PAM Financial News

Trump is set to take office in January and executives are hoping a positive rapport with his administration, such as the one Tesla boss Elon Musk has established, could mean notable benefits for their companies. Below is a list of companies that are contributing funds for Trump's inauguration for his second term in the White House.

Sri Lankan President Anura Kumara Dissanayake said his government is not concerned with Adani Group's dealings with other countries, but is instead focused only on what the conglomerate does in Sri Lanka. He said his «stable government» intends to «pave the way» for more Indian investments. «We don't have any concerns over how they (Adani) work with other countries. What is important for us is how they work with us,» Dissanayake told ET in an exclusive interview on Tuesday. «We are basically concerned about our investments, our development. We will be looking at how they have worked in our country. If they have worked in a manner that suits us, fits our initiatives, we don't mind working with Adani Group.» Also Read: No compromise on India's security, seeks stronger ties, says Sri Lanka's President

Nirmala Sitharaman said, terming the growth deceleration in the three months through September to 5.4% as a «temporary blip.» Replying to a debate on the first batch of supplementary demands for grants in the Lok Sabha, the FM also ruled out any «generalised slowdown» in manufacturing, growth in which had slumped to 2.2% in the second quarter. The lower house later approved the first batch of supplementary demand for grants for FY25, involving an additional net spending of ₹44,143 crore.

Supriya Lifescience on Wednesday opened a new multipurpose active pharmaceutical ingredient (API) production block, Module E, at the Lote Parshuram site, in Maharashtra. The facility, developed with an investment of approximately Rs 120 crore, adds a substantial capacity of 335 kiloliters to the company’s operations. This expansion boosts the Lote Parshuram capacity by over 55%, increasing it from 597 KLPD kilo liters per day) to 932 KLPD. The new production block is designed to support Supriya’s strategic focus on expanding its R&D capabilities and scaling up its pipeline of innovative products.

Eastern Nagaland Peoples' Organisation (ENPO), which has been demanding a separate ‘Frontier Nagaland Territory (FNT) said that the tripartite talks with the Centre and the state government are in an advanced stage. ENPO is seeking a separate ‘Frontier Nagaland Territory (FNT)’ comprising six districts for seven backward tribes. ENPO General Secretary M. Honang Konyak said that they are optimistic that the Central government, led by Prime Minister Narendra Modi, would not fail in fulfilling the proposed offer of FNT by the Centre in the interest of the people of eastern Nagaland.

«The research on quantum computing has been ongoing for several years by various institutions, including us. The Quantum Reference Facility is coming up at the C-DAC facility in Bangalore,» said A S Murty, senior scientist and Kolkata head of the Centre for Development of Advanced Computing (C-DAC). The scientist was speaking on the sidelines of the International Symposium on Quantum Computing (ISQCI 2024) held in Kolkata.

Reserve Bank of India (RBI) on Tuesday lifted the business restrictions imposed on two key entities of the Edelweiss Group, ECL Finance Ltd and Edelweiss Asset Reconstruction Company Limited, with immediate effect. This decision comes after the companies implemented remedial measures to address supervisory concerns raised earlier. On May 29, 2024, the central bank had invoked its powers under the Reserve Bank of India Act, 1934 and the SARFAESI Act, 2002, imposing specific business curbs on the two entities.

precious metals from its free trade agreements (FTA) so as to curb speculative imports, safeguard foreign exchange reserves and protect India’s trade balance and economic resilience, think tank Global Trade Research Initiative (GTRI) said Tuesday. Gold imports reached a staggering $14.9 billion in November 2024, accounting for 21.2% of India’s total merchandise imports of $70 billion and for the first time, gold surpassed crude petroleum as the country’s largest single import item. Most gold enters India as bars and rods with 99.99% purity, but traders are also using other tariff-free or concessional categories to bypass import duties such as platinum alloys from Dubai, gold compounds and noble metal solutions from Japan, and gold and silver jewelry from Indonesia. These routes push actual gold imports to much higher levels than official figures suggest.

The government's move has irked the cold storage owners in the state as the ban is causing irreparable damage to the cold storage industry in the state. If the stocks in the cold storages are not cleared, it will lead to distress sales and spoilage of potatoes, thus hurting both the potato growers and the rural economy. Subhajit Saha, Vice President of West Bengal Cold Storage Association, said, “The ban on inter-state potato movement is causing irreparable damage to the cold storage industry in West Bengal. The cold storages in South Bengal, particularly in districts of Bankura, Midnapore and parts of Burdwan and Hooghly, are facing the full brunt of this decision."

High Representative for Foreign Affairs and Security Policy, Kaja Kallas, highlighted that the situation in Georgia is not moving in the right direction for its citizens. The EU emphasized its continued support for the people of Georgia by redirecting financial aid from government authorities to civil society and independent media. Also Read: Devastating layoffs: Kamala Harris fires DNC staffers without severance packages just before Christmas holidays and gives them pep talk afterwards

Cloud computing solution provider AceCloud on Tuesday announced a new cloud region in Noida in partnership with data solution provider firms NetApp and Quantum. A cloud region is a specific geographic area containing multiple data centres owned by a service provider. The cloud region will offer low-latency access to advanced cloud technologies with enterprise-level reliability, integrated security, and disaster recovery features, a company statement said. It will offer affordable pricing plans for high-performance cloud services. The pricing for compute for GPU will start from $ 0.03/hour and object storage at $ 7/TB/month, it said.

wealth management firms, has raised $2 million in a funding round led by early-stage venture capital firms Chiratae Ventures and BoldCap. The round also saw participation from investors such as Sparrow Capital, SFMG Wealth Advisors and Better Capital. The funds will be used to enhance and accelerate the product by expanding customisation capabilities, enhancing integrations, scaling partnerships and hiring talent.

