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India, UK may close FTA deal very quickly: Minister Piyush Goyal
Shortly after Keir Starmer assumed leadership of the British government, Commerce Minister Piyush Goyal confirmed that the long-awaited Free Trade Agreement between the UK and India is on the verge of completion. This progress follows a telephone discussion between Prime Minister Narendra Modi and newly elected UK Prime Minister Keir Starmer, who secured a decisive electoral victory. The UK government stated that during their conversation, they discussed finalizing a mutually beneficial trade deal.
What goes on behind closed doors at America's billionaire summer camp?
This week in Idaho's Sun Valley, the annual Allen & Company summit has gathered top business, media, and political leaders for what's known as the "summer camp for billionaires." Attendees, including tech giants and entertainment moguls, engage in off-the-record talks and outdoor activities. The summit, famed for spawning major deals, hosts discussions on AI, corporate leadership changes, and political futures. Notable absentees like Warren Buffett and Elon Musk underscore shifting dynamics among industry leaders, amidst speculation about upcoming elections.
Ashiana housing to double its annual senior living housing sales
Ashiana Housing, a listed real estate developer, is aiming to double its annual senior living housing sales to 1,000 units within four years. This comes in response to the post-Covid surge in demand, which has already increased their sales from 200 units to 450–500 units per year. The company reported a revenue of Rs 1,800 crore in FY 2023–24, a 50% increase from the previous year, and is targeting Rs 2,000 crore for the current financial year.
Modi-Putin phone calls shaped Indian PM’s decision to visit Moscow for annual summit
Narendra Modi's upcoming visit to Moscow for the annual summit stems from two phone calls between him and President Vladimir Putin. They first spoke after Putin's election victory in March and again following Modi's re-election in June. The visit aims to boost the strategic partnership amid global scrutiny and discussions on the Ukraine conflict. India's strategic autonomy and historical ties with Russia play a crucial role, emphasizing cooperation in defense, energy, and geopolitical support, including Soviet backing during the 1971 war and the Kashmir issue.
Football-sized asteroid comes close to earth, raises collision concerns. Can asteroids be deflected?
A football-stadium-sized asteroid passed close to Earth and the moon, the second such event in three days. Asteroids are rocky remnants from the early solar system, sometimes posing collision risks.
Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority
Purplle has also announced a Employee Stock Ownership Plan (Esop) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company cofounder and CEO said they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
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Nike stock plunges as gloomy sales forecast fans growth concerns
Nike faces stock woes and market challenges, prompting a potential shift in leadership under CEO John Donahoe's digital-focused strategy. The company's strategic pivots towards sustainability and product revamps aim to counter market pressures, signaling a critical phase for Nike's future direction and management dynamics.
ITC chairman's net remuneration in FY24 grew 80%, executive directors also got more
As the ITC chairman, I oversee a team of executive directors whose remuneration has significantly increased in FY24. The increments are linked to our financial performance and market competitiveness, with specific focus on performance bonuses, long-term incentives, and commissions.
Nephro Care IPO opens today: Check issue size, price band, GMP and other details
Invest in the Nephro Care IPO in Kolkata to support healthcare initiatives and gain potential returns through shares.
FedEx climbs on cheery annual profit forecast, freight business review
FedEx shares jumped 13% premarket on Wednesday after the delivery giant reassured investors with a largely upbeat annual profit forecast and said it would weigh options for its less-than-truckload business that one analyst valued at $30 billion.
PM Modi plans Moscow visit in July 2nd week for next edition of annual summit
Prime Minister Narendra Modi plans to visit Moscow from July 7-10 for a bilateral annual summit aimed at deepening the strategic partnership between India and Russia. This will be Modi's first visit to Russia since 2019, as prior visits were hindered by the pandemic and the Ukraine war. The visit, which follows Modi's re-election, will focus on energy, defense, connectivity, and natural resources. The trip will also allow Modi to discuss the Ukraine conflict and emphasize dialogue and diplomacy, reflecting India's neutral stance on the issue.
Dow closes at a one-month high as investors broaden portfolios
The Dow reached a one-month high, but the Nasdaq fell over 1% as investors shifted from AI-linked stocks. Federal Reserve rate cuts were anticipated, impacting market movements.
Adani Ports to enter Sensex on Monday, Wipro to exit as part of semi-annual rejig
Adani Ports’ Sensex inclusion will trigger passive inflows of $259 million and 14.9 million shares are expected to be added, according to Nuvama’s estimates. Wipro’s exclusion could see outflows of $170 million.
Buying gold annually in order to diversify allocation of forex reserves: Shaktikanta Das
I think SEBI is engaged with that. So, let me not intrude into SEBI's territory and start talking about the stock markets. I think SEBI is fully seized of what is happening in the markets and we have our regular interactions with the SEBI as a part of the FSDC, the Financial Stability and Development Council, we have also a subcommittee which is chaired by the governor.
MF Query: How Rs 25,000 per month SIP with 15% annual increase can make you a crorepati in 10 years
If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts.
