India Financial News

Container Port Performance Index (CPPI), developed by World Bank and S&P Global Market Intelligence, measures the resilience, efficiency and overall performance of the Ports. While Visakhapatnam Port made it to the top 20 ports of the World at 19 in 2023, Mundra Port also climbed up the index at 27 in the current ranking. According to the statement, Visakhapatnam Port has showcased strong performance with 27.5 moves per crane hour, a turnaround time (TRT) of 21.4 hours, and minimal berth idle time. These metrics highlight the port's efficiency in handling container ships and significantly influence customer preference.

EU’s recently passed regulation, Ecodesign for Sustainable Products Regulation (ESPR) will lead to high costs and hurt exports from developing countries, economic think tank Global Trade Research Initiative (GTRI) said Wednesday. The ESPR mandates that imported products meet stringent sustainability standards, including a Digital Product Passport for traceability. ESPR will cover all products by 2030 but would begin with regulating items such as textiles, furniture, mattresses, tyres, detergents, paints, lubricants, iron and steel from January 2026. “ESPR will lead to high costs of products because of changes needed in production processes. Since most products covered are consumer products, the price rise may lead to inflation in the EU,” GTRI said.

India's health system preparedness and capacity to respond to future pandemics. The Strengthened and Measurable Actions for Resilient and Transformative Health Systems will support the government's National Health Policy 2017, which aims to provide quality health care services to all, ADB said in a statement. This policy-based loan will help fill the gaps in policy, legislative, and institutional governance and structures and contribute to India's goal of providing universal access to quality and affordable healthcare services to strengthen pandemic preparedness and response, it said. The programme will strengthen disease surveillance systems to effectively respond to public health threats, it said.

Union Cabinet on Wednesday approved India’s 13th Major Port worth Rs 76,220 crores at Vadhavan in Maharashtra. The crucial project got a nod during the first meeting of the Union Cabinet after ministers were assigned portfolios last week. Speaking to ET, Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal said, “This is the first major infrastructure project of the third term of Prime Minister Narendra Modi as it ends the hiatus of major port development of more than two decades since then PM Atal Bihari Vajpayee inaugurated Kamarajar port at Ennore in 2001.” Major Ports are those which are governed by the centre. They comprise roughly 61% of India’s entire cargo 2604.99 million tonne per annum (MTPA) handling capacity. The remaining is with non-major ports that are under the administrative control of state governments.

Som Group distillery and temporarily suspending the plant's manufacturing licences after the federal child rights agency found 59 children working at the site illegally. Police launched an investigation into Som after the National Commission for Protection of Child Rights (NCPCR) last week found 39 boys and 20 girls working at the factory. The agency also released photos of children's hands it said showed burns due to contact with chemicals. «We have sent the police force to ensure there are no issues during the sealing process,» Vikas Kumar Shahwal, a senior Madhya Pradesh police official, told Reuters.

ice cream brand Go Zero has raised $1.5 million from existing investors DSG Consumer Partners, Saama Capital and V3 Investors. The funds will be used to boost growth in the quick commerce and ecommerce sectors, as well as to expand operations into tier-I cities like Jaipur, Chandigarh, and Ahmedabad.

Labour Force Survey (PLFS) from quarterly urban unemployment data to monthly, and the quarterly release of the rural employment data, which is released annually at present. Revision of the base year of gross domestic product (GDP) and inflation is also being discussed, officials said. The ministry of statistics and programme implementation (MoSPI) is looking at ways to use technology to make the process more efficient and faster as it aims to reduce time lags and improve the frequency of data availability. “We are trying to reduce the time period between surveys…some can be made quarterly and monthly going ahead which are annual right now,” said Saurabh Garg, secretary, MoSPI at the data user workshop on Household Consumption Expenditure Surveys (HCES) for 2022-23 Wednesday. As per the survey, consumption inequality has declined over the last decade with the share of top 10% households in consumption declining.

Information & Broadcasting Minister Ashwini Vaishnaw while announcing the decision said, «Union Cabinet has taken a landmark decision by approving India's first offshore wind energy project. These will be 1GW offshore wind projects, 500 MW each (off the coast of Gujarat and Tamil Nadu). This is a big opportunity for India.» The successful commissioning of 1 GW offshore wind projects will produce renewable electricity of about 3.72 billion units annually, which will result in annual reduction of 2.98 million ton of CO2 equivalent emission for a period of 25 years, as per the govermnet.

Semiconductor companies in India are accelerating their focus on campus engagement and building up fresh talent, even as the industry struggles with a lack of skilled professionals. Companies like Intel India, AMD, Applied Materials and Tessolve are teaming up students and employees to work on real-life projects, establishing labs in institutes like IIT-Bombay, driving industry-academia partnerships to conduct research in core design and AI training and sponsoring students pursuing research. Last month, AMD India launched a summer scholar programme for engineering graduates, under which 14 students from the Indian Institute of Science and the IITs of Madras, Bombay, Hyderabad, Kharagpur and Delhi are undergoing a 6-to-8-week residency programme at the company’s India R&D centres.

