India Financial News

Fortune Hotels, a member of ITC's hotel group, is planning to open a new hotel every month in the current financial year, the company's Managing Director Samir MC said on Wednesday. In an interview to PTI, Samir shared the expansion plans of Fortune Hotels, which has just opened its first international hotel — Fortune Resort & Wellness Spa Bhaktapur — in Nepal. He described it as a significant milestone in the company's «beyond borders» expansion strategy, envisioning its presence in South Asia and proximal markets. «Following on the heels of this prestigious opening, we are poised to open at least four to six more hotels in the first half of the fiscal year in unique destinations like Kevadia (Ekta Nagar, Gujarat), Candolim (Goa), Palampur (Himachal Pradesh), and a beach resort in Chennai amongst others and an equal number in H2 (second half: October-March),» Samir said.

India needs to address the quality issue with regard to its spice exports with urgency and transparency as the ongoing quality concerns could threaten over half of the country's spice shipments, a report said on Wednesday. Economic think tank Global Trade Research Initiative (GTRI) said that every day new countries are raising concerns about the quality of Indian spices. This issue demands urgent attention and action to uphold the storied reputation of India's fabled spice garden, it said. «With nearly USD 700 million worth of exports to critical markets at stake, and potential losses soaring to over half of India's total spice exports due to cascading regulatory actions in many countries, the integrity and future of India's spice trade hang in delicate balance,» the report said.

₹7.5 trillion on education every year. There are frequent calls to double this number if the education system is to be fixed. Overcoming the myriad problems in areas such as education, health, nutrition, safety, justice and social protection needs more than higher public spending.

Telecom regulator to revive talks on spectrum allocation “The courts had to be informed and the application has been disposed of. The government will not go back to the Court," the person said.

—Name withheld on request Your plan to step up the SIPs every year to build a downpayment corpus is good as you would have been able to reach around ₹44-48 lakh with the present monthly investment of ₹40,000 per month for the next 6 years, if we assume an annual return of 10-12%. To cover the difference amount, a step-up strategy will be quite effective. Assuming the same rate of returns, you need to increase your SIPs by 35-40% every year.

NEW DELHI : Short-video platforms such as ShareChat, Chingari and Instagram Reels are immensely popular in India's small towns and non-metro cities, where users spend more than half an hour a day watching content on travel, food, and festivals. A recent Ficci EY report has captured these trends on content consumption, geographical concentration of the audiences, and their demographic profile.

Mint takes a closer look at the importance of good governance practices at startups. Over the past few years, mainly after the pandemic, the startup world has been rocked by several scandals, many of which involved inappropriate behaviour by founders. Given that India has the world’s third-largest startup ecosystem with more than 1.10 lakh such companies, without proper regulation there could be many more such scandals in future.

BJP periodically repeats is that Mahatma Gandhi sought the abolishment of Congress, which sparked debates in 2017, 2019, and 2023. On Wednesday, Rajnath Singh said, "Mahatma Gandhi said that soon after Independence, the Congress should be abolished.

Kolkata port as they eye a new Master Ship Repair Agreement (MSRA) that will allow US warships to access repair services at the port, according to persons aware of the matter. This is part of attempts by New Delhi and Washington to make India a major hub for maintenance and repair of US Navy ships in the Indo-Pacific. Ehe US navy signed MSRA deals with Larsen and Toubro as well as Mazagon Dock Shipbuilders Ltd last year.

Global investors are unwinding bets on local-currency bonds as some emerging-market central banks come under pressure to raise interest rates — rather than cut them as widely anticipated just weeks ago.

spinners in India's T20 World Cup squad suggest that the Indian selectors are expecting slow turners in the Americas but have they missed a trick by picking only three pacers in the final 15? Also questionable is the choice of pacers. Before the IPL began, Jasprit Bumrah was the lone certainty in the pace department while the other contenders had to prove themselves in the league. As it turned out on Tuesday, the selectors chose to play safe and picked Mohammed Siraj and Arshdeep Singh to support the one-of-a-kind Bumrah in the ICC event beginning June 1.

The Directorate of Enforcement (ED) of India, has seized a major crypto money laundering case connected to a gaming app. The authority also seized frozen crypto assets worth ₹90 crore ($10 million) in connection with the scam.

Supam Maheshwari, cofounder and CEO of IPO-bound mother and childcare e-commerce platform FirstCry, saw a 49% drop in monthly remuneration to Rs 8.61 crore for the first nine months of FY24, according to the company’s draft red herring prospectus (DRHP). Maheshwari's total remuneration for the nine months until December 31, 2023, was Rs 77.5 crore, down from Rs 200.7 crore for the whole of FY23.

