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Last updated on 29 Aug,2024 04:45 PM
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Refresh- Cabinet approves 12 industrial smart cities with an outlay of Rs 28,602 crThe Union Cabinet has approved 12 new industrial smart cities across various states, with a budget of Rs 28,602 crore to enhance domestic manufacturing. These cities aim to create jobs, attract investments, and support India's role in global value chains by offering robust infrastructure and ready-to-allot land for investors.
- SBI Chairman Dinesh Kumar Khara retires after giving multibagger returns, Rs 1 lakh crore dreamSBI Chairman Dinesh Kumar Khara retires, leaving behind a goal of Rs 1 trillion annual profit for his successor. During his tenure, SBI's profit rose significantly, deposits grew, and non-performing assets decreased. Khara, who took over during the Covid crisis, leaves a legacy of remarkable financial growth and stock performance.
- How Canadian dream has turned into a gamble for Indian studentsCanada's pathway to permanent residency for international students and temporary foreign workers, especially from Punjab, is facing disruptions due to unemployment and economic issues. Protests have erupted as the government caps foreign worker numbers, affecting students and workers seeking permanent residency.
- AI will, in due course, destroy jobs, but it will also create new onesIndia needs to embark on a massive training programme to develop the brainpower needed for an AI revolution. The US will need an additional 1 mn workers in STEM in 2030 than it did in 2020. Hence, corporations are lobbying hard for more skilled migrants from India
- To address performance issues, Tata Motors to buy EV batteries from Chinese co: ReportTata Motors will source battery packs for its electric vehicles from China’s Octillion Power Systems. The Indian automaker already offers several EV models and plans to introduce more. Despite a dip in EV sales, Tata Motors controls 68% of the market. Recently, the company joined the top ten most valued global automotive firms.
- Even expecting justice a crime under BJP govt: Rahul Gandhi after girls' bodies found hanging from tree in UPRahul Gandhi criticised the Uttar Pradesh government after two Dalit teenage girls were found hanging from a tree in Fatehgarh. He questioned the administration's priorities, pointing out that expecting justice under the BJP was a crime. The incident drew condemnation from other political leaders, who demanded an impartial investigation into the matter.
- SBI MD Ashwini Tewari hopes market correction over time will get funds back to banking systemSBI Managing Director Ashwini Tewari noted that a correction in the equity markets could help banks regain deposits. The bank is focusing on small-ticket PMJDY accounts to drive deposit growth amidst a shift of funds to higher-yielding options. Tewari indicated a possible rise in deposit rates if needed by market demands.
- Rahul accuses govt of 'tax terrorism', burdening middle class at cost of corporate 'friends'Rahul Gandhi, Leader of Opposition in the Lok Sabha, has accused the Centre of engaging in 'tax terrorism', claiming that the burden of taxation is falling disproportionately on the middle class while corporate taxes remain lower. He alleges that Prime Minister Modi is prioritizing the wealth of his corporate friends over the middle class.
- Disney-Reliance's $8.5 bn merger gets CCI approval; here's a look at breakdown of assetsWalt Disney Co and Reliance Industries have received approval from the Competition Commission of India for an $8.5 billion merger of their Indian media assets. This deal will create India's largest entertainment company, combining a wide range of television channels and streaming services, including extensive sports rights and diverse content libraries.
- Once a darling, China turns 'radioactive' for big foreign moneyForeign investment in China is rapidly declining. High geopolitical tensions and regulatory unpredictability have led investors to reconsider their positions. Many EU and Japanese firms show caution. India sees an opportunity to attract these wary investors.
- Seven reasons why you should never retireThe opportunity to get out of the house and engage in another economic activity enables learning and staying updated. Research shows that the seniors who continue to work after retirement are more technologically savvy, can travel independently, protect themselves from scams and frauds, and remain resourceful about how to get things done.
- Sebi issues warning against SME stocks as IPOs leave investors dumbfoundedSebi highlighted that certain corporate actions can artificially boost investor sentiment, leading to increased stock purchases. This, in turn, allows promoters to sell their shares at inflated prices. The regulator cautioned investors against relying on unverified social media posts and rumours when investing in SME stocks. Instead, investors should exercise caution and be mindful of such market manipulation patterns.
- Southern states look to outfox each other in hunt for a Foxconn ‘city’Taiwanese electronics manufacturer Foxconn is being offered 2,000 acres of land in Telangana to build a 'Foxconn city' modelled on its facilities in its home country as well as in China, a top lawmaker told ET. Telangana has offered as-yet unidentified location to Foxconn, but other states are also aggressively courting the company.
