India Financial News

Th EU’s Carbon Border Adjustment Mechanism (CBAM) requires all EU imports to bear the same cost for each tonne of carbon dioxide (CO2) emitted as those being produced in the EU. Initially confined to six sectors—iron and steel, aluminium, cement, fertilizers, electricity and hydrogen—it will eventually expand its coverage. For India, the immediate impact is on two sectors: aluminium and steel.

Mint captures some interesting trends for you. India Inc faced headwinds in the June quarter as profits took a beating, growing at their slowest pace in five quarters. A perfect storm of factors, including higher costs, softening demand and a challenging high base dampened corporate India's spirits.

Burger King Corporation has lost a 13-year-old legal battle against its namesake eatery in Maharashtra's Pune after a district court dismissed a suit filed by the company alleging trademark infringement. Pune district judge Sunil Vedpathak, in the order on August 16, said the city-based eatery 'Burger King' was operating even before the US burger joint opened shop in India and that the latter failed to prove the local food outlet had infringed its trademark. The court dismissed the 2011 suit filed by the Burger King Corporation, seeking a permanent injunction restraining infringement of trademark, passing off (the trademark as theirs), as well as monetary damages. The suit, filed against Anahita Irani and Shapoor Irani, owners of the Pune-based Burger King food joint, also sought Rs 20 lakh as damages.

Foreign investors continued their relentless selling in the Indian equity markets in August, offloading shares worth Rs 21,201 crore due to the unwinding of the yen carry trade, recession fears in the US and ongoing geopolitical conflicts. This came after an inflow of Rs 32,365 crore in July and Rs 26,565 crore in June, data with the depositories showed. Foreign portfolio investors (FPIs) infused funds in these two months on the expectation of sustained economic growth, continued reform measures, better-than-expected earnings season and political stability.

Foxconn is working on plans to set up a Battery Energy Storage System unit in India, its chairman Young Liu said here. With an eye on the electric vehicle segment, Foxconn has been expanding its battery manufacturing business, with the first plant already set up in Taiwan. Liu told PTI that Foxconn's information and communication technology segment has just started in India. «We are also waiting to put our 3+3 future industry in India. I have been talking to the minister for industries here about how can we collaborate on BESS (Battery Energy Storage System) in Tamil Nadu...,» Liu said.

Modi has hailed late DMK President and former Chief Minister of Tamil Nadu, M Karunanidhi as a «towering figure» in Indian politics, literature and society. The late leader's efforts to promote the Tamil language and culture are still remembered by the people, Modi said in a message to Karunanidhi's son and Tamil Nadu Chief Minister M K Stalin. Stalin shared on his 'X' handle, Modi's message for the release of a commemorative coin on the occasion of Karunanidhi's centenary on Sunday by Defence Minister Rajnath Singh. The CM thanked Modi.

shoemaker Bata expects a revival in coming quarters, helped by festive season demand and retail expansion, according to its India Managing Director and CEO Gunjan Shah. The company expects e-commerce, which is now a «profitable» and «viable» business, to be its growth driver as it has been expanding online sales through its portal and channel partners. Besides, Bata as part of its strategy to attract new generation buyers is also investing in store renovations to become more appealing and trendy and in new relevant products with affordable propositions to increase its play further. Young buyers account for around 40 per cent of its transactions. Moreover, it would also expand its apparel range to 200-plus stores from 70 stores at present. It will also add 13 exclusive outlets of its athleisure Brand 'Power' to take the total count to 15 by the end of 2024, said Shah.

Olympics, wrestler Vinesh Phogat said that her fight against the Wrestling Federation of India (WFI) would continue and hoped that «truth will prevail». Hundreds of supporters had gathered outside the IGI airport here on Saturday to give a rousing welcome to Vinesh who was disqualified for being overweight after reaching the 50kg final at the Olympics. Vinesh's appeal against her disqualification was rejected by the ad-hoc division of the Court of Arbitration for Sport (CAS). On her way to Balali from Delhi, Vinesh was felicitated by her supporters and khap panchayats in several villages as it took her almost 13 hours to cover 135 kms.

Bengaluru police have taken action against 44 individuals for a recent video where they are seen performing a reckless scooter stunt on a busy road in India's IT capital during daytime. «Wheeling on city roads? Our officers are always ready to bring your adventure to a halt,» said Bengaluru City Police while sharing a video of the individuals performing the stunt. Along with the video, the police informed that action had been taken against 44 for the wheeling incident.

India will need around 1 lakh company secretaries by 2030 amid rising economic growth and increasing focus on good governance, according to the company secretaries' apex body ICSI. Currently, there are more than 73,000 company secretaries and out of the total, around 12,000 are practising company secretaries. Company secretaries play a key role in the corporate governance framework in ensuring compliance of companies with various statutory requirements. Institute of Company Secretaries of India (ICSI) President B Narasimhan said there has been a paradigm shift in the way the country's economy is perceived today and company secretaries have essentially become a significant linchpin in making India one of the most preferred investment destinations of the world.

TVS Motor Company plans to expand the sales of its electric vehicles to both developing and developed markets, betting big on India's potential to emerge as a major export hub for electric two-wheelers, according to Director and CEO KN Radhakrishnan. The company will leverage on its plant in Indonesia to cater to other neighbouring markets in the ASEAN region, where it has started selling its electric scooter TVS iQube last year, he told analysts. In the first quarter of this fiscal TVS Motor Co sold a total of 52,000 units of electric two-wheelers, as against 39,000 units in the same period last year. «We strongly believe that India will emerge as a major export hub for two-wheeler EVs. With the continuous improvement in the EV supply chain and infrastructure, we are confident that we will continue to be a strong player in the EV segment,» Radhakrishnan said.

