.in/business/attacks-on-adani-group-coordinated-effort-to-undermine-indias-growth-lawyer-645176.html New Delhi Oct 28 Supreme Court advocate Ishkaran Singh Bhandari has said that recent reports by foreign media targeting the Adani Group are part of a larger coordinated effort to undermine Indias economic growth and private industrial progress In a conversation with IANS Bhandari said this is not the first time such attempts have been made to malign the Adani GroupFor years the Adani conglomerate has been repeatedly targeted These are the same companies that play a crucial role in Indias economic backbone operating in key sectors such as ports airports and energy he saidForeign interests do not want Indian enterprises to gain strength and global recognition in these strategic areas he told IANSHe recalled that the Adani Group had earlier faced similar allegations from Hindenburg Research which has been shut down which even led to a Supreme Courtmonitored investigationDespite the probe and the formation of a special committee no evidence of wrongdoing was ever found Yet the narrative continues to be pushed for ulterior motives Bhandari notedCalling the campaign a longrunning international conspiracy he cited examples of global financiers like George Soros who according to him have openly linked Adanirelated controversies to political outcomes in IndiaPeople who dont even live in India are trying to interfere with our economic stability he saidBhandari dismissed such reports as fit for the dustbin adding that raising them in Parliament or during election debates serves an antiIndia purposeDefending LICs investment in Adani Ports he said If an American company can profit from investing in Mumbai Airport why cant LIC invest in Adani Ports There is nothing questionable about itLICs investment processes are transparent and multilayered It has always invested in Indian enterprises thats part of its mandate Bhandari mentionedHe argued that questioning LICs investments while ignoring those of foreign investors exposes the hypocrisy behind such criticismIndia is now the worlds fourthlargest economy Those trying to weaken LICs profitability under the guise of transparency are actually seeking to undermine Indias growth story he saidBhandari urged citizens and lawmakers to reject agendadriven foreign narratives that attempt to erode confidence in Indian industry and private investment These baseless reports are designed to shake faith in Indias economic momentum and must be firmly dismissed he stated IANS https://dailyworld.in/business/attacks-on-adani-group-coordinated-effort-to-undermine-indias-growth-lawyer-645176.html Tue, 28 Oct 2025 10:59:00 +0530 https://dailyworld.in/business/samsung-sdis-q3-net-profit-sinks-amid-uncertainties-us-tariff-factors-645195.html Seoul Oct 28 Samsung SDI Co said on Tuesday its thirdquarter net profit sharply dropped from a year earlier amid sluggish sales of electric vehicle EV batteries and US tariffrelated factors Net profit came to 57 billion won 4 million over the JulySeptember period down 975 per cent from a year earlier according to the companys regulatory filingSamsung SDI added it posted an operating loss of 5913 billion won for the third quarter compared with a profit of 1299 billion won a year ago Sales fell 225 per cent to 305 trillion wonSamsung SDI attributed the sluggish earnings to weak sales of EV batteries coupled with Washingtons new tariff policies impacting the energy storage system ESS battery sectorSince last year demand for EV batteries has decreased with consumers demand shifting toward the entry segment said Kim Jongsung executive vice president at Samsung SDIThe demand for ESS has been rising in the United States but profitability has lagged behind expectations due to tariff burdens he addedThe company however noted that despite ongoing uncertainties it achieved significant progress by actively promoting sales of EV and ESS batteries during the JulySeptember periodSamsung SDI said it has secured multiple supply contracts totaling over 110 Gigawatt hours GWh with global automotive groups along with other deals in a large governmentled ESS supply projectFor the fourth quarter Samsung SDI said it expects improved earnings due to a recovery in the European EV and US ESS marketsIn particular the company plans to concentrate its capabilities on the ESS market strengthen its presence in the EV sector and enhance operational efficiency the company saidSamsung SDI currently the only prismatic battery supplier among nonChinese battery makers expects its competitiveness in the US ESS market to further strengthen given the growing preference for prismatic batteries due to their safety and high energy density features it addedKim noted starting next year the demand for ESS will continue to rise on the back of the environmentfriendly development drive and the rise of the artificial intelligence industryDespite weakened earnings performance shares of Samsung SDI traded at 311500 won as of 203 pm up 92 per cent from the previous session The thirdquarter report was released during market hours IANS https://dailyworld.in/business/samsung-sdis-q3-net-profit-sinks-amid-uncertainties-us-tariff-factors-645195.html Tue, 28 Oct 2025 12:47:00 +0530 https://dailyworld.in/business/indias-services-led-growth-becoming-more-balanced-inclusive-niti-aayog-report-645209.html New Delhi Oct 28 The servicesled growth in Indias economy is becoming more regionally balanced as states with lower initial shares in services are catching up with more advanced ones according to a NITI Aayog report released on Tuesday There is clear evidence that structurally lagging States are beginning to catch up with advanced ones This emerging pattern of convergence suggests that Indias servicesled transformation is gradually becoming more broadbased and spatially inclusive the report statesThe services sector has become the cornerstone of Indias economic growth contributing nearly 55 per cent of national GVA Gross Value Added in 202425To guide policy the report introduces a quadrantbased framework that classifies 15 major service subsectors into four categoriesEngines of Growth Emerging Stars Mature Giants and Struggling Segmentsto support differentiated strategies across StatesThe report recommends prioritising digital infrastructure logistics innovation finance and skilling to accelerate diversification and competitiveness at the sectoral levelIt also recommends that at the state level there is a need for developing tailored service strategies based on local strengths improving institutional capacity integrating services with industrial ecosystems and scaling up urban and regional service clustersTogether these findings offer a forwardlooking policy road map for positioning the services sector as a key growth engine across India reinforcing its central role in the Viksit Bharat 2047 visionA companion report titled Indias Services Sector Insights from Employment Trends and StateLevel Dynamics focusses on employment within the services sector drawing on data from the NSS 201112 and PLFS 201718 to 202324It offers a longrun and multidimensional view of Indias services workforce across subsectors gender regions education and occupations The report goes beyond aggregate trends to reveal the sectors dual character modern highproductivity segments that are globally competitive yet limited in employment intensity and traditional segments that absorb large numbers of workers but remain predominantly informal and lowpayingBy linking historical and contemporary data it situates these patterns within a broader framework of structural transformation offering an integrated understanding of the opportunities and divides that shape Indias servicesled employment transitionFindings show that while services remain the mainstay of Indias employment growth and postpandemic recovery challenges persist Employment generation is uneven across subsectors informality remains widespread and job quality continues to lag behind output growth Gender gaps ruralurban divides and regional disparities underline the need for an employment strategy that integrates formalisation inclusion and productivity enhancement at its coreTo bridge these gaps the report outlines a fourpart policy road map focussing on formalisation and social protection for gig selfemployed and MSME workers targeted skilling and digital access to expand opportunities for women and rural youth investment in emerging and green economy skills and balanced regional development through service hubs in Tier2 and Tier3 citiesBy positioning the services sector as a purposeful driver of productive highquality and inclusive jobs the report underscores its centrality to Indias employment transition and its pivotal role in realising the vision of Viksit Bharat 2047The reports emphasise the need to deepen digital infrastructure expand skilled human capital foster innovation ecosystems and integrate services across value chains positioning India as a trusted global leader in digital professional and knowledgebased services IANS https://dailyworld.in/business/indias-services-led-growth-becoming-more-balanced-inclusive-niti-aayog-report-645209.html Tue, 28 Oct 2025 13:35:00 +0530 https://dailyworld.in/business/surging-elderly-population-to-boost-silver-economy-in-india-govt-645210.html New Delhi Oct 28 With an increasing population of senior citizens in India the silver economy is set for a rapid expansion and growth said the government on Tuesday Silver economy is an economy driven by goods and services designed to meet the needs of the elderly typically those over 50 years of ageAs per the Ministry of Health and Family Welfareled Population Projection July 2020 report the elderly population 60 years and above in the country is projected to more than double from 100 million in 2011 to 230 million by 2036The 2021 Longitudinal Ageing Study of India LASI reveals that 12 per cent of Indias population comprises elderly individuals a proportion projected to rise to 319 million by 2050 growing at an annual rate of approximately 3 per centThis rapid demographic transition offers tremendous growth potential for health and wellnessfocused enterprisesIt includes support that prioritises family and communityled initiatives while ensuring financial security digital literacy training longterm care insurance digital healthcare access assistive technologies and engagement platforms are crucial for effectively integrating older adults into the silver economyIndias silver economy is valued at approximately Rs 73000 crore in 2024 with projections indicating substantial multifold growth in the years ahead Research identifies senior citizens along with professionals in the 45 to 64 age bracket as the wealthiest age cohort globally the statement saidThis burgeoning silver economy creates substantial opportunities for businesses and organisations dedicated to addressing the needs and preferences of the elderly demographic The market is poised for rapid expansion both domestically and internationally presenting considerable scope for innovation and development within this sector it addedMeanwhile in a bid to tackle the challenges encountered by the elderly population the government has undertaken numerous initiatives policies and action plansThe Ministry of Social Justice and Empowerment MoSJE serves as the nodal ministry entrusted with the responsibility of ensuring the welfare of senior citizens in IndiaKey initiatives promoting the care wellbeing and dignity of senior citizens include the Atal Pension Yojana APY the Atal Vayo Abhyuday Yojana AVYAY the Integrated Programme for Senior Citizens IPSrC and the Rashtriya Vayoshri YojanaFurther the government has also constituted a dedicated helpline tollfree number 14567 a Senior Care Ageing Growth Engine SAGE Portal Senior Able Citizens for ReEmployment in Dignity SACRED Portal Geriatric Caregivers Training and the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana PMJAY to boost the health and wellbeing of the elderly in the country IANS https://dailyworld.in/business/surging-elderly-population-to-boost-silver-economy-in-india-govt-645210.html Tue, 28 Oct 2025 13:36:00 +0530 https://dailyworld.in/business/toll-revenues-in-india-up-16-pc-in-jan-sep-due-to-higher-vehicle-movement-645211.html New Delhi Oct 28 Indias highway toll revenues grew by nearly 16 per cent yearonyear to Rs 49193 crore in JanuarySeptember 2025 due to higher vehicle throughput and periodic toll rate revisions a report said on Tuesday In the same period tollpaying traffic volumes rose by 12 per cent to 26864 lakh the report from ICRA Analytics saidNationwide electronic toll collection touched a record high of Rs 57940 crore in 2024 marking an increase of nearly 11 per cent onyearTollpaying transactions rose from 30383 lakh in 2023 to 32515 lakh in 2024 marking an annual growth of about 7 per cent in overall traffic the report saidWhile traffic volumes have grown strongly in the past two years ICRA reported that revenues grew faster than volumes partly due to a higher share of heavy vehicles and revised user feesThe western and southern corridors consistently contributed over half of national toll revenues From January to September 2025 West India continues to lead with nearly 30 per cent of national toll revenues followed by South 25 per cent and North 23 per cent the report saidEast and Central India together contribute about onequarter of total collections reflecting steady regional balance the release notedEast Central and West India are freightcentric regions with commercial vehicles accounting for over 50 per cent of toll traffic ICRA Analytics saidThe patter reflects strong industrial and logistics activity along key miningtoport corridors through Odisha and Andhra Pradesh Chhattisgarhs mineral belt and key regions in North East said Madhubani Sengupta Head of Knowledge Services ICRA AnalyticsSengupta added that the overall pattern underlines Indias multimodal highway usage where central western and eastern corridors propel freight movement while the north and south facilitate commuter and intercity passenger mobilityCorridors like NH44 NH47 and NH52 in Central India carries both longhaul freight and growing intercity passenger traffic reflecting the zones transition from resource corridor to mixeduse highway networkIn contrast North and South India continue to be passengerled with cars and jeeps forming 6570 per cent of toll transactions driven by dense urban clusters commuter belts and higher personal vehicle penetration IANS https://dailyworld.in/business/toll-revenues-in-india-up-16-pc-in-jan-sep-due-to-higher-vehicle-movement-645211.html Tue, 28 Oct 2025 13:37:00 +0530 https://dailyworld.in/business/commercial-office-rental-grows-6-pc-yoy-to-rs-90-per-sq-ft-in-9m-2025-645219.html New Delhi Oct 28 The commercial office real estate sector is growing steadily across the top 7 cities with a 6 per cent yearly rise in monthly office rentals from Rs 85 per square feet Sq ft in first nine months 9M of 2024 to Rs 90 per sq ft in 9M 2025 a report said on Tuesday Predictably the Information Technology and Information Technology Enabled Services ITITeS sector comprised the largest share at 27 per cent followed by coworking at 23 per cent and BFSI at 18 per centCompared to last years corresponding period the ITITeS sectors leasing share declined marginally by 1 per cent On the other hand coworking saw an overall share increase of 2 per cent from a 21 per cent share in 9M 2024 to a 23 per cent share in 9M 2025 Anarock Research said in its reportAmong the cities Pune witnessed the highest growth of 97 per cent in net office absorption from 314 Mn sq ft in 9M 2024 to approx 62 Mn sq ft in 9M 2025 Kolkata was the only city to record a decline in net office leasing of 19 per centBengaluru witnessed the highest net office leasing of approximately 995 million sq ft followed closely by DelhiNCR with net office leasing of approximately 82 million sq ft and MMR with approximately 66 Mn sq ftDemand for flexible workspaces has been evolving postpandemic with companies adapting to hybrid work models cost efficiency and flexibility Startups and corporates and several other enterprises with a hybrid work model prefer coworking spaces over regular office spacesIn contrast despite increased new office completions in the top 7 cities average vacancy levels saw a marginal 3 per cent yearly decline from 1670 per cent in 9M 2024 to 1620 per cent in 9M 2025Chennai is the only city to record a singledigit office vacancy of 890 per cent the least among all top cities the report statedGlobal headwinds including tariffs geopolitical tensions and layoffs in ITITeS sectors seem to have had no negative impact on office space demand in the top citiesOffice absorption continued to soar by 34 per cent from 3131 million square feet in 9M 2024 to 42 Mn square feet in 9M 2025For instance out of the total gross office leasing of 5828 Mn sq ft in 9M 2025 over 40 per cent or approx 2334 Mn sq ft was leased by the GCCs alone Bengaluru saw the highest gross leasing of 83 Mn sq ft by GCCs followed by Pune with 373 Mn sq ft and Chennai with 357 Mn sq ft said Anuj Puri Chairman ANAROCK GroupSeveral companies are now looking for highquality Grade A office spaces with better infrastructure and amenities and greencertified sustainability features Puri added IANS https://dailyworld.in/business/commercial-office-rental-grows-6-pc-yoy-to-rs-90-per-sq-ft-in-9m-2025-645219.html Tue, 28 Oct 2025 14:21:00 +0530 https://dailyworld.in/business/global-pe-investments-reach-15-trillion-in-jan-sep-india-highly-attractive-destination-645227.html New Delhi Oct 28 Global private equity PE investment hit 15 trillion in the first three quarters of 2025 despite a slowdown in deal activity a report said on Tuesday Regarding Indias PE landscape the report from global consultancy KPMG said that the country remains a highly attractive destination for global investors underpinned by strong macroeconomic fundamentals favourable demographics and rising domestic consumptionThe global PE deal volume has positioned itself for a potential fouryear high if momentum continues into Q4 KPMG notedThe buoyant investment is notable given the significant decline in deal volume from 15083 deals in the first three quarters of 2024 to 13574 in the first three quarters of 2025 the report notedIn Q3 2025 total deal value reached 5371 billion across 4062 transactions up from 512 billion in Q3 2024 despite a much lower volume of deals the report saidThe number of deals decreased from 5032 to 4062 in Q3 2025 from the previous yearAs of Q3 2025 PE investment in India stood at 149 billion across 217 deals a decline from 263 billion across 289 deals in 2024 due to geopolitical and trade uncertainties particularly around the US tariff policiesKPMG however said that investor sentiment remains optimistic with many global PE firms continuing to deepen their presence in India often acting as business builders rather than passive investorsThe maturing ecosystem is reflected in the growing size of Indiafocused funds and the increasing breadth of sectors attracting capital from technology and healthcare to financial services and specialised manufacturingThe strength of Indias capital markets has also made it a favourable environment for IPO exits further enhancing its appeal the consultancy firm noted IANS https://dailyworld.in/business/global-pe-investments-reach-15-trillion-in-jan-sep-india-highly-attractive-destination-645227.html Tue, 28 Oct 2025 14:39:00 +0530 https://dailyworld.in/business/indian-pharma-and-healthcare-sector-witnessed-35-billion-deals-in-q3-2025-report-645240.html New Delhi Oct 28 The pharma and healthcare sector in India witnessed robust deal momentum valued at 35 billion in Q3 2025 according to a report on Tuesday Grant Thornton Bharats Pharma and Healthcare Dealtracker report showed that the sector recorded a total of 72 transactions up 28 per cent in volumes and 166 per cent in value quarter on quarterThis included three IPOs worth 428 million and one QIP worth 88 million the report saidExcluding public market activity private deals accounted for 3 billion across 68 transactions marking a sharp rebound in investor appetiteThe report noted that the surge was driven by seven high value deals worth 26 billion reflecting renewed investor confidence in scale and consolidation plays across pharma biotech and hospital segmentsQ3 marked a resurgence in deal activity driven by a healthy mix of scale capability and innovationled investments said Bhanu Prakash Kalmath S J Partner and Healthcare Industry Leader Grant Thornton BharatThe momentum in pharma and biotech supported by strategic consolidations signals growing confidence in Indias life sciences potential he addedFurther the report showed that mergers and acquisitions MampA activity surged in Q3 recording 36 deals worth 25 billion This marked a 57 per cent rise in volumes and a remarkable 122x jump in value over the previous quarterPrivate Equity in the healthcare and pharmaceutical sector witnessed 32 deals worth 425 million in Q3 2025 It reflected a 3 per cent decline in volumes and a 27 per cent drop in values compared with the previous quarterHospitals saw 19 deals worth 264 million Multispecialty consolidation gained pace in western India and NCR while singlespecialty formats like dialysis IVF oncology and women and childcare drove volumes the report saidThe continued investor interest in hospitals singlespecialty formats and wellness platforms highlights the sectors evolution toward clinical excellence wider reach specialisation and technologyled consumercentric care Despite global uncertainties the sustained flow of capital reflects the longterm resilience and structural growth of Indias healthcare ecosystem Bhanu Prakash said IANS https://dailyworld.in/business/indian-pharma-and-healthcare-sector-witnessed-35-billion-deals-in-q3-2025-report-645240.html Tue, 28 Oct 2025 15:14:00 +0530 https://dailyworld.in/business/indian-small-finance-banks-advances-poised-to-cross-rs-2-lakh-crore-this-fiscal-645244.html New Delhi Oct 28 Advances of small finance banks SFBs are poised to cross Rs 2 lakh crore this fiscal marking a growth of 1617 per cent yearonyear YoY and surpassing last fiscals 13 per cent growth rate a report said on Tuesday The uptick will be driven by continued expansion in the nonmicrofinance segments coupled with the calibrated recovery of the microfinance loan book from the degrowth seen last fiscalAmid the healthy credit growth building a granular and sustainable liability franchise remains crucial for SFBs Crisil Ratings said in its reportAccording to the report the share of nonmicrofinance advances in SFB loans had already risen to 67 per cent as of March 2025 from 50 per cent as of March 2022Within this mortgage loans housing loans and loans against property had the largest share having grown at an estimated 3year compound annual growth rate CAGR of 38 per centThis was followed by vehicle loans and micro small and medium enterprise MSME loans which grew at 3year compounded annual growth rates CAGRs of 32 per cent and 31 per cent respectivelySFBs have also increased the share of gold loans agricultural credit loans against fixed deposits and wholesale funding in their loan portfolios over the past three fiscalsThis fiscal credit growth in the nonmicrofinance segments is expected to be 2325 per cent While lower interest rates will support demand for affordable housing policy spurs for MSMEs and tailwinds from the recent reduction in the goods and services tax on vehicle loans will be helpful too said Aparna Kirubakaran Director Crisil RatingsMicrofinance on the other hand will grow at a relatively slower 45 per cent but that will still be a rebound from the 14 per cent decline last fiscal she addedMeanwhile according to the report segmental diversification has been a longrunning growth theme for SFBs most of which were microfinance institutions MFIs at the time of conversionThe approach will continue this fiscal as well with recent headwinds in microfinance persuading a sharper focus on diversification to other segments to minimise assetquality concernsDiversification is also crucial because the Reserve Bank of India RBI guidelines mandate thresholds of 3 per cent and 1 per cent for gross and net nonperforming assets respectively for SFBs to acquire a universal banking licenseGiven the susceptibility of microfinance loans to sociopolitical pressures diversification particularly into secured asset classes would support asset quality In addition these guidelines qualitatively accord preference to SFBs with a diversified loan portfolio the report said IANS https://dailyworld.in/business/indian-small-finance-banks-advances-poised-to-cross-rs-2-lakh-crore-this-fiscal-645244.html Tue, 28 Oct 2025 15:18:00 +0530 https://dailyworld.in/business/bus-operated-by-air-indias-ground-handler-catches-fire-at-delhi-airport-no-injuries-reported-645247.html New Delhi Oct 28 A bus operated by AI SATS a thirdparty groundhandling service provider for Air India caught fire near bay number 32 at Delhi Airports Terminal 3 T3 on Tuesday morning According to multiple reports the incident took place just a few metres away from an aircraftFortunately no passengers were onboard the bus at the time of the fire The blaze was quickly brought under control by the airport fire team and no injuries or damage to nearby aircraft were reportedIn a stray incident a bus operated by one of the Ground handlers caught fire around noon today Our expert ARFF team on ground immediately swung into action and extinguished the fire within a couple of minutes Delhi Airport said while responding to a passengers query on social media platform XThe bus was stationary and fully vacant at the time of the incident There were no injuriescasualties All operations continue to be normal Safety of our passengers and staff remains paramount to us they addedHowever a query sent to AI SATS went answered while writing the articleThe incident comes amid a series of recent operational disruptions faced by Air India Earlier this month a USbound Air India flight from Mumbai to Newark had to return shortly after takeoff due to a suspected technical snagOn October 22 Air India said that the crew of flight AI191 operating from Mumbai to Newark made a precautionary airreturn to Mumbai due to a suspected technical issueThe flight landed safely back in Mumbai and the aircraft is undergoing necessary inspections according to Air India spokespersonIn another case a Delhibound flight from Milan was stranded following a technical issue leaving over 250 passengers stuck overseas before the airline arranged a relief flightHowever the airline claimed it had extended all immediate assistance to affected passengers including hotel accommodation and mealsFull refunds or complimentary rescheduling were also offered as per passenger preference the airline stated IANS https://dailyworld.in/business/bus-operated-by-air-indias-ground-handler-catches-fire-at-delhi-airport-no-injuries-reported-645247.html Tue, 28 Oct 2025 15:38:00 +0530 https://dailyworld.in/business/tata-motors-commercial-vehicles-marks-its-biggest-unveil-in-gcc-introduces-euro-6-trucks-645256.html New Delhi Oct 28 Tata Motors Commercial Vehicles on Tuesday launched its biggestever product showcase in the Gulf Cooperation Council GCC region introducing a full range of Euro 6compliant trucks and buses designed specifically for the Middle East and North Africa MENA The event held in Dubai marks a major milestone for Tata Motors as it strengthens its presence in the regionThe new lineup includes both passenger and cargo vehicles built to meet the growing transport and infrastructure needs of the MENA marketThe company aims to support the regions development with cleaner more efficient and advanced mobility solutionsAsif Shamim Head of International Business at Tata Motors Commercial Vehicles said the company shares a longstanding relationship with the regionFor over six decades we have been partners in progress with the MENA region As the region continues to grow and diversify there is an increasing need for smarter and more efficient mobility solutions he saidTata Motors unveiled several new buses under its passenger range The LPO 1622 bus available in both 11meter and 12meter versions comes with multiple seating layouts suitable for school and staff transportIt is powered by a Cummins engine and equipped with features like ABS Electronic Stability Control Cruise Control and advanced air conditioningThe Starbus Prime LP 716 a 28seater model with a 33litre engine and the Ultra LPO 916 a 33seater bus were also introduced to offer safe and comfortable transport options for institutions and companiesFor cargo transport Tata Motors presented its new Ultra range of trucks which cover a range of 719 tonnes These vehicles are designed for city logistics and lastmile deliveryFor heavyduty and longdistance applications the company showcased the Prima seriesThe Prima 3430T with a 67L Cummins engine producing 300 HP is built for longhaul operationsThe Prima 3330K tipper is designed for construction and mining needs The Prima 4440S AMT featuring an automatic transmission offers a fatiguefree driving experience for long trips while the Prima 4040T is suited for logistics and equipment transportThe launch comes at a time when Tata Motors is undergoing a corporate restructuring Its commercial vehicle arm TML Commercial Vehicles Limited will soon be renamed Tata Motors Limited after receiving regulatory approvalsThe newly formed companys shares will be listed on Indian stock exchanges once the process is complete IANS https://dailyworld.in/business/tata-motors-commercial-vehicles-marks-its-biggest-unveil-in-gcc-introduces-euro-6-trucks-645256.html Tue, 28 Oct 2025 16:03:00 +0530 https://dailyworld.in/business/cabinet-nod-to-nutrient-based-subsidy-rates-for-rabi-2025-26-on-phosphatic-potassic-fertilisers-645263.html New Delhi Oct 28 The Union Cabinet Chaired by Prime Minister Narendra Modi on Tuesday approved the nutrientbased subsidy rates for Rabi 202526 on phosphatic and potassic fertilisers It approved the proposal of the Department of Fertilisers for fixing the nutrientbased subsidy NBS rates for Rabi Season 202526 from October 1 2025 to March 31 2026 on phosphatic and potassic PampK fertilisersAccording to the Ministry of Chemicals and Fertilisers the tentative budgetary requirement for the Rabi season 202526 would be approximately Rs 3795229 crore approximately Rs 736 crore more than the budgetary requirement for the Kharif season 2025The subsidy including Di Ammonium Phosphate DAP and NPKS Nitrogen Phosphorus Potash Sulphur grades will be provided based on approved rates for Rabi 202526 to ensure smooth availability of these fertilisers to the farmers at affordable pricesIt will help in the availability of fertilisers to farmers at subsidised affordable and reasonable pricesIt will also help rationalisation of subsidy on PampK fertilisers in view of recent trends in the international prices of fertilisers and inputsAccording to the ministry the government is making available 28 grades of PampK fertilisers including DAP to farmers at subsidised prices through fertiliser manufacturersimportersThe subsidy is governed by the NBS Scheme In accordance with its farmerfriendly approach the government is committed to ensuring the availability of PampK fertilisers to the farmers at affordable pricesAccording to the ministry the Centre has decided to approve the NBS rates for Rabi 202526 effective from March 31 2026 on Phosphatic and Potassic PampK fertilisers including DAP and NPKS gradesThe official statement further stated that the subsidy would be provided to the fertiliser companies as per approved and notified rates so that fertilisers are made available to farmers at affordable pricesWith the increase in minimum support prices MSP for various crops announced for the rabi marketing season of 202627 farmers are expected to receive Rs 84263 crore as the governments procurement is estimated at 297 lakh metric tonnes according to an official statement issued earlier this monthMSP payouts to farmers for the governments purchase of foodgrains have more than tripled from Rs 106 lakh crore in 201415 to Rs 333 lakh crore in July 2024 June 2025 while procurement has increased from 76140 lakh metric tonnes to 1175 lakh metric tonnes over the same period benefiting 184 crore farmers IANS https://dailyworld.in/business/cabinet-nod-to-nutrient-based-subsidy-rates-for-rabi-2025-26-on-phosphatic-potassic-fertilisers-645263.html Tue, 28 Oct 2025 16:27:00 +0530 https://dailyworld.in/business/indias-it-sector-expected-to-reach-400-billion-by-2030-amidst-ai-related-disruptions-645264.html New Delhi Oct 28 Indias information technology IT sector is projected to reach 400 billion by 2030 led by firms delivering domainspecific automation that outperforms traditional service models on speed quality and cost a report said on Tuesday The countrys strong talent pool global client trust and cost efficiency will enable it to leverage the increased global demand for AIdriven solutions a report by venture firm Bessemer Venture Partners indicatedAI is automating tasks previously performed by humans and disrupting the billablehour model that supports traditional Indian IT services which makes deep strategic pivots crucial to stay competitive the report notedThe venture firm mentioned that agile AInative challengers are adapting more quickly to such changes than incumbent companiesThree types of fastmoving AIfirst challengers that will disrupt existing models are AIenabled services services built for AI and pure softwareled platforms the report saidThe venture firm forecast that Indias IT services industry will grow with margins intact despite challenges from AIrelated disruptionsIt noted that three years after the launch of ChatGPT Indias IT revenues continue to climb and margins remain surprisingly resilient because uptake of generalpurpose large language models is concentrated in only two sectors technology and media or advertisingIncumbent IT firms continue to play a crucial role in solving complex business problems that are nuanced rather than providing onesizefitsall SaaS deploymentsThe strong balance sheets of these companies further strengthen client confidence Bessemer Venture Partners saidFortune 500 companies still trust that IT services vendors can manage multiyear projects absorb macro shocks and deliver consistent execution the report saidThe market capitalisation of Indias top ten IT firms has more than doubled from 166 billion to 354 billion in the past decade driven by annual revenue growth exceeding 7 per cent IANS https://dailyworld.in/business/indias-it-sector-expected-to-reach-400-billion-by-2030-amidst-ai-related-disruptions-645264.html Tue, 28 Oct 2025 16:28:00 +0530 https://dailyworld.in/business/china-on-mind-us-and-japan-sign-rare-earths-deal-during-trumps-tokyo-visit-645267.html Tokyo Oct 28 IANS Emphasising that the bilateral relationship between Japan and the United States has now become the greatest alliance in the world Japans new Prime Minister Sanae Takaichi on Tuesday pledged to build with visiting US President Donald Trump a new golden era of partnership between the two countriesnbspTrump and Takaichi met in Tokyo on Monday for the JapanUS Summit meeting during which they finalised the signing of various agreements to bolster cooperation in the fields of defence and economynbspIt also included a United StatesJapan Framework For Securing the Supply of Critical Minerals and Rare Earths through Mining and Processing which intends to support the supply of raw and processed critical minerals and rare earthsnbspcrucial to the domestic industries of the United States and JapanThe Participants are intensifying their cooperative efforts to accelerate the secure supply of critical minerals and rare earths necessary to support domestic industries including advanced technologies and their respective industrial bases by leveraging policy tools such as the United States and Japans financial support mechanisms trade measures where appropriate and critical minerals stockpiling systems read a statement issued by the White HouseIt mentioned that both countries will intensify efforts to promote dialogue amongst upstream and downstream companies to facilitate the diversification of supply chainsnbspI held a summit meeting and a signing ceremony with President Trump of the United States I expressed my determination to restore robust Japanese diplomacy with the JapanUS Alliance as its cornerstone President Trump and I agreed to strongly advance a Free and Open IndoPacific FOIPC the Japanese PMs office quoted Takaichi as saying after the meetingnbspTakaichi also praised Trump especially his role in promoting peace in the Middle East and resolving a conflict between Thailand and Cambodia as unprecedented historic achievementsI have always had a great love of Japan and a great respect of Japan anything I can do to help Japan we will be there We are an ally at the strongest level said TrumpnbspThe US President arrived in Tokyo Monday afternoon on a twoday official working visit to Japan the second leg of his threenation Asia tripnbspTrump who met Emperor Naruhito after his arrival on Monday met with the families of abduction victims and others along with Japans Prime Minister TakaichinbspJapans landmark buildings including Tokyo Skytree Tokyo Tower and Tokyo Metropolitan Government Building welcomed Trump to Japan by special lighting inspired by the starspangled bannerThis is Trumps fourth visit to Japan as President and first since June 2019nbspPresident Trumps visit to Japan is an extremely meaningful opportunity to further strengthen the JapanUS alliance and the Government of Japan wholeheartedly welcomes President Trumps visit to Japan read an earlier statement issued by Japans Foreign MinistrynbspOn October 25 Takaichi who was visiting Kuala Lumpur to attend the ASEANrelated Summit Meetings held a telephone talk with Trump as the two leaders confirmed that they will cooperate to elevate the JapanUS alliance to even greater heightsTakaichi stated that strengthening the JapanUS alliance is a top priority for Japans foreign and security policiesnbspPrime Minister Takaichi also stated that Japan is an essential partner of the United States in the IndoPacific region and that she hopes to work together to realise a Free and Open IndoPacific FOIP She also expressed her respect for President Trumps leadership in realizing the recent agreement in the Middle East the Japanese Ministry of Foreign Affairs stated after the callnbspTrump noted that Takaichi was a great friend of former Japanese Prime Minister Shinzo Abe who was fatally shot during a campaign speech in 2022Abe was a great friend of mine as you know Trump said He liked her a lot She liked him a lot So thats a good sign I look forward to meeting hernbspAccording to Japans leading Kyodo News Agency Takaichis priorities to boost Japans defence capabilities and step up cooperation with the United States in strategic areas are likely to resonate with TrumpCooperation in shipbuilding is among several deals to be signed by Japan and the United States before Trump heads to South Korea on Wednesday morning according to government sources The Trump administration has pledged to restore shipbuilding capacity in the United States amid Chinas growing dominance of the industry Joint efforts to improve supply chains for critical minerals essential for hightech industries and to expand imports of US farm products to Japan are also part of a trade deal the two allies reached this summer after months of negotiations sparked by Trumps high tariffs Kyodo News reportednbspIt added that to demonstrate the strength of the decadesold alliance Takaichi is set to join Trump aboard Marine One for a visit to the US naval base in the port city near Tokyo and tour the nuclearpowered aircraft carrier George Washington https://dailyworld.in/business/china-on-mind-us-and-japan-sign-rare-earths-deal-during-trumps-tokyo-visit-645267.html Tue, 28 Oct 2025 16:32:00 +0530 https://dailyworld.in/business/indias-industrial-production-clocks-4-per-cent-growth-in-september-645291.html New Delhi Oct 28 Indias industrial production recorded a 4 per cent growth in September this year compared to the same month last year driven by a strong performance in the manufacturing sector according to data released by the Ministry of Statistics on Monday The industrial growth rate based on the Index of Industrial Production IIP had accelerated to 4 per cent in August from a fourmonth high of 35 per cent in July which in turn had surged from 15 per cent in June The 4 per cent growth rate has been maintained in September as wellThe data showed that the manufacturing sector which provides quality jobs for the young graduates passing out of the countrys universities and engineering institutes registered a robust 48 per cent growth in September this year over the same month of the previous year This is higher than the corresponding figure of 38 per cent registered in AugustWithin the manufacturing sector 13 out of 23 industry groups recorded a positive growth in September this year compared to the same month of the previous year The top three positive contributors for the month are Manufacture of basic metals 123 per cent Manufacture of electrical equipment 287 per cent and Manufacture of motor vehicles trailers and semitrailers 146 per centElectricity generation recorded a 31 per cent growth in September while the mining sector proved to be a laggard with a negative growth of are 04 per cent during the monthThe figures on usebased classification show that the production of capital goods which comprise machines used in factories went up by 47 per cent in September over the same month of the previous year This segment reflects the real investment taking place in the economy which has a multiplier effect on the creation of jobs and incomes going aheadThe production of consumer durables such as refrigerators air conditioners and TV sets jumped by a robust 102 per cent during the month reflecting the rise in demand for these products due to rising incomes enabling buyers to improve their living standardsThe infrastructure and construction sector clocked a doubledigit surge for the second month in a row at 102 per cent in September compared with the same month of the previous year on the back of bigticket government projects being implemented in the highways railways and ports sectors IANS https://dailyworld.in/business/indias-industrial-production-clocks-4-per-cent-growth-in-september-645291.html Tue, 28 Oct 2025 17:31:00 +0530 https://dailyworld.in/business/noel-tata-others-block-mehli-mistrys-re-appointment-at-tata-trusts-report-645294.html New Delhi Oct 28 A rift in the Tata Trusts has intensified as its office holders Venu Srinivasan Noel Tata and Vijay Singh have rejected businessman Mehli Mistrys renewal for life trusteeship a report said on Tuesday Mistry is likely to explore legal options to get renewal for life trusteeship NDTV Profit reported citing sourcesNoel Tata chairs the philanthropic trust while Vijay Singh and Venu Srinivasan act as vice chairmenThe report said that the ouster of Mistry could be challenged based on the October 24 resolution passed by the Tata Trusts which gives a life term to the present trusteesThe Trustees recognise that they are all equally responsible charged with public duty and specifically tasked by Mr Ratan N Tata To this end they resolve that on the expiry of the tenure of any Trustee that Trustee will be reappointed by the concerned Trust without any limit being attached to the period of tenure of such reappointment and in accordance with law the resolution saidTata Trusts has been embroiled in an internal conflict over the nomination of a director to the Tata Sons BoardThe rift at Tata Trusts would impact strategic decisions at Tata Sons On a daytoday basis Tata Sons is unlikely to be disrupted but strategic decisions will be affected the report quoted Shriram Subramanian managing director and founder of InGovern as sayingTata Trusts the charitable arm that controls about 66 per cent of Tata Sons has been recently mired in internal disagreementsThe dispute reportedly involves Board appointments and governance matters creating two factions One led by Noel Tata and another by four trustees close to Mehli Mistry who is associated with the Shapoorji Pallonji familyThis internal rift became visible after the controversy surrounding the reappointment of Vijay Singh to the Tata Sons Board which was rejectedMeanwhile shares of Tata Group companies have declined by over Rs 7 lakh crore in market value or 21 per cent over the past year after the passing of the groups patriarch IANS https://dailyworld.in/business/noel-tata-others-block-mehli-mistrys-re-appointment-at-tata-trusts-report-645294.html Tue, 28 Oct 2025 17:34:00 +0530 https://dailyworld.in/business/nsic-pays-rs-4389-crore-dividend-to-government-of-india-for-fy-2024-25-645301.html New Delhi Oct 28 The National Small Industries Corporation Limited NSIC a Mini Ratna enterprise under the Ministry of MSME on Tuesday said that it has paid a dividend of Rs 4389 crore to the Government of India for the financial year 202425 Jitan Ram Manjhi Union Minister of MSME and Sushri Shobha Karandlaje Minister of State Ministry of MSME received the dividend check from Subhransu Sekhar Acharya CMD NSICThe Union Minister applauded NSICs efforts in empowering MSMEs through integrated support services and both leaders expressed confidence in NSICs continued role in fostering enterprise creation and skill developmentMeanwhile Dr Acharya highlighted NSICs financial milestones including a revenue of Rs 3431 crore and Profit after Tax PAT of Rs 14630 crore up by 1560 per cent from the previous yearEarlier the Government PSU the NSIC signed Memorandums of Understanding MOU with several private sector banks to enhance the availability of credit for MSMEs under its MSME Credit facilitation programmeAccording to an official statement the MOUs also seek to improve the credits affordability and accessibility for MSMEsMOUs were signed with IndusInd Bank Karnataka Bank Axis Bank Dhanlaxmi Bank and AU Small Finance BankUnion MSME Minister Jitan Ram Manjhi and MSME Secretary SCL Das were also present on the occasion The MoUs were exchanged between NSICs Director Finance Gaurav Gulati and senior officials from various banks the release saidThe partnership seeks to assist MSMEs in connecting to the official financial system and providing them with handholding support According to the statement the MOU is intended to be a force multiplier in the banks endeavours to reach the last mile and focusses on helping them reach more worthy micro and small businessesPrime Minister Narendra Modis recent calls for the Vocal for Local initiative are in line with this development In order to support domestic manufacturing generate employment and strengthen the local economy it pushes businesses and citizens to prioritise locally produced goods over imports IANS https://dailyworld.in/business/nsic-pays-rs-4389-crore-dividend-to-government-of-india-for-fy-2024-25-645301.html Tue, 28 Oct 2025 18:12:00 +0530 https://dailyworld.in/business/indias-gender-pay-gap-narrows-sharply-now-among-lowest-worldwide-report-645124.html New Delhi Oct 27 Indias gender pay gap has narrowed sharply now ranking among the lowest worldwide a report said on Monday According to a report from global payroll and compliance platform Deel the median salaries for men and women in India are nearly equal ranging from 13000 to 23000 reflecting growing pay equity and the adoption of datadriven compensation modelsDeel analysed internal platform data from over 1 million contracts and more than 35000 customers in 150 countries to get insights into global pay trends the report saidThe report also highlighted a 40 per cent yearonyear YoY drop in median compensation for engineering and data professionals in India decreasing from 36000 in 2024 to 22000 in 2025India continues to show a hybrid workforce model with 60 per cent70 per cent fulltime employees and 30 per cent to 40 per cent contract workers underscoring steady reliance on flexible work arrangements the report notedIts encouraging to see India emerge as one of the few countries where the gender pay gap has narrowed significantly This progress reflects a broader shift toward fairness transparency and datadriven compensation models that reward merit over bias says Mark Samlal General Manager APAC at DeelThe US UK and Canada continue to offer the highest median compensation globally across job categories Specialised roles in AI cybersecurity and digital marketing command 20 per cent to 25 per cent pay premiums due to skill scarcity and lack of established pay benchmarksMedian equity grants for tech talent have grown consistently from 2021 to 2025 in emerging markets like Brazil and India marking a global shift toward equityheavy compensation models The US leads in equity package size followed by Canada and France the report notedGlobally gender pay gaps remain starker in tech and product roles compared to sales positions with the largest gaps observed in Canada France and the United States according to the report IANS https://dailyworld.in/business/indias-gender-pay-gap-narrows-sharply-now-among-lowest-worldwide-report-645124.html Mon, 27 Oct 2025 12:25:00 +0530 https://dailyworld.in/business/mcx-introduces-options-on-bullion-index-shares-jump-25-pc-645127.html Mumbai Oct 27 The Multi Commodity Exchange of India MCX on Monday launched options contracts on its MCX iCOMDEX Bullion Index MCX BULLDEX giving investors a new way to trade and manage risk in the fastrising gold and silver markets The options contracts became effective today October 27 The MCX BULLDEX index is made up of the highly traded and liquid gold and silver futures on the exchangeBy combining both metals the index offers market participants including investors and institutions a balanced exposure to the bullion segmentMCX said the new options contracts will give traders a powerful risk management tool that combines the advantages of diversified underlying assets with the flexibility of options tradingThe exchange added that the launch aligns with its goal of deepening Indias commodity markets through innovation transparency and investorfriendly productsSpeaking about the development Praveena Rai MD amp CEO of MCX said The introduction of options on MCX BULLDEX marks a pivotal development in Indias commodities ecosystemThis is a unique and innovative product that will enhance the range of offerings in the commodity derivatives market and help participants take exposure to a basket of commodities in the bullion segment Rai addedThe launch comes at a time when gold and silver prices have seen a sharp rally this year Gold has surged more than 50 per cent while silver has jumped nearly 70 per cent driven by strong global demand and safehaven buyingThe monthly index contracts will have a threemonth trading cycle near month midmonth and far monthOnce a nearmonth contract expires a new one is introduced ensuring continuous tradingInvestors can trade these options from Monday to Friday between 9 am and 11301155 pm depending on US daylight saving timingsAccording to MCX the derivative contract will be valued at a minimum of Rs 5 lakh at the time of its launch in the marketFollowing the announcement MCX shares jumped 25 per cent to hit a days high of Rs 924490 on the BSE IANS https://dailyworld.in/business/mcx-introduces-options-on-bullion-index-shares-jump-25-pc-645127.html Mon, 27 Oct 2025 12:39:00 +0530 https://dailyworld.in/business/s-korean-banks-likely-to-tighten-lending-criteria-in-q4-report-645130.html Seoul Oct 27 Banks in South Korea are expected to tighten lending standards in the fourth quarter particularly for household loans as authorities have tightened loan restrictions to clamp down on the overheated housing market a central bank survey showed on Monday According to a Bank of Korea BOK survey of 203 financial institutions including 18 banks and 26 mutual savings banks the index measuring banks lending attitudes stood at minus 14 for the OctoberDecember period reports Yonhap news agencyA reading below zero indicates that more lenders plan to tighten rather than ease credit standards The figure compares with 7 in the first quarter minus 13 in the second quarter and minus 28 in the third quarterBy sector the index for home mortgage lending stood at minus 28 for the fourth quarter while that for loans to large corporations came in at 6Lending attitudes toward businesses are expected to ease somewhat while lending attitudes toward households are projected to tighten in line with the governments real estate policy measures a BOK official saidThe survey also found that credit risks for both companies and households are projected to remain a persistent concern amid domestic and global uncertainties the official addedThe government has introduced a series of measures to cool the real estate market Most recently it designated 21 additional districts in Seoul as speculative zones bringing all 25 districts in the capital under stricter regulationsIt also tightened lending rules cutting the mortgage loan cap to as low as 200 million won 139665 from 600 million won set in JuneMeanwhile holdings of foreign securities among South Korean investors in the third quarter rose nearly 60 per cent from a year earlier with US stocks dominating investors foreign portfolio data showed on MondayLocal investors held overseas stocks and bonds worth 2203 billion as of endSeptember up 597 per cent from the same period a year earlier according to the data from the Korea Securities Depository KSDThe value of US stocks and bonds held by South Korean investors totaled 1776 billion accounting for 807 per cent of their total overseas securities holdings Investments in US stocks alone totaled 1555 billion or about 94 per cent of their total overseas equity holdingsUS electric vehicle titan Tesla Motors Inc was South Korean investors top pick with their holdings reaching 275 billion Tesla was the top pick of local investors for the past three consecutive quarters IANS https://dailyworld.in/business/s-korean-banks-likely-to-tighten-lending-criteria-in-q4-report-645130.html Mon, 27 Oct 2025 12:54:00 +0530 https://dailyworld.in/business/kabul-seeks-alternate-routes-as-uncertainty-at-pakistan-border-affects-trade-645132.html New Delhi Oct 27 Uncertainty at the AfghanistanPakistan border following heavy exchanges of fire this month comes at a time when reports indicate a boom in Kabuls agricultural exports with dried fruits emerging as the countrys most valuable export in recent months This has forced the Taliban regime to seek new trade routes said reports Traders on both sides together lose about 1 million every day due to the closure of border crossings AfghanistanPakistan Joint Chamber of Commerce President Khan Jan Alokozai told Pajhwok Afghan NewsHe added about 2000 vehicles used to travel through the border posts daily but all these routes have been closed for the past two weeks Perishable items like fruits and vegetables are the major cause of the losses incurred by the tradersThe closure comes at a time when Afghanistans agricultural exports were showing a rare bright spot amid a difficult economic landscape with dried fruits almonds pistachios raisins dried apricots and walnuts among the countrys most valuable export lines in recent monthsReports from Kabul indicate that driedfruit shipments have generated approximately 518 million over the past 10 months with Tolo News quoting Herat Chamber of Commerce and Investment that dried fruit exports from the province itself have increased by over 130 per cent this yearAccording to the chambers data around 14000 tonnes of dried fruits worth nearly 40 million have been exported to various countries over the past six months In the same period last year 8000 tonnes were exported valued at 165 millionThe report also mentioned a recent announcement from the Herat Chamber of Agriculture and Livestock that several new international markets were showing interest in purchasing Afghan dried fruits which could significantly multiply the volume of dried fruit exportsOverall Afghan dried fruits are in high demand globally and those from Herat are considered even superior according to its officialsSignificantly almonds have proved resilient to water shortages and remain the only crop sustaining local livelihoods even as recent droughts have severely affected agriculture in Afghanistans central province of Daikundi reported Pajhwok NewsAlmond trees it said are known for their tolerance to drought and have survived in parts of the province and continue to serve as a main source of income for many familiesThe semiarid climate zone in Afghanistan is largely characterised by hot dry summers and cold winters with some wet spells in limited areas For its trade the landlocked country uses Karachi and Gwadar ports in Pakistan and Chabahar in Iran for shipmentsRecently the US has reimposed sanctions on Tehran ending earlier waivers in an apparent bid to isolate Iran This sudden turn has raised legal banking and insurance obstacles for global companies working at ChabaharNow in response to the challenges and the suspension of Afghan goods transit through Pakistan the Ministry of Industry and Commerce of Afghanistan has announced efforts to establish alternative trade routesAccording to Tolo News Minister of Industry and Commerce Nooruddin Azizi has shared his departments initiative aiming to support Afghan farmers traders and industrialistsThe Afghan news agency has claimed that some Pakistani media outlets have quoted the countrys Foreign Ministry as saying that trade transit with Kabul is currently suspended and crossings will remain closed until security conditions are reviewedThe Taliban leadership had claimed that it carried out retaliatory action at the Pakistan border on October 18 after Pakistan carried out airstrikes in Paktika province and also in KabulNormal trade can resume only after some concrete understanding is reached between the two neighbours in the ongoing multiround negotiations between their emissaries IANS https://dailyworld.in/business/kabul-seeks-alternate-routes-as-uncertainty-at-pakistan-border-affects-trade-645132.html Mon, 27 Oct 2025 13:08:00 +0530 https://dailyworld.in/business/tourism-witnessed-surge-in-uttarakhand-with-over-23-crore-visitors-in-last-three-years-govt-645061.html Dehradun Oct 27 The relentless efforts of the Pushkar Singh Dhamiled BJP government to promote tourism and pilgrimage in Uttarakhand are coming to fruition with more than 23 crore tourists arriving in the hill state during the last three years government officials said quoting the data released by the Tourism department This fresh surge in tourism has not only supported the livelihood of homestay hotel dhaba operators women selfhelp groups as well as businessmen employed with the transport sectorDue to the diligent efforts of the state government tourism and pilgrimage is continuously booming in UttarakhandThe special thing is that tourism in Uttarakhand has now become multidimensional tourists are not only limited to big cities and selected hill stations but are also reaching small tourist destinations in remote areas as wellAlong with this participation of not only domestic but also foreign tourists has increased in the hill state promoting adventure activities like rafting trekking bungee jumping mountaineering etcDue to this surge in tourism sector in Uttarakhand the benefits of tourism are directly reaching lakhs of people of the state which includes hotels restaurants homestay operators transport businessmen women selfhelp groups etcAt present more than 6000 homestay operators in the state have emerged as direct beneficiaries of increased tourism activities in the statePilgrimage activities have also increased significantly in the state As of now this year the number of pilgrims for the revered Char Dham Yatra alone has reached five millionThis year more than 4300 horse and mule operators provided their services on the Kedarnath and Yamunotri trekking routeThe state government is now promoting winter travel as wellPrime Minister Narendra Modis visit to the sacred Adi Kailash has also boosted pilgrimage and tourism in the border region of Uttarakhands Pithoragarh districtTourism is the backbone of Uttarakhands economy as the benefits of tourism and pilgrimage directly accrue to the local peopleTherefore the Uttarakhand government is striving to continue tourism and pilgrimage activities throughout the yearPrime Minister Modis visits to the hill state have boosted pilgrimage spirituality and tourism in UttarakhandThe Uttarakhand government continues to invest in tourism infrastructure publicprivate partnerships and digital solutions to improve tourist experiences and increase regional accessibilityFrom the launch of digital tourism platforms to improved transportation networks the state is positioning itself as a global leader in tourism innovation and sustainable growthIn addition partnerships with international airlines and tour operators are helping to expand international tourism to Uttarakhand particularly from key Asian and European markets IANS https://dailyworld.in/business/tourism-witnessed-surge-in-uttarakhand-with-over-23-crore-visitors-in-last-three-years-govt-645061.html Mon, 27 Oct 2025 04:04:00 +0530 https://dailyworld.in/business/us-has-reached-a-substantial-framework-with-china-to-avert-tariffs-us-treasury-secretary-bessent-645067.html Washinton Oct 27 US Treasury Secretary Scott Bessent has said that he believes the US has reached a framework agreement with China to avoid imposing an additional 100 per cent tariff on Chinese imports I think weve reached a substantial framework for the two leaders who will meet next Thursday that tariffs will be averted Bessent said on Sunday to ABC News from Kuala Lumpur Malaysia where President Donald Trump arrived on Saturday for a weeklong Asia diplomacy tourTrump is