PAM Financial News

Palantir Technologies and defense tech company Anduril Industries are in talks with about a dozen competitors to form a consortium that will jointly bid for U.S. government work, the Financial Times reported on Sunday. The consortium, which could announce agreements with other tech groups as early as January, is expected to include SpaceX, OpenAI, autonomous shipbuilder Saronic and artificial intelligence data group Scale AI, the newspaper said, citing several people with knowledge of the matter. «We are working together to provide a new generation of defence contractors,» a person involved in developing the group told the newspaper.

National Centre of Meteorology (NCM). A surface low-pressure system extending from the Southeast will interact with an upper air low-pressure system, accompanied by a cold air mass and strong upper-air winds from the West. This combination is likely to lead to the development of clouds in various parts of the country, with the potential for convective activity at times. Partly cloudy to cloudy conditions are anticipated, with a chance of rainfall at intervals over some coastal areas, islands, and the Northern and Eastern regions.

Miller, wife of Trump's designated homeland security adviser Stephen Miller, will join Trump's Department of Government Efficiency (DOGE), an informal advisory body that Trump has said will enable his administration to «slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.» «Katie Miller will soon be joining DOGE! She has been a loyal supporter of mine for many years, and will bring her professional experience to Government Efficiency,» Trump posted in a message on his social media platform Truth Social.

The National Department of Transport Infrastructure said the central span of the 533-meter (0.3-mile) bridge, linking the cities of Estreito in Maranhao state and Aguiarnopolis in Tocantins state, gave way in the afternoon. A tanker truck carrying the acid plunged into the water, officials said. According to the fire department, one person has been confirmed dead and another was rescued alive.

Donald Trump said on Sunday he will rename Denali, Alaska natives' name for North America's tallest mountain, after William McKinley, the 25th U.S. president who was assassinated in 1901. Democratic former President Barack Obama in 2015 officially renamed the mountain as Denali, siding with the state of Alaska and ending a decades-long naming battle. The peak had been officially called Mount McKinley since 1917. «They took his name off Mount McKinley,» Trump said in a speech to supporters in Phoenix. «He was a great president,» Trump, a Republican, said, adding that his administration will «bring back the name of Mount McKinley because I think he deserves it.»

Income Tax department has served a notice to senior PDP leader and Jammu and Kashmir MLA Waheed Para to submit his books of accounts, officials said on Sunday. Though, according to the notice, Para was scheduled to appear before the Income Tax authorities on December 20, he received the intimation on the same day. While the People's Democratic Party (PDP) leader — the MLA from Pulwama in south Kashmir — was not available for comment, his close aides said his representative would appear at the Income Tax office on Monday. Para was served a notice under Section 131(1A) of the Income-Tax Act that empowers a tax officer to seek information from taxpayers, even when no formal proceedings are pending.

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.

Data centre capacity addition in the colocation space is expected to reach approximately 230 MW (IT load) by the end of 2024, with a similar or higher capacity addition anticipated in 2025, according to Cushman & Wakefield data. In 2025, while the majority of capacity creation will occur in Mumbai, other cities such as Delhi-NCR, Kolkata, and Chennai are also expected to see significant growth. India has the potential to become a global data centre hub due to its low construction, land and power costs compared to other countries, coupled with a well-established IT and digitally enabled services ecosystem. According to Cushman & Wakefield, the median cost of constructing a data centre in India is estimated at $6.8 million per MW of capacity, significantly lower than most APAC nations-Australia is at $9.17 million, Japan is at $12 million.

Jitendra Singh will inaugurate the National Workshop on 'Good Governance' practices tomorrow in New Delhi. The workshop will take place at Bhim Auditorium, Ambedkar International Centre. According to a statement from the Ministry of Personnel, Public Grievances & Pensions, the minister will also inaugurate an exhibition showcasing the best practices of the Swachhata Campaign 4.0, curated by various ministries, and release the assessment report.

