Financial Express Mumbai - May 16, 2023
Financial Express Mumbai - May 16, 2023
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In this issue
May 16, 2023
WPI enters deflation zone, at 34-month low
WHOLESALE PRICE INDEX (WPI) fell into the deflation zone in April, with the lowest reading since July 2020, at -0.92%. This comes on the back of a broad-based softening of prices and a favourable base effect, according to official data released on Monday.
3 mins
Adani not probed since 2016: Sebi
SC defers decision on extension of time limit
3 mins
IT winter freezes engg schools
Entry-level tech jobs estimated to see 40% dip this year
2 mins
Exports shrink 13% in April, slump to continue till H2
Imports contract sharper, trade deficit at 20-month low
2 mins
Trade negotiations with UK, EU, Canada, Australia in June
INDIA AND THE UK will hold the next round of negotiations on the Free Trade Agreement in June with the aim to conclude the negotiations at the earliest, a senior commerce ministry official said Monday.
1 min
India-EFTA trade talks gather pace
INDIA AND EUROPEAN Free Trade Association (EFTA), which includes four non-European Union members, on Monday agreed to ramp up efforts to arrive at a common understanding on key issues around the proposed bilateral Trade and Economic Partnership Agreement (TEPA).
1 min
Key GST groups of ministers likely to be reshuffled
Group on rate recast to get new chair with Bommai's exit
2 mins
Adani arm to raise $500-700 mn
GREEN ENERGY FIRM EXPLORES QIP & OTHER MODES
1 min
Tata Motors to miss zero debt deadline, raises JLR outlook
CONTINUED DEMAND SUPPORTED by the easing of supply chain issues has bolstered Tata Motors' outlook for Jaguar Land Rover (JLR) for FY24, with the company aiming to sell 7.5% more cars than FY23 and cut down debt by two-thirds at the two British luxury auto brands.
2 mins
Foxconn to invest $500 mn, create 25k jobs in Telangana
APPLE'S CONTRACT MANUFACTURER Foxconn will invest $500 million (around ₹4,115 crore) in setting up manufacturing plants in Telangana, the state's minister for commerce and IT KT Rama Rao said on Monday. The investment will create 25,000 jobs in the first phase of the project, the minister said.
1 min
Pharma retail emerges new frontier for organised players
THE COUNTRY'S TOP two organised retailers, Reliance Retail and DMart, are shifting focus to the large but fragmented pharma retail market in India in their quest for growth.
2 mins
Go First: NCLAT order on lessors' plea on May 22
THE NATIONAL COMPANY Law Appellate Tribunal (NCLAT) will pass its order on May 22 on petitions filed by three aircraft lessors against Go First's voluntary insolvency resolution proceedings.
1 min
PVR Inox net loss widens to ₹333 cr
MULTIPLEX CHAIN PVR Inox on Monday reported a net loss of ₹333 crore for the quarter ended March 31 (Q4 FY23). The company had clocked a profit of ₹16.1 crore in the December quarter and a loss of ₹105 crore in the year-ago period.
1 min
UK-based firm to invest $100 mn in SpiceJet arm
TO HELP SPICEXPRESS WITH EXPANSION
1 min
Outgoing Puma MD unveils new venture
ABHISHEK GANGULY, THE India and Southeast Asia MD of German sports goods maker Puma, who is leaving the company in August, on Monday announced his new venture, Agilitas Sports. The start-up will invest in Indian sportswear firms.
1 min
Why customer experience is critical to any business
Generative AI and cloud tech make it interactive and personalised
2 mins
NSE Q4 profit climbs 31% to ₹2,067 crore
THE NSE POSTED a consolidated net profit of ₹2,067 crore for Q4 FY23, up 31% from ₹1,580 crore in the year-ago period. The net profit margin stood at 55%, similar to the previous year.
1 min
Rupee plunges to six-week low vs dollar; premiums drop
THE RUPEE SANK to a six-week low against the U.S. dollar on Monday as interest rate differentials between the US and India narrowed, while forward premiums hit their lowest in three months.
1 min
Expansion push: PSBs engage more biz correspondents
Both individual and non-individual entities can serve as a BC partner for a bank
2 mins
Thai voters deliver stunning verdict to army-backed rule
42-year-old Pita Limjaroenrat says poll results are sensational
2 mins
Microsoft wins EU nod for $69-bn Activision deal
MICROSOFT'S $69 BILLION takeover of Activision Blizzard Inc. won European Union approval, putting the bloc at odds with its UK and US counterparts.
1 min
Erdogan leads as Turkey heads for election run-off
TURKEY'S PRESIDENTIAL ELECTION will be decided in a runoff, election officials said Monday, after incumbent Recep Tayyip Erdogan pulled ahead of his chief challenger, but fell short of an outright victory that would extend his increasingly authoritarian rule into a third decade.
1 min
Elon Musk Loses Bid To End Sec 'Muzzle' Over Tweets
ELON MUSK CANNOT back out of a settlement with securities regulators reached after his 2018 tweets claiming he had secured funding to take Tesla private caused the electric vehicle maker's share price to jump and led to a temporary halt in trading, an appeals court ruled Monday.
1 min
Growth, jobs to figure at Niti meet on May 27
PRIME MINISTER NARENDRA Modi will chair the eighth meeting of the Governing Council of Niti Aayog on May 27 to deliberate with chief ministers on a range of issues including growth and jobs, sources said.
1 min
Ship case witness tried to extort ₹25 cr from SRK: CBI
Threatened to falsely implicate the actor's son in the case
3 mins
Govt cuts application fee by 80% for solar module makers, doubles enlisting validity
THE MINISTRY OF new & renewable energy (MNRE) has taken major reforms in the 'Approved List of Models and Manufactures for Solar Photovoltaic Modules' (ALMM) including a sharp 80% reduction in application fee as well as doubling enlisting validity.
1 min
$5-billion undersea UAE-Gujarat gas pipeline proposed
Proposal sent to petroleum ministry
2 mins
Brand Dhoni Is No Longer Just About Cricket
CSK Captain's net worth at over ₹1,000 crore
3 mins
Financial Express Mumbai 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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