- Congress' Abhishek Manu Singhvi elected to Rajya Sabha from TelanganaThe senior lawyer had said it is an honour for him to have been nominated as the party candidate for the Rajya Sabha bypoll in Telangana. The Rajya Sabha bypoll was necessitated due to the resignation of K Keshava Rao from the Upper House when he quit the Bharat Rashtra Samithi (BRS) to join the Congress.
- The Veep leap: Can Kamala Harris break the Vice President to President transition curse?Vice President Kamala Harris begins her fall campaign, facing historical challenges that have hindered many before her. Only George H.W. Bush succeeded in winning the presidency as vice president. Harris's campaign hinges on her relationship with President Biden, public perception, and overcoming past struggles faced by former vice-presidential candidates.
- SME IPO shocker: Two-showroom bike dealer Resourceful Automobile got 400x subscription but lists flatShares of Resourceful Automobile listed flat on the BSE SME platform at Rs 117, despite strong subscription and a GMP of 89% above the offer price. The company, which operates two Yamaha showrooms, plans to use the IPO proceeds for expansion, debt repayment, and general corporate purposes.
- 12 new Industrial Smart Cities, aim to create 1 million direct jobs and 3 million indirect jobs: Piyush GoyalIndia is set to develop 12 new Industrial Smart Cities under the National Industrial Corridor Development Programme with an investment of Rs 28,602 cr. The initiative aims to create up to 1 million direct jobs and 3 million indirect jobs, promoting balanced regional development and advanced infrastructure across multiple states.
- US Fed expresses concerns over linking global payment systems with domestic for fast paymentsInterlinking fast payment systems is widely seen as a means to enhance global cross-border payments and reduce costs, but Christopher Waller said that it could pose an increased risk management burden for banks participating in it.
- 'Diffidence, opacity': Manish Tewari slams govt for not discussing China border standoff in ParliamentSenior Congress leader Manish Tewari criticized the Modi government for not discussing the border standoff with China in Parliament. He emphasized the necessity of deliberating on India's relationship with China and the country's larger role in global conflicts like Russia-Ukraine. He also called for parliamentary scrutiny of key ministries.
- Cabinet Briefing Highlights: 12 industrial smart cities to new railway corridors, here are the key decisionsThe Union Cabinet led by PM Modi has approved the development of 12 Industrial Smart Cities under the National Industrial Corridor Development Programme. The cabinet also allowed expansion of the Agricultural Infrastructure Fund, announced three new railway projects, and granted equity support for hydropower development in northeastern states, aimed at boosting infrastructure and employment opportunities.
- Seven reasons why you should never retireThe opportunity to get out of the house and engage in another economic activity enables learning and staying updated. Research shows that the seniors who continue to work after retirement are more technologically savvy, can travel independently, protect themselves from scams and frauds, and remain resourceful about how to get things done.
- Cabinet approves 12 industrial smart cities with an outlay of Rs 28,602 crThe Union Cabinet has approved 12 new industrial smart cities across various states, with a budget of Rs 28,602 crore to enhance domestic manufacturing. These cities aim to create jobs, attract investments, and support India's role in global value chains by offering robust infrastructure and ready-to-allot land for investors.
- You can get a discount on your new car, but Gadkari has one conditionUnion Minister of Road Transport and Highways, Nitin Gadkari on Tuesday announced that commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit.
- Indian solar panels face US scrutiny for possible links to China forced labourWhile CBP does not specify what types of electronic equipment it has detained, polysilicon, a raw material in solar panels, is identified as a high-priority sector in the Uyghur Forced Labor Prevention Act (UFLPA), and solar panels have historically made up most of the stopped shipments in that category, according to industry sources.
- Once a darling, China turns 'radioactive' for big foreign moneyForeign investment in China is rapidly declining. High geopolitical tensions and regulatory unpredictability have led investors to reconsider their positions. Many EU and Japanese firms show caution. India sees an opportunity to attract these wary investors.
- AI will, in due course, destroy jobs, but it will also create new onesIndia needs to embark on a massive training programme to develop the brainpower needed for an AI revolution. The US will need an additional 1 mn workers in STEM in 2030 than it did in 2020. Hence, corporations are lobbying hard for more skilled migrants from India
- SBI Chairman Dinesh Kumar Khara retires after giving multibagger returns, Rs 1 lakh crore dreamSBI Chairman Dinesh Kumar Khara retires, leaving behind a goal of Rs 1 trillion annual profit for his successor. During his tenure, SBI's profit rose significantly, deposits grew, and non-performing assets decreased. Khara, who took over during the Covid crisis, leaves a legacy of remarkable financial growth and stock performance.