expected to meet with Chinese leader Xi Jinping in South Korea later this weekEarlier Chinese International Trade Representative Li Chenggang said the US and China had reached preliminary consensus on trade issues during discussions in Malaysia according to Chinese mediaBessent did not provide details about the framework but said on NBC News that he anticipates the US would get some kind of deferral on rareearth export controlsThe minerals have been central to trade tensions between the top global economiesBessent said the framework sets up Trump and Xi to have a very productive meeting adding I think it will be fantastic for US citizens for US farmers and for our country in generalBessent indicated that an escalation in tariffs on China is effectively off the table following what he described as very good trade talks with his Chinese counterpartsPresident Trump had threatened an additional 100 per cent tariff on China from November 1 over Beijings efforts to impose export controls on critical rare earths ratcheting up tensions between the US and ChinaAsked about the status of those tariffs Bessent told CBS News on Sunday that tariff threat has gone away after two days of talks in MalaysiaWe had a very good twoday meeting I would believe that the so it would be an extra 100 per cent from where we are now and I believe that that is effectively off the tableHe added I would expect that the threat of the 100 per cent has gone away as has the threat of the immediate imposition of the Chinese initiating a worldwide export control regimeUS and Chinese trade negotiators reached a basic consensus on how to address their respective concerns Chinese state media said on Sunday following talks between the two sides over the weekend in Kuala LumpurA delegation led by Chinese Vice Premier He Lifeng met with US officials including Treasury Secretary Scott Bessent and Trade Representative Jameson Greer for the talks which come days ahead of a highly anticipated meeting between Chinese leader Xi Jinping and US President Donald TrumpThe two leaders are expected to meet on the sidelines of the APEC summit in South Korea though Beijing unlike Washington has yet to confirm the meetingEarlier on Sunday Bessent said the two sides had set the stage for the leaders meeting with a very successful framework for the leaders to discussThe two sides engaged in candid indepth and constructive exchanges and consultations on major economic and trade issues of mutual concern the Chinese state media readout saidIt listed out those issues as including US penalties on Chinas maritime logistics and shipbuilding industry reciprocal tariffs fentanyl tariffs agricultural trade and export controls a sweeping set of frictions that have set the worlds two largest economies at loggerheadsTwo sides reached a basic consensus on arrangements to address each others concerns Both sides agreed to further finalise the specific details and fulfil their respective domestic approval processes the readout saidTrade and tech tensions between the worlds two biggest economies have heightened in recent weeks after the US expanded its export blacklist hitting Chinas access to American hightech while China ramped up its own export controls on rare earth minerals IANS https://dailyworld.in/business/us-has-reached-a-substantial-framework-with-china-to-avert-tariffs-us-treasury-secretary-bessent-645067.html Mon, 27 Oct 2025 07:55:00 +0530 https://dailyworld.in/business/paddy-procurement-rises-sharply-in-tn-over-17-crore-tonnes-procured-in-four-years-645076.html Chennai Oct 27 The state government announced a significant rise in paddy procurement under the DMK regime highlighting a neardoubling of average annual procurement when compared to the previous government According to an official release the state procured 17045545 tonnes of paddy between 2021 and 2025 translating to an annual average of 4261386 tonnes In contrast the previous administration 201617 to 202021 had procured 11351469 tonnes with an annual average of 2270293 tonnesThe difference amounts to 1991093 tonnes more under the current government which officials said reflects improved operational efficiency early planning and support to farmers The statement also said that the current paddy procurement season began on September 1 a full month ahead of the earlier practice of starting on October 1As of October 24 as many as 1853 Direct Procurement Centres DPCs have been opened across Tamil Nadu and 104 lakh tonnes of paddy have already been procured Of this 877 lakh tonnes have been transported to various districts by train while the remainder has been stored safely in the respective procurement centresThe release added that each DPC handles about 1000 bags of paddy per day with working hours extended till 8 pm to accommodate the heavy inflow of produce To meet the high demand DPCs are functioning even on Sundays 55104 tonnes were procured on October 19 aloneOfficials said this proactive approach has ensured timely payments and eased the burden on farmers during the peak harvest period The state government has also ensured adequate logistics and storage supportAn inventory of 265 crore gunny bags and 28856 plastic tarpaulins has been distributed statewideIn addition 4000 lorries and 1315 trains are being deployed daily to transport nearly 35000 tonnes of paddy To further streamline operations 100 additional load workers have been engaged since October 21 The Food and Civil Supplies Department said continuous monitoring is in place to ensure smooth procurement storage and transport across all districts IANS https://dailyworld.in/business/paddy-procurement-rises-sharply-in-tn-over-17-crore-tonnes-procured-in-four-years-645076.html Mon, 27 Oct 2025 09:38:00 +0530 https://dailyworld.in/business/indian-markets-open-higher-on-positive-us-china-trade-talks-645078.html Mumbai Oct 27 Indian stock markets opened on a positive note on Monday supported by progress in trade talks between the United States and China Investors showed optimism after reports suggested that both countries are close to signing a deal to ease trade tensionsThe Sensex was trading at 84450 up by 239 points or 028 per cent while the Nifty stood at 25874 gaining 79 points or 030 per centOn the weekly timeframe the index witnessed a correction of nearly 311 points from its high indicating heightened volatility and profit booking at higher levelsA breakdown below 25670 could trigger weakness toward 2550025400 while on the upside resistance is placed at 25950 followed by 26000 and 26100 analysts saidSustaining above these resistance levels will be crucial for the index to resume its upward trajectory they addedAmong the top performers on the Sensex were Tata Steel Bharti Airtel Tech Mahindra and HDFC Bank which rose up to 14 per centOn the other hand stocks like Infosys BEL Kotak Mahindra Bank and Bajaj Finance were among the laggards falling up to 14 per centBroader markets also traded in the green with the Nifty MidCap index rising 046 per cent and the Nifty SmallCap index up 023 per centThe rally in domestic equities came after US Treasury Secretary Scott Bessen said on Sunday that President Trumps proposed 100 per cent tariffs on Chinese goods were off the tableHe also mentioned that China is expected to increase soybean imports and delay restrictions on rare earth exports easing global trade concernsAll sectoral indices on the NSE were trading higher with the Nifty Realty index leading the gains up by 1 per centExperts said that positive global cues and optimism around the USChina trade deal lifted market sentiment helping Indian equities start the week on a strong noteComments from the US treasury Secretary Scot Bessent that there is a substantial framework for trade negotiations with China indicate that a USChina trade deal is on the cards analysts saidFor India the fundamentals are also turning positive with brisk festival season sales and reports of a smart pick up in capital spending by the private sector This long awaited trend has significant positive implications for Indias growth and stock market they mentioned IANS https://dailyworld.in/business/indian-markets-open-higher-on-positive-us-china-trade-talks-645078.html Mon, 27 Oct 2025 09:49:00 +0530 https://dailyworld.in/business/gold-prices-fall-as-us-china-trade-deal-nears-silver-extends-losses-645083.html Mumbai Oct 27 Gold prices declined on Monday after posting their first weekly loss since midAugust as hopes of a trade deal between the United States and China reduced demand for safehaven assets The fall also came after a sharp rally in gold prices in recent weeks which analysts said had gone too far too fastMCX gold prices opened 077 per cent lower at Rs 122500 per 10 grams on Monday compared to the previous close of Rs 123451Similarly silver prices on the MCX began the day 309 per cent lower at Rs 142910 per kg against the previous close of Rs 147470During the early trade gold futures on the MCX were trading down by Rs 1088 or 088 per cent at Rs 122363 per 10 grams while silver futures slipped by Rs 1130 or 077 per cent to Rs 146340 per kgSpot gold slipped 07 per cent to 408392 an ounce in Singapore after touching a low of nearly 4065 earlier in the sessionLast week gold prices dropped 33 per cent ending a strong rally that had pushed the metal to a record high of over 4380 an ounce just a week agoThe decline came as US and Chinese officials signaled that they were close to finalising a comprehensive trade agreementPresident Donald Trumps visit to the region for diplomatic talks has raised expectations of a breakthrough deal which could ease geopolitical tensions that have been supporting gold prices in recent monthsAnalysts noted that the recent pullback was largely due to profit booking as investors who benefited from golds steep rise since August chose to lock in gainsDespite the correction gold remains up more than 55 per cent this year supported by centralbank purchases and investor concerns over rising government deficits and weakening currenciesGold prices continue to decline as safehaven demand weakens amid optimism over a potential USChina trade deal and a stronger US dollar analysts saidThis week is a crucial one for the bullion market with key events including meetings between US President Donald Trump and Chinese President Xi Jinping a US Federal Reserve announcement and several major tech company earnings reports they added IANS https://dailyworld.in/business/gold-prices-fall-as-us-china-trade-deal-nears-silver-extends-losses-645083.html Mon, 27 Oct 2025 10:40:00 +0530 https://dailyworld.in/business/tcs-refutes-uk-media-report-on-losing-1-bn-mamps-contract-calls-it-misleading-645084.html New Delhi Oct 27 Tata Consultancy Services TCS has denied a UK media report claiming that British retailer Marks amp Spencer MampS ended a 1 billion contract with the Indian IT giant after cyberattackrelated failures The company called the report misleading and factually inaccurateIn a clarification to the stock exchanges TCS said that the article titled MampS ousts Indian outsourcer accused of 300m cyberattack failures contained several wrong details including the reported size of the contract and its connection with the cyber incidentThe report published is misleading with factual inaccuracies including the size of the contract and the continuity of TCS work for Marks amp Spencer MampS the tech giant saidTCS explained that the MampS service desk contract mentioned in the report had gone through a routine competitive tender process that began in January 2025According to the company Marks amp Spencer decided to work with other partners much prior to the cyber incident in April 2025 adding that the two matters were clearly unrelatedThe IT firm also noted that the service desk contract was a very small part of its overall partnership with MampSTCS continues to work on numerous other areas in its role as a strategic partner for MampS and is proud of this longstanding partnership the company saidRegarding the cyberattack TCS clarified that it had conducted a complete scan of its systems and found no vulnerabilities from its endIt further stated that it does not provide cybersecurity services to MampS as those are handled by another vendorThe clarification came after reports suggested that MampS chose not to renew its 1 billion technology helpdesk deal with TCS following a cyberattack that caused the retailer losses worth about GBP 300 millionBoth companies have since confirmed that the contract decision was made before the incident and was part of a regular renewal process IANS https://dailyworld.in/business/tcs-refutes-uk-media-report-on-losing-1-bn-mamps-contract-calls-it-misleading-645084.html Mon, 27 Oct 2025 10:51:00 +0530 https://dailyworld.in/business/sohna-stands-out-in-top-5-micro-markets-in-gurugram-report-645085.html New Delhi Oct 27 South of Gurugram has emerged as the citys new frontier for development with Sohna Dwarka Expressway Golf Course Road Golf Course Extension Road and southern peripheral road SPR being the top five micromarkets which demonstrate potential a report showed on Monday Out of total graded residential supply of 85921 units in NCR Gurugram including Sohna has the highest supply share 73 per cent across emerging micromarkets according to a Colliers reportAmong those Sohna leads the possibility of price appreciation tally with up to 16 times growth by 2030 While Golf Course Extension and SPR corridors cater to premium and uppermid housing Sohna is steadily evolving as a complementary hub with its own real estate momentum shaped by affordabletoupper mid housing industrial estates and rapidly improving infrastructure the report maintainedSohna as one of the emerging micromarkets in South of Gurugram is anticipated to witness price appreciation up to 16X by 2030 benefitting both homebuyers and investors Swapnil Anil Managing Director Advisory Services Colliers India saidDelhiNCRs real estate landscape is gaining momentum driven by policy support infrastructure upgrades and robust real estate activityAs expanding cities unlock new areas to cater to growing demand micromarkets located proximity to citys business districts are emerging as attractive investment destinations offering strong potential for capital appreciationIn the last five years Sohna has emerged as a preferred residential hub evolving from affordable housing to mid and upper midsegment developments driven by infrastructure growth and strong developer activity offering rightpriced rightsized homes and longterm returns on investmentIt has recorded a graded residential apartment supply of 8200 housing units with only 45 per cent available in the primary market for sale highlighting steady demand and absorption rate the report mentionedResidential prices along Sohna Expressway range between Rs 1000012000 per sq ft which is 23 times more affordable than other micromarkets of GurugramSohna is known for its wellestablished social and tourist infrastructure which is set to be further enhanced by the upcoming 10000acre jungle safari project said the report IANS https://dailyworld.in/business/sohna-stands-out-in-top-5-micro-markets-in-gurugram-report-645085.html Mon, 27 Oct 2025 10:52:00 +0530 https://dailyworld.in/business/explained-how-washington-posts-article-on-lic-adani-link-churns-out-misleading-false-narratives-645088.html New Delhi Oct 27 Ahead of the Bihar Assembly elections and the upcoming Winter Session of Parliament a USbased media outlet published an article alleging that the Government of India pressured LIC to invest up to 39 billion in the Adani Group including 568 million Rs 5000 crore in May 2025 The article contains multiple false information factual inaccuracies misleading claims and false narratives The Life Insurance Corporation of India LIC has already issued an official rebuttal to the Washington Post article categorically describing it as false baseless and far from the truthFormer LIC Chairman Siddhartha Mohanty has also denounced the report stating A misleading narrative has been created by The Washington Post against LICs investments in the Adani Group alleging government interference I categorically affirm that the Government never interferes directly or indirectly in any investment decision of LIC I call upon The Washington Post to withdraw the unverified content from all platforms and refrain from publishing such baseless allegationsAccording to people close to the matter the article is based on wrong assumptions that Adani Ports amp SEZ needed money to refinance its dues and states that Adanis ports subsidiary needed to raise roughly 585 million in a bond issue to refinance existing debtNo such refinancing was due As clearly stated in Adani Ports amp SEZs official media release on May 30 this year the funds raised from LIC were earmarked for the proposed buyback of bonds maturing between 2027 and 2029 not for refinancing any existing debtImmediately after in July Adani Ports launched a tender offer to buy back up to 450 million of outstanding US bonds all maturing between 2027 and 2029The second paragraph of the article incorrectly states Indias second richest man whose net worth hovers around 90 billion had been charged with bribery and fraud last year by the US authorities and several major American and European banks he had looked to for loans were hesitant to helpThe fact is that several American and European institutions have invested in Adani in recent months all of which is publicIn April 2025 BlackRock invested in Adanis private entities In June 2025 Apollos Athene Life led a US750 million Rs 6650 crore investment in Adanis Mumbai Airport in which several insurers participatedIn September 2025 Leading Dutch Bank Rabobank and DZ Bank Germanys second largest bank based on assets invested in Adanis Green AssetsThe opening statement in the article that debt was piling up quickly this spring is falseAdanis debt numbers or balance sheets are not disclosed for the April to June 2025 quarter as Indian companies follow the practice of releasing balance sheets only halfyearly hence this claim is unverifiedFurther the debt of Adani Ports amp SEZ the company in reference has only reduced its debt in FY25 over FY24 to Rs 36422 crore The leverage of not a single Adani group company has increased in FY2025As leverage is a financial figure it can be easily verified from the companies balance sheets but this was not done Instead a dramatic dire situation is created in the opening statement to prejudice the readerFurther for FY25 Adani Portfolios EBITDA was Rs 89218 crore and the total longterm debt was Rs 265 lakh crore and the cash balance was Rs 53843 crore This simply means that Adani can knock off the entire debt in less than three years if it pauses investmentAdani Ports amp SEZ is rated AAA by all four leading domestic rating agencies the highest rating achievable by any Indian corporate reflecting the strongest credit quality and utmost safety for lenders including LICFurther the BBB rating by Fitch for Adani Ports subsidiary and Adanis two green units is equivalent to Indias sovereign rating the highest possible international rating any Indian entity can hold and LIC can invest inTo describe such investments as too risky for a lowrisk lender like LIC is factually baseless and misrepresents both Adani Ports financial strength and LICs prudent investment framework according to people familiar with the matterThe article has quoted Tim Buckley stating Why should he sell them if he can actually just get the government of India to keep on funding him he said Its the Indian people that have to keep bailing him outThe fact is that Adani has never required any bailout from the Indian people the government or its institutions Adani Ports over 75 per cent debt is foreign debt and the remaining is from a mix of domestic institutions including some of the top mutual funds and banksThis is not the first time LIC which has an AUM of over Rs 55 lakh crore has been the sole subscriber to an issuance LIC has also solely subscribed to 10year issuances by institutions like Vedanta AA rated LampT Finance AAA rated NIIF Infra Fund AAA rated Shriram Finance Ltd AA Rated India Infradebt Limited AAA rated and Arka Fincap Ltd AA ratedIn November 2023 Reliance Industries successfully raised Rs 20000 crore through a 10year domestic bond issue via private placement marking the largest such sale by an Indian nonfinancial firm at the time and the issue was indeed heavily oversubscribed wherein with LIC subscribing the lions share of Rs 12000 croreLIC is receiving 126 per cent additional spread over a 15year GSEC bond on the underlying Rs 5000 crore loan to APSEZs AAA issuance translating to additional Rs 950 crore profit over the period of tenure of the bond in comparison to a similarrated 15year Government Bond Total yield on APSEZ AAA issuance 765 per cent while 15year GSec Yield offered 649 per cent yieldDebt from LIC is less than 3 per cent of Adanis total debt Fifty per cent of the debt is from overseas investors including investors from the US Europe the Middle East and Asia Pacific and has some of the best names globally in the investors listNot just LIC but several other top institutions including ICICI Prudential Nippon and SBI mutual funds HDFC and ICICI banks LIC of India infrastructurefocused funds like NIIF Infra Aseem Infra and IIFCL and top provident funds have invested in the bond offerings by Adani over the past six monthsThe fact is that LICs debt exposure to Adani is less than 03 per cent of its overall debt portfolio On the equity side LIC invested Rs 30127 crore in Adani companies the value of which has almost doubled over the past four yearsAlso Adani is not LICs largest holding Reliance Tata Group ITC SBI SBI Bank and SBI Cards LampT HDFC and Infosys are IANS https://dailyworld.in/business/explained-how-washington-posts-article-on-lic-adani-link-churns-out-misleading-false-narratives-645088.html Mon, 27 Oct 2025 10:54:00 +0530 https://dailyworld.in/business/path-to-viksit-bharat-will-be-built-across-our-villages-fm-sitharaman-645114.html New Delhi Oct 27 The path to Viksit Bharat will be built not merely in cities or industrial hubs but across our villages Finance Minister Nirmala Sitharaman said on Monday In a series of posts on X social media platform citing a media article written by her she said this will be achieved by empowering farmers as entrepreneurs converting every district into a processing hub and ensuring that the fruits of Indias progress reach every householdAn umbrella brand of Kalyana Sampada was created and each district was encouraged to identify an agriproduct or a set of products that could be developed into valueadded commodities said FM SitharamanThe initiative aligns with Prime Minister Narendra Modis vision of One District One Product programme as an extension of Make in India for our annadatas farmersIn each district a farmer producer company FPC was chosen by NABARD to operate the food processing and training units My MPLADS funds were leveraged to support farmers of the region by bringing agroprocessing capabilities to their doorstep the finance minister informedAccording to her agroprocessing today demands capital technology and market linkagesIn an increasingly protectionist global environment strengthening our domestic food processing capacity is a national security priority Selfsufficiency in food processing ensures resilience against global disruptions and creates rural prosperity in tandem she mentioned in her X postsIndia is primed for this leap In the true spirit of cooperative federalism the Centre and states must join hands to scale and replicate these successful models nationwide FM Sitharaman addedEarlier this month Sitharaman assured farmers of full support to boost agricultural income as she inaugurated the Farmers Training and Common Facility Centre and a new agroprocessing unit hereAddressing the gathering in Karnataka she highlighted initiatives like soil health cards fertilisers financial assistance and the increased MSP for foodgrains and pulses IANS https://dailyworld.in/business/path-to-viksit-bharat-will-be-built-across-our-villages-fm-sitharaman-645114.html Mon, 27 Oct 2025 12:07:00 +0530 https://dailyworld.in/business/trump-slaps-additional-10-pc-tariffs-on-canada-over-ad-dispute-644982.html Washington Oct 26 US President Donald Trump has slapped an additional 10 per cent tariffs on Canada blaming its northern neighbour of running a fraudulent advertisement on former President Ronald Reagans speech on tariffs In a Truth Social post late Saturday Trump wrote Their Advertisement was to be taken down IMMEDIATELY but they let it run last night during the World Series knowing that it was a FRAUD Because of their serious misrepresentation of the facts and hostile act I am increasing the Tariff on Canada by 10 per cent over and above what they are paying nowThe Us President once again accused Canada of attempting to interfere with the decision of the US Supreme Court which is currently reviewing legal challenges to his tariff measuresThe sole purpose of this FRAUD was Canadas hope that the United States Supreme Court will come to their rescue on Tariffs that they have used for years to hurt the United States he addedAfter Trumps opposition on Thursday Ontario Premier Doug Ford said he would pause running the antitariff ad from Monday so that trade talks can resumeCanadian Prime Minister Mark Carney asserted on Friday that his government remains ready to continue constructive discussions with the United States after US President abruptly announced the termination of trade negotiations between the two countriesFor months we have stressed the importance of distinguishing things we can control and things we cant control Carney said before leaving for Malaysia for the ASEAN SummitWe cant control the trade policy of the United States We recognise that policy has fundamentally changed from the policy in the 1980s 1990s and 2000sCarney noted that Canadas negotiators had been making a lot of progress in talks with their US counterparts particularly on key sectors such as steel aluminium and energyOur officials have been working with their American colleagues on detailed constructive negotiations We stand ready to pick up on that progress and build on that progress when the Americans are ready to have those discussions he addedCarneys remarks came hours after President Trump said late Thursday that he was ending all trade negotiations with Canada citing a recent video advertisement produced by Ontarios provincial governmentThe ad featured archival footage of former US President Ronald Reagan criticising tariffs footage Trump described as fakeTARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY AND ECONOMY OF THE USA Trump wrote on Truth SocialBased on their egregious behaviour ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATEDWhite House National Economic Council Director Kevin Hassett on Friday said the decision reflected the Presidents frustration with the Canadians over trade negotiationsI think the President is very frustrated with Canada and he has a right to be Hassett told Fox News adding that Canadian negotiators had been very difficult to negotiate with and that frustration has built up over timeThe latest dispute adds new uncertainty to one of the worlds largest bilateral trading relationshipsTrump has imposed a 35 per cent tariff on some of Canadas exports and has repeatedly suggested that Canada should be the 51st US state IANS https://dailyworld.in/business/trump-slaps-additional-10-pc-tariffs-on-canada-over-ad-dispute-644982.html Sun, 26 Oct 2025 04:23:00 +0530 https://dailyworld.in/business/market-outlook-us-fed-meeting-q2-earnings-trade-deals-likely-to-drive-market-sentiment-next-week-645005.html Mumbai Oct 26 The coming week is expected to be crucial for Indian equity markets with multiple key factors likely to influence investor sentiment The US Federal Reserve meeting Q2 earnings announcements IIP data and developments related to the USChina and USIndia trade deals will play a major role in determining the markets directionThe US Federal Reserves policy meeting is scheduled for October 2829 Analysts believe the Fed may consider an interest rate cut which could have a positive impact on both global and domestic marketsSeveral major companies are set to release their quarterly earnings next week including Indian Oil TVS Motor Company LampT Hindustan Petroleum ITC Cipla Dabur India Maruti Suzuki India BEL and ACCTrade deal developments will also be closely watched as the US is actively working on agreements with both China and IndiaAny significant progress on this front could trigger strong market reactionsDuring the past week Indian stock markets ended slightly higher The Nifty closed at 2579515 up 033 per cent or 8530 points while the Sensex gained 031 per cent or 25969 points to settle at 8421188Sectorwise Nifty IT gained 296 per cent PSU Bank rose 234 per cent Pharma advanced 047 per cent Metal climbed 145 per cent Realty gained 077 per cent Energy rose 065 per cent and Media added 135 per centHowever Nifty Auto slipped 044 per cent Financial Services fell 052 per cent and FMCG declined 047 per centMidcap and smallcap indices also witnessed gains The Nifty Midcap 100 Index rose 32895 points or 056 per cent to 5923120 while the Nifty Smallcap 100 Index advanced 13095 points or 072 per cent to close at 1825335Analysts said that currently Nifty continues to trade above its 20day 50day and 200day EMAs highlighting a strong underlying bullish structure and sustained trend strengthOn the weekly timeframe the RSI stands at 6160 and is trending sideways indicating a neutraltopositive bias with potential for renewed momentum once consolidation ends they addedOn the downside a decisive break down below 25670 could accelerate weakness towards 25500 and further down to 25400 Conversely on the upside immediate resistance is seen at 25950 followed by 26000 and 26100 experts said IANS https://dailyworld.in/business/market-outlook-us-fed-meeting-q2-earnings-trade-deals-likely-to-drive-market-sentiment-next-week-645005.html Sun, 26 Oct 2025 11:44:00 +0530 https://dailyworld.in/business/7-of-top-10-firms-add-rs-155-lakh-crore-in-market-value-645019.html Mumbai Oct 26 The combined market valuation of seven of Indias top 10 mostvalued companies rose by Rs 15571074 crore in the holidayshortened week supported by a positive trend in domestic equities Tata Consultancy Services TCS and Bharti Airtel were among the biggest gainers according to the official dataDuring the week the benchmark Sensex gained 25969 points or 030 per cent On Thursday the 30share index touched a 52week high of 8529006Among the top10 companies Bharti Airtel TCS State Bank of India SBI Bajaj Finance Infosys and Life Insurance Corporation of India LIC saw an increase in their market capitalisation while HDFC Bank ICICI Bank and Hindustan Unilever Limited HUL witnessed declinesThe market value of TCS jumped by Rs 361266 crore to Rs 110802121 crore while Infosys added Rs 3493851 crore taking its valuation to Rs 63371238 croreSBIs market capitalisation climbed by Rs 1389207 crore to Rs 83481705 crore and Bajaj Finances valuation rose by Rs 1194717 crore to Rs 67784636 croreBharti Airtels mcap increased by Rs 977911 crore to Rs 115701419 crore while LICs valuation went up by Rs 234025 crore to Rs 56251367 croreOn the other hand ICICI Banks market value fell by Rs 4374459 crore to Rs 98274676 croreHULs valuation declined by Rs 2052368 crore to Rs 59148610 crore and HDFC Banks mcap dropped by Rs 1198368 crore to Rs 152822710 croreBharti Airtel remained among the most valued firms followed by HDFC Bank TCS ICICI Bank State Bank of India Bajaj Finance Infosys Hindustan Unilever and LICCommenting on the market outlook analysts said that the Nifty continues to trade above its 20day 50day and 200day EMAs highlighting a strong underlying bullish structure and sustained trend strengthOn the weekly timeframe the RSI stands at 6160 and is trending sideways indicating a neutraltopositive bias with potential for renewed momentum once consolidation ends experts saidOn the downside a decisive break down below 25670 could accelerate weakness towards 25500 and further down to 25400 they addedMarket experts said on the upside immediate resistance is seen at 25950 followed by 26000 and 26100A sustained move above these levels would confirm the continuation of the bullish trend while failure to cross them may keep the shortterm trend rangebound experts mentioned IANS https://dailyworld.in/business/7-of-top-10-firms-add-rs-155-lakh-crore-in-market-value-645019.html Sun, 26 Oct 2025 13:19:00 +0530 https://dailyworld.in/business/imf-data-shows-indias-economy-growing-rapidly-on-strong-domestic-consumption-economists-645027.html New Delhi Oct 26 Indias economy continues to expand at a rapid pace driven by strong domestic consumption robust manufacturing and steady growth in the services sector economists said on Sunday They said the latest data from the International Monetary Fund IMF presents an encouraging outlook for the country reinforcing its position as the worlds fastestgrowing major economyAccording to the IMFs latest projections Indias economy is expected to grow at 66 per cent in 2026 maintaining its lead among large economiesIn contrast Chinas growth rate is forecast to slow to 48 per cent during the same periodCommenting on the IMFs report Dr Manoranjan Sharma Chief Economist at Infomerics Ratings said The IMF figures have been released and they are very positive and encouraging Indias growth rate in 2026 is expected to be 66 per cent while Chinas will be only 48 per centThis steady growth can be attributed to three key drivers rising domestic consumption a revival in manufacturing and strong performance in the services sector he saidDr Sharma added that Indias economy is expanding at a time when global growth is slowing downThe IMF estimates that the world economy which grew at 33 per cent in 2024 will moderate to 32 per cent in 2025 and 31 per cent in 2026The slowdown has been partly attributed to tariff measures introduced by US President Donald Trump which have disrupted global trade flowsThe IMFs World Economic Outlook report projects that advanced economies will grow by just 16 per cent while developing economies are expected to expand by 42 per centThe US economy is forecast to grow at 19 per cent down from 24 per cent in 2024 while Spain is expected to be the fastestgrowing advanced economy at 29 per centThe report also highlights that Chinas economic momentum is weakening due to structural challenges including demographic shifts high debt levels and continued pressure in the real estate sectorIn contrast Indias growth story is underpinned by structural reforms steady consumption growth and major investments in infrastructureEconomists believe Indias sustained momentum enhances its attractiveness for foreign direct investment FDI and portfolio inflows strengthening its global economic standing and geopolitical influenceHowever they caution that the country must now translate this growth into inclusive developmentIndia must seize this opportunity to accelerate job creation reduce poverty and invest in infrastructure education and healthcare Dr Sharma notedThe next few years will be critical for turning growth into longterm gains through higher productivity better labour absorption and a focus on skill development he added IANS https://dailyworld.in/business/imf-data-shows-indias-economy-growing-rapidly-on-strong-domestic-consumption-economists-645027.html Sun, 26 Oct 2025 14:10:00 +0530 https://dailyworld.in/business/india-sailing-ahead-with-over-rs-3-lakh-crore-maritime-vision-2030-645034.html New Delhi Oct 26 Charting a decade of transformation from 2014 to 2025 Indias maritime sector is cruising ahead with a record performance across ports coastal shipping and inland waterways according to an official statement issued on Sunday ahead of the India Maritime Week 2025 which kicks off in Mumbai on Monday The development is powered by Maritime India Vision 2030 backed by a total investment of Rs 335 lakh crore to modernise ports expand shipping capacity and strengthen inland waterways A recent landmark package of Rs 69725 crore is under implementation to boost shipbuilding and revitalise the maritime ecosystemIndias ports sector has witnessed a transformative leap with total port capacity nearly doubling from 1400 million metric tonnes per annum MMTPA to 2762 MMTPA reflecting major investments in modernisation and infrastructureThe sectors financial strength has surged with the net annual surplus rising sharply from Rs 1026 crore to Rs 9352 crore underscoring improved revenue generation and cost management the statement saidEfficiency indicators have also strengthened with the operating ratio improving from 73 per cent to 43 per cent marking a major step toward sustainable and profitable port operationsCargo handling volumes have grown impressively from 972 million metric tonnes MMT to 1594 MMT signalling robust growth in maritime trade and port efficiency with major ports handling approximately 855 million tonnes of cargo in FY 20242025 an increase from 819 million tonnes in FY 202324Operational performance has improved significantly as the average vessel turnaround time has been reduced from 93 hours to just 48 hours enhancing overall productivity and global competitivenessIndias shipping sector has charted steady growth with the number of Indianflagged vessels rising from 1205 to 1549 reflecting the nations expanding maritime presenceThe gross tonnage of the Indian fleet has increased from 10 million gross tonnes MGT to 1352 MGT underscoring a stronger and more capable shipping capacityCoastal shipping has gained significant momentum with cargo movement nearly doubling from 87 million metric tonnes MMT to 165 MMT reinforcing the shift toward efficient lowcost and ecofriendly transport modesIn a landmark development for the inland water transport sector the Inland Waterways Authority of India IWAI reported a record cargo movement of 146 MMT in 2025 up from 18 MMT in 2014 an increase of around 710 per centThe number of operational waterways has increased remarkably from 3 to 29 reflecting a major boost to Indias inland transport networkIWAI handed over the Haldia MultiModal Terminal MMT to IRC Natural Resources marking a major step in advancing inland waterway infrastructure and promoting multimodal logistics under the PublicPrivate Partnership PPP model Built with World Banks assistance the West Bengal terminal has a capacity of 308 million metric tonnes per annum MMTPAFerry and RoPax a ship that carries both vehicles and passengers have also gained strong traction carrying over 75 crore passengers in 202425 reflecting growing public adoption of waterbased transport for safe and efficient travelIn just a decade Indias seafarer workforce has surged from 125 lakh to over 3 lakh now accounting for 12 per cent of the global seafaring workforce making the country one of the worlds top three suppliers of trained seafarers and opening up vast opportunities in navigation ship operations logistics and allied maritime industries at home and overseasWith a Rs 25000 crore corpus the Maritime Development Fund MDF is set to provide longterm financing to expand Indias shipping tonnage and shipbuilding capacity Complementing this the revamped Shipbuilding Financial Assistance Scheme with an outlay of Rs 24736 crore tackles domestic cost disadvantages and incentivises shipbreaking while the Shipbuilding Development Scheme drives greenfield clusters yard expansions and risk coverage with Rs 19989 croreIndia Maritime Week 2025 IMW 2025 is a landmark event in the global maritime calendar taking place from October 27 to 31 at the NESCO Exhibition Centre Mumbai Bringing together key stakeholders from the shipping port and logistics communities IMW 2025 will serve as a strategic platform for dialogue collaboration and business development The event is expecting participation from over 100 countries and drawing more than 100000 delegates port operators investors innovators and policymakers alike The fiveday programme will feature 500 exhibitors thematic pavilions technology demonstrations and sessions spanning portled development shipbuilding clusters and digital corridors IANS https://dailyworld.in/business/india-sailing-ahead-with-over-rs-3-lakh-crore-maritime-vision-2030-645034.html Sun, 26 Oct 2025 15:10:00 +0530 https://dailyworld.in/business/india-continues-to-attract-record-fdi-flows-as-global-firms-exit-pakistan-645037.html New Delhi Oct 26 While India continues to attract record levels of foreign investment and corporate expansion Pakistan has witnessed a steady retreat of global firms across sectors This contrast reflects not only macroeconomic trends but also the underlying business culture regulatory frameworks and institutional capacity that shape investor confidence and longterm strategic decisions according to an article in Japan Forward a website of the Sankei Shimbun newspaperPakistan despite being the fifthmost populous country in the world has struggled to retain the interest of major international companies The recent announcement by Procter amp Gamble PampG to shut down its manufacturing and commercial operations in Pakistan is emblematic of broader challenges the article by Professor Pema Gyalpo saidThe PampGs exit follows similar moves by Shell Pfizer TotalEnergies Telenor and Microsoft Pfizer sold its Karachi manufacturing plant to Lucky Core Industries in 2024 ending local production Shell exited in 2023 after years of strategic reconsideration selling its stake to Saudi Arabias Wafi EnergyTotalEnergies divested its share in Total PARCO Pakistan Limited to Singaporebased Gunvor Group Telenor after a failed merger attempt agreed to sell its Pakistan operations to Pakistan Telecommunication Company Limited though regulatory approvals have delayed the transaction Microsoft after 25 years in Pakistan quietly shut down its operations in July 2025These exits span diverse sectors consumer goods energy pharmaceuticals telecommunications and technology suggesting systemic rather than sectorspecific issues Industry leaders have pointed to high power costs regulatory uncertainty and infrastructure bottlenecks as key deterrentsSaad Amanullah Khan former CEO of Gillette Pakistan noted that such departures should serve as a wakeup call for policymakers The lack of reliable logistics frequent power outages and delays in approvals have made it increasingly difficult for MNCs to operate efficientlyThe pharmaceutical sector offers a particularly stark example Multinational drug companies have faced prolonged delays in price change approvals and regulatory hurdles from the Drug Regulatory Authority of Pakistan DRAP Inconsistent enforcement lack of transparency and outdated promotional standards have discouraged innovation and investmentThese challenges are compounded by macroeconomic instability currency depreciation inflation and limited access to foreign exchange which erode profitability and complicate financial planningThe article highlights that in contrast India has emerged as a preferred destination for global investment In FY2425 alone India attracted 81 billion in foreign investments driven by steady economic growth a rapidly expanding middle class and a businessfriendly policy environment The governments proactive initiatives such as Make in India digital infrastructure expansion and tax reforms have created a conducive climate for corporate expansionMajor global firms are deepening their footprint in India Airbus is investing across manufacturing engineering and training aligning with national priorities Microsoft has committed 3 billion to expand its cloud and AI infrastructure with new data centres planned to support growing demandApple has significantly increased iPhone production assembling over 22 billion worth of devices in April 2025 alone Amazon already one of Indias largest employers is investing an additional 82 billion in cloud infrastructure in Maharashtra NTT DATA has launched its largest data centre campus in India while VinFast LLC is building a 2 billion EV manufacturing plant in Tamil NaduThe pharmaceutical sector in India is also thriving Eli Lilly is investing over 1 billion in contract manufacturing and establishing a global capability center in Hyderabad The company is positioning India as a key hub for innovation and production including the rollout of its experimental weight loss drug These moves reflect confidence in Indias regulatory environment skilled workforce and infrastructure readiness IANS https://dailyworld.in/business/india-continues-to-attract-record-fdi-flows-as-global-firms-exit-pakistan-645037.html Sun, 26 Oct 2025 15:53:00 +0530 https://dailyworld.in/business/rapid-5g-rollout-adoption-lay-foundation-for-indias-6g-vision-govt-645038.html New Delhi Oct 26 The Government is taking major steps to make the country a global leader in nextgeneration communication technologies according to official data on Sunday Building on the rapid rollout and adoption of 5G the government is now focusing on developing 6G technology under its Bharat 6G Vision which aims to make India a hub for advanced telecom innovation by 2030According to the government Indias 6G vision is based on the principles of affordability sustainability and universal accessThe goal is to ensure that every citizen benefits from highspeed connectivity while promoting indigenous research innovation and collaboration with global partnersThe initiative is closely linked with the national goal of building a Viksit Bharat Developed India by 2047Sixthgeneration or 6G technology will be the next major upgrade in wireless communication following 5G It is expected to be 1000 times faster than 5G with almost zero delay in data transferThis will enable realtime applications such as remote surgeries advanced robotics smart cities and immersive virtual experiencesTo support the development of 6G the government has launched several initiatives It has funded two advanced testbeds the 6G Terahertz THz Testbed and the Advanced Optical Communication Testbed to boost research and innovationAdditionally 100 5G labs have been set up in academic institutions across India to prepare the ecosystem for 6G and strengthen collaboration between industry and academiaAs of now 104 research proposals related to 6G network ecosystems have been approved aligning Indias RampD efforts with the global 6G roadmapThe government has also launched the Telecom Technology Development Fund TTDF to promote indigenous RampD in telecom technologiesSo far 115 projects worth over Rs 310 crore have been approved under the scheme focusing on both 5G and 6G technologiesA major step towards achieving this vision is the creation of the Bharat 6G Alliance B6GA a joint effort of the government industry academia and research institutionsThe alliance aims to create a selfreliant globally competitive ecosystem for advanced telecom technologies IANS https://dailyworld.in/business/rapid-5g-rollout-adoption-lay-foundation-for-indias-6g-vision-govt-645038.html Sun, 26 Oct 2025 15:53:00 +0530 https://dailyworld.in/business/stronger-india-brazil-ties-to-give-global-south-a-bigger-say-645046.html New Delhi Oct 26 IANS India and Brazil are strengthening trade investment and energy ties as part of the BRICS bloc a move that is expected to boost the negotiating power of the Global South at a time when the turmoil over US tariffs has increased uncertainty in global tradenbspThe two countries have decided to go in for a substantial expansion of the agreement between India and MERCOSUR member states aiming for a significant share of the bilateral trade to benefit from tariff preferences according to a joint statement issued after a meeting held here between the Vice President of Brazil Geraldo Alckmin and Indias Minister of Commerce and Industry Piyush GoyalThe agreement between India and MERCOSUR comprising Brazil Argentina Bolivia Paraguay and Uruguay was signed on June 17 2003 with the aim of strengthening relations and promoting the expansion of tradenbspAccording to the joint statement the expansion of the agreement should cover both tariff and nontariff issues related to trade and economic partnershipnbspAnalysts say the push is not just about shielding their economies from punitive US tariffs but also about asserting influence on multilateral issues ranging from energy security to global climate policy according to an article in the South China Morning Posts publication This Week in AsiaBrazil is Indias largest trade partner in South America and the two countries agreed to raise bilateral trade to 20 billion by 2030 from 12 billion last yearnbspThis is a partnership of weight and complementarity There is a reason to be together because their interests coincide but it is also in the interest of humankind Manjeev Puri Indias former ambassador to the European Union told This Week in AsianbspBoth countries were strong advocates for protecting the interests of developing nations in the Global South he saidnbspBrazil has helped the Global South by raising issues such as food security and health at multilateral forums including BRICS and G20 while India has provided digital infrastructure sharing humanitarian aid and supported the inclusion of the African Union into the G20Besides being founding members of BRICSa bloc of major emerging national economies that includes Russia China and South AfricaIndia and Brazil are also part of a trilateral grouping called the IndiaBrazilSouth Africa Dialogue Forum that seeks to promote cooperation in various sectorsnbspIt is in our national interest that we will be with Brazil no matter that there are strong headwinds from the US in particular Puri saidnbspExperts say there are several possible areas for deeper bilateral cooperation Brazils pioneering efforts in developing sugar canebased biofuels could be important for Indias own push to increase use of ethanol to trim crude oil imports which have historically been the biggest drag on its foreign exchange Puri notedAviation could be another sector experts say Brazilian aerospace major Embraer inaugurated its office in Delhi to strengthen its presence in Indias commercial aviation sector The Indian Air Force and the commercial airline Star Air already use Embraer aircraftnbspBrazils Vice President also met Petroleum Minister Hardeep Singh PurinbspWas pleased to meet Geraldo Alckmin Vice President and Minister of Development Industry Trade and Services of Brazil during his visit to India Our conversation focused on the expanding energy partnership between India and Brazil from robust bilateral trade in hydrocarbons and longterm crude supply contracts with Petrobras to Indian investments worth over USD 35 billion in Brazils upstream sector making it Indias largest investment destination in the Americas Puri said after the meetingThe minister further stated that discussions also took place on opportunities for collaboration in exploration and production Indias participation in upcoming offshore projects and mutual prospects in deep and ultradeepwater activitiesnbspAlckmin also held a meeting with Defence Minister Rajnath Singh Brazilian Defence Minister Jose Mucio Monteiro Filho was also present during the interactionnbspIndia and Brazil share a strategic partnership The leaders reviewed the entire range of multifaceted relations in the defence sector between the two countriesnbspThey also exchanged views on areas of mutual interest covering militarytomilitary and defence industrial cooperation including joint exercises and training visitsnbspThe leaders reviewed the progress of ongoing defencerelated initiatives and identified priority areas for joint work including exploring opportunities for codevelopment and coproduction of defence equipment the Ministry of Defence said in a statement https://dailyworld.in/business/stronger-india-brazil-ties-to-give-global-south-a-bigger-say-645046.html Sun, 26 Oct 2025 17:20:00 +0530 https://dailyworld.in/business/kotak-mahindra-banks-q2-net-profit-dips-27-pc-to-rs-3-253-crore-644867.html Mumbai Oct 25 Private sector lender Kotak Mahindra Bank on Saturday reported a 27 per cent yearonyear YoY decline in its net profit at Rs 3253 crore for the JulySeptember quarter Q2 FY26 The bank had posted a net profit of Rs 3344 crore in the same period last yearDespite the marginal dip in profit the banks net interest income NII rose 4 per cent onyear to Rs 7311 crore from Rs 7020 crore in Q2 FY25 while the net interest margin NIM stood at a healthy 454 per centThe lenders advances book expanded 16 per cent onyear to Rs 462688 crore as of September 30 from Rs 399522 crore a year earlier reflecting robust credit demandOn the liabilities side average total deposits grew 14 per cent onyear to Rs 510538 crore compared with Rs 446110 crore in Q2 FY25 Average current deposits also rose 14 per cent to Rs 70220 crore from Rs 61853 crore in the corresponding quarter last yearAsset quality saw further improvement with the gross nonperforming assets GNPA ratio declining to 139 per cent as of September 30 2025 from 149 per cent a year agoThe Net NPA NNPA ratio also improved to 032 per cent from 043 per cent in the same period The banks Provision Coverage Ratio PCR remained strong at 77 per centAccording to its exchange filing CASA ratio as at September 30 stood at 423 per cent and Credit to Deposit ratio stood at 875 per cent Standalone Return on Assets ROA for Q2 FY26 annualised was 188 percent while Return on Equity ROE was 1038 percent on an annualised term IANS https://dailyworld.in/business/kotak-mahindra-banks-q2-net-profit-dips-27-pc-to-rs-3-253-crore-644867.html Sat, 25 Oct 2025 17:20:00 +0530 https://dailyworld.in/business/centre-harmonises-customs-exemption-framework-to-boost-ease-of-doing-biz-effective-from-nov-1-644876.html New Delhi Oct 25 The government has issued a new notification towards bringing a major reform in the customs exemption framework towards ease of doing business The new notification by Ministry of Finance Department of Revenue rationalises and harmonises existing customs duty exemptions across various sectors The Central Board of Indirect Taxes and Customs CBIC has consolidated 31 separate Customs Duty notifications into a single comprehensive document The sectors covered include renewable energy metals fertilisers agriculture pharmaceuticals electronic components etcEffective from November 1 2025 the notification consolidates a wide range of legacy notifications into a single unified structure while providing conditional exemptions on customs duties Integrated GST and compensation cess where applicableThe Notification No 442025Customs dated 24th October 2025 amends several existing Customs notifications in the public interest The new consolidated notification effectively merges all relevant exemptions and procedural details into a single framework thus eliminating redundancy while preserving the substance of existing benefitsThe amendments affect key notifications governing customs exemptions and procedural frameworks including Notification Nos 112018Customs 82020Customs 112021Customs and 522017Customs The current changes bolster the governments effort to harmonise customs provisions with ongoing budgetary and policy adjustments under the Integrated and Goods and Services Tax framework Earlier this month the CBIC introduced systembased autoapproval for IFSC code registration to enhance the ease of doing businessThe system will automatically approve requests for registration of the same incentive bank account and IFSC code for a particular Importer Exporter Code IEC at multiple Customs locations provided the same combination has already been approved at any one location The move comes as part of the CBICs initiatives to leverage technology to simplify procedures reduce transaction costs and enhance the ease of doing business for Indias trade community the statement added IANS https://dailyworld.in/business/centre-harmonises-customs-exemption-framework-to-boost-ease-of-doing-biz-effective-from-nov-1-644876.html Sat, 25 Oct 2025 17:28:00 +0530 https://dailyworld.in/business/seshasayee-paper-q2-net-profit-falls-21-pc-to-rs-224-crore-644889.html Mumbai Oct 25 Seshasayee Paper and Boards Ltd reported a 213 per cent yearonyear YoY decline in consolidated net profit for the second quarter of FY26 as per a regulatory filing on Saturday The companys net profit stood at Rs 224 crore down from Rs 285 crore in the corresponding quarter of the previous yearMeanwhile Revenue from operations also fell 131 per cent to Rs 3463 crore compared to Rs 3985 crore in the same period last yearEarnings before interest tax depreciation and amortisation EBITDA came in at Rs 263 crore a 144 per cent decrease from Rs 307 crore a year earlierThe EBITDA margin for the quarter stood at 76 per cent marginally lower than 77 per cent in the yearago quarterDuring the quarter the company invested Rs 26 crore in a special purpose vehicle SPV to acquire a 261 per cent equity stake in line with the terms of its investment agreementSeshasayee Paper and Boards Ltd is a leading manufacturer of writing and printing paperMeanwhile Seshasayee Paper and Boards shares closed slightly higher on Friday ahead of the Q2 result announcement The scrip ended the session at Rs 2560 up 020 per cent In the last five days the stock jumped nearly 15 per cent however in the last 30 days it remained flat This year till date the stock has plunged over 18 per cent and in a year the shares of the company fell 14 per centSeshasayee Paper and Boards Limited SPB the flagship company of the SPBESVIN Group owns and operates an integrated pulp paper and paperboard mill at Pallipalayam in Erode Tamil Nadu and another paper mill in Tirunelveli District Tamil NaduIncorporated in June 1960 SPB was promoted in association with its foreign collaborator Ms Parsons and Whittemore USA IANS https://dailyworld.in/business/seshasayee-paper-q2-net-profit-falls-21-pc-to-rs-224-crore-644889.html Sat, 25 Oct 2025 18:25:00 +0530 https://dailyworld.in/business/mini-ratna-hll-lifecare-pays-rs-695-crore-dividend-to-government-644902.html New Delhi Oct 25 Miniratna company HLL Lifecare Limited under the Ministry of Health and Family Welfare on Saturday paid a record dividend of Rs 6953 crore to the government for the financial year 202425 The dividend cheque was presented to Health Minister JP Nadda by Dr Anitha Thampi Chairperson HLL in the presence of Anupriya Patel Minister of State for Health and Family Welfare and other senior officialsNadda asserted that HLL is a reliable name in the field of medical services and is committed towards the national vision of accessible affordable and quality healthcare to allHLL along with its subsidiaries and Amrit pharmacies have emerged as a key player in transforming the health sectorIn the last 10 years over 67 crore people have benefited through the affordable medicines of the Amrit Pharmacies thereby saving more than Rs 8000 crore in terms of their outofpocket expenditure the minister informedThe financial year 202425 witnessed comprehensive growth across both HLLs manufacturing and service portfoliosRevenue from operations increased to Rs 4500 crore reflecting a 20 per cent growth over the previous year The companys net worth rose significantly to Rs 1100 crore as on March 31 2025On a consolidated basis including its subsidiaries HITES GAPL and Lifespring Hospitals the HLL Group recorded a total revenue of Rs 4900 crore marking a 19 per cent growth over the previous fiscalEstablished in 1966 HLL Lifecare Limited has evolved from addressing Indias population control challenges to becoming a multiproduct multiservice healthcare enterprise playing a pivotal role in the nations health sector transformationThrough initiatives such as AMRIT Pharmacies the company continues to make essential medicines and surgical products affordable thereby reducing outofpocket expenses for patients across the country IANS https://dailyworld.in/business/mini-ratna-hll-lifecare-pays-rs-695-crore-dividend-to-government-644902.html Sat, 25 Oct 2025 19:27:00 +0530 https://dailyworld.in/business/bhashini-bharatgen-adi-vaani-positioning-india-as-global-leader-in-multilingual-innovation-644904.html New Delhi Oct 25 India is emerging as a global leader in multilingual innovation with platforms such as Bhashini BharatGen and AdiVaani the government said on Saturday Indias linguistic landscape is among the most diverse in the world with 22 Scheduled Languages and hundreds of tribal and regional dialects spoken across its vast geographyTo preserve its rich linguistic heritage the government is leveraging advanced technologies such as Artificial Intelligence AI Natural Language Processing NLP machine learning and speech recognition to build intelligent scalable language solutionsThe key platforms driving linguistic inclusion include Bhashini and BharatGen which offer multilingual support while AdiVaani aims to bring tribal languages into the digital foldIndias future in language preservation is powered by cuttingedge technology integrating AI and digital archives to keep its rich linguistic heritage vibrant and accessible Platforms like Bhashini BharatGen and AdiVaani along with targeted initiatives such as SPPEL and TRIECE empower citizens nationwide to engage with services in their native languages the government said in an official statementThis comprehensive approach not only safeguards Indias cultural diversity but also drives inclusive digital growth positioning the country as a global leader in multilingual innovation it addedSPPEL or the Scheme for Protection and Preservation of Endangered Languages focuses on documenting and digitally archiving endangered Indian languages particularly those spoken by fewer than 10000 peopleThe Tribal Research Information Education Communication and Events TRIECE scheme supports innovative research and documentation projects aimed at preserving tribal languages and culturesThese initiatives enable seamless communication realtime translation voiceenabled interfaces and localised content deliveryBy building a robust technological ecosystem that