Amarnath Yatra: Police conducts mock drill at Jammu base camp ahead of annual pilgrimage
Ahead of the annual Amarnath Yatra, police conducted a mock drill at the base camp in Jammu. quick reaction teams (QRTs) and special operations group (SoG) participated in the drill. The drill involved the first responder team and territorial officers for practical training, aiming to enhance readiness for any unforeseen incidents. An 'alert advisory' was issued urging vigilance in the region. The 52-day pilgrimage to the cave shrine in south Kashmir starts on June 29.
Muslims start the Hajj against the backdrop of the destructive Israel-Hamas war
This year's Hajj came against the backdrop of the raging war in the Gaza Strip between Israel and Palestinian militants, which pushed the entire Middle East to the brink of a regional war between Israel and its allies on one side and Iran-backed militant groups on the other. Palestinians in the coastal enclave of Gaza were not able to travel to Mecca for Hajj this year because of the closure of the Rafah crossing in May when Israel extended its ground offensive to the strip's southern city of Rafah on the border with Egypt.
Netskope crosses $500 million in subscription revenue, in no rush to go public
Chief executive Sanjay Beri said the company has been making internal preparations for an initial public offering (IPO) but there was no rush in an election year.
Series AA 127- The EV transformation-Part 1: How a multibagger got fresh tailwinds & gave 22,334% return in the last 20 years
Excerpts from its annual report for 2017-18. ELECTRIC VEHICLES – THE NEW MARKET DISRUPTOR “We are anticipating the next market disruption through electric vehicles. We are closely reviewing and watching the situations and doing our ground level work. We are also mapping all of our existing products vis-à-vis EV to capitalise on the opportunities EV will throw at the component manufacturers, whether it is motors, batteries or any other system which will come into the electric vehicles, totally different from the conventional IC engine” Cut to August 2023, five years down the line, the company commissions two plants for making on-board charger, off-board charger, motor control Units, DCDC converters, battery management systems, and more products catering to EV 2-wheelers and 3-wheelers. Now this is a reflection of the speed at which an auto ancillary company needs to function and also the product range it needs to have if it has to stay relevant in the changing world of the auto Industry. Foresight, planning and timely execution is the key.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
Oyo’s maiden annual profit; RBI guidelines for fintech SRO
In a significant turnaround, hospitality startup Oyo reported its first annual profitable fiscal on Thursday. This and more in today’s ETtech Top 5.
RBI projects real GDP growth at 7% in FY25, says outlook for Indian economy remains bright
The Reserve Bank of India's annual report projects a 7% growth for the Indian economy in the current fiscal year. It highlights the economy's resilience and sustained strengthening of macroeconomic fundamentals. The report notes a robust expansion in the previous fiscal year, with real GDP growth reaching 7.6%. Despite headwinds, the outlook remains positive due to government investments and consumer optimism.
Banking tech startup Gravity raises $1 million from Kettleborough VC
Business-to-business (B2B) banking tech startup Gravity will use the fresh capital to strengthen “our engineering strength to build the product and take it to the next version, offering the best in product engineering we can,” cofounder and chief executive Satish Krishnaswamy told ET.
Workday shares sink over 13% as slower hiring hits payroll services demand
Workday shares dropped on Friday due to a lowered annual subscription revenue forecast amidst economic uncertainty and slower hiring impacting demand for payroll services.
'Global interest in India encouraging for local industry': Sanjiv Puri
Sanjiv Puri, chairman of ITC, highlighted the global interest in the Indian economy at the CII Annual Business Summit 2024, emphasizing India's success in the digital economy and renewable space sector, showcasing public-private partnerships for global success.
Buffett gears up to meet investors sans Munger by his side
The meeting is Buffett's 60th since he took over Berkshire in 1965 and the first since the death of his longtime friend, business partner and foil Munger at age 99 in November.
Warren Buffett gears up to meet investors sans Charlie Munger by his side
The meeting is Buffett's 60th since he took over Berkshire in 1965 and the first since the death of his longtime friend, business partner and foil Munger at age 99 in November.
How to make most of the annual bonus: Save 56% more if you invest Rs 2 lakh in equity mutual fund than prepaying home loans
This is the time of the year when many people get their annual appraisal done and receive their hard earned performance bonus or incentives. This is a significant amount which everyone wants to make the best use of. If you have a home loan outstanding then there is always a tendency to make a partial prepayment to bring down loan outstanding. However you also have the option to invest in equity MF which can potential give good return over long term. So you need to check which option works better for you.
Buyer sentiment strong in housing segment, says Magicbricks survey
The real estate platform unveiled its flagship Housing Sentiment Index (HSI) report, reflecting a positive outlook for the residential real estate market, with an overall HSI of 149. Ahmedabad took the lead with the highest HSI of 163, closely trailed by Kolkata (160), Gurugram (157), and Hyderabad (156), driven by improved infrastructure and forthcoming real estate ventures.
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