City Mumbai Financial News

MUMBAI : At the annual campus hiring ritual at the Indian Institutes of Technology (IITs) this year, the rather ubiquitous profile of product manager stood out but with a more evolved job definition. Software companies, consultancies, consumer firms and startups prowled premier engineering and business schools for potential product managers who can go beyond the traditional requirements of the role.

Impresario Hospitality & Entertainment, which owns restaurant brands like SOCIAL, Smoke House Deli and Boss Burger, is planning to go public in the next two to three years, according to its managing director, encouraged by the growth in the casual dining restaurant segment. The Mumbai-based food company also plans to increase its restaurants count to 100 in the next two to three years, with a revenue target of '1,000 crore by FY26, Riyaaz Amlani, Impresario's MD, told ET. While India's quick service restaurant (QSR) segment has multiple listed firms, including Devyani International, Sapphire Foods and Burger King India, the casual dining restaurant (CDR) space has only a few.

MUMBAI : The Union finance ministry has rectified the agenda of a parliamentary committee meeting scheduled for early next year, putting an end to speculation of a potential merger of public sector banks—UCO Bank with Union Bank of India, and Bank of India with Bank of Maharashtra. In a letter addressed to, among others, the bank chiefs of the four PSU banks and Reserve Bank of India governor on Thursday, the finance ministry said that the members of the parliamentary committee would hold informal discussions with UCO Bank and Union Bank, besides Bank of India and Bank of Maharashtra, over the “regulatory mechanism in post-merger scenario".

MUMBAI : Pushed back by a lull in private sector investments, India’s state-owned banks continued to lose market share in loans to private rivals, showed data from the Reserve Bank of India (RBI). The loss in market share was visible in deposits too. The share of public sector banks in deposits shrunk 119 basis points (bps) between March and September 2023.

Bank of Maharashtra, and Union Bank and UCO Bank. According to a report by Reuters citing the document, a parliamentary panel will hold discussions with the four government-owned banks early next year under banking laws which among other things govern mergers and acquisitions. The informal discussions will be held with representatives of UCO Bank and Union Bank of India on January 2, 2024, and between Bank of Maharashtra and Bank of India on January 6, 2024 in Mumbai and Goa.

Narendra Modi on Sunday inaugurated the Surat Diamond Bourse, which will have facilities like international banking, safe vaults, jewellery mall and create about 150,000 new jobs, during his visit to Gujarat. He also inaugurated the new terminal building of Surat Airport, which can handle 1,200 domestic passengers and 600 international passengers. Constructed in 6.7 million square feet, the Surat Diamond Bourse will be the largest office space in the world.

Moneycontrol quoted independent surveys as saying. According to No Broker's Real Estate Report 2023 and consultancy firm Anarock, Bengaluru’s prominent areas soared by over 30 percent in 2023.

Sajjan Jindal on Sunday issued a statement responding to the Mumbai police FIR in alleged rape case, reported ET NOW. He has called the allegations “false and baseless” adding that he is committed to providing full cooperation throughout the investigation.

The Indian wealth management business is expanding and offers both domestic and international players a sizable opportunity. Fintech players, however, are posing greater threats to established businesses with their product, pricing, and digital differentiation, intensifying the competitive environment. Players in the wealth management industry in India would need to react both strategically and creatively to be able to compete in a market that is rife with rising client expectations for individualized goal-oriented services and digital experiences.

Nirupesh Joshi and Mercy Amalraj were high-flying technology consultants, earning handsomely, with successful stints in Boston, Seoul and Hong Kong until 2018. One fine day the couple gave it all up, got into entrepreneurship in an entirely alien area: the world of mechanical watches the couple had all along been fascinated by.They landed in Bengaluru, the ground-zero of wrist watches and startups. “A watch carries memories through generations.

automobile sector took off in 2009 when Tata Motors set up its Nano manufacturing plant in Sanand, about 50 km from Ahmedabad, and the state has been attracting some big ticket investments from both domestic and international players since then. Now, with the global shift tending towards electric mobility, the Gujarat government seeks to position itself as a leading electric vehicles (EV) manufacturing hub. To this effect, it signed an MoU with the Tata Group worth Rs 13,000 crore in June this year.

