Awards Financial News

Private equity investments inflows into the Indian real estate sector stood at USD 4.3 billion (Rs 356billion ) during 2024, reflecting a 10% increase year-on-year.

Moody's Ratings.

Manu Bhaker from this year's Dhyan Chand Khel Ratna award list, a senior source within the Ministry of Youth Affairs and Sports has confirmed that the final list of nominees has not yet been decided.

Green hydrogen has been touted by politicians and business leaders alike as a key fuel for a carbon-free future. But it will remain far more expensive than previously thought for decades to come, according to a new estimate from BloombergNEF.

In Nigeria, the first part of a $1 billion project to clean up Ogoniland in the Niger Delta, where there have been thousands of oil spills, was a “total failure.”

Prestige Group, RC Group and Valor Estate are in advanced talks to undertake one of the largest cluster redevelopment projects of public housing colonies in Mumbai, said people aware of the development.

MG Motor India has introduced a new luxury brand, MG Select, and previewed its upcoming electric sports car, the Cyberster. The company aims to redefine accessible luxury with MG Select locations in 12 Indian cities. The Cyberster, developed with input from former Formula 1 engineer Marco Fainello, is inspired by the classic MG B Roadster. It features a dual electric motor setup generating 510 PS and 725 Nm of torque. “The 8-layer flat wire winding and waterfall oil-cooled motor enable the car to have a high-performance electric motor with an advanced cooling system, allowing the motor to operate at high temperatures, which increases the vehicle’s power output, efficiency, and reliability,” the company said in a statement. The car utilizes a front double wishbone and rear five-link suspension, combined with a 50:50 weight distribution. Its aerodynamic design incorporates a «Kammback» rear roofline. Notable features include electric scissor doors with safety sensors, a first for India. MG Select emphasizes sustainability and innovation, aligning with the heritage of Morris Garages. The brand targets customers who value experiences. MG Motor India positions the Cyberster as a benchmark for sports cars in the region. The company seeks to combine elegance, sportiness, and technology in the new roadster.

customs duty exemptions for certain imported components such as bulk drugs used to manufacture certain insulins, raw material to produce rough lab grown diamonds, plastics used to manufacture optical fibre, components used in LED and LCD TV panels and goods required for coal mining and power generation to boost their local manufacturing.

Nitin Gadkari has issued a stern warning that authorities responsible for the delayed recarpeting of the Nagpur airport runway will face suspension if the work is not completed within a month. The project, which had initially been scheduled for completion much earlier, has faced multiple delays, leading to inconvenience for passengers.

Nitin Gadkari, issued a stern warning on Monday, stating that authorities would be suspended if the recarpeting of the Nagpur airport runway is not completed within a month.

nano urea requirement for the ongoing 2024-25 rabi season is estimated at 2.36 crore bottles of 500 ml each, with Uttar Pradesh leading the demand, government data shows. The maximum requirement is from Uttar Pradesh at 43.38 lakh bottles, followed by Maharashtra (34.7 lakh bottles) and Punjab (20.82 lakh bottles).

Shreyas Media, a division of Aadhyasree Infotainment, on Monday announced that it bagged exclusive advertising rights for Maha Kumbh Mela 2025, scheduled to be held from January 13 to February 26, next year at Prayagraj in Uttar Pradesh. A press release from the city-based firm said it also secured rights for multiple other activities, including vending zones, an amusement zone and a food court at the world's largest spiritual congregation.

5G phones, triggered by the likely availability of more aggressively priced devices in the sub-₹10,000 range. Top handset brands seeking to clear this year's inventory of base 5G devices at discounts exceeding a sixth of the sticker prices should push volumes further, handset industry trackers said. Market researcher Counterpoint Research estimates pan-India penetration of base 5G smartphones will jump to 43% by end-2025 from an estimated 3% in year 2024, amid falling device prices, rising adoption of the next-gen wireless broadband service and a likely pick-up in upgrades to 5G devices at the entry-level. «The recent launch of sub-₹10,000 5G phones by the likes of Poco (C75) and Xiaomi (A4 5G) is set to intensify competition and potentially drive rival handset brands to also cut pricing of base 5G smartphone models down to similar levels. This is expected to sharply increase the pan-India penetration of entry-level 5G phones in 2025,» Counterpoint's research director Tarun Pathak told ET.

National Company Law Tribunal (NCLT) has approved the demerger scheme of Raymond Ltd, paving the way for the reorganisation of its real estate business into a separate entity, Raymond Realty. The move is aimed at unlocking the growth potential of the group's real estate vertical and attract strategic investors. Raymond Ltd, the demerged company, will transfer its real estate assets and operations to Raymond Realty Limited, the resulting company, effective from April 1, 2025. As part of the scheme of this demerger exercise, existing Raymond shareholders will be receiving one equity share of Raymond Realty for every share held in Raymond Ltd.

RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic. Sanjay Malhotra, another civil servant, was named as Das' successor barely 24-hour before the latter's second three-year term came to an end.

cargo handling this year. V O Chidambaranar Port has handled a cargo volume of 29.70 million tonnes including 5.62 lakh TEUs of containers till December 19, 2024 this is an overall growth of 1.87 per cent and 6.74 per cent, respectively. «With the ever-increasing trend in cargo handling, the Port has initiated several strategic capacity augmentation and cargo evacuation initiatives to increase cargo throughput, enhance handling efficiency and expand its market share in the region,» a press release said on Sunday.

Akasa Air is in continuous discussions with Boeing on aircraft deliveries and expects to add a few more planes to its fleet in the current fiscal ending March 2025, the airline's chief Vinay Dube has said. The carrier, which started flying in August 2022, currently has a fleet of 26 Boeing 737 MAX planes and 200 aircraft are on order. In a recent interview to PTI, Dube said that 2024 has been a good year for the airline and will continue to build on it in 2025. «On the service excellence we have provided, I think consumers look at Akasa as being a kind and gentler airline, little more empathetic. We will continue to treat our travellers in a kind, gentle manner,» he said and added that the airline also continues to make sure its employees feel loved and respected.

Arguing that current Development Finance Institutions (DFIs) like SIDBI and NaBFID (National Bank for Financing Infrastructure and Development) have their roles cut out as they have earmarked sectors to finance, the chamber also suggested setting up of a high level committee to look at the revision of PSL norms and explore the need for any new DFIs to cater to some of the new and emerging sectors. Priority Sector Lending is a policy tool aimed at ensuring that key sectors crucial to the nation's development receive adequate financial support. Mandated by the Reserve Bank of India (RBI), PSL obligates banks to allocate a specified proportion of their loans to sectors such as agriculture, education, housing, and small industries.

Indian Oil Corporation (IOC) has begun a probe into allegations of a US speciality chemicals firm bribing its officials 15 years back to obtain contracts to supply catalysts, according to a company's regulatory filing. Albemarle Corporation, a global speciality chemicals supplier that develops and sells catalysts used in the operation of oil refineries, allegedly «paid approximately USD 1.14 million in commission to India intermediary company relating to Indian Oil Corporation business and obtained approximately USD 11.14 million in profits on that business between approximately 2009 and 2011,» according to a US SEC order dated September 28, 2023. Albemarle was caught for bribery by the US authorities in 2017 and then settled the case in September 2023 by paying a hefty fine of more than USD 198 million to avoid prosecution. In a filing, IOC said it is «neither party to nor is there any allegation against the company in relation to the proceedings» in the US SEC.