respects linguistic diversity India is setting the foundation for an inclusive digital future where every citizen regardless of their mother tongue can participate fully in the digital economy and governance the statement said IANS https://dailyworld.in/business/bhashini-bharatgen-adi-vaani-positioning-india-as-global-leader-in-multilingual-innovation-644904.html Sat, 25 Oct 2025 19:29:00 +0530 https://dailyworld.in/business/air-india-to-move-60-daily-domestic-flights-to-terminal-2-at-delhi-airport-644907.html New Delhi Oct 25 Air India on Saturday said that its 60 daily domestic flights at Delhis Indira Gandhi International Airport will move from Terminal 3 T3 to Terminal 2 T2 starting October 26 The airline said that only some domestic flights will operate from T2 not allAir India is moving 60 of its daily domestic flights at Delhi to T2 and 120 other daily domestic flights at Delhi will continue to operate from T3 All international flights will continue to operate from T3This is happening due to the ongoing terminal enlargement activities at T3 by Delhi International Airport Ltd DIAL to augment international passenger capacity the airline said in a statementAir India flights moving to T2 have been renumbered to AI1XXXIf the domestic flight number has four digits and begins with 1 then it departs from or arrives at Delhi T2 for example AI1737 If the flight number does not follow this format it will operate from T3 the airline informedFree airport shuttle buses run every 20 minutes between T1 T2 and T3 and passengers with reduced mobility can easily take buggy rides between T2 and T3Meanwhile IndiGo will also resume operations from Terminal 2 of Delhis Indira Gandhi International Airport starting October 26 after a temporary shift earlier this year due to maintenance work The airline will now operate flights from all three terminals T1 T2 and T3 with a revised distribution of flight numbers to help improve airport efficiency and passenger convenienceUnder the new plan all IndiGo flights numbered 6E 2000 to 6E 2999 will operate to and from Terminal 2 which is reopening for IndiGo services Flights numbered 6E 5000 to 6E 5999 as well as all international flights will depart from and arrive at Terminal 3 All other domestic IndiGo flights will continue to operate from Terminal 1 the airline saidCivil Aviation Minister K Rammohan Naidu on Saturday inaugurated the renovated Terminal 2 at Delhis Indira Gandhi International Airport IGIA IANS https://dailyworld.in/business/air-india-to-move-60-daily-domestic-flights-to-terminal-2-at-delhi-airport-644907.html Sat, 25 Oct 2025 19:30:00 +0530 https://dailyworld.in/business/rajasthan-37-251-domestic-electricity-connections-issued-in-20-days-644935.html Jaipur Oct 25 In line with the vision of Chief Minister Bhajan Lal Sharma Rajasthans Discoms delivering on the promise of quality accessible and consumercentric electricity services have made significant strides in improving service delivery and introducing innovations that ensure accountability and transparency Ahead of Diwali 2025 the Discoms conducted a special campaign that successfully issued 37251 domestic electricity connections across the stateFurthering consumer engagement Jaipur Discom has launched a Star Rating feedback system to strengthen service quality through direct consumer input The campaign focused on clearing pending cases and providing new connections efficiently The Discoms expedited all necessary processes including document verification site inspection and demand note issuance while ensuring the timely availability of line materials at storage branches As a result Jaipur Discom issued 17373 connections Ajmer Discom issued 15433 connections and Jodhpur Discom issued 4445 connections This achievement highlights the governments proactive approach to ensuring timely access to electricity for every householdTo enhance accountability and monitor service quality Jaipur Discom has developed an independent feedback system for consumers receiving new connections Once a domestic connection is activated the consumer receives an SMS link to download the Bijli Mitra mobile app Upon entering the K number users can rate their experience from 1 to 5 stars via a feedback popup These ratings will be reviewed monthly at the circle and subdivision levels with Superintending Engineer and Assistant Engineer offices ranked based on performanceThe initiative enables continuous improvement in service delivery and better monitoring of fieldlevel officers and staff said officials In addition to appbased feedback Jaipur Discom has also been collecting consumer opinions through its helpline 181 Between April 1 and August 15 2025 calls were made to 75746 consumers who recently received connections gathering valuable insights to refine service procedures and enhance consumer satisfaction IANS https://dailyworld.in/business/rajasthan-37-251-domestic-electricity-connections-issued-in-20-days-644935.html Sat, 25 Oct 2025 20:30:00 +0530 https://dailyworld.in/business/ontario-premier-says-it-will-pause-ronald-reagan-ad-campaign-criticising-us-tariffs-next-week-644815.html Ottawa Oct 25 Ontario Premier Doug Ford said the advertisement campaign criticising US tariffs would pause on Monday so that trade talks can resume between the two countries The advertisements were released last week by the government of Canadas Ontario province and were running in the USOn Friday US President Donald Trump said he was ending trade talks with Canada in responseOur intention was always to initiate a conversation about the kind of economy that Americans want to build and the impact of tariffs on workers and businesses Ford said on Friday on XWeve achieved our goal having reached US audiences at the highest levels Ive directed my team to keep putting our message in front of Americans over the weekend so that we can air our commercial during the first two World Series gamesFord said he made the decision to end the ads after speaking with Canadian Prime Minister Mark CarneyThe ads featured featured audio from a speech by former US President Ronald Reagan where he lambasted tariffs as hurting every American worker and consumer and triggering fierce trade warsThe Ronald Reagan Foundation later claimed it misrepresents the speech and that the Ontario government had not asked permission to use the clipCarney told reporters earlier on Friday that Canada is prepared to resume trade talks with the US when the Americans are readyTrump criticised the ad late on Thursday night in a Truth Social post calling it FAKE and egregiousHe said trade talks were HEREBY TERMINATEDCanada is still the only G7 country that has not reached a trade deal with Trump since he began introducing sweeping tariffsThe US has imposed a 35 per cent levy on all Canadian goods though most are exempt under an existing free trade agreementIt has also slapped sectorspecific levies on Canadian goods including a 50 per cent levy on metals and 25 per cent on automobilesThose sector tariffs have especially hurt Ontario where the bulk of Canadas auto manufacturing industry is basedIt is unclear if trade talks will indeed resume now that Ford has pulled the ad and President Trump is yet to respond to the announcement it will stop runningThe White House on Friday signalled frustration with what it called Canadas longstanding unfair trade barriers and added that efforts to address these issues have not led to any constructive progressCarney has made some appeasements to keep talks going including removing retaliatory tariffs and dropping Canadas digital services tax But he has repeatedly said that he is searching for the best deal for CanadaBoth Trump and Carney are heading to Asia on Friday for the ASEAN Summit in Kuala LumpurThe Canadian Prime Minister told reporters that the focus of his trip would be developing new partnerships and opportunities including with the economic giants of Asia IANS https://dailyworld.in/business/ontario-premier-says-it-will-pause-ronald-reagan-ad-campaign-criticising-us-tariffs-next-week-644815.html Sat, 25 Oct 2025 05:04:00 +0530 https://dailyworld.in/business/gold-records-first-weekly-loss-after-nine-week-surge-644842.html New Delhi Oct 24 Gold ended a nineweek winning streak this week with a sharp correction as the market reassessed a rally that had pushed prices into overbought territory The price of 24carat gold 10 grams ended at Rs 122419 on Friday down from Rs 123827 from its previous close according to data published by the India Bullion and Jewellers Association IBJASpot gold fell 03 per cent to close at 411305 an ounce in New York resulting in a weekly loss of approximately 33 per centThe price for 10 grams of bullion closed last week at Rs 130874 and the price had been declining throughout the week Analysts said that the pullback was sharp but the yellow metal pared losses on Friday due to a weakerthanexpected US inflation report which bolstered expectations for further monetary easing by the Federal ReserveThis development also led to a slight decline in bond yields and an increase in bullion prices Traders anticipate two rate cuts before yearend a scenario that bolstered gold pricesInvestors also assessed the potential for improved USChina relations as US President Donald Trump and his Chinese counterpart Xi Jinping prepare for their upcoming meeting There are forecasts that a deescalation of trade tensions may lessen demand for safehaven assets like goldA recent correction occurred after a strong rally that started in midAugust which saw prices reach an alltime high of 438152 an ounce on Monday Profittaking and significant outflows from goldbacked ETFs intensified the selling pressureGold is up by 57 per cent this year driven by centralbank purchases dovish signals from the US Federal Reserve and strong ETF inflowsEarlier this week a Ventura Securities report said that gold has generated returns of approximately 63 per cent in rupee terms since last Dhanteras and a possible rally towards Rs15 lakh per 10 grams is possible by 2026 IANS https://dailyworld.in/business/gold-records-first-weekly-loss-after-nine-week-surge-644842.html Sat, 25 Oct 2025 16:47:00 +0530 https://dailyworld.in/business/lic-rebuts-washington-post-report-as-false-baseless-far-from-truth-644852.html New Delhi Oct 25 The Life Insurance Corporation of India LIC on Saturday denied false reports by The Washington Post reaffirming all investments are made with integrity and due diligence In a rebuttal to the article LIC said the allegations leveled by The Washington Post that the investment decisions of LIC are influenced by external factors are false baseless and far from truthNo such document or plan as alleged in the article has ever been prepared by LIC which creates a road map for infusing funds by LIC into Adani group of companies the company said in a statementThe article had claimed that officials allegedly fasttracked a proposal in May this year to direct approximately 39 billion in investments from the LIC to an Adani group firmLIC said that the investment decisions are taken independently as per Board approved policies after detailed due diligenceDepartment of Financial Services or any other body does not have any role in such decisions LIC has ensured highest standards of due diligence and all its investment decisions have been undertaken in compliance with extant policies provisions in the Acts and regulatory guidelines in the best interest of all its stakeholders it further stated in the statementLIC said that these purported statements in the article appear to have been made with the intentions to prejudice the well settled decisionmaking process of LIC and also to tarnish the reputation and image of LIC and the strong financial sector foundations in IndiaLIC the countrys largest life insurer reported a 391 per cent yearonyear YoY increase in its consolidated net profit for the June quarter of the current financial year Q1 FY26The profit rose to Rs 10957 crore from Rs 10544 crore recorded in the same period previous year Q1 FY25 according to its stock exchange filing IANS https://dailyworld.in/business/lic-rebuts-washington-post-report-as-false-baseless-far-from-truth-644852.html Sat, 25 Oct 2025 16:57:00 +0530 https://dailyworld.in/business/govt-recognises-two-more-coes-to-promote-rampd-in-critical-mineral-value-chain-644856.html New Delhi Oct 25 The Ministry of Mines has recognised two more institutes namely Indian Institute of Science IISc Bangalore and Centre for Materials for Electronics Technology CMET Hyderabad as Centres of Excellence under the National Critical Mineral Mission the government informed on Saturday The Centres of Excellence CoEs will conduct innovative research and development to elevate technology readiness to pilotplant and precommercial demonstration levels TRL 78 for for critical minerals supporting clean energy mobility transition electronics defence and space sectors Ministry of Mines saidThe initiative aims to consolidate core competencies to develop technologies for secure supply chains of critical mineralsSeven institutes were already recognised as CoEs and the new approvals increased the total to nine CoEs the Ministry saidThe CoEs will undertake innovative and transformational research to strengthen and advance the nations science and technology capability in the area of critical minerals the Ministry saidEach CoE will operate as a consortium on a hubandspoke model to leverage RampD in critical minerals and pool the core competence of each constituent under one umbrellaThey require the inclusion of at least two industry partners and two RampD or academic partners in their networkThe nine recognised CoEs have together brought in around 90 industry and academic or RampD spokes according to the ministryAs part of the National Critical Mineral Mission the Centre had earlier this month opened the application window for the Rs 1500 crore Critical Mineral Recycling Incentive SchemeThe scheme aims to enhance industry capacity for recycling critical minerals from ewaste spent lithiumion batteries and other scraps such as catalytic converters in endoflife vehiclesIncentives for large recyclers are set at Rs 50 crore while small recyclers will receive up to Rs 25 crore IANS https://dailyworld.in/business/govt-recognises-two-more-coes-to-promote-rampd-in-critical-mineral-value-chain-644856.html Sat, 25 Oct 2025 17:03:00 +0530 https://dailyworld.in/business/reliance-meta-units-form-jv-to-distribute-enterprise-ai-in-india-644857.html Mumbai Oct 25 Reliance Industries on Saturday announced that its subsidiary Reliance Intelligence Ltd has established a joint venture with US tech giant Metas subsidiary to market and distribute enterprise AI in India A new company namely Reliance Enterprise Intelligence Limited REIL has been formed as a joint venture with Facebook Overseas Inc according to an exchange filingThe Mukesh Ambani and Mark Zuckerbergled companies have committed an initial combined investment of around Rs 855 crore in the unit aimed at developing marketing and distributing enterprise AI servicesReliance Intelligence will own 70 per cent of REIL while Facebook Overseas Inc a unit of Meta Platforms will hold 30 per cent the filing saidThe partnership will provide an enterprise AI platformasaservice enabling organisations to customise and deploy generative models along with a suite of preconfigured solutions for industries including sales marketing IT operations customer service and financeRILs AI arm will invest Rs 2 crore towards the initial subscription of 20 million equity shares of Rs 10 eachThe transaction does not fall within related party transaction and none of the companys promoter or promoter group or group companies have any interest in the above transaction the filing saidNo governmental or regulatory approvals were required for incorporation of REIL it addedReliance announced a joint venture in August that will use Metas opensource Llama models combined with Reliances enterprise reach to offer AI tools across sectorsMeta will provide technical expertise for Llamabased models while Reliance will leverage its digital infrastructure and access to thousands of Indian enterprises and small businessesSolutions will be deployable on the cloud onpremises and hybrid environments focusing on reducing the total cost of ownership IANS https://dailyworld.in/business/reliance-meta-units-form-jv-to-distribute-enterprise-ai-in-india-644857.html Sat, 25 Oct 2025 17:05:00 +0530 https://dailyworld.in/business/reliance-meta-announce-new-rs-855-crore-ai-joint-venture-in-india-644858.html Mumbai Oct 25 Reliance Industries on Saturday announced that its subsidiary Reliance Intelligence Ltd has established a joint venture with US tech giant Metas subsidiary to market and distribute enterprise AI in India A new company namely Reliance Enterprise Intelligence Limited REIL has been formed as a joint venture with Facebook Overseas Inc according to an exchange filingThe Mukesh Ambani and Mark Zuckerbergled companies have committed an initial combined investment of around Rs 855 crore in the unit aimed at developing marketing and distributing enterprise AI servicesReliance Intelligence will own 70 per cent of REIL while Facebook Overseas Inc a unit of Meta Platforms will hold 30 per cent the filing saidThe partnership will provide an enterprise AI platformasaservice enabling organisations to customise and deploy generative models along with a suite of preconfigured solutions for industries including sales marketing IT operations customer service and financeRILs AI arm will invest Rs 2 crore towards the initial subscription of 20 million equity shares of Rs 10 eachThe transaction does not fall within related party transaction and none of the companys promoter or promoter group or group companies have any interest in the above transaction the filing saidNo governmental or regulatory approvals were required for incorporation of REIL it addedReliance announced a joint venture in August that will use Metas opensource Llama models combined with Reliances enterprise reach to offer AI tools across sectorsMeta will provide technical expertise for Llamabased models while Reliance will leverage its digital infrastructure and access to thousands of Indian enterprises and small businessesSolutions will be deployable on the cloud onpremises and hybrid environments focusing on reducing the total cost of ownership IANS https://dailyworld.in/business/reliance-meta-announce-new-rs-855-crore-ai-joint-venture-in-india-644858.html Sat, 25 Oct 2025 17:06:00 +0530 https://dailyworld.in/business/rbi-proposes-to-allow-banks-to-finance-corporate-acquisitions-with-stricter-safeguards-644860.html Mumbai Oct 25 The Reserve Bank of India RBI has proposed to permit banks to extend loans to Indian companies for acquiring full or controlling stakes in domestic or overseas firms as part of strategic investments aimed at creating longterm value Only listed companies with a satisfactory net worth and a profitable track record over the last three years will be eligible for such financing under the draft normsUp to 70 per cent of the acquisition cost may be financed by banks with the remaining 30 per cent having to come from the acquiring companys own equity contributionAccording to the proposal either the acquiring company or a stepdown special purpose vehicle SPV created specifically for the acquisition can receive the fundingA thorough policy framework on acquisition finance including borrower eligibility security margins risk management and monitoring procedures has also been required by the central bankThe draft stipulates that the SPV and the acquiring company must be body corporates rather than financial intermediaries like alternative investment funds AIFs or nonbanking financial companies NBFCsAdditionally there must be no familial ties between the target and acquirer entitiesAs required by the Securities and Exchange Board of India SEBI two independent valuations must be performed in order to ascertain the target companys acquisition valueBanks must evaluate credit risk based on the target companys and the acquirers combined balance sheetsThe central bank released this draft circular outlining the proposal which aims to increase the reach of acquisition financing while maintaining responsible lending practicesBanks are currently only allowed to participate in a small number of these transactionsBefore finalising the guidelines the RBI asked stakeholders for their input on the draft IANS https://dailyworld.in/business/rbi-proposes-to-allow-banks-to-finance-corporate-acquisitions-with-stricter-safeguards-644860.html Sat, 25 Oct 2025 17:07:00 +0530 https://dailyworld.in/business/broader-indices-outshine-benchmarks-this-week-16-smallcaps-gain-over-15-pc-644863.html New Delhi Oct 25 The broadcap indices outperformed major benchmarks in the volatile festivaltruncated week as the BSE Midcap and Smallcap indices rose by 05 per cent and 1 per cent Broadcap indices or broad market indices are benchmarks that track the performance of a wide range of companies to represent the overall financial market or a significant segment of itThe surge was driven by foreign institutional inflows and largely positive Q2 earnings according to analystsAs many as 41 smallcap stocks gained between 10 and 36 per cent during the week and nearly 16 smallcap stocks logged returns above 15 per centDuring the week the BSE Sensex rose 030 per cent or 259 points and closed at 84211 The Nifty50 rose 033 per cent or 853 points and closed at 25795 Both indices have however gained nearly 5 per cent in OctoberAnalysts anticipated shortterm volatility identifying resistance at 25850 and immediate support at the 25600 to 25500 zoneForeign institutional investors FIIs became net buyers this week buying equities valued at Rs 34274 crore while domestic institutional investors DIIs maintained a 27week buying streak with net purchases totalling Rs 5945 croreAs of October FIIs have sold a net total of Rs 24402 crore while DIIs purchased a net of Rs 3398976 crore according to latest dataAmong sectors the Nifty IT index gained 3 per cent the PSU Bank added 2 per cent the Nifty Metal index gained 15 per cent the Nifty Media index was up 13 per cent and the Nifty Oil amp Gas index was up 1 per cent Conversely the FMCG and auto sectors declined by approximately 05 per cent eachAnalysts reported that the week started with festive optimism but momentum slowed due to geopolitical tensions and profittaking despite record festive sales indicating strong consumer demandLooking ahead investors are keen on IndiaUS trade negotiations and key interest rate decisions from the US Federal Reserve and European Central Bank IANS https://dailyworld.in/business/broader-indices-outshine-benchmarks-this-week-16-smallcaps-gain-over-15-pc-644863.html Sat, 25 Oct 2025 17:13:00 +0530 https://dailyworld.in/business/mid-cap-sips-deliver-174-pc-xirr-in-10-years-outperform-peers-report-644608.html New Delhi Oct 23 Midcap equity is the most favourable choice of segment for longterm Systematic Investment Plans SIP as it demonstrated a high likelihood of providing 8 to 10 per cent returns over longer time frames a report said on Thursday A 10year monthly rolling return study of largecap midcap and smallcap SIP investments demonstrated strong and consistent returns in midcap investments a report from asset management firm WhiteOak Capital saidThe Nifty Midcap 150 TRI delivered strong and consistent performance with average and median returns of 174 per cent and 179 per cent respectivelyThe index recorded 100 per cent positive outcomes over 10 years with returns exceeding 10 per cent in 98 per cent of cases It also gave above 12 per cent returns in 95 per cent of cases and above 15 per cent in 79 per cent of periods the report saidThe report claimed that an investor starting a SIP in the midcap index and annually switching to the previous years topperforming index would achieve an XIRR Extended Internal Rate of Return of 1524 per cent by September 30 2025 In contrast remaining invested in the midcap index would yield an XIRR of 1730 per cent over the same timeframeWhiteOak reported that over a 10year period the continued midcap approach averaged a 1743 per cent XIRR compared to 1562 per cent for the switching strategy the asset management firm saidWhiteOak Capital mentioned that largecap stocks generally exhibit lower volatility and provide portfolio stability but midcap stocks outperformed peers in terms of returns over different time periodsThe analysis by the asset management firm found that SIP frequency daily weekly or monthly had little longterm impact on the returnsThe key takeaway from the analysis is to focus on investing a small amount regularly for the long term it noted IANS https://dailyworld.in/business/mid-cap-sips-deliver-174-pc-xirr-in-10-years-outperform-peers-report-644608.html Fri, 24 Oct 2025 00:30:00 +0530 https://dailyworld.in/business/indias-effective-office-rents-up-38-pc-yoy-in-q2cy25-report-644609.html New Delhi Oct 23 The effective rents for Grade A and A office space in India rose by 38 per cent year on year in the second quarter of 2025 a report said on Thursday Mumbai emerged as the topper in Indias city ranking with the highest quarterly rental growth of 36 per cent QoQ according to the quarterly Commercial Property Rental Index from the Indian Institute of Management Bangalore and CRE MatrixGurugram and Delhi emerged as the other strongest markets across Indias major citiesDelhi leads in annual growth with rents soaring 164 per cent YoY reflecting the premium commanded by scarce highquality office assets in the city the report saidGurugram recorded a 32 per cent increase quarteroverquarter and an 81 per cent rise over the last 12 months Navi Mumbai recorded the highest threeyear compound annual growth rate at 9 per cent making it Indias most resilient postCOVID office market the report saidChennais northern suburbs led the quarterly growth at 98 per cent while Bengalurus Whitefield grew by 8 per cent quarteronquarter maintaining the highest rental index value at 243Abhishek Kiran Gupta CEO and Cofounder CRE Matrix said that Bengalurus Whitefield and Chennais northern suburbs sharp quarterly uptick proves that tenant demand is spreading beyond the traditional CBDsOver the past five years the Central Business District of Navi Mumbai posted an exceptional 96 per cent CAGR the institute notedWe hope CPRI will become the goto benchmark for not only the landlords and tenants but also investors in REITs said Prof Venkatesh Panchapagesan Chairperson Real Estate Research Initiative RERI and faculty of the Finance amp Accounting area IIMBUnlike conventional pricebased indices that rely on headline rents the IIMBCRE Matrix CPRI focuses on effective rents which adjust for variations in lease terms such as rentfree periods abnormal security deposits free car parks and escalation clauses the report said IANS https://dailyworld.in/business/indias-effective-office-rents-up-38-pc-yoy-in-q2cy25-report-644609.html Fri, 24 Oct 2025 00:30:00 +0530 https://dailyworld.in/business/digital-payments-make-up-998-pc-of-all-transactions-in-h1-2025-rbi-644615.html New Delhi Oct 23 Indias digital payments landscape continues its rapid expansion with digital transactions accounting for 998 per cent of the total payment volume and 977 per cent of the total transaction value in the first half of 2025 H1 2025 according to data released by the Reserve Bank of India RBI Unified Payments Interface UPI continues to dominate the digital ecosystem accounting for 85 per cent of transactions by volume and 9 per cent by value in the first six months of the yearDuring this time the UPI system handled 10637 crore transactions valued at Rs 1433 lakh crore compared to Rs 117 lakh crore in the previous year According to the RBI UPIs effectiveness roundtheclock accessibility and userfriendliness continue to make it the most popular retail fast payment system in IndiaOn the other hand although it only made up 01 per cent of the total volume the Real Time Gross Settlement RTGS system which facilitates highvalue transfers held the largest share in terms of value at 69 per cent In 2024 there were 295 crore RTGS transactions up from 148 crore in 2019 and the transaction value increased from Rs 13887 lakh crore to Rs 19382 lakh croreRTGS handled 161 crore transactions totalling Rs 10792 lakh crore in the first half of 2025 aloneThe RBI explained the divergent trends in volume and value shares by pointing out that RTGS mainly handles largevalue transfers with a minimum transaction threshold of Rs 2 lakh whereas UPI processes a large number of smallvalue transactions Of the Rs 1572 lakh crore in total payment transactions that took place during that time Rs 1536 lakh crore were handled digitallyThe Clearing Corporation of India Limiteds CCIL largevalue payment systems saw growth as well The number of CCIL transactions increased from 35 lakh in 2019 to 45 lakh in 2024 and their value increased from Rs 1270 lakh crore to Rs 2780 lakh crore CCIL recorded 288 lakh transactions totalling Rs 1734 lakh crore in the first half of 2025The RBI data demonstrates how UPI and other innovations along with persistent efforts to encourage cashless transactions throughout the economy have led to Indias payments ecosystem becoming overwhelmingly digital IANS https://dailyworld.in/business/digital-payments-make-up-998-pc-of-all-transactions-in-h1-2025-rbi-644615.html Fri, 24 Oct 2025 00:33:00 +0530 https://dailyworld.in/business/deloitte-raises-indias-gdp-growth-forecast-to-68-pc-for-2025-26-644625.html New Delhi Oct 23 Deloitte India on Thursday raised its forecast for Indias GDP growth by 03 percentage points to 68 per cent for the financial year 202526 amid buoyant demand and policy reforms undertaken by the government The increase in the growth forecast comes on the back of a robust 78 per cent growth posted by the Indian economy in the first quarter of the current fiscal yearThis performance signals not just resilience but a renewed sense of India emerging stronger than most nations Similar growth rates are expected in the subsequent year but the range of variation remains broader due to uncertainties associated with trade and investment Deloittes India Economic Outlook report statesGrowth is likely to be supported by buoyant domestic demand accommodative monetary policy and structural reforms such as GST 20 Low inflation is also expected to contribute to spending as purchasing power improves the report addedThe increase in Deloittes growth forecast comes close on the heels of the RBI raising its projection for Indias economic growth to 68 per centDeloitte India Economist Rumki Majumdar said demand during the festive quarter will likely be fuelled by a notable rise in consumption spending This is expected to be followed by strong private investment as businesses respond to uncertainties and prepare to meet elevated demandThere is also anticipation that India will strike a deal with the US and the EU by the end of the year which is expected to elevate overall investment sentiments Strong growth in the first and third quarters is likely to drive overall annual growth Majumdar observedA strong rural consumer confidence index above 100 indicates optimism in rural demand and improved crop output will support farm income in the coming months the report further statedHowever growth in the current fiscal year remains vulnerable to global headwinds Escalating trade uncertainties and Indias inability to secure a trade deal with the United States are potential risks that could impact Indias economic growth the report added IANS https://dailyworld.in/business/deloitte-raises-indias-gdp-growth-forecast-to-68-pc-for-2025-26-644625.html Fri, 24 Oct 2025 00:46:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-amid-us-china-trade-tension-644664.html Mumbai Oct 24 Indian stock markets opened lower on Friday amid reports that the United States may launch a fresh investigation into China over their 2020 trade deal Rising oil prices driven by new US sanctions against Russia also weighed on investor sentimentAt the opening bell the Sensex was down 113 points or 013 per cent at 84443 while the Nifty slipped 27 points or 010 per cent to 25866Commenting on Niftys technical outlook analysts said The index continues to exhibit a sideways to bullish bias holding firmly above key support levels at 25700 and 25750Immediate resistance is placed at 25950 with further upside targets at 26000 and 26100 The overall trend remains bullish provided the index sustains above 25780 on a closing basis they addedHeavyweights such as Hindustan Unilever Kotak Bank Axis Bank Titan Power Grid ITC NTPC Tech Mahindra Maruti Suzuki and Axis Bank were among the top laggards losing up to 35 per centOn the other hand ICICI Bank Tata Steel Bharat Electronics BEL Mahindra amp Mahindra Bharti Airtel HDFC Bank and State Bank of India were trading in the green helping limit the overall lossesIn the broader markets buying activity continued as the Nifty MidCap index inched up 005 per cent and the Nifty SmallCap index added 009 per centSectorwise metal stocks were the top performers with the Nifty Metal index rising 1 per cent followed by modest gains in the Realty and Financial Services indicesHowever FMCG stocks faced pressure with the Nifty FMCG index falling 14 per cent making it the biggest sectoral loser of the dayGiven the current setup of heightened volatility and mixed market signals traders are advised to adopt a cautious buyondips approach especially when using leverage market analysts saidBooking partial profits during rallies and maintaining tight trailing stoplosses will be key to managing risk effectively as per the analysts IANS https://dailyworld.in/business/sensex-nifty-open-lower-amid-us-china-trade-tension-644664.html Fri, 24 Oct 2025 17:38:00 +0530 https://dailyworld.in/business/seoul-shares-sharply-up-head-for-another-record-644668.html Seoul Oct 24 South Korean stocks extended gains late Friday morning to head toward setting another record high after days of record rallies as easing tensions between the United States and China boosted hopes for a trade deal The benchmark Korea Composite Stock Price Index KOSPI had gained 7795 points or 203 per cent to 392351 during early trade reports Yonhap news agencyThe index had opened higher as a planned meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the sidelines of the upcoming AsiaPacific Economic Cooperation meeting raised hopes of easing trade tensionsLargecap shares traded higher with tech shares leading the gain Among heavyweights chip giant Samsung Electronics increased 249 per cent and rival SK hynix jumped 617 per centLeading battery maker LG Energy Solution went up 492 per cent Among decliners defence giant Hanwha Aerospace went down 181 per centThe local currency was trading at 14345 won against the greenback up 51 won from the previous sessions closeThe South Korean stocks opened sharply higher Friday led by gains in major technology and financial shares as easing tensions between the United States and China boosted hopes for a trade deal and helped calm recent market jittersAfter a sixday streak of record gains since last Wednesday the KOSPI paused on Thursday as investors locked in profitsMeanwhile South Korea aims to induce 30 trillion won 208 billion in corporate investment by 2030 to develop 40 key technologies in the materials parts and equipment sector essential in the fields of artificial intelligence AI and quantum computing the industry ministry said on ThursdayThrough the envisioned investment the country plans to establish 20 special industrial complexes for materials parts and equipment companies by 2030 including 10 currently in operation according to the Ministry of Trade Industry and ResourcesTo draw corporate investment the government plans to offer various incentives including lowinterest loans subsidies and business consultation services while streamlining regulations related to construction and research and development RampD IANS https://dailyworld.in/business/seoul-shares-sharply-up-head-for-another-record-644668.html Fri, 24 Oct 2025 17:39:00 +0530 https://dailyworld.in/business/gold-silver-prices-drop-ahead-of-key-us-inflation-data-644670.html Mumbai Oct 24 Gold prices fell on Friday morning on the Multi Commodity Exchange MCX as investors awaited key US inflation data due later in the day The MCX Gold December futures were down 044 per cent at Rs 123552 per 10 grams while MCX Silver December contracts declined 098 per cent to Rs 147052 per kilogramExperts said that gold prices were on track to end their nineweek winning streak as heavy selling pressure pulled the yellow metal down from record highsThe drop comes as investors book profits amid stretched valuations renewed optimism over a potential USChina trade deal and a stronger US dollar they addedLooking ahead markets will focus on the release of US CPI data later today updates on the US government shutdown and next weeks meeting between US President Donald Trump and Chinese President Xi Jinping analysts saidEarlier this week gold saw its biggest intraday fall in five years dropping more than 5 per cent in a single sessionDespite the recent correction gold remains up over 50 per cent so far this year supported by global trade tensionsMarket focus has now shifted to the upcoming trade talks between US President Donald Trump and Chinese President Xi Jinping next weekIn the international market spot gold fell 02 per cent to 411868 per ounce at 315 am GMT marking its first weekly decline in ten weeksBullion has dropped about 3 per cent this week heading for its biggest weekly loss since midMayA stronger US dollar also weighed on gold prices making the metal more expensive for holders of other currencies The dollar index rose for the third straight sessionMarket attention is now on the US Consumer Price Index CPI report which is expected to show that core inflation stayed at 31 per cent in SeptemberThe release of this report was delayed earlier due to a temporary government shutdownInvestors are also factoring in a likely 25basispoint interest rate cut by the US Federal Reserve next weekLower interest rates generally boost gold prices as they reduce the opportunity cost of holding the nonyielding asset IANS https://dailyworld.in/business/gold-silver-prices-drop-ahead-of-key-us-inflation-data-644670.html Fri, 24 Oct 2025 17:40:00 +0530 https://dailyworld.in/business/padma-shri-advertising-legend-piyush-pandey-passes-away-pranav-adani-says-devastated-644675.html Mumbai Oct 24 Piyush Pandey a Padma Shri recipient and architect of the Indian advertising passed away at the age of 70 it was announced on Friday Pandey the Executive Chairman and Chief Creative Officer Worldwide of Ogilvy was widely regarded as the architect of modern Indian advertising According to the advertising agency he was battling an infection that took a serious turnTo our entire Ogilvy family It is with an unfathomable sense of loss that I write to you about the passing away of our beloved Piyush Pandey Piyush was battling an infection that took a serious turn He passed away peacefully this morning I cannot even imagine how each one of us is going to process this terrible loss in our own way according to the agency statementPranav Adani Director of Adani Enterprises the Adani Groups business incubator and flagship company mourned Pandeys deathDevastated by the passing of my very dear friend Piyush Pandey the creative genius who shaped Indian advertising into a global powerhouse His ideas were the industrys benchmarks and have inspired generations of storytellers Will sorely miss his warmth and wit Pranav Adani posted on X social media platformPandeys career was a series of iconic campaigns that became cultural phenomenon He helped craft one of Indias most memorable political slogans Ab ki baar Modi sarkarHis ad portfolio includes some of the most memorable advertisements in Indian history like Kuch Khaas Hai Zindagi Mein for Cadbury Dairy Milk featuring the dancing girl Asian Paints Har Ghar Kuch Kehta Hai and the cute ZooZoo characters for VodafonePandey also spearheaded public service campaigns like the Do Boond Zindagi Ke Polio Abhiyaan with Amitabh BachchanHe is survived by his family his colleagues who became his extended family and amazing work that continues to define the heart and soul of Indian advertising IANS https://dailyworld.in/business/padma-shri-advertising-legend-piyush-pandey-passes-away-pranav-adani-says-devastated-644675.html Fri, 24 Oct 2025 17:45:00 +0530 https://dailyworld.in/business/chhath-puja-2025-to-generate-rs-38-000-crore-trade-across-india-cait-644680.html New Delhi Oct 24 The grand festival of Chhath Puja dedicated to worshipping the Sun God is set to give a major boost to the Indian economy with trade worth around Rs 38000 crore expected across the country according to the Confederation of All India Traders CAIT on Friday This marks a sharp rise of 2258 per cent from last years Rs 31000 crore and Rs 27000 crore in 2023 reflecting the festivals growing cultural and economic significanceThe fourday festival celebrated with devotion and grandeur has not only become a symbol of faith and purity but also a driver of local trade and Swadeshi productsCAIT said that around 150 million people are participating in Chhath Puja rituals this year which include fasting bathing and offering prayers to both the setting and rising sunOnce celebrated mainly in Bihar the festival has now become a panIndian event symbolising purity discipline and the deep connection between nature and humanityIn Delhi alone Chhathrelated trade is expected to cross Rs 6000 crore this year The city which has a large Purvanchali population has made elaborate arrangements for devotees setting up around 1500 ghats for ritualsMajor ghats such as Yamuna Ghat Kalindi Kunj Wazirabad and Geeta Colony have been beautifully decorated to welcome lakhs of worshippersThe festival is celebrated with equal fervour in Bihar Jharkhand Uttar Pradesh West Bengal Chhattisgarh Uttarakhand Haryana Maharashtra Madhya Pradesh and other statesAcross India markets are witnessing massive footfall as devotees purchase traditional Chhath essentials such as bamboo baskets sup daura dalia earthen lamps sugarcane fruits sweets sarees utensils and puja materialsCAIT Secretary General and MP from Chandni Chowk Praveen Khandelwal said Chhath Puja is not just a religious festival but also a reflection of Indias social harmony and cultural unityHe added that it supports local traders and smallscale industries strengthening Prime Minister Narendra Modis vision of Vocal for Local and Aatmanirbhar BharatMost of the products used during Chhath Puja are handmade by local artisans boosting the cottage industry and creating employment opportunitiesKhandelwal emphasised that Chhath also promotes cleanliness environmental awareness and selfdiscipline making it one of Indias most holistic and meaningful festivals IANS https://dailyworld.in/business/chhath-puja-2025-to-generate-rs-38-000-crore-trade-across-india-cait-644680.html Fri, 24 Oct 2025 17:48:00 +0530 https://dailyworld.in/business/ministers-industry-leaders-mourn-ad-guru-piyush-pandeys-demise-644684.html New Delhi Oct 24 Union Ministers and industry leaders on Friday expressed their grief over the passing away of ad guru Piyush Pandey Piyush Pandey a Padma Shri recipient and architect of Indian advertising passed away at the age of 70 He was the Executive Chairman and Chief Creative Officer Worldwide of OgilvyAccording to the advertising agency he was battling an infection that took a serious turn His last rites will reportedly be performed at 11 am at Shivaji Park in MumbaiCommerce Minister Piyush Goyal called Pandey a phenomenon in the world of advertisingTruly at a loss for words to express my sadness at the demise of Padma Shri Piyush Pandey A phenomenon in the world of advertising his creative genius redefined storytelling giving us unforgettable and timeless narratives Goyal wrote in a post on the social media platform XThe Minister called Pandey a friend whose brilliance shone through his authenticity warmth and wit who leaves behind a deep void that will be hard to fillMy deepest condolences to his family friends and admirers Om Shanti he addedMinister of Finance Nirmala Sitharaman also expressed sadness at the passing of PandeyCalling him a titan and legend of Indian advertising Sitharaman said he transformed communication by bringing everyday idioms earthy humour and genuine warmth into it His legacy will continue to inspire generationsFormer Odisha Chief Minister Naveen Patnaik called Pandey a doyen of Indian advertisingThe creative colossus was a wonderful storyteller who communicated through metaphors reflecting everyday life and relatable emotions His passing away is the end of an era he added on XPandey was a man who left gigantic footprints on the ad industry said Anand Mahindra Chairman of the Mahindra Group on XMore than the campaigns he Pandey crafted or the brands he built Mahindra noted that the adgurus hearty laugh and his irrepressible zest for life will be the most rememberedHe reminded us that even in the serious business of persuasion joy and humanity must never be forgottenAlwida my friend You made life richer for all of us Mahindra saidShiv SenaUBT MP Priyanka Chaturvedi also expressed grief and called Pandey a communication genius and a truly inspiring personPiyush Pandey wasnt just an ad man he was one of Indias finest storytellers He taught us that emotion is the truest language of creativity His words made brands human and ideas immortal Farewell to a legend who made us feel think and smile added Former Union Minister and BJP leader Smriti Irani on XPandeys career was a series of iconic campaigns that became a cultural phenomenon He helped craft one of Indias most memorable political slogans Ab ki baar Modi sarkarHis ad portfolio includes some of the most memorable advertisements in Indian history like Kuch Khaas Hai Zindagi Mein for Cadbury Dairy Milk featuring the dancing girl Asian Paints Har Ghar Kuch Kehta Hai and the cute ZooZoo characters for Vodafone IANS https://dailyworld.in/business/ministers-industry-leaders-mourn-ad-guru-piyush-pandeys-demise-644684.html Fri, 24 Oct 2025 17:51:00 +0530 https://dailyworld.in/business/indias-manufacturing-pmi-hits-2-month-high-at-584-in-oct-644686.html New Delhi Oct 24 Indias manufacturing activity showed renewed strength in October with the HSBC Flash India Manufacturing Purchasing Managers Index PMI rising to a twomonth high of 584 up from 577 in September a report showed on Friday The data compiled by SampP Global indicates that the countrys manufacturing sector continues to expand at a solid pace supported by strong domestic demand and easing cost pressuresThe rise in the manufacturing PMI reflects an improvement in business conditions driven by higher new orders increased production and steady employment levelsAccording to HSBCs Chief India Economist Pranjul Bhandari the recent GST rate cuts have helped boost domestic demand while keeping input costs under controlShe added that both new orders and output remain above the average seen between January and JulyThe HSBC Flash Manufacturing PMI picked up slightly likely on the back of GST rate cuts which are supporting domestic demand and curbing cost pressures Bhandari saidHowever exportrelated challenges persist due to the impact of US tariffs which continue to weigh on new export orders and future business optimismBoth new orders and output are above the average JanuaryJuly levels However the drag from US tariffs continues to affect new export orders and future optimism which remain below the JanuaryJuly levels she mentionedMeanwhile the HSBC Flash India Composite Output Index which measures the combined performance of the manufacturing and services sectors fell to 599 in October from 610 in SeptemberThe seasonally adjusted index still remained well above the neutral 50mark indicating continued economic expansion albeit at a slower paceExperts said that the strong rebound in manufacturing suggests continued resilience in domestic demand and industrial activity heading into the final quarter of the year IANS https://dailyworld.in/business/indias-manufacturing-pmi-hits-2-month-high-at-584-in-oct-644686.html Fri, 24 Oct 2025 17:52:00 +0530 https://dailyworld.in/business/piyush-pandey-gave-indian-advertising-its-swadeshi-swagger-gautam-adani-644688.html Ahmedabad Oct 24 Gautam Adani Chairman of the Adani Group on Friday mourned the loss of Piyush Pandey a Padma Shri recipient saying he gave Indian advertising its swadeshi swagger Pandey passed away at the age of 70 after battling an infection that took a serious turn according to advertising agency Ogilvy where he served as Executive Chairman and Chief Creative Officer WorldwidePiyush Pandey was far more than just an advertising legend He was the voice that made India believe in its own story He gave Indian advertising its selfconfidence its soul its swadeshi swagger the Adani Group Chairman posted on the social media platform XThe billionaire industrialist further stated that Pandey was a very good friendLike a master batsman he played every stroke with his heart Today India has lost a true son Gautam Adani postedPranav Adani Director of Adani Enterprises the Adani Groups business incubator and flagship company also mourned Pandeys deathDevastated by the passing of my very dear friend Piyush Pandey the creative genius who shaped Indian advertising into a global powerhouse His ideas were the industrys benchmarks and have inspired generations of storytellers Will sorely miss his warmth and wit Pranav Adani posted on the social media platform XPandeys career was a series of iconic campaigns that became a cultural phenomenon His ad portfolio includes some of the most memorable advertisements in Indian history like Kuch Khaas Hai Zindagi Mein featuring the dancing girl Har Ghar Kuch Kehta Hai and the cute ZooZoo charactersPandey also spearheaded public service campaigns like the Do Boond Zindagi Ke Polio Abhiyaan with Bollywood superstar Amitabh BachchanPandey is survived by his family his colleagues who became his extended family and the amazing work that continues to define the heart and soul of Indian advertising IANS https://dailyworld.in/business/piyush-pandey-gave-indian-advertising-its-swadeshi-swagger-gautam-adani-644688.html Fri, 24 Oct 2025 17:55:00 +0530 https://dailyworld.in/business/apec-summit-2025-draws-keen-attention-with-s-korea-us-trade-deal-at-stake-644689.html Seoul Oct 24 With only seven days remaining until the AsiaPacific Economic Cooperation APEC summit eyes are on whether South Korea and the United States could strike an official tariff deal at the twoday event as the countries are making lastminute efforts to resolve differences over Seouls 350 billion investment commitment to Washington The 2025 APEC summit is scheduled to take place in the southeastern city of Gyeongju from next Friday with a summit between South Korean President Lee Jae Myung and US President Donald Trump also expected reports Yonhap news agencyThe main focus is on whether the two sides can finalize their trade agreement before the summit a deal that would have a significant impact on the Korean economy which is heavily dependent on exportsOn Wednesday the presidential chief of staff for policy Kim Yongbeom and Industry Minister Kim Jungkwan traveled to Washington to hold followup tariff negotiations with US Commerce Secretary Howard Lutnick less than a week after returning home from the US capitalThe two returned home early Friday Their latest US trip will likely mark the last facetoface highlevel trade talks between the two countries before the upcoming APEC summitThe two countries have been working to iron out differences over the details of the proposed 350 billion investment package such as financing methods and profit allocationOn July 30 Seoul and Washington reached a framework agreement under which the US agreed to lower reciprocal tariff for South Korea to 15 percent from 25 percent in return for Koreas 350 billion investment in the US along with increased cooperation in the shipbuilding semiconductor battery and other advanced industries The US also agreed to cut the 25 percent tariff on Korean cars to 15 percentTrump earlier said the investment would be made upfront while Seoul officials have argued the investment pledge was intended to finance projects rather than a cash payment and called for financial safeguards such as a currency swap arrangementFollowing monthslong followup talks the presidential policy chief said earlier this week that the two countries have come quite to the tail end of their trade negotiations noting substantive progress on most of the issuesThe biggest sticking point remaining in ongoing trade negotiations appears to be the scale of direct investment by South Korea along with the timing of the investmentSeoul officials recently said the US administration has shown signs of softening its stance on its demand that Seoul should make its entire 350 billion investment commitment upfront in cashThe Korean government is said to have proposed making installments for the 350 billion investment over 10 years to reduce the burden on its foreign exchange FX reserve as the country can use up to 20 billion from the FX reserve in a single year IANS https://dailyworld.in/business/apec-summit-2025-draws-keen-attention-with-s-korea-us-trade-deal-at-stake-644689.html Fri, 24 Oct 2025 17:56:00 +0530 https://dailyworld.in/business/federal-bank-board-approves-999-pc-stake-sale-to-blackstone-for-rs-6-1965-crore-644691.html Mumbai Oct 24 Federal Bank on Friday announced that its Board has approved the sale of a 999 per cent stake to an affiliate of USbased private equity firm Blackstone The deal valued at Rs 61965 crore will be carried out through the issue of preferential equity shares and warrants the bank said in a statementUnder the agreement 25 per cent of the warrant issue price will be paid at the time of subscription while the remaining 75 per cent will be payable when the warrants are converted into equity sharesOnce the transaction is completed Asia II Topco XIII Pte Ltd a Blackstone affiliate will hold a 999 per cent stake in Federal BankThe bank plans to issue over 27 crore warrants each priced at Rs 227 Each warrant can later be converted into one share of the bank without any additional payment beyond the issue price unless otherwise specifiedAs part of the deal Federal Banks Board has also approved granting a special right to the Blackstone affiliate to nominate one retiring nonexecutive director to the Board once all the warrants are exercisedFederal Bank will hold an Extraordinary General Meeting EGM on November 19 to seek shareholders approval for the proposed deal with Blackstone The record date to determine eligible shareholders has been set for November 12Blackstones planned investment in Federal Bank is the latest in a series of major deals in Indias fastgrowing financial sector which has been drawing strong interest from global investorsEarlier this month Emirates NBD the UAEs secondlargest bank announced plans to acquire a majority stake in RBL Bank for 3 billionMeanwhile IDFC FIRST Bank and Sammaan Capital have received investment commitments from Warburg Pincus and Abu Dhabis International Holding Company IHCFollowing the announcement shares of Federal Bank were trading slightly higher at Rs 22930 apiece up 086 per cent as of 1130 am on Friday IANS https://dailyworld.in/business/federal-bank-board-approves-999-pc-stake-sale-to-blackstone-for-rs-6-1965-crore-644691.html Fri, 24 Oct 2025 17:57:00 +0530 https://dailyworld.in/business/google-expands-india-first-agricultural-ai-apis-to-apac-countries-644693.html New Delhi Oct 24 US tech giant Google on Friday announced that it is expanding its Agricultural Landscape Understanding ALU API and Agricultural Monitoring and Event Detection AMED API initially launched in India to trusted testers in Malaysia Vietnam Indonesia and Japan The ALU API launched for Indian developers in October 2024 identifies fields water bodies and vegetation boundaries The AMED API enhances ALU by providing fieldlevel insights on the most cultivated crops and their sowing and harvest timelines at individual field levels with data updates every 15 days helping detect agricultural eventsThe freely available APIs leverage remote sensing and machine learning to provide local ecosystems with insights that can help build costeffective simple and targeted agricultural solutions the statement saidThese local use cases have delivered on our ambition for AI to assist targeted datadriven action and solutions that benefit stakeholders across Indias agriculture landscape said Alok Talekar Lead Agriculture and Sustainability Research Google DeepMindGoogle highlighted Indian deployments as evidence for wider regional application saying that the APIs have aided startups government projects and research institutions in enhancing sustainability and resilience in the countrys agricultural sectorTogether these models provide essential information and insights that serve as a base layer for the agriculture ecosystem to develop precision agriculture tools optimise resource allocation and improve farm management practices Google saidIndia is integrating APIs into Krishi DSS an Amnex platform for the agriculture ministry to enhance advanced analytics for policymakers and field officersThe Council on Energy Environment and Water plans to use APIs to create targeted incomesupport mechanisms that promote climatefriendly crops Google mentioned that startups use APIs to improve climatesmart advisory services for over 10 million farmers and to optimise rural credit processes IANS https://dailyworld.in/business/google-expands-india-first-agricultural-ai-apis-to-apac-countries-644693.html Fri, 24 Oct 2025 18:00:00 +0530 https://dailyworld.in/business/world-bank-programme-to-provide-better-health-coverage-to-11-million-people-in-kerala-644696.html New Delhi Oct 24 The World Banks Board of Executive Directors on Friday approved a new programme to improve the life expectancy and quality of life for 11 million elderly and vulnerable people in Kerala with wider access to health coverage The 280 million Kerala Health System Improvement Programme will build a more comprehensive health system resistant to climate shocksIt will also strengthen Keralas digital health systems through expanded eHealth services integrated data platforms and enhanced cybersecurityThe programme aims to treat and support over 90 per cent of patients registered for hypertension and diabetes in the state through individual electronic tracking mechanisms It will also establish a homebased care model for bedbound homebound and vulnerable elderly to provide comprehensive health servicesGood health empowers people creates jobs and drives economic growth Strong resilient health systems also help economies prevent and better respond to health emergencies and pandemics said Paul Procee the World Banks Acting Country Director for IndiaIn Kerala women have one of the highest educational attainments in the country and can contribute more to the states economic growth with optimum health The programme will ensure a 40 per cent increase in patients whose hypertension is controlled and 60 per cent increase in cervical and breast cancer screening for women to accelerate efforts to end preventable deaths he addedKerala has achieved sustained health gains for over two decades with improvements in neonatal 34 per 1000 live births infant 44 per 1000 live births underfive mortality 52 per 1000 live births and maternal mortality 19 per 100000 live births ratesThis stems from high literacy rates public health awareness and decentralised governance However a rising burden of noncommunicable diseases hypertension diabetes cancer and a rapidly ageing population with the elderly comprising over 20 per cent of the total population has strained the health systemHowever there are gaps in emergency and trauma care with over 4000 deaths in road traffic reported annuallyThe new programme will engage with local government bodies such as gram panchayats and municipal corporations to adopt standard protocols and procedures for antibiotic use and address zoonotic disease outbreaks by fasttracking reliable laboratory information for patientsPrimary health facilities in the districts of Wayanad Kozhikode Kasaragod Palakkad and Alappuzha will also adopt climateled solutions to improve energy efficiency and manage extreme heat and floodsKerala has adopted One Health approaches and experiences from ongoing World Bank support have been tapped to establish a sound system of community surveillance said Deepika Chaudhery and Hikuepi Katjiuongua the Task Team Leaders of the programmeThis programme will ensure elderly people in Kerala receive wider access to health coverage through innovative initiatives The programme will also support a multilevel trauma and emergency care system to ensure that 85 million people receive timely and highquality service they addedThe 280 million loan from the International Bank of Reconstruction and Development IBRD has a final maturity of 25 years with a grace period of five years IANS https://dailyworld.in/business/world-bank-programme-to-provide-better-health-coverage-to-11-million-people-in-kerala-644696.html Fri, 24 Oct 2025 18:01:00 +0530 https://dailyworld.in/business/made-monumental-contribution-to-the-world-of-advertising-pm-modi-on-piyush-pandeys-demise-644700.html New Delhi Oct 24 Prime Minister Narendra Modi on Friday expressed grief over the demise of advertising legend Piysuh Pandey remembering his contribution to the world of communication The Prime Minister said he will always cherish the interactions with Pandey PM Modi said his thoughts are with Pandeys admirers and familyIn a post on the social media platform X he said Piyush Pandey Ji was admired for his creativity He made a monumental contribution to the world of advertising and communications I will fondly cherish our interactions over the years Saddened by his passing away My thoughts are with his