Financial Express Mumbai - March 20, 2025

In this issue

March 20, 2025

Democratic processes lose meaning if citizens aren't well-informed: Prez

EMPHASISING THAT THE importance of free and fair journalism for democracy cannot be overestimated, President Droupadi Murmu on Wednesday said \"if citizens are not well-informed, democratic processes lose their very meaning\".

3 mins

Steel imports to face 12% safeguard duty

• Move to protect local industry from trade diversions

2 mins

₹10,601-cr urea plant in Assam

TO BOOST UREA production in the eastern and northeastern region and reduce imports of the key crop nutrient, the Union Cabinet on Wednesday approved the establishment of a brownfield ammoniaurea complex at Brahmaputra Valley Fertiliser Corporation (BVFCL) in Namrup, Assam.

1 min

India for staggered free trade pacts for faster outcomes

Businesses lose interest when FTA talks drag on: Official

2 mins

India to Grow at 6.5% in FY26: Fitch

FITCH RATINGS EXPECTS India's GDP to grow at 6.5% in 2025-26, and at a slightly lower rate of 6.3% in 2026-27.

1 min

Cabinet approves ₹1,500 crore for incentives on UPI payments

THE UNION CABINET on Wednesday approved an incentive scheme worth nearly 1,500 crore to promote UPI transactions below ₹2,000 for 2024-25.According to an official statement, under the scheme, the government will bear MDR (merchant discount rate) expense for a payment of less than 2,000 made by a person to a merchant.

1 min

Cutting tariffs on imports from US will hurt us: Medical device makers

VOICING CONCERNS OVER the likely reduction in tariffs on the medical devices being imported from the US, domestic manufacturers have said such a move will give \"undue advantage\" to foreign players and requested the government to have a rethink on the matter.

1 min

Wheat output estimate gap raises speculation concern

Projections by govt, industry vary by 5 MT

1 min

Need measures before raising FDI to 100% in insurance: Parl panel

A PARLIAMENTARY PANEL on Wednesday urged the government to put safeguard measures in place to counter concerns like profit repatriation while raising the foreign direct investment limit to 100% in the insurance sector.

1 min

India Offers FTAs to Members of Mercosur Bloc

As the efforts to expand the preferential trade agreement (PTA) with the Mercosur bloc are stuck, commerce and industry minister Piyush Goyal offered signing of free trade agreements with its members individually.

1 min

Indian economy resilient amid global uncertainty: RBI bulletin

Highlights robust agricultural output and consumption

1 min

Govt can act against tax treaty abuse despite PPT, say experts

THE CENTRAL BOARD of Direct Taxes (CBDT) has clarified that the principal purpose test (PPT) provisions, designed to prevent tax treaty abuse, will apply prospectively only to the double taxation avoidance agreements (DTAAs) that include a PPT clause.

2 mins

New launches aligning with our positioning of mass premium

Ceat, India's third largest tyre maker, introduced three new tyre types, run-flat, high-speed and low noise in the market, all aimed at the premium segment.

2 mins

Retail demand tops mall supply for third year

Retail leasing momentum in calendar year 2024 surpassed the supply of new stock as companies opted for larger stores, focused on categories such as beauty, personal care, apparel and accessories, consultancy Anarock Retail said.

1 min

India important market for sales, R&D, says HP CEO

HP CEO Enrique Lores said the company is keenly looking at India to establish a broader presence.

2 mins

Mass exits at Hero as 5 top execs quit

THE COUNTRY'S LARGEST two-wheeler manufacturer, Hero MotoCorp, has witnessed a significant leadership shake-up, with five senior executives, including HR head for talent management, Sameer Pande, stepping down from their roles.

1 min

BluSmart to rejig operations

Delinking pact with Gensol Engineering

2 mins

FMCG revenue growth may hit 6-8% next fiscal

FAST-MOVING CONSUMER goods (FMCG) companies may see a rebound in revenue growth in FY26, touching 6-8% in the next fiscal from 5-6% seen in FY25, Crisil Rating said in a study released on Wednesday.

2 mins

HCLTech Unveils FlexSpace for AI PCs

HCLTech has introduced HCLTech FlexSpace for AI PCs in partnership with Intel.

1 min

Aakash expands into online teaching space

AAKASH EDUCATIONAL SERVICES (AESL) on Wednesday entered the online teaching space with the launch of Aakash Digital, a platform offering all its courses, including the recently introduced Invictus programme.

1 min

Trump-branded offices make India foray

THE TRUMP ORGANIZATION has forayed into Indian commercial real estate with an office and retail project in Pune.

1 min

IT CEOs' sentiment for FY26 remains positive: Nasscom

THE OUTLOOK FOR the IT services sector remains optimistic for FY26, with a majority of CEOs expecting business growth despite global uncertainties, according to Nasscom president Rajesh Nambiar.

2 mins

Nawaz Modi Singhania resigns as Raymond board director

THE FAMILY BATTLE in Raymond Group seems to have ended with Nawaz Modi Singhania, the estranged wife of chairman and managing director Gautam Singhania, deciding to step down as a director from the board.

1 min

Rupee rises for 4th straight session, gains 19 paise

RISING FOR THE fourth straight session, the rupee appreciated 19 paise to close at 86.37 against the US dollar on Wednesday, supported by a positive trend in domestic equity markets and lower global crude oil prices.

