The Times of India - Business (46 minutes ago)
Startups and VC firms are seeking a simplified tax regime and measures to increase domestic capital availability in the upcoming Budget. They emphasize parity in taxation between foreign and domestic funds to attract foreign investors and foster growth for Indian AIFs.
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The Union Cabinet has greenlit an Rs 11,440 crore revival package for Rashtriya Ispat Nigam (RINL), addressing its debt issues. The package includes equity infusion and loan conversion to preference shares. This move aims to stabilize production, protect jobs, and ensure operational efficiency at the Visakhapatnam Steel Plant.
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China is restricting the movement of employees and specialized equipment for high-tech manufacturing to India and Southeast Asia, aiming to prevent production shifts due to possible US tariffs under President-elect Trump. The measures target technology transfers, potentially impacting companies like Foxconn and affecting India's solar panel and...
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Finance minister Nirmala Sitharaman plans to introduce a bill for a new direct tax law during the budget session. The focus is on simplifying provisions and making the language more accessible for the common man. The new law will replace the 63-year-old Income Tax Act. The bill will be introduced and potentially tweaked based on feedback from...
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The IMF maintains India's growth forecast for 2024-25 at 6.5% despite a sharper-than-expected deceleration in industrial activity. Calls for measures to boost consumption persist amid global uncertainty. The IMF aligns with the World Bank's estimate, recognizing India's tag as the fastest-growing major economy.
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Zomato has invested an additional Rs 500 crore into Blinkit, its quick commerce business, bringing total funding to Rs 2,800 crore since the 2022 acquisition. This move follows Zomato's recent Rs 8,500 crore fundraising, aimed at bolstering its financial position amidst stiff competition in India's quick commerce sector.
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The State of the Economy report from RBI suggests the time is ripe to boost demand and investment, with an anticipated economic rebound driven by strong agricultural prospects and a resurgence in domestic demand. Emphasis is placed on monitoring inflation and leveraging public capital expenditure and green energy initiatives for sustainable growth.
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Wipro's revenue dropped 0.7% year-on-year in the Dec quarter but met its guidance, with a forecasted growth of -2% to 0% for the next quarter. The company reported a positive outlook with increasing AI spending, a good pipeline, and improved operational efficiency. Wipro's headcount reduced by 1,157 employees.
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RBI's recent bulletin emphasizes the importance of foreign exchange interventions for emerging markets like India. These actions help stabilize capital flow volatility, with RBI moderating currency swings through both purchases and sales. This strategy aims to manage volatility and prevent financial risks, as highlighted by Michael Patra and...
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The federal incentive for buying electric vehicles has stopped months earlier than planned, due to a surge in demand. With Quebec pausing its rebate for buyers and the political winds shifting in the U.S., where does that leave Canadians looking to buy EVs in 2025?
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ICICI Lombard reported a 68% increase in net profit to Rs 724 crore for Q3 ended December 2024, compared to Rs 431 crore in the same period last year. Gross direct premium income slightly fell to Rs 6,214 crore. The solvency ratio was recorded at 2.36x, exceeding the regulatory minimum of 1.50x.
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US industrial production fared much better than expected last month, the Federal Reserve said Friday, rising sharply as aircraft manufacturing rebounded after the end of a strike at Boeing. The Fed noted that "the resolution of a work stoppage at a major aircraft manufacturer" helped propel gains in the output of aircraft and parts, a reference to...
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Tech Mahindra reported a 93% increase in net profit for the December quarter, reaching Rs 983 crore, aided by a low base in the corresponding period last year. Revenue from operations grew by 1.4% to Rs 13,286 crore. The company secured new deals worth $745 million and continued its hiring drive.
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Experts say while artificial intelligence could replace some jobs, it can also be a useful tool for others. Nevertheless, a new study says it will have an effect on a large portion of the province's workforce, hitting specific demographics harder than others.
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Wipro's consolidated net profit for the December quarter rose by 24.4% to Rs 3,354 crore, with operational revenue reaching Rs 22,319 crore. The IT firm announced an interim dividend of Rs 6 per share and raised its capital allocation policy payout ratio to 70%.
ReadThe Times of India - Business (12 hours ago)
India's foreign exchange reserves have seen a significant decline of USD 8.714 billion, dropping to USD 625.871 billion for the week ended January 10. The reduction is attributed to revaluation and the Reserve Bank of India's efforts to stabilize rupee fluctuations, with foreign currency assets reducing by USD 9.469 billion.
ReadThe Times of India - Business (15 hours ago)
Budget 2025 expectations: FICCI advises Finance Minister Nirmala Sitharaman to maintain emphasis on investments and implement next-gen reforms in Union Budget 2025. Key recommendations include boosting capex by 15% and establishing inter-state platforms for reforms in land, labor, and power sectors.
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India must reduce high tariffs to stay competitive and attract investment amidst the US-China trade war, says outgoing US Ambassador Eric Garcetti. Although American companies see potential in India's market, they find it easier to operate in Southeast Asia and Mexico. Strengthening US-India relations, especially in defense and technology, remains...
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