Axis Bank on Wednesday increased its holding in Max Life to 19.99 per cent for Rs 336 crore. The acquisitions, divestments and merger Committee of the board of directors of the bank at its meeting held on June 19, 2024, has approved a proposal for acquisition of additional equity shares of Max Life by the bank for an amount of up to Rs 336 crore, Axis Bank said in a regulatory filing. With this, the aggregate shareholding of Axis Entities increased from 19.02 per cent to 19.99 per cent, it said.

Bank of Maharashtra is likely to raise up to Rs 1,000 crore through the issuance of 10-year tier-II bonds at the end of June as the state-owned lender looks to garner long-term funds at a time when credit growth is stronger than deposit growth. The bank’s bond issuance is likely to have a base size of Rs 250 crore and a greenshoe option worth Rs 750 crore, market sources said.

Vedanta Ltd is planning to spend $5 billion over the next decade as it looks to cut its carbon emissions by a fourth by 2030. The natural resources major eventually aims to be net neutral on carbon emissions by 2050. It will have 2.5 GW of renewable energy round-the-clock by 2030, of which 838 MW is currently under construction. The company is also targeting decarbonizing its complete light motor vehicle fleet by 2030, and three-fourth of its mining fleet by 2035, it shared in its annual report for 2023-24 (Apr-Mar). Last year, the company has invested $210 million on decarbonisation, and 7% of its light motor vehicle fleet was decarbonized. The company aims to achieve 50% decarbonization by the end of the current fiscal.

AGS Transact is looking to raise Rs 200 crore to expand its operations. While the promoter group, led by founder Ravi Goyal, will invest Rs 150 crore the remaining will be brought in by non-promoter investors led by marquee high networth individuals including Ayush Mittal, Ashit M Mehta and Rajiv Mehta. In an exchange filing the company had said that its board of directors had approved fund raise by way of preferential warrants to promoter and promoter group along with Non-Promoters at a price of Rs. 79.25 per share.

Reserve Bank of India net sold $3.6 billion in the foreign exchange market in April — marking the first net dollar sale in four months — as escalating tensions in the Middle East likely prompted the central bank to intervene in the market to curb volatility in the rupee’s exchange rate. Latest RBI data showed that on a gross basis, the central bank sold $11.65 billion in the currency market in April while making purchases worth $8 billion.

digital lending platform Supermoney has raised $3.4 million (Rs 28.6 crore) in a funding round led by Capital 2B and Capria Ventures. The funds will be used to expand the company’s loan disbursement activities and improve operational efficiencies by leveraging technology.

Read more about the Lifestylesection on the Top Trending Productspage. Read about the Best T-Shirts for Men under 1500 in India below. 1. Allen Solly Men's T-Shirt Made from 100% cotton, the Allen Solly Men's T-Shirt ensures comfort and breathability throughout the day. It features a regular fit that makes it suitable for all kinds of body types and occasions. It features half sleeves which makes it ideal for casual wear but you can also pair it with semi-formals. Its collared neck ensures to help you pair it well with a semi-formal look. It is manufactured in India by ABFRL (Aditya Birla Fashion and Retail Ltd), ensuring local production standards. Special Features: Colours: Available in Light Green, Blue, Grey, Mustard, Navy Blue, Purple, White, and Lavender. Material: Cotton blend with a solid pattern. Design: Regular fit, half sleeves, classic collar. Quality: Customers appreciate its comfort, fit, and durability. Buy

Bajaj Electricals, a part of the Bajaj Group, saw its shares climb steadily over the last four years, climbing from ₹229 to the current level of ₹1,050, marking a substantial gain of 358%.Over the last eight years, the stock has delivered even stronger returns to investors, with an increase of 430%. Looking ahead, HDFC Securities, a domestic brokerage firm, anticipates that the company is well-positioned to capitalise on anticipated improvements in demand, suggesting the continuation of the stock's upward trend.The company holds a prominent position in India’s fast-moving electrical goods (FMEG) segment, boasting a legacy spanning over eight decades.

This partnership allows the bank to measure the carbon emissions from each foundED event using Climes' carbon neutral event calculator. Once the emissions are calculated, DBS Bank India will neutralise them by encouraging event attendees to select the carbon avoidance and removal projects they want the bank to support.

Mint. Watch This: Sudden Rise of Cybercrime in India: Mint Explains A dark pattern is a trick used in website or app design to make users do things they didn't plan to do, like signing up for unwanted subscriptions, buying extra items, or sharing personal information.

IndiGo on Wednesday announced that all international flights operating from Chaudhary Charan Singh International Airport in Lucknow will arrive and depart from the newly built terminal 3, starting today. The low-cost carrier has taken «proactive measures to ensure that passengers are well-informed about this change.» The airline is reaching out to all passengers and their respective travel agents through SMS, calls, and emails, it said in a press release. To avoid any inconvenience, IndiGo has advised passengers to retrieve their PNR on the airline's website or mobile app to check their terminal before heading to the airport.

GDP ratio is at an all-time high level, valuations are not at an all-time high, Dalal Street’s veteran stock picker Nilesh Shah said at AIF & PMS Conclave 2.0 on Wednesday. “Valuations are not at all-time high. They are still reasonably valued or one can say they are little expensively valued but critics will agree that it is not very expensive and optimists will agree that it is not very cheap. We are in the middle,” Shah said at the virtual conclave.