family and admirers Om ShantiPandey a Padma Shri recipient lost the battle against an infection at 70Pandey the Executive Chairman and Chief Creative Officer Worldwide of Ogilvy was widely regarded as the architect of modern Indian advertisingThe advertising legend helped in crafting one of Indias most memorable political slogans Ab ki baar Modi sarkar His ad portfolio includes some of the most memorable advertisements in Indian history like Kuch Khaas Hai Zindagi Mein for Cadbury Dairy Milk featuring the dancing girl Asian Paints Har Ghar Kuch Kehta Hai and the cute ZooZoo characters for VodafonePandey also spearheaded public service campaigns like the Do Boond Zindagi Ke Polio Abhiyaan with Amitabh BachchanHe is survived by his family his colleagues who became his extended family and the amazing work that continues to define the heart and soul of Indian advertisingSoon after the news about Pandeys demise spread condolences poured in from Union Ministers and industry leadersFinance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal expressed grief over the demise of the advertising legendFormer Odisha Chief Minister Naveen Patnaik called Pandey a doyen of Indian advertisingShiv SenaUBT MP Priyanka Chaturvedi also expressed grief and called Pandey a communication genius and a truly inspiring personAdani Group Chairman Gautam Adani and Adani Enterprises Director Pranav Adani also mourned the loss of Piyush Pandey IANS https://dailyworld.in/business/made-monumental-contribution-to-the-world-of-advertising-pm-modi-on-piyush-pandeys-demise-644700.html Fri, 24 Oct 2025 18:06:00 +0530 https://dailyworld.in/business/sagar-cements-shares-fall-over-46-pc-on-weak-q2-quarterly-performance-644706.html Mumbai Oct 24 Shares of Telanganabased Sagar Cements fell nearly 4 per cent on Friday hitting an intraday low of Rs 2329 on the NSE after the company reported its September 2025 quarter Q2 FY26 results At 1243 pm the stock was trading at Rs 23083 down by Rs 1137 or 469 per cent from the previous close of Rs 2422The companys market capitalisation stood at Rs 3084 crore with a 52week high of Rs 2994 and a low of Rs 168Sagar Cements posted weaker numbers on a sequential quarteronquarter QoQ basisRevenue fell around 10 per cent from Rs 67066 crore in Q1 FY26 while operating EBITDA declined 58 per cent from Rs 12145 croreThe company had recorded a profit after tax of Rs 749 crore in the previous quarter compared to Rs 4417 crore loss in the quarter under reviewThe weaker sequential performance was mainly due to plant shutdowns and higher employeerelated costsDuring Q2 FY26 the kiln at the Dachepalli plant was shut down for the commissioning of a new preheater while the kiln at the Mattampally plant underwent a maintenance shutdown in September 2025 the company saidThese shutdowns led to a reduction in clinker stocks thereby impacting profitability for Q2FY26 the company addedRevenue was also affected by a 5 per cent decline in volumes on a sequential basisAdditionally the company completed its employee appraisal process for FY26 effective from April 1 2025 which led to an increase in employee expenses during the quarterHowever on yearonyear YoY the firm reported consolidated revenue from operations of Rs 60186 crore in Q2 FY26 marking a 27 per cent rise from Rs 47512 crore in the same quarter last financial yearIts operating earnings before interest tax depreciation and amortisation EBITDA grew 158 per cent to Rs 5133 crore from Rs 1933 crore in the yearago periodThe companys loss after tax narrowed to Rs 4417 crore against Rs 5698 crore in Q2 FY25 IANS https://dailyworld.in/business/sagar-cements-shares-fall-over-46-pc-on-weak-q2-quarterly-performance-644706.html Fri, 24 Oct 2025 18:11:00 +0530 https://dailyworld.in/business/india-stays-resilient-with-diversified-export-basket-amid-global-uncertainty-644712.html New Delhi Oct 24 Indias exports grew 519 per cent yearonyear between April and August 2025 to 3461 billion compared to 32903 billion during the same period in 2024 despite the uncertainty in global markets The performance comes on top of 71 per cent growth in exports in 2024 exceeding the global average of 25 per cent according to World Bank dataThis underscores Indias growing competitiveness diversification and resilience From hightech electronics to traditional commodities like tea and textiles Indias export growth story is being powered by innovation strategic reforms and expanding trade alliances according to an article in India NarrativeExports now contribute 212 per cent to Indias GDP up from 198 per cent in 2015 highlighting their rising importance in the national economy In August 2025 alone exports rose 477 per cent yearonyear with merchandise and services contributing 5309 per cent and 4691 per cent respectivelyBuoyed by this momentum the government has set an ambitious export target of 1 trillion for FY 202526 The growth in Indian exports despite global uncertainties is a result of the synergy between government policy digital transformation and the entrepreneurial dynamism of Indian exporters all advancing the vision of Atmanirbhar Bharat on a global scale the article statesIndias merchandise exports reached 18374 billion in AprilAugust 2025 up 231 per cent from the previous year Nonpetroleum and nongems and jewellery exports performed even better rising 776 per cent to 1467 billion underscoring the strength of sectors like engineering goods electronics chemicals and pharmaceuticalsElectronic goods led the surge with a 406 per cent increase adding 55 billion in value compared to the same period in 2024 This success is closely linked to the ProductionLinked Incentive PLI and Make in India schemes that have transformed India from a net importer to a net exporter of smartphones Exports of smartphones alone crossed Rs 1 lakh crore in the first five months of FY26 a robust 55 per cent increase over the previous year the article further statesEngineering goods a mainstay of Indian exports climbed 586 per cent to 4924 billion The US the UAE and Germany remain top buyers with products ranging from industrial machinery to valves and ATMs Government schemes like EPCG Export Promotion Capital Goods and MAI Market Access Initiative continue to enhance competitivenessThe pharmaceutical sector another export powerhouse grew 73 per cent reaching 1276 billion Indias reputation for affordable highquality generics and specialty drugs ensures continued demand from major markets such as the US Brazil and France Regulatory reforms like the UCPMP 2024 and National Medical Devices Policy 2023 have strengthened compliance and expanded export potential according to the articleTextiles and apparel a labourintensive industry grew 578 per cent to 677 billion reaffirming Indias global standing as the sixthlargest textile exporterAmid shifting global food preferences Indias exports of other cereals including barley quinoa and oats grew 2195 per cent yearonyear These products are benefitting from the global trend toward healthy sustainable foods with Nepal Sri Lanka and the UAE among top buyersSupportive initiatives like the Agriculture Export Policy and APEDAs market development programmes have been instrumental in expanding Indias agriexport reachTea exports surged 182 per cent with India overtaking Sri Lanka as the worlds secondlargest tea exporter in 2024 Iconic varieties like Assam and Darjeeling continue to dominate markets in the UAE Iraq and the US the article added IANS https://dailyworld.in/business/india-stays-resilient-with-diversified-export-basket-amid-global-uncertainty-644712.html Fri, 24 Oct 2025 18:15:00 +0530 https://dailyworld.in/business/from-coffee-to-drones-gst-rejig-to-boost-karnatakas-economy-644713.html New Delhi Oct 24 The GST reforms will give significant benefits to Karnatakas farmers cultivating coffee dairy and cashew to artisans engaged in handlooms and handicrafts and entrepreneurs driving industrial and technological growth the government informed on Friday Tax cuts will lower costs expand market access and improve margins for farmers artisans and strengthen the competitiveness of MSMEs and exporters an official statement saidTax reforms reduce prices on coffee extracts instant coffee UHT milk paneer ghee butter processed cashew nuts coir products and processed fish with estimated retail price drops of 512 per cent based on the productKarnataka is responsible for approximately 71 per cent of Indias coffee production in Kodagu Chikkamagaluru and Hassan Tax reforms could cut retail prices by 1112 per cent and enhance margins for small processors and cooperativesRemoval of GST on UHT milk and paneer and a reduction from 12 per cent to 5 per cent on ghee and butter are projected to reduce retail prices by 57 per cent These changes will enhance cooperative margins and support the livelihoods of approximately 26 lakh milk producers associated with the Karnataka Milk Federation the statement saidCoastal cashew processing hubs in Dakshina Kannada and Udupi will see a reduction in processed cashew nut prices from 12 per cent to 5 per cent resulting in a 67 per cent price cut that will benefit thousands of women workersThe GST reduction from 12 per cent to 5 per cent on coir mats rugs and geotextiles is expected to make them 67 per cent cheaper boosting competitiveness against synthetic alternatives the statement notedCanned tuna frozen shrimp and readytoeat fish curries are around 67 per cent cheaper due to GST reforms boosting value addition within the fisheries value chainRate cut on agricultural machinery will significantly reduce the cost of farm mechanisation GST rejig will also strengthen Karnatakas exportoriented garment clusters improve womens employment and stimulate demand across the textile value chain from spinning to apparel productionOther segments that are expected to benefit from GST reforms include Mysore Rosewood inlay art Bidriware one of Indias finest metal handicrafts Ilkal and Udupi handloom sarees the granite industry cement and dronesThe GST reforms lower the cost of domestically manufactured drones by 1120 per cent strengthening Karnatakas position as a leading centre for drone innovation and enhancing competitiveness against imports IANS https://dailyworld.in/business/from-coffee-to-drones-gst-rejig-to-boost-karnatakas-economy-644713.html Fri, 24 Oct 2025 18:16:00 +0530 https://dailyworld.in/business/karnataka-ksdl-hands-over-rs-135-crore-dividend-to-govt-644716.html Bengaluru Oct 24 The public sector enterprise Karnataka Soaps and Detergents Limited on Friday handed over Rs 135 crore to the State Government as dividend from its profits for the financial year 202425 On behalf of the public limited enterprise Large and Medium Industries Minister MB Patil and Karnataka Soaps and Detergents Limited Chairman Appaji Nadagouda presented the cheque to Karnataka Chief Minister Siddaramaiah at the Conference Hall of Vidhana SoudhaSpeaking on the occasion Minister Patil said that Karnataka Soaps and Detergents Limited had achieved a turnover of Rs 1700 crore and recorded a profit of Rs 451 crore in the last financial year In line with regulations 30 per cent of the profit has been paid to the government as dividendThis marks an alltime record for the company in terms of turnover profit and dividend he remarkedIn 202223 Karnataka Soaps and Detergents Limited had paid a dividend of Rs 54 crore to the State Government followed by Rs 108 crore in 202324 Compared with last year this years dividend reflects an increase of Rs 27 crore In the coming years this amount is expected to rise further Minister Patil addedKarnataka Deputy Chief Minister DK Shivakumar Ministers KJ George Priyank Kharge MC Sudhakar Santosh Laud Industries Department Principal Secretary S Selvakumar and Karnataka Soaps and Detergents Limiteds Managing Director PK Prashanth were present on the occasionKarnataka Soaps and Detergents Limited was established in 1916 by the then Government of Mysore It is a public sector enterprise in Karnataka and is best known for its flagship product Mysore Sandal Soap which is made from pure sandalwood oil sourced from KarnatakaThe company was originally set up to promote and commercialise the states sandalwood resources and to manufacture highquality soaps and detergents for domestic and international markets Over the years Karnataka Soaps and Detergents Limited has expanded its product range to include a variety of personal care and hygiene products IANS https://dailyworld.in/business/karnataka-ksdl-hands-over-rs-135-crore-dividend-to-govt-644716.html Fri, 24 Oct 2025 18:20:00 +0530 https://dailyworld.in/business/19-pc-assets-of-indian-mutual-fund-industry-came-from-b30-locations-in-sep-report-644720.html New Delhi Oct 24 As much as 19 per cent of the assets of the Indian mutual fund industry came from beyond the top 30 cities B30 locations in September 2025 a report said on Friday Assets from B30 locations increased from Rs 1414 trillion in August to Rs 1450 trillion in September representing a growth of 26 per cent While on a yearonyear YoY basis the same rose by 15 per centMeanwhile Assets from top 30 cities T30 locations also grew 14 per cent YoY basis in Sep 2025 ICRA Analytics said citing data from the Association of Mutual Funds in India AMFIAccording to the report the B30 location continued to tend towards equity assetsNearly 7660 per cent of the assets from B30 locations are in equity schemes and 912 per cent in balanced schemes in September At the same time close to 1167 per cent of the assets from the B30 location are in debtoriented schemes while the same from the T30 location accounts for 3039 per centIn September 2025 2752 per cent of assets held by individual investors are from the B30 locations while 493 per cent of institutional assets come from B30 locationsInstitutional assets are concentrated in T30 locations accounting for 9507 per cent of the total In September 2024 2694 per cent of assets were held by individual investors from B30 locations and 482 per cent of institutional assets from B30 locationsMeanwhile according to the report as of September 2025 approximately 2737 per cent of retail investors opted for direct investments while 6530 per cent of retail investors came through the route of NonAssociate DistributorsNearly 2890 per cent of High Net Worth Individual HNI assets were directly invested Additionally 4770 per cent of the mutual fund industrys assets were invested directly and 4596 per cent came from NonAssociate Distributors IANS https://dailyworld.in/business/19-pc-assets-of-indian-mutual-fund-industry-came-from-b30-locations-in-sep-report-644720.html Fri, 24 Oct 2025 18:23:00 +0530 https://dailyworld.in/business/govt-allots-another-3-coal-blocks-for-mining-to-successful-bidders-644721.html New Delhi Oct 24 The Ministry of Coal has handed over another three coal blocks to successful bidders under the commercial auction route for which the Coal Mine Development and Production Agreements were signed on August 21 this year according to an official statement issued on Friday The blocks for which vesting orders were issued on Thursday include Rajgamar Dipside Deavnara Tangardihi North and Mahuagarhi Among these 2 blocks are partially explored and 1 block is fully explored with peak rated capacity of 1 million tonnes per annum The total geological reserves of these three blocks are around 148441 million tonnes the statement saidThese blocks are expected to generate an annual revenue of about Rs 18977 crore and attract a capital investment of Rs 150 crore As many as 1352 people are expected to get employment directly and indirectly through these mining ventures the statement explainedAllocation orders have now been issued for 130 coal blocks under commercial auctions with cumulative peak rated capacity of 267244 million tonnes per annum This is expected to generate an annual revenue of around Rs 37700 crores and will generate employment for over 361300 people both directly and indirectlyIn 2025 the Ministry of Coal launched the 13th round of commercial coal block auctions in August and successfully auctioned seven coal blocks in July The Ministry also issued vesting orders for five more blocks earlier in October The 13th round of auctions offers both fully and partially explored blocks and includes reforms like incentives for early production and updated penalties for delaysAs part of the coal sector reforms the government has moved from an earlier restrictive model to granting coal mining blocks pursuant to a competitive bidding process and from prescribing specific enduse to permitting commercial sale of coal The auctionbased regime introduced in 2014 allowed private sector participation however it was limited to captive usage in own end use plants Now the sector has been opened up for commercial coal mining by private players in 2020Commercial coal block auctions are conducted in a twostage online bidding process which involves technical screening and submission of competitive initial price offers in the first stage and a second and final stage where better price offers are intended to be received IANS https://dailyworld.in/business/govt-allots-another-3-coal-blocks-for-mining-to-successful-bidders-644721.html Fri, 24 Oct 2025 18:24:00 +0530 https://dailyworld.in/business/nse-launches-4-mobile-solutions-enhancements-to-its-mf-platform-644724.html New Delhi Oct 24 The National Stock Exchange NSE announced on Friday that it has introduced four new mobile solutions and major enhancements to its NSE MF Invest mutual fund platform These initiatives are aimed at enhancing accessibility transparency and convenience for investors trading members and listed companies according to a statementThe new digital suite features an upgraded Investor App for easy portfolio tracking through manual entry or by linking their trades executed on NSE available in 13 languages including English and HindiUsers can avail themselves of the link to their broker account registered with NSE in the Unique Client Identification UCIThe mobile application in iOS and Android is available in English Hindi Marathi Gujarati Bengali Kannada Tamil Telugu Punjabi Malayalam Oriya Assamese and UrduNSE also launched a WhatsApp chatbot for market updates statistics and price informationFurther it introduced a Member Portal App with realtime compliance dashboards for submission and penalty statuses and onthego access to key resources such as investor awareness Programs circulars and FIIDII statisticsNSE also launched an NEAPs app for companies to monitor submission status compliance calendars and stock performance All applications are now available on the Apple App Store and Google Play StoreIt also introduced significant enhancements to the NSE MF Invest platform aimed at elevating investor convenience and providing ease of doing business for market participants the release notedNSE MF Invest has implemented enhancements including a carting facility and payment retriggering to allow up to 10 orders lump sum SIP STP and SWP in one session and folio autopopulationFolio auto population automatically populate transactions mapped to investors on the NSE MF Invest Platform reducing manual entry errors and order rejections the release notedIt also introduced mapping for EUIN subbroker code and ARN to reduce manual entry mistakes IANS https://dailyworld.in/business/nse-launches-4-mobile-solutions-enhancements-to-its-mf-platform-644724.html Fri, 24 Oct 2025 18:26:00 +0530 https://dailyworld.in/business/nit-rourkelas-smart-hybrid-microgrid-to-ensure-green-energy-supply-in-rural-areas-644729.html New Delhi Oct 24 Researchers from the National Institute of Technology NIT Rourkela have developed a smart control system that can automatically manage the electricity flow from solar wind and battery sources This innovative hybrid microgrid can deliver a clean and continuous power supply to areas in the countryside that have no access to the main electric power grid and even during fluctuating solar radiation changing wind speeds and varying electrical loadsThe research published in the journal IEEE Transactions on Industry Applications aims to reduce the potential use of fossil fuel reserves and provide power to remote regions that are not covered by the main electricity gridThis work focuses on power management among different sources loads and storage systems Energy management techniques in renewablesintegrated microgrids provide social benefits by ensuring reliable electricity access especially in remote communities They promote sustainable development create local employment opportunities and improve living standards said Prof Arnab Ghosh and Prof Krishna Roy Assistant Professors Department of Electrical Engineering NIT RourkelaAdditionally they reduce dependence on fossil fuels enhance energy security and support community resilience through cleaner affordable and more equitable energy solutions the team addedTo address the issue of fluctuations researchers developed a dynamic Power Management Scheme PMS that enables all energy producers and storage units to coordinate seamlesslyThis controlling technique allows the batteries to store energy safely and efficiently enabling greater storage capacity and longer battery life while reducing overall expendituresBy automatically switching converters according to the most readily available resources solar in the morning and wind Biomass Gasifier BMG and Pico Hydropower PH during the rest of the day the system ensures that the active power flow is balanced across different loadsThis multisource converterbased hybrid setup can provide an effective solution for the needs of remote communities and can be a source of approximately 10 kWh of dependable energy sufficient for four households in rural areas IANS https://dailyworld.in/business/nit-rourkelas-smart-hybrid-microgrid-to-ensure-green-energy-supply-in-rural-areas-644729.html Fri, 24 Oct 2025 18:29:00 +0530 https://dailyworld.in/business/gst-reforms-festive-season-drive-consumer-sentiment-by-14-pc-points-report-644738.html New Delhi Oct 24 Indias consumer sentiment saw an uptick of 14 percentage points in October 2025 driven by the onset of the festive season and recently introduced GST reforms aimed at easing the indirect tax burden The festive season coupled with governmentled GST reforms designed to reduce the cost of living seems to have enabled more household savings and increased capacity for discretionary spendingThese factors have collectively led to a positive movement in Indias National Index score reflecting broader optimism around jobs personal finances investments and the economy Ipsos a market research firm said in its reportAccording to the report regionally sentiment was largely positive across the AsiaPacific and Indonesia saw the highest gain with a rise of 65 percentage pointsThailand followed with an increase of 36 points South Korea with 26 points Malaysia with 21 points and India with 14 pointsFrom late September through October India has been in a celebratory mood with a host of festivals creating a feelgood atmosphere across the country The festive season seems to have spurred consumer spending reflecting the spirit of celebration said Suresh Ramalingam CEO Ipsos IndiaThe festive fervour combined with the governments recent GST reforms aimed at reducing the cost of living and enhancing household savings appears to have provided a further boost to consumer sentiment he addedIn contrast Australia and Japan experienced declines in consumer sentiment falling by 21 and 20 percentage points respectivelyAccording to the report in Latin America the picture was mixedArgentina showed the largest drop in sentiment globally with a decline of 35 percentage points followed by Colombia at 31 points Brazil however registered a significant increase of 22 points the report saidAmong the 30 countries surveyed Indonesia holds the highest National Index score at 588 reflecting a strong monthly gain of 65 percentage points in consumer sentimentIndia ranks second with a national index score of 584 marking an increase of 14 points over the previous monthFor the third consecutive month no country has reached or surpassed the 60point mark highlighting a general moderation in global consumer sentiment IANS https://dailyworld.in/business/gst-reforms-festive-season-drive-consumer-sentiment-by-14-pc-points-report-644738.html Fri, 24 Oct 2025 18:41:00 +0530 https://dailyworld.in/business/india-a-strategic-long-term-partner-for-us-airbus-chairman-rene-obermann-644745.html New Delhi Oct 24 Rene Obermann Chairman of the Board of Directors at Airbus has said that India is a strategic longterm partner for them and he is very bullish on India Speaking at a panel discussion on Growing Together Trade and Alliances in a Changing World at the Berlin Global Dialogue in Germany in the presence of Commerce and Industry Minister Piyush Goyal Obermann said he was recently in India for about a week and was completely blown away by the level of engineering and quality excellence thereFor Airbus India is a strategic longterm partner The part of the discussion was not just how can you make things cheaper for us but how can we make things better by leveraging the capabilities of Indian technologies and the tech talent there Obermann told the gatheringThe discussions were also on how to further evolve the partnership with IndiaThe situation offers unique opportunity for Europe I am very bullish on India On the entrepreneurial level India offers excellent education and superb engineering talent said ObermannGoyal said he was delighted to participate in the panel discussionEmphasised on how India continues to look at its trade partnerships from the prism of longterm mutual growth Highlighted the vast opportunities that are opening up in the country for global companies to participate in and build for the future the minister posted on X social media platformTrade deals are about trust Indias strong demographic dividend sets it apart Goyal addedFollowing his highlevel engagements at the German Federal Ministry for Economic Affairs and Energy and the Federal Chancellery Goyal met Deputy Prime Minister and Minister of Foreign Affairs and Trade of Luxembourg Xavier BettelBoth leaders reviewed the progress in economic relations and explored further avenues to strengthen bilateral trade and business relationsThey also discussed the upcoming State Visit to India as well as regional and global developmentsGoyal also held oneonone discussions with CEOs of leading German companies The discussions focused on synergies and prospects for increased collaborations between Indian and German companies especially in critical sectors like defence energy emerging technologies and mobility IANS https://dailyworld.in/business/india-a-strategic-long-term-partner-for-us-airbus-chairman-rene-obermann-644745.html Fri, 24 Oct 2025 18:48:00 +0530 https://dailyworld.in/business/bse-warns-investors-against-fake-social-media-accounts-using-its-officials-photos-644746.html Mumbai Oct 24 The Bombay Stock Exchange BSE on Friday warned investors about miscreants using BSEs officials photos to create fake social media IDs to spread misleading wealth advisory It has come to the attention that photos of senior BSE officials are being used to create fake social media IDs The IDs created claim to provide a wealth advisory solution to mislead gullible investors the stock exchange said in a statementBSE officials are allowed to initiate or endorse any wealth management or advisory services in any capacity however investors should not to misguided by such fake misrepresentationsInvestors are urged not to rely on any stockshare recommendation from any such fake social media handle and verify the source of communication before making any investment decisions the stock exchange saidFurther BSE advised investors to engage with only registered intermediaries whose list is available on SEBI and BSE websitesThe stock exchange said that it only conveys information through its official websites and social media handlesAny official communication from BSE is made only through wwwbseindiacom and BSEs social media handles bseIndia Instagram bseIndia Facebook BSEIndia LinkedIn BSEIndia X Twitter BSEworldBSEIndia YouTube BSE statedEarlier BSE said that it had resolved 190 complaints from investors against 126 companies in the month of September 2025The Bombay Stock Exchange received 173 complaints against 102 companies in September this yearThe complaints from earlier times are among those that the Bombay Stock Exchange has settledThe stock exchange also disclosed that as of September 2025 Suraj Products Ltd Bajaj Auto Limited and Reliance Home Finance Limited were the top three companies with complaints that had been pending for more than a month to be resolvedDuring the five years between April 2020 and March 2025 the Securities and Exchange Board of India investigated 76 cases involving investmentrelated fraud and the offenders were ordered to disgorge Rs 949 crore in illicit gainsTo stop identify and combat fraud involving investments a number of central government law enforcement and regulatory organisations have been acting IANS https://dailyworld.in/business/bse-warns-investors-against-fake-social-media-accounts-using-its-officials-photos-644746.html Fri, 24 Oct 2025 18:49:00 +0530 https://dailyworld.in/business/poverty-surges-to-39-pc-pakistan-moving-faster-towards-destitution-644748.html London Oct 24 Pakistan is facing a deepening poverty crisis that reflects the convergence of economic mismanagement structural inefficiencies and environmental devastation The poverty rate which had been declining for nearly two decades has now surged to 39 per cent pushing an estimated 125 million additional people below the poverty line according to an article in Lens Asia a Bangladesh media outletBetween fiscal years 2020 and 2025 the country has experienced severe volatility in inflation GDP per capita growth and sectoral performance all of which have contributed to a sharp rise in poverty the article statesPersistently high energy costs and elevated core inflation continued to squeeze vulnerable families many of whom were already struggling to meet basic needs Human capital development has also suffered with over onethird of children out of school in 202425 The exclusion is most severe among female students and the youngest age cohorts threatening longterm productivity and perpetuating cycles of poverty the article points outOne of the most crippling contributors to Pakistans economic distress is the circular debt crisis in the power sector which has ballooned to Rs 24 trillion as of September 2025 equivalent to 21 per cent of the countrys GDPThis debt represents unpaid dues to electricity companies for power that has already been consumed but not compensated for creating a vicious cycle that stifles growth and drains public resourcesAt the heart of this crisis are Independent Power Producers IPPs private entities operating under contracts signed since the 1990s that guarantee profits in US dollars while shielding them from business risksThese contracts include capacity charges which require payments for simply keeping power plants operational and takeorpay clauses that obligate the government to purchase electricity regardless of actual demandA government inquiry revealed that IPPs earned Rs 1000 billion in excess profits through inflated costs and guaranteed payments Yet instead of recovering these funds the government chose to pass the burden onto citizensFiscal consolidation measures have further exacerbated poverty Indirect tax hikes have disproportionately impacted the poor while realterm reductions in the Public Sector Development Programme PSDP have curtailed infrastructure spending and limited labour income opportunitiesNatural disasters have compounded these economic challenges particularly in floodaffected districts across Balochistan Khyber Pakhtunkhwa and Sindh Over 118 million people are projected to face acute food insecurity during the winter lean period with 22 million classified in Emergency IPC Phase 4These regions continue to grapple with reduced crop and livestock production due to heavy monsoon rains that submerged farmland and triggered disease outbreaks among animalsAmid this backdrop of economic fragility Pakistans currency appears deceptively stable As of September 2025 the USDPKR exchange rate stands at 28201 having strengthened slightly over the past month while declining 194 per cent over the past yearThis apparent stability however is the result of one of the most aggressive currency manipulation campaigns in emerging market historyThe State Bank of Pakistan has purchased 9 billion from the interbank market over the past nine months to artificially boost reserves and create demand for the rupee despite market fundamentals suggesting otherwisePakistans foreign exchange market is particularly vulnerable due to its shallow structure with a daily turnover of just 200300 millionCentral bank interventions now account for 3040 per cent of daily volume distorting price discovery and making stability exponentially more expensive to maintain as pressures mountWithout urgent reforms Pakistan risks entrenching poverty for millions more undermining its development goals and destabilising its social fabric The illusion of stability cannot mask the reality of growing deprivation and the time for corrective action is rapidly running out the article added IANS https://dailyworld.in/business/poverty-surges-to-39-pc-pakistan-moving-faster-towards-destitution-644748.html Fri, 24 Oct 2025 18:50:00 +0530 https://dailyworld.in/business/netherlands-based-gx-group-announces-rs-500-crore-investment-to-make-photonics-chips-in-india-644751.html New Delhi Oct 24 GX Group a Netherlandsbased telecom equipment maker announced the launch of GX Quantum Photonics Private Limited on Friday to make advanced Photonics modules and chip systems in India These modules and chip systems are used for nextgeneration broadband 5G6G and quantum communication technologies the statement saidThe company mentioned that an initial investment commitment of Rs 500 crore is made which will establish Indias first Photonics chip development or manufacturing and RampD hubIt announced that the investment is supported by Invest International of the Netherlands which has formed a strategic collaboration with SMART Photonics BV a global leader in Indium Phosphidebased photonic integrated circuitsThis initiative aims to reduce import dependence and enables secure exportready optical components and reinforces Indias position in the 50 billion global Photonics module the statement saidGX Group informed that the project is projected to generate over 300 skilled manufacturing jobs and will support AI data centres EV LiDAR and quantum communicationsIndias growth story is incomplete without technological independence Through GX Quantum Photonics we are creating the nations first Photonics modules and chipsets designed developed and built in India said Paritosh Prajapati CEO of GX GroupOur vision goes beyond manufacturing we aim to make India a global Photonics hub that powers AIready networks smart infrastructure and secure digital ecosystems he addedThe global Photonics industry valued at 920 billion in 2023 is projected to reach 164 trillion by 2032 the statement notedPhotonics module and optical transceiver segment is expected to grow from 20 billion to 50 billion by 2030 driven by 5G6G rollouts hyperscale data centres and AI infrastructureGX Quantum Photonics is also an applicant under the Production Linked Incentive PLI Scheme for Large Scale Electronics Manufacturing ECMSThis initiative directly supports the Government of Indias Atmanirbhar Bharat vision and aligns with Semicon India and Quantum Mission aimed at positioning India as a global hub for Electronics System Design and Manufacturing ESDM IANS https://dailyworld.in/business/netherlands-based-gx-group-announces-rs-500-crore-investment-to-make-photonics-chips-in-india-644751.html Fri, 24 Oct 2025 18:52:00 +0530 https://dailyworld.in/business/kerala-centre-sanctions-rs-300-crore-for-palakkad-industrial-smart-city-project-644752.html Thiruvananthapuram Oct 24 The Central government has sanctioned the third instalment of Rs 3002 crore for the Palakkad Industrial Smart City Project a key component of the KochiBengaluru Industrial Corridor The funds have been allocated to the Kerala Industrial Corridor Development Corporation Ltd KICDC even as the State government transferred an additional 316 acres of land to the corporationWith this the Centre has released a total of Rs 6137 crore in three instalments while Kerala has handed over 646 acres of land accounting for nearly 45 per cent of the total project cost and land requirementThe KICDC a Special Purpose Vehicle SPV jointly formed by Keralas KINFRA and the National Industrial Corridor Development and Implementation Trust NICDIT with equal equity participation is implementing and coordinating the projectA highlevel review meeting was recently held in Kochi to fasttrack infrastructure developmentIt was attended by APM Mohammed Hanish Principal Secretary Department of Industries Government of Kerala Rajit Saini MD amp CEO NICDIT and Santosh Koshi Thomas MD KICDC Representatives from Dilip BuildconPSP Projects joint venture awarded the infrastructure development contract and the Project Management Consultant team also participatedThe meeting decided to sign the project agreement within this month and begin groundwork immediately with a collective emphasis on completing the infrastructure ahead of schedule Kerala has emerged as the first state among the 12 proposed Industrial Smart Cities in India to complete the tendering process for infrastructure developmentTwo years ago the state through the Kerala Infrastructure Investment Fund Board KIIFB spent Rs 1489 crore to acquire 1450 acres of land for the projectThe Centres latest fund release follows Kerala Industries Minister P Rajeevs briefing to Union Commerce and Industry Minister Piyush Goyal in June 2024As the project progresses the remaining central assistance and land transfer are expected to be completed in phases IANS https://dailyworld.in/business/kerala-centre-sanctions-rs-300-crore-for-palakkad-industrial-smart-city-project-644752.html Fri, 24 Oct 2025 18:53:00 +0530 https://dailyworld.in/business/shanthi-gears-q2-net-profit-drops-16-pc-revenue-down-15-pc-644753.html Mumbai Oct 24 Gear manufacturing company Shanthi Gears part of the BSE Smallcap index on Friday reported a sharp decline of 16 per cent yearonyear YoY in its net profit for the September 2025 quarter Q2 FY26 The Tamil Nadubased companys profit fell to Rs 22 crore compared to Rs 26 crore in the same quarter last financial year Q2 FY25 according to its stock exchange filingRevenue also dropped more than 15 per cent yearonyear falling to Rs 132 crore from Rs 155 crore in the corresponding period of the previous fiscalThe companys earnings before interest tax depreciation and amortisation EBITDA came in at Rs 266 crore down 22 per cent from Rs 34 crore a year agoProfit margins also weakened declining to 202 per cent in the September quarter from 22 per cent in the same period previous fiscalFollowing the weak results Shanthi Gears stock witnessed sharp volatility in Fridays sessionWithin half an hour of the results announcement the stock touched both its intraday high and low levels It climbed to a days high of Rs 539 before slipping sharply to Rs 4949The previous closing price was Rs 5265 meaning the stock fell nearly 6 per cent after the results were announced From the days high the stock dropped over 8 per centAt the closing bell the stock was at Rs 520 down by Rs 685 or 130 per cent on the National Stock Exchange NSE on FridayAccording to information available on its website Shanthi Gears Limited is a manufacturer of industrial gears gearboxes and other power transmission productsThe company is founded over 50 years ago and known for its customised solutions and supplies to core sectors like steel cement and power IANS https://dailyworld.in/business/shanthi-gears-q2-net-profit-drops-16-pc-revenue-down-15-pc-644753.html Fri, 24 Oct 2025 18:54:00 +0530 https://dailyworld.in/business/26-495-domestic-departures-per-week-from-oct-26-march-28-new-airports-added-govt-644756.html New Delhi Oct 24 The government on Friday said the winter schedule for domestic airlines has been finalised and New Amravati Hissar Purnia and Rupsi airports have been added in the schedule According to the Ministry of Civil Aviation after the slot conference meeting held in September the final slots clearances have been received from respective airport operators which shows 595 per cent departures per week growth proposed compared to Winter Schedule 2024Winter Schedule 2025 WS25 effective from October 26 2025 till March 28 2026 of the scheduled domestic airlines has been finalised the ministry saidIt has been observed that there are 26495 departures per week which have been finalised tofrom 126 airports as per WS25 compared to 25610 departures per week from 129 airports in Summer Schedule 2025 SS25While IndiGo leads with 15014 departures per week Air India is second with 4277 flights followed by AI Express at 3171 flightsOut of these 126 airports Amravati Hissar Purnia and Rupsi are the new airports proposed by the scheduled airlines in the WS25 whereas operations from Aligarh Moradabad Chitrakoot Bhavnagar Ludhiana Pakyong and Shravasti airports were suspended in the WS25 the Civil Aviation Ministry addedIndias civil aviation sector has emerged as one of the fastestgrowing sectors making the country the thirdlargest domestic aviation market in the world The number of airports in the country has increased from 74 in 2014 to 163 in 2025As India moves toward its centenary year of independence the government is charting an ambitious growth path for the aviation sector which targets expanding the number of airports in the country from 163 in 2025 to over 350 by 2047 and passenger traffic is expected to cross one billionWith 25 million jobs projected by 2047 and expanding opportunities in MRO drone manufacturing and pilot training aviation will become a vital pillar of Indias 10 trillion economy IANS https://dailyworld.in/business/26-495-domestic-departures-per-week-from-oct-26-march-28-new-airports-added-govt-644756.html Fri, 24 Oct 2025 18:56:00 +0530 https://dailyworld.in/business/direct-flights-resumption-sign-of-stable-development-of-bilateral-relations-with-india-china-644760.html Beijing Oct 24 Citing the resumption of direct flights between China and India over the weekend Beijing on Friday said that it is willing to promote the continued healthy and stable development of bilateral relations The resumption of direct flights between mainland China and India is the latest progress in earnestly implementing the important consensus reached by the two leaders during their Tianjin meeting It is also a positive measure to facilitate friendly exchanges between the more than 28 billion people of China and India Chinese Foreign Ministry Spokesperson Guo Jiakun said during a regular media briefing on FridayChina is willing to work with India to view and handle ChinaIndia relations from a strategic and longterm perspective promote the continued healthy and stable development of bilateral relations better benefit the two countries and their peoples and make due contributions to maintaining peace and prosperity in Asia and the world he addedIndian airline IndiGo recently announced restarting daily flights between Kolkata and Guangzhou on October 26 becoming one of the first Indian carriers to resume direct service to China The announcement was made after the Ministry of External Affairs confirmed that India and China would restart direct flights between the designated citiesThe lowcost airline had also announced new daily direct flights between New Delhi and Chinas Guangzhou from November 10 The airline said that the route will be operated using Airbus A320 aircraftOn Thursday China Eastern Airlines announced the resumption of flights on its India route and the direct flights between Shanghai and Delhi starting from November 9 in fresh momentum for peopletopeople exchanges and economic and trade collaboration between New Delhi and BeijingThe service will operate three times weekly on Wednesdays Saturdays and SundaysThe flight from Delhi MU564 will depart at 755 pm arriving in Shanghai at 410 am the following day Flight MU563 from Shanghai Pudong International Airport will depart at 1250 pm and arrive at Indira Gandhi International Airport Delhi at 545 pm local time Tickets for the route are now available for sale the airline said in a statementThe Shanghai and Delhi route is one of the most strategically significant air links between India and China connecting the major economic and cultural hubs of both nationsThe resumption of this service marks the full restoration of China Eastern Airlines network in India IANS https://dailyworld.in/business/direct-flights-resumption-sign-of-stable-development-of-bilateral-relations-with-india-china-644760.html Fri, 24 Oct 2025 19:36:00 +0530 https://dailyworld.in/business/dot-focuses-on-building-phishing-resilient-ecosystem-to-safeguard-telecom-sector-644767.html New Delhi Oct 24 The Department of Telecommunications DoT on Friday organised a webinar as part of the National Cyber Security Awareness Month to promote awareness preparedness and resilience against evolving cyber threats in Indias telecom ecosystem The session hosted by the office of the Director General Telecom DGT HQ brought together over 250 participants including officials from DoT field units telecom service providers and internet service providers The event focused on strategies to counter phishing enhance cyber governance and strengthen organisational resilienceThe webinar was inaugurated by Sunita Chandra Director General of Telecom and attended by Suresh Puri Additional Director General DGT HQ along with other senior officers from DoT HQSpeaking on the occasion DG Telecom emphasised the collective responsibility of all stakeholders in ensuring cyber safety She underlined the importance of user awareness and proactive engagement in safeguarding digital assetsAddl DG Suresh Puri briefed participants on the ongoing efforts to operationalise the TelecomCSIRT Computer Security Incident Response Team and enhance readiness across DoT field units to tackle cyber incidentsCyber security expert Rohit Gautam highlighted that phishing remains among the most pervasive cyber threats globally responsible for nearly 90 per cent of data breaches He discussed how humancentric attacks including phishing vishing and deepfakeenabled scams exploit user trust leading to global losses estimated at over 95 trillion annuallyIndustry expert Abhijit Tripathy elaborated on the importance of Governance Risk and Compliance GRC frameworks in building cyberresilient organisations He explained how the synergy of people processes and technology can strengthen internal controls and minimise vulnerabilitiesAnother cyber expert Sampat Ray shed light on the growing menace of AIdriven cyberattacks including deepfakebased phishing malicious mobile applications and voice scams He urged organisations and individuals to remain alert against such sophisticated fraudsThe webinar successfully underlined the importance of collective responsibility informed decisionmaking and sustained vigilance in securing the nations telecom infrastructure IANS https://dailyworld.in/business/dot-focuses-on-building-phishing-resilient-ecosystem-to-safeguard-telecom-sector-644767.html Fri, 24 Oct 2025 19:43:00 +0530 https://dailyworld.in/business/indias-forex-reserves-surge-by-45-bn-to-cross-702-bn-mark-644768.html Mumbai Oct 24 Indias foreign exchange reserves rose by 45 billion to 7023 billion for the week ended October 17 mainly driven by an increase in the value of gold reserves according to data released by the Reserve Bank of India RBI on Friday Indias gold reserves held by the RBI as part of the countrys foreign exchange reserves surged by 62 billion to surpass the 1085 mark for the first time on the back of a sharp rise in the price of the precious metal and increased purchases by the central bankForeign currency assets the largest part of the reserves fell by 17 billion to 5704 billion during the week These assets are affected by changes in the value of currencies such as the euro pound and yen Indias reserve position with the International Monetary Fund IMF declined by 30 million to 462 billion during the week RBI data showedThe share of gold in Indias foreign exchange reserves has almost doubled over the past decade from below 7 per cent to nearly 15 per cent reflecting both steady central bank accumulation and a surge in global bullion prices This is the highest proportion of gold in the countrys total reserves since 199697 according to market analystsGold prices have shot up by as much as 65 per cent in 2025 due to the increased demand for the precious metal as a safe haven asset amid rising geopolitical uncertainty in the Middle East and the trade wars triggered by the US tariff hikesCentral banks worldwide have accumulated substantial amounts of gold as a safehaven asset in their foreign exchange reserves amid uncertainty created by geopolitical tensions The share of gold maintained by the Reserve Bank of India as part of its foreign exchange reserves has almost doubled since 2021The RBI has added approximately 75 tonnes to its gold reserves since 2024 bringing its total holdings to 880 tonnes which now constitute about 14 per cent of Indias total foreign exchange reserves according to a Morgan Stanley reportIndia is the worlds secondlargest consumer of gold next only to China and relies on imports to meet demand Buying gold is deeply rooted in Indian culture and is used in large quantities in the form of jewellery gifts for the bride and bridegroom during wedding ceremonies It also constitutes an important channel of safehaven investment and a status symbol for families and individuals IANS https://dailyworld.in/business/indias-forex-reserves-surge-by-45-bn-to-cross-702-bn-mark-644768.html Fri, 24 Oct 2025 19:44:00 +0530 https://dailyworld.in/business/indias-office-leasing-touches-a-record-high-outperforms-asian-peers-644774.html New Delhi Oct 24 Indias office market outperformed the AsiaPacific region in Q3 2025 with 88 million square feet of leasing activity defying broader slowdown trends a report said on Friday Fullyear leasing volumes of Bengaluru NCR and Mumbai together are expected to touch 50 million sq ft surpassing the previous record of 41 million sq ft set in 2024 the report from real estate services firm Knight Frank saidThis increase in leasing has driven prime rents higher increasing 43 per cent YoY across major cities despite the arrival of new supply it notedDespite a supply influx of nearly 9 mn square feet during the quarter prime office rents across Indias three largest office markets Bengaluru NCR and Mumbai rose an average of 43 per cent YoY highlighting the markets enduring strength the report saidAcross the APAC region prime office rents fell 14 per cent YoY with rental growth flatlining at 00 per cent QoQ down from 02 per cent in Q2 2025The surge in leasing volumes in India was also driven by commitments from global capability centres and a revival in thirdparty IT servicesBengaluru led in performance with prime rents increasing 88 per cent yearoveryear and 2 per cent quarteroverquarter driven by demand in areas like Outer Ring Road and Whitefield DelhiNCR and Mumbai posted 2 per cent QoQ growth with YoY increases of 3 per cent and 39 per cent respectivelyIn comparison several AsiaPacific markets saw muted rental growth as landlords prioritised occupancy amid elevated vacancies Indias strong performance reflects a resilient occupier base a diversified tenant profile and a stable economic outlook the report notedVacancy rates edged up marginally due to the new completions but remain in check at approximately 115 per cent in Bengaluru 125 per cent in Delhi and 173 per cent in MumbaiKnight Frank forecasted that Indias office market will maintain steady rental growth through 2026 supported by sustained economic fundamentals governmentled digital initiatives and the expansion of GCCs across TierI and emerging TierII cities IANS https://dailyworld.in/business/indias-office-leasing-touches-a-record-high-outperforms-asian-peers-644774.html Fri, 24 Oct 2025 19:49:00 +0530 https://dailyworld.in/business/nhai-to-display-monthly-annual-pass-details-at-toll-plazas-to-raise-user-awareness-644776.html New Delhi Oct 24 The National Highways Authority of India has directed its field offices to prominently display information regarding the availability of the Local Monthly Pass and the Annual Pass at all fee plazas to enhance transparency and raise user awareness the government informed on Friday The initiative aims to ensure that users are wellinformed about the availability rates and procedures for availing of the Local Monthly Pass and Annual Pass facility an official statement saidThe information will be displayed on signage boards at visible locations including fee plaza approaches customer service areas and entry or exit points in English Hindi and the local regional language the Ministry of Road Transport amp Highways saidNHAI has directed field offices under its jurisdiction to place these boards at fee plazas for 30 days and ensure that all signboards are clearly visible during the day and night as per applicable fee rules For wider dissemination the information will also be uploaded on the Rajmargyatra mobile application and corresponding NHAI project websitesLocal Monthly Pass can be availed by commuters with private vehicles residing within a 20 km or as applicable radius of a fee plaza by submitting an Aadhar card a Vehicle Registration Certificate and proof of residential address etcThe monthly pass is issued at the fee plaza helpdesk after verification of documents the ministry informedSimilarly the Annual Pass facility with a validity of one year or 200 fee plaza crossings is applicable only for private vehicles including cars jeeps or vansThe annual pass can be purchased through the Rajmargyatra application and is digitally activated on the valid FASTag attached to the vehicle after paying a onetime fee of Rs 3000 The annual pass is valid at around 1150 fee plazas on national highways and expressways across the country IANS https://dailyworld.in/business/nhai-to-display-monthly-annual-pass-details-at-toll-plazas-to-raise-user-awareness-644776.html Fri, 24 Oct 2025 20:45:00 +0530 https://dailyworld.in/business/reliance-to-comply-with-us-eu-sanctions-on-russian-oil-644795.html New Delhi Oct 24 Reliance Industries announced on Friday that it will comply with the EU guidelines on the import of refined products into Europe linked to the fresh sanctions that have been imposed on Russias crude oil exports The company also said that whenever there is any guidance from the Indian Government in this respect as always we will be complying fullyReliance is the largest importer of Russian crude oil in India which it processes into petroleum products such as petrol and diesel at the companys giant refinery in Jamnagar on the Gujarat coast for export and domestic use A large percentage of the crude throughput at the 35 million tonnes per annum refinery comprises Russian crudeThe Indian company has indicated that it will be diversifying its sources for crude imports to fill this gap and adjust the operations at the refinery accordingly to cater to the domestic and EU marketWe have noted the recent restrictions announced by the EU UK and the US on crude oil imports from Russia and export of refined products to Europe Reliance is currently assessing the implications including the new compliance requirements We will comply with the EUs guidelines on the import of refined products into Europe Whenever there is any guidance from the Indian Government in this respect as always we will be complying fully Reliance has consistently aligned itself with the objectives of ensuring Indias energy security the Reliance spokesperson saidThe Company remains fully committed to maintaining its longstanding and impeccable record of adherence to applicable sanctions and regulatory frameworks and will be adapting the refinery operations to meet the compliance requirements the spokesperson further statedAs is customary in the industry supply contracts evolve to reflect changing market and regulatory conditions Reliance will address these conditions while maintaining the relationships with its suppliers Reliance is confident that its timetested diversified crude sourcing strategy will continue to ensure stability and reliability in its refinery operations for meeting the domestic and export requirements including to Europe the spokesperson addedThe supply of Russian crude to major Indian refineries is likely to decline considerably following sanctions announced by the US against Rosneft and Lukoil Russias two biggest oil companiesAccording to a Bloomberg report Reliance has large quantities of crude from the US and the Middle East after the US imposed sanctions on the Russian oil companies These consignments are expected to arrive at Jamnagar in December or January IANS https://dailyworld.in/business/reliance-to-comply-with-us-eu-sanctions-on-russian-oil-644795.html Fri, 24 Oct 2025 21:50:00 +0530 https://dailyworld.in/business/lic-raises-stakes-in-tata-consumer-products-and-dabur-india-644801.html New Delhi Oct 24 Life Insurance Corporation of India LIC has increased its shareholding in two leading FMCG companies Tata Consumer Products and Dabur India according to regulatory filings made by both firms on Friday LIC increased its stake in Tata Consumer Products from 6633 per cent to 8645 per cent a 2012 percentage point increase Between July 11 and October 23 2025 more than 199 crore worth of equity shares were purchased as part of the additional investmentIn a similar vein LIC increased its stake in Dabur India by 2067 percentage points from 4918 per cent to 6985 per cent Between February 18 and October 23 of this year the public sector insurer acquired over 366 crore sharesThe action demonstrates LICs ongoing interest in Indias rapidly expanding consumer goods industry which has held up well in the face of wider market volatilityEarlier last month the LIC said that it had attracted strong investor interest on the first day after the government scrapped goods and services tax GST on individual traditional life insurance policiesAccording to reports the insurer received inflows totalling more than Rs 1100 crore in a single day This development is noteworthy because retail policyholders typically pay LIC about Rs 5000 crore in premiums each monthThe positive sentiment among policyholders and the potential boost for the insurance sector are demonstrated by the inflows observed on the first day following the tax reliefAccording to industry experts the elimination of GST has reduced the cost and increased the appeal of traditional life insurance plans for individual consumers which is anticipated to increase sales in the upcoming monthsEarlier this financial year LIC had reported a steady rise in both profit and premium incomeThe company posted a consolidated net profit of Rs 10957 crore in the AprilJune quarter Q1 of FY26 a 391 per cent increase compared to the same period previous year 9Q1 FY25 IANS https://dailyworld.in/business/lic-raises-stakes-in-tata-consumer-products-and-dabur-india-644801.html Fri, 24 Oct 2025 22:53:00 +0530 https://dailyworld.in/business/indias-ev-growth-accelerates-with-multi-fuel-push-report-644579.html New Delhi Oct 23 India is rapidly moving toward sustainable mobility through a mix of electric hybrid and alternative fuel vehicles a new report said on Thursday The data compiled by the India Energy Storage Alliance IESA titled Automotive Electrification in India Market Report was released under IESAs emobility initiative the India Electric Mobility Council IEMCAs the worlds fourthlargest automobile producer India is at a crucial turning point in its automotive journeyThe report highlights that while petrol and diesel vehicles still dominate the roads the shift toward cleaner mobility is gaining strong momentumGovernment policies industry investments and rising consumer awareness are all pushing the country toward a more sustainable transport futureSeveral states including Uttar Pradesh Maharashtra Karnataka and Tamil Nadu are leading the way in electric vehicle EV adoptionThese states together account for more than half of Indias total EV sales They are actively supporting the transition by promoting local EV manufacturing improving charging infrastructure and creating dedicated mobility clustersThe IESA report points out that Indias journey toward cleaner transport is unique because it is following a multifuel multipathway approachAlongside batterypowered electric vehicles there is growing interest in compressed natural gas CNG hybrid flexfuel and hydrogenpowered vehiclesEach of these technologies plays a role in reducing emissions and addressing different transportation needsTo support this shift the governments upcoming Corporate Average Fuel Efficiency CAF 3 norms set to take effect from April 2027 will reward automakers that produce more zero and lowemission vehiclesThese norms introduce new incentives known as volume derogation factors for vehicles powered by batteries hybrids and alternative fuelsDebmalya Sen President of IESA said that policy support is vital for driving this change and shaping consumer choicesHe added that while some states are advancing directly to zeroemission vehicles others are taking a gradual route through alternative fuels depending on their market readiness and infrastructure IANS https://dailyworld.in/business/indias-ev-growth-accelerates-with-multi-fuel-push-report-644579.html Fri, 24 Oct 2025 00:07:00 +0530 https://dailyworld.in/business/over-80-pc-women-believe-more-female-tech-leaders-can-improve-workplace-culture-report-644580.html New Delhi Oct More than 80 per cent of women believe more female leaders can improve workplace