Latest News
Refresh- Adani Ports gets a rating upgrade from ICRA
The company's upgrade follows a Bloomberg report that revealed plans to significantly increase investment in its southern India trans-shipment container port to Rs 100 billion. This ambitious move aims to attract some of the world's largest ships, according to sources familiar with the matter.
- Dr Reddy's inks licensing pact with Takeda to sell gastrointestinal drug
New Delhi: Dr Reddy's Laboratories, a Hyderabad-based firm, and Takeda Pharmaceutical entered a non-exclusive licensing pact to market 10mg and 20mg Vonoprazan tablets, a PCAB for reflux esophagitis and acid peptic disorders, in India. CEO MV Ramana highlighted the strategic collaboration. Shares rose 0.33% to Rs 6,665.10 on BSE.
- PNB scam: Gitanjali Group's ex-staffer appears in court, gets interim bail; CBI seeks his custody
A special anti-money laundering court in India granted interim bail to Sunil Varma, a former top executive of Gitanjali Group, accused of the Punjab National Bank scam. Varma, along with diamantaire Mehul Choksi, was accused of being the brain behind the scam and setting up shell companies. The Central Bureau of Investigation (CBI) sought his custody after Varma appeared before the court.
- Household Financial wealth still higher than the pre pandemic levels
A research paper by RBI economists has found that the net financial wealth (NFW) of Indian households is still higher than pre-pandemic levels, at 97% as of March 2023. The total household financial assets are estimated at Rs 363.8 lakh crore, equivalent to 135.0% of the GDP, while the outstanding liabilities amount to ₹101.8 lakh crore, accounting for 37.8% of GDP.
- US Presidential Election 2024: Tough journey ahead for Trump; polls indicate declining popularity levels
Various national surveys which have been conducted indicate that Trump’s popularity levels are decreasing. Biden is ahead of his competitor in one of the major surveys conducted.
- NITI Aayog moots fiscal, financial, regulatory and infrastructure support to boost electronics manufacturing
In its report “Electronics: Powering India’s Participation in Global Value Chains” released on Thursday, the Aayog has proposed promoting components and capital goods manufacturing, incentivising research and development and design, tariff rationalization, skilling initiatives, facilitation of technology transfers, and infrastructure development to help India become part of the global value chain.
- Kangana Ranaut slams Shankaracharya's 'betrayer' remarks on Eknath Shinde: Golgappas or Governance?
In Maharashtra's political stir, Kangana Ranaut defends Eknath Shinde amid Hindu principles controversy sparked by Swami Avimukteshwaranand Saraswati. Shinde's alliance shift from MVA to BJP after coalition collapse draws sharp criticism and debate on political ethics. Ranaut counters, citing historical party splits and constitutional norms in defense of Shinde's decisions. The discourse reflects broader concerns over political integrity, religious teachings, and public accountability in Maharashtra's governance.
- Kate Midleton makes her last public appearance during summer break. Know why?
With minimal public appearances because of her treatment, Kate Middleton is spending her summer vacation concentrating on her family and health. Their relationship has been strengthened by Prince William's support. In August, they will be at Balmoral with King Charles and Queen Camilla.
- LTTS’ net profit down 8% QoQ at Rs 313.6 crore
L&T Technology Services’ revenue declined 3% sequentially to Rs 2,461.9 crore in the Q1. On a year-on-year basis, the revenue was up 7%. Operating margins fell to 15.6% in the just concluded quarter from 16.9% in Q4 of FY24. On a year-on-year basis, margins fell by 160 bps (100 bps is 1%).
- Continuing humanitarian crisis due to Israel-Hamas conflict 'deeply concerning': India at UN
India reiterates its call for de-escalation and peaceful resolution of the Israel-Hamas conflict at the United Nations. India condemns the loss of civilian lives and emphasizes the need for humanitarian assistance and ceasefire. India supports a two-state solution for Israel and Palestine.
- Controversy erupts as Hmar groups seek probe into Assam encounter deaths
Following a deadly encounter in Assam's Cachar district, where three alleged Hmar militants were killed and several police personnel injured, controversy has erupted with Hmar groups demanding a thorough investigation into the deaths. Assam Chief Minister Himanta Biswa Sarma reported the incident involving the militants from Manipur, claiming they were armed and posed a threat. However, the Hmar Students’ Association and Hmar Inpui allege the victims were villagers defending against militants, not armed combatants, criticizing the police's actions as unjust and calling for an impartial inquiry.
- Apple founder Steve Jobs's widow buys $70 million mansion. Know its features, previous owners & more
Setting a record for the city, Apple founder Steve Jobs's widow Laurene Powell Jobs purchased a $70 million mansion in San Francisco. Previously owned by Sloan and Roger Barnett, the Pacific Heights property underwent renovations designed by architect Peter Marino.
- Barcelona eyeing Nico Williams after Real Madrid rope in Mbappe, but there's a catch
It was a massive rejoicing moment for the Real Madrid camp last day as Kylian Mbappe was unveiled in a grand event at the Santiago Bernabeu, in the presence of Zinedine Zidane and Real Madrid President Florentino Perez. However, Barcelona are frantically attempting to counter this by attempting to rope in Spain's Nico Williams, but things are not looking good.
