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Norway on Sunday said that it plans to ratify the India-EFTA free trade agreement next year, the commerce and industry ministry said. India and the four-nation EFTA (European Free Trade Association) bloc inked the agreement, officially dubbed as Trade and Economic Partnership Agreement (TEPA), on March 10 this year. However, it needs ratification from the four countries for its implementation. The agreement came up for discussions during the India-Norway Business Forum which was held in Mumbai. May-Elin Stener, Ambassador of Norway to India, termed TEPA a landmark in bilateral relations and highlighted its potential to further enhance trade and investment between the two nations.

Ashwini Vaishnaw on Sunday said the Railways would run about 13,000 trains, including 3,000 special ones, for the convenience of devotees during the Maha Kumbh. The Union minister, who reached Prayagraj by train from Varanasi to review the Railways' preparations for the mega event, expects about 1.5 to 2 crore passengers to reach the city by train during the mela. The Maha Kumbh will commence on January 13 on the occasion of Paush Purnima and conclude on February 26 on Mahashivratri.

Bridge and Roof Company (India) Limited, a central PSU, in connection with a bribery case after Rs 10 lakh was seized from a luxury car in which he was travelling in Bhubaneswar, officials said Sunday. Besides Chanchal Mukherjee, Group General Manager (GGM) of Bridge and Roof Company, two private persons — Santosh Moharana, Director of Penta A Studio Private Limited and middleman Debadutta Mohapatra — were also arrested for allegedly bribing Mukherjee, they said. The central probe agency had conducted a trap operation after registering a case against four persons including the three arrested accused. According to the CBI, the accused were allegedly indulging in corrupt and illegal activities in the matter of awarding work orders of the PSU and clearing bills in lieu of undue advantage in the form of bribe.

SpiceJet reduced its workforce significantly, cutting 716 permanent male employees and 618 females, along with 531 male and 30 female non-permanent staff in FY24. Among permanent employees, 74% of men earned above the minimum wage, up from 61%, while women rose from 37% to 56%. For non-permanent employees, the percentage of men earning above the minimum wage increased from 1% to 8%, and women rose from 2% to 16%. However, male employees continue to earn more than female employees, highlighting a persistent gender wage gap. “Employee remuneration and benefits/expenses decreased by 9% to Rs. 7,705.44 million in FY 2023-24 from Rs. 8,438.71 million in FY 2022-23. This reduction is primarily attributed to a decrease in the headcount,” the company stated. Ajay Singh, Chairman & Managing Director, earned 211 times the median employee remuneration, with no increase in his pay. To be sure, he received Rs. 54 million as remuneration in FY24, with Rs. 18 million provisioned against the approved Rs. 72 million.

Nobel Prize winner Geoffrey Hinton and chemistry laureate Demis Hassabis on Saturday insisted on a need for strong regulation of artificial intelligence, which played a key role in their awards. «AI is a very important technology to regulate but I think it's very important that we get the regulations right and I think that's the hard thing at the moment is it's such a fast moving technology,» Hassabis told a news conference in Stockholm. Hassabis, who jointly won with Americans David Baker and John Jumper for revealing the secrets of proteins through AI, said such evolutionary speed posed a giant challenge.

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may not be introduced in Parliament in the ongoing session, sources said. Some finetuning may be required in the draft Bill after receiving comments from stakeholders, sources said. Given the paucity of time, it is difficult to present the Bill in the ongoing session, sources said, adding it may, however, come in the Budget session. The finance ministry has proposed to amend various provisions of the Insurance Act, of 1938, including raising foreign direct investment (FDI) in the insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence.

Maharashtra Chief Minister Devendra Fadnavis has lauded the state as the business magnet and powerhouse of the Indian economy. «We are back and we are back with a bang,» he said at the CNBC-TV18 India Business Leader Awards (IBLA) in Mumbai on Saturday. The newly elected chief minister thanked the people of Maharashtra for the mandate they gave to the Mahayuti coalition, which he said is not only unprecedented but also entrusts them with the responsibility to contribute most to the Indian economy.

Nirmala Sitharaman chaired another pre-Budget meeting, this time with the stakeholders from Micro, Small and Medium Enterprises, to gather their inputs and suggestions for the upcoming Budget for 2025-26. The meeting was also attended by Union Minister of State for Finance Pankaj Chaudhary; Finance Secretary; DIPAM Secretary; Department of Economic Affairs Secretary; Chief Economic Adviser; among others. Members from Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers Association (ASIMA); Rajasthan Footwear Manufacturers Association; The All-India Plastics Manufacturers Association; All India Manufacturers Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (Based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog Bharati were among the participants at the meeting.

Duchess of Cambridge, has paid a heartfelt tribute to Princess Diana's enduring legacy by inheriting a remarkable collection of jewels. Among these treasures is a stunning emerald and diamond choker valued at INR Rs 14.56 crore (approximately £16 million). Originally a wedding gift from Queen Elizabeth to Princess Diana in 1981, the necklace was given to Diana on a lifetime loan. Now, this exquisite heirloom has been passed down to Kate, who has embraced its history with grace. Kate, celebrated for her impeccable style, honored the piece by wearing it during the 2022 Earthshot Prize Awards. Paired with a rented off-the-shoulder dress from Solace London, the choker became a centerpiece of her ensemble, perfectly aligning with the event’s sustainable fashion theme. The necklace, featuring dazzling emeralds and diamonds weighing approximately 10 carats each, is now estimated to be worth INR 150 crore (about $20 million). Throughout her time in the Royal Family, Kate has subtly incorporated Princess Diana’s iconic fashion elements into her wardrobe, from her engagement ring to other jewelry pieces. Her choices are not only tributes to Diana but also to Queen Elizabeth II, whom she honored during the 2022 Remembrance Sunday service by wearing sentimental earrings. Following Diana’s tragic passing, Kate thoughtfully selected heirloom pieces that reflect a deep respect for tradition and a desire to preserve the memory of her predecessors.

unified communications company Tadiran Telecom plans to invest at least USD 10 million (about Rs 80 crore) annually to manufacture IP telephones in India, a top company official has said. IP telephones support multiple communication functions, including conference calls through apps, and are generally used in business organisations. The company has partnered with DCM Shriram for manufacturing IP phones.

