PAM Financial News

The meeting decided to launch mass operations against the Kuki militants responsible for the killing of six innocent women and children in Jiribam within seven days. The cases related to the killing of the six innocent Meitei women and children in Jiribam, the death of one Hmar woman who was burnt on 7 November 2024 in Jiribam, and the killing of one Meitei woman farmer in Saiton, Bishnupur district on 9 November 2024, are to be immediately handed over to the National Investigation Agency (NIA). The meeting also decided to declare the Kuki militants responsible for the killings of the six innocent women and children as an «unlawful organization» within seven days.

House of Anita Dongre (HOADPL) is initiating a buyback of its nearly 40% stake from US private equity firm General Atlantic (GA), executives aware of the development said. GA had acquired the stake in the owner of brands such as AND and Global Desi in the women's wear category about nine years ago. According to reports then, the PE firm had invested nearly ₹150 crore in Dongre's company in 2015. «There is continued uncertainty over recovery in revenue and earnings in the coming quarters due to weak demand growth outlook and reduction in Anita Dongre's scale of operations,» rating agency ICRA said in a January report on HOADPL. The report expects the company's revenue to decline to ₹500-₹550 crore in FY24 and FY25, from ₹606 crore in FY23, with an annual operating profit margin of 19-20%. The company is yet to file its FY24 earnings. A fashion retail veteran said brands like AND and Global Desi went from premium to mass and discounted heavily on online channels. «The product was reengineered as a result and lost its lustre in the process. Profit margins in the fashion industry should be robust so that it can be reinvested in the brand,» the person said.

RML started a pollution clinic last year. However, this year the number of patients is already up, highlighting the severity of air pollution across North India, especially the capital city, New Delhi. «We are seeing patients with breathlessness, blocked nose, itching in eyes and sore throat post Diwali,» said Dr Amit Jindal, consultant in respiratory medicine, RML hospital. «In the last few weeks, we are seeing a significant increase in respiratory complaints like asthma, chronic obstructive pulmonary disease (COPD), and bronchitis. „The number of patients are going up, already its more than last year,“ added Dr Ajay Shukla, Medical Superintendent, RML hospital.

air purifiers, indoor plants, remote work and online classes are all back in Delhi-NCR, as the thickening smog cover has once again left the national capital gasping for clean air in what has become an annual ordeal. Almost all companies including Deloitte, Coca-Cola, KPMG PepsiCo, Panasonic and Acer are encouraging work from home and/or have installed air purifiers and indoor plants at workplaces to keep employees safe. Companies selling air purifiers or air-conditioners fitted with air purifiers such as Panasonic, Acer and Sharp Business have seen a rise in demand not only from the metros but also tier-2 and 3 cities in neighbouring states like Haryana, Punjab and Uttar Pradesh, their executives told ET.

BJP Jiribam Mandal have resigned, citing the deteriorating situation in Jiribam and Manipur. Led by the BJP president of Jiribam Mandal, the group submitted their resignation letters expressing deep concern over the current political and social climate in the region. The Governor has constituted an Inquiry Committee to study the cause of the incident and the circumstances leading to it. The Committee has to submit its findings within 30 days.

As per the estimate by the PHD Chamber of Commerce and Industry (PHDCCI), production at over 3.4 million micro, small and medium enterprises in Punjab, Haryana and Delhi, employing about 7 million workers have taken a hit due to the smog. «In view of the same, the enforcement of Stage IV of the Graded Response Action Plan (GRAP) in the National Capital Region (NCR) has affected the transportation, halting all construction and demolition activities in the area, impacting the industrial activities, leading to rise in costs of production and delay in supply chains,» Hemant Jain, president, PHDCCI told ET.

US President Joe Biden for undermining US Vice President Kamala Harris's Presidential campaign after he dropped out of the US Presidential race in July, reported Huffpost. In a blog post on FiveThirtyEight, Nate Silver noted that Joe Biden assigned Kamala Harris pretty challenging tasks related to the US border and US voting rights while disrupting her campaign schedule which he eventually described as detrimental to her messaging. According to Huffpost, Nate Silver also pointed out that even as Joe Biden's internal polling indicated he was losing significantly in the US Presidential Election, at the same time, the White House reportedly suggested to reporters that Kamala Harris was a far weaker candidate than Joe Biden. Also Read: Cancer-stricken King Charles unable to control his son Prince William and brother Prince Andrew; here's what reports say

Donald Trump's audacious win over Kamala Harris and the sweep of both Houses of the US Congress by the Republican Party, two significant developments have set the stage for an emboldened Trump 2.0 administration: Trump's cabinet appointments have set off shock waves across Washington, underscoring his trademark unpredictability. These choices signal his intent to shake up the established order and reinforce his disruptive approach to governance — something cut short by his loss to Joe Biden in 2020. With far-reaching implications, Elon Musk has officially joined the Trump administration. Musk's inclusion comes as little surprise, considering his public support for Trump during the campaign, including a reported $100 mn-plus in campaign contributions.

Nagaraju M on Monday said he is «sceptical» about cryptocurrencies like Bitcoin and stressed on the need to adopt a cautious approach on such assets. Speaking at an event organised by SBI, Nagaraju backed the Reserve Bank's «careful» stance on such assets. It can be noted that the RBI has been vehemently opposing any recognition of crypto over the years on a slew of factors, primarily stemming from the financial stability concerns. «I am also very sceptical of cryptocurrency. Not now, not after becoming the financial secretary. Even as an individual, I am very doubtful of the entire scheme of cryptocurrency,» Nagaraju said speaking at an event organised by SBI.

