In this issue

March 23, 2024

Accenture's guidance cut: IT stocks tumble

FY25 outlook muted for the sector, say analysts

3 mins

Four years after lockdown, frontline workers reflect on pandemic days

In April, Mumbai is typically hot and getting increasingly humid. Manjusha Patil (name changed on request) was making her way back from Covid-19 hospital duty to her apartment in the eastern suburbs of Mumbai.

4 mins

Only 8 Sensex firms disclosed political donations in 5 years

Only eight of 30 companies that are part of the BSE Sensex index have disclosed their purchases of electoral bonds or other financial contributions to political parties in their annual reports at least once in the past five financial years.

2 mins

Summer sowing may ease inflation: FinMin

Says CAD needs to be watched in FY25

2 mins

PhonePe's Indus Appstore thrives amid Google billing row

Amid an ongoing tussle between Google and Indian app developers, fintech major PhonePe's Indus Appstore seems to have benefited.

3 mins

SpiceJet cleared all dues, Credit Suisse tells SC

Swiss financial services firm Credit Suisse on Friday told the Supreme Court that SpiceJet has cleared all its outstanding dues in the $24 million payment dispute.

1 min

India may glide to third spot in airline seat count

OAG data places India just behind the US and China in Q2 of 2024

1 min

India has a chance to lead the world in the AI race

One idea that stands out prominently in the contemporary narrative of India as it aims to be a developed nation by 2047 is the opportunity artificial intelligence (AI) offers.

1 min

DGCA imposes ₹80L fine on Air India

The Directorate General of Civil Aviation (DGCA) on Friday imposed a fine of 80 lakh on Air India for violating rules regarding flight duty time limitation (FDTL), which aims to ensure sufficient rest for pilots.

1 min

Bajaj commits ₹5,000 cr for social impact in 5 yrs

The Bajaj group on Friday committed 5,000 crore to social impact initiatives over five years with a sharp focus on skill development under 'Bajaj Beyond'the group's new identity for all its corporate social responsibility (CSR) and charitable programmes.

2 mins

71 Indian companies feature on FT's Asia-Pacific top 500 high-growth list

Topping the list were Zypp Electric and BigHaat

1 min

India is the next big playground for AI, says Samsung's Han

Hailing India as the next big playground for artificial intelligence (AI), Samsung said that it plans to bring AI and hyper-connectivity via its latest innovations to Indian consumers in a bid to improve their experience.

1 min

Green energy firms get SC nod to use area around GIB habitat

Solar and wind power companies planning projects in the habitation of endangered Great Indian Bustard (GIB) in Rajasthan and Gujarat got some relaxation on Thursday when the Supreme Court opened up more space for them.

2 mins

RBI conducts three VRRs to ease liquidity

The Reserve Bank of India (RBI) conducted three variable rate repo (VRR) auctions on Friday to ease the liquidity tightness in the banking system.

1 min

Forex reserves, rupee sit on opposite poles

₹ settled at fresh low of 83.43/$, forex kitty swelled to record high of $642.49 bn

3 mins

Global trade may rebound in '24, but risks remain: Report

The international trade is expected to rebound in 2024, reversing the last year's downturn, amid lingering geopolitical uncertainties, the United Nations Conference on Trade and Development (Unctad) said the report said.

1 min

CHILD MORTALITY RATE IMPROVES AT FASTER CLIP

INDIA DID BETTER THAN SOUTH AFRICA AND BRAZIL

1 min

41 FIRMS FACING PROBE BY CENTRAL AGENCIES IN BOND LIST

Forty-one companies facing probe by the CBI, ED and the I-T Department gave ₹2,471 crore to the BJP through electoral bonds, and ₹1,698 crore of it was donated after raids by these agencies, civil society activists who challenged the poll funding scheme in the Supreme Court claimed on Friday.

1 min

Mapping the changing dynamics of donations

TThe political preferences of the biggest electoral bond donors show subtle shifts over the years.

2 mins

BJP gets lion's share from listed cos

The Bharatiya Janata Party (BJP) may have got the lion's share of electoral donations from listed companies, ahead of the general elections this year.

1 min

Jalan group bonds well with political parties

A bulk of the political donations made by West Bengal's top contributor, the Mahendra Kumar Jalan group, went to the BJP, according to data published by the Election Commission (EC).

3 mins

Small, unrecognised parties reap benefits

Smaller and unrecognised parties have also been the beneficiaries of electoral bonds by donors.

1 min

Metal, mining giants bet big on Odisha

Two of India's large metal mining conglomerates, Aditya Birla Group and Vedanta, directed a significant portion of donations given through electoral bonds to Odisha, a mineral rich state which houses their multi-crore projects.

1 min

China probes PwC role in Evergrande fraud

Chinese authorities are examining the role of PricewaterhouseCoopers LLP in China Evergrande Group's accounting practices after the developer was accused of a $78 billion fraud, ramping up pressure on the global accounting giant that audited a slew of developers before the sector's meltdown.