- Paytm Q1 results preview: Revenue may fall by up to 36%, net loss likely to widen
One 97 Communications, operating Paytm, could report a net loss between Rs 1,013 crore and Rs 840 crore and a revenue between Rs 1,532 crore and Rs 1,490 crore for June 2024, according to estimates by two brokerages.
- Here's how India can tackle the new wave of terrorism in Jammu-Kashmir
Pakistan has shifted its proxy war focus from Kashmir to Jammu, intensifying terrorist activities in strategic areas. Despite historical challenges and rugged terrain, recent operations like Operation Sarp Vinash in 2003 have targeted terrorist strongholds. This resurgence poses new security threats in Jammu, prompting India to strengthen counter-terrorism efforts amid heightened tensions.
- Cobra Kai Season 6 Part 1 Review: 'Lowest graded season', 'wait for part 2', read what netizens are saying about the popular Netflix show
Netflix has released Part 1 of 'Cobra Kai' Season 6, with mixed reviews from fans. The final season is divided into three parts, with the first five episodes available now. The show features the return of core cast members and promises an exciting conclusion in 2025.
- What is 'Tesla of euthanasia'? How does a suicide pod work and help in assisted death? Know in detail.
Philip Nitschke invented a portable suicide pod, that can help a patient get peaceful, painless, and assisted death without the requirement of medical supervision. Called Sarco, it has been dubbed as the 'Tesla of euthanasia'.
- Bangladeshi state TV headquarters set ablaze, 'many' trapped inside: Station
Protesters in Dhaka set BTV's headquarters on fire, trapping many. Hundreds stormed the site after clashes in Rampura, torching 60 vehicles and an office building. A Facebook post described the fire as catastrophic. Angry protesters chased police seeking refuge. Bangladesh police cracked down on weekslong student protests for civil service reforms, resulting in at least 22 deaths.
- Suryakumar Yadav to captain India in T20Is against Sri Lanka; Rohit Sharma gets Gill as his deputy in ODIs
India has appointed Suryakumar Yadav as the new T20I captain for the Sri Lanka tour, starting on July 27. The team will feature World Cup champions Rohit Sharma and Virat Kohli in the ODI, with Shubman Gill as Sharma's deputy.
- Delhi HC stays IDBI Bank order to classify former Punj Lloyd chairman Atul Punj’s account as fraud
The Delhi High Court has issued a stay on IDBI Bank's order to classify Atul Punj's account as fraud in relation to loans taken by Punj Lloyd. The court allowed the lender to report to regulatory authorities for further action. The case revolves around differing opinions on fraud classification among banks in the consortium. The court clarified the process for declaring accounts as fraud under RBI guidelines.
- Infosys ADRs jump over 9% after robust Q1 numbers; that of Wipro up 4%
Following a strong Q1 performance and positive momentum in financial services deals in North America, the company has revised its FY25 revenue growth guidance upwards, projecting a 3-4% increase in constant currency, compared to the previous 1-3% estimate. This upward revision reflects increased confidence in the company's outlook for the remainder of the fiscal year.
- Shift in MPC's policy stance can be looked at before 4% inflation, says RBI's state of economy report
The Reserve Bank of India (RBI) may shift its monetary stance from withdrawal of accommodation to neutral before reaching its inflation target, despite persistent food inflation. The report, prepared by deputy governor Michael Debabrata Patra and central bank's economic researchers, suggests that food price shocks over the past year are dominating headline inflation and households' expectations, undermining the gains of lowering core and fuel inflation through monetary policy and supply management.
- Vodafone Idea approves Rs 615 crore of share allotment to Nokia, Ericsson via preferential issue
Vodafone Idea has approved the allotment of 41.52 crore shares worth Rs 615 crore to Nokia and Ericsson at Rs 14.80 per share.
- Cobra Kai season 6 release date on Netflix: When and how to watch all episodes?
"Cobra Kai" season 6 premiers today on Netflix as viewers are eagerly waiting for the season finale.
- Enable online registration of marriages under compulsory registration order: Delhi HC
The Delhi High Court has ordered city authorities to enable online registration of marriages, including those under Muslim and Christian personal laws, in accordance with the Compulsory Registration of Marriage Order, 2014. Justice Sanjeev Narula highlighted the absence of established procedures for such registrations, calling it a "systemic failure." The court's directive came after a petition by a Muslim couple, married in 1995, who faced difficulties due to the lack of registration options. The court emphasized the need for immediate action to ensure smoother administrative processes and compliance with legal requirements.
- HDFC Bank says its loans will grow slower than deposits
HDFC Bank MD Sashidhar Jagdishan stated advances will grow slower post-HDFC merger to lower the 110% credit-deposit ratio. The bank plans 900 new semi-urban branches and saw a drop in attrition despite a social media controversy. RBI’s Das cautioned against aggressive lending. Liquidity buffers and prepaying borrowings are vital steps.