Manu Bhaker, who made history as the first Indian to win two medals at a single Olympic Games since independence, also carries a tattoo that reads "Still I Rise." Interestingly, she discovered this phrase on Pinterest following her disappointing pistol malfunction at the 2021 Tokyo Olympics. In an interview with the Times of India, Manu revealed, «I don't know whose words these are, but now they are mine.» This phrase is inspired by Maya Angelou’s iconic poem, «Still I Rise,». The lines, «You may write me down in history with your bitter, twisted lies, you may tread me in the very dirt, but still, like dust, I’ll rise,» have been a beacon of hope and strength for countless individuals worldwide. After Tokyo, where Manu faced harsh criticism and even lost her spot in the national squad for the 10m air pistol event, Manu felt the need for a constant reminder to stay resilient. In January 2022, she decided to get the words «Still I Rise» inked on the back of her neck—a place where the tattoo would be symbolic.

If you’re in India and looking for a prepaid plan that includes free Netflix, your options are limited to three major telecom operators: Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi).

Cricket Council (ICC) announced the match schedule on Sunday for the upcoming ICC U19 Women's T20 World Cup 2025 in Malaysia. Sixteen teams from around the world will take part in the 41-match event where the future stars of women's cricket will announce themselves over 15 days of competition from 18 January to 2 February 2025. Over and above these exciting matches will be 16 warm-up fixtures played from 13 to 16 January, in preparation for the main event, as per the ICC. The second edition of this exciting tournament comes on the back of a successful inauguration in South Africa in 2023 where India beat England by seven wickets in a thrilling final to be crowned the first-ever winners. It will also be the hosts, Malaysia's first appearance in the U19 Women's T20 World Cup as well as Samoa's first appearance in an ICC World Cup event.

India's holding of US government securities touched a high of USD 241.9 billion in June as the country continued to increase its exposure for the third straight month. Japan was the top holder with securities worth over USD 1.11 trillion followed by China at the second spot with a holding valued at USD 780.2 billion in June, according to the latest data released by the US Treasury Department. At the third place was the United Kingdom with an exposure of USD 741.5 billion ahead of Luxembourg at the fourth position with a holding to the tune of USD 384.2 billion. Among the countries and jurisdictions, India was at the 12th place owning American government securities worth USD 241.9 billion in June, higher than USD 237.8 billion value recorded in May.

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Bharat Petroleum Corporation plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of petrochemicals and green energy, its chairman G Krishnakumar has said. Bharat Petroleum Corporation Ltd (BPCL), currently, owns about 14 per cent of India's oil refining capacity and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of 'Project Aspire' — its five-year strategic framework that is based on two fundamental pillars — 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. «Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing petroleum products and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital.

flight attendant was assaulted by an intruder in her London hotel room earlier this week. The incident occurred at the Radisson Hotel London Heathrow, shortly after midnight. The flight attendant, who was resting after her duty, was attacked around 1:30 a.m. by the intruder. Startled by the attack, she screamed for help, which alerted her colleagues in nearby rooms. They rushed to her aid, causing the assailant to flee, but he was eventually apprehended. The victim, who sustained bruises during the assault, was taken to a hospital for treatment. She has since returned to India, where she is receiving counseling, according to an official statement. An Air India spokesperson confirmed the incident, saying, «We are deeply anguished by an unlawful incident of intrusion at a hotel, operated by a major international chain, that affected one of our crew members. We are providing all possible support to our colleague and their broader team, including professional counselling. Air India is also working with the local police to pursue the matter to the fullest extent of the law, and with the hotel management to ensure such incidents are not repeated.»

Nifty managed to end with 1% gains in the holiday-shortened week, led by IT and consumer durables. When markets resume trading on Monday, a host of important domestic and global events lined-up during the holiday-truncated week are likely to impact them. On Friday, Nifty ended with an uptick of 400 points or 1.7% at 24,541.

Rajesh Rawani, a truck driver from Jamtara, Jharkhand, has spent 25 years navigating India's vast roads. While he took up trucking to support his family, his true passion has always been cooking—a hobby that has unexpectedly turned him into a YouTube sensation. With over 1.86 million subscribers and a new home funded by his YouTube earnings, Rajesh's life has taken a remarkable turn. His inspiring story caught the attention of business tycoon Anand Mahindra, who featured Rajesh in his ‘Monday Motivation’ series on Twitter after watching one of his videos. Despite his newfound fame, Rajesh remains a grounded individual. He starts his day at 4 a.m., regardless of how late he went to bed, rarely sleeping more than 2-4 hours a night. Born into a family of truckers, Rajesh's father was also a driver and the sole provider for their family of five, sending home just Rs 500 a month for all their expenses. Despite these humble beginnings and limited education—Rajesh only studied up to the fifth grade—he has driven trucks across India, from Maharashtra to Chhattisgarh, and even to Bhutan.

Kaushik Basu on Saturday said India needs to tame inflation that disproportionately affects people who spend a large chunk of their income on food and could exacerbate inequality. «Even if inflation is at 5.1%, food inflation is at 30%. For someone spending 50% of their income on food, that 30% food inflation is hitting them significantly harder despite government programmes like PM Gareeb Kalyan Yojana providing some relief,» Basu said at a Delhi School of Economics event to mark its 75 years of existence. Basu, who served as the chief economic advisor to the central government under the United Progressive Alliance regime, also underscored the importance of the next 10-15 years for lower middle-income category countries such as India to unleash the demand for labour.