Financial Express Mumbai - November 22, 2022
Financial Express Mumbai - November 22, 2022
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In this issue
November 22, 2022
India's uniqueness could make it biggest market for us: Uniqlo's Sei
WHEN UNIQLO OPENED its first store in India, in Vasant Kunj, Delhi, in October 2019, it clocked sales of ₹2.2 crore in the first two days. Since then, barring the pandemic year (FY21), the brand is going from strength to strength in India, generating a profit of 21.49 crore in FY22.
2 mins
Re trade with Russia: Nod to HDFC Bank, Canara Bank
IN ABID to facilitate rupee trade with Russia, the Reserve Bank of India (RBI) has approved the opening of special vostro accounts by two more lenders, HDFC Bank and Canara Bank, according to media reports.
1 min
Bharti raises entry-level tariffs in two circles
2G users in Haryana and Odisha to pay ₹155 now, a 57% jump
3 mins
Public float tag likely for govt's stake in IDBI Bank
Buyer may get at least 5 years to comply with public holding norm
2 mins
RCap: Birla Sun Life may tap regulator over lack of data
ADITYA BIRLA SUN Life Insurance Company (ABSLI), a bidder for debt-laden Reliance Nippon Life Insurance Company (RNLIC), has warned it will seek regulatory intervention as lack of data is making it difficult to evaluate the deal.
2 mins
India not decoupled from global economy: Parekh
HOUSING DEVELOPMENT FINANCE Corporation chairman Deepak Parekh on Monday said that India will remain one of the fastest growing economies despite the spillover of global slowdown.
1 min
Norms to prevent fake reviews soon
TO PROTECT CONSUMERS from fake and deceptive reviews and unverified star ratings about the products and services sold through e-commerce sites, the Bureau of Indian Standards (BIS) will notify the standards in this regard on Friday.
1 min
Crisil cuts FY23 GDP forecast to 7%
CRISIL ON MONDAY revised down its India growth forecast for the current fiscal to 7% from 7.3% estimated earlier, citing the slowdown in global growth and its impact on India's exports and industrial activity.
1 min
India Inc pitches for job push
Moots rejig of PIT & capital gains tax regimes, hike in capex
1 min
Kerala sets up 89K MSMEs in FY23
KERALA WILL SOON meet the target of setting up 100,000 micro, small and medium enterprises (MSMEs) in the current fiscal, with 89,000 units registered under the special scheme launched earlier this year.
1 min
US EB-5 visa unlikely to reach pre-Covid levels till 2023-end, says LCR Capital
THE EB-5 VISA, or the US version of the golden visa, is unlikely to reach pre-COVID-19 levels before 2023-end, according to LCR Capital Partners, an investment firm that facilitates EB-5 visas for high net worth individuals and ultra-high net worth individuals in India.
1 min
Irdai chief meets insurance firms' CEOs for review
IRDAI CHAIRMAN DEBASISH Panda met CEOs of some general insurers, including health insurers, in Mumbai last week to review the performance of the industry and seek ideas from the industry leaders to improve insurance penetration in the country.
1 min
Refiners seek to buy Russian crude before sanctions
INDIA'S OIL REFINERS are looking to pick up a bit more Russian crude in last-minute purchases just weeks before new sanctions take effect.
1 min
Steel export taxes removal to herald new era: Scindia
WITHDRAWAL OF EXPORT taxes on various steel products could herald a new era of growth for the domestic steel industry, which has already gained a footprint internationally, Union minister Jyotiraditya Scindia said on Monday.
2 mins
PM-Kisan beneficiaries cross 100 million, says govt data
THE BENEFICIARIES UNDER the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), in which 6,000 is annually transferred to farmers'bank accounts in three equal installments, have crossed 100 million, up from 31 million at the beginning of the scheme in February 2019, according to the Union agriculture ministry.
1 min
Asset monetisation of ₹33,422 cr in FY23 so far
THE GOVERNMENT HAS monetised assets worth 33,422 crore under the National Monetisation Pipeline (NMP) in 2022-23 so far, with the coal ministry leading the list by raising 17,000 crore and the ports and shipping ministry surpassing its overall fiscal target, according to sources.
1 min
Tyremakers brace for winter hurdles in Western markets
Rising costs hitting demand, especially in US & Eurone
2 mins
Essar Group completes $2-bn sale of assets, now 'debt-free'
THE RUIA FAMILY-RUN Essar Group on Monday said it has concluded the sale of captive ports and power assets located at Hazira in Gujarat and Paradip in Odisha to ArcelorMittal Nippon Steel India (AM/NS) for about $2.05 billion (16,500 crore).
1 min
Zepto's monthly sales currently double that of entire FY22, says CEO Palicha
QUICK COMMERCE PLATFORM Zepto's monthly sales are currently the double of what the platform clocked in the whole of financial year 2022, Aadit Palicha, cofounder and chief executive officer of the company, told FE.