- RBI report says India’s neutral interest rate has risen after pandemic
The Reserve Bank of India (RBI) has revised its estimates of the neutral rate of interest for Q3-2022-22 from 0.8-1.0 per cent to 1.1-1.3 per cent, reflecting GDP data revisions. The current range suggests a wide range between 1.4-1.9 per cent for Q4-2023-24. The natural rate of interest is the real interest rate accounting for inflation and is generally associated with the rate of interest at which an economy runs at optimal capacity without stoking inflation.
- Infosys Q1 earnings; payment cos seek UPI sops
IT major Infosys logged a rise in profits for the first quarter of FY25. This and more on today’s ETtech Top 5.
- US Presidential Election 2024: Who is this four-legged super star at the Republican Party National Convention? Meet Baby Dog
During the ongoing national convention of the Republican Party, there is a super star who is four-legged. Baby Dog is in the news for all the right reasons. She has predicted the result of the upcoming US Presidential Election.
- Nasdaq, S&P open higher as chips, megacaps rebound
The Dow Jones Industrial Average fell 41.52 points, or 0.10%, at the open to 41,156.56.
- Karur Vysya Bank Q1 Results: Net profit jumps 28% YoY to Rs 459 crore
Its net interest margin for the quarter stood at a healthy 4.13%, although down by 6 basis points year-on-year, as rise in cost of deposit outpaced yield on advances. The bank's net interest income rose 14.3% at Rs 1,025 crore. Cost of deposits rose 52 bps in the past 12 months to 5.48% while yield on advances grew to 10.10%, up by 41 bps.
- Immediate Support: Hero FinCorp's Instant Personal Loans Now Available Up to Rs. 5 Lakh
- Karnataka's Jobs for Locals Bill: Will clear confusion in coming days, says CM as BJP urges govt to pass the law in current session
Chief Minister Siddaramaiah has put the jobs bill for local Kannadigas in private companies on hold due to backlash from the tech industry and industry body NASSCOM. The bill, which mandates 50-75% of management and below-level jobs for locals, has been criticized by industry leaders as a "short-sighted" and "fascist" move that could hurt Karnataka's image as an investor-friendly state.
- Smartphone market in India eke out mere 1% growth in Q2: Canalys
Xiaomi led the market with an 18% share and 6.7 million units shipped, reclaiming the top position after six quarters. The global tech market analyst firm said Xiaomi shipped 6.7 million units to regain its pole position after six quarters. Meanwhile, inventory levels ruled high, it added.
- Ukraine attacked Russian base on Crimea: Kyiv source
Ukrainian aerial and maritime drones attacked Russian military targets in Crimea, reportedly damaging a command center and ammo depot near Lake Donuzlav, according to a Kyiv defense source. This is part of Ukraine's intensified drone and missile strikes on the peninsula, annexed by Russia in 2014. Moscow claimed its defenses downed 33 aerial drones and 10 naval drones overnight. Sevastopol governor Mikhail Razvozhayev linked loud noises in the city to Russian army retaliation against a surface drone attack. These incidents are part of Ukraine's increased efforts to target Russian military infrastructure and energy sites.
- NHAI to charge double user fee in case of non-affixation of FASTag on the front windshield
NHAI doubles toll for non-FASTag vehicles, causing delays in toll lanes. SOPs mandate capturing Vehicle Registration Numbers via CCTV. FASTag usage, under Highway Fee Rules 2008, is 98%, covering 8 crore users. Non-compliant vehicles face blacklisting. Issuer banks must fix FASTag at POS. This initiative spans 1,000 toll plazas across 30,000 km of National Highways.
- Union Budget: MSME sector for doubling loan limit under MUDRA to Rs 20 lakh
The Union Budget may double MUDRA Yojana limits, expand MSME credit guarantees, global sales support, and home loan tax exemptions. Ayushman Bharat expansion, ESOP relief, pharma R&D, IPR funding, and lower import duties for durables expected. InsurTech tax reforms, public healthcare, GST structure for food manufacturing, and road safety boosts are anticipated.
- Malaysia to increase cooperation in palm oil and other sectors
India and Malaysia plan to enhance cooperation in oil palm and agriculture sectors. Discussions include the National Mission on Edible Oil, market access issues, institutionalization of agriculture cooperation, and digital technology in plantations.
- Peru: Uncontacted mysterious tribe of Mashco-Piro spotted in Amazon rainforest. Know how their existence is threatened
Indigenous tribes of the Mashco-Piro are nomadic hunter-gatherers in nature and they live in the remote areas of dense Amazon rainforest. They hit the headlines recently when they were spotted on the bank of the Las Piedras River in Peru. Human rights group Survival International has been working to protect their rights and identity.
- India sees 16% decrease in outward remittances under LRS in May 2024
India's liberalised remittance scheme saw a 16% year-on-year decrease in outward remittances, with a total of $2.42 billion remitted in May 2024, down from $2.88 billion a year ago. Remittances from bank deposits abroad, maintenance of close relatives, and gifts to friends and relatives abroad also decreased.
