NEW BUSINESS
New-age CEOs: India Inc's bosses adapt their qualifications to keep up with dynamic business landscape
The role of CEOs is evolving, with a shift towards more strategic thinking over traditional sales and marketing backgrounds. A recent survey highlights the importance of diverse skills in navigating complex business environments. The adoption of technologies like AI is also driving the need for strategic leadership in today's corporate world.
Prioritising India-UK ties, FTA in focus under new PM Keir Starmer
The India-UK FTA talks began in January 2022 but were stalled in the 14th round as both countries stepped into their general election cycles this year. India saw the new government in the first week and on Friday, it was the UK's. "There is no question in my mind that India will continue to be important for the new Labour government," said Rahul Roy-Chaudhury, Senior Fellow at the International Institute for Strategic Studies (IISS).
Sebi issues new guidelines to streamline operations of credit rating agencies
Markets regulator Sebi has issued new guidelines to streamline operations and enhance the ease of doing business for credit rating agencies. The circular introduces specific timelines for dealing with appeals made by companies regarding rating actions carried out during periodic surveillance of ratings.
New credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using PhonePe, Paytm
Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm.
Giant oil tankers find new business after Houthi ship attacks
Recent attacks by Yemen's Houthis have prompted oil-hauling supertankers to shift to carrying diesel, impacting global shipping routes.
Bajaj Finance Q1 Update: New loans rise 10% YoY; AUM jumps 31% to Rs 3,54,100 crore
In its quarterly update announced on Wednesday after market hours, Bajaj Finance stated that it has resumed loan sanctions and disbursals under the ‘eCOM’ and ‘Insta EMI Card’ programs, as well as the issuance of EMI cards, following the RBI's removal of restrictions on these activities on May 2, 2024.
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India's services growth picks up in June on record rise in exports
India's services sector saw robust growth in June, driven by strong demand and record export orders, according to the HSBC India Services PMI by S&P Global. The index rose to 60.5, indicating expansion. Hiring reached its highest in nearly two years, while positive sentiment dipped slightly due to market uncertainty.
New surprises before US Presidential Elections: Donald Trump's lawyers ask NYC judge to overturn hush-money conviction
Donald Trump's lawyers reportedly asked for his hush money criminal case conviction to be overturned citing the Supreme Court's recent ruling giving him immunity from prosecution for official decisions, while sitting on the President's chair. What more surprises lie in wait ahead of the US Presidential Elections, that are just round the corner?
Unveiling Unicorn Offices: A new era of boutique workspaces at Marathon Futurex, Lower Parel
Experience the dynamic environment at Unicorn Collection, Marathon Futurex, curated by Marathon Group to foster innovation and growth for entrepreneurs in a prime business district.
21-year-old Keralite splurges Rs 10 lakh on new car! Meet IAS aspirant who also runs a thriving coaching business
His YouTube channel, IAS Hub Malayalam, has attracted 2.1K subscribers. His audience comprises clerks, college teachers, IT professionals, chemical engineers, homemakers, and fellow college students. Chako was the only teacher aware of his side venture.
59% of German companies plan new investments in India this year
India is becoming a favored investment destination for German companies, with 59% planning to increase investments this year. Expectations are high, with 78% anticipating rising sales and 55% forecasting higher profits. Factors driving this trend include low labor costs, political stability, and availability of qualified specialists.
Suits & Sayings: Brewing, Brooding
ET’s roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours.
Suits & Sayings: Solo Show
ET’s roundup of the wackiest whispers and murmurs in corporate corridors and policy parlours.
Lupin enters CDMO business, names Abdelaziz Toumi as CEO of new subsidiary
Lupin, a pharmaceutical company, has launched a new subsidiary named Lupin Manufacturing Solutions (LMS) to enter the Contract Development and Manufacturing Organization (CDMO) business. Abdelaziz Toumi (Abdel), with extensive experience in biotech, pharma, and CDMO sectors across multiple continents, has been appointed as the CEO of LMS.