- How Canadian dream has turned into a gamble for Indian studentsCanada's pathway to permanent residency for international students and temporary foreign workers, especially from Punjab, is facing disruptions due to unemployment and economic issues. Protests have erupted as the government caps foreign worker numbers, affecting students and workers seeking permanent residency.
- Hindenburg Research discloses short position in server maker Super Micro; shares fall 5%Hindenburg Research announced a short position in Super Micro Computer, alleging accounting manipulation. The server maker's shares dropped approximately 5% in early trading. Closely linked with Nvidia, Super Micro has benefited from the AI boom. Hindenburg's report also claims other issues like undisclosed related party transactions and export control failures.
- Rahul accuses govt of 'tax terrorism', burdening middle class at cost of corporate 'friends'Rahul Gandhi, Leader of Opposition in the Lok Sabha, has accused the Centre of engaging in 'tax terrorism', claiming that the burden of taxation is falling disproportionately on the middle class while corporate taxes remain lower. He alleges that Prime Minister Modi is prioritizing the wealth of his corporate friends over the middle class.
- 'Y Chromosomes Are Shrinking': New study suggests a 'sex gene war', similar to what happened with spiny ratsResearchers confirmed that the Y chromosome, crucial for male sex determination, is progressively shrinking and might disappear within millions of years. This could result in only females being born or the evolution of new sex-determining genes, potentially leading to the formation of different human species in various regions.
- Five Indian power companies face over $1 billion payment outage risk in BangladeshBangladesh owes over $1 billion to five Indian power companies, with Adani Power leading the list at $800 million for its Jharkhand-based plant. SEIL Energy India is owed about $150 million, while NTPC is due nearly $80 million. The payments are overdue amidst political turmoil in Bangladesh, which recently led to the Prime Minister fleeing to India.
- Kangana Ranaut buys office property in Mumbai’s Andheri westBollywood actress Kangana Ranaut has bought an office property in Mumbai’s Andheri for over Rs 1.56 crore. The purchase involves a 407 sq ft space in a commercial project. Other Bollywood figures like Amitabh Bachchan and Shah Rukh Khan have also made significant real estate investments.
- To address performance issues, Tata Motors to buy EV batteries from Chinese co: ReportTata Motors will source battery packs for its electric vehicles from China’s Octillion Power Systems. The Indian automaker already offers several EV models and plans to introduce more. Despite a dip in EV sales, Tata Motors controls 68% of the market. Recently, the company joined the top ten most valued global automotive firms.
- Apple plants may yield 600,000 jobs in India by MarchApple's Indian workforce will comprise 200,000 direct jobs being created by March-end with women making up a dominant 70%, according to estimates and data submitted by the company as well as its suppliers to the government.
- Even expecting justice a crime under BJP govt: Rahul Gandhi after girls' bodies found hanging from tree in UPRahul Gandhi criticised the Uttar Pradesh government after two Dalit teenage girls were found hanging from a tree in Fatehgarh. He questioned the administration's priorities, pointing out that expecting justice under the BJP was a crime. The incident drew condemnation from other political leaders, who demanded an impartial investigation into the matter.
- SBI MD Ashwini Tewari hopes market correction over time will get funds back to banking systemSBI Managing Director Ashwini Tewari noted that a correction in the equity markets could help banks regain deposits. The bank is focusing on small-ticket PMJDY accounts to drive deposit growth amidst a shift of funds to higher-yielding options. Tewari indicated a possible rise in deposit rates if needed by market demands.
- Disney-Reliance's $8.5 bn merger gets CCI approval; here's a look at breakdown of assetsWalt Disney Co and Reliance Industries have received approval from the Competition Commission of India for an $8.5 billion merger of their Indian media assets. This deal will create India's largest entertainment company, combining a wide range of television channels and streaming services, including extensive sports rights and diverse content libraries.
- I will take sides, won't let 'Miya' Muslims take over Assam: CM Himanta Biswa SarmaIn a heated assembly debate, Assam Chief Minister Himanta Biswa Sarma asserted he would take sides to prevent 'Miya' Muslims from dominating the state. The session was prompted by multiple opposition motions addressing rising crime rates, including a high-profile rape case. The exchanges led to a brief adjournment of the proceedings.
- Kavitha K granted bail by SC in Delhi Excise Policy CaseK Kavitha Bail News: The Supreme Court granted bail to BRS leader K Kavitha, who was arrested in connection with the Delhi liquor policy case. Kavitha's bail had previously been denied by the Delhi High Court. Central agencies accused her of tampering with evidence, but her counsel dismissed these claims. The investigations by CBI and ED have concluded.
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