Financial Express Chennai - May 10, 2025
Financial Express Chennai - May 10, 2025
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In this issue
May 10, 2025
Europe, Japan, China, South Korea gain at the expense of US, UK, Australia and Canada
THE RESTRICTIVE VISA policies introduced by the \"big four\" study-abroad destinations — the US, the UK, Canada and Australia — over the past 18 months have resulted in these countries ceding ground to \"non-traditional\" destinations, with more and more students from India and other countries looking deeper into Europe and Asia.
1 min
Forex reserves drop $2 billion, snap 8-week streak of gains
INDIA'S FOREIGN EXCHANGE reserves declined by $2.07 billion, to $686.06 billion as of May 2, snapping an eight-week gaining streak that had lifted reserves to a near six-month high, data released by the central bank on Friday showed.
1 min
MCA's New Accounting Standard for Foreign Currency Transactions
The Ministry of Corporate Affairs (MCA) has notified the Companies (Indian Accounting Standards) Amendment Rules, 2025, introducing key changes to Ind AS 21—a standard that mandates companies to estimate the spot exchange rate when \"exchangeability\" between two currencies is absent.
1 min
'Big four' study-abroad destinations losing ground
THE RESTRICTIVE VISA policies introduced by the \"big four\" study-abroad destinations — the US, the UK, Canada and Australia — over the past 18 months have resulted in these countries ceding ground to \"non-traditional\" destinations, with more and more students from India and other countries looking deeper into Europe and Asia.
2 mins
Anti-dumping duty imposed on Chinese, Vietnamese solar glass
INDIA HAS IMPOSED anti-dumping duty on imports of textured tempered glass — a key component in solar panels — from China and Vietnam.
1 min
Govt reviewing US demand for less curbs on GM crop imports
INDIA IS ANALYSING a US request to ease restrictions around the purchase of genetically modified crops as part of ongoing trade negotiations between the two countries, people aware of the matter said.
1 min
India, New Zealand wrap up first round of FTA talks
WORKING AGAINST a tight deadline, India and New Zealand on Friday concluded the first round of negotiations on a bilateral free trade agreement (FTA).
2 mins
PSBs' FY25 profit hits a high of ₹1.78L cr
PUBLIC SECTOR BANKS' cumulative profit rose to a record level of ₹1.78 lakh crore in FY25, registering a growth of 26% over the previous year.
1 min
Odisha eyes ₹1.2L-crore petchem projects
ODISHA is expecting a ₹1.2 lakh crore ($14.1 billion) investment over the next 10 years to build a petrochemical hub near the Bay of Bengal, according to a senior government official.
1 min
IRB Infra posts 10% rise in toll revenue in Apr
IRB INFRASTRUCTURE HAS posted a 10% rise in its toll revenue to ₹554 crore in April compared to ₹503 crore in the same month last year.
1 min
Tata Motors' JLR Set to Gain From US-UK Pact
Trade Boost
1 min
Swiggy losses nearly double
FOOD AND GROCERY delivery platform Swiggy on Friday reported a sharp 94.8% year-on-year increase in its net loss to ₹1,081.18 crore for the January-March quarter, significantly exceeding Bloomberg's estimate of ₹778 crore.
2 mins
No major impact of UK FTA: Mercedes MD
INDIA'S FREE TRADE agreement (FTA) with Britain won't cause any dramatic change to the luxury car industry as most of such vehicles are partially manufactured here anyway, said the head of India's largest luxury carmaker Mercedes Benz.
1 min
SAS to expand R&D in India
Strategic Move
2 mins
Vanguard slashes Ola's valuation to $1.25 billion
US-BASED ASSET management company Vanguard has marked down Ola's valuation to $1.25 billion, according to an SEC filing.
1 min
Blasts in J&K, parts of Punjab
IN PATHANKOT, FEROZEPUR, locals claimed that they heard sound of explosions while similar reports also came in from Gurdaspur and Tarn Taran's Patti area although there was no official confirmation about what caused the sound.
1 min
Mittal in talks to buy $2-bn stake in Haier's India unit
BHARTI ENTERPRISES CHAIRMAN Sunil Mittal is in advanced talks to acquire a 49% stake in the Indian unit of China's Haier Smart Home, according to people familiar with the matter, as the billionaire looks to tap growing demand for goods such as home appliances in the country.
1 min
Sonata Software hit by client delays
IT SERVICES FIRM Sonata Software has said decision-making delays by clients and paused opportunities have impacted revenue conversion in the fourth quarter despite the overall pipeline remaining healthy.
1 min
Pidilite draws expansion plan for paints biz
MD says bolt-on acquisitions will continue
2 mins
ReNew eyes US market for solar modules
ReNew Energy is betting big on export of solar modules, with the expectation of major gains in the US market, as competitors from Southeast Asian nations face additional tariff barriers.
1 min
India-Pakistan flare-ups drag benchmark indices down 1%
BENCHMARK INDICES EXTENDED their losing streak for the second consecutive session on Friday, as geopolitical tensions between India and Pakistan escalated further.