Subscribe to enjoy similar stories. On the surface, this newly listed water management stock may look like the biggest story to watch out for in 2025. Why, you ask? It belongs to the red-hot water management sector, and we recently explained why stocks involved in this industry could make big moves in 2025.

Info-x Software Technology Pvt Ltd, through its director Rishi Parti, has bought a 16,000 sq ft penthouse at DLF's ultra-luxury The Camellias in Gurugram for ₹190 crore in one of the costliest apartment transactions in the country. The deal was registered on December 2, and the company paid ₹13 crore stamp duty for the transaction, showed documents accessed through CRE Matrix, a real estate data analytics firm. In October 2023, ET reported about the first ₹100-crore transaction in the same residential complex located at the Millennium City's Golf Course Road.

West Bengal Chief Minister Mamata Banerjee on Friday hailed a POSCO court in the state for awarding a death sentence to a man accused of the rape and murder of a minor girl in Joynagar. Taking to her X account, Banerjee said that the incident occurred 62 days ago and the conviction and punishment was announced within the two months of the crime. Further, the Chief Minister also congratulated the state police and officials involved in the sentencing of the accused in the case.

Subscribe to enjoy similar stories. Last week, chef Garima Arora made Indian culinary enthusiasts proud. For the second consecutive year, her fine-dining spot, Restaurant Gaa in Bangkok, received two Michelin stars.

FY25 GDP growth forecast to 6.6 per cent from 7.2 per cent, Governor Shaktikanta Das announced on Friday. Q3FY25 GDP growth forecast was reduced to 6.8% from 7.4%, Q4 growth target was lowered to 7.2% from 7.4%, and Q1FY26 was also revised to 6.9% from 7.3%. ALSO READ: RBI Policy Meeting GDP Forecast: Das & Co cut India’s FY25 growth aim to 6.6% from 7.2%

Monetary Policy Committee (MPC) will announce its bi-monthly policy decisions on Friday at 10:00 am, after a three-day meeting that began on December 4. For the first time in over 30 months, the MPC is expected to focus more on slowing economic growth. The RBI has kept its policy rate at 6.5% for the last ten meetings, maintaining a cautious stance on inflation, especially due to persistent high food prices, while remaining optimistic about growth prospects, thanks to favourable monsoons and hopes of a revival in capital expenditure.However, it shifted its stance from withdrawal of accommodation to neutral in the last meeting.

Barwa Adda Expressway (BAEL), have agreed to restructure the ₹1,269 crore debt of the toll company, allowing them to classify the account as standard to recover their dues. The restructuring documents are being finalised and creditors expect to complete the process and book the recovery in the current quarter, people familiar with the plans said. An IL&FS spokesperson confirmed that lenders have approved the restructuring of its ₹1,269 crore aggregate debt.

The company said it has solidified its position in Madhya Pradesh with close to 50 offices and a network of 524 hospitals. «We have a robust network of over 31,200 agents covering 8 lakh lives and 527 employees in MP,» Sanath Kumar, Executive President of Star Health Insurance told reporters here.

The Tata Group-owned Air India faced a Rs 30 lakh fine from the DGCA in January this year for not having enough pilots trained to fly in low visibility conditions ahead of the fog season. «Air India has adjusted flight schedules to minimise disruptions to long haul and metro-to-metro flights with onward connectivity during the fog window. It has also increased the number of CAT-III trained pilots who are certified to land in low visibility operations and CAT-III instrument landing system,» Air India said without giving the number of such pilots.

marital status being a significant determinant of labour force participation rate (LFPR) for both women and men, shows a working paper by the Economic Advisory Council to the PM (EAC-PM). “At the national level, rural female LFPR surged from 24.6% to 41.5% while urban LFPR rose modestly from 20.4% to 25.4% with significant interstate variations,” the paper, authored by Shamika Ravi, member, EAC-PM and Mudit Kapoor of Indian Statistical Institute, said. According to the paper, rural areas in states like Jharkhand (233% growth) and Bihar (6x growth) have seen significant growth while northeastern states like Nagaland have seen a jump to 71.1% from 15.7% during the period.

IPO) in 2024, venture capitalists are betting big on the growing Indian ecosystem. Karnataka’s Vision Group chair and cofounder of Accel Partners India, Prashanth Prakash, said that while there is a need for unicorns and soonicorns, there is also an equal opportunity for small startups that are leading the intellectual property (IP)-driven growth for deep tech. «There was a time when, if you were not a large enough startup, you had no value. But I think that is changing. Startups going IPO today will buy smaller companies to expand their scope. It’s not bad anymore to build small,» Prakash said while speaking at Ramaiah Institute of Technology during the Ramaiah Evoluate Incubator's startup awards on Thursday. He added that India is moving beyond a focus on consumer startups and easy opportunities to deep technology, manufacturing, and engineering-led ventures. «By 2025, we could see another 30 to 40 companies from India going public, reflecting the maturing of our startup ecosystem,» the Co-founder of Accel claimed, adding that India stands to gain from the China Plus One strategy.