India Financial News

AI regulations. Stringent regulations such as the proposed EU Artificial Intelligence Act could potentially undermine the global competitiveness of European AI startups, likely pushing more companies to shift to place like the United States —a seismic blow to Europe’s tech ecosystem, ET has learnt after speaking with multiple industry executives, global founders, and investors at the Slush 2024 event in Helsinki. “The reality is that the regulations here are far removed from the reality of how businesses operate,” said Andreas Klinger, founder of Prototype Capital, an early-stage solo general partner fund based in Berlin. “If we look at the high-risk aspects, everyone will agree, but things get muddier very quickly. I invest in artificial intelligence startups, so I have a good sense of what is likely to happen.”

Subscribe to enjoy similar stories. As the air quality index breaches hazardous levels all over the region, residents of Delhi-NCR and other major cities are working from home, while schools have already moved to online classes. Outdoor activities that usually rise in winter months, including dining out and shopping in high-street shopping districts, have fallen across major cities.

Subscribe to enjoy similar stories. No incentive, won’t buy. That appears to be the message coming through from dismayed consumers in Delhi after the state government failed to renew road tax and registration benefits on electric cars and two wheelers this September.

Subscribe to enjoy similar stories. Adani group executives’ indictment in a bribery case in the US roiled the Indian markets, with the conglomerate’s stocks taking a massive hit in the ensuing selloff. The turbulence followed an announcement from the US Attorney’s Office in New York in the early hours of Thursday (India time), indicting group chairman Gautam Adani and seven senior executives.

Subscribe to enjoy similar stories. Mumbai: Senior executives eyeing CEO roles should not simply bank on their leadership and business acumen to nail interviews. They may also have to field queries on everything from longevity and global warming to geopolitics, besides having to study financials and present a strategy plan to the board.

Subscribe to enjoy similar stories. Fear and uncertainty have gripped the Indian stock markets. The Nifty has recently slipped below the 23,300 level, reflecting the broader market's ongoing struggle amid unsettling news, including the recent Adani bribery reports.

Subscribe to enjoy similar stories. The benchmark index, Nifty50, continued to slide due to rising geopolitical concerns and news regarding Adani Group stocks. Adani stocks were in the limelight following bribery allegations from the US Department of Justice and Securities and Exchange Commission against Gautam Adani and other group executives.

Subscribe to enjoy similar stories. Mumbai: The Adani Group denied bribery charges and vowed to explore legal options after a damaging indictment in the US, but the move failed to stop a run in its shares, posing the biggest test yet for the conglomerate which had rebuilt investor faith after the Hindenburg episode.

Subscribe to enjoy similar stories. Every Friday, Plain Facts publishes a compilation of data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The shares of Adani group companies plunged on Thursday after the US indicted chairman Gautam Adani and other executives for allegedly bribing Indian officials.

Subscribe to enjoy similar stories. The US indictment of billionaire Gautam Adani in a $250 million bribery case could set the stage for a lengthy legal process involving a multi-jurisdictional defence.

winter session of Parliament starting on Monday. The five new draft legislations include the one to set up a cooperative university. The pending bills include the Waqf (Amendment) Bill which has been listed for consideration and passage after the joint committee of the two Houses submits its report to Lok Sabha. The panel is mandated to submit its report on the last day of the first week of the winter session. The session concludes on December 20.

RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies — the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding (MoU) was signed by Governor of Reserve Bank of India Shaktikanta Das and Governor of Maldives Monetary Authority Ahmed Munawar. «The MoU encourages the use of INR and MVR in current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries,» the RBI said in a statement. This framework would enable exporters and importers to invoice and settle in their respective domestic currencies, which in turn would enable the development of trading in the INR-MVR pair in foreign exchange market.

The prominent pollutant was PM2.5-fine particles with a diameter of 2.5 micrometers or less, roughly the width of a human hair. These particles can penetrate deep into the lungs and enter the bloodstream, posing significant health risks, according to the Central Pollution Control Board.

Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by China. According to Press Note 3, if an entity from a nation sharing a land border with India (China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan), or if a citizen or permanent resident of any such country is the beneficial owner of an investment in India, they are required to pursue investment through the government approval route. According to sources, the green signal from the DPIIT will help take forward the resolution plan submitted by Mauritius-based IIHL, which emerged as the successful bidder by submitting Rs 9,861-crore bid for the debt-ridden financial firm.

Indian equities have entered correction territory on sustained selling by overseas investors and slowing earnings. Yet, valuations remain stretched relative to trends. External factors such as China's stimulus and US moderating rate cuts have been sold into.

From the beginning, the mood of the 'finance COP' in Azerbaijan has been far from optimistic. In the first week, Adaptation Fund head Mikko Ollikainen spoke about the 'great paradox' at the heart of the latest UNFCCC meet — the urgent calls of world leaders to safeguard vulnerable populations from worsening climate impacts, and the lack of funds to make that a reality. The UN's Adaptation Gap Report 2024: Come Hell and High Water, released on Nov 7, estimates that the adaptation finance gap stands between $187-359 bn a year. Much larger numbers are floating around in Baku. The report stresses another aspect: need to improve the design and modalities of adaptation projects to ensure that projects enhance resilience of vulnerable communities.

air pollution, with COPD (chronic obstructive pulmonary disease) as the leading cause (32.5%), followed by ischemic heart disease (29.2%), stroke (16.2%), and lower respiratory infections (11.2%). Delhi-NCR's notorious air quality may grab headlines. But air pollution, whether people are willing to believe it or not, is a national crisis. Climate change isn't helping.

equity exposure of the household (HH) sector despite a surge in equity mcap. India's mcap hit 146% of GDP in the quarter ended June 2024. In its July bulletin, RBI published its first- ever quarterly estimates of the financial wealth of HHs, including their holdings in the equity market. A month later, Sebi released a 'Working Paper on Household Savings through Indian Securities Market'. Taking cues from these estimates, gross financial assets (GFAs) estimates, and outstanding liabilities of the HH sector, along with their equity exposure, were made. RBI's estimates up to FY23 were updated to Q1 FY25, incorporating additional information from Sebi's paper, which found:

Piyush Goyal Thursday said that India will be cautious in its opening up process till the time it is an emerging economy and it has to maintain a balance between protecting the needs of industry and the different levels of economic development of other countries and non-market economies when it comes to investment. At an event organised by the UK-India Business Council, he also said that India is going to bring out a new legal framework to ensure data privacy that would encourage free flow of data among trusted partners. “Till we are yet an emerging economy or a developed economy, I'll certainly need to have a little bit more caution in my opening up process,” Goyal said.

The prime minister, who arrived in Guyana on the final leg of his three-nation visit, is the first Indian head of the state to visit the country in more than 50 years. «For the world to move forward, the biggest mantra is 'Democracy First, Humanity First'. The spirit of democracy first teaches us to take everyone along and participate in everyone's development. Humanity First guides our decision-making. When we make Humanity First the basis of our decision-making, the results are also ones which benefit humanity,» he said.

Nippon Life India Asset Management has executed a definitive agreement with realty developer Lodha, listed as Macrotech Developers, to acquire an office space spread across two floors in a commercial tower One Lodha Place in Mumbai’s business district Lower Parel for Rs 486 crore. The asset management company is planning to shift its headquarters in this office spread over 52,162 sq ft from Peninsula Business Park in the vicinity. “The deal was registered on Thursday noon. The buyer has paid a certain amount of the consideration and the stamp duty, and is expected to pay Rs 400 crore by December 6,” said a person with direct knowledge of the development.