2 mins
RJio gets NCLT nod to acquire Reliance Infratel
Asked to deposit total resolution amount of ₹3,720 cr in escrow a/c
2 mins
Adani's open offer for NDTV opens today
ADANI GROUP'S OPEN offer to acquire an additional 26% stake in media firm New Delhi Television (NDTV) from the market will start from Tuesday. The offer with a price band of 294 per share will open on November 22 and close on December 5, a notice by JM Financial, the firm managing the offer on behalf of Adani Group firms, said.
1 min
Strong order book to drive growth
Company aspires to attain good position in India-led tractor exports
1 min
'Metaverse could lead to increased cyber crime'
The metaverse is all about the virtual world, therefore, there is no specific way to identify cybercriminals, says Sundar Balasubramanian, MD, India & Saarc region, Check Point Software Technologies.
2 mins
Smart solutions from the young for old problems
Samsung programme nurtures creativity in young people
2 mins
Simple strategy in a complex business
It is now producing high quality products with new-technology
2 mins
Working on many fronts to improve outlook
GNP to enhance its exiting brand franchise; focus on core therapies
1 min
China's Covid curbs return as deaths emerge in Beijing
BARELY AWEEK in, China's lightertouch Covid Zero Policy is already running into trouble.
1 min
Race heats up to lead powerful army through Pakistan tension
GENERAL QAMAR JAVED Bajwa, the chief of Pakistan's army is set to retire on November 29, paving the way for Prime Minister Shehbaz Sharif to name a new commander to lead the influential military at a politically tense time for the South Asian country.
1 min
Disney brings back Bob Iger as CEO in bid to boost growth
Outgoing chief executive Chapek's tenure hit by challenges
2 mins
World Cup teams drop rainbow armband plans after FIFA threat
SEVEN NATIONAL FOOTBALL teams, including England, will not wear a rainbow armband showing solidarity with LGBTQ rights, bowing to pressure from FIFA because players might receive a yellow card for the show of support.
1 min
UK won't align with EU laws in post Brexit ties: Sunak
British Prime Minister Rishi Sunak on Monday unveiled a new scheme for the world's 100 most talented young professionals in the field of artificial intelligence (AI) as part of his vision to make the UK a \"beacon\" to attract the \"brightest and best\" from around the world.
1 min
IPOs post August see better response from investors
Overall subscription figures are a vast improvement over the IPOs that hit the market between January and July
1 min
Revaluation, RBI dollar buys fuelled jump in forex reserves: Analysts
THE BIGGEST JUMP in India's foreign exchange reserves in more than a year was prompted by the country's central bank buying up dollars and on account of revaluation, analysts said on Monday.
1 min
Equitas SFB eyeing 25-30% credit growth
EQUITAS SMALL FINANCE Bank is targeting to grow its credit portfolio by 25-30% in the third and fourth quarters of the current financial year, led by a broad-based growth across core segments, including microfinance, vehicle lending and loan against properties (LAP), a senior bank official said. The lender is also eyeing a similar growth in its liabilities side for the rest of FY23.
2 mins
China Covid scare keeps markets on tenterhooks
THE BENCHMARK INDICES - the 30-share Sensex and Nifty-50 closed in the red for the third consecutive trading session on Monday.
1 min
PSB stocks touch multi-year highs on attractive valuations
SHARES OF VARIOUS mid-sized public sector banks hit multi-year highs on Monday as attractive valuations of these lenders, coupled with an improvement in their asset quality made them top choices among investors.
2 mins
Force Motors unveils Urbania van developed with ₹10,000 crore
FORCE MOTORS ON Monday said it has commenced the production of its next-generation shared mobility platform Urbania, developed at an investment of 1,000 crore.
1 min
Royal Enfield hits over 30% market share in above 125 cc segment
ICONIC BIKEMAKER Royal Enfield recorded more than 30% market share in the first half of the current fiscal in above 125cc segment, riding on the back of Hunter launch coupled with the robust festival demand on the retail front.
1 min
Bengaluru tops office rental growth in APAC
BENGALURU CONTINUES TO lead the Asia Pacific region in terms of office rental growth at 12.1% yearon-year in the quarter ended September, according to Knight Frank's Asia-Pacific Prime Office Rental Index for the quarter.
1 min
Areez Khambatta, founder of iconic Rasna, dies at 85
DECADES BEFORE 'MADE in India' became the business anthem of India Inc, a Parsi entrepreneur-cum-philanthropist from Ahmedabad showed the country how to put it into practice.
2 mins
Most employees feel moonlighting unethical: Study
WITH MOONLIGHTING GAINING traction in the country, most employees (81%) interviewed said they do not wish to resort to it and feel it is unethical, as per a report.
1 min
In 30 months, RBI fines banks 73 cr in 48 cases
ON AUGUST 5 this year, the Reserve Bank of India (RBI) imposed a monetary penalty of 32 lakh on a public sector bank for non-compliance with certain provisions of the Reserve Bank of India (Fraud classification and reporting by commercial banks and select FIS) Directions 2016. However, it did not provide details of the non-compliance orviolations by the bank.
3 mins
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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