PAM Financial News

From blockchain developers to smart contract specialists, professionals across domains are vying to acquire in-demand skills, as companies, particularly in banking and IT, embrace blockchain for secure and scalable solutions. The post-2021 bull run and NFT boom have introduced blockchain to the mainstream, creating a wave of professionals eager to transition into the crypto and Web3 space.

Thyssenkrupp Marine Systems (TKMS), which is bidding for a major contract to manufacture six new diesel electric submarines in India for a Navy order, said it is looking to expand its footprint and has pitched for the creation of a joint warship building hub, estimating that it can be up to 50% cheaper to make submarines and warships here. «Together with MDL (Mazagaon Dockyards Limited, which is the partner for the submarine contract), there could be a hub for technology, which will generate more orders. This is really an opportunity to go beyond the P75I (the submarine contract), which will generate, of course, more jobs,» TKMS CEO Oliver Burkhard said.

Visiting UAE foreign minister Sheikh Abdullah Bin Zayed Al Nahyan and external affairs minister S Jaishankar, among other issues, focused on the power vacuum and absence of institutional governance in Syria amid pro-Al Qaeda-ISIS transition government taking over power, it is learnt. The two sides are also understood to have discussed implications of the Syrian developments and ISIS-Al Qaeda gaining in strength in the region. The Gaza-Lebanon situation is also understood to have been discussed.

While Lauritz Knudsen and Mumbai Indians have declined to comment on the financial details, the deal is estimated to be worth approximately ₹40 crore per year, totaling ₹120 crore over three years. This agreement surpasses the previous ₹30 crore-per-year deal that the franchise had with the fintech company Slice. Lauritz Knudsen, formerly known as L&T Switchgear and part of the Schneider Electric Group in India, aims to boost its visibility in the country through its association with the Mumbai Indians.

Supreme Court on Thursday directed the Delhi government and NCR states to take a final call on banning firecrackers throughout the year. A bench comprising justices Abhay Oka and Augustine George Masih directed the states to take a final call in this regard and communicate the same to the top court. The ban is required to curb not only air pollution but also noise pollution, the bench said.

He observed that the share of middle-income countries in global GDP has grown, but their productivity and efficiency remain significantly below those of high-income economies. He added that India is better positioned than many of its peers to navigate the current global challenges. «Time is of essence for India to accelerate its structural reforms and the changes needed are not happening quickly enough,» he said, asking policymakers to capitalise on economy's strengths while addressing inefficiencies and fostering institutional resilience.

He reiterated that real economic growth this fiscal year will remain in the 6.5-7% range, as projected in the Economic Survey, despite the deceleration in the September quarter to 5.4%. The CEA was speaking at CII's Global Economic Policy Forum. Nageswaran said while the increase in the capital formation ratio since the pandemic is largely driven by the public sector, the private sector, too, has started to invest — something that will be more discernible in the coming years.

Indian Light Tank (ILT) has been developed to boost the Army's combat capabilities along the frontier with China. The latest trial of the tank followed the phase-one trial in the desert environment in September. «The Indian Light Tank has achieved a major milestone by firing a number of rounds at different ranges at an altitude of more than 4200 m, at a high altitude location with consistently accurate results,» the ministry said.

commerce secretary Sunil Barthwal said Thursday. He also said that the world needs to avoid protectionism, which creates more trade barriers and hinders movement of goods. Emphasising that one needs to avoid a mercantilist approach and should not bother too much about trade balance and imports, Barthwal said: «Because if the Indian economy is growing 7% and if the world is growing at 3-3.5% rate of growth then obviously India will be requiring more of consumption, more of imports and let me tell you that the role of imports in exports is also very, very important».

Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect US clean energy businesses. The notice from the US Trade Representative's office said tariffs on Chinese-made solar wafers and polysilicon will rise to 50% from 25% and duties on certain tungsten products will increase from zero to 25%, effective on Jan. 1, following a review of Chinese trade practices under Section 301 of the 1974 Trade Act. The decision followed a public comment period after the USTR said in September that it was considering such actions.