culture in the technology sector according to a report on Thursday The Women in Tech Report by Acronis a cybersecurity and data protection company uncovered gender gap perceptions in career development and leadership opportunitiesIt showed striking differences in how men and women perceive career opportunities workplace challenges and barriers to advancement in the technology sectorThe report showed that 82 per cent of women believe increasing female leadership would positively impact workplace culture However only 74 per cent of men agree with itThe 2025 survey highlights a consistent perception gap between men and women on the state of career opportunities in technologyWhile men generally view the industry as more equitable women report significant barriers tied to bias worklife balance and leadership opportunitiesOnly 60 per cent of women believed men and women have equal access to career development and growth compared to 75 per cent of men Over 60 per cent of women said worklife balance challenges significantly impact career progression for women while only 49 per cent of men agreeMore than 40 per cent of women cited bias and stereotypes as the main barrier for females starting cybersecurity careers compared to 33 per cent of menOur new survey findings shine a spotlight on just how differently men and women experience working in the tech industry said Alona Geckler SVP Business Operations and Chief of Staff at AcronisClosing the gender gap requires more than good intentions Organisations must recognise these disparities and design programs that expand leadership opportunities confront bias headon and create environments where worklife balance doesnt present any barriers that may potentially derail womens careers Geckler addedThe report is based on a global survey of more than 650 IT professionals across eight countries the US UK Switzerland Germany Spain Italy Singapore and Japan IANS https://dailyworld.in/business/over-80-pc-women-believe-more-female-tech-leaders-can-improve-workplace-culture-report-644580.html Fri, 24 Oct 2025 00:08:00 +0530 https://dailyworld.in/business/global-vc-investment-hits-120-billion-in-q3-led-by-ai-exit-activity-report-644587.html New Delhi Oct 23 Global venture capital investment reached 120 billion across 7579 deals in Q3 2025 marking the fourth consecutive quarter above 100 billion a report said on Thursday Artificial intelligence AI remained the leading sector for funding while exit activity rose to 1499 billion collectively accounting for a significant chunk of activity according to the report from global consultancy KPMGIndia experienced a banner quarter for exits in Q3 2025 with exit value surging to a high not seen in at least seven years Despite the soft VC investment in Q3 there continued to be optimism in the market given the growth in startup exit activity particularly in terms of IPO exits the report saidThe KPMG report said that due to Indias strong macroeconomic fundamentals and vibrant capital markets there is substantial optimism that VC investment will begin to rebound once trade uncertainties are resolvedFurther IPO activity is also expected to increase over the next few quarters in India the report addedMacros are still strong the capital markets are still vibrant and a lot of capital has been raised that will need to get deployedso funding should increase as uncertainties calm But investors will be focused heavily on the path to profitability and cash flows because without those you wont get a capital market exit said Nitish Poddar Partner and National Leader Private Equity KPMG in IndiaAI model development and AIpowered applications attracted the largest funding rounds while investors are also focusing on defence technology robotics health technology quantum computing and alternative energy Corporate VC participation rose to 586 billion with the United States at the forefront while software continued to dominate investment sectorsGlobal exit value increased from 1192 billion in Q2 to 1499 billion in Q3 marking the highest level since Q4 2021 IANS https://dailyworld.in/business/global-vc-investment-hits-120-billion-in-q3-led-by-ai-exit-activity-report-644587.html Fri, 24 Oct 2025 00:13:00 +0530 https://dailyworld.in/business/write-down-rules-specify-how-to-sit-and-wear-clothes-shradha-sharma-hits-back-at-taj-hotels-644592.html New Delhi Oct 23 Taj Hotels must write down rules specify how to sit and wear clothes said YourStory Founder and CEO Shradha Sharma on Thursday after being reprimanded for sitting in regular padmasana style at the fivestar hotels fine dining restaurant House of Ming in the national capital Speaking to IANS Sharma said that she still cant comprehend what was wrong with her choice of clothes footwear and the way she was sittingThis is like a general question in terms of how do we define etiquette and manners and if it was if you have rules and regulations which I dont think anyone was breaking then you write it down specify that you have to sit like this you have to wear clothes like this Sharma saidShe pointed out that people dont get questioned for being offensive being loud wearing but she was insulted while being properly dressed and wearing proper footwearFor the unversed Sharma who went to the Tajs fine dining House of Ming to have dinner along with her sister during Diwali was humiliated by the manager and asked to sit properly as other guests raised objections to her sitting crosslegged on the chairThe manager also insulted her for the choice of clothes traditional salwar kameez and footwear kolhapuri chappalsTaj Hotels declined to immediately comment on the matterWhoever was the guest where was I offending Who could see my foot Where was it visible Sharma told IANSShe also stated that had it been a big celebrity or political leader in her place they would have been saluted for being so humble and down to earthIf there was a big man in my place and especially if there was a man then he would say how authentic how groundedBut Im just a common person So this is wrong for me And people say shes being a gawar illiterate and she should go to dhaba and all thatOn the social media rants on her viral post that sitting crossedlegged on a chair at a fine dining is unhygienic she said My question is what is unhygienic about thisThe larger question is who fits in and who doesnt and why is it that the middle class never fits in Sharma said IANS https://dailyworld.in/business/write-down-rules-specify-how-to-sit-and-wear-clothes-shradha-sharma-hits-back-at-taj-hotels-644592.html Fri, 24 Oct 2025 00:16:00 +0530 https://dailyworld.in/business/indias-first-48v-li-ion-electric-hand-pallet-truck-unveiled-644596.html New Delhi Oct 23 Godrej Enterprises Groups Material Handling Equipment business on Thursday launched GEPT 20 Indias first 48V Liion powered electric hand pallet truck marking a significant leap in warehouse mobility and efficiency This announcement came at a time when Indias logistics sector is experiencing a surge in order volumes and the demand for faster safer operations The GEPT 20 is intended for the countrys evolving warehousing landscapeIt delivers three times higher productivity than conventional hand pallet trucks thanks to its fast lifting long runtime precise control and robust durability the company saidWith a runtime of over 4 hours on a single charge the GEPT 20 effortlessly handles loads up to 2 tonnesIts turtle speed mode ensures safe manoeuvring in highdensity workspaces making it ideal for modern warehouses retail backrooms and industrial facilitiesAt Godrej Enterprises Group we are driven by a vision to transform Indias industrial landscape through innovation efficiency and sustainabilityThe GEPT 20 is not just a product launchits a strategic step towards electrifying logistics and empowering businesses with smarter cleaner technologies said Anil Lingayat Business Head Material Handling Equipment Business Godrej Enterprises GroupBy introducing Indias first 48V Liion powered electric hand pallet truck were reaffirming our commitment to building futureready solutions that enhance productivity and contribute meaningfully to the nations green and selfreliant growth story he addedThe hand pallet truck powered by advanced Liion battery technology offers rapid charging zero maintenance and a longer lifecyclea clear upgrade over traditional alternativesThis launch aligns with Godrej Enterprises Groups commitment to sustainable innovation aiming to reduce the carbon footprint of supply chains while empowering Indias logistics and warehousing ecosystem Lingayat statedAs industries across manufacturing ecommerce retail and infrastructure scale up to meet rising domestic and global demand solutions like the GEPT 20 will play a critical role in enabling faster safer and cleaner operations a step forward in building the nations futureready green logistics IANS https://dailyworld.in/business/indias-first-48v-li-ion-electric-hand-pallet-truck-unveiled-644596.html Fri, 24 Oct 2025 00:21:00 +0530 https://dailyworld.in/business/govt-plans-to-nearly-double-number-of-airports-to-350-in-indias-aviation-vision-2047-644597.html New Delhi Oct 23 Indias civil aviation sector has emerged as one of the fastestgrowing sectors making the country the thirdlargest domestic aviation market in the world The number of airports in the country has increased from 74 in 2014 to 163 in 2025As India moves toward its centenary year of independence the government is charting an ambitious growth path for the aviation sector which targets expanding the number of airports in the country from 163 in 2025 to over 350 by 2047 and passenger traffic is expected to cross one billion according to an official statement issued on ThursdayWith 25 million jobs projected by 2047 and expanding opportunities in MRO drone manufacturing and pilot training aviation will become a vital pillar of Indias 10 trillion economy the statement saidThe UDAN Ude Desh ka Aam Nagrik scheme launched in October 2016 has now completed nine years of a success story that has revolutionised regional connectivity with 323 lakh flights carrying 156 crore passengers to smaller airportsUDAN has operationalised 649 routes and connected 93 aerodromes including 2 water aerodromes and 15 heliports across the country among which 12 airportsheliports are in the NorthEast region It has also integrated the Andaman Nicobar and Lakshadweep Islands into the national aviation networkAccording to the International Civil Aviation Organisation ICAO investments in aviation have a strong ripple effect on the economy For every rupee spent the sector generates more than three times that value in economic activity and supports over six times as many jobs in connected industriesToday the sector supports over 77 million jobs indirectly including 369000 jobs directly The demand for skilled personnelpilots engineers ground staff and logistics professionalsis expected to rise sharply With over 116 bilateral Air Service Agreements India is deepening global connectivity as Indian carriers expand internationally reinforcing the countrys position as an aviation hub in Asia Civil aviation is also driving FDI inflows technology transfer and Make in India initiatives in aircraft manufacturing ground handling and Maintenance Repair and Operations MRO servicesOver the past decade domestic air passenger traffic has grown 1012 per cent annually By 2040 the passenger traffic is expected to grow sixfold to around 11 billion Indias commercial airline fleet is predicted to grow from 400 aircraft in 2014 to around 2359 aircraft in March 2040 The total employment due to the aviation sector in 2040 is expected to be around 25 million emerging as a core engine of Indias journey towards becoming a developed economyAccording to NITI Aayog domestic travellers accounted for over 83 per cent of total tourism spending in 2019 a figure expected to rise to nearly 89 per cent by 2028 This shift shows how government initiatives like UDAN have bridged the infrastructure gap and made air travel accessible for millions connecting remote regions and making air travel affordable and accessibleThis reflects the governments efforts to make air travel affordable and inclusive supported by initiatives like UDAN This transformation has also reshaped Indias travel map Once remote destinations Kullu Darbhanga Hubballi and Shillongare now directly connected by air boosting local economies and regional tourism the statement added IANS https://dailyworld.in/business/govt-plans-to-nearly-double-number-of-airports-to-350-in-indias-aviation-vision-2047-644597.html Fri, 24 Oct 2025 00:22:00 +0530 https://dailyworld.in/business/vp-radhakrishnan-hails-surge-in-innovation-patents-644598.html New Delhi Oct 23 Vice President C P Radhakrishnan on Thursday hailed the countrys rise from the 81st position in 2015 to the 38th position in the Global Innovation Index 2025 noting the surge in patents scientific publications and technologyled growth During a meeting with Union Minister of State Independent Charge for Science and Technology and Earth Sciences Jitendra Singh and officials from the Ministries at Parliament House Radhakrishnan commended the Ministries for their role in strengthening Indias innovationdriven scientific ecosystem and advancing research in frontier technologiesThe VP was apprised of key initiatives and ongoing programmes of the Ministries aimed at promoting scientific research and innovation technology development and commercialisation advancements in biotechnology quantum computing and cybersecurity systems as well as meteorological services climate and ocean studies and disaster risk mitigationHe appreciated the countrys breakthroughs in vaccine development the BharatGenAI large language model and progress in quantum computingThe VP also emphasised the importance of ethical biotechnology research inspiring youth to pursue scientific careers and enhancing collaboration with industryHighlighting rapid improvements in weather forecasting and the vast potential of Indias blue economy he called for continued global partnerships to ensure India remains at the forefront of scientific advancementOn Tuesday Minister of Commerce and Industry Piyush Goyal along with senior officials of the Ministry called on Radhakrishnan at Parliament HouseDuring the meeting the President was briefed on the Ministrys key initiatives and ongoing activities including the current status of manufacturing and foreign trade efforts towards ease of doing business and major initiatives such as Make in India the PLI Scheme PM Gati Shakti National Master Plan Startup India the National Manufacturing Mission FTAs One District One Product industrial corridors SEZs and the protection of intellectual property rightsThe Vice President appreciated the Ministrys efforts in positioning India as a global hub for manufacturing and exports and emphasised the importance of coordinated action across departments to realise the vision of a Viksit Bharat IANS https://dailyworld.in/business/vp-radhakrishnan-hails-surge-in-innovation-patents-644598.html Fri, 24 Oct 2025 00:22:00 +0530 https://dailyworld.in/business/kerala-unveils-vision-2031-to-become-leading-industrial-hub-644602.html Thiruvananthapuram Oct 23 The Kerala government on Thursday released its landmark Vision 2031 document outlining an ambitious roadmap to transform the state into a major industrial powerhouse and a preferred destination for investment in India Industries Law and Coir Minister P Rajeeve presented the plan emphasising that structural reforms industrial corridors and innovation hubs will be central to strengthening the states secondary sectorAs part of the initiative the government plans to amend the Single Window Clearance Board Act to facilitate the creation of industrial townships and special investment zonesA Kerala University for Skill Development and Entrepreneurship will also be established under a publicprivate partnership model providing industryoriented education and fostering innovation and incubationThe plan envisions multiple sectorspecific industrial clustersThe Vizhinjam Outer Area Growth Corridor will leverage the ports potential with eight clusters and the VizhinjamKollamPunalur Growth Triangle spanning 1700 acres to create a portbased industrial ecosystem200 Global Capability Centres GCCs and innovation parks are planned to position Kerala as a global destination for hightech operationsKey projects include the Kochi Global City on 358 acres aimed at attracting corporate headquarters and financial institutions projected to generate 12 lakh direct and 36 lakh indirect jobsAn aerodefence and drone cluster near Thiruvananthapuram biotech and ESDM campuses in Malabar and a KannurKasaragod industrial corridor focusing on FinTech AI robotics handlooms and logistics are also part of the planOther strategic initiatives include a mega food processing park in Kollam a maritime and marine park in Alappuzha a medical biotech hub in Thiruvananthapuram and a Robotics and Gem amp Jewellery Park in ThrissurWayanad and Palakkad will host specialised clusters for coffee and graphenebased productsThe Green Hydrogen Valley project with hubs in Kochi and Thiruvananthapuram aims to promote sustainable industrial growthThe plan also focuses on MSME development proposing 50 campus industrial parks 100 private industrial parks and 25 expatriate industrial parks under the Mission One Lakh MSME Scaling Scheme with an aim to strengthen small enterprises and boost Keltrons turnover to Rs 2000 croreVision 2031 positions Kerala as a forwardlooking industrial hub combining infrastructure development technological innovation and human capital investment to drive longterm economic growth IANS https://dailyworld.in/business/kerala-unveils-vision-2031-to-become-leading-industrial-hub-644602.html Fri, 24 Oct 2025 00:26:00 +0530 https://dailyworld.in/business/iitdelhi-global-auto-majors-explore-solutions-to-chinas-rareearth-curbs-report-644353.html New Delhi Oct 22 Chinas restrictions on rare earths are driving a global transition to rareearthfree electric vehicle motors a recent report said adding that the Indian Institute of Technology IIT Delhi is also developing such alternative solutions With China out to hold the world at ransom by restricting the supply of rare earths major automakers in the US Germany Japan and India are developing EVs that do not use rare earths for their batteries the report from European Times saidIn India the IIT Delhi is putting efforts into developing motors that require fewer or no rare earth elements it addedGlobally auto majors from the US Europe and Japan including Tesla BMW General Motors Borowarner Jaguar Land Rover ZF Vitesco Renault Nissan MercedesBenz Toyota and Bentley are working on rareearthfree EV modelsTesla has cut heavy rare earths by 25 per cent per vehicle while BMW and others are progressing with magnetfree or lowrareearth designs MercedesBenz has reduced the heavy rare earth content in its nextgeneration electric vehicles close to 0 per cent the report saidBeijing imposed the latest curbs on rare earth elements and related technologies on October 9 following similar measures in 2018 and 2023 These actions have disrupted supplies of neodymium and dysprosium essential for permanent magnet motors and increased political and supplychain risksIn April 2025 when US President Donald Trump imposed additional tariffs on Chinese products Beijing imposed export controls on various heavy rare earth materials directed against the US and other countries including India putting the automobile sector in India in difficultyChina holds half of the worlds rare earth deposits which it uses to blackmail other nations the report saidThough in August Beijing withdrew its export restrictions on rare earth magnets to India till September 9 Indian companies were yet to have a single import application approved the report said IANS https://dailyworld.in/business/iitdelhi-global-auto-majors-explore-solutions-to-chinas-rareearth-curbs-report-644353.html Thu, 23 Oct 2025 00:08:00 +0530 https://dailyworld.in/business/lord-vishwakarma-credited-with-creation-of-craft-punjab-minister-644358.html Ludhiana Oct 22 Punjab Cabinet Minister Tarunpreet Singh Sond on Wednesday said Lord Vishwakarma is credited with the creation of craft architecture and engineering Addressing a statelevel function at Lord Vishwakarma Mandir here to observe Vishwakarma Day Sond said the global industrial and infrastructure development is a direct result of Lord Vishwakarmas blessings He further explained that the state government is focusing on skill development for the youth aiming to enable them to lead lives of dignity and selfrespect in line with Lord Vishwakarmas principles and teachings Lord Vishwakarma is revered as the supreme architect of the universe known as the master of all machinery and tools used in industrial processes Encouraging the public to emulate Lord Vishwakarmas teachings Sond said supporting skill development across the state will be a fitting homage to Lord Vishwakarma The minister outlined the transformative governments initiatives in education and health ensuring accessible highquality services for all He noted that 55000 government jobs have been transparently given to the youth 90 per cent of residents receive zero electricity bills and all 13246 villages in Punjab will soon have access to 3100 topclass playgrounds Sond also praised the states significant contributions to national security stating that despite comprising just 15 per cent of Indias population the state leads in sacrifices for the countrys safety Additionally he highlighted the success of the antidrug campaign Yudh Nasha Virudh Temple committee president Ranjit Kumar Salh urged the state government to assist the managing committee in completing the pending civil works of the temple building by releasing required funds which Sond announced a grant of Rs 10 lakh and assured full support in completing the pending civil works He also distributed sewing machines among needy women IANS https://dailyworld.in/business/lord-vishwakarma-credited-with-creation-of-craft-punjab-minister-644358.html Thu, 23 Oct 2025 00:13:00 +0530 https://dailyworld.in/business/only-joint-secy-dig-and-above-ranks-can-order-removal-of-content-from-social-media-govt-644373.html New Delhi Oct 22 The Ministry of Electronics and Information Technology on Wednesday announced that any intimation to social media platforms for the removal of unlawful information can now only be issued by a senior officer not below the rank of Joint Secretary equivalent or where such rank is not appointed a Director or an officer equivalent in rank In the case of police authorities only an officer not below the rank of Deputy Inspector General of Police DIG specially authorised can issue the intimationThe new rules will come into effect from November 1 2025This replaces the existing procedure of junior officials such as sub inspectors and assistant sub inspectors passing orders to remove content from social media platformsThese changes have been brought through fresh amendments to Rule 31d of the Information Technology Rules 2021 Additionally the ministry has proposed amendments to the IT Rules for addressing the menace of deepfakesIf an intermediary fails to comply take down notices sent under Section 79 3b of the IT Act the platform can lose its safe harbour provisions the provision under IT Act which gives such platforms immunity from content posted by third partyAdditionally the government has said that these notices or intimation that officers sent to platforms must clearly specify the legal basis and statutory provision the nature of the unlawful act and the specific URLidentifier or other electronic location of the information data or communication link content to be removedThis replaces the earlier broad reference to notifications with reasoned intimation to align the Rules with the requirement of actual knowledge as mandated under section 793b of the IT Act bringing clarity and precisionThis ensures that such actions remain necessary proportionate and consistent with lawThe government has also introduced that all intimations issued under Rule 31d will be subject to a monthly review by an officer not below the rank of Secretary of the Appropriate Government State or CentreMinister for Electronics and Information Technology Ashwini Vaishnaw said The change we have brought here we have raised the level of accountability in the governmentThis change will increase government transparency We will provide information with reasons when information is provided Orders will be passed through a seniorlevel officer There were demands in Parliament and on numerous other forums that deep fakes were causing great harm to society Peoples personal lives and privacy were being violatedFor this social media platforms will have to put labels he addedThis amendment also comes at a time when platforms like X have approached courts over content take down notices sent by the government under Section 79 3 b of the IT Act A common complaint of such platforms has been that any officer has had the power to send take down notices under this specific provision the ActThese amendments strengthen the framework of due diligence obligations of intermediaries under the Information Technology Act according to the official statementSpecifically the amendments to Rule 31d introduce additional safeguards to ensure that removal of unlawful content by intermediaries is carried out in a transparent proportional and accountable manner the statement saidThe amendments strike a balance between the constitutional rights of citizens and the legitimate regulatory powers of the State ensuring that enforcement actions are transparent and do not lead to arbitrary restrictions the statement added IANS https://dailyworld.in/business/only-joint-secy-dig-and-above-ranks-can-order-removal-of-content-from-social-media-govt-644373.html Thu, 23 Oct 2025 00:23:00 +0530 https://dailyworld.in/business/indias-effort-to-develop-7-nm-processor-will-boost-chip-design-capabilities-govt-644376.html New Delhi Oct 22 India is now progressing in advanced chip design with an initiative to create a 7nanometre processor to strengthen the countrys readiness for future fabrication fab integration the government said on Wednesday This marks a crucial advancement in the countrys pursuit of semiconductor selfreliance and represents a major leap in semiconductor design with higher transistor density and enhanced computing efficiency an official statement saidThe Indian Institute of Technology IIT Madras has developed a processor under its SHAKTI programme based on an opensource instruction set architectureDesigned for high performance and energy efficiency the 7 nm processor targets server applications across financial services communications defence and strategic sectorsThe indigenous 7 nm processor design initiative marks Indias entry into advanced node RampD placing it among the emerging nations advancing research and design at cuttingedge technology nodes such as those pioneered by the United States Taiwan and South Korea the statement saidThe Ministry of Electronics and Information Technology coordinates the SHAKTI project aligning with the India Semiconductor MissionThis mission has approved 10 semiconductor projects under a Rs 76000 crore plan with investments exceeding Rs 16 lakh crore having been approved across six statesThe government said that the design will enhance readiness for future fabrication integration and support emerging technologies like 5G artificial intelligence and supercomputing and decrease dependence on imported chips for critical applicationsThe statement also outlined a future roadmap with initiatives for sub7 nm research the establishment of advanced design testing and packaging facilities and the expansion of skilled employment through semiconductor initiatives under the Ministry of Electronics and Information TechnologyBy bridging innovation academia and industry India is laying the foundation for a globally competitive semiconductor ecosystem Through sustained RampD and strategic investment the nation is set to emerge as a vital hub in the global semiconductor value chain the statement noted IANS https://dailyworld.in/business/indias-effort-to-develop-7-nm-processor-will-boost-chip-design-capabilities-govt-644376.html Thu, 23 Oct 2025 00:27:00 +0530 https://dailyworld.in/business/india-calls-for-closer-south-south-ties-in-critical-minerals-fertilisers-644386.html Geneva Oct 22 Commerce Minister Piyush Goyal on Wednesday called for greater SouthSouth cooperation in critical minerals access fertilisers and supply chain management In his address at the 16th session of the United Nations Conference on Trade and Development UNCTAD Goyal said We believe global SouthSouth cooperation converted into concrete action can provide genuine and long lasting solutions in several areas of current concern like the critical minerals problem or the problems of adequate supply of fertilisers that many nations in the world are confronted withThe ministers comment comes against the backdrop of Chinas dominance over rare earth elements used to manufacture electric vehicles mobile phones other electronic goods and defence hardware The communist giant has imposed restrictions on the supply of these crucial inputs which have disrupted supply chains worldwideThe minister also highlighted critical global challenges These erode trust in multilateral institutions and the rulesbased trading system Issues include nonmarket practices tariff and nontariff barriers and overconcentration of supply chains at the source and demand sidesOther challenges include dilution of special and differential treatment and unilateral environmental measures apart from the technological divide with restrictive controls Restrictive policies have hit the services sector In this developing countries suffer the most and there is a need for the Global South to speak with one voice he observedGoyal underscored Indias vision of a rulesbased multilateral system that fosters mutual prosperity resilience and inclusive growth for all nationsHe further stated that India is a pioneer trusted by the developing countries and developed world alike for its independent policies growth and commitment to progress UNCTAD can play a key role in harnessing trade for equitable inclusive sustainable development he said as he offered support to developing nations in technology cooperation and building resilient supply chainsGoyal underlined Indias sustainability leadership Half its installed power capacity comes from renewables Current clean energy stands at 250 GW with the aim to install 500 GW by 2030 India is taking measures against climate change impacts Yet it contributes only 35 per cent to global emissions despite hosting 17 per cent of the worlds population He noted that developed countries have not fulfilled Paris commitments including in providing 100 billion in lowcost longtenure finance and technology transfers He rejected burdenshifting or environmental trade barriersStressing a dedicated approach to sustainable development he said that this includes tailored actionable solutions Key global initiatives feature the Coalition for Disaster Resilient Infrastructure International Solar Alliance and Global Biofuels Alliance building partnershipsOn the sidelines of the conference Goyal held a bilateral meeting with the European Commission for Clean Just and Competitive Transitions Executive Vice President Teresa Ribera Rodriguez He discussed the impact of the Carbon Border Adjustment Mechanism CBAM on Indian exports especially the steel sector and ensuring that the clean transition does not create dependencies In his meeting with UNCTAD Secretary General Rebecca Grynspan the emphasis was on advancing UNCTADs role in equitable economic transformation the deficiency in meeting the Paris Agreement commitments by developed countries unjustified unilateral measures and SouthSouth cooperation IANS https://dailyworld.in/business/india-calls-for-closer-south-south-ties-in-critical-minerals-fertilisers-644386.html Thu, 23 Oct 2025 00:38:00 +0530 https://dailyworld.in/business/survey-vehicles-to-map-road-defects-of-over-20-000-km-of-national-highways-ministry-644393.html New Delhi Oct 22 The National Highways Authority of India NHAI will deploy Network Survey Vehicles in 23 states to survey 20933 kilometres of National Highways in order to gather detailed road inventory and pavement condition data to expedite corrective maintenance a government statement said on Wednesday The deployment of NSVs will enable the NHAI to collect necessary data related to road inventory and pavement condition including all relevant road defects like surface cracking potholes and patches etc the Road Transport amp Highways Ministry statement saidThe data collected through NSV surveys will highlight deficiencies in road conditions prompting the NHAI to take corrective measures for better upkeep of National Highways enhancing the riding experience of the commuters it addedA 3D laserbased NSV system is capable of capturing and reporting road defects automatically without any human intervention with the help of highresolution 360degree cameras differential GPS inertial measurement units and distancemeasuring indicatorsOnboard data acquisition and processing software will generate inventory and pavement reports for two four six and eightlane projectsTo implement this initiative the NHAI has invited bids from qualified companies the statement notedSurvey data will be uploaded to the NHAIs AIbased Data Lake for analysis by a dedicated expert team converting the information into actionable insights for road maintenance and asset management The ministry said that results will be stored in the Road Asset Management System in designated formats for future useNHAIs Rajmargyatra app enables users to gift the FASTag annual pass the government said earlier this week urging citizens to consider this perfect gift for travellers during the Diwali and festive seasonFASTag annual pass provides a seamless and economical travel option to the National Highway users and is applicable on about 1150 toll plazas across India The annual pass costs Rs 3000 and is valid for one year or up to 200 toll plaza crossings IANS https://dailyworld.in/business/survey-vehicles-to-map-road-defects-of-over-20-000-km-of-national-highways-ministry-644393.html Thu, 23 Oct 2025 00:42:00 +0530 https://dailyworld.in/business/indigo-kolkatasrinagar-flight-makes-emergency-landing-in-varanasi-after-mid-air-technical-glitch-644397.html New Delhi Oct 22 An IndiGo flight from Kolkata to Srinagar made an emergency landing at Varanasi airport on Wednesday following a technical issue detected midair the airline said Flight 6E6961 carrying 166 passengers and crew members landed safely at the Lal Bahadur Shastri International Airport in Varanasi All passengers were safely evacuated after the landing the airline saidOn October 22 2025 IndiGo flight 6E 6961 operating from Kolkata to Srinagar made a precautionary landing at Varanasi Airport due to a suspected technical issue As a safety measure the aircraft has been grounded for necessary checks and an alternate aircraft has been arranged to continue the journey an Indigo spokesperson saidAt IndiGo the safety of our passengers crew and aircraft is our top priority We appreciate our customers patience and cooperation as our teams work to minimise any inconvenience the spokesperson addedEarlier last month a Delhibound IndiGo aircraft carrying more than 150 passengers aborted takeoff at Lucknow airport after a technical issue was detectedIndiGo flight 6E2111 which was slated to take off from Lucknow to Delhi was the scene of the incidentThe airline claims that as the aircraft was accelerating on the runway the operating crew became aware of a technical issueThe pilots cancelled the takeoff and brought the aircraft back to the bay as a precautionWitnesses reported tense moments as the plane accelerated before abruptly stopping Nevertheless no injuries were reported and passengers disembarked without incidentLater the airline made arrangements for the stranded passengers to board a different aircraftThis is only a week after a technical issue forced the return of another IndiGo flight from Kochi to Abu Dhabi shortly after takeoff A replacement plane was set up after that aircraft which was carrying over 180 passengers made a safe landing IANS https://dailyworld.in/business/indigo-kolkatasrinagar-flight-makes-emergency-landing-in-varanasi-after-mid-air-technical-glitch-644397.html Thu, 23 Oct 2025 00:46:00 +0530 https://dailyworld.in/business/railways-to-run-1-500-extra-trains-in-next-5-days-to-clear-chhath-festive-rush-644405.html New Delhi Oct 22 The Indian Railways plans to run 1500 special trains during the next five days with an average of 300 specials per day to cater to the surge in passengers ahead of Chhath festivities according to an official statement issued on Wednesday These special trains will be operated in addition to the regular train services that are already running to these destinationsAs travel surges for the Chhath festival ahead Indian Railways are going the extra mile to ensure that all travellers reach their destination safely and comfortably the statement saidIndian Railways stepped up the running of special trains for the Diwali season this year Besides regular trains 4493 special train trips were operated in the last 21 days averaging 213 trips daily which helped the passengers reach home safely for Diwali festivities the statement saidFor the upcoming Chhath Puja and ongoing Diwali season this year the railways are running a robust special train schedule to manage the festive travel rush Over a duration of 61 days from October 1 to November 30 more than 12000 special trains are being operated across the country So far a total of 11865 trips 916 trains have been notified including 9338 reserved and 2203 unreserved trips according to the statementThis marks a significant increase from last year when 7724 Puja and Diwali special trains were runOn October 19 the Railways facilitated over 36000 passengers at Udhna Station in Gujarat a 50 per cent increase from the same day in 2024 All passengers boarded trains by 4 pm reaching home in time to celebrate Diwali with their families To manage the surge coordinated efforts were made to control crowds A dedicated holding area and numerous ticket counters were set up for passenger convenience Over the last five days more than 12 lakh people travelled from Udhna the statement added IANS https://dailyworld.in/business/railways-to-run-1-500-extra-trains-in-next-5-days-to-clear-chhath-festive-rush-644405.html Thu, 23 Oct 2025 00:51:00 +0530 https://dailyworld.in/business/bok-holds-key-rate-steady-for-3rd-time-amid-surging-home-prices-weaker-won-644438.html Seoul Oct 23 South Koreas central bank kept its benchmark interest rate unchanged on Thursday to maintain financial stability amid a redhot housing market and a weakening currency In a widely expected decision the Monetary Policy Board of the Bank of Korea BOK held its key rate steady at 25 per cent during its ratesetting meeting in Seoul reports Yonhap news agencyIt marked the third consecutive onhold decision though the BOK has stressed the need to support the economic recovery through monetary easingIt is necessary to further monitor financial stability conditions such as the effects of real estate market stabilisation measures on housing markets in Seoul and its surrounding areas and on household debt as well as exchange rate volatility the BOK said in a released statementFive out of the boards six members supported the rate freeze decision while four of them voiced the need to keep open the possibility of further rate reductions in the next three months BOK Gov Rhee Changyong told a press briefingThe central bank began its monetary easing cycle in October last year cutting the key interest rate by a total of 100 basis points since then with the most recent reduction implemented in MayBut its policy room has been limited as surging home prices in Seoul and nearby areas have fueled household debtReal estate prices in Seoul and the greater Seoul area are too high considering income levels and the need to maintain social stability I believe current real estate prices are eroding economic growth Rhee saidEconomic growth remains low and the current environment does not really allow for a rate freeze But the reduction in borrowing costs could accelerate the real estate market By keeping rates on hold we signal that the pace and magnitude of a rate cut would likely be gradual he addedThe median expectation is now for an additional rate cut in November before a prolonged pauseThe government has rolled out a series of measures to cool the real estate market Most recently the government designated 21 additional districts in Seoul as speculative zones bringing all 25 districts in the capital under tougher regulationsIt also tightened lending rules lowering the mortgage loan cap to as little as 200 million won US139600 from 600 million won set in JuneOutstanding household loans extended by South Korean banks have continued to rise reaching a record high of 11702 trillion won at the end of last month though their growth has slowed due to stricter regulationsThe countrys household debttoGDP ratio stood at 897 percent as of endJune up 03 percentage point from three months earlier marking the first onquarter increase in the ratio in 15 quartersThe wons slide has also been a key concern for policymakersThe local currency has fallen well below 1420 per dollar its lowest level in months amid the continued strength of the US dollar and uncertainties surrounding tariff negotiations with the United States and a rate cut could further weaken the won and trigger capital outflowsThe local currency opened at 14318 per dollar Thursday down 2 won from the previous sessionI expect the currency to ease somewhat if tariff talks are concluded and uncertainty diminishes But we need to see specifics regarding the pledged 350 billion in investment funds among other details Rhee said Our focus is not on the level itself but on curbing volatilityIn July Seoul and Washington reached a framework deal in which the US would impose a 15 percent tariff on South Korean goods rather than the initially threatened 25 percent while Seoul would create a 350 billion fund for US investments IANS https://dailyworld.in/business/bok-holds-key-rate-steady-for-3rd-time-amid-surging-home-prices-weaker-won-644438.html Thu, 23 Oct 2025 09:36:00 +0530 https://dailyworld.in/business/sensex-surges-700-points-nifty-reclaims-26-000-as-it-stocks-lead-market-rally-644442.html Mumbai Oct 23 Indian stock markets opened on a strong note on Thursday even as global cues remained mixed The benchmark indices Sensex and Nifty started the session with solid gains driven largely by strength in IT stocksThe Sensex opened 72781 points higher at 8515415 while the Nifty reclaimed the 26000 mark opening 1886 points higher at 2605720For now upside objective is set at 26186 with 26800 appearing as an optimistic objective market experts saidMeanwhile downside marker is placed at 25780 but an outright reversal is not expected today they addedAmong the top performers on the BSE were Infosys HCLTech and Tech Mahindra which saw healthy buying interestOn the other hand Bajaj Finserv Maruti and Power Grid were among the major laggardsSimilar trends were seen on the NSE where Infosys HCLTech and Tech Mahindra led the gains while IndiGo Eicher Motors and Sun Pharma Life witnessed selling pressureBroader market indices also traded higher with the Nifty SmallCap 100 rising 033 per cent and the Nifty MidCap 100 climbing 044 per centSectorwise the Nifty IT index emerged as the top gainer up 184 per cent while the Nifty Realty index was the only one in the red slipping 008 per centAnalysts said that investors showed renewed optimism in the market with strong buying seen in technology shares supporting the early trade momentumReports of an imminent trade deal between India and US is doing the rounds in market circles and the market reaction through Nifty implied open confirms this experts saidComments from President Trump and responses from PM Modi indicate an early trade deal The expected deal involves some concessions from both sides they addedMeanwhile the Foreign Institutional Investors FIIs extended their buying streak for the fifth consecutive session on October 21 as they bought equities worth Rs 96 crore IANS https://dailyworld.in/business/sensex-surges-700-points-nifty-reclaims-26-000-as-it-stocks-lead-market-rally-644442.html Thu, 23 Oct 2025 09:48:00 +0530 https://dailyworld.in/business/gold-shines-on-mcx-amid-hopes-of-indiaus-trade-deal-rupee-opens-stronger-644446.html Mumbai Oct 23 Gold prices rose on the Multi Commodity Exchange MCX on Thursday morning amid reports that India and the United States may soon sign a trade deal The optimism over the potential agreement lifted investor sentiment in precious metalsIn the early trade MCX Gold December futures were trading 089 per cent higher at Rs 122938 per 10 gramsSimilarly MCX Silver December contracts gained 093 per cent to trade at Rs 146915 per kilogramAccording to analysts MCX gold prices for the December expiry are expected to move in a range of Rs 121500 to Rs 123000 per 10 gramsHowever in the global market gold prices edged lower due to a stronger US dollar as investors awaited key inflation data from the United States later this weekThe data is likely to influence the Federal Reserves next move on interest ratesAs of 310 am GMT spot gold was down 02 per cent at 408429 per ounce while US gold futures for December delivery rose 09 per cent to 410090 per ounceThe US dollar index gained 02 per cent against major currencies making gold more expensive for foreign buyersGold price after a significant rise moved into a new phase and continuous to be in highlights for being volatile but on the opposite side analysts saidOn track for its biggest yearly rise since 1979 golds 54 per cent rise YTD has seen it break through key psychological resistance levels at 3000 per troy ounce in March and 4000 in October they addedMeanwhile the Indian rupee opened stronger after the Diwali break supported by optimism surrounding the trade deal talks with the USThe rupee opened at 8783 against the dollar up 10 paise from its previous close of 8793Currency and bond markets had remained closed on October 21 and 22 due to Diwali holidays IANS https://dailyworld.in/business/gold-shines-on-mcx-amid-hopes-of-indiaus-trade-deal-rupee-opens-stronger-644446.html Thu, 23 Oct 2025 10:22:00 +0530 https://dailyworld.in/business/indian-investors-earn-up-to-72-pc-returns-from-global-mutual-funds-644451.html New Delhi Oct 23 Indian investors who explored opportunities beyond domestic equities have seen impressive gains over the past year with several international mutual funds and fundoffunds FoFs delivering returns as high as 72 per cent These funds outperformed even the bestperforming Indian equity categories thanks to global rallies driven by technology artificial intelligence consumer spending and commoditiesAccording to data from ACE Mutual Fund as of October 20 the top 10 international funds delivered oneyear returns ranging between 33 per cent and 72 per centIn comparison the benchmark Nifty rose only 57 per cent during the same periodThe Mirae Asset NYSE FANG ETF FoF topped the chart with a stellar oneyear return of 7178 per cent and a threeyear return of 6272 per centClose behind was the Invesco Global Consumer Trends FoF which surged 5265 per cent benefiting from the strong performance of global consumer brands and digital commerce companiesBroader USfocused strategies also posted solid gains The Mirae Asset SampP 500 Top 50 ETF FoF returned 4991 per cent while the Motilal Oswal Nasdaq 100 FoF delivered 4248 per cent in a yearDiversification beyond technology also proved rewarding The DSP World Mining Overseas Equity FoF gained 3283 per cent supported by higher global commodity prices and improved capital discipline among leading mining companiesOverall global diversification has clearly paid off for Indian investors this year as international markets especially those driven by AI technology and resources delivered far stronger returns than domestic equitiesMeanwhile gold and silver prices stabilised around 4050 and 48 per ounce after a sharp correction in the last two session as investors booked profits from Monday record highsThe pullback reflected a shift toward risk assets amid optimism over USIndia trade relations weakening golds safehaven demand Seasonal demand in India also eased putting pressure on physical markets experts noted IANS https://dailyworld.in/business/indian-investors-earn-up-to-72-pc-returns-from-global-mutual-funds-644451.html Thu, 23 Oct 2025 10:48:00 +0530 https://dailyworld.in/business/apple-ships-record-49-million-iphones-to-india-in-q3-2025-644455.html New Delhi Oct 23 Riding high on the success of its new iPhone 17 series and festive season demand Apple Inc recorded its highestever quarterly shipments to India sending 49 million smartphones to the country during the JulySeptember quarter of 2025 Q3 CY25 According to research firm Omdia this marks a 47 per cent yearonyear YoY growth and represents Apples strongest performance in the Indian market to dateWhats more India accounted for 9 per cent of Apples total global iPhone shipments in the quarter the highest share ever for the country underscoring Indias growing importance in the companys global strategyThe launch of the iPhone 17 series on September 9 played a key role in driving record salesThe new lineup features major camera upgrades including a 48MP Fusion Main camera and a 48MP Fusion UltraWide lens alongside a 63inch Super Retina XDR display with ProMotionThe device also comes with the new A19 chip for enhanced performance and Ceramic Shield 2 technology offering three times better scratch resistance and reduced glareApple is expected to post its highestever festive quarter in India this year with analysts forecasting a 28 per cent increase in sales compared to last year driven by the early popularity of the iPhone 17 seriesThis milestone comes on the heels of another major achievement for the Cupertinobased company record iPhone exports from IndiaIn the AprilSeptember period of the current financial year Apple shipped iPhones worth about 10 billion over Rs 88500 crore marking a 75 per cent growth compared to the same period last year according to industry estimatesThe success reflects the strong push of the governments Make in India and productionlinked incentive PLI schemes which have encouraged Apple to expand its manufacturing base in Tamil Nadu and KarnatakaA majority of the iPhones produced in India this year nearly 78 per cent were exported to the US up from 53 per cent a year earlier IANS https://dailyworld.in/business/apple-ships-record-49-million-iphones-to-india-in-q3-2025-644455.html Thu, 23 Oct 2025 11:18:00 +0530 https://dailyworld.in/business/iit-madras-joins-applied-materials-india-to-boost-indias-semiconductor-innovation-644468.html New Delhi Oct 23 The Indian Institute of Technology IIT Madras on Thursday announced a partnership with Applied Materials India to deploy the AppliedTwin digital twin framework to advance cuttingedge semiconductor research and workforce development The AppliedTwin platform is a sophisticated digital twin solution designed to model and optimise semiconductor manufacturing equipment and processes the institute saidOn Thursday a handson workshop on AppliedTwin was conducted at IIT Madras drawing participation from more than 150 students and faculty members IIT Madras and the Tamil Nadu government are planning to establish a semiconductor fabrication facility with integrated reliability and packaging capabilitiesDeployment of AppliedTwin digital framework at IIT Madras marks a major leap toward strengthening Indias semiconductor RampD infrastructure and building an industryready workforce the release saidProf V Kamakoti Director IIT Madras said that the AppliedTwin framework will enable faculty and students to accelerate concept creation prototyping testing and process exploration virtually thereby reducing RampD cost and time significantlyBy integrating advanced digital twin technologies into our curriculum and research we aim to contribute significantly to the countrys goal of becoming a global hub for semiconductor design and manufacturing Kamakoti saidThe foundational software powering AppliedTwin is designed to foster collaboration and build an innovation network across suppliers government customers and RampD institutionssupporting the development of Indias semiconductor ecosystemThe software solution offered to IIT Madras includes a multiphysics modelling tool and TOPO a topography simulatorStudents across institutions and MSMEs can access the software through the IITM platform through Swayam Plus the release notedWith access to virtualised semiconductor process experimentation students and researchers will gain handson understanding of real fabrication workflows before Indias physical FAB infrastructure reaches full scale the institute said IANS https://dailyworld.in/business/iit-madras-joins-applied-materials-india-to-boost-indias-semiconductor-innovation-644468.html Thu, 23 Oct 2025 11:56:00 +0530 https://dailyworld.in/business/deendayal-antyodaya-yojana-nrlm-enabling-rural-poverty-alleviation-womens-empowerment-644471.html New Delhi Oct 23 The Deendayal Antyodaya Yojana National Rural Livelihood Mission DAYNRLM is a key programme working to alleviate poverty in Indias rural areas and empowering women said the government on Thursday The flagship poverty alleviation programme is being implemented by the Ministry of Rural Development to reduce poverty by enabling poor households to access gainful selfemployment and skilled wage employment opportunities resulting in sustainable and diversified livelihood options for the poorIt mobilises rural poor households into Self Help Groups SHGs and continuously nurtures and supports them to take economic activities till they attain an appreciable increase in incomeThe mission launched in 2016 has so far mobilised 1005 crore rural households into 909 lakh SHGs across India the government said in an official statementIt has also supported 46 crore female farmers and 374 lakh enterprises through various entrepreneurship programmesOther key achievements include the deployment of 35 lakh Krishi Sakhis and Pashu Sakhis the formation of 6000 integrated farming clusters 195 lakh producer groups benefiting over 50 lakh rural women 374 lakh enterprises supported in 282 blocksFurther women SHGs accessed Rs 11 lakh crore in loans since 201314 while 47952 Bank Sakhis were employed in the bank branches to facilitate credit linkage of the SHGsThe mission also promoted sustainable livelihoods through agriculture nontimber forest produce livestock and nonfarm enterprisesThe DAYNRLM has become a cornerstone of rural poverty alleviation and womens empowerment in India It has expanded access to formal credit skills and market opportunities enabling sustainable livelihoods and financial resilience the government saidThrough focused initiatives in skill development entrepreneurship and convergence with key government schemes NRLM has diversified income sources and strengthened the rural economyIts robust monitoring systems strong SHGbank linkages and capacitybuilding measures ensure transparency and accountability making it a powerful driver of inclusive growth and improved living standards in rural communities the government saidNational Rural Livelihood Mission NRLM was launched in 2010 as a missionmode scheme by restructuring the erstwhile Swarnajayanti Grameen Swarojgar Yojana SGSYIn 2016 the programme was renamed Deendayal Antyodaya Yojana National Rural Livelihood Mission DAYNRLM The central and state governments jointly fund this centrally sponsored scheme It is one of the worlds largest initiatives aimed at improving the livelihoods of the poorThe Mission is also working to empower SHG women through awareness generation and behaviour change communication on issues such as domestic violence womens education and other genderrelated concerns nutrition sanitation health etc IANS https://dailyworld.in/business/deendayal-antyodaya-yojana-nrlm-enabling-rural-poverty-alleviation-womens-empowerment-644471.html Thu, 23 Oct 2025 12:20:00 +0530 https://dailyworld.in/business/bhai-dooj-generates-rs-22-000-crore-in-business-across-india-cait-644474.html New Delhi Oct 23 The festival of Bhai Dooj brought festive cheer and strong business momentum across India this year generating an estimated Rs 22000 crore in trade according to the Confederation of All India Traders CAIT on Thursday Delhi alone contributed nearly Rs 2800 crore to this massive festive turnover as people celebrated the special bond between brothers and sisters with gifts sweets and traditional ritualsBhai Dooj a festival that marks the love and affection between siblings was celebrated with great enthusiasm across cities towns and villages on ThursdayFrom applying tilak and exchanging gifts to family gatherings and festive feasts the day was filled with joy and togethernessMarkets across major cities including Delhi Mumbai Jaipur Ahmedabad Lucknow Kolkata Chennai Hyderabad Bengaluru Pune and Indore witnessed heavy footfall as shoppers flocked to buy sweets gifts apparel jewellery and festive itemsAccording to CAIT key categories that saw strong demand included sweets and dry fruits garments and sarees jewellery and accessories electronics home appliances and gift hampersTravel cab services restaurants and hotels also reported a surge in business activityPraveen Khandelwal Member of Parliament from Chandni Chowk and National Secretary General of CAIT said that Bhai Dooj not only strengthens family relationships but also contributes significantly to Indias economyBhai Dooj is not merely a family festival it is the very soul of Indian culture that reinforces the spirit of love sacrifice and respect within familial relationships he saidKhandelwal added that this years celebrations also supported the governments Vocal for Local and Aatmanirbhar Bharat initiatives as traders encouraged the sale of indigenous productsCAIT reported that sales of Swadeshi goods rose by nearly 50 per cent compared to last year with strong demand for traditional sweets handcrafted gifts dry fruits and handloom garmentsHighlighting the wider economic impact Khandelwal noted that such festivals showcase the resilience of Indias noncorporate and nonagricultural sector which plays a vital role in driving the countrys growthCAIT believes that occasions like Bhai Dooj not only promote social harmony but also rejuvenate Indias traditional market culture by inspiring consumers to choose Swadeshi products strengthening the spirit of selfreliance in the Indian economy IANS https://dailyworld.in/business/bhai-dooj-generates-rs-22-000-crore-in-business-across-india-cait-644474.html Thu, 23 Oct 2025 12:33:00 +0530 https://dailyworld.in/business/real-estate-fundraising-hits-7-year-high-in-fy25-report-644476.html New Delhi Oct 23 Indias real estate sector raised Rs 23080 crore in capital through 12 deals in FY25 reaching a sevenyear high a report said on Thursday Total fundraising in the real estate sector since FY18 reached Rs 72331 crore with Real Estate Investment Trusts REITs leading the sector raising Rs 31241 crore according to the report from the investment banking firm Equirus CapitalREITs were followed by largecap real estate firms at Rs 20437 crore midcap real estate firms at Rs 12496 crore and smallcap companies at Rs 8156 croreREITs achieved the highest returns in the past 12 months at 213 per cent surpassing all other real estate asset classes Large mid and smallcap real estate stocks posted negative returns during the same periodHowever smallcap real estate stocks have outperformed other players in terms of returns since March 2021 with midcap stocks following Largecap stocks have underperformed these segments with REITs being the lowestperforming equity instrument the release notedEarlier this month an Anarock report said that Indias REIT ecosystem dominated by commercial office assets is poised for a big shift as the next wave of growth can come from retail malls shopping centres and mixeduse developmentsBy 2030 Indias retail REIT market may reach Rs 6000080000 crore representing approximately 3040 per cent of the anticipated Rs 2 lakh crore REIT universe the report saidThis shift in trend will mirror the path of mature economies where retail REITs form 15 per cent to 25 per cent of total REIT market capitalisationInstitutional players are expanding aggressively in highincome consumptiondriven clusters of TierII cities such as Indore Coimbatore Surat Bhubaneswar and ChandigarhSEBI recently reclassified REITs as equity for mutual fund investments to enhance diversification opportunities and support the growth of real estate as an investible asset class IANS https://dailyworld.in/business/real-estate-fundraising-hits-7-year-high-in-fy25-report-644476.html Thu, 23 Oct 2025 12:34:00 +0530 https://dailyworld.in/business/apec-biz-events-to-showcase-s-korean-firms-global-competitiveness-technological-edge-644490.html Seoul Oct 23 South Korea will host various business events during the AsiaPacific Economic Cooperation APEC summit to showcase local companies technological competitiveness and promote exports the industry ministry said on Thursday Throughout next week a number of APECrelated business events will take place under the theme of the global leap of Korean companies beyond APEC exhibiting local companies capabilities in advanced industries such as artificial intelligence AI and in addressing global challenges including digital transition and climate change according to the Ministry of Trade Industry and Resources reports Yonhap news agencyIn the southeastern city of Gyeongju the Korea Chamber of Commerce and Industry KCCI will host the APEC CEO Summit from Tuesday to Friday bringing together 1700 