Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
What can malls do to entice customers? Brand coach Ambi Parameswaran has a few suggestions.
'Everybody thought I was crazy to quit my job and jump into entrepreneurship.'
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
Fans wearing the India jersey, carrying the Indian flag, laughing, joking and anticipating an India win are moving towards the Narendra Modi stadium. There are families, friends, children, adults, teenagers, middle aged and the senior citizen who have all painted the city blue.
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
'With the current situation in the global job market, students come back with an added burden of educational loans.'
Founded by James Lansdowne Norton in Birmingham (in 1898), Norton Motorcycles is among the most popular British motorcycle brands of all time.
France has now over-taken the UK as India's most visited European nation
'From the start, we have sought to put in the right measures at the right time. We will not hesitate to go further if that is what the scientific and medical advice tells us we must do'
Exports to India's key markets - the US, the United Arab Emirates, China, Singapore, Bangladesh and Germany - witnessed a sharp decline, resulting in a 12.69 per cent contraction in outbound shipments during the first month of the current financial year, commerce department data showed. India's biggest export market - the US - with 17 per cent share witnessed 17.16 per cent contraction at $5.9 billion in April. This was followed by the United Arab Emirates (UAE) that saw 22.09 per cent decline at $2.23 billion exports.
'On the other side, we have an ideology of hatred and violence, a disrespectful ideology that attacks people because of their ideas. And you must have noticed one thing that this is in the nature of BJP and the RSS'
On the BSE, 2,243 scrips declined, while 224 advanced and 106 remained unchanged.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
Sharma was the president of the conference, the first since the Paris Agreement of COP21 that expected parties to make enhanced commitments towards mitigating climate change.
The bank remains on high alert to intervene if markets freeze.
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
The UK India Business Council expects more emphasis to be put on improving bilateral economic ties.
For all its claims to economic glory, the majority of India's population lives vulnerable lives, a situation that has only worsened over the past 15 years, to the extent that the government now fears to release economic data or even conduct a proper Census, notes Rathin Roy.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
While the Investor of the Year award went to Tata Sons, the Business Partnership of the Year went to DLF Laing O Rourke, the Innovation of the year was HRS Process Systems and Benoy was the New Market Entrant of the Year.
The MPs voted in favour of the Queen's Speech by 323 votes to 309 with a majority of 14.
In 2009, Ranbaxy had to recall about 4,000 cartons of Sotret Isotretinoin through its US-based subsidiary.
'In terms of ticket sales, Hindi is at 50-60 per cent while the South markets are at 80-90 per cent of pre-pandemic levels.' The patchy performance of Hindi, the largest segment of the business is the nub of what is bothering Indian cinema.
After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said.
Wind power major Suzlon Energy on Friday said it was looking at exploring new markets like Greece, UK, Taiwan and Philippines besides strengthening its operations in China.
The UK government has promised to put in place measures worth hundreds of millions of pounds to support any rescue deal for the Indian group's UK business.
Accompanied by her husband Hugh O'Leary and two daughters, Britain's shortest-serving Prime Minister ended her tenure by trying to strike an optimistic tone as she said that brighter days lie ahead.
Besides an aggressive marketing strategy for India, FritoLay is also taking Kurkure overseas by sharing manufacturing technology with its counterparts in the UK, the US and Pakistan.
UK's civil nuclear energy companies are looking for tie-ups with Indian counterparts.
After the first quarter was washed out, exporters are now keeping their fingers crossed over a turnaround in outbound shipments to at least North America from September onwards. This comes even as other key destinations such as Europe may take longer to revive in FY24. Slowdown in key economies, as well as geopolitical tensions resulted in sluggish demand for Indian goods.
The Gem and Jewellery Export Promotion Council has engaged UK-based Trend Forecasting for trend analysis focussing on the global market. \n\n
Raghuram Rajan's decision to go back to academics might spell short term negativity for the stock, currency and bond markets.
Brexit will likely put brakes on the UK's growth prospects.
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
'Their role model is Iran: high control of the citizens by the State.' In Iran it is Islamic control; in India, it will be Hindutva control.'
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
The impact of AI automation in India is the lowest.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
This is the highest in Europe and the third in the world after the United States and China
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