Yellowstone Season 5 Finale date is nearing as the Peacock's popular show will end ahead of Christmas 2024. Yellowstone Season 5 Finale is scheduled on Sunday, December 15 at 8 pm (ET). The show will be telecast on Paramount Network. Even though Yellowstone Season 5 Finale is almost here, there is no clarity over whether there will be season 6 or not. There are rumours that Yellowstone Season 5 Finale may witness a showdown among Jamie, Beth and Rip.

edible oil import rose 38.5 per cent to 15.9 lakh tonne in November mainly due to sharp jump in shipments of crude sunflower oil and crude soyabean oil, according to industry data. On Thursday, Solvent Extractors' Association of India (SEA) released the data of import of vegetable oil (edible and non-edible ) for November. As per the data, import of vegetable oils during November, the first month of the 2024-25 oil marketing year, rose 40 per cent to 16,27,642 tonne compared to 11,60,590 tonne a year ago. Out of total vegetable oil import, India imported 15,90,301 tonne of edible oil in November as against 11,48,092 tonne in the same month last year. Import of non-edible oils increased to 37,341 tonne compared to 12,498 tonne in November 2023.

mutual fund inflows fell 14% last month, midcap and smallcap funds registered a growth of 4% and 9%, respectively, in November. Both the categories are now outperforming largecaps this month. The mid cap funds in November received an inflow of Rs 4,883 crore and contributed around 13% to the total inflows of Rs 35,943 crore in equity mutual funds. The category received an inflow of Rs 4,682 crore in October. In FY25 so far, the mid cap funds have received an inflow of Rs 24,322 crore. Also Read | Debt MFs inflows decline 92% in November. Will it regain attraction?

Tamil Nadu BJP President K Annamalai on Wednesday defended meeting industrialist Gautam Adani, calling it «not a sin» and accusing Congress and DMK of misleading the public with their protests over Adani's ties to the party. «He is a businessman in our country. Every single state government wants to roll a red carpet for inviting big industrialists to their global investor summit. It is the Congress and DMK MPs that started this bogus protest outside the Parliament saying that 'Adani-BJP Ek Hai.' Since CM (MK Stalin) said he has not met Adani, we are making a charge against him. Don't hoodwink Tamil Nadu people… You should acknowledge that Adhas done business in Tamil Nadu,» Annamalai said. Meanwhile, Congress on Tuesday denied BJP's allegations of links to billionaire George Soros. Congress spokesperson Supriya Shrinate called the claims «baseless» and said they were a diversion from the Adani controversy.

Supreme Court is set to hear a series of Public Interest Litigations (PILs) today, challenging the validity of specific sections of the Places of Worship (Special Provisions) Act, 1991. This law prohibits filing lawsuits to reclaim or alter the character of places of worship as they stood on August 15, 1947. The matter will be taken up by a three-judge bench comprising Chief Justice Sanjiv Khanna and Justices Sanjay Kumar and K V Viswanathan.

Delhi Jal Board (DJB) announced that parts of South Delhi will face water supply disruptions on the morning of December 12 due to maintenance work, as reported by PTI.

Donald Trump on Wednesday said he was picking Kari Lake, a former news anchor and a hardline Republican who failed to win an Arizona Senate seat last month, to be the director of U.S. government-funded media outlet Voice of America. Trump, in a post on his Truth Social site, said Lake will «ensure that the American values of Freedom and Liberty are broadcast around the World FAIRLY and ACCURATELY, unlike the lies spread by the Fake News Media.» Lake, a strong Trump supporter who has echoed his false claims about fraud at the 2020 election, also lost the governor's race in swing state Arizona in 2022 and was previously an anchor at Phoenix-based Fox 10.

Pakistan-occupied Kashmir (PoK) was apprehended after he illegally crossed over into the Indian territory along the Line of Control (LoC) in Poonch district of Jammu and Kashmir, officials said on Thursday. «One PoK national Saliiq son of Khalid resident of Bandi Abbaspur deliberately crossed over into Indian Territory. Alert troops of the Indian Army deployed on the Line of Control in the Gulpur sector apprehended the PoK national while he was illegally crossing into Indian Territory,» the Poonch Police said. Further investigation is underway and more details are awaited.

The justices, who heard arguments on November 13 after earlier deciding to take up the case, dismissed Nvidia's appeal of a lower court's ruling that allowed a 2018 class action — litigation led by the Stockholm, Sweden-based investment management firm E. Ohman J:or Fonder AB — to move forward. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been granted. Its action leaves the lower court's decision in place.

alimony in divorce cases. In a landmark decision, a bench of Justices Vikram Nath and Prasanna V. Varale laid down eight criteria to serve as a reference point. The court highlighted that the framework should ensure fairness, stating, “It is necessary to ensure that the amount of permanent alimony should not penalise the husband but should aim at ensuring a decent standard of living for the wife.”