1 min

Ukraine sees power outages after largest missile barrage of year

Several Ukrainian regions suffered power outages after the largest Russian missile and drone strike on the country's energy infrastructure so far this year, prompting President Volodymyr Zelenskyy to again urge foreign allies to accelerate military aid.

1 min

Russia, China veto US's Gaza ceasefire resolution at UNSC

Russia and China on Friday vetoed a US-sponsored UN resolution calling for \"an immediate and sustained cease-fire\" in the Israel-Hamas war in Gaza to protect civilians and enable humanitarian aid to be delivered to more than 2 million hungry Palestinians.

1 min

The trustbuster who has Apple and Google in his sights

Shortly after Jonathan Kanter (pictured) took over the Justice Department's antitrust division in November 2021, the agency secured an additional $50 million to investigate monopolies, bust criminal cartels and block mergers.

2 mins

Powell's words are mightier than the Fed's dot plot

The Federal Reserve's dot plot was supposed to be the main event at Wednesday's central bank data dump, and true to expectations — it revealed an upward drift in policymakers' interest rate expectations over the medium and longer-term.

3 mins

The idea of Kejriwal

The 'idea' Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason the Modi govt has now tarred him and his entire party with the same paint

5 mins

How loyal are you?

In the ongoing tussle over electoral bonds and election funding, there has been an inexplicable rush among many institutions and powerful stakeholders to dissemble and distract.

3 mins

Political funding's troubling sinkhole

In 1798, Lord Cornwallis was appointed Lord Lieutenant of Ireland.

3 mins

'Greatness' need not mean fame & size

Since the industrial revolution, size, and more recently, market capitalisation, has become markers of corporate greatness.

3 mins

Smallcap rout dents equity volumes amid mega block deals

Equity trading volumes in India have fallen to the lowest level since December as the selloff in shares of smaller companies slows the rush of retail investors into the TRADING nation's $4.3 trillion market, even as institutions snap up large deals.

1 min

MFs impose fresh curbs on smallcap funds

Franklin Templeton MF latest to restrict inflows; Nippon MF, Motilal Oswal MF tighten exit-load norms

2 mins

Why the fall in mid, this year is not similar to 2018

Midcap and smallcap stocks have taken it on their chin in the past few weeks with the two indices slipping 3.3 per cent and 6.5 per cent on the NSE, respectively.

2 mins

MSCI EM ex-China assets top $11 bn as pessimism grows

India stands to benefit the most from the increasing flows into the index excluding China

2 mins

Kejriwal sent to ED custody till Mar 28

The central agency described him as 'the kingpin and key conspirator' in the alleged liquor scam case

2 mins

Will Arvind Kejriwal's arrest be AAP's Waterloo moment?

In April 2011, Anna Hazare, a 73-year-old Gandhian, launched a 'fast unto death' protest against corruption at Delhi's Jantar Mantar.

2 mins

Delhi reels from policy hangover

Tax revenues of the Delhi government were dented after it abandoned the new excise policy on liquor in August 2022, so much so that recovery is not even projected in 2024-25.

1 min

Hemendra Kothari's DSP set to enter NBFC space

Veteran investment banker Hemendra Kothari's DSP group is set to enter the non-banking finance sector with a focus on capital markets, sources aware of the development said.

2 mins

GHOST WHO ACTS

It may soon be possible to have digital replicas of Madhubala and Dilip Kumar star in a 2025 movie.

3 mins

India-EFTA investment chapter: A new beginning

On March 10, 2024, 16 years, and 21 formal rounds of negotiations later, India and the European Free Trade Association (EFTA) member states signed the India-EFTA Trade and Economic Partnership Agreement (TEPA).

4 mins

On Holi, temperatures may surpass 40°C as climate change hits hard

15 cities with the highest risk of a day in late March being above 40°C occur in the centre of the country

2 mins

Player insurance premiums up 25% this IPL

As the Indian Premier League (IPL) becomes bolder and better each season, the insurance cover also becomes bigger for players of the planet's richest cricket tournament.

2 mins

Airtel, Vi roll out special plans

Bharti Airtel and Vodafone Idea (Vi) have announced a host of discounts, tariff changes, and additional data offerings for prepaid users for the Indian Premier League 2024 season, which began on Friday.

1 min

No country fully prepared for future pandemics: ADB report

On March 24, four years ago, India imposed one of the strictest lockdowns to contain the spread of the Covid-19 virus.

1 min

No pool parties, water balloons on Holi, B'luru turns cautious amid water crisis

No pool parties please and no throwing of water and water balloons this Holi if you are a resident of Bengaluru.

2 mins

'India has the largest slate of local original content outside US'

Earlier this week, Amazon Prime Video showcased its upcoming India slate. Its popular shows such as Mirzapur, Paatal Lok and Panchayat will see their new seasons. There are a bunch of new shows, several in Tamil and Telugu, that will join the party. In all 69 shows, films and licensed programmes will be premiering on the service in the next two years. Prime Video, part of the $575-billion online retail giant Amazon, has an estimated 230 million members globally.Vanita Kohli-Khandekar spoke to KELLY DAY, vice president, international, Amazon Prime Video, in Mumbai on the new offerings and more. Edited excerpts:

2 mins

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