Lok Sabha Speaker's election on Jun 26; candidates can be proposed till Jun 25 noon
The Lok Sabha will elect its new Speaker on June 26, with notices for motions supporting candidates to be submitted by June 25. President Droupadi Murmu will address a joint sitting of Lok Sabha and Rajya Sabha on June 27.
KEC International shares jump 8% on winning order worth Rs 1,061 crore
KEC International's share price rose by 8% to Rs 829 after securing new orders worth Rs 1,061 crore. The company's YTD order intake is over Rs 3,000 crores, with a growth of 30% compared to last year.
RInfra to raise $350 mn via overseas bonds
Reliance Infrastructure plans to raise $350 million through FCCBs to repay debt and start electric power generation businesses.
Meta's WhatsApp launches new AI tools for businesses
Meta launches first AI-driven ad targeting program on WhatsApp to boost revenue. CEO Mark Zuckerberg unveils tools for businesses at a Brazil conference, shifting WhatsApp's stance on targeted advertising and enhancing customer engagement.
Delhi hotels to get busy with post-poll activity
Bookings in key hotels in Delhi are rising due to political activities involving key ministers, new MPs, and the swearing-in ceremony of the new government.
Lok Sabha results googly may unsettle Indian companies unfamiliar with coalition pitch
Post-election, certain Indian businesses face uncertainty after years of stability under Modi's single-party majority. Concerns arise about decision-making and reforms as BJP's weaker mandate shifts dynamics. Industry veterans note silence from typically vocal business leaders, who now await potential changes in the new cabinet amid speculations about Modi's altered work style.
Services activity growth eases to 5-month low in May
India's services sector output growth moderated in May, reaching its lowest level in five months, according to the HSBC India Services Business Activity Index. The index slipped to 60.2 from 60.8 in April, indicating a softening in services activities due to factors like severe heat waves and price pressures. While domestic new orders eased slightly, they remained robust, supported by strong demand conditions and successful advertising. Export demand also provided support, with new orders rising at the fastest pace in nearly a decade.
Tata Motors board okays to incorporate new wholly-owned unit
Tata Motors board approves setting up wholly-owned subsidiary TML Commercial Vehicles Ltd for commercial vehicles business.
Byju's processes employees' May salaries from business collections
BYJU'S processed employees' May salaries from business collections. Salaries paid from company's collections, highlighting financial health and debt-raising challenges. Company raised debts, implemented strategic initiatives. Investors, including Prosus, General Atlantic, Sofina, Peak XV, Tiger, Owl Ventures, approached NCLT Bengaluru.
VC funds take a shine to new gen’s D2C brands
Direct-to-customer (D2C) startups founded by scions of traditional business families are raking in venture funding across sectors like food, apparel, and wellness. Investors see these entrepreneurs' deep understanding of the business and connections in the supply chain ecosystems as a recipe for modernising legacy businesses.
Donald Trump sentence: Ex-president could face community service like trash pickup, graffiti cleanup, say experts
People are waiting for July 11, when Manhattan Court Justice Juan Merchan will sentence Donald Trump. Will he be sent to jail, get probation or be asked to do community service?
This is what it was like inside the courtroom when the Trump verdict was read
Donald Trump found guilty by a New York jury on 33 charges of falsifying business records. Courtroom sketch artist Jane Rosenberg witnessed Trump's reaction as the foreman pronounced him guilty. Judge Juan M. Merchan unexpectedly announced the verdict after planning to dismiss the jury.
Internet-based trading: Sebi reduces approval time to 7 days for brokers
Markets regulator Sebi on Thursday significantly reduced the time taken by stock exchanges for granting approval to stock brokers for internet-based trading to seven days from the current 30 days. The move is aimed at facilitating ease of doing business.
Expect LIC’s VNB margin to grow 2-3%, India embedded value to surge at least 10% in FY25: Siddhartha Mohanty
LIC Chairperson Siddhartha Mohanty highlights significant growth in India embedded value and VNB margins, aiming for further growth. Market seeks clarity on VNB margins. Expectations include a 10% increase in IEV this year. Mohanty further says that in the current year, focus will be on catering to certain segments and a specific product will be designed for those segments.
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