Lupin have recalled their products in the US market over manufacturing issues, as per the US Food and Drug Administration (USFDA). Mumbai-based Sun Pharmaceutical Industries is recalling 96,192 bottles of Liothyronine Sodium Tablets in the US that are used to treat an underactive thyroid. The company is recalling the lot due to "failed impurities/degradation specifications", the USFDA stated.

Christmas in Mumbai is when you see nuns buying dried fruit at Crawford Market. Like many other Christmas cake bakers, they clearly believe that the best-dried fruit, in quality and value, is still found among the vendors here. Dried fruit is intrinsic to Christmas, whether in cake, pudding or mince pies, where ‘mince’ means chopped-up dried fruit.

Sharad Pawar on Saturday heavily criticised the setting up of Surat Diamond Bourse noting that it might cause loss of employment for lakhs of people in Maharashtra. "Those who are in power today do not have the power to think about the country. The Prime Minister will inaugurate the diamond business in Surat.

Easy Upgrade Plan, starting at just Rs.7,990. Embrace the future while always being upgraded at a minimal cost valuable with a honest 84.7% buyback value for your old device, making your upgrade even more easy and affordable. If you own an iPhone worth approx.

NEW DELHI, MUMBAI : The ministry of steel has begun consultations with domestic producers to explore strategies for reining in imports as these have exceeded exports from India, the world’s second-largest producer of the alloy. India imported 4.3 million tonnes of steel between April and November this year, as against exports of 4 million tonnes, becoming a net importer of the alloy. Experts attribute the shift in the trade balance to low international prices of steel and higher domestic prices, which not only made imports viable but also inhibited exports.

visa-free destinations as their ideal choice of international destination. As per MakeMyTrip, countries that removed visa requirements for travelers from India have seen over 30 percent positive uptick in terms of searches and bookings. Ahead of the Christmas vacation, several Asian countries including Malaysia, Thailand, Vietnam, Sri Lanka have recently announced that they are implementing visa-free entry for visitors from India and other countries.

Zee Entertainment Enterprises Limited (ZEEL) and Culver Max Entertainment (formerly known as Sony Pictures India), according to a Moneycontrol report. It was hearing an appeal by Axis Finance and IDBI Bank who have challenged the merger in the tribunal. The next hearing has been listed for January 8, 2024.

Central Bureau of Investigation (CBI) has submitted a list of 23 witnesses it would not be examining against former media executive Indrani Mukerjea and other accused in connection with the killing of her daughter Sheena Bora. The agency in the list, submitted to a special CBI court here on Thursday, that includes Mumbai's former police commissioner Rakesh Maria and other police officials said they would not be examined in the trial as they were «unrelied witnesses». Indrani and her two former husbands — Peter Mukerjea and Sanjeev Khanna — are accused of being involved in the killing of Sheena Bora, Indrani's daughter from her first relation.

Crompton Greaves, listed as CG Power and Industrial Solutions, has entered into an agreement with realty developer K Raheja Corp to jointly develop its headquarter CG House spread over more than an acre in Mumbai’s plush Worli locality. The headquarter of the company, which is engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution & rail Transportation, is built on leasehold land. As per the term sheet signed by both the companies, the developer will be granted rights to develop the land parcel by demolishing the existing structure and thereafter constructing thereon one or more buildings. The exact development potential will be elaborated under the development agreement based on the regulatory guidelines. The development agreement is expected to be signed within 45 days of the execution of the term sheet or such extended period as may be agreed, CG Power and Industrial Solutions said in a regulatory filing. CG Power and Industrial Solutions and the developer will be entitled to 50% share of the leasehold right and the developed building.

Lalit Jha, the fifth accused and mastermind in Parliament security breach case, has burnt the mobile phones of his associates along with his friend Mahesh after fleeing to Rajasthan's Kuchaman, said police sources. Ahead of the incident, all four accused had handed over their mobile phones to Jha so that crucial investigation details cannot get into police hands as they were anticipating their arrest. In Kuchaman, Jha met his friend Mahesh, who got him a room for the night. Both of them had met through Facebook, as revealed by Jha during his interrogation. However, Delhi police are verifying all the claims made by Jha.