India Financial News

Change in trade route: Container ships routing through the Suez Canal are shunning and rerouting around the Cape of Good Hope. By the first half of February 2024, container tonnage crossing the Canal fell by 82 per cent, and vessel tonnage passing through the Cape of Good Hope increased by 60 per cent. • Increase in the distance and operational shift due to rerouting of ships: The extra miles travelled and days lost due to trade diversion has translated into additional costs such as fuel costs and lost value of time-sensitive cargo.

Arvind Kejriwal arrest news: Aam Aadmi Party (AAP) has announced that they will gherao Prime Minister Narendra Modi's residence at Lok Kalyan Marg on 26 March. AAP will not celebrate Holi this year, the party's Delhi convenor Gopal Rai said on Friday. Addressing a press conference in national capital Delhi, Gopal Rai alleged that MLAs and councillors of the Aam Aadmi Party (AAP) were stopped from meeting the family members of the Delhi chief minister, who was arrested by the ED in an excise policy-linked money-laundering case on Thursday.

Jairam Ramesh on Friday rejected the BJP's claims that the 2024 poll results are a foregone conclusion, saying «tiger mein abhi bahut jaan hai» and the opposition bloc will repeat the history of 2004 when the saffron party was unseated from power despite its 'shining India' campaign. The Congress general secretary in-charge communications also said his party is going into the Lok Sabha polls with its «five nyays» and «25 guarantees», and has full confidence that the opposition INDIA bloc will get a clear mandate. In an interaction at the PTI office here, Ramesh also said the Congress' guarantee is not of one person but of the party and its «ghoshna patra (manifesto)» will be called the «nyay patra» which will focus on Yuva Nyay, Nari Nyay, Shramik Nyay, Kisaan Nyay and Hissedari Nyay and the 25 guarantees under these. Asked if the polls will be about «Modi ki Guarantee» versus the Congress' «nyay» guarantees, he said, «Our guarantee is not of one person. We are giving the Congress guarantee and are giving these guarantees on the basis of our experience.»

AAP leaders, including its national organisation secretary Sandeep Pathak, Punjab Chief minister Bhagwant Mann and Delhi ministers Atishi and Saurabh Bharadwaj, are likely to grow within the party after its supremo Arvind Kejriwal's arrest weeks ahead of the Lok Sabha polls. The prospect of the Delhi chief minister's wife, Sunita Kejriwal, who has so far maintained a distance from politics, assuming a new role is also being discussed by people. In a post on X, Sunita Kejriwal said on Friday that her husband always stood with the people of Delhi and his arrest was a betrayal with them.

Orion India, the India arm of South Korea’s confectionery maker Orion Holdings, is doubling down on its local portfolio of snacking products which include Choco Pie dessert snack and Turtle chips, the company’s managing director Saurabh Saith said. The company, which entered India five years back, is expanding capacity at its existing manufacturing plant in Rajasthan, and adding new snacking products to respond to demand surge, Saith said. The snacks maker has signed actor Palak Tiwari to endorse its Turtle Chips franchise in India. The rising popularity of Korean foods has led to large brands extending their portfolio to Korean brands, including Nestle which extended Maggi to Korean BBQ noodles in recent months and ITC which expanded its portfolio of Bingo chips to include Korean variants last week.

Renault Nissan Automotive India Pvt Ltd on Friday said it has received Platinum category recognition for its efforts on water conservation from internationally accredited body DQS. Germany-headquartered DQS is an internationally accredited ISO certification agency specialising in audits, assessments and training across the globe. The firm conducted a rigorous audit at RNAIPL factory in February 2024, the company said in release issued on World Water Day today, The certification marks the success of Renault Nissan Automotive India Pvt Ltd (RNAIPL) in implementing a comprehensive strategy to reduce the Chennai manufacturing facility's water footprint through extensive rainwater harvesting and recycling of wastewater, among other steps. The company said that it has also set a target of achieving a 21 per cent reduction in water usage by 2030. The Chennai-manufacturing facility uses recycled water for a variety of industrial purposes. «RNAIPL has an unwavering commitment to sustainability and responsible water management.

Mohamed Muizzu has struck a reconciliatory tone, saying India will continue to remain his country's «closest ally» and urged New Delhi to provide debt relief to the archipelago nation. The Maldives owed approximately USD 400.9 million to India by the end of last year. Ever since he took oath as the president in November last year, the pro-China Maldivian leader has pursued a hardline stand towards India and within hours had demanded that Indian military personnel operating three aviation platforms be repatriated from his country by May 10. On Thursday, in his first interview with the local media since assuming office, Muizzu said India was instrumental in providing aid to the Maldives and has implemented the «greatest number» of projects.