participants from APEC member economies and global companiesAmong the attendees will be AI chip giant Nvidias Jensen Huang Amazon Web Services CEO Matt Garman Googles Chief Marketing Officer for Asia Pacific Simon Kahn Citigroup CEO Jane Fraser and Johnson amp Johnson CEO Joaquin DuatoFrom Monday to Thursday major Korean companies will host a futuretech forum on six cuttingedge technologies with HD Hyundai Co taking charge of a shipbuilding forum Hanwha Aerospace Co a defense industry forum SK Group an AI forum and the staterun Korea Hydro amp Nuclear Power Co KHNP a forum on future energyFrom Tuesday to Friday the KTech Showcase also will be held to display AI mobility robotics and display technologies of Korean firmsThe ministry said a number of business events will also take place in Seoul in connection with the APEC summit next week including the Invest Korea Summit Export Boomup Korea event and a global tech conferenceThe APEC South Korea 2025 is the annual meeting of the AsiaPacific Economic Cooperation Forum of its leaders that will be held in November 2025 It will be the second time South Korea has hosted the summit having previously hosted in 2005 IANS https://dailyworld.in/business/apec-biz-events-to-showcase-s-korean-firms-global-competitiveness-technological-edge-644490.html Thu, 23 Oct 2025 13:20:00 +0530 https://dailyworld.in/business/new-banking-laws-for-nomination-facilities-for-deposit-accounts-lockers-to-kick-in-from-nov-1-644497.html New Delhi Oct 23 The key provisions relating to nomination under the Banking Laws Amendment Act 2025 will come into effect from November 1 this year the Finance Ministry announced on Thursday The provisions that will kick in from next month relate to nomination facilities in respect of deposit accounts articles kept in safe custody and the contents of safety lockers maintained with banksThe Act which was notified on 15th April 2025 contains a total of 19 amendments across five legislations the Reserve Bank of India Act 1934 Banking Regulation Act 1949 State Bank of India Act 1955 and Banking Companies Acquisition and Transfer of Undertakings Act 1970 and 1980The notification said that the provisions of the Banking Laws Amendment Act 2025 shall come into force on such date as the Central Government may by notification in the Official Gazette appoint and different dates may be appointed for different provisions of the ActAccordingly the Central Government has notified that the provisions contained in Sections 10 11 12 and 13 of the Banking Laws Amendment Act 2025 shall come into force with effect from 1st November 2025 the statement saidAmong the key features of these provisions customers may nominate up to four persons either simultaneously or successively thereby simplifying claim settlement for depositors and their nominees depositors may opt for either simultaneous or successive nominations as per their preference and for nomination for Articles in Safe Custody and Safety Lockers only successive nominations are permittedDepositors may nominate up to four persons and specify the share or percentage of entitlement for each nominee ensuring that the total equals 100 per cent and enabling transparent distribution among all nomineesIndividuals maintaining deposits articles in safe custody or lockers may specify up to four nominees where the next nominee becomes operative only upon the death of the nominee placed higher ensuring continuity in settlement and clarity of successionThe implementation of these provisions will give depositors the flexibility to make nominations as per their preference while ensuring uniformity transparency and efficiency in claim settlement across the banking systemThe Banking Companies Nomination Rules 2025 detailing the procedure and prescribed forms for making cancelling or specifying multiple nominations will be published in due course to operationalise these provisions uniformly across all banks according to the official statementThe Banking Laws Amendment Act 2025 aims to strengthen governance standards in the banking sector ensure uniformity in reporting by banks to the Reserve Bank of India enhance depositor and investor protection improve audit quality in public sector banks and promote customer convenience through improved nomination facilities The Act also provides for rationalisation of the tenure of directors other than the Chairman and wholetime directors in cooperative banks IANS https://dailyworld.in/business/new-banking-laws-for-nomination-facilities-for-deposit-accounts-lockers-to-kick-in-from-nov-1-644497.html Thu, 23 Oct 2025 13:43:00 +0530 https://dailyworld.in/business/from-handloom-to-fruit-juices-gst-rejig-to-boost-tripuras-economy-644509.html New Delhi Oct 23 Recent GST rate cuts are reducing costs boosting affordability and expanding market access for Tripuras handloom tea sericulture and foodprocessing sectors the government informed on Thursday From Risa and PachraRignai textiles to Tripura Queen Pineapple products and sericulture industry these reforms empower tribal women artisans and small farmers while driving value addition and exports an official statement saidReductions are in effect for GItagged Risa and PachraRignai textiles benefiting over 13 lakh households involved in handloom work as well as stitched apparel made from these fabrics enhancing price competitiveness for locally woven garmentsRecent GST revisions further boost this traditional craft with fabrics now taxed at around 5 per cent and stitched apparel priced up to Rs 2500 moved to the 5 per cent slab from the earlier 12 per cent This 7percentagepoint reduction for stitched Risabased apparel will enhance income opportunities for rural women while preserving the states cultural heritage the statement saidPackaged and instant tea are also now subject to a 5 per cent GST benefiting 54 tea estates and approximately 2755 small tea growers who participate in auctions in Guwahati and Kolkata and export to markets such as Bangladesh the Middle East and EuropeAnother major sector sericulture involving approximately 15550 farmers statewide will have silkbased products taxed at 5 per cent reducing costs at every stage of the silk value chain from cocoon cultivation rearing and raw silk production to operating smallscale reeling unitsFurther food processing in Tripura is set to benefit from the 7 per cent GST reduction on fruit and vegetable juices including products from the GItagged Tripura Queen Pineapple as approximately 2848 food and agroprocessing units are active in the stateBy easing tax pressures the reform encourages processing packaging and exports helping Tripuras fruit sector evolve from farmbased production to a more valuedriven marketoriented ecosystemFrom FY 201819 to FY 202425 Tripura exported approximately 73 metric tonnes of pineapple to Dubai Oman Qatar and Bangladesh while supplying around 15000 metric tonnes to other Indian states the statement noted IANS https://dailyworld.in/business/from-handloom-to-fruit-juices-gst-rejig-to-boost-tripuras-economy-644509.html Thu, 23 Oct 2025 14:24:00 +0530 https://dailyworld.in/business/vardhman-textiles-q2-net-profit-falls-5-pc-revenue-slips-644515.html Mumbai Oct 23 Vardhman Textiles Limited on Thursday announced its September quarter results Q2 FY26 as the company reported a 5 per cent yearonyear YoY drop in its net profit to Rs 18776 crore compared to Rs 19729 crore in the same quarter in previous financial year Q2 FY25 Revenue also slipped slightly by 1 per cent to Rs 2480 crore from Rs 25024 crore a year ago according to its stock exchange filingHowever operating performance improved as the companys earnings before interest tax depreciation and amortisation EBITDA rose 6 per cent to Rs 334 croreThe EBITDA margin expanded to 135 per cent up from 126 per cent in the yearago period marking a gain of 90 basis pointsThe Chandigarhbased company said it has limited direct exposure to the US market but continues to serve several USbased brands indirectlyThe textile segment showed muted growth during the quarter while exports contributed 43 per cent to the companys total sales in FY25Following the results Vardhman Textiles shares jumped 852 per cent to Rs 44305 on Thursday However the stock remains down nearly 13 per cent so far in 2025In last five days the shares were up by Rs 3285 or 806 per cent In last one month the stock was Rs 2315 or 554 per centIn the last six months the shares were down by Rs 5705 or 1146 per cent In last one year the shares were down by Rs 1095 or 255 per centVardhman Textiles is a vertically integrated textile manufacturer in India that produces a wide range of products including yarn fabric sewing threads and garmentsIt is a major player in the Indian textile industry with multiple manufacturing facilities across the country and a significant global export marketThe company has a strong focus on manufacturing excellence innovation and sustainability according to its website IANS https://dailyworld.in/business/vardhman-textiles-q2-net-profit-falls-5-pc-revenue-slips-644515.html Thu, 23 Oct 2025 14:49:00 +0530 https://dailyworld.in/business/upi-clocks-highest-ever-single-day-payments-of-rs-102-lakh-crore-as-gst-rate-cuts-spur-demand-644521.html New Delhi Oct 23 Finance Minister Nirmala Sitharaman highlighted on Thursday that the unified payments interface UPI platform processed 754 million payments worth Rs 102 lakh crore on October 18 marking the highest singleday tally as consumer demand surged due to the GST rate cuts During the threeday period between Dhanteras and Diwali the average UPI volumes stood at 7369 million higher than 64746 million in the corresponding period a month ago the Finance Minister saidIt has been a cracker of a Diwali for retailers this year as GST rate cuts have boosted consumption enabling the middle class to add more items to their shopping bags this festive season she observedFrom labgrown diamonds to casual wear and products to adorn homes both mass and premium segments of the market picked up Sitharaman remarkedShe pointed out that the rollout of Goods and Services Tax GST 20 has injected fresh momentum into Indias growth story by enhancing household purchasing power easing business operations and simplifying tax administrationBy rationalising slabs and lowering rates across a range of consumer goods the reform has delivered tangible savings for households freeing up disposable income and helping stimulate demand the Finance Minister addedAccording to the Confederation of All India Traders CAIT Diwali sales soared to an alltime high of Rs 605 lakh this yearThis marks a 25 per cent jump over the 2024 festive sales of Rs 425 lakh crore from the Navratri to Diwali period and is the highestever sales in Indias trading history according to Research and Trade Development Society the research wing of CAITMainline retail accounted for nearly 85 per cent of total sales indicating a strong revival of the brickandmortar market the survey showedThe reduction in GST rates across key consumer and retail categories such as confectionery home decor footwear and readymade garments consumer durables and daily use items significantly improved price competitiveness and increased purchase momentumAbout 72 per cent of surveyed traders reported higher sales volumes directly attributable to reduced GST according to the surveyConsumers expressed greater satisfaction with stable prices amid festive demand aiding consumption continuity postDiwaliThe noncorporate and nonagricultural sector has emerged as a central pillar of Indias growth driven by 9 crore small businesses crores of small manufacturing units and the largest base of consumers IANS https://dailyworld.in/business/upi-clocks-highest-ever-single-day-payments-of-rs-102-lakh-crore-as-gst-rate-cuts-spur-demand-644521.html Thu, 23 Oct 2025 15:13:00 +0530 https://dailyworld.in/business/spicejet-delhi-patna-flight-returns-mid-air-due-to-technical-issue-644527.html New Delhi Oct 23 Ahead of the auspicious occasion of Chhath a Patnabound SpiceJet aircraft returned to Delhi on Thursday morning shortly after takeoff following a technical issue According to SpiceJet flight SG 497 which was operating from Delhi to Patna with a Boeing 737 aircraft made a normal landing at the Delhi airport and all passengers were safely deplanedHowever the airline did not share details about the number of passengers on boardOn October 23 SpiceJet flight SG 497 operating from Delhi to Patna returned back to Delhi after takeoff due to a technical issue the airline said in a statementThe aircraft landed normally and passengers were deplaned safely An alternate aircraft was arranged to accommodate the passengers which is now en route to Patna the airline addedThe incident adds to a series of technical issues reported by the budget carrier in recent monthsEarlier on September 12 a SpiceJet flight operating from Kandla Gujarat to Mumbai lost an outer wheel during takeoff but landed safely in MumbaiOn September 12 an outer wheel of a SpiceJet Q400 aircraft operating from Kandla to Mumbai was found at the runway after takeoff The aircraft continued its journey to Mumbai and landed safely an SpiceJet spokesperson said on September 12The Q400 aircraft continued its journey to Mumbai and taxied to the terminal under its own power after landing the airline had said at the timeMore recently a Kathmandubound SpiceJet flight faced a suspected tailpipe fire at Delhi airport but safely returned to the bayThe airline clarified that no warnings or indications were observed in the cockpit and the pilots returned as a precautionary measureSpiceJet which has been dealing with financial and operational challenges reported a consolidated net loss of Rs 234 crore in the AprilJune quarter Q1 of FY26 compared to a profit of Rs 158 crore in the same period last yearThe airline attributed the losses to grounded aircraft and the costs of bringing them back into service along with reduced leisure travel due to geopolitical tensions IANS https://dailyworld.in/business/spicejet-delhi-patna-flight-returns-mid-air-due-to-technical-issue-644527.html Thu, 23 Oct 2025 15:39:00 +0530 https://dailyworld.in/business/china-eastern-airlines-resuming-direct-delhi-shanghai-flights-from-nov-9-644529.html New Delhi Oct 23 China Eastern Airlines on Thursday announced the resumption of flights on its India route and the direct flights between Shanghai and Delhi will start from November 9 in fresh momentum for peopletopeople exchanges and economic and trade collaboration between New Delhi and Beijing The service will operate three times weekly on Wednesdays Saturdays and Sundays China Eastern Airlines has designated the Airbus A330200 known for its longrange capability and comfortable cabin environment for this routeThe flight from Delhi MU564 will depart at 755 pm arriving in Shanghai at 410 am the following day Flight MU563 from Shanghai Pudong International Airport will depart at 1250 pm and arrive at Indira Gandhi International Airport Delhi at 545 pm local time Tickets for the route are now available for sale the airline said in a statementThe Shanghai and Delhi route is one of the most strategically significant air links between India and China connecting the major economic and cultural hubs of both nationsThe resumption of this service marks the full restoration of China Eastern Airlines network in IndiaInterGlobe Air Transport has been the exclusive General Sales Agent GSA for China Eastern Airlines in India since 2002 when the airline became the first Chinese carrier to offer direct flights between India and ChinaThe company manages comprehensive sales marketing reservation and ticketing and operational support for the airlineIt will continue leveraging its extensive network and understanding of the Indian travel market to ensure the sustained success of this vital route said the airlineEarlier lowcost airline IndiGo announced new daily direct flights between New Delhi and Chinas Guangzhou from November 10 The airline said that the route will be operated using IndiGos Airbus A320 aircraftIt recently announced daily flights between Kolkata and Guangzhou starting October 26 The announcement came after the Ministry of External Affairs confirmed that India and China would restart direct flights between designated cities IANS https://dailyworld.in/business/china-eastern-airlines-resuming-direct-delhi-shanghai-flights-from-nov-9-644529.html Thu, 23 Oct 2025 15:41:00 +0530 https://dailyworld.in/business/sbi-general-insurances-gwp-grows-107-pc-in-h1-fy26-644533.html New Delhi Oct 23 General insurance company SBI General Insurance on Thursday announced a 107 per cent increase in its gross written premium to Rs 7376 crore for H1 FY26 surpassing the industry growth rate of 73 per cent The growth in H1 FY26 was driven by strong performance in key sectors health business grew by 41 per cent personal accident PA by 48 per cent and the motor business by 17 per cent the statement saidGWP grew by 139 per cent for the period excluding the impact of 1n accounting norms the insurer said The 1n accounting norm is a rule for insurance companies in India that requires that the premiums from longterm policies be recognised evenly over the policys term rather than all at onceThe company increased its private market share by 38 basis points to 683 per cent up from 645 per cent a year ago and reported a profit after tax of Rs 422 croreThe company attributed the growth to SBI General Insurances expanding distribution footprint and strengthened digital ecosystemThe ExCrop business growth is 24 per cent compared to private insurance growth of 8 per cent the statement saidThe loss ratio also improved to 796 per cent in H1 FY26 from 861 per cent in H1 FY25 Further it maintained a strong solvency ratio of 213 times well above the regulatory requirement indicating sound financial position and prudent capital managementIn H1 FY26 SBI General Insurance grew 14 times faster than the industry and three times faster than private amp SAHI insurance companies excrop said Naveen Chandra Jha MD amp CEO SBI General InsuranceIn the past several months the company has strengthened its distribution network deepened partnerships and enhanced digital capabilities Jha saidJitendra Attra CFO SBI General Insurance said that growth across multiple lines of business demonstrates the insurers diverse portfolio and responsiveness to evolving market needs IANS https://dailyworld.in/business/sbi-general-insurances-gwp-grows-107-pc-in-h1-fy26-644533.html Thu, 23 Oct 2025 15:45:00 +0530 https://dailyworld.in/business/sensex-nifty-extend-winning-streak-for-6th-day-led-by-it-stocks-644546.html Mumbai Oct 23 Equity benchmark indices continued their upward momentum for the sixth consecutive session on Thursday supported mainly by strong buying in IT stocks However both indices ended the day off their highs as some profit booking emerged later in the sessionThe Sensex touched a new 52week high of 85290 during the day gaining as much as 864 points It finally settled with a modest rise of 130 points or 015 per cent at 84556The Nifty also surged to an intraday high of 26104 before closing almost flat at 25891 up 23 points Analysts said that the Nifty completely erased its morning gains during the day nevertheless the shortterm trend remains strongOn the daily chart a large red candle has formed indicating the possibility of a pullback towards the 25700 level in the next few days However the shortterm trend remains intact with the potential to revisit higher levels around 26200 in the next 1015 days market experts saidInfosys led the rally among Sensex stocks jumping 4 per cent after its promoters decided not to participate in the companys Rs 18000 crore share buybackOther IT stocks followed suit with HCL Technologies and TCS climbing more than 2 per cent each amid reports that India and the US may soon sign a trade dealAmong other gainers Axis Bank Kotak Mahindra Bank Titan and Tata Motors rose over 1 per cent eachOn the losing side Eternal dropped 3 per cent to become the top Sensex laggard while Bharti Airtel Ultratech Cement ICICI Bank and Reliance slipped between 1 and 2 per centIn the broader market sentiment remained weak The BSE MidCap index declined 02 per cent and the SmallCap index fell 05 per centAmong sectors IT was the standout performer with the BSE IT index rising 22 per centTextile and shrimprelated stocks also saw strong gains on optimism surrounding the potential USIndia trade dealRupee saw a positive move of 019 paise settling at 8782 up by 022 per cent as optimism around a potential US tariff deal provided support to the domestic currency IANS https://dailyworld.in/business/sensex-nifty-extend-winning-streak-for-6th-day-led-by-it-stocks-644546.html Thu, 23 Oct 2025 16:54:00 +0530 https://dailyworld.in/business/chinese-firms-in-african-countries-face-problems-amid-rising-unrest-report-644342.html New Delhi Oct 22 Recent unrest in some African countries has highlighted the security political and communityrelations risks facing some Chinese businesses operating on the continent Chinas overseas engagement often centred on infrastructure finance and trade under the Belt and Road Initiative BRI has expanded market access and built roads railways and energy projects according to a new report At the same time episodes of looting arson and targeted crime in several African countries have prompted reviews of security compliance and local partnerships according to an article in Kenyas Capital NewsAnalysts note that economic diplomacy can amplify tensions where communities feel benefits have not been evenly shared or where economic shocks and political disputes are already presentIn Madagascar protests over power cuts and service delivery in Antananarivo escalated into rioting and property damage with Chineseowned premises reported among those affected Authorities imposed a curfew and announced cabinet changes as demonstrations continued the article statesIn Angola subsidy reforms and fuel price increases coincided with the deadliest unrest in years alongside casualties and arrests some retail outlets including Chineseowned shops were looted Similarly Mozambiques postelection disputes saw protests mass arrests and incidents of arson and looting in urban areas with a range of businesses impacted according to the articleBeyond street unrest governance and environmental concerns have drawn scrutiny In the Democratic Republic of the Congo officials and watchdogs have reported illegal or irregular mining operations involving a number of foreign operators including some with Chinese links Enforcement actions from arrests to licence reviews reflect broader efforts to formalise the sector the article observesIt also highlights that several governments have moved to deter unlawful activity around foreignlinked enterprises Ghana has tightened visa procedures for Chinese nationals amid a wider clampdown on illegal smallscale gold mining citing pollution and community impacts In Nigeria courts have handed down convictions in cybercrime cases involving foreign nationals and local regulators have temporarily sealed some firms including Chineseowned companies following clashes with enforcement officers during inspections These actions sit alongside routine cooperation between Chinese missions and host authorities on compliance and business continuitySecurity incidents have also underscored the risks of operating in highthreat environments A Chineseowned fishing vessel was hijacked off Somalia before the crew was eventually reported safe and earlier nine Chinese workers were killed in an attack on a gold mine in the Central African Republic Such events have led Chinese officials to call for accountability while urging companies to strengthen risk assessments avoid political entanglements particularly around elections and improve staff safety measures the article added IANS https://dailyworld.in/business/chinese-firms-in-african-countries-face-problems-amid-rising-unrest-report-644342.html Thu, 23 Oct 2025 00:02:00 +0530 https://dailyworld.in/business/coal-india-iit-madras-to-establish-centre-for-sustainable-energy-644344.html New Delhi Oct 22 Coal India Limited CIL on Wednesday signed a memorandum of understanding MoU with the Indian Institute of Technology Madras to establish the Centre for Sustainable Energy The Centre at IIT Madras will serve as a hub for cuttingedge RampD and capacitybuilding initiatives in sustainable energy technologiesSupported by CILs funding and aligned with its strategic diversification goals the Centre will focus on developing solutions for repurposing coal mines creating lowcarbon technologies and reimagining coal as a valuable feedstock in Indias clean energy future according to Coal MinistryThis partnership underscores a shared commitment to leading Indias energy transition through indigenous research innovation and technology development to achieve the nations netzero ambitions by 2070 it said in a statementPM Prasad Chairman CIL said that Coal India is transforming from being the nations energy provider to becoming a key enabler of Indias clean energy transitionThis MoU marks a historic step in Coal Indias journey toward sustainable growth Through this collaboration with IIT Madras Coal India aims to generate indigenous solutions that ensure energy security decarbonization and socioeconomic progress he addedV Kamakoti Director IIT Madras stated that industryacademia collaborations have been a cornerstone of IIT Madras journey toward leading Indias transition to a lowcarbon economyThe partnership with Coal India epitomizes the institutes commitment to this cause Together we aim to develop scalable and impactful solutions that support Indias sustainable energy future he emphasisedAccording to the ministry the Centre will also contribute to human capital development through PhD postdoctoral and internship programs nurturing the next generation of researchers and engineers to lead Indias green energy transformation IANS https://dailyworld.in/business/coal-india-iit-madras-to-establish-centre-for-sustainable-energy-644344.html Thu, 23 Oct 2025 00:04:00 +0530 https://dailyworld.in/business/gold-likely-to-open-weak-after-steep-global-fall-prices-may-drop-to-rs-122rs-123-lakh-per-10-gm-644259.html Mumbai Oct 22 The rush for gold may slow down after Diwali as the yellow metal is expected to open on a weak note in the domestic market on Wednesday This comes after international gold prices fell sharply by 55 per cent the steepest decline since August 2020Analysts expect Indian gold prices to correct to around Rs 122Rs 123 lakh per 10 grams when markets open on WednesdayThe fall in global prices has triggered profitbooking among investors who had benefited from golds recent rallySilver too lost over 2 per cent trading near 476 per ounce after tumbling 71 per cent in the previous sessionGold and silver both extended their slide from record highs while Asian stock markets showed mixed trends following a muted session on Wall StreetExperts said the sharp drop in precious metals reflects a wave of profittaking after their rapid rise this yearMany investors have grown cautious believing that golds rally may have entered a bubble zone analysts notedThis years rally had been driven by worries about the fiscal health of major economies especially the US and expectations that the Federal Reserve could cut interest rates further by the end of the yearGold prices had surged nearly 60 per cent this year fuelled by central banks diversifying away from the dollar and retail investors buying into exchangetraded fundsMarket sentiment also turned cautious after signs of possible progress in trade talks between the US and ChinaUS President Donald Trump said he expects a good deal in his upcoming meeting with Chinese President Xi Jinping though he admitted the talks might still face hurdlesAnalysts believe that while gold remains a preferred safehaven asset in the long term shortterm volatility is likely to continue as investors balance profittaking with global economic signals IANS https://dailyworld.in/business/gold-likely-to-open-weak-after-steep-global-fall-prices-may-drop-to-rs-122rs-123-lakh-per-10-gm-644259.html Wed, 22 Oct 2025 12:05:00 +0530 https://dailyworld.in/business/s-korea-narrows-most-gaps-with-us-in-tariff-talks-seeks-deal-in-line-with-national-interests-644263.html Seoul Oct 22 South Korea has narrowed most differences with the United States in tariff negotiations with one or two unresolved issues remaining a senior presidential aide said on Wednesday adding that Seoul seeks to finalize a deal with Washington in line with national interests The presidential chief of staff for policy Kim Yongbeom made the remarks as he was set to depart for Washington for followup tariff talks along with Industry Minister Kim Jungkwan just two days after they returned home after holding talks with US Commerce Secretary Howard Lutnick and other officialsKim told reporters that South Korea and the US have narrowed their differences on many key issues but there are still one or two areas where our positions remain dividedI am returning to Washington to work toward settling those issues in a way that serves our national interests Kim told reporters at Incheon International Airport west of Seoul before boarding his flightSouth Korea and the US have been in negotiations on details of a 350 billion investment package agreed under a framework deal in July to reduce US tariffs on South Korean goodsTheir visit comes as Seoul and Washington expressed optimism that they could strike a deal ahead of the AsiaPacific Economic Cooperation APEC summit to be held in South Korea next week where President Lee Jae Myung and US President Donald Trump are expected to meetHowever the presidential aide said South Korea will not seek to strike a partial deal We are not considering an MOU based on a partial agreement that leaves critical issues unresolved simply to meet a specific timeline such as the APEC summit Kim saidOn the possibility of a joint statement by the two leaders on the occasion of the APEC or the upcoming South KoreaUS summit Kim said We could expect such a result if the trade sector is concluded in a way that aligns with the interest of both countriesTrump earlier said the 350 billion investment would be made up front while Seoul officials have argued the investment pledge was intended to finance projects rather than a cash payment and called for financial safeguards such as a currency swap arrangement IANS https://dailyworld.in/business/s-korea-narrows-most-gaps-with-us-in-tariff-talks-seeks-deal-in-line-with-national-interests-644263.html Wed, 22 Oct 2025 12:07:00 +0530 https://dailyworld.in/business/satya-nadellas-pay-jumps-to-965-million-in-fy25-highest-since-becoming-microsoft-ceo-644267.html Mumbai Oct 22 Microsoft CEO Satya Nadellas total compensation for the financial year 20242025 has risen to 965 million his highest since taking charge of the company more than a decade ago The sharp increase reflects Microsofts major progress in artificial intelligence AI under his leadershipIn a note to shareholders the companys board said Nadella and his leadership team have successfully positioned Microsoft as a global leader in AI during a generational technology shiftThe companys regulatory filing shows that around 90 per cent of Nadellas pay comes in the form of Microsoft shares in addition to a 25 million base salaryIn the previous financial year Nadella earned 791 million He became Microsofts third CEO in 2014 succeeding Steve Ballmer and cofounder Bill GatesThe filing also revealed higher pay packages for Nadellas top executives Chief Financial Officer Amy Hood earned 295 million while Judson Althoff who now heads Microsofts commercial business received 282 millionMicrosoft shares have gained about 23 per cent this year driven by steady growth in its Azure cloud computing business which continues to outperform competitors like Amazon Web ServicesSince becoming CEO Nadella has transformed Microsoft into a cloudfirst and AIdriven companyHis early bet on cloud computing helped Azure become one of the top players in the global marketHe also expanded Microsofts portfolio through key acquisitions including LinkedIn GitHub and gaming giant Activision Blizzard strengthening the companys presence in software professional networking and entertainmentOne of Nadellas most significant moves was backing OpenAI when it was still a littleknown startupMicrosofts initial 1 billion investment in OpenAI grew into a much deeper partnership with an additional 10 billion investment as ChatGPT became a household nameToday AI features powered by OpenAI are integrated across almost all Microsoft products from Office tools to cloud servicesBorn and raised in Hyderabad Nadella completed his engineering degree from Mangalore University in 1988 and later pursued a masters in computer science from the University of WisconsinMilwaukeeHe joined Microsoft in 1992 and quickly rose through the ranks leading several divisions before taking over as CEO in 2014 IANS https://dailyworld.in/business/satya-nadellas-pay-jumps-to-965-million-in-fy25-highest-since-becoming-microsoft-ceo-644267.html Wed, 22 Oct 2025 12:10:00 +0530 https://dailyworld.in/business/from-pashmina-wool-to-thangka-paintings-gst-rejig-to-boost-ladakhs-economy-644279.html New Delhi Oct 22 Goods and Services Tax GST reforms will reduce costs and broaden markets for Ladakhs artisans farmers and tourism operators and safeguard local crafts the government said on Wednesday Rate cuts from 12 per cent to 5 per cent will enhance the competitiveness and affordability of authentic Pashmina handwoven woollens Thangka paintings and apricot and sea buckthorn products an official statement saidThe GST cut could enhance exports of Pashmina wool from the Changthang region sustaining the livelihood of over 10000 nomadic herders The GST reduction is expected to boost the competitiveness of authentic Ladakhi pashmina against imported or machinemade alternatives the release saidProduction costs for handwoven woollens Namda rugs in Leh and Kargil are also expected to drop encouraging the revival of traditional handicraft practicesThe GST reduction from 12 per cent to 5 per cent on hotel tariffs up to Rs 7500 per night makes travel and accommodation more affordable particularly during the busy tourist season This will support the growth of ecotourism and local homestay economy the release saidTraditional Ladakhi carpentry and Thangka paintings from monasteries will benefit from enhanced price competitiveness Ladakhi Thangka paintings often crafted in the monasteries in Leh Alchi and Hemis are traditional Buddhist scroll artworks used for meditation and decorationThe GST reduction benefits over 6000 farming families engaged in apricot cultivation and processing by improving the competitiveness of locally produced apricots and their valueadded products such as dried apricots jams and oils which make them more marketable Ladakh is Indias largest apricot producer with Kargil Leh and the Nubra Valley serving as its main production hubsFurther the reforms will also bolster markets for sea buckthorn products primarily produced by womenled selfhelp groups Yak cheese Leh berry health drinks supplements and organic farm products are other products buoyed by the GST reforms IANS https://dailyworld.in/business/from-pashmina-wool-to-thangka-paintings-gst-rejig-to-boost-ladakhs-economy-644279.html Wed, 22 Oct 2025 12:19:00 +0530 https://dailyworld.in/business/indias-renewable-energy-focus-shifts-from-speed-to-system-strength-govt-644295.html New Delhi Oct 22 Indias renewable energy initiative is transitioning from rapid capacity additions to developing a resilient dispatchable and integrated system the government said on Wednesday India is shifting its focus from rapid capacity addition to enhancing system strength in its renewable energy transition an official statement saidThe countrys renewable energy sector will be defined by the strength stability and depth of its systems the press statement from the Ministry of New and Renewable Energy saidIn the last decade Indias renewable energy capacity has grown more than fivefold from under 35 GW in 2014 to over 197 GW excluding large hydro today and is on its way to achieving the goal of achieving 500 GW of nonfossil capacity by 2030 the ministry saidWe are now dealing with grid integration energy storage hybridisation and market reforms the real foundations for a 500 GW plus nonfossil future the statement saidIn that sense the recent moderation in capacity addition is a recalibration a necessary pause to ensure that future growth is stable dispatchable and resilient it addedOver 40 GW of awarded projects are nearing completion of Power Purchase Agreements PPAs Power Supply Agreements PSAs or transmission arrangements Recently central and state agencies have tendered 56 GW and 35 GW respectively Additionally commercial and industrial consumers are projected to add nearly 6 GW in 2025Thus capacity addition of RE is progressing through multiple pathways and not necessarily through REIAled bids alone the government maintainedDespite global headwinds India continues to add 1525 GW of new renewable capacity annually a rate that remains among the fastest in the world the release saidIn addition the recalibration of GST structures and ALMM provisions are designed to stabilise costs enhance module reliability and promote scale efficiencies in Indias maturing solar manufacturing ecosystemIndias grid is being reimagined through the Rs 24 lakh crore Transmission Plan for 500 GW linking renewablerich states with demand centresFurther Green Energy Corridors and new highcapacity transmission lines are set to unlock over 200 GW the release noted IANS https://dailyworld.in/business/indias-renewable-energy-focus-shifts-from-speed-to-system-strength-govt-644295.html Wed, 22 Oct 2025 13:51:00 +0530 https://dailyworld.in/business/indias-auto-deals-surge-to-46-billion-in-q3-2025-in-strongest-quarter-ever-644297.html New Delhi Oct 22 Indias automotive sectors deal value touched 46 billion with 30 transactions in the JulySeptember Q3 2025 period marking the strongest quarter in over a year a report said on Wednesday The surge was primarily fuelled by Tata Motors 38 billion acquisition of Iveco SPA which accounted for 95 per cent of total mergers and acquisitions MampA value in Q3 2025 the report from Grant Thornton Bharat saidThe quarter reflected a strategic pivot toward global expansion electrification and supply chain recalibration as both strategic acquirers and private investors intensified focus on futureready mobility platforms the report addedDeal volumes remained unchanged quarteronquarter but values surged due to the outbound Tata Motors acquisitionWhile MampA activity was dominated by crossborder consolidation plays private equity PE interest remained steady in scalable techenabled segments such as electric mobility fleet electrification and MobilityasaService MaaSMampA activity recorded seven deals totalling 41 billion reflecting a 1234 per cent increase in value compared to Q2 Crossborder transactions accounted for 71 per cent of volumes and 99 per cent of valuePrivate equity activity included 23 deals worth 531 million marking a 15 per cent increase in volume but a 17 per cent drop in value compared to Q2 Seventy per cent of these deals were under 10 millionMobilityasaService MaaS continued to dominate PE deal flow accounting for nearly 80 per cent of total PE valueFurther International Finance Corporation IFCbacked funding in electric bus operators worth 137 million further reinforced investor confidence in urban electrification and multimodal transport infrastructurePublic market activity remained subdued in Q3 2025 with no major IPOs or QIPs recorded However investor focus remains high on the anticipated Toyota IPO in 2026 which is expected to reshape investment flows and reinvigorate sectoral interest IANS https://dailyworld.in/business/indias-auto-deals-surge-to-46-billion-in-q3-2025-in-strongest-quarter-ever-644297.html Wed, 22 Oct 2025 14:15:00 +0530 https://dailyworld.in/business/samsung-groups-market-capitalisation-tops-6344-billion-for-1st-time-644301.html Seoul Oct 22 Samsung Groups entire market capitalisation surpassed 900 trillion won 6344 billion for the first time on Wednesday driven by semiconductor maker Samsung Electronics bullish run data showed Samsung Groups total market capitalisation stood at 9079 trillion won 6344 billion up 67 percent from 5433 trillion won at the end of last year according to the data from the Korea Exchange reports Yonhap news agencyThe increase was largely attributed to a sharp increase in the share price of Samsung Electronics which swelled 853 per cent from 53200 won on Dec 31 to 98600 won on WednesdaySamsung Electronics share price rose sharply in recent weeks boosted by a tech rally on Wall Street and a positive outlook for the chip sector amid a boom in the artificial intelligence AI marketMeanwhile Samsung SDI has partnered with the Korea Electrical Safety Corp KESCO to cooperate in strengthening the safety of energy storage system ESS infrastructure amid an expected increase in demand for such equipment in the near futureUnder a memorandum of understanding MOU the two sides will cooperate on developing safety management policies and safety improvement measures for ESS and uninterruptible power supply UPS systems They will also collaborate on accident prevention manuals and coordinated emergency response systems while also working to encourage voluntary participation of users to install fire suppression and remote monitoring systemsSamsung SDI and KESCO plan to form a workinglevel task force to produce specific implementation plans and establish a longterm cooperation frameworkThe partnership comes as South Korea expects a rapid growth of its ESS market in line with the governments energy transition policy This agreement is an opportunity to extend our technological leadership to a broader social responsibility said Choi Joosun chief executive officer CEO of Samsung SDI IANS https://dailyworld.in/business/samsung-groups-market-capitalisation-tops-6344-billion-for-1st-time-644301.html Wed, 22 Oct 2025 14:40:00 +0530 https://dailyworld.in/business/govt-to-hold-open-house-on-steel-import-issues-644304.html New Delhi Oct 22 Ministry of Steel announced on Wednesday that it will conduct an Open House to discuss issues related to the import of steel on October 27 at Udyog Bhavans Steel Room in the national capital Companies and associations may present their issues related to steel imports in the Open House the Steel Ministry said in a statementThe Open House will be conducted from 1200 noon to 600 pm and specific time slots will be indicated via email Walkins will not be possible due to logistic challenges and only one representative per organisation is permitted to ensure wider participation the statement explainedThe Ministry said that any company or association having issues related to import of steel may send their request on the above email to get confirmed timeslots by 1100 am of October 24While sending the email following information may be included Name of the CompanyAssociation issue is related to SIMSNOCQCOothers Name and designation of the participant third party representation not allowedThe other information that has to be provides includes reference of SIMSNOC application if any type of industry and product AutoAerospaceTelecom Defence etc mention of the issue has to be made in in brief maximum 50 words and contact details of the nodal person mobile number and email have to be provided the statement further explainedThe development comes in the backdrop of Indias steel industry facing challenges from cheaper imports particularly from China which is putting pressure on domestic producers by lowering prices and impacting market share The government imposed a 12 per cent temporary safeguard duty on certain steel imports in April 2025 to protect the domestic marketThese measures follow previous actions and are part of ongoing efforts to safeguard the industry while promoting selfreliance under initiatives like Make in IndiaThe influx of lowpriced steel from major producers like China Japan and South Korea has forced domestic manufacturers to lower prices reduce capacity utilisation and see their market share decline according to an RBI report IANS https://dailyworld.in/business/govt-to-hold-open-house-on-steel-import-issues-644304.html Wed, 22 Oct 2025 14:42:00 +0530 https://dailyworld.in/business/over-onethird-of-indian-employees-in-zoho-apple-nvidia-from-tier-3-colleges-report-644307.html New Delhi Oct 22 Over onethird of Indian employees at major tech firms such as Zoho Apple and NVIDIA graduated from the countrys tier 3 colleges a report said on Wednesday This highlights a shift towards skillsbased hiring the report from Blind an anonymous social media app said based on its survey of 1602 Indian professionalsThe survey categorised colleges based on the NIRF 2025 rankings into tier 1 tier 2 tier 3 and overseas institutesWhile traditional financial firms still place value on college names major tech firms tend to prioritise skills At companies like Zoho Apple NVIDIA SAP and PayPal where many respondents said college had no influence on their careers an average of 34 per cent of surveyed employees were Tier 3 graduates the report saidTraditional financial and tech firms such as Goldman Sachs Visa Atlassian Oracle and Google continued to rely on campus recruitment with an average of 18 per cent of respondents being tier 3 graduatesWhile 59 per cent of tier 3 alumni and 45 per cent of overseas graduates considered their college education merely a line on their resume the vast majority of tier 1 and tier 2 alumni attributed their career development to campus recruitmentAs many as 15 per cent of tier 3 alumni reported significant salary benefits from their education while 74 per cent indicated it was helpful only in the early stages or not at allAround 53 per cent of overseas graduates reported that college had little or no effect on their earningsBlind said that 41 per cent of surveyed professionals graduated from tier 1 colleges such as IITs IISc top IIMs BITS Pilani etc 30 per cent from tier 2 colleges 25 per cent from tier 3 and 4 per cent from overseas institutions IANS https://dailyworld.in/business/over-onethird-of-indian-employees-in-zoho-apple-nvidia-from-tier-3-colleges-report-644307.html Wed, 22 Oct 2025 14:44:00 +0530 https://dailyworld.in/business/domestic-equity-markets-gain-momentum-on-back-of-resilient-q1-gdp-data-report-644309.html New Delhi Oct 22 Domestic equity markets went up following robust macroeconomic indicators as Indias economy expanded by 78 per cent yearonyear YoY in Q1 FY26 marking the strongest growth in five quarters a report said on Wednesday While the Services PMI surged to 629 in August 2025 its highest level in over 15 years driven by a sharp rise in new orders and resilient demandSentiment was further boosted as the GST Council simplified the existing four tax slabs 5 12 18 28 per cent into a tworate structure of 5 per cent and 18 per cent and proposed a special 40 per cent slab for select luxury items such as highend cars tobacco and cigarettes ICRA Analytics said in its reportEquity markets gained further extension after the US Federal Reserve delivered its first rate cut of the year in September citing recent weakness in the labour marketHowever overall gains were capped amid lingering uncertainty over IndiaUS trade negotiations and continued foreign institutional investor outflows from domestic equitiesMeanwhile according to the report among the trends spotted in the Equity Mutual Fund category as on September all categories across equity mutual funds gave positive category average returns over 3year 5year and 10year period small cap Fund gave maximum category average return over 5year and 10year period and large cap fund gave negative category average returns of around 492 per cent over 1year periodSimilarly there were trends spotted in the Debt Mutual Fund category this month Credit risk funds gave maximum average returns over 6month 1year 3year and 5year periods Lowduration fund gave the maximum average return over 1 month 1857 per centAll categories across debt mutual funds gave positive returns across 1year 3year 5year and 10year periods and credit risk funds gave maximum average returns over 6month 1year 3year and 5year periods IANS https://dailyworld.in/business/domestic-equity-markets-gain-momentum-on-back-of-resilient-q1-gdp-data-report-644309.html Wed, 22 Oct 2025 15:08:00 +0530 https://dailyworld.in/business/fm-sitharaman-highlights-surge-in-diwali-sales-to-all-time-high-of-rs-605-lakh-crore-644317.html New Delhi Oct 22 Finance Minister Nirmala Sitharaman on Wednesday highlighted the surge in Diwali sales this year which touched a record Rs 605 lakh crore driven by GST rate cuts and strong demand for swadeshi products The Finance Minister cited the statement of the Confederation of All India Traders CAIT which estimated this years Diwali sales comprising Rs 54 lakh crore in goods and Rs 65000 crore in servicesThis marks a 25 per cent jump over the 2024 festive sales of Rs 425 lakh crore from the Navratri to Diwali period and is the highestever sales in Indias trading history according to Research and Trade Development Society the research wing of CAITMainline retail accounted for nearly 85 per cent of total sales indicating a strong revival of the brickandmortar market the survey showedThe reduction in GST rates across key consumer and retail categories such as confectionery home decor footwear and readymade garments consumer durables and daily use items significantly improved price competitiveness and increased purchase momentumAbout 72 per cent of surveyed traders reported higher sales volumes directly attributable to reduced GST according to the surveyConsumers expressed greater satisfaction with stable prices amid festive demand aiding consumption continuity postDiwaliThe noncorporate and nonagricultural sector has emerged as a central pillar of Indias growth driven by 9 crore small businesses crores of small manufacturing units and the largest base of consumersThe Diwali trade surge is estimated to have generated temporary employment for nearly 50 lakh people across logistics transport retail assistance packaging and delivery the data showedEnhanced rural and semiurban purchasing power contributed nearly 28 per cent of overall sales highlighting deep economic penetration beyond metrosDiwali 2025 has set a new benchmark in Indias retail and trading economy symbolising the fusion of tradition technology and trust in Indian enterprise said CAIT adding that this years Diwali stands as a major milestone in building an Aatmanirbhar Bharat under the visionary leadership of Prime Minister Narendra Modi IANS https://dailyworld.in/business/fm-sitharaman-highlights-surge-in-diwali-sales-to-all-time-high-of-rs-605-lakh-crore-644317.html Wed, 22 Oct 2025 16:07:00 +0530 https://dailyworld.in/business/meity-proposes-mandatory-labels-metadata-tagging-to-combat-deepfakes-644320.html New Delhi Oct 22 The Ministry of Electronics and Information Technology has issued draft amendments to the IT Intermediary Guidelines and Digital Media Ethics Code Rules 2021 that mandate platforms to clearly identify synthetically generated content and introduce new technical obligations for services facilitating its creation The proposed changes introduce a clear definition of synthetically generated information and require platforms especially major social media intermediaries SSMIs to label such content through metadata and visible or audible markingsUnder IT rules SSMIs are those platforms that have more than 5 million registered users in India such as Facebook YouTube Snapchat etcProposed rule mandates that social media platforms facilitating AI content creation must ensure that the information is prominently labelled or embedded with permanent unique metadata or identifierThe identifier must be visible or audible covering at least ten per cent of the surface area of the visual display or in the case of audio content during the initial ten per cent of its duration the rules statedThe draft rules also said that the metadata or identifier must not be alterable suppressed or removedIf a platform knowingly allows unlabelled or falsely declared AIgenerated content it will be deemed to have failed in exercising due diligence under the IT ActPlatforms that enable the creation or modification of synthetic content would also be required to adopt technical measures to verify and declare if uploaded content is AIgenerated the ministry saidThe ministry added that the move is part of its broader push to maintain an open safe trusted and accountable Internet while addressing growing risks of misinformation impersonation and election manipulation driven by generative AIThe ministry has invited stakeholder feedback on the draft by November 6 2025The government had earlier this month selected five projects under the programme launched by IndiaAI to advance realtime deepfake detection strengthen forensic analysis and further other AIrelated security issues IANS https://dailyworld.in/business/meity-proposes-mandatory-labels-metadata-tagging-to-combat-deepfakes-644320.html Wed, 22 Oct 2025 16:09:00 +0530 https://dailyworld.in/business/startup-founder-slams-taj-hotel-for-schooling-on-how-to-sit-wear-clothes-footwear-644321.html New Delhi Oct 22 YourStory Founder and CEO Shradha Sharma has slammed authorities at the Taj Hotel for shaming her for sitting in regular padmasana style at its fine dining restaurant House of Ming In a post along with a video shared on the social media platform X Sharma shared the incident that occurred when she went to House of Ming to have dinner along with her sister during DiwaliSharma who sat in a padmasana position on the chair was reprimanded by the manager and asked to sit properly as other guests raised objections to her way of sittingAn ordinary person who through hard work earns their own money and comes to the Taj Hotel with their dignity intact even today in this country they have to face humiliation and insult And what is my fault Just this that I sat down in a regular padmasana style Is it my fault that the Taj is teaching me how to sit what to do Sharma said in the post on XThe manager also insulted her for the choice of clothes traditional salwar kameez and footwear kolhapuri chappalsShe said that she worked hard and earned the money to afford a place at the fine dining but the hotel is reeking of richness culture and classThe manager told her This is fine dining and a lot of rich people come here So you should sit in a way adding that I dont know what to wear closed shoesI am wearing Kolhapuri slippers And what I wear I bought it with my own hard work and came here But to come here and say that you sit with your feet down this is wrongAnd someone has an objection and a problem And it shows that we are still reeking of this richness and this culture and this class Why I work hard and thats why I am hereAnd I am paying for this myself So what is the issue What is the problem with anyone here Sharma saidNoting that she has a lot of respect for industrialist Ratan Tata who was an investor in her company the incident left her disappointed with TajWhile Taj is yet to respond to the allegations the post received several comments supporting her and slamming the hotel groupNo one should ever face something like this TajMahalHotel this isnt just a mistake its a serious failure Hope you take accountability and ensure it never happens to anyone else said one userPadmasana isnt the problem the problem is the Macaulaymoulded mindset that still measures dignity by Western posture Weve produced generations ashamed of their own civilization while pretending to be global Countless Bhartiyas have faced such insults countless times added anotherHowever some also asked her not to expect a homely atmosphere at a fine dining place citing hygiene issues among others IANS https://dailyworld.in/business/startup-founder-slams-taj-hotel-for-schooling-on-how-to-sit-wear-clothes-footwear-644321.html Wed, 22 Oct 2025 16:10:00 +0530 https://dailyworld.in/business/chatgpt-atlas-all-about-google-chromes-rival-644323.html New Delhi Oct 22 OpenAI has unveiled ChatGPT Atlas a new AIpowered web browser designed to redefine how people use the internet Built entirely around ChatGPT the browser aims to merge artificial intelligence with traditional web browsing offering a seamless and interactive online experienceThe company says Atlas is now available globally for macOS users and will soon arrive on Windows iOS and AndroidAt its core Atlas places ChatGPT directly inside the browser rather than adding it as an extensionThe newtab page doubles as both a chat window and a traditional search bar allowing users to browse websites get AIgenerated answers and view regular search results all in one placeUsers can switch between links images videos and news without leaving the chat interface One of the biggest highlights of ChatGPT Atlas is its optional browser memoryThis feature allows the browser to remember key details from visited websites enabling users to ask followup questions like Summarise the job postings I checked last week without reentering linksOpenAI says users will have full control over what the AI remembers and can easily clear data or browse privatelyBy default browsing content will not be used for model training unless users choose to opt inAnother major upgrade is the introduction of Agent Mode which allows ChatGPT to take actions directly inside the browserFor example it can research topics open tabs extract data and even interact with services like Instacart to build shopping carts from recipesProduct lead Adam Fry explained that this means Atlas can now book reservations or flights or even edit a document that youre working onThe browser also includes a feature called cursor chat which lets users highlight any text such as an email and ask ChatGPT to rewrite or refine it instantlyAltman described Atlas as a step toward a new way of using the internetwhere the chat experience becomes a natural part of web navigationThe way that we hope people will use the internet in the future the chat experience in a web browser can be a great analogue he said IANS https://dailyworld.in/business/chatgpt-atlas-all-about-google-chromes-rival-644323.html Wed, 22 Oct 2025 16:12:00 +0530 https://dailyworld.in/business/cyberattack-on-jaguar-land-rover-costs-uk-economy-255-billion-disrupts-over-5-000-businesses-644331.html New Delhi Oct 22 A major cyberattack on Jaguar Land Rover the British car manufacturer owned by Indias Tata Motors has cost the UK economy an estimated 255 billion 19 billion according to a report released on Wednesday by the Cyber Monitoring Centre CMC The attack forced a sixweek shutdown of JLRs production impacting thousands of suppliers and dealerships nationwide marking it as the most expensive cyber event ever recorded in the UKMore than 5000 companies across the UK were affected by the incident the report saidThe CMC is an independent group made up of experts in cybersecurity including a former head of Britains National Cyber Security CentreThey said the financial damage could have been even worse if JLR had faced longer delays in restarting production after the hackThe report described this attack as the most costly cyber event ever to hit the UK Most of the losses came from JLR having to stop making cars which also affected its many suppliersJLR has three factories in Britain that together produce about 1000 cars every day Due to the hack production was shut down for almost six weeksJLR finally began to start production again earlier this month Before the shutdown the company was losing about 50 million pounds every weekTo help JLR and its suppliers during this difficult time the British government provided a loan guarantee of 15 billion pounds at the end of SeptemberThis cyberattack on JLR was one of several big hacks that hit important British companies this yearFor example the retailer Marks amp Spencer lost around 300 million pounds when its online services were shut down for two months after a breach in AprilThe CMC has a system to rate the financial impact of such cybersecurity incidents on British businessesThey ranked the JLR hack as a Category 3 systemic event which is on a scale of one to fiveThe report said the attack caused a major disruption not only to JLRs manufacturing but also to its supply chain and to car dealerships across the country IANS https://dailyworld.in/business/cyberattack-on-jaguar-land-rover-costs-uk-economy-255-billion-disrupts-over-5-000-businesses-644331.html Wed, 22 Oct 2025 23:48:00 +0530 https://dailyworld.in/business/car-sales-more-than-doubled-to-over-half-a-million-units-fm-sitharaman-on-gst-20-644334.html New Delhi Oct 22 Finance Minister Nirmala Sitharaman on Wednesday said that the GST 20 reforms which came into effect from September 22 have given a significant push to the domestic automotive industry with car sales more than doubling to over half a million units Market observers say that the retail total of the entire passenger vehicle industry between the implementation of the new goods and services tax GST rates on September 22 and Diwali could be anywhere between 650000700000 units Sitharaman posted on XThe GST 20 which came into force a month ago has given a significant push to the automotive industry with car sales more than doubling to over half a million units she wrote citing a media articleAlso during the period of Diwali shopping ecommerce and quickcommerce platforms recorded sharp demand increases with premium products and instantdelivery services driving growth and festival spend extending beyond major cities the Finance Minister saidAmid robust festive demand post reduction of GST on automobiles Tata Motors said it has delivered over 1 lakh cars within the last 30 days from Navratri to Deepawali The Tata Groups automobile manufacturer saw a massive 33 per cent YearonYear YoY surge in sales during this period with SUVs continuing to dominate the marketMaruti