Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia's invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this, savings from importing cheap Russian oil were significant enough to help Indian refiners tide over frozen petrol and diesel pump prices.
Social gatherings and events held at hotels have seen an exponential rise since the pandemic and to cater to that segment, Hyatt Hotels has launched a luxury venue in Mumbai. Last week, Hyatt launched 'The Grand Showroom' which is a luxury venue customisable for events ranging from corporate parties, luxury weddings to high-profile occasions. This venue is an addition to its existing property in the city - Grand Hyatt Mumbai.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
'Tomorrow I will go back home, clean my bed, pay my rent, all the normal things that a person does.' 'I'll still be the same person for my friends, my parents.' 'That grounding is the real thing, rather than the feeling of having made it.'
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
Sazerac Company, the largest distiller in the US, is looking to leverage India's position as the world's largest whisky market to introduce a range of bourbon whiskies in the country. Identifying India as a key priority market, Diego Bianchi, general manager of emerging markets and Barrel Select at Sazerac Company, told Business Standard that new consumers, including women, will be key drivers for the growth of the category in India. "India, particularly, is where some of the fastest-growing consumers are.
When star mutual fund managers quit their jobs to start their own ventures, they have often begun their new innings by becoming portfolio management service (PMS) providers. Over the years there has been an influx of fund managers - they could earn big if they succeeded on their own - and alongside there are wealthy clients looking for an edge beyond that offered by traditional mutual funds.
'Many were caught in a burnout race, chasing unsustainable growth without innovating.'
'Expect India to keep doing well irrespective of geopolitics.'
'Earlier, our cost of funds was higher than most in the peer group.'
Why is Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, not worried about the competition?
'Every Indian should move to an EV, and the government should not buy any fossil fuel cars. The government should become the first driver of EV adoption.'
'The IPL provides a different ladder in terms of recognition.' 'If you do well, you will obviously get noticed and it enhances your selection into white-ball formats.'
'We are committed to achieving the targets we had outlined.'
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
The Indian arm of the Norwegian investment company Orkla ASA, which owns spice brands like MTR and Eastern, is exploring the possibility of launching an initial public offering (IPO) in 2025, said a top company executive. "The ASA board just cleared the proposal. "We had done a pre-IPO study last year to understand what we need to do and based on that the board said, 'okay, let's go ahead and explore capital markets'," Sanjay Sharma, CEO, Orkla India, told Business Standard.
Workers' strike at Samsung Electronics plant at Sriperumbudur entered 30th day on Tuesday with no end in sight as Centre of Indian Trade Unions (CITU), the union leading the charge, claimed that its major demands are yet to be fulfilled. This is despite the company agreeing to pay a special incentive to the employees.
The charging infrastructure expansion includes the setup of over 600 DC charging stations by 2030 (including company-owned and company-operated ones) in addition to partnerships with over 10,200 charging points, collaborating with operators like Shell, Charge Zone, and Statiq.
The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
The Fintech Association for Consumer Empowerment (FACE), the only self-regulatory organisation for financial technology/fintech (SRO-FT) companies, is aiming to secure membership from at least 75 per cent of players across all key fintech categories within the next three years, according to a senior executive. The total number of members in the organisation has increased to 110, up from around 60 when it received approval from the Reserve Bank of India (RBI) to operate as an SRO-FT in August.
At the PMO, policies are framed by factoring in analytical perspectives, implications, sustainability, and other dimensions.
Both new and completed project values as of December 2024 remain below pre-pandemic levels seen in 2019.
The Telecom Regulatory Authority of India (Trai) may extend the deadline to whitelist URLs (Uniform Resource Locators), APKs (Android Package Kit), or OTT (Over The Top) links - through which it intends to curb their misuse -is likely to be extended by 30 days as only over 3,000 registered senders (businesses) have complied, officials indicated. According to Trai officials, over 3,000 registered senders have whitelisted more than 70,000 links, but many more (thousands of others) are yet to comply with the directive as the mandatory norms are set to come into effect from October 1.
With rising disposable incomes in cities beyond metros, the penetration of credit cards - and consequently, credit card spending - is growing at a much faster pace than in traditional metro cities, primarily driven by e-commerce spending.
'Regulatory challenges exist everywhere. What we look for is regulatory stability over time.'
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
UK-based Vedanta Resources is looking to start copper production at its Konkola copper mines (KCM) in Zambia and is eyeing to serve global and Indian markets, according to company executives. Promoted by billionaire Anil Agarwal, the miner in November 2023 regained control of the copper mines and smelter, which the Zambian administration had seized in 2019, but needed to pay creditors of the mines to revive operations. The conglomerate was locked in a legal battle over the ownership of the KCM mines prior to a September 2023 Zambia government decision to reinstate the group as owners of the mines.
'The cooperation in technology is one of the most important aspects of the visit.' 'It will have a long-lasting impact because it will shift the entire paradigm in the context of artificial intelligence and emerging technologies.'
The meltdown in Dalal Street that wiped out investor wealth to the tune of 44 trillion in 2025 also seems to be having a ripple effect on the country's vibrant automobile retail sales.
'However, this process will take some time. Depending on the approval timeline, it may span a few quarters.'
Tata Realty and Infrastructure, a subsidiary of Tata Sons, is looking to expand its business with over 50 projects across major cities in India, Sri Lanka, and the Maldives. The combined projects boast a development potential exceeding 51 million sq ft, according to a top executive. The Mumbai-based real estate major has completed the first phase of project developments in Male (the Maldives), and is gearing up for the second phase. It has also expanded its footprint in Sri Lanka and plans to add about 2 million sq ft. in Colombo.
FSSAI is looking to tap the Airport Health Organisation to ensure that such incidents aren't reported in the future.
'Stay disciplined, and remain invested.' 'Volatile times are the best to invest in structural opportunities at the right price.'
Rahul Gandhi, the Leader of the Opposition in India's Lok Sabha, has accused the Speaker, Om Birla, of running the House in a "non-democratic style" and preventing him from speaking. Gandhi claims that he was not allowed to speak on various issues, including unemployment and the Maha Kumbh festival, despite raising his hand to speak. He also alleges that the Speaker made unsubstantiated remarks about him and adjourned the House without giving him an opportunity to respond. The Speaker, however, has urged members to conduct themselves in accordance with the rules of the House, especially the Leader of the Opposition.
'The US has agreed to negotiate with us a mutually beneficial bilateral trade agreement, which will go for reduction of tariffs on both sides so that our trade can grow.'
'By March-end, we should have closure of the PNC portfolio. After completion of PNC acquisition.'
'When one air force (India's) hits the other's airbases with impunity and that air force (Pakistan's) is not able to respond, then the air force, which has put the other's airbases out of commission, has won.'
Dengue has become a major public health concern in India with 289,235 cases reported last year. This year there were 19,447 cases of dengue which resulted in 19 deaths till April 2024.
Tourism is badly affected. Entire apple orchards have been washed away. 2 million people are threatened with loss of livelihood.
Mutual funds (MFs) reinforced their record monthly inflows in October with an investment of Rs 87,000 crore (up to October 29), softening the downside pressure on domestic markets. Their prior record for monthly inflows was Rs 48,139 crore in May. This unprecedented monthly buying partially countered record monthly sales by foreign portfolio investors (FPIs) of Rs 1.1 trillion last month.
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