Annual Information Statement (AIS) and those revealed in Income Tax Returns (ITRs) for the fiscal years 2023–2024 and 2021–2022 the Central Board of Direct Taxes (CBDT) has started an electronic campaign. In a press release dated December 17, 2024, the Ministry of Finance said, «People who have taxable income or major high-value transactions recorded in their AIS but have not filed ITRs for the relevant years are likewise the target of this campaign. The e-Verification Scheme, 2021, is being implemented in part via this endeavour.»

To determine the busiest international and domestic flight routes, OAG analyzed the volume of scheduled airline seats from January to December 2024. The routes listed reflect round trip flights rather than one-ways in a single direction. “With the Asia Pacific region very close to a full recovery, the busiest routes are concentrated in the familiar major hubs of Hong Kong, Seoul Incheon and Singapore,” said John Grant, chief analyst at OAG, in a release.

Uttar Pradesh government on Tuesday presented the second supplementary budget for financial year 2024-25, amounting to Rs 17,865 crore. The budget was tabled on the second day of the winter session of the state assembly. After the Question Hour, Finance and Parliamentary Affairs Minister Suresh Kumar Khanna presented the second supplementary budget. In his address, Khanna stated that the budget size is Rs 17,865.72 crore, which is 2.42 per cent of the original budget of Rs 7,36,437.71 crore. Khanna explained that the need for this supplementary budget arose due to the government's development priorities and adherence to constitutional provisions.

RVNL and Kaynes Technology are among 19 stocks that may soon be upgraded to largecap and midcap status by the Association of Mutual Funds in India (AMFI) in its February 2025 rejig, according to a prediction by the Nuvama Institutional Equities. The 11 stocks slated to be upgraded in the AMFI rejig include CG Power, Rail Vikas Nigam, ICICI Prudential, Polycab India, Indus Towers, Cummins India, Info Edge, Hyundai Motor India, NTPC Green, Bajaj Housing Finance, and Swiggy. Also Read | Year-ender 2024: Quant Mutual Fund schemes deliver up to 42% return in 2024. Check top winners

Ecommerce furniture and home decor company Pepperfry has elevated Madhusudan Bihani to the role of chief financial officer (CFO), the company said in a statement Tuesday. Bihani has close to two decades of experience in finance, corporate compliance, taxation and auditing. He joined Pepperfry in 2019 as AVP-finance and advanced to the role of VP-finance in 2021. Over the past six years, he has played a crucial role in driving the company's growth, financial discipline, operational efficiencies and compliance frameworks. He has been responsible for improving profitability, streamlining financial operations and supporting strategic initiatives.

ICRA expects the domestic gold jewellery consumption (in value terms) to continue its momentum in the current fiscal with an estimated growth of 14-18% Y-o-Y. This follows the sharp increase of 18% in FY2024, which was primarily driven by realisations even as volume growth was subdued. A sharp 900 basis points (bps) cut in import duty in the Union Budget in July 2024 and consequent correction in gold prices for a brief period led to some pre-buying of jewellery as well as bars and coins during Q2 FY2025, which is generally a seasonally weak quarter. While gold prices were volatile, improving consumer sentiments and festive-led demand increased consumption in recent months. This, coupled with a higher number of auspicious and wedding days, and favourable monsoons aiding better rural output, is likely to help jewellery demand growth in H2 FY2025, in ICRA’s view. Revenue growth for organised jewellery in FY2024 had been supported by realisations with gold prices rising by ~14% YoY. The same trend is expected to continue this fiscal as well. So far in the current fiscal, the average gold price has risen by a sharp ~25% vis-à-vis FY2024 average price, despite occasional corrections – first, after the cut in customs duty in late July 2024 and then in November 2024, following the US elections and currency movements. The evolving global economic and geopolitical scenario and rising investment demand for gold have stimulated the continuing uptick in gold prices for the last seven quarters.

Mallikarjun Kharge while participating in the Constitution debate, attacked the ruling BJP for promoting "hate politics". Kharge also responded to Prime Minister Narendra Modi's «jumla» charge at the Congress and said that it's his government which was fooling people with false promises. Arguing against the BJP's charges, Kharge said that it was under the Indira Gandhi government in 1971 that the Indian forces divided Pakistan into two parts and liberated Bangladesh. He also urged the Centre to ensure the safeguarding of Hindu minorities in the neighbouring country. He said that BJP leaders keep abusing Jawaharlal Nehru as well as Mahatma Gandhi and then go on to give lectures on probity in public life. «Merely pointing fingers at each other won't help. The Jan Sangh had once aimed to structure the Constitution based on the laws of Manusmriti. This was the intent of the RSS. Those who despise the tricolour, the Ashoka Chakra and the Constitution are lecturing us. On the day the Constitution was implemented, these people burnt the effigies of Ambedkar, Mahatma Gandhi and Nehru at Ramlila Maidan. They insult the Nehru-Gandhi family without shame,» he said.

Prime Ministers' Museum and Library, and wondered what were in these documents which the Gandhi family didn't want to become public. BJP MP Sambit Patra cited reports of the Prime Ministers' Museum and Library's (PMML) deliberations on the issue to note that Nehru's correspondence with Edwina Mountbatten, wife of the last British viceroy to India, and eminent leaders Jayaprakash Narayan and Jagjivan Ram lay with the erstwhile Nehru Museum and Library Society, which returned them to Sonia Gandhi in 2008. Addressing a press conference, Patra said the historical documents belonged to the country and were not anyone's personal property.