Chinese smartphone brands are roping in services of Reliance Retail’s distribution arm to reach retail stores in the hinterlands. Xiaomi sub-brand Poco recently roped in Jio Mart Digital (JMD), through a strategic partnership to distribute Poco devices to over 80,000 retail stores across the country, according to industry executives and retailers. The move comes amidst the offline retail channels claiming over 61% of sales in Q1 2024, according to preliminary estimates from Counterpoint Research, up from 56% the previous quarter. Samsung and Vivo have the strongest hold over offline retail, the research firm said, adding that Xiaomi and Transsion were the fastest growing in Q1 2024.

The BSE smallcap index, which is a gauge for smallcap stocks’ performance, rallied nearly 10%, while the midcap index jumped over 7%. This compares with a 1% rise in the BSE Sensex.

Securing the future of both women and their families hinges significantly on the pivotal role of health. In the diverse tapestry of India, women adeptly navigate the intricate balance between their professional aspirations and familial responsibilities, epitomising resilience and adaptability. 

Congress today released a video featuring Rahul Gandhi discussing chess, captioned «Just like in chess, Rahul Gandhi stays ahead of the game, always thinking several moves ahead!». In the video, Rahul Gandhi shares insights about his relationship with the game, mentioning that he began playing at the age of seven. When asked about what he enjoys about chess, Rahul highlights one of its intriguing aspects: as players improve, opponent pieces can start to operate almost like their own. Thus, players must consider not only their own pieces but also those of their opponent, recognizing that sometimes the opponent's pieces can serve their strategy. He also reveals Gary Kasparov as his favorite chess player due to his non-linear thinking.

Pushpa 2: The Rule' is set to drop today, May 1, at 5:04 PM across multiple languages including Telugu, Hindi, Tamil, Kannada, Malayalam, and Bengali. Following the recent teaser release, which heightened excitement among fans, the makers announced the launch of the track 'Pushpa Pushpa' alongside a striking new poster featuring Allu Arjun. Allu Arjun himself took to Instagram stories to share the poster and the announcement of the first track. In the newly unveiled poster, Allu Arjun exudes fierceness as he makes his entrance. Donning a black ensemble, his presence commands attention. The 'Pushpa Pushpa' track is composed by the renowned Devi Sri Prasad, affectionately known as DSP. The teaser of 'Pushpa 2: The Rule' featuring Allu Arjun as Pushpa Raj was recently revealed on the superstar's birthday, adding to the celebratory fervor. Expressing his gratitude for the birthday wishes, Allu Arjun shared the teaser on Instagram, thanking his fans for their overwhelming support.

Violent clashes erupted on Wednesday on the campus of the University of California in Los Angeles (UCLA) between pro-Palestinian protesters and a group of counter-demonstrators, according to live video coverage provided by a U.S. broadcaster. The UCLA student newspaper Daily Bruin said supporters of Israel had tried to tear down a pro-Palestinian protest encampment on the campus Police were responding to UCLA Chancellor Gene Block's request for support, Zach Seidl, Los Angeles Deputy Mayor of Communications, said on X.

Godrej clan with tangled cross-holdings in dozens of industries has proved with a harmonious split of business between the two branches of the family. When it's routine for heritage business families to fight tooth and nail over division of assets and businesses, the Godrej family is splitting its business, what it calls «realignment», in an exceptionally amicable manner. Adi Godrej and his brother Nadir will keep Godrej Industries that has five listed firms, while their cousins Jamshyd and Smita, who too are siblings, getting unlisted Godrej & Boyce and its affiliates as well as a land bank in Mumbai. Also Read: Godrej family seals terms of division; Nyrika Holkar, Pirojsha Godrej emerge key next generation leaders

Congress on Wednesday reiterated its 'Shramik Nyay' guarantees on International Labour Day, and said its promise of Rs 400 per day national minimum wage is the real '400 paar'. Congress general secretary Jairam Ramesh listed the party's guarantees for labourers and alleged that the past 10 years have been of 'anyay kaal' for them. On the occasion of International Labour Day it is most appropriate to recall the 'Shramik Nyay' guarantees in the Congress Nyay Patra for the 2024 Lok Sabha elections, he said. Elaborating on the guarantees, Ramesh said the Congress has promised 'Shram ka Samman' (Dignity for Labour)' with Rs 400 per day national minimum wage, including for MGNREGA.