Suzuki India also consolidated its position as the market leader in the passenger vehicle segment comprising cars and SUVsDiwali sales in 2025 touched a record Rs 605 lakh crore led by GST rate cuts and strong demand for local or swadeshi products The Diwali trade surge is estimated to have generated temporary employment for nearly 50 lakh people across logistics transport retail assistance packaging and deliveryConsumers expressed greater satisfaction with stable prices amid festive demand aiding consumption continuity postDiwali according to CAIT IANS https://dailyworld.in/business/car-sales-more-than-doubled-to-over-half-a-million-units-fm-sitharaman-on-gst-20-644334.html Wed, 22 Oct 2025 23:54:00 +0530 https://dailyworld.in/business/india-emerges-as-most-attractive-investment-destinations-amid-infra-boom-expanding-middle-class-blackstone-president-644338.html New Delhi Oct 22 Blackstone President and Chief Operating Officer Jon Gray has called India one of the most attractive investment destinations in the world describing it as the fastestgrowing country in the G10 Speaking at an event Gray praised Indias strong economy growing middle class and major push in infrastructure development calling it a compelling longterm opportunity for global investorsGray highlighted three areas that he believes hold the strongest investment potential real estate secondary markets and IndiaHe said that despite facing challenges over the last few years commercial real estate is now entering a favourable phaseIts been three and a half very tough years for commercial real estate but now a good dynamic has taken over New supply has dropped by nearly 70 per cent costs are coming down and assets have been repriced This is the time to be an investor in commercial real estate Gray saidHe also pointed to secondary markets as a growing opportunity noting that the industry has expanded significantly from 23 billion to 200 billion over the last 15 yearsSome worry that this has gotten too big but its still just one and a half percent of total assets under management We believe discounts and opportunities in secondaries will continue to persist he explainedWhen speaking about India Gray said the country stood out for its resilience and potentialThis is the G10s fastestgrowing country Theres been some geopolitical tension recently but India is investing heavily in infrastructure and has a rapidly rising middle class This is a place we particularly like he saidHis comments come shortly after the International Monetary Fund IMF revised Indias GDP growth forecast for the current fiscal year to 66 per cent up from its earlier estimate of 64 per centThe IMF said Indias strong domestic growth was helping offset the impact of US tariffs on its exportsIt expects the Indian economy to grow by 62 per cent next year according to its latest World Economic Outlook IANS https://dailyworld.in/business/india-emerges-as-most-attractive-investment-destinations-amid-infra-boom-expanding-middle-class-blackstone-president-644338.html Wed, 22 Oct 2025 23:59:00 +0530 https://dailyworld.in/business/with-an-eye-on-china-us-and-australia-sign-critical-minerals-agreement-644122.html Washington Oct 21 The United States and Australia have signed a critical minerals agreement days after China announced new export controls on rare earth minerals magnets and other products President Donald Trump hosted Australias Prime Minister Anthony Albanese at the White House on Monday where both leaders signed the mineral dealWe work together very much on rare earths critical minerals and lots of other things and weve had a very good relationship Weve been working on that for quite a while In about a year from now well have so much critical mineral and rare earths that you wont know what to do with them Theyll be worth 2 billion he addedThe Australian Prime Minister also lauded the minerals agreement saying it will take the bilateral relationship to the next levelIn addition Trump fully endorsed the AUKUS deal originally signed during the Biden administration calling it a deterrent against China and bringing an end to months of uncertainty following the Pentagons internal reviewIt was made a while ago and nobody did anything about it It was going too slowly We do actually have a lot of submarines We have the best submarines in the world anywhere in the world and were building a few more currently under construction We have worked on this long and hard and were starting that process right now and I think its really moving along very rapidly very well he addedAUKUS AustraliaUnited KingdomUnited States is a trilateral defence pact signed in 2021 Under the agreement the US will supply at least three nuclearpowered submarines to Australia in the 2030s followed by joint construction of a new generation of nuclearpowered submarines by Australia and the UK in the 2040sTrump also expressed confidence that he could work out a fair deal with Chinese President Xi Jinping during their upcoming meeting on the sidelines of Asia Pacific Economic Cooperation APEC Summit in South KoreaWe have a very good trade relationship When we leave South Korea it could be wrong but I think well end up with a very strong trade deal Both of us will be happy he predictedTrump has threatened to impose additional 100 per cent tariffs on Chinese products from November 1 if China goes ahead with its export controls on rare earthsOn concerns about a potential Chinese invasion of Taiwan Trump argued that China doesnt want to do thatUnited States is the strongest military power in the world by far Its not even closewe have the best equipment We have the best of everything and nobodys going to mess with that And I dont see that at all with President Xi I think were going to get along very well as it as it pertains to Taiwan and this Now that doesnt mean its not the apple of his eye because probably it is but I dont see anything happening he added IANS https://dailyworld.in/business/with-an-eye-on-china-us-and-australia-sign-critical-minerals-agreement-644122.html Tue, 21 Oct 2025 10:27:00 +0530 https://dailyworld.in/business/us-clarifies-100-000-h-1b-visa-fee-exempts-current-holders-644123.html Washington Oct 21 In a major relief for foreign workers on H1B visas the US Department of Homeland Security has issued new guidance on the 100000 application fee providing a series of exemptions and carveouts US clarifies 100000 H1B visa fee exempts current visa holdersWashington Oct 21 In a major relief for foreign workers on H1B visas the US Department of Homeland Security has issued new guidance on the 100000 application fee providing a series of exemptions and carveoutsAccording to the new guidelines workers who switch to H1B visa status from other visa categories such as F1 student status wont be subjected to the 100000 feeH1B workers applying for an amendment change of status or extension of stay within the United States wont be subjected to the hefty payment Moreover all the current H1B visa holders wont be prevented from entering or leaving the United StatesThe proclamation only applies to new visa petitions who are outside the US and do not have a valid H1B visa It also provided an online payment link for new applicationsThe clarification comes just two days after US Chamber of Commerce the countrys biggest business organisation sued the Trump administration over the new rules calling it unlawfulIn a lawsuit filed in the district court in Washington on Thursday the plaintiff argued that the visa fee if implemented will inflict significant harm on American businesses and force them to either dramatically increase their labour costs or hire fewer highly skilled employees for whom domestic replacements are not readily availableIt added that Trumps September 19 proclamation was plainly unlawful and a boon to Americas economic rivalsIt was the second major domestic legal challenge to new H1B rules after a group of unions education professionals and religious bodies sued the Trump administration on October 3While signing the proclamation in September Trump had said the incentive is to hire American workersThe proclamation caused immense confusion as it seemed to suggest that it would impact the current H1B visa holders who may face hurdles in returning to the United StatesThe White House issued a clarification to IANS on September 20 saying that this is a onetime fee that applies only to new visas and not renewals or current visa holdersIndiaborn workers received over 70 of the total approved H1B visas in 2024 primarily due to a huge backlog in approvals and high number of skilled immigrants from India IANS https://dailyworld.in/business/us-clarifies-100-000-h-1b-visa-fee-exempts-current-holders-644123.html Tue, 21 Oct 2025 10:27:00 +0530 https://dailyworld.in/business/nse-bse-to-hold-muhurat-trading-in-afternoon-for-1st-time-as-samvat-2082-begins-644130.html Mumbai Oct 21 For the first time in decades Indias stock exchanges are changing the timing of one of the markets most symbolic events the Diwali Muhurat Trading The National Stock Exchange NSE and Bombay Stock Exchange BSE will hold the special trading session in the afternoon today between 145 pm and 245 pm instead of the usual evening slotThis marks the beginning of the new Hindu financial year Samvat 2082Muhurat trading has always been seen as an auspicious event that combines faith and finance Traders and investors believe that making trades during this period brings prosperity and good fortune for the year aheadAccording to the schedule a preopen session will begin at 130 pm on both the NSE and BSE followed by the onehour Muhurat trading sessionAll trades executed during this period will carry normal settlement rules meaning delivery and payment obligations will be completed just like on a regular trading dayCommodity markets will also participate in the festive trading The Multi Commodity Exchange MCX and the National Commodity amp Derivatives Exchange NCDEX will conduct special Muhurat trading sessions todayThe MCX preopen session will run from 130 pm to 144 pm followed by trading between 145 pm and 245 pmClient code modifications will be allowed until 300 pm The NCDEX will follow a similar schedule with its pretrade session from 130 pm to 145 pm and Muhurat trading between 145 pm and 245 pmAs per the Diwali trading schedule on October 22 Wednesday the MCX will remain closed during the morning session and reopen in the evening from 500 pm to 900 pm while the NCDEX will observe a full trading holidayNormal operations on both exchanges will resume on October 23 ThursdayMuhurat trading is a longstanding Diwali tradition that began with the BSE in 1957 and was later adopted by the NSE in 1992In earlier times brokers would perform Chopda Pujan a ritual of worshipping account books to seek blessings for wealth and success in the new yearMarket experts expect a positive and cheerful Muhurat session this year with indices likely to remain in the green amid festive enthusiasm and strong investor sentiment IANS https://dailyworld.in/business/nse-bse-to-hold-muhurat-trading-in-afternoon-for-1st-time-as-samvat-2082-begins-644130.html Tue, 21 Oct 2025 10:33:00 +0530 https://dailyworld.in/business/samsung-electronics-to-use-its-own-exynos-chip-in-upcoming-galaxy-s26-smartphones-644131.html Seoul Oct 21 Samsung Electronics Co plans to use its inhouse Exynos mobile processor in upcoming Galaxy S26 smartphone models industry sources has said The companys System Large Scale Integration LSI division a fabless unit that focuses on designing and developing advanced systemonchip SoC products has completed development of the latest Exynos 2600 chip and will supply it for parts of the Galaxy S26 series starting in November according to the sources reports Yonhap news agencyExynos chipsets are designed and produced by Samsung Electronics semiconductor businessAccording to the sources the companys inhouse tests show strong performance from the Exynos 2600 compared with competitors and the company believes the chip compares favorably with Apple Incs A19 Pro used in the iPhone 17 Pro modelsThe Exynos 2600 is expected to appear in at least one Galaxy S26 model anticipated to be unveiled early next yearIf the toptier Galaxy S26 Ultra uses an Exynos chip it would be the first Ultra model to include an inhouse processor since the Galaxy S22 series in 2022Previously Samsung Electronics used Qualcomm Incs Snapdragon chipsets across all Galaxy S23 models while Exynos appeared only in some S24 variantsThe Galaxy S25 S25 Plus and S25 Ultra launched earlier this year all use Qualcomm Snapdragon chipsMeanwhile launch of the new generation Galaxy S26 series models in India is expected next year in January or MarchAccording to multiple reports and industry watchers the model is slated to compete with with several flagships in the market including the iPhone 17 Pro MaxIf reports can be believed the price of the upcoming Samsung Galaxy S26 Ultra 5G mobile price in India is expected to be around Rs 159999 for the base modelThere is also buzz doing rounds that it may offer 12GB of RAM with 3 storage options of 256GB 512GB and 1TBHowever industry watchers expect that the official pricing will be based on the storage variants IANS https://dailyworld.in/business/samsung-electronics-to-use-its-own-exynos-chip-in-upcoming-galaxy-s26-smartphones-644131.html Tue, 21 Oct 2025 10:34:00 +0530 https://dailyworld.in/business/gold-silver-prices-cool-after-record-highs-jewellery-sales-jump-3540-pc-during-dhanteras-644137.html Mumbai Oct 21 Gold and silver prices fell on Tuesday as investors booked profits after both metals hit record highs in the previous session even as festive jewellery sales during Dhanteras jumped 3540 per cent across India Silver Exchange Traded Funds ETFs which had delivered stellar oneyear returns of around 6570 per cent also saw a sharp correction as global prices cooled following improved physical supply and easing safehaven demandSilver had turned hot earlier this month when global spot prices surged past 40 an ounce amid concerns of a physical shortage The rally extended further crossing 50 in midOctoberHowever by the end of last week prices began to retreat as easing trade tensions reduced safehaven demand On October 17 silver prices in the US fell by over 6 per cent and the correction soon spilled over into Indian marketsAccording to the India Bullion and Jewellers Association IBJA silver prices in India fell 7 per cent on October 20 slipping from Rs 171275 per kg to Rs 160100 per kg The decline directly impacted silver ETFs which mirror domestic silver pricesData from Ace MF shows that silver ETFs logged steep singleday losses with most funds dropping up to 7 per cent on October 20Analysts noted that the ETFs are now trading at or below fair value a sign that investor demand has started to cool after months of heavy inflowsMeanwhile in the international market gold prices also softened after touching record highs on Monday Spot gold was down 03 per cent at 434029 per ounce as of 0248 GMT after hitting an alltime high of 438121 in the previous sessionUS gold futures for December delivery eased 01 per cent to 435640 per ounce as investors booked profits amid expectations of further interest rate cuts by the US Federal ReserveThe Multi Commodity Exchange MCX will also observe special Muhurat trading today October 21 with a preopen session from 130 pm to 144 pm followed by the Muhurat trading window from 145 pm to 245 pmDespite the shortterm correction festive demand for gold and silver remains strong The All India Gem amp Jewellery Promotion Council said that around 50 to 60 tonnes of jewellery were sold nationwide over the two days of Dhanteras generating nearly Rs 85 crore in salesIt added that while the sales volume was similar to last year the overall value grew by 3540 per cent due to higher prices and rising consumer interestSilver in particular has seen a remarkable surge with sales nearly doubling this season With Dhanteras coinciding with the weekend and followed by Diwali and Bhau Beej the fiveday festive period is expected to deliver exceptional results it mentionedWe anticipate total jewellery sales reaching 100 to 120 tonnes valued between Rs 1 lakh crore and Rs 135 lakh crore they said IANS https://dailyworld.in/business/gold-silver-prices-cool-after-record-highs-jewellery-sales-jump-3540-pc-during-dhanteras-644137.html Tue, 21 Oct 2025 10:45:00 +0530 https://dailyworld.in/business/s-koreas-biggest-export-promotion-fair-kicks-off-ahead-of-apec-summit-644160.html Seoul Oct 21 South Koreas largest export promotion fair kicked off Tuesday for a threeweek run to bring global attention to Korean companies ahead of the AsiaPacific Economic Cooperation APEC summit set to take place here later this month the industry ministry said The 2025 Boomup Korea Week is set to run through November 7 bringing some 1700 global companies from 70 countries to discuss business opportunities with around 4000 Korean firms according to the Ministry of Trade Industry and Resources reports Yonhap news agencyThe ministry said it expects more than 10000 export consultations to take place during this years event leading to export deals and memorandums of understanding MOUs worth a combined 350 millionThe fair will also feature 28 affiliated exhibitions aimed at showcasing technologies of various industries including electronics semiconductor future mobility shipbuilding and biohealthBy combining the passion of our entrepreneurs with strong government support we aim to showcase the brand power of Korean companies to the world and help them use this event as a steppingstone for a global leap beyond APEC Trade Minister Yeo Hankoo said in a statementThe APEC summit will be held in the southeastern city of Gyeongju from October 31November 1 alongside a number of business events which will bring together the leaders of APEC member economies and global companiesMeanwhile earlier this month Yonhap reported that the final preparations for the AsiaPacific Economic Cooperation APEC summit are underway ahead of its opening later this month in the southeastern city of GyeongjuThe twoday summit is scheduled to open on October 31 bringing together delegates from the 21 APEC member economies Construction of the summit venue and other facilities has been completed with final inspections being made for the major international gatheringGovernor Lee Cheolwoo of North Gyeongsang Province where Gyeongju is located and Joo Nakyoung the citys mayor checked preparation efforts earlier in the day visiting various sites and boarding a shuttle bus traveling within the city IANS https://dailyworld.in/business/s-koreas-biggest-export-promotion-fair-kicks-off-ahead-of-apec-summit-644160.html Tue, 21 Oct 2025 14:46:00 +0530 https://dailyworld.in/business/gst-20-comes-as-booster-shot-for-uttarakhand-economy-644179.html New Delhi Oct 21 The GST reforms are unlocking wideranging benefits across Uttarakhands economy from small hill farmers cultivating traditional crops to women artisans preserving Aipan and Ringal crafts and from homestay owners in Rishikesh to industrial workers in Rudrapur according to an official statement issued on Tuesday By reducing tax burdens and improving competitiveness the reforms will strengthen livelihood security tourism MSME growth and green entrepreneurshipWith the GST rate reduced from 12 per cent to 5 per cent pahari toor dal has become more competitive in organic and health food markets The measure will benefit small farmers across Chamoli Almora Tehri Nainital and Pithoragarh districts Uttarakhands red rice cultivated in Purola and Mori is also expected to become more competitive particularly in packaged and health food marketsSimilarly farmers growing the GItagged Lakhori Mirchi from Almora known for its distinctive aroma and flavour will benefit due to the GST rate cut from 12 per cent to 5 per centTourism including hotels and restaurants contributes 136 per cent to Uttarakhands economy and provides employment to nearly 80000 people directly and indirectly With the GST rate on hotel tariffs up to Rs 7500 reduced from 12 per cent to 5 per cent the reform is expected to make travel more affordable and benefit small hotels restaurants and homestays across Nainital Mussoorie Auli Chopta Munsyari Haridwar and RishikeshAcross Uttarakhands hill districts locally handknitted sweaters caps and socks form an important seasonal cottage industry led by hill women With the GST rate reduced from 12 per cent to 5 per cent prices are expected to fall leading an increase in demand and higher earnings Similarly artisans producing baskets trays and utility items made of ringal hill bamboo also stand to benefitUttarakhand has 383 registered food processing units primarily located in Rudrapur employing nearly 30000 people The GST rate reduction from 12 per cent to 5 per cent is expected to improve margins encourage value addition and promote investment in sectors such as fruit processing herbal products and organic foods strengthening the states agroindustrial baseThe automobile manufacturing belt across Pantnagar Rudrapur Haridwar and Kashipur employs nearly 50000 people directly and indirectly With the GST rate reduced from 28 per cent to 18 per cent on vehicles up to 1200cc petrol and 1500cc diesel prices are expected to fall This will stimulate domestic demand support manufacturers and create additional employment opportunities across the automobile value chainSimilarly the medical device park located in the State Infrastructure and Industrial Development Corporation of Uttarakhand Limited SIDCUL industrial area will benefit due to the reduction of GST to 5 per cent on these products IANS https://dailyworld.in/business/gst-20-comes-as-booster-shot-for-uttarakhand-economy-644179.html Tue, 21 Oct 2025 15:00:00 +0530 https://dailyworld.in/business/96-pc-of-public-grievance-redressal-targets-achieved-ministry-of-steel-644180.html New Delhi Oct 21 The Ministry of Steel on Tuesday said that 96 per cent of its public grievance redressal targets have already been achieved under the ongoing Special Campaign for Disposal of Pending Matters SCDPM 50 highlighting its commitment to efficiency and good governance The campaign which runs from October 2 to October 31 focuses on improving administrative processes by clearing pending matters related to Members of Parliament MPs the Prime Ministers Office PMO VIPs the Cabinet and State Governments along with cases registered on the Centralised Public Grievance Redress and Monitoring System CPGRAMS96 per cent of public Grievance redressal targets have already been achieved the Ministry of Steel said in its statementAccording to the ministry significant progress has been made so far A total of 8525 physical files has been weeded out while 195 cleanliness drives have been carried out against a target of 282A total of 8525 physical files has been successfully weeded out they addedThe disposal of scrap ewaste and redundant documents has also helped free up nearly 9851 square feet of office spaceSeveral Central Public Sector Enterprises CPSEs under the Ministry of Steel have introduced innovative practices in record management and grievance resolution setting new benchmarks for efficiency and transparencySeveral CPSEs under the Ministry have implemented best practices in record management and grievance resolution setting benchmarks for other departments the ministry addedThe ministry reaffirmed its commitment to promoting cleanliness improving workflow and ensuring the timely resolution of public grievances in line with the governments broader agenda of administrative reform and good governanceThe Ministry of Steel remains committed to enhancing efficiency promoting cleanliness and ensuring timely resolution of pending matters in alignment with the broader goals of administrative reform and transparency it mentioned IANS https://dailyworld.in/business/96-pc-of-public-grievance-redressal-targets-achieved-ministry-of-steel-644180.html Tue, 21 Oct 2025 15:00:00 +0530 https://dailyworld.in/business/diwali-sales-hit-record-rs-540-lakh-crore-over-gst-reforms-robust-consumer-demand-644184.html New Delhi Oct 21 Buoyed by GST reforms and strong consumer demand India saw Diwali sales reach Rs 540 lakh crore in goods and about Rs 65000 crore in services across the country industry figures showed on Tuesday marking the highestever festival season turnover in the countrys retail and trading history This marks a 25 per cent increase over 2024 festive sales Rs 425 lakh crore from the Navratri to Diwali period according to CAIT Research and Trade Development Society the research wing of the Confederation of All India Traders CAITMainline retail accounted for nearly 85 per cent of total sales indicating a strong revival of the brickandmortar market the survey showedThe reduction in GST rates across key consumer and retail categories such as confectionery home decor footwear and readymade garments consumer durables and daily use items significantly improved price competitiveness and increased purchase momentumAbout 72 per cent of surveyed traders reported higher sales volumes directly attributable to reduced GST according to the surveyConsumers expressed greater satisfaction with stable prices amid festive demand aiding consumption continuity postDiwaliThe noncorporate and nonagricultural sector has emerged as a central pillar of Indias growth driven by 9 crore small businesses crores of small manufacturing units and the largest base of consumersThe Diwali trade surge is estimated to have generated temporary employment for nearly 50 lakh people across logistics transport retail assistance packaging and delivery the data showedEnhanced rural and semiurban purchasing power contributed nearly 28 per cent of overall sales highlighting deep economic penetration beyond metrosDiwali 2025 has set a new benchmark in Indias retail and trading economy symbolising the fusion of tradition technology and trust in Indian enterprise said CAIT adding that this years Diwali stands as a major milestone in building an Aatmanirbhar Bharat under the visionary leadership of Prime Minister Narendra Modi IANS https://dailyworld.in/business/diwali-sales-hit-record-rs-540-lakh-crore-over-gst-reforms-robust-consumer-demand-644184.html Tue, 21 Oct 2025 15:03:00 +0530 https://dailyworld.in/business/korean-airs-q3-net-profit-drops-67-pc-over-increased-costs-644192.html Seoul Oct 21 Korean Air Co said on Tuesday its thirdquarter net income declined over 60 per cent from a year earlier as increased operating costs weighed down on its earnings The national flag carriers net profit reached 918 billion won 643 million during the JulySeptember period down 67 per cent from a year ago the airline said in its statementSales dropped 6 per cent onyear to 4 trillion won compared with 424 trillion won from the same period last year Operating profit came to 3763 billion won down 39 per cent onyearThe company said overall operating expenses increased due to higher maintenance costs despite a drop in fuel pricesThe passenger business sales totaled 242 trillion won down 1962 billion won from a year earlier The decline was mainly due to the shift in the Chuseok holiday from September in 2024 to October this year as well as temporary variables including stricter US entry regulationsSales of the cargo business reached 107 trillion won down 531 billion won from last year amid a slight slowdown in the global air cargo market in light of US tariff risksRevenue fell due to increased global supply and intensifying price competition Fuel costs decreased but overall operating expenses rose as depreciation maintenance costs and airport and passengerrelated costs increased reducing operating profit as well the airline saidLooking ahead Korean Air said it expects improved performance across its passenger network in the fourth quarter supported by its performance during the long Chuseok holiday in October and the yearend peak travel seasonWe will improve profit through flexible capacity operations that reflect changes in market conditions the maximum attraction of ecommerce demand and the expansion of high valueadded cargo according to the airline IANS https://dailyworld.in/business/korean-airs-q3-net-profit-drops-67-pc-over-increased-costs-644192.html Tue, 21 Oct 2025 17:24:00 +0530 https://dailyworld.in/business/india-sees-sharp-surge-in-sme-ipos-supported-by-strong-retail-participation-market-sentiment-644198.html New Delhi Oct 21 The SME IPO market in India saw a sharp surge in activity during the financial year 202324 FY 202324 and FY 202425 supported by strong retail participation and favourable market sentiment the latest Reserve Bank of India RBI October Bulletin has said Small and medium enterprises had raised Rs 591719 crore in FY24 to which Rs 566093 crore 9480 per cent was raised issuing fresh shares and Rs 31026 crore 519 per cent through offer for sale OFSThe numbers soared significantly in FY25 with SMEs raising Rs 911097 crore Fresh issues Rs 834437 crore contributed 915 per cent while the OFS part was Rs 7756 crore or 85 per centMost of the SME IPOs during this period recorded high oversubscription levels and listing gainsAccording to the Bulletin Macroeconomic and policy factors like overall market buoyancy and advancement in payment and settlement mechanisms in the IPO market drove this boomThe SME firms used most of the raised funds for capital enhancement or working capital However despite robust listing gains postlisting performances of these SME stocks reveal both opportunities and risks for the investorsWhile the buzz around SME IPOs may seem exciting investing solely on market sentiment can be risky During bullish phases in the market enthusiasm and investors appetite may cause investors to overlook due diligence In this phase demand for IPOs surges and expectations of substantial listing gains can lead to inflated valuations the Bulletin saidHowever market reversals can quickly dampen this optimism SME IPOs may offer impressive gains in favourable conditions but carry higher volatility and risk during downturns making due diligence indispensableInvestors should carefully evaluate the companys fundamentals growth prospects and risk factors before committing capital the bulletin suggestedMeanwhile given the strong growth of startups in India most of which have innovative business models the provision of risk capital for these firms becomes crucialKeeping in view the spurt of SME IPOs in recent months and the associated challenges from the perspective of investor protection SEBI in consultation with NSE BSE and merchant bankers had initiated the review of the IPO framework for the SME segmentThese measures aim to reduce information asymmetry and regulatory arbitrage ensure proper utilisation of IPO proceeds prevent market manipulation and protect retail investors the bulletin noted IANS https://dailyworld.in/business/india-sees-sharp-surge-in-sme-ipos-supported-by-strong-retail-participation-market-sentiment-644198.html Tue, 21 Oct 2025 17:28:00 +0530 https://dailyworld.in/business/sensex-nifty-end-higher-in-muhurat-trading-session-as-samvat-2082-begins-644205.html Mumbai Oct 21 The Indian stock markets edged higher on Tuesday in the special Muhurat trading session held to mark Diwali 2025 and the beginning of the new Hindu calendar year Vikram Samvat 2082 Considered an auspicious event Muhurat trading is a longstanding tradition symbolising prosperity and good fortune for investorsThe Sensex ended 6297 points or 007 per cent higher at 8442634 while the Nifty rose 2545 points or 010 per cent to close at 2586860Despite lighter volumes and bouts of mild profit booking the index maintained its footing well above key shortterm supports underscoring firm underlying momentum and continued investor confidence analysts saidTechnically the structure remains bullish as long as Nifty sustains above 25800 with 25750 acting as immediate support On the downside 2560025500 serves as a key support band while a decisive breakout above 2600026300 could lead to fresh lifetime highs they addedThe Bank Nifty however ended slightly lower by 26 points or 004 per cent at 5800720 The gains extended the markets positive momentum for the fifth consecutive session with sentiment supported by upbeat global cuesTop gainers on the Sensex included Bajaj Finserv Infosys Axis Bank Tata Steel Power Grid and Bajaj Finance On the other hand Kotak Mahindra Bank HCL Technologies ICICI Bank Maruti Suzuki and Asian Paints were among the major losersIn the broader market the NSE Midcap 100 index gained 011 per cent and the Nifty Smallcap 100 index advanced 052 per centAmong sectors Nifty Auto IT Metal Pharma Energy and Oil amp Gas ended with mild gains while Nifty Bank PSU Bank and Realty indices saw minor declinesAll major exchanges BSE NSE MCX and NCDEX conducted the special onehour trading session with block deals from 115 pm to 145 pm followed by a preopen session and normal Muhurat trading between 145 pm and 245 pmThe market experts view the auspicious Muhurat trading as a symbolic start to Samvat 2082 setting a positive tone for investors as Indias stock markets continue to reflect resilience and optimism amid global uncertainties IANS https://dailyworld.in/business/sensex-nifty-end-higher-in-muhurat-trading-session-as-samvat-2082-begins-644205.html Tue, 21 Oct 2025 17:38:00 +0530 https://dailyworld.in/business/minister-nara-lokesh-hails-australias-move-to-import-indian-prawns-644209.html Amaravati Oct 21 Andhra Pradesh Education IT and Electronics Minister Nara Lokesh has welcomed the decision of the Australian government to allow the import of Indian prawns Lokesh who is currently on a visit to Australia to promote CII Partnership Summit scheduled to be held in Visakhapatnam next month revealed through a post on X that Australia has approved the import of Indian prawnsA longstanding hurdle for Indian seafood exporters has been Australias restrictions on unpeeled prawns due to white spot virus detection Today the first import approval for Indian prawns has been granted Our deepest gratitude to the extensive work done by the Indian and Australian Governments to facilitate this he saidWe should continue to open new markets to derisk ourselves from too much dependence on one market he added apparently referring to the US marketThe tariffs imposed by the United States have hit the aqua sector in Andhra Pradesh hardLokesh in another post said that he had deliberations over the past couple of days about deepening the partnership with Australia on the seafood trade Today I met Seafood Industry Australia SIA CEO Veronica Papacosta and Engagement Manager Jasmin Kelleher to discuss partnerships in sustainable aquaculture and trade networking Andhra Pradesh accounts for 60 per cent of Indias seafood exports valued at 74 billion Rs 66000 crore in 202425 he wroteI was impressed that theyve created a brand Great Australian Seafood to promote Aussie seafood and make it a premium offering They have also moved up the value chain We have a lot to learn and we will stay in touch and offer the requisite support to APs seafood industry added LokeshLast month Chief Minister N Chandrababu Naidu appealed to the Centre to support aqua farmers in Andhra PradeshHe had mentioned that Andhra Pradesh accounts for 80 per cent of the countrys shrimp exports and 34 per cent of marine exports with exports valued at around Rs 21246 crore annually About 25 lakh aqua farmer families and 30 lakh people dependent on allied sectors are in difficultyThe Chief Minister stated that US tariffs have had the greatest impact on shrimp exports Losses are estimated at Rs 25000 crore with about 50 per cent of export orders cancelledCM Naidu whose Telugu Desam Party is a key partner in the BJPled NDA government at the Centre wrote separate letters to Union Finance Minister Nirmala Sitharaman Commerce and Industry Minister Piyush Goyal and Fisheries Minister Rajeev Ranjan SinghHe requested the Finance Minister to look into issues such as GST and financial relief the Commerce and Industry Minister to pursue agreements with other countries in the aqua sector and the Fisheries Minister to focus on expanding the domestic marketHe urged the Centre to focus on diversifying export markets beyond the US He suggested entering into Free Trade Agreements FTAs with the European Union South Korea Saudi Arabia and Russia to boost exportsThe CM also sought interim financial support for exporters clarity on tarifftax relief schemes and noted that exporters were ready to supply seafood to the EU IANS https://dailyworld.in/business/minister-nara-lokesh-hails-australias-move-to-import-indian-prawns-644209.html Tue, 21 Oct 2025 17:40:00 +0530 https://dailyworld.in/business/indigo-resumes-flights-from-delhi-airports-terminal-2-from-oct-26-644211.html New Delhi Oct 21 IndiGo will resume operations from Terminal 2 of Delhis Indira Gandhi International Airport starting October 26 after a temporary shift earlier this year due to maintenance work the Indias lowcost carrier said on Tuesday The move is part of the airlines revised terminal plan aimed at improving passenger convenience and streamlining operations across the airportThe airline will now operate flights from all three terminals T1 T2 and T3 with a revised distribution of flight numbers to help improve airport efficiency and passenger convenienceUnder the new plan all IndiGo flights numbered 6E 2000 to 6E 2999 will operate to and from Terminal 2 which is reopening for IndiGo servicesFlights numbered 6E 5000 to 6E 5999 as well as all international flights will depart from and arrive at Terminal 3All other domestic IndiGo flights will continue to operate from Terminal 1 the airline saidWith the objective of enhancing customer convenience and airport efficiency IndiGo will operate flights numbered 6E 2000 6E 2999 tofrom Terminal 2 and flights numbered 6E 5000 6E 5999 along with all international departures tofrom Terminal 3 All other domestic flights will continue to operate tofrom Terminal 1 it mentionedThis change follows a temporary relocation earlier this year in April 2025 when all IndiGo flights were moved from Terminal 2 to Terminal 1 due to maintenance workWith the reopening of T2 the airline has now resumed normal operations across all terminalsIndiGo has advised passengers to check their flight number and terminal details carefully before traveling as terminal changes may also come with flight schedule adjustmentsTravelers can find the latest information on IndiGos website or mobile appMeanwhile IndiGo is also expanding its international footprint with the launch of daily direct flights between New Delhi and Guangzhou China starting November 10The route will be served using the airlines Airbus A320 aircraft The flight from Delhi will depart at 945 PM reaching Guangzhou at 440 AM while the return leg will depart at 550 AM arriving in Delhi at 1010 AMThis marks a significant step in restoring air connectivity between India and China after a long pause since 2020IndiGo recently restarted daily flights between Kolkata and Guangzhou on October 26 becoming one of the first Indian carriers to resume direct service to China IANS https://dailyworld.in/business/indigo-resumes-flights-from-delhi-airports-terminal-2-from-oct-26-644211.html Tue, 21 Oct 2025 17:44:00 +0530 https://dailyworld.in/business/farmers-embrace-innovation-clean-energy-under-pm-modis-leadership-minister-644213.html New Delhi Oct 21 Farmers are embracing innovation and clean energy under the visionary leadership of Prime Minister Narendra Modi Minister of New and Renewable Energy Pralhad Joshi said on Tuesday The minister shared a success story of a farmer generating 25000 units of electricity through solar in his crop field while growing crops under solar panels25000 units of electricity are generated daily from the solar panels above while lush crops flourish in the same fields below a shining example of how Indias farmers are embracing innovation and clean energy under the visionary leadership of PM Modi Joshi wrote on his official X accountEarlier the minister said that India added a record 25 GW of renewable capacity in the AprilSeptember period this year and with approximately 125 GW of solar capacity India is now the worlds third largest solar producerIndia achieves a historic feat in clean energy with a record 25GW renewable capacity added in AprilSeptember 2025 H1FY26 led by solar power This milestone reflects PM Narendra Modis vision for a brighter sustainable future as the nation accelerates its journey to global leadership in renewables the minister statedAs the country accelerates its journey to global leadership in renewables this milestone reflects PM Modis vision for a brighter sustainable future he addedThe nation has surpassed 50 per cent of installed electricity capacity from nonfossil sources meeting its renewable energy goals five years ahead of scheduleThe minister stated that Indias success story is about the people not just the numbers during the opening ceremony for the 8th session of the International Solar Alliance ISA assembly which is set to take place in the nations capital from October 27 to 30 IANS https://dailyworld.in/business/farmers-embrace-innovation-clean-energy-under-pm-modis-leadership-minister-644213.html Tue, 21 Oct 2025 17:48:00 +0530 https://dailyworld.in/business/ola-electric-shares-tumble-after-ceo-bhavish-aggarwal-booked-in-employee-suicide-case-644223.html New Delhi Oct 21 Shares of Bhavish Aggarwalled Ola Electric Mobility came under heavy pressure on Tuesday during the special Muhurat Day trading session following news that the companys top executives have been booked in connection with the suicide of an employee Ola Electrics stock fell as much as 416 per cent touching an intraday low of Rs 5265 per share on the National Stock Exchange NSE At the closing bell the stock was at Rs 5343 down by Rs 151 or 275 per centNearly 45 million equity shares worth Rs 2408 crore were exchanged on both the NSE and the Bombay Stock Exchange BSE during the sessionThe sharp decline in share price followed reports that Bhavish Aggarwal the CEO and founder of Ola along with senior executive Subrath Kumar Das has been named in an FIR filed by Bengaluru policeThe case relates to the alleged suicide of a 38yearold employee K Aravind who reportedly left behind a detailed 28page death note accusing his seniors of workplace harassmentAravind who worked in the companys homologation division allegedly consumed poison at his residence on September 28Despite being rushed to a private hospital he did not survive The police registered a case of abetment to suicide under Section 108 of the Bharatiya Nyaya Sanhita BNS based on a complaint filed by Aravinds brotherThe complaint also raised concerns about financial irregularities amounting to Rs 1746 lakh and accused Olas HR department of failing to explain suspicious money transfers to Aravinds accountA senior police officer confirmed that notices had been issued to all individuals named in the FIR and that written explanations had been submitted The investigation is ongoingOlas spokesperson earlier said they were deeply saddened by Aravinds death and extended condolences to his familyThe company claimed that Aravind had not raised any complaints or grievances during his 35year tenure at Ola Electric nor did he have direct contact with senior leadership including the CEOOla also stated that it has challenged the FIR in the Karnataka High Court where protective orders have been passed in favour of the company and its officialsThe firm said it is fully cooperating with authorities and remains committed to ensuring a safe and respectful work environment IANS https://dailyworld.in/business/ola-electric-shares-tumble-after-ceo-bhavish-aggarwal-booked-in-employee-suicide-case-644223.html Tue, 21 Oct 2025 18:02:00 +0530 https://dailyworld.in/business/india-diversifies-export-market-to-counter-us-tariff-hike-644224.html New Delhi Oct 21 India has succeeded in diversifying its export market with overseas shipments recording a yearonyear growth in over 20 countries across Europe the Middle East Africa and Latin America which has helped to offset the adverse impact of the US tariff turmoil This is reflected in the 9 per cent increase in Indias merchandise exports during the JulySeptember quarter of the current financial yearIndias exports performance remains resilient despite the recent 50 per cent US tariff hike with merchandise exports rising 67 per cent yearonyear in September led by robust growth in highvalue commodities such as electronics engineering goods and marine productsThe 24 countries which recorded a rise in Indian exports include Germany Belgium Italy Poland South Korea the UAE Oman Iraq Egypt Russia Canada Mexico Brazil Kenya Nigeria Tanzania Thailand Vietnam and Sri LankaExports to these countries recorded positive growth in AprilSeptember 202526 with the turnover touching 1293 billion which constitutues a 59 per cent share in Indias total exports according to figures compiled by the Commerce MinistryIndias free trade agreements FTAs with the UK and Europe are expected to further strengthen this diversification in the countrys export marketOn the other hand Indias merchandise exports to the US declined by 1193 per cent to 546 billion in September due to the hike in tariffs imposed by the Donald Trump administrationMeanwhile India and the US are also engaged in talks to sign a bilateral trade agreement as a way out of the current impasse The two countries have made some headway in their trade talks to resolve the tariff issue even as New Delhi has said that it will not rush into an agreementIndias trade delegation led by Commerce Secretary Rajesh Agrawal is reported to have held constructive meetings with US officials in Washington last week a senior official saidWhile the US under the Trump administration hardened its stand on Russian oil purchases by India New Delhi has assured Washington that Indian companies would increase purchases of American oil and gas Since India is the second largest consumer of oil and gas in the world these imports would help to reduce the USAs trade deficit with India an issue that Washington has flaggedCommerce and Industry Minister Piyush Goyal has stated that while the talks with the US are progressing in a very cordial atmosphere these talks are not based on deadlinesThere is no agreement unless we fully address the interests of Indias farmers fishermen and the countrys MSME sector the minister said IANS https://dailyworld.in/business/india-diversifies-export-market-to-counter-us-tariff-hike-644224.html Tue, 21 Oct 2025 18:04:00 +0530 https://dailyworld.in/business/tesla-ceo-elon-musk-extends-diwali-greetings-644096.html New Delhi Oct 20 Tesla and SpaceX CEO Elon Musk on Monday extended Diwali greetings to Indians and millions of people celebrating the festival of lights across the world Musk reposted a Diwali greeting on the social media platform X saying Happy Diwali while tagging a post from his companys subsidiary Tesla India saying Wishing you an electrifying and safe DiwaliMusk on October 2 became the worlds first person ever to reach a net worth of 500 billion followed by Oracles Larry Ellison at a distant second According to Forbes billionaires index Musks net worth stood at 5001 billion on October 2His feat came as Tesla shares rose over 14 per cent so far this year closing 33 per cent higher on Wednesday US time adding more than 6 billion to Musks wealthMusks AI startup xAI was valued at 75 billion as of July xAI was targeting a 200 billion valuation after a fundraise although Musk said the company was not raising capital at that timeMeanwhile Tesla has started delivering standard Model Y to its customers in India while the delivery of the Long Range variant is going to commence soonThe electric vehicle maker has announced that the new Model Y owners will be provided with a complimentary Wall Connector allowing convenient installation in their parking space for easy home charging The Model Y is available at a starting price tag of Rs 5989 lakhIn August Tesla inaugurated its first showroom in the National Capital Region NCR at the Worldmark 3 complex in Aerocity marking the electric carmakers second retail location in India after MumbaiSeveral other global tech industry leaders also extended their Diwali wishes during the day Apple CEO Tim Cook shared wishes along with sharing an image taken by an Indian photographer with an iPhone 17 Pro Max Google CEO Sundar Pichai also extended his greetings for the festival of lights IANS https://dailyworld.in/business/tesla-ceo-elon-musk-extends-diwali-greetings-644096.html Mon, 20 Oct 2025 19:43:00 +0530 https://dailyworld.in/business/vizag-to-be-developed-as-a-trillion-dollar-economic-corridor-lokesh-644108.html Amaravati Oct 20 The government of Andhra Pradesh has set a target of developing Visakhapatnam as a trilliondollar economic corridor State Education IT and Electronics Minister Nara Lokesh said on Monday Stating Andhra Pradesh attracted over Rs10 lakh crore investments in just 16 months he stressed the states ambition to become a 24 trillion dollar economy by 2047Lokesh was addressing the CII Partnership Summit Roadshow in Sydney as part of his visit to Australia to invite investors for Partnership Summit scheduled to be held in Visakhapatnam on November 1415According to his office here he advanced a multipronged agenda of academic industrial and skills partnerships during his second day in Australia engaging with top universities public training institutions and industry leaders to fasttrack Andhra Pradeshs growth as Indias next innovation and investment hubHighlighting Visakhapatnams rapid emergence as a data and industrial hub Lokesh invited business leaders to the CII Partnership Summit emphasizing the states worldclass infrastructure 1051 km of coastline and welcoming policies for new investments Once you sign an MoU with Andhra Pradesh its no longer just your projectits ours as well We provide handholding and expedited approvals at every stage Lokesh assuredLokesh stressed that Andhra Pradesh is committed to transparent accountable and accelerated growth He noted that proactive project managementdown to daily WhatsApp updates involving ministersensures seamless execution for investorsLokesh underlined why Andhra Pradesh is the preferred destination for global investorshighlighting the states experienced visionary leadership businessfriendly reforms young talent and strong execution track record He referenced Chief Minister Chandrababu Naidus historic role in developing HyderabadLokesh called on industry leaders to visit Andhra Pradesh see the states energy and opportunity firsthand and join the states journey to create 2 million jobs in five years When Indian states actively compete for investments India wins This is the new India rapidly reforming and rising to meet its 30 trillion ambition under Prime Minister Modis leadershipLokesh outlined Andhra Pradeshs robust investorfriendly environment under Chief Minister N Chandrababu Naidu He shared that more than Rs 10 lakh crore in investments have been attracted in just 16 months crediting the states speedofdoingbusiness approachAt the University of New South Wales UNSW Minister Lokesh met with senior executives and researchers exploring joint degree programs student exchanges and skills development initiativesparticularly in the fields of STEM Artificial Intelligence AI and Renewable EnergyHe called for collaborative research between Andhra Pradesh universities and UNSW to tackle challenges in sustainable agriculture and water management and sought UNSWs support to establish innovation hubs in Andhra PradeshHe also advocated for partnerships in public health telemedicine smart cities and effective datadriven public policy and governanceUNSW leaders highlighted the institutions global statureplaced among the worlds top 50 universitiesand its track record in pioneering solarpowered vehicles quantum computing and medical breakthroughsUNSW expressed readiness to partner further with Andhra Pradesh in joint research technology transfer and student engagement having already established links with leading Indian institutions and tech hubs IANS https://dailyworld.in/business/vizag-to-be-developed-as-a-trillion-dollar-economic-corridor-lokesh-644108.html Mon, 20 Oct 2025 21:34:00 +0530 https://dailyworld.in/business/indian-economy-shows-resilience-amid-uncertain-external-environment-rbi-644117.html New Delhi Oct 20 The Indian economy continues to exhibit resilience amid an uncertain external environment and remains poised to register high growth The RBIs October Bulletin said on Monday Indicators of capacity utilisation and domestic demand signalled improvement Lead indicators of manufacturing and services continued to show a robust expansion Inflation remained benign well below the target rate the Bulletin saidGlobal uncertainty has edged up In the US both trade and economic policy uncertainty increased in September Global growth however has broadly held up Investor sentiments dampened in October on renewed USChina trade tensions and prolonged US government shutdown after a phase of buoyancyThe Indian economy displayed resilience amidst broader global uncertainty and weak external demand Highfrequency indicators point to a revival in urban demand and robust rural demand Headline consumer price index CPI inflation moderated sharply in September marking its lowest reading since June 2017 according to the RBI BulletinThe IMF revised upwards Indias GDP growth projections for 2025 by 20 bps to 66 per cent Indias growth projection for 2026 was however revised downwards reflecting the mediumterm impact of the steep US import tariffsThe OECD also revised upwards Indias GDP growth projections for 2025 by 40 bps to 67 per cent from the earlier 63 per cent underscoring the continued momentum in domestic demandDespite an external environment that has deteriorated since the August policy the Indian economy remains poised to register high growth The sobering of inflation has given greater leeway for monetary policy to support growth without compromising on the primary mandate of price stability said RBI Governor Sanjay MalhotraAs India strives towards achieving Viksit Bharat by the centenary year of its independence it would need the coordinated support of fiscal monetary regulatory and other public policies to attain its goal he addedThe recent rationalisation of GST rates by the government is a major step in this direction In terms of monetary policy actions we will remain vigilant of the incoming data and stay focussed on our objective of maintaining price stability while supporting growth In pursuit of this objective we will be proactive objective and consistent in our communication while backing it up with credible actions the Governor added IANS https://dailyworld.in/business/indian-economy-shows-resilience-amid-uncertain-external-environment-rbi-644117.html Mon, 20 Oct 2025 23:36:00 +0530 https://dailyworld.in/business/auto-exports-rise-168-pc-in-s-korea-in-sept-on-robust-demand-for-eco-friendly-cars-643971.html Seoul Oct 20 South Koreas auto exports increased 168 per cent from a year earlier in September driven by robust demand for ecofriendly cars in Europe and Asia data showed on Monday The value of outbound shipments of automobiles came to 641 billion last month the highest figure for any September according to the data from the Ministry of Trade Industry and Resources reports Yonhap news agencyIn terms of volume exports gained 11 per cent onyear to 228000 vehiclesThe value of accumulated auto exports from January to September reached an alltime high of 541 billionThe ministry said demand for Korean cars went up in major regions except for North America where Korean cars are currently subject to 25 per cent tariffs by the administration of US President Donald TrumpExports to the European Union surged 528 per cent onyear to 958 million in September while shipments to Asia spiked 623 per cent to 823 millionShipments to North America however shrank 53 per cent to 28 billion with exports to the US dipping 75 per cent to 24 billionBy type exports of ecofriendly cars such as electric vehicles EVs hybrid cars and hydrogen cars soared 475 per cent from a year earlier to 90496 vehicles last monthIt marked the first time monthly exports of ecofriendly cars topped 90000 units accounting for nearly 40 per cent of all auto exportsIn particular shipments of hybrid cars jumped 557 per cent to 57824 vehicles and exports of EVs advanced 389 per cent to 29288 units rising for the fourth consecutive monthAt home sales of automobiles went up 208 per cent onyear to 158000 units last month hitting the highest mark since November 2023Domestic EV sales shot up 135 per cent onyear to an alltime monthly high of 28760 unitsThe accumulated volume of EV sales here in the JanuarySeptember period climbed 575 per cent to 170000 units already surpassing the annual sales of 142000 posted last year according to the dataIt also showed domestic production of cars climbed 89 per cent to 334000 units in September as the number of working days increased from a year earlierThis year the Chuseok holiday fell in early October whereas in 2024 it took place in September IANS https://dailyworld.in/business/auto-exports-rise-168-pc-in-s-korea-in-sept-on-robust-demand-for-eco-friendly-cars-643971.html Mon, 20 Oct 2025 09:22:00 +0530 https://dailyworld.in/business/record-fundraising-in-samvat-2081-indian-companies-raise-rs-29-lakh-crore-despite-muted-market-sentiment-643978.html Mumbai Oct 20 Indian equity markets witnessed a recordbreaking year of fundraising between last Diwali and this Diwali with companies mobilising the highestever amount through mainboard IPOs SME IPOs and qualified institutional placements QIPs in Samvat 2081 During Samvat 2081 as many as 433 Indian firms raised over Rs 29 lakh crore through various routes up from Rs 253 lakh crore raised by 429 firms in Samvat 2080In comparison 251 firms had raised around Rs 79900 crore in Samvat 2079 while 165 firms collected Rs 107 lakh crore in Samvat 2078The achievement came even as secondary market activity remained subdued and listing gains were relatively weak highlighting the continued confidence of investors across all categoriesOf the total fundraising this year 111 companies garnered nearly Rs 18 lakh crore through mainboard IPOs while 275 small and medium enterprises SMEs mobilised Rs 11860 croreAnother 47 firms raised Rs 98993 crore via QIPs Market experts attributed the record mobilisation to strong economic growth favourable market conditions and rising investor confidenceThey pointed out that both domestic and foreign investors ranging from retail buyers to mutual funds and foreign portfolio investors showed keen interest in primary market opportunities even as the broader markets remained flatHowever despite the strong fundraising listing performance in 2025 has been relatively muted Of the 85 mainboard IPOs listed so far this year 29 opened below their issue price while 27 saw modest listing gains of 110 per centTwelve IPOs delivered gains between 1120 per cent 13 rose 2550 per cent and only three stocks managed to gain over 50 per cent on debutAnalysts believe stretched valuations and fading investor enthusiasm contributed to the weaker debutsIn contrast 2024 saw much stronger listing performances That year out of 93 mainboard IPOs five stocks doubled investors money on listing 12 gained 5099 per cent 25 rose 2550 per cent and 30 delivered smaller gains between 125 per centA similar pattern was visible in the SME segment In 2025 218 SME IPOs hit the market of which 76 listed below issue price while 27 delivered 50100 per cent gainsIn 2024 however 247 SMEs debuted and over 100 of them delivered between 50400 per cent returns on listing reflecting the frenzy in smaller issues at the time IANS https://dailyworld.in/business/record-fundraising-in-samvat-2081-indian-companies-raise-rs-29-lakh-crore-despite-muted-market-sentiment-643978.html Mon, 20 Oct 2025 10:16:00 +0530 https://dailyworld.in/business/victory-of-light-over-darkness-union-ministers-extend-greetings-for-diwali-643980.html New Delhi Oct 20 Union Ministers on Monday extended their greetings for Diwali to the countrymen calling the festival of lights a symbol of the victory of light over darkness Diwali symbolises the spiritual victory of Dharma over Adharma light over darkness good over evil and knowledge over ignoranceIt is celebrated with great enthusiasm throughout the country where people light diyas and candles and offer prayers to Lord LakshmiIn a post on social media platform X Union Minister of Commerce and Industry Piyush Goyal shared Heartfelt Diwali greetings to all fellow citizensMay this sacred festival symbolising the triumph of light over darkness and truth over untruth bring happiness prosperity health and renewed energy into the lives of all of us he addedUnion Minister of Petroleum and Natural Gas Hardeep Singh Puri wished citizens happiness and prosperityHeartiest congratulations and best wishes to all of you on the sacred festival of Diwali a symbol of the victory of light over darkness truth over untruth and righteousness over unrighteousness May this sacred festival of light bring happiness and prosperity to everyones life that is the wish Puri saidUnion Minister for Food and Civil Supplies Pralhad Joshi called for strengthening the bonds of harmony in societyHeartfelt greetings to all on the auspicious occasion of Diwali May the festival bring peace prosperity and positivity to every home and strengthen the bonds of harmony in our society the Minister saidOn this sacred festival of Deepotsav heartfelt greetings to all my fellow countrymen May this grand festival of lights illuminate your lives with happiness prosperity and renewed energy and by the grace of Lord Shri Ram may our nation continue to advance steadfastly on the path of progress and glory added Union Minister for Communications Jyotiraditya M Scindia on XUnion Parliamentary Affairs and Minority Affairs Minister Kiren Rijiju also extended greetings on the occasion of Diwali wishing love peace and harmony across the countryTo