Pocket FM scooped up 46% of the $223 million in startup funding this week — pushing up the share of dealmaking in the late-stage category, as per Tracxn data. Growth-stage deals commanded 79%, followed by the early stage at 11.2%. The latest week’s number was a 67% drop from the year-ago total of $670 million. During the same period last year – March 16th to 22, 2023 – omnichannel eyewear retailer Lenskart had raised $500 million from Abu Dhabi Investment Authority in exchange for a 10% stake.

Uno Minda on Friday said it has tied up with Starcharge Energy to manufacture and sell electric vehicle supply equipment in the country. The company has entered into a technical license agreement with Starcharge Energy Pte for wall-mounted AC chargers designed for home charging. «This collaboration further strengthens our dedication to 'Make in India' and for accelerating the nation's transition to a sustainable and electrified future,» Uno Minda Group CMD Nirmal K Minda said in a statement. StarCharge, a global leader in electric vehicle charging infrastructure and microgrid solutions, operates in 67 countries and regions with manufacturing facilities in the US, Vietnam, and China.

Before opening a fixed deposit (FD) account, depositors are meant to compare the interest rates offered by different commercial banks. Typically, the interest rates of most banks are in the same range but marginal difference over a long period of time can make significant difference to the overall wealth creation.

HR manager under sections of Information Technology Act and the Indian Penal Code," reported the Times of India (TOI). According to the TOI report, the woman works as house help and lives with her younger brother and grandmother. She was the nominee of her father's PF account as her parents were divorced and would receive the PF amount after she turned 18.

Indian Hotels Co , Lemon Tree Hotels , EIH Ltd, Chalet Hotels share prices have seen gains of 73-127 % over last one year. Even for Juniper Hotels the gains stand at around 26.5% even since its listing in February. The hospitality industry received a lot of attention during recent past and was for the correct reasons.

₹80 lkah to Air India Limited for violation of regulations pertaining to Flight Duty Time Limitations (FDTL) and fatigue management system (FMS) of flight crew. "DGCA has imposed a financial penalty of Rs. 80,00,000 (Rupees eighty lakhs) to Air India Limited for violation of regulations pertaining to Flight Duty Time Limitations (FDTL) and fatigue management system (FMS) of flight crew," PTI quoted DGCA as saying.

Hindustan Times. The bench also directed the Yogi Adityanath-led State government to accommodate students studying in Madarsas in other schools. The Lucknow bench comprised Justice Vivek Chaudhary and Justice Subhash Vidyarthi.

NEW DELHI : The Indian Premier League (IPL) is revving up for the opening weekend of its latest edition, with the hospitality sector raring to capitalize on surging demand on the back of a likely heady mix of Twenty20 cricket and festivities. Hotels and restaurants are rolling out targeted deals, anticipating a significant uptick in bookings. The industry expects the opening weekend will hold a distinct value because of the long weekend, with Holi falling on Monday.

₹600 crore through a qualified institutional placement (QIP), according to a term sheet seen by Mint. The base size of the QIP is ₹400 crore with an option to raise up to ₹600 crore. At the higher end of the base size, Karnataka Bank plans to issue 26.66 million shares at a face value of ₹10 each.

₹5,000 crore towards several CSR initiatives over five years focused on skill development, an announcement that saw the coming together of the larger Bajaj family. It unveiled ‘Bajaj Beyond’—an identity for the group’s social impact programmes.

ICRA said in a recent report. The report added that the sustenance of domestic leisure and business travel, and demand from meetings, incentives, conferences, and exhibitions (MICE) are likely to drive demand in FY25 despite a lull during the Lok Sabha elections. As things stand, India remains the world’s fastest-growing major economy.

Arvind Kejriwal's arrest by the Enforcement Directorate in the excise policy-linked money laundering case, his wife Sunita Kejriwal broke her silence for the first time and hit out at Prime Minister Narendra Modi saying ‘this is arrogance of power’. Taking to X, she wrote, “Modiji got your thrice elected Chief Minister arrested out of arrogance of power. He is trying to crush everyone.

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered, and operated.

mutual fund scheme, retail investors tend to compare the returns given by one scheme vis-à-vis other schemes in the same category in order to maximise their wealth creation. Although historical returns are no guarantee of any scheme’s future returns, still investors prioritise them over an interplay of several factors such as the reputation of fund house, macroeconomic factors and the category of scheme. Returns for a year may not matter much, but when compounding comes into play, the returns over a number of years increase substantially.