1 min
BoI Q4 net up 82% to ₹2,626 cr
TREASURY GAINS AND recoveries from written-off accounts in the January-March period helped state-owned Bank of India to report an 82% jump in its Q4 net profit at ₹2,626 crore on Friday.
1 min
Rupee rises 22 paise to 85.36 against US dollar
THE RUPEE PARED its initial losses and settled for the day higher by 22 paise at 85.36 against the US dollar on Friday, as likely intervention by the Reserve Bank of India helped contain excess depreciation of the rupee.
1 min
Low-cost deposit pressure may ease by Q3
Canara Bank is fine-tuning its gold loan portfolio in line with regulatory guidance, based on ongoing discussions, said MD and CEO K. Satyanarayana Raju in a conversation with Narayanan V.
3 mins
Sebi committee seeks to ease gross F&O index exposure limit
Big Relief
1 min
SIP Contributions Hit Record High of ₹26,632 Crore in April
Overall equity inflows dropped to a 12-month low
2 mins
The Trump effect in global polls
VEN BEFORE HE took office for the second term, Donald Trump openly and frequently mused about annexing Greenland, a Danish-controlled self-governing protectorate.
4 mins
The Great Productivity Boom Is Taking a Break
THE GREAT PRODUCTIVITY boom of the 2020s isn't over, but it's having an interlude.
3 mins
Non-military options
India is rightly deploying other measures also to make Pakistan pay for its cross-border transgressions
2 mins
Lost cities & whispers of the Indus
THE AREA AROUND Dholavira in Gujarat is so pristine that when we decided to explore the ruins of this ancient city, the aim was to leave a minimum carbon footprint, and that could only have been achieved with an electric car.
2 mins
Kia will enter CNG space by end-2025
THE CARENS CNG TO BE LAUNCHED LATER THIS YEAR
2 mins
Buy student travel insurance from India
PREMIUMS ARE 1.5 TIMES LESS IN THE COUNTRY
3 mins
Chinese Exporters Get Goods Moving, Again
CHINA-BASED SHIPPING agents have resumed buying container space for goods headed for America after a series of US tariff-induced cancellations, as Beijing and Washington head for trade talks in Switzerland.
1 min
New Pope Wants Church To Be A Beacon Of Light
POPE LEO XIV celebrated his first Mass on Friday in the Sistine Chapel where he was elected less than 24 hours earlier, warning of the dangers caused by a lack of faith and hoping the Catholic Church could be a beacon lighting the world's \"dark nights.\"
2 mins
Nvidia Modifies H20 Chip for China
NVIDIA PLANS TO release a downgraded version of its H20 artificial intelligence chip for China in the next two months, following U.S. export restrictions on the original model, three sources familiar with the matter told Reuters.
1 min
Alphabet Shares Take $115 Billion Blow as Search Warnings Blare
For more than a year, Alphabet shareholders have fretted over long-term risks posed by artificial intelligence to the company's money-printing search business.
2 mins
Trump says 80% China tariff 'seems right', ahead of talks
US PRESIDENT DONALD Trump floated an 80% tariff on China ahead of negotiations due to begin Saturday as he urged Beijing to do more to open their markets to US goods.
1 min
Panasonic to lay off 10,000 employees
PANASONIC HOLDINGS IS slashing headcount by 10,000, or more than 4%, part of a push to cull non-growth operations and boost profitability.
1 min
India Offers to Cut Tariff Gap to Seal US Trade Deal
IT LOWERS AVERAGE British tariffs on US goods but keeps in place the 10% base tariff imposed by Washington on British goods, likely setting a template for Washington's approach with other trading partners.
1 min
Monthly warehousing rent grows 2-5% in Jan-March
THE AVERAGE MONTHLY rent for warehousing spaces rose 2-5% annually in the January-March period across eight major cities on better demand, according to Knight Frank.
1 min
Hiring in IT sector up 16% in April: foundit
HIRING IN THE IT sector grew 16% year-on-year in April, driven by factors such as AI adoption, cloud modernization, and the continued expansion of Global Capability Centers (GCCs), a report said on Friday.
1 min
Govt warns traders of hoarding food items
AMID ESCALATING TENSIONS between New Delhi and Islamabad, the Indian military establishment has actively begun large-scale mobilisation of additional forces to the border, including its reserve Territorial Army, to ensure full strength in the event of a contingency.
1 min
Justice from bottom of the pyramid
JUSTICE GAVAI BRINGS A SEASONED PRACTICALITY TO THE JOB. HE ACTIVELY SEEKS PEACEFUL RESOLUTIONS OF CIVIL AND MATRIMONIAL DISPUTES
3 mins
India Opposes Bailout for Pak at IMF
INDIA ON FRIDAY opposed International Monetary Fund's (IMF) fresh lending programme for Pakistan saying that there is a possibility that these funds may be used for sponsoring cross-border terrorism.
1 min
Financial Express Chennai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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