1 min

SP Group Likely to Sell Bonds in April-June

SHAPOORJI PALLONJI GROUP is likely to raise around $3.3 billion through sale of bonds in the first quarter of the next financial year, two merchant bankers said on Wednesday.

1 min

Muthoot raises AUM growth target to 40% on gold loan surge

FOLLOWING A SURGE in demand for gold loans, Muthoot Finance has raised its assets under management (AUM) growth guidance for the fiscal to 40%, from 25-30% earlier.

1 min

RBI Mulls Asking Banks to Cut Offshore Forwards for Arbitrage

The central bank has urged lenders to focus more on using offshore non-deliverable forwards market to execute client trades

1 min

Sebi bars former TV anchor, two others from securities markets for 5 years

The Securities and Exchange Board of India (Sebi) on Wednesday imposed penalties on former news anchor Hemant Ghai and two others, including his wife, for alleged fraudulent practices and barred them from dealing in securities for five years.

1 min

Foreign funds pile into Indian debt even as they dump stocks

Rate-Cut Bets Boost Appeal

1 min

UCBs Must Be Mindful of Responsibilities: RBI Guv

Reserve Bank of India (RBI) governor Sanjay Malhotra on Wednesday told urban cooperative banks (UCBs) to be mindful of their responsibilities, given the trust and faith depositors repose on them.

1 min

Benchmark indices extend gains for third straight day

Investors wealth reclaimed ₹400 L-cr mark after a month

1 min

Steel imports face 12% duty

According to Sehul Bhatt, director-research, Crisil, said the imposition of a 12% provisional safeguard duty on some non-alloy and alloy steel products will provide pricing support to local manufacturers in the first half of fiscal 2026.

1 min

Israeli strikes kill at least 20, Palestinian medics say

ISRAELI STRIKES KILLED at least 20 Palestinians in Gaza on Wednesday, local health workers said, as the Israeli military unleashed more bombardments of the enclave and ordered residents to evacuate combat zones.

1 min

Trump releases JFK assassination papers

US PRESIDENT DONALD Trump released material related to the 1963 assassination of President John F. Kennedy on Tuesday, seeking to honor his campaign promise to provide more transparency about the shock event in Texas.

1 min

Samsung eyes deals it struggles for growth

SAMSUNG ELECTRONICS SAID on Wednesday it is looking at major deals to drive growth as it faced tough questions from shareholders after its failure to ride an artificial intelligence boom made it one of the worst-performing tech stocks last year.

2 mins

Musk's xAI startup joins $30-bn Microsoft-BlackRock AI fund

MICROSOFT CORP., the biggest backer of Sam Altman's OpenAI, and BlackRock Inc., which has an executive on the artificial intelligence startup's board, are joining forces with one of its chief rivals.

2 mins

Putin's vow not to hit infra at odds with reality: Zelenskyy

UKRAINIAN PRESIDENT VOLODYMYR Zelenskyy said on Wednesday that a vow by Russian counterpart Vladimir Putin not to attack energy infrastructure was \"very much at odds with reality\" following an overnight barrage of drone strikes across the country.

1 min

EU Plans to Cut Steel Imports by 15% as Trump Tariffs Bite

The European Union will tighten steel import quotas to reduce inflows by a further 15% from April, a senior EU official said on Wednesday, in a move aimed at preventing cheap steel flooding the European market after Washington imposed new tariffs.

1 min

Conveying climate statistics

A RECENT STATEMENT by the chairperson of the Net-work for Greening the Financial System (NGFS) sparked an interesting conversation.

4 mins

Let Demergers Drive Value for Stakeholders

By shedding conglomerate clutter, unlocking growth potential, and sharpening operational focus, they align the interests of companies and shareholders

3 mins

Academic ceasefire

Despite US' initiative, the conflict will take a long time to give way for lasting peace

2 mins

Google's $32 Billion for Cloud Upstart: A Leap of Faith

IT'S NOT OFTEN you see big tech firms getting pushed around. Upstart Wiz has just squeezed Google owner Alphabet to pony up $32 billion for a privately owned five-year-old cybersecurity firm.

2 mins

Support tech with a human touch

• Tech is as much about creating jobs as eliminating them

2 mins

Targeted solutions to counter AI risks

Firms seek tools & techniques to detect and prevent attacks

3 mins

Eight-day mission turned into 286-day ordeal for Williams

AN EIGHT-DAY MISSION for NASA astronaut Sunita Williams to the International Space Station (ISS) turned out to be a challenge of a lifetime as problems cropped up on her Boeing space flight that stretched her stay in orbit to over nine months.

1 min

NASA astronauts 'Butch and Suni' return to Earth after nine months

NASA astronauts Butch Wilmore and Suni Williams returned to Earth in a SpaceX capsule on Tuesday with a soft splashdown off Florida's coast, nine months after their faulty Boeing Starliner craft upended what was to be a week-long stay on the International Space Station.

1 min

GCCs See 10% Salary Jump in a Year

GLOBAL CAPABILITY CENTRES (GCCs) in the country are poised for a 9.8% salary growth over the next 12 months, as organisations adapt to evolving talent demands and navigate macroeconomic challenges, a report said on Wednesday.

1 min

India's Online Gaming Sector Likely to Cross $9 Billion by 2029

THE ONLINE GAMING sector in India is expected to grow by over twofold to $9.1 billion by 2029, largely dominated by real money games, a joint report by real money gaming platform WinZO Games and the Interactive Entertainment and Innovation Council (IEIC) said on Wednesday.

1 min

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