all my fellow citizens Happy Diwali May the divine glow of diyas bring warmth happiness amp success to every home May this festival inspire us to spread love peace amp harmony across our nation Rijiju posted on XEarlier President Droupadi Murmu and Prime Minister Narendra Modi also extended Diwali greetings to the countrymen and wished for happiness and prosperity for all IANS https://dailyworld.in/business/victory-of-light-over-darkness-union-ministers-extend-greetings-for-diwali-643980.html Mon, 20 Oct 2025 10:26:00 +0530 https://dailyworld.in/business/india-ranks-second-globally-in-refurbished-smartphone-growth-report-644022.html New Delhi Oct 20 India saw a 5 per cent yearonyear YoY increase in refurbished smartphone sales in H1CY25 marking the secondfastest growth globally a report has said Apples iPhones drove growth with refurbished iPhone sales in India increasing by 19 per cent fuelled by strong demand for premium models like the iPhone 13 and iPhone 14 series according to the report from global market research firm Counterpoint ResearchThe report indicated that the ongoing premiumisation of the broader smartphone market is now extending to refurbished devices as well supported by rising consumer awareness stronger supply chains and surging demand for highend modelsAfrica led global growth with a 6 per cent increase driven by strong iPhone demand the report noted Apple secured the second position in Indias refurbished market as Samsung maintained the top spot though experiencing a minor 1 per cent decline Samsungs lead was maintained by consistent demand for its Galaxy S22 and S23 models Additionally the Samsung Galaxy S22 and S21 were among the topselling models in India the report saidSoutheast Asias preowned smartphone market also grew 5 per cent YoY in H1 2025 fueled by its large unorganised channels and steady inflow of used devices and components from ChinaOnline platforms are driving the consumertoconsumer C2C market especially for refurbished smartphones This growth is fuelled by increasing consumer trust better supply chains and the convenience of initiating negotiations and transactions digitally the research firm saidOrganised retailers in India are solidifying buyback initiatives in both online and offline markets by promoting flagship models as reliable and valuedriven alternatives Retailerdriven exchange programs extended warranty offerings are also driving demand for newer refurbished devices Apples iPhone exports totalled approximately 10 billion accounting for over 75 per cent of shipments in the first half of the year IANS https://dailyworld.in/business/india-ranks-second-globally-in-refurbished-smartphone-growth-report-644022.html Mon, 20 Oct 2025 16:43:00 +0530 https://dailyworld.in/business/gold-shines-on-softer-dollar-prices-rise-over-07-pc-on-mcx-644023.html New Delhi Oct 20 Gold prices rose on Monday morning on the MultiCommodity Exchange MCX supported by strong spot demand and a weaker US dollar During the early trade MCX Gold December futures were trading 078 per cent higher at Rs 128005 per 10 grams while Silver December contracts gained 041 per cent to Rs 157240 per kgThe recovery in gold came after a steep fall in the previous session as global investors had booked profits following US President Donald Trumps comments on China tariffsHis remarks pushed traders to shift from safehaven assets like gold to riskier investmentsIn the international market gold prices climbed to 4255 per ounce on Monday after a sharp decline on FridayExperts said the focus has now turned to the upcoming talks between the US and China US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are scheduled to meet this week with Trump expressing optimism that the discussions could lead to an agreementHe also admitted last week that his proposed high tariffs on Chinese goods were unsustainableOn Friday gold prices had seen a sharp selloff MCX Gold December futures dropped 2 per cent to Rs 127320 per 10 grams while US gold futures fell over 2 per cent to close at 421330 per troy ounceDespite the recent volatility gold prices have risen more than 70 per cent in the domestic spot market over the past yearAnalysts attribute this surge to global economic uncertainties strong central bank buying expectations of US Federal Reserve rate cuts and increased inflows into gold exchangetraded funds ETFsExperts believe gold will continue to find support if geopolitical tensions persist and the dollar remains weakThe sustained uncertainty in the US economy and delayed data releases have kept investors inclined toward gold as a defensive asset experts saidWith momentum staying firmly bullish gold is likely to remain elevated as long as risk sentiment stays weak they added IANS https://dailyworld.in/business/gold-shines-on-softer-dollar-prices-rise-over-07-pc-on-mcx-644023.html Mon, 20 Oct 2025 16:44:00 +0530 https://dailyworld.in/business/silver-trades-flat-8-pc-off-peak-level-644030.html New Delhi Oct 20 Silver was trading flat on Monday eking out gains of 01 per cent approximately 8 per cent below its peak price The metal was trading at Rs 156755 per kg with analysts forecasting that the silver may fall further on profitbooking as investors cash in on their gains Silver future prices experienced a significant decline on its last trading day on MCX on October 17 dropping nearly 10 per cent from session highsMetal prices fell from a session high of Rs 170415 per kilogramme to a low of Rs 153700 before closing at Rs 157300 marking a 044 per cent increase from the previous closeGlobal prices declined from a record high of nearly 54 an ounce to approximately 5150 marking a 6 per cent decreaseAnalysts attributed the decline to reduced safehaven demand following a softening of USChina trade tensions as US President Donald Trump admitted that proposed additional tariffs were unsustainableBroking firm Motilal Oswal said that the metal is currently exhibiting dynamics consistent with a major structural revaluation distinguishing the current rally from previous speculative cyclesThe brokerage noted that the metals volatility at approximately 17 times faster than gold in either direction confirms that the current rally is fundamentally stronger than speculative bursts seen in 1980 or 2011The metals extensive use in manufacturing has increased the demand and driven up prices Stability in regional bank results easing of liquidity crunch in silver in the London market and increasing bond yields pressured nonyielding assets such as precious metalsMP Financial Advisory Services earlier in this week said that the silvers function as an industrial input may drive its price over 50 per ounceThanks to industrial demand silver has the required merits to cross over the 50 mark this time the report saidSilver prices rose from 24 an ounce to approximately 47 ounce from November 2022 to October 2025 bolstered by industrial demand in solar panels electronics and electric mobility IANS https://dailyworld.in/business/silver-trades-flat-8-pc-off-peak-level-644030.html Mon, 20 Oct 2025 16:52:00 +0530 https://dailyworld.in/business/earnings-driven-recovery-for-indian-markets-market-watchers-on-samvat-2082-644037.html New Delhi Oct 20 The stage is set for an earningsled recovery in Indias equity markets market watchers said on Monday as Samvat 2082 is set to begin on October 21 Amisha Vora Chairperson and Managing Director PL Capital said that the coming year offers investors an opportunity to participate in Indias next leg of compounding driven by revival in corporate earnings and broadbased economic expansionAs we usher in Samvat 2082 optimism is gradually returning to Indian markets The year gone by tested investor patience with India lagging global peers despite strong domestic fundamentals Vora saidSamvat 2082 will begin on October 21 and a symbolic Muhurat session will be conducted to mark the start of the Vikram Samvat year in the Hindu calendarVora highlighted structural reforms the implementation of GST 20 income tax relief and a supportive policy stance as factors contributing to growth and easing liquidity conditionsIndias GDP is expected to grow by approximately 68 per cent in FY26 among the fastest globally underscoring the countrys resilient growth narrative Vora addedValuations are reasonable earnings downgrades have largely bottomed out and domestic inflows continue to demonstrate remarkable strength even as foreign investors remain cautious she mentionedThis creates a favourable setup for Indian equities to outperform in the new Samvat Vora forecastedAnalysts forecasted that the average earnings from Nifty 50 companies are expected to grow 8 per cent in FY26 and 16 per cent in FY27 driven by policy measures macro resilience and a maturing domestic investor baseMotilal Oswal Financial Services Ltd MOFSL said that it is positive on BFSI capital markets consumption manufacturing and digital sectorsWhile global headwinds such as trade frictions and slowing growth persist analysts noted that India stands out as a macrostable liquidityrich and policysupported economy IANS https://dailyworld.in/business/earnings-driven-recovery-for-indian-markets-market-watchers-on-samvat-2082-644037.html Mon, 20 Oct 2025 17:00:00 +0530 https://dailyworld.in/business/india-us-trade-talks-make-headway-but-no-rush-for-agreement-644038.html New Delhi Oct 20 India and the US have made some headway in their trade talks to resolve the tariff issue even as New Delhi has said that it will not rush into an agreement Indias trade delegation led by Commerce Secretary Rajesh Agrawal is reported to have held constructive meetings with US officials in Washington last week a senior official saidWhile the US under the Trump administration hardened its stand on Russian oil purchases by India New Delhi has assured Washington that Indian companies would increase purchases of American oil and gas Since India is the secondlargest consumer of oil and gas in the world these imports would help to reduce the US trade deficit with India an issue that Washington has flaggedCommerce and Industry Minister Piyush Goyal has stated that while the talks with the US are progressing in a very cordial atmosphere they are not based on deadlinesThere is no agreement unless we fully address the interests of Indias farmers fishermen and the countrys MSME sector the minister saidUS President Donald Trump claimed last week that Prime Minister Narendra Modi has assured him that India will reduce purchases of Russian crude oilIn response to this claim India also issued a statement on Thursday that the countrys import policy for oil and gas is guided entirely by the interests of the Indian consumer amid a volatile global energy marketIndia is a significant importer of oil and gas It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario Our import policies are guided entirely by this objective Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy This includes broadbasing our energy sourcing and diversifying as appropriate to meet market conditions Ministry of External Affairs Minister Randhir Jaiswal saidWhere the US is concerned we have for many years sought to expand our energy procurement This has steadily progressed in the last decade The current administration has shown interest in deepening energy cooperation with India Discussions are ongoing he addedOn Wednesday Commerce Secretary Agrawal said energy purchases from the US largely crude oil have fallen from 25 billion to around 1213 billion in the past seven to eight years So there is headroom of around 1215 billion which we can purchase without worrying about the configuration of refineries he said while responding to a question on whether India could step up oil imports from the US to strike a dealThere is a bilateral commitment and in the discussions we are in we have indicated very positively that India as a country would like to diversify its portfolio as far as energy imports are concerned Thats the best strategy for a big buyer like India he said IANS https://dailyworld.in/business/india-us-trade-talks-make-headway-but-no-rush-for-agreement-644038.html Mon, 20 Oct 2025 17:00:00 +0530 https://dailyworld.in/business/new-zealands-annual-inflation-at-3-per-cent-in-september-2025-quarter-statistics-644040.html Wellington Oct 20 New Zealands annual inflation reached 3 per cent till the September 2025 quarter following a 27per cent increase in the year till the June 2025 quarter Stats NZ reported Monday This met the upper limit of the Reserve Bank of New Zealands 13 per cent target band for the annual inflation rate according to a statement of the Statistics Department Xinhua News Agency reportedThe 30 per cent annual inflation rate in the September 2025 quarter is the highest since the June 2024 quarter when it was 33 per cent Stats NZ prices and deflators spokesperson Nicola Growden saidThe largest contributors to the annual inflation rate were all in the housing and household utilities group led by power rent and local authority rates with the top three contributors making up around 17 per cent of the weight in the basket of New Zealands consumer price index Stats NZ saidElectricity prices jumped 113 per cent over the year the largest annual gain since the March 1989 quarter when they rose 128 per cent statistics showAnnual electricity increases are at their highest since the late 1980s when there were several major reforms in the electricity market Growden saidPrices fell over the year for pharmaceuticals telecoms equipment and petrol helping offset some cost pressures Stats NZ saidOn a quarterly basis consumer prices rose 1 per cent in the September 2025 quarter compared with the June 2025 quarter driven largely by higher local authority rates and a 122per cent increase in vegetable prices due to seasonal factors it saidActing Finance Minister Chris Bishop said expectations are for inflation to drop towards 2 per cent in the first half of 2026 easing pressure on households and businessesOn October 16 Stats NZ reported that food prices in New Zealand rose 41 per cent in the 12 months to September 2025 marking the smallest annual increase since April this yearThe grocery food group contributed most to the rise up 39 per cent annually according to the Statistics Department statementKey staples saw significant annual price hikes white bread increased 496 per cent cheese rose 314 per cent butter climbed 289 per cent and milk was up 151 per cent Stats NZ saidVegetables also increased by 52 per cent annually with cabbage nearly doubling in price from September 2024 to September 2025 the highest in nearly three years and lettuce was up 55 per cent it saidAll five food groups continue to grow annually but the rate of increase for overall food prices has slowed this month Growden saidHowever monthly food prices fell 04 per cent in September compared with August driven by price drops in vegetables and chocolate marking the first monthly decline since February 2025 statistics show IANS https://dailyworld.in/business/new-zealands-annual-inflation-at-3-per-cent-in-september-2025-quarter-statistics-644040.html Mon, 20 Oct 2025 17:01:00 +0530 https://dailyworld.in/business/annual-additional-spending-of-companies-to-hit-12-trillion-amid-us-tariffs-report-644052.html New Delhi Oct 20 US President Donald Trumps tariffs are expected to be a major contributor to a 12 trillion rise in corporate expenses this year a report said on Monday President Trumps tariffs combined with wage growth increased energy costs and rising capital expenditure for AI will lead to this trilliondollar increase in corporate expenses in 2025 much of which is being passed on to consumers through hiked prices of products according to the report by SampP GlobalSampP revised its expenses forecast released in January based on the analysis of roughly 9000 public companies The recent estimate now projects total company expenses for the year will reach 53 trillion the report saidThe ratings agency indicated that the shock has significantly reduced global corporate margin expectations with sellside analysts for major retailers including Walmart Amazon and Costco Wholesalers projecting a total of 907 billion in lost profitApproximately twothirds of this lost profit or 592 billion has been passed to consumers via higher prices while the remaining 315 billion has impacted company earningsThe study also found expense increases of 155 billion for uncovered public firms and 123 billion for private equity and venture capitalbacked firms totalling an incremental cost of 12 trillionThe report also added that the tariffs have led to a decline in real output as production of goods decreasesA debate had arisen in the US regarding who bears the brunt of tariffdriven price hikes President Trumpappointed Fed Governor Christopher Waller said that the effects of tariffs on inflation have been modest and primarily affect higherincome households Other analysts however argued that lower and middleincome families bear the greatest burdenEarlier this month President Trump denounced Chinas export control move and threatened to call off the planned meeting with Chinese President Xi JinpingHe also announced plans to impose an additional 100 per cent tariff on Chinese goods starting November 1 but later softened his tone calling the tariffs unsustainable IANS https://dailyworld.in/business/annual-additional-spending-of-companies-to-hit-12-trillion-amid-us-tariffs-report-644052.html Mon, 20 Oct 2025 17:13:00 +0530 https://dailyworld.in/business/festive-cheer-lifts-markets-as-sensex-nifty-extend-winning-streak-644057.html Mumbai Oct 20 Indian stock markets continued their upward momentum on Monday with benchmark indices closing higher for the fourth straight session supported by gains in banking IT and oil and gas stocks The Sensex ended 41118 points or 049 per cent higher at 8436337 while the Nifty advanced 13330 points or 052 per cent to close at 2584315From a technical standpoint Niftys breakout above 25660 has now been sustained for the second consecutive session turning that zone into a strong support base analysts saidThe next resistance zone is seen around 2600026300 where some profittaking could emerge As long as the index holds above 25750 the bullish momentum is expected to continue they addedOn the downside 25600 remains the Support zone while a break below 25500 could trigger mild consolidation toward 25200 market experts statedFor Samvat 2081 both indices delivered singledigit gains with the Sensex and Nifty rising a little over 6 per cent during the yearOn the BSE Bajaj Finserv and Axis Bank were among the top gainers while ICICI Bank Mahindra amp Mahindra and Eternal were the major laggardsOn the NSE Cipla Bajaj Finserv led the gains whereas ICICI Bank Mahindra amp Mahindra and JSW Steel ended lowerBroader markets also closed in the green The Nifty Midcap 100 index rose 075 per cent and the Nifty SmallCap 100 index added 046 per centAmong sectoral indices Nifty PSU Bank emerged as the top performer with a sharp gain of 287 per cent driven by strong buying in public sector banksOn the other hand Nifty Auto was the only major index to end in the red slipping 016 per centAnalysts said that investor sentiment remained upbeat with positive earnings reports and festive optimism continuing to support the markets upward trendThe Indian market extended its positive momentum driven by betterthanexpected Q2 results from major companies and festival optimism Positive global cues further bolstered investor sentiment with easing trade narratives between the USChina and rise in European market led by defence stocks experts notedAdditionally improved FII inflows in the cash market turned the domestic market into a net buyer in October they added IANS https://dailyworld.in/business/festive-cheer-lifts-markets-as-sensex-nifty-extend-winning-streak-644057.html Mon, 20 Oct 2025 17:18:00 +0530 https://dailyworld.in/business/inmarsat-satellite-phone-services-restored-for-tns-fishermen-stranded-at-sea-fm-sitharaman-644059.html New Delhi Oct 20 Union Finance Minister Nirmala Sitharaman on Monday said that the Inmarsat satellite phone services has been restored for over 30 fishermen from Tamil Nadu who were stranded at sea The British satellite telecommunications company restored satellite phone services after interventions from the Department of Telecommunications DoT and Bharat Sanchar Nigam Limited BSNL Sitharaman informed in a post on social media platform XThe fishermen belonging to Tamil Nadus Kanyakumari district were left stranded at sea amid turbulent weather she said stating that the issue was flagged by the Fishermen Cell of the Bharatiya Janata Party BJP The men were left stranded after the Inmarsat satellite phone connection used by fishermen in the deep sea malfunctionedHeartening to note that Inmarsat satellite phone services have been restored for over 30 fishermen currently out in the deep sea following the intervention of BSNLCorporate and DoTIndia the Finance Minister saidThe private operator has temporarily resumed connectivity successfully for many users enabling communication with those at high sea she addedThe Finance Minister said her office had spoken with Father Thomas of St Marys Church Vallavilai who raised concerns over the loss of Inmarsat satellite phone connectivity with several fishing boats currently at seaThe weather alert is now reaching most of the fishermen and they are taking necessary precautionary measures to return safelyBSNL and DoTIndia are working closely with the private operator to ensure that services are restored for the remaining fishermen as per their requirements Sitharaman saidMy office has conveyed about the phone services being restored to the Father Thomas Vallavalai village who expressed his relief and gratitudeThe Government of India under the leadership of Prime Minister Narendra Modi remains deeply committed to the welfare safety and security of Tamil Nadus fishermen and stands firmly with them in their hour of need Sitharaman saidMeanwhile the India Meteorological Department IMD said that the intensified monsoon has led to the formation of a persistent lowpressure trough over southern Kerala and adjoining Comorin Sea regions while a deep depression over the southeast Arabian Sea and Lakshadweep area continues to hover in the same zoneFishermen are advised not to venture into Southeast and adjoining Eastcentral Arabian Sea Lakshadweep and Comorin Area and along and off Karnataka Kerala and adjoining South Tamil Nadu coasts till October 21 and over southwest and adjoining southeast and west central Arabian Sea during October 22 and 23 the meteorological department said in a press releaseFishermen have been advised to return to the shore as strong winds of 3555 kmph are expected over the south and central Bay of Bengal the Arabian Sea near Kerala Karnataka Lakshadweep and Maldives areas until October 23 IANS https://dailyworld.in/business/inmarsat-satellite-phone-services-restored-for-tns-fishermen-stranded-at-sea-fm-sitharaman-644059.html Mon, 20 Oct 2025 17:20:00 +0530 https://dailyworld.in/business/aws-outage-brings-half-the-internet-down-644065.html New Delhi Oct 20 Amazon Web Services is facing a major outage on Monday that has affected online services globally including AI platforms ecommerce platforms popular websites and online games Access to Amazons virtual assistant technology Alexa the social media app Snapchat online game Fortnite the AI platform ChatGPT Epic Games Store and Epic Online Services was disruptedAmazon Web Services Inc is a subsidiary of Amazon that provides ondemand cloud computing platforms and APIs to individuals companies and governments on a metered payasyougo basisAmazon reported that it is investigating increased error rates and latencies for multiple AWS services in the USEAST1 Region and that multiple services are impacted by operational issuesUsers on social media platform Reddit reported that the Alexa smart assistant is down and unable to respond to queries or complete requestsAWS cloudhosted platforms such as Perplexity Airtable Canva and the McDonalds app were also affected according to user reportsThe cause of the outage hasnt been confirmed and its unclear when regular service will be restoredPerplexity CEO Aravind Srinivas informed on social media platform X Perplexity is down right now The root cause is an AWS issue Were working on resolving itAWS outage knocks Amazon ChatGPT Alexa and dozens of apps offlineThe AWS dashboard first reported issues affecting the USEAST1 Region at 311AM Eastern Time ET We are actively engaged and working to both mitigate the issue and understand root cause We will provide an update in 45 minutes or sooner if we have additional information to share Amazon saidLater at 527 am ET Amazon reported significant signs of recovery adding that most requests should now be succeeding We continue to work through a backlog of queued requests it saidAWS outages in the USEAST1 region had caused widespread disruptions in 2020 2021 and 2023 leading to extended downtime for various sites and applications IANS https://dailyworld.in/business/aws-outage-brings-half-the-internet-down-644065.html Mon, 20 Oct 2025 17:51:00 +0530 https://dailyworld.in/business/rs-7-000-cr-firecracker-sales-light-up-sivakasi-this-deepavali-644066.html Chennai Oct 20 The country witnessed a spectacular Deepavali celebration this year marked not only by dazzling fireworks but also by recordbreaking sales According to the Fireworks Traders Federation firecrackers worth around Rs 7000 crore were sold during the festive season indicating a significant jump of Rs 1000 crore compared to last years Rs 6000 crore turnover Every year millions across India celebrate Deepavali the festival of lights by wearing new clothes decorating their homes and bursting an array of colourful crackers This year the festival spirit was particularly high drawing large crowds to Tamil Nadus Sivakasi Virudhunagar and Sattur the countrys key fireworks manufacturing hubs Traders reported that buyers from across the nation flocked to these towns in the runup to the festival Orders also poured in from other states reflecting renewed enthusiasm after years of subdued celebrations due to environmental restrictions and pandemicrelated slowdowns This years market also saw a wave of innovation The introduction of new varieties of crackers such as the Pizza and Watermelon models known for their vibrant colours and creative displays captured public attention and became instant bestsellers Manufacturers said that the strong demand for such innovative products helped boost overall sales The Federation attributed the surge in sales partly to the relaxation of restrictions in several states In particular the recent court approval allowing the bursting of green crackers in Delhi where a blanket ban had been in place for several years significantly boosted demand nationwide Sivakasi often referred to as Indias fireworks capital employs thousands of workers and accounts for nearly 90 per cent of the countrys firecracker production Traders said that this years festival brought muchneeded relief to the industry which had faced uncertainty due to environmental concerns and regulatory hurdles With the sparkle of fireworks once again lighting up the skies across India Deepavali 2025 not only rekindled festive cheer but also reignited hope among thousands of smallscale manufacturers and traders in Tamil Nadus fireworks belt IANS https://dailyworld.in/business/rs-7-000-cr-firecracker-sales-light-up-sivakasi-this-deepavali-644066.html Mon, 20 Oct 2025 17:51:00 +0530 https://dailyworld.in/business/gst-reforms-to-raise-organised-apparel-revenues-by-200-bps-report-644072.html New Delhi Oct 20 Indias organised apparel retail sectors revenue is expected to grow by around 200 basis points this fiscal year due to recent GST rationalisation a report said on Monday The revenue from the organised apparel retail sector will thus maintain a growth rate of 1314 per cent for the second consecutive fiscal year according to a report from ratings firm Crisil RatingsThe GST rate cut on apparel priced below Rs 2500 is likely to lift demand in the midpremium segment while the fast fashion or value segment will continue to drive the momentum Crisils analysis of 40 organised retailers revealed The GST relief though limited provides timely support to sustain growth the ratings firm saidThe uniform 5 per cent GST rateversus the previous dual structure of 5 per cent below Rs 1000 and 12 per cent between Rs 1000 and Rs 2500has widened the consumption base the report saidThe increase in the GST rate on apparel priced above Rs 2500 from 12 per cent to 18 per cent has weighed on premium categories including wedding wear woollens handlooms and embroidered clothing the firm noted The premium segment accounts for about 35 per cent of organised apparel salesCrisil said that since the fastfashionvalue and midpremium apparel mostly priced under Rs 2500 make up nearly 65 per cent of the sectors revenue stronger sales in these lowerpriced items will likely balance out the slow growth in the higherpriced apparel segmentWith the timing of the GST rate cut coinciding with the festive season demand should increase as middleclass spending picks up said Anuj Sethi Senior Director Crisil RatingsMoreover benign inflation easing food costs and faster fashionrefresh cycles will help retailers gain a modest shareofwallet advantage in discretionary categories leading to sustained sectoral revenue growth of 1314 per cent this fiscal year Sethi saidPoonam Upadhyay Director Crisil Ratings said that lower cotton prices and a reduction in GST on synthetic fibres and yarn to 5 per cent will ease input costs which account for nearly twothirds of production expenses IANS https://dailyworld.in/business/gst-reforms-to-raise-organised-apparel-revenues-by-200-bps-report-644072.html Mon, 20 Oct 2025 17:55:00 +0530 https://dailyworld.in/business/bank-nifty-hits-record-high-on-strong-q2-show-by-private-lenders-644073.html Mumbai Oct 20 The Bank Nifty index touched a fresh record high on Monday driven by a strong rally in private bank stocks following robust secondquarter results The index jumped over 500 points or around 1 per cent to reach 5824250 during the sessionAU Small Finance Bank led the gains soaring nearly 8 per cent to Rs 85410 apiece Although the banks net profit for the September quarter slipped about 2 per cent yearonyear YoY to Rs 561 crore its net interest income rose by almost 9 per cent to Rs 2144 crore boosting investor sentimentFederal Bank and IDFC First Bank shares also surged around 7 per cent each after reporting strong earnings for Q2 FY26 Among other gainers Punjab National Bank PNB Axis Bank and Canara Bank advanced over 2 per cent each while IndusInd Bank State Bank of India SBI and Bank of Baroda added nearly 2 per cent Heavyweights Kotak Mahindra Bank and HDFC Bank were also trading higher with marginal gainsHowever ICICI Bank shares bucked the trend falling more than 2 per cent after the lender posted moderate loan growth in the second quarter of FY26Analysts attributed the rally to broadbased strength across both private and public sector banks They said that the banking index scaled a new high on strong participation from across the sector Experts added that the next upside targets for Bank Nifty are 58500 and 60000 while support levels are placed at 56500 and 55800 in case of profittakingAnalysts also noted that 5730057000 is likely to act as a key support zone for the index with resistance seen around 5830058500The strong performance of the banking index reflects renewed optimism among investors supported by healthy earnings and improving credit growth across the sector market experts mentioned IANS https://dailyworld.in/business/bank-nifty-hits-record-high-on-strong-q2-show-by-private-lenders-644073.html Mon, 20 Oct 2025 17:56:00 +0530 https://dailyworld.in/business/maldives-keralaites-hit-by-fresh-dollar-remittance-restrictions-644082.html Thiruvananthapuram Oct 20 Around 7000 Keralaites working in the Maldives are facing a financial crisis following fresh restrictions imposed by the Maldives Monetary Authority MMA on dollar remittances The new cap limits monthly transfers to just USD 150 significantly impacting expatriates who earn in Maldivian Rufiyaa MVRPreviously the remittance ceiling was USD 700 later reduced to USD 500 and now drastically cut to USD 150 approximately Rs 13000 Many workers say this amount is insufficient to support families back home or repay loans taken to secure employment in the archipelagoThis is going to be a huge crisis for people like me said a Keralaite employed in the Maldives We have families to support and debts to repay With just Rs 13000 allowed for remittance our situation is direThe affected workforce includes professionals in healthcare doctors nurses paramedics as well as teachers and tourism sector employeesEconomist Mary George noted that the Bank of Maldives the countrys monetary authority is facing a severe downturn Maldives is currently in a financial situation similar to Indias 1990 crisis Unlike India which leveraged its gold reserves the Maldives lacks such options she saidThe remittance restrictions have triggered widespread concern among the expatriate community many of whom fear longterm financial instability if the policy continues IANS https://dailyworld.in/business/maldives-keralaites-hit-by-fresh-dollar-remittance-restrictions-644082.html Mon, 20 Oct 2025 18:33:00 +0530 https://dailyworld.in/business/nifty-sensex-end-samvat-2081-on-strong-note-with-6-pc-return-644092.html New Delhi Oct 20 Indias stock market began Samvat 2082 with strong momentum as the NSE Nifty 50 and BSE Sensex closed over the oneyear high mark on the final day of Samvat 2081 on Monday In Samvat 2081 the benchmark Nifty 50 has returned around 6 per cent since last Diwali and its oneyear returns stood at 358 per cent The BSE benchmark Sensex returned 319 per cent in the last year and around 6 per cent in Samvat 2081The Nifty Bank index reached a new high during todays session with the Nifty PSU Bank emerging as the leading sectoral gainerMeanwhile the Nifty Bank delivered 12 per cent The Nifty Midcap 100 rose by 5 per cent whereas the Nifty Smallcap 250 dropped by 4 per cent Nifty at 25840 and Sensex at 84363 have approached near the alltime highs reached in September 2024 of 26178 and 85571 respectivelySectoral performance in Samvat 2081 stood at Nifty Auto rising 16 per cent Nifty PSU Bank increasing 14 per cent and Nifty Metal gaining 9 per cent Nifty IT Nifty Energy Nifty Realty FMCG and Pharma were the notable losersTop performers among stocks were Bajaj Finance Maruti Suzuki Bharat Electronics and InterGlobe Aviation clocking returns in the range of 45 to 55 per centDuring Samvat 2081 as many as 433 Indian firms raised over Rs 29 lakh crore through various routes up from Rs 253 lakh crore raised by 429 firms in Samvat 2080Muhurat trading the onehour Diwali session marking the new Samvat 2082 is scheduled for October 21 from 145 pm to 245 pmHistorically indices have closed higher in most Muhurat sessions with typical gains ranging from 04 per cent to 09 per cent except for marginal dips in 2016 and 2017 IANS https://dailyworld.in/business/nifty-sensex-end-samvat-2081-on-strong-note-with-6-pc-return-644092.html Mon, 20 Oct 2025 19:10:00 +0530 https://dailyworld.in/business/us-tariffs-trade-deal-talks-q2-results-likely-to-drive-market-sentiment-next-week-643881.html Mumbai Oct 19 The coming week is expected to be crucial for Indian stock markets as quarterly earnings US tariffs trade deal developments and FPI activity are likely to shape market sentiment Any updates from the United States on tariffs against China or progress on the IndiaUS trade deal will likely influence market trendsUnion Commerce Minister Piyush Goyal recently said that discussions on the proposed IndiaUS bilateral trade agreement are progressing rapidly and in a positive atmosphereAt present Indian equity indices are trading at alltime highs If both countries announce a bilateral trade agreement the market could witness a fresh rallySeveral major companies including HUL SBI Life Dr Reddys and SBI Card have already announced their JulySeptember quarter results So far Q2 earnings have largely met market expectationsForeign Portfolio Investors FPIs have turned net buyers this month investing Rs 6480 crore in equities so far in October This comes after three consecutive months of net selling by FPIsThe past week was strong for Indian markets The Nifty rose 424 points or 168 per cent to close at 2570985 while the Sensex jumped 145137 points or 176 per cent to settle at 8395219Among sectoral indices Nifty Realty was the top gainer rising 414 per cent Nifty Auto gained 190 per cent Nifty Financial Services 259 per cent Nifty FMCG 300 per cent Nifty Infrastructure 170 per cent and Nifty Consumption 273 per centPerformance across midcap and smallcap segments was mixed during the trading week of October 1317The Nifty Midcap 100 Index gained 20485 points or 035 per cent to close at 5890225 while the Nifty Smallcap 100 Index slipped 1095 points to 1812240Analysts said that the rally was underpinned by strength in consumptiondriven sectors and a broadbased recovery across realty healthcare and bankingInvestor confidence was further buoyed by easing concerns around asset quality in the financial sector and expectations of improved volume growth in the festive quarter market experts said IANS https://dailyworld.in/business/us-tariffs-trade-deal-talks-q2-results-likely-to-drive-market-sentiment-next-week-643881.html Sun, 19 Oct 2025 11:53:00 +0530 https://dailyworld.in/business/govt-extends-gstr-3b-filing-deadline-to-october-25-643885.html New Delhi Oct 19 The government on Sunday extended the deadline for filing the GSTR3B tax return form by five days Now taxpayers can file their returns and make tax payments for the month of September as well as for the JulySeptember quarter by October 25This announcement was made by the Central Board of Indirect Taxes and Customs CBIC through a notification on SundayThe CBIC also posted the update on social media platform X saying cbicindia extends the GSTR3B filing deadlineGSTR3B is a summary return that businesses registered under GST must file either monthly or quarterlyThe usual due dates are the 20th 22nd and 24th of each month depending on the category of the taxpayerThe deadline extension was widely expected this time as the original due date October 20 falls during the Diwali festival when businesses and offices are usually closed or operating with limited staffExperts said that this move is likely to provide relief to many businesses and tax professionals who were finding it difficult to meet the deadline during the festive periodMeanwhile earlier this year GSTN explained that while GSTR3B will still be autofilled based on sales data from forms like GSTR1 any changes or corrections must be made before filing using form GSTR1AThis revised data will then automatically show up in GSTR3B Once that is done taxpayers will no longer be able to edit the GSTR3B manually as is currently possibleFor the July 2025 tax period to be filed in August 2025 the autopopulated tax liability in GSTR3B will be final and cannot be changed after filing the advisory stated on June 7This move is aimed at improving data accuracy between different GST forms and preventing tax leakage IANS https://dailyworld.in/business/govt-extends-gstr-3b-filing-deadline-to-october-25-643885.html Sun, 19 Oct 2025 12:43:00 +0530 https://dailyworld.in/business/foreign-investors-return-to-indian-markets-in-oct-investing-over-rs-6-000-crore-643888.html Mumbai Oct 19 The ongoing market rally has succeeded in attracting foreign investors back to Indian equities this October as Foreign Portfolio Investors FPIs have poured over Rs 6000 crore into the equity market so far this month According to data from the National Securities Depository Limited NSDL FPIs invested Rs 6480 crore in equities till October 17 This comes after three consecutive months of net selling by foreign investorsIn the previous months FPIs had offloaded Rs 23885 crore in September Rs 34993 crore in August and Rs 17741 crore in JulyMarket analysts said The main reason behind this shift in FII strategy is the narrowing valuation gap between India and other marketsIndias relative underperformance over the past year has opened up opportunities for better performance going forward experts addedThe past week was strong for Indian equities with benchmark indices closing at 52week highs The Nifty rose 424 points or 168 per cent to close at 2570985 while the Sensex jumped 145137 points or 176 per cent to settle at 8395219Among sectors Nifty Realty led the gains with a 414 per cent rise followed by Nifty Auto 190 per cent Nifty Financial Services 259 per cent Nifty FMCG 300 per cent Nifty Infra 170 per cent and Nifty Consumption 273 per centMarket analysts said Easing inflation strong domestic macro fundamentals and healthy earnings momentum provide a solid setup for the medium term The upcoming week is packed with key events that could act as major triggers for investorsAnalysts said that the rally was underpinned by strength in consumptiondriven sectors and a broadbased recovery across realty healthcare and bankingInvestor confidence was further buoyed by easing concerns around asset quality in the financial sector and expectations of improved volume growth in the festive quarter market experts said IANS https://dailyworld.in/business/foreign-investors-return-to-indian-markets-in-oct-investing-over-rs-6-000-crore-643888.html Sun, 19 Oct 2025 12:53:00 +0530 https://dailyworld.in/business/after-117-years-calcutta-stock-exchange-nears-exit-from-stock-market-operations-643896.html Mumbai Oct 19 The Calcutta Stock Exchange CSE one of Indias oldest stock exchanges may be celebrating its final Kali Puja and Diwali this year on October 20 as a functioning bourse After a long legal and regulatory battle the exchange is close to completing its voluntary exit from the stock exchange businessCSE founded in 1908 once competed with the Bombay Stock Exchange and was a major part of Kolkatas financial landscapeBut the exchange faced a serious setback after the 2001 Ketan Parekh scam which caused a payment crisis when many brokers failed to meet settlement obligations This shook investor confidence and slowly pushed the exchange into declineIn April 2013 the Securities and Exchange Board of India SEBI suspended trading at CSE due to regulatory issuesSince then the exchange has tried for years to restart operations and challenged SEBIs decisions in court However the board of CSE finally decided to withdraw from the stock exchange businessAccording to CSE Chairman and Public Interest Director Deepankar Bose shareholders approved the exit plan during an Extraordinary General Meeting EGM on April 25 2025The exchange then submitted its formal exit application to SEBI on February 18 this year SEBI has appointed Rajvanshi amp Associate as the valuation agency to carry out the final review before granting approvalOnce SEBI gives the final green signal the Calcutta Stock Exchange will stop functioning as a stock exchangeHowever its wholly owned subsidiary CSE Capital Markets Private Limited CCMPL will continue operations as a broker and remain a member of both the NSE and BSE The parent company will then become a holding companyAs part of its exit process CSE has also received SEBIs nod to sell its threeacre land on EM Bypass to the Srijan Group for Rs 253 crore The sale will be executed once SEBI gives the exit approvalIn preparation for the closure CSE introduced a Voluntary Retirement Scheme VRS for its employees offering a onetime payout of Rs 2095 croreAll employees accepted the offer and a few have been retained on contract for compliance work The move is expected to save the company about Rs 10 crore every yearThe exchange once had 1749 listed companies and 650 registered trading members In its annual report for FY2025 Chairman Bose wrote that CSE has played an important role in Indias capital markets He also disclosed that he received Rs 59 lakh in sitting fees during the financial year IANS https://dailyworld.in/business/after-117-years-calcutta-stock-exchange-nears-exit-from-stock-market-operations-643896.html Sun, 19 Oct 2025 13:52:00 +0530 https://dailyworld.in/business/indias-vehicle-exports-rise-26-pc-to-cross-1685-lakh-units-in-july-september-643898.html New Delhi Oct 19 Indias automobile exports have clocked a robust 26 per cent increase in the JulySeptember quarter to cross 1685 lakh units compared with 1335 lakh units in the same period of the previous year reflecting the greater acceptance of Indiamade cars twowheelers and threewheelers in overseas markets according to figures released by the Society of Indian Automobile Manufacturers SIAM The exports of passenger vehicles comprising cars SUVs and utility vehicles jumped by 23 per cent to 241554 units in the JulySeptember quarter of 202526 up from 196196 units in the same quarter of the previous financial yearCar exports grew 205 per cent to 125513 units during the second quarter compared with the corresponding figure of 104196 units in the same quarter last year while shipments of utility vehicles to overseas markets surged 26 per cent to 113374 unitsVan exports posted a 39 per cent yearonyear growth although numbers were small at 2667 unitsThe countrys largest car maker Maruti Suzuki India topped the list with exports of 205763 units followed by its arch rival Hyundai Motor India in the second spot with 99540 unitsTwowheeler exports registered a healthy rise of 25 per cent to 1295468 units in the JulySeptember quarter up from 1035997 units in the second quarter last year Within this segment motorcycle exports zoomed by 27 per cent to 1108109 units during the quarter while scooter shipments posted a 12 per cent increase to 177957 unitsMoped exports have also begun to gain ground in the overseas market with exports rising more than fourfold to 9402 units in the second quarter as compared with 2028 units in the same period of the previous yearThreewheeler exports surged by as much as 51 per cent during the JulySept quarter to 123480 units compared to the same period of the previous yearTotal commercial vehicle exports clocked a doubledigit growth of 22 per cent to 24011 units compared to the same quarter last yearSociety of Indian Automobile Manufacturers SIAM President Shailesh Chandra noted that the strong export growth in all segments in the JulySeptember quarter indicates the growing brand acceptance of madeinIndia vehicles IANS https://dailyworld.in/business/indias-vehicle-exports-rise-26-pc-to-cross-1685-lakh-units-in-july-september-643898.html Sun, 19 Oct 2025 14:05:00 +0530 https://dailyworld.in/business/indias-retail-inflation-likely-to-ease-further-in-october-report-643902.html New Delhi Oct 19 Indias retail inflation is expected to fall further in October supported by a high base effect easing food prices and the full impact of recent GST reforms a new report has said The data compiled by Union Bank of India suggests that inflationary pressures will only rise gradually in the coming monthsThe bank said its projection for Octobers Consumer Price Index CPI inflation is currently tracking below 050 per centIt also expects food inflation to drop sharply and remain in the negative zone during the winter months as the impact of recent floods has been limitedInflation has already eased to an eightyear low helped by lower food prices and the rationalisation of GST ratesThe report lowered its inflation forecast for FY26 to 26 per cent from the earlier estimate of 31 per centIt added that inflation is likely to stay below the RBIs target range for most of the year and may rise slightly in the fourth quarter due to base effectsIn September CPI which measures the average change in retail prices of goods and services showed a notable decline compared to the previous month highlighting a broad moderation in price growthThe Consumer Food Price Index CFPI stood at 228 per cent indicating that food prices have been falling since June 2025Data also showed that inflation in rural areas was 107 per cent while urban inflation was slightly higher at 204 per centFood inflation remained negative in both segments at 217 per cent in rural areas and 247 per cent in urban regions reflecting the impact of falling prices of vegetables and edible oilsThe government attributed this decline to favourable base effects and lower prices of key food items such as vegetables oils fruits cereals pulses eggs and fuelEconomists believe that if the current trend continues India could maintain a lowinflation environment through the festive and winter seasons supporting consumer demand and overall economic stability IANS https://dailyworld.in/business/indias-retail-inflation-likely-to-ease-further-in-october-report-643902.html Sun, 19 Oct 2025 14:18:00 +0530 https://dailyworld.in/business/nvidia-ceo-jensen-huang-to-attend-apec-ceo-summit-in-s-korea-643904.html Seoul Oct 19 About 1700 global business leaders including Nvidia Corp Chief Executive Officer CEO Jensen Huang will gather in South Korea for a major business forum to be held on the sidelines of the upcoming AsiaPacific Economic Cooperation APEC summit the events organiser said Sunday The Korea Chamber of Commerce and Industry KCCI said it will host the APEC CEO Summit from October 2831 in Gyeongju about 275 kilometers southeast of Seoul bringing together 1700 participants from APEC member economies and global companiesAmong the attendees were Nvidias Huang Amazon Web Services CEO Matt Garman Googles Chief Marketing Officer for Asia Pacific Simon Kahn Citi Group CEO Jane Fraser and Johnson amp Johnson CEO Joaquin DuatoKristalina Georgieva managing director of the International Monetary Fund IMF and Mathias Cormann secretarygeneral of the Organisation for Economic Development and Cooperation OECD were also on the attendance listKCCI Chairman Chey Taewon will preside over the entire event hosting the reception on the first day and delivering a welcoming remark on the second dayThroughout the fourday forum participants will discuss a wide range of global issues including economic challenges geopolitical cooperation digital transformation sovereign artificial intelligence AI strategies digital currencies and future mobilityThe APEC Summit itself is slated for Oct 31 and Nov 1 at the same venue where US President Donald Trump and Chinese President Xi Jinping are expected to hold talks amid heightened trade tensions between the two nationsMeanwhile for more than 30 years the Asia Pacific Economic Cooperation APEC CEO Summit has been the premier business event in the Asia PacificThis year it will be held in Gyeongju South Korea from October 2831 bringing together over 1000 Clevel executives thought leaders and government representatives IANS https://dailyworld.in/business/nvidia-ceo-jensen-huang-to-attend-apec-ceo-summit-in-s-korea-643904.html Sun, 19 Oct 2025 14:33:00 +0530 https://dailyworld.in/business/seven-of-top-10-firms-add-rs-216-lakh-crore-in-market-value-643909.html Mumbai Oct 19 The combined market valuation of seven of Indias top 10 most valued companies rose by Rs 216 lakh crore last week led by strong gains in Bharti Airtel and other heavyweight stocks The rise came in line with a positive trend in the broader market as the BSE Sensex jumped 145137 points or 175 per cent during the weekAmong the top 10 firms HDFC Bank Bharti Airtel ICICI Bank State Bank of India Bajaj Finance and Hindustan Unilever posted gains in their market capitalisationHowever Tata Consultancy Services TCS Infosys and Life Insurance Corporation of India LIC saw a decline in their valuationsBharti Airtel recorded strong gains adding Rs 4125473 crore to reach a valuation of Rs 1147 lakh croreICICI Banks market capitalisation surged by Rs 4012388 crore to Rs 102649135 crore while HDFC Bank added Rs 3318559 crore taking its valuation to Rs 154021078 croreBajaj Finances valuation also rose sharply by Rs 2890345 crore to Rs 66589919 croreHindustan Unilevers market value increased by Rs 1777465 crore to Rs 612 lakh crore and State Bank of India added Rs 793834 crore to reach Rs 821 lakh croreOn the losing side Infosys valuation fell by Rs 3030635 crore to Rs 599 lakh crore while TCS slipped Rs 2380701 crore to Rs 1072 lakh croreLICs market capitalisation also dipped by Rs 768487 crore to Rs 560 lakh croreAmong the countrys most valued companies are HDFC Bank Bharti Airtel TCS ICICI Bank State Bank of India Bajaj Finance Hindustan Unilever Infosys and LICAnalysts said the surge in market valuations reflects renewed investor confidence supported by strong corporate earnings and a bullish sentiment in equities IANS https://dailyworld.in/business/seven-of-top-10-firms-add-rs-216-lakh-crore-in-market-value-643909.html Sun, 19 Oct 2025 15:00:00 +0530 https://dailyworld.in/business/whatsapp-tests-monthly-message-limit-to-reduce-spam-643925.html New Delhi Oct 19 WhatsApp is planning a big change to stop spam and unwanted messages The messaging app is testing a new rule that limits how many messages users and businesses can send to people who are not in their contact list and do not replyThis move is aimed at giving users a quieter and more organized inboxOver the years WhatsApp has grown from a simple chat app into a large platform that includes communities business accounts and customer service channelsBut with this growth the number of unwanted messages and promotions has also increased frustrating many usersAccording to a report by TechCrunch WhatsApp is now testing a monthly limit on messages sent to people who dont respondEach message sent to a noncontact counts toward this limit For example if someone sends three messages to a person who doesnt reply it will use up three of their allowed messages for that monthThe company has not revealed the exact message cap yet saying it is still experimenting with different limitsUsers who come close to reaching the cap will likely receive a warning Once they hit the limit they might be temporarily stopped from messaging new contactsHowever WhatsApp said that regular users who chat with friends and family normally wont be affected by this changeThis new feature is part of WhatsApps broader effort to reduce spam especially in India where the app has more than 500 million usersOver the past year WhatsApp has introduced several antispam tools including restrictions on marketing messages unsubscribe options for business chats and limits on broadcast messagesBusinesses that use WhatsApp to reach customers may now have to focus on building real connections instead of sending mass messagesFor ordinary users this change is expected to bring a cleaner more personal chat experienceWhile it may not completely remove spam WhatsApps new message limit is a strong step toward restoring the apps original purpose helping people connect through private and personal conversations IANS https://dailyworld.in/business/whatsapp-tests-monthly-message-limit-to-reduce-spam-643925.html Sun, 19 Oct 2025 16:43:00 +0530 https://dailyworld.in/business/smaller-cities-propel-online-diwali-shopping-boom-643934.html New Delhi Oct 19 The online Diwali shopping boom this year has been powered by smaller nonmetro cities which account for close to 75 per cent of total ecommerce volumes according to data compiled by an intelligence platform The spending power of smaller cities is further evident from the fact that tier 3 towns contributed over 50 per cent to the surge in consumer expenditure Data analysis of over 425 crore shipments by ClickPost shows that these smaller cities now represent the fastest growth drivers of festive ecommerceThe scale of nonmetro India is staggering Tier 3 cities alone accounted for 507 per cent of all orders in 2025 Combined with Tier 2 248 per cent Bharat represents nearly threequarters 747 per cent of the total order volume confirming its role as the undisputed engine of ecommerce scale according to a ClickPost statementFestive demand was further boosted by Durga Puja which saw fashion orders surge by 143 per cent during the prePuja week and Karwa Chauth when cosmetic buys nearly doubled fashion purchasesDespite the complexity and volume increase Indias logistics networks maintained a steady average delivery time of 283 days for festive shipments The share of sameday hyperlocal deliveries surged 42 per cent yearonyear to reach 87 per cent of all ordersCash on delivery remained the preferred method in Tier 3 cities comprising 52 per cent of orders even as prepaid digital payments dominated highervalue transactions nationwideThe average order value jumped 325 per cent yearoveryear from Rs 3281 in 2024 to Rs 4346 in 2025Were entering a new era of Indian retail one where Tier 3 towns outorder metros where COD still rules the heartland yet prepaid dominates the premium basket where homeupgrades not just outfits power festive spend What that means is investments in speed fulfilment inventory intelligence and localised offers are absolutely foundational The smart players are already preparing for next years curve samedayblueprint in hundreds of towns tailored assortments and delivery models built for both 1 lakh orders and 1 minute gratification ClickPost cofounder and CEO Naman Vijay saidClickPost handles over 50 million monthly shipments for over 450 brands such as Nykaa Puma Caratlane and Walmart across India Southeast Asia MENA and the US IANS https://dailyworld.in/business/smaller-cities-propel-online-diwali-shopping-boom-643934.html Sun, 19 Oct 2025 17:27:00 +0530 https://dailyworld.in/business/ayurveda-offers-natural-ways-to-prevent-osteoporosis-and-strengthen-bones-ayush-ministry-643940.html New Delhi Oct 19 Osteoporosis is a growing public health challenge but it can be effectively managed through the preventive and restorative wisdom of Ayurveda the Ministry of Ayush said on Sunday On the occasion of World Osteoporosis Day 2025 the ministry highlighted the importance of early preventive care balanced nutrition and lifestyle changes to protect bone health and reduce the risk of fractures especially among the elderly and postmenopausal womenOsteoporosis often called a silent disease weakens bones and makes them fragile increasing the chances of fractures in the hip wrist and spineIt usually develops slowly and often remains undetected until a bone breaks causing pain and mobility issuesExperts say that with timely care and a healthy lifestyle the risk of bone loss can be significantly reducedAccording to Ayurveda osteoporosis is linked to an imbalance of the Vata dosha which leads to weakened bones and loss of densityThis understanding aligns with modern science which connects the condition to bone demineralisation and hormonal changes with ageProf Rabinarayan Acharya Director General of the Central Council for Research in Ayurvedic Sciences CCRAS said that Ayurveda provides a natural way to strengthen bones and support healthy ageingThe classical concept of Asthi Saushirya closely matches modern understanding of bone fragility he saidAyurvedas focus on prevention through diet lifestyle and herbal therapies offers a holistic solution for maintaining bone health he addedHe added that CCRAS has been conducting scientific studies to validate Ayurvedic formulations like Laksha Guggulu and Pravala Pishti for managing osteoporosisThese studies aim to build scientific evidence for Ayurvedas role in treating musculoskeletal disordersThe Ministry of Ayush also encouraged people to include yoga and moderate exercise in their routine to improve flexibility and bone strengthOn World Osteoporosis Day the ministry urged citizens to embrace Ayurvedic preventive practices balanced diets and gentle physical activitiesBy integrating these holistic measures into everyday life people can protect their bones prevent fragility and lead a more active and healthy life as they age the ministry said IANS https://dailyworld.in/business/ayurveda-offers-natural-ways-to-prevent-osteoporosis-and-strengthen-bones-ayush-ministry-643940.html Sun, 19 Oct 2025 17:51:00 +0530 https://dailyworld.in/business/air-india-operates-special-flight-from-milan-to-delhi-after-technical-glitch-disrupts-service-643948.html New Delhi Oct 19 Air India on Sunday announced a special flight from Milan to Delhi to help passengers affected by the cancellation of flight AI138 on October 17 The earlier flight was cancelled due to a technical issue with the aircraft leaving over 250 passengers stranded in MilanThe airline said that the special flight AI138D will depart from Milan at 700 pm local time and is scheduled to arrive in Delhi on the morning of October 20Air India will operate an additional flight from Milan to Delhi today to accommodate passengers of flight AI138 which was cancelled on 17 October due to a technical issue the airline saidAir India added that it has extended full support to the affected passengers including hotel accommodation meals and the option for either a full refund or complimentary reschedulingAir India has extended all immediate assistance to affected passengers including hotel accommodation and meals Full refunds or complimentary rescheduling were also offered as per passenger preference it addedThe issue arose on Friday when an Air India Dreamliner Boeing 7878 developed a technical problem at Milan Airport requiring extended maintenance As a result flight AI138 to Delhi had to be cancelledMost of the stranded passengers have now been rebooked on flights scheduled for October 20 coinciding with DiwaliThe airline also responded to social media complaints about limited passenger facilities at Milan AirportAll affected passengers have been provided hotel accommodation however due to limited availability some rooms were arranged outside the immediate vicinity of the airport Air India said in a statementThe airline assured that passenger safety and comfort remain its top priority and thanked travellers for their patience and understanding IANS https://dailyworld.in/business/air-india-operates-special-flight-from-milan-to-delhi-after-technical-glitch-disrupts-service-643948.html Sun, 19 Oct 2025 18:19:00 +0530