RSS chief Mohan Bhagwat for his «politically convenient» position on restoring temples. Avimukteshwaranand said a list of temples destroyed in the past by invaders be prepared and archaeological surveys of the structures be carried out to «restore Hindu pride». «When he wanted power, he went around speaking about temples. Now that he has power, he is advising not to look for temples,» he said on Bhagwat's remarks. Rashtriya Swayamsevak Sangh (RSS) chief Bhagwat recently said that it was not acceptable that new temple-mosque disputes are raked up after the construction of Ram temple in Ayodhya.

Elon Musk, the CEO of Tesla, has recently come under fire for his outspoken views on UK politics, but his ties to his British family have also raised eyebrows. While Musk has strong familial connections to Liverpool, the birthplace of his late grandmother, a family member has shared how Musk dismissed their attempts to contact him. Cousin Shares Social Media Interaction with Musk Marshall Robinson, Musk’s 86-year-old cousin, spoke to Daily Mail about their family’s efforts to reach out to the billionaire. Robinson revealed that one family member sent Musk a social media message, to which he replied bluntly, «What do you want?» Robinson said, “I have never been in touch” with Musk directly, emphasizing that this was the only interaction they had.

Haryana government has notified the procurement of 24 crops at a minimum support price (MSP), extending the list of 14 farm produces that were earlier eligible for guaranteed rates under public procurement system. The state cabinet of the previous government, which was also headed by Chief Minister Nayab Singh Saini, already approved the proposal of buying 10 additional crops at MSP. The decision on MSP for additional crops was announced on August 5, months before the assembly polls in October. Till August, government agencies used to procure 14 crops at MSP. According the latest notification dated December 19, the then Council of Ministers, in its meeting held on August 5, decided to purchase ragi, soybean, nigerseed, safflower, barley, maize, jowar, jute, copra and summer moong at the minimum support price.

Jagjit Singh Dallewal's fast-unto-death entered its 27th day on Sunday, doctors termed his health condition «critical». Doctors attending to him at the Khanauri border protest site reiterated that Dallewal is at the risk of cardiac arrest and multi-organ failure. Dallewal, 70, has been on a fast-unto-death at the Khanauri border point between Punjab and Haryana since November 26 to press the Centre to accept the agitating farmers' demands, including a legal guarantee for MSP on crops. A statement issued by the Samyukta Kisan Morcha (Non-Political) and Kisan Mazdoor Morcha said following the advice of doctors, the veteran farmer leader did not come on stage on Sunday.

orange alert for severe cold in Bilaspur, Una, Hamirpur and Mandi districts for four days from Monday. The meteorological department also predicted light rain and snowfall at a few places in the mid and higher hills till Thursday. While the minimum temperatures stayed below normal, the weather remained dry and day temperatures dropped by two to three degrees. Tabo was coldest in the state with a low of minus 11. 6 degrees, while Sumdo, Kusumseri and Kalpa recorded a low of minus 5.3 degrees, minus 4.8 degrees and minus 1.8 degrees Celsius, respectively.

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.

Mukhya Mantri Mahila Samman Yojana, which will provide monthly assistance of Rs 1,000 to women in the city, will begin tomorrow. In its 2024-25 budget, the Delhi government had announced this scheme to provide Rs 1,000 per month to all women aged above 18. However, Kejriwal recently announced that the amount would be raised to Rs 2,100 if his party returns to power in the assembly elections, slated for February next year.

«The helicopter fell to the ground after having struck the fourth storey of a hospital during take-off,» killing two pilots, a doctor and an employee on board the vehicle, Mugla provincial governor Idris Akbiyik said. «There was intense fog,» Akbiyik said, adding that the authorities were investigating the accident's cause.

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.

New supply in Delhi-NCR is set to increase 59 per cent to 11,223 units in the current December quarter from 7,072 units in the corresponding period of the previous year. Among nine major cities across India, Delhi-NCR is the only market where sales and new supply are estimated to rise during the current quarter, real estate data analytics firm PropEquity's data showed.

Both pilots were recovered alive, with one suffering minor injuries, but the incident underlines just how dangerous the Red Sea corridor has become after a year of ongoing attacks on shipping by Yemen's Houthi rebels despite U.S. and European military coalitions patrolling the area. The U.S. military had conducted airstrikes targeting Yemen's Houthi rebels at the time, though the U.S. military's Central Command did not elaborate on what their mission was.