Singapore Airlines CEO Goh Choon Phong on Monday said the airline group will support the ongoing transformation of the enlarged Air India Group by offering «our stewardship and expertise where possible» as he emphasised that Air India-Vistara merger marks a pivotal moment for Indian aviation. In his first comments after the completion of the merger on November 11, he also said that Singapore Airlines is committed to deepening its commercial collaboration with Air India. Vistara was a joint venture between Singapore Airlines and Tatas, and with the merger, Singapore Airlines has a 25.1 per cent in Tata Group-owned Air India. At a symbolic ceremony in the national capital on Monday, Tata Sons and Singapore Airlines celebrated the merger. Tata Sons Chairman Natarajan Chandrasekaran, Goh Choon Phong, as well as senior management and employees from Tatas, Singapore Airlines, Air India, and Vistara were present, according to a joint release by Singapore Airlines and Tata Sons.

Amazon Seller Services and Flipkart Internet, experienced robust growth in the fiscal year ending March 2024, reaching a combined total of Rs 11,621 crore. This marks an impressive 33% increase from the previous fiscal year’s Rs 8,705 crore, according to regulatory filings by both companies. Amazon Seller Services, the Indian marketplace arm of the global e-commerce giant Amazon, reported a substantial 24% increase in revenue from «other marketplace-related services,» amounting to Rs 6,649 crore—a notable rise from Rs 5,380 crore in the previous fiscal year. The «other marketplace-related services» category primarily comprises income from advertising, which is recognised based on clicks or impressions delivered to users.

Lawmakers face a December 20 deadline either to adopt a budget or to pass a so-called continuing resolution to keep federal agencies operating temporarily. A failure to act would mean governmental paralysis, AFP reported. The Congress, which has been in recess for more than a month because of the national elections, returns on Tuesday. Newly elected members are not sworn in until January.

MakeMyTrip on Monday announced that it has signed a Business Transfer Agreement to acquire Happay Expense Management Platform from CRED. The acquisition is in line with MMT's commitment for comprehensive corporate travel and expense management solutions, mentioned the company in a press release. Happay is a leader in expense management, with robust capabilities in product development, data-driven insights, and scalable solutions that consistently drive value and efficiency for clients. Under the agreement, Happay brand, its expense management business, and its dedicated team will transition to MakeMyTrip.

Content-to-commerce company The Good Glamm Group on Monday announced completion of 100 per cent acquisition of The Moms Co. The Good Glamm Group, in October 2021, acquired a majority stake in The Moms Co through a cash and stock deal, leading to partial exits for The Moms Co founders and full exits for investors like DSG Capital and Saama Capital. The remaining shares held by the founders were fully acquired by The Good Glamm Group over the last two years, wrapping-up the 100 per cent acquisition, according to a release. The latest announcement comes on the heels of the Group completing the Sirona transaction and its increases in shareholding in other portfolio brands Organic Harvest and Winkl.

Besides, a push for sustainable tourism and protection of natural resources, and the CM Elevate programme—a state-funded initiative to promote entrepreneurship and create jobs for the youth—which has already supported 20,000 entrepreneurs, including a “Ride the Cloud” initiative offering 50% subsidies for tourist taxis, is also on Sangma’s agenda. “For tourism to grow as a whole, and in terms of the entire ecosystem, multiple factors need to be addressed,” Sangma said. The annual Cherry Blossom Festival in the ‘Scotland of the East’ has attracted a record-breaking 50,000 plus tourists, almost double the number received last year. To continue with the momentum at the music festival, take the “music and tourism economy” growth story forward, and build the overall ecosystem on a larger scale, Sangma announced several ambitious projects during the festival. The skywalk and New Shillong township Mawkdok in the East Khasi Hills in Shillong is a must-stop tourist destination. Tourists, almost certainly, make a stop at Mawkdok during their visit to the Sohra (Cherrapunji) tourism circuit, making it a strategic location for a project as ambitious and futuristic as the skywalk.

NASA-German satellites found evidence that Earth’s total amount of freshwater dropped abruptly starting in May 2014 and has remained low ever since. The researchers suggested the shift could indicate Earth's continents have entered a persistently drier phase. «From 2015 through 2023, satellite measurements showed that the average amount of freshwater stored on land — that includes liquid surface water like lakes and rivers, plus water in aquifers underground — was 290 cubic miles (1,200 cubic km) lower than the average levels from 2002 through 2014,» said Matthew Rodell, one of the study authors and a hydrologist at NASA’s Goddard Space Flight Center in Greenbelt, Maryland.

NTPC Green Limited, a wholly owned subsidiary of NTPC Limited on Monday announced a 50:50 Joint Venture of with ONGC Green Limited (OGL), a wholly-owned subsidiary of Oil and Natural Gas Corporation Limited. ONGC NTPC GREEN PRIVATE LIMITED (ONGPL) will be engaged in exploring and setting up Renewable Energy (RE) projects and assets both through Greenfield development and acquisitions. It will also assess the feasibility and establishment of offshore wind projects, among other related activities.

Reportedly, there were a series of incidents that have caused rifts between senior party leaders, particularly Kailash Gahlot and other top AAP functionaries. The growing mistrust, sources claim, stemmed from Gahlot's increasing proximity to Delhi's Lieutenant Governor (LG) VK Saxena and his perceived shift away from the party’s central leadership.

Sunita Williams and Butch Willmore have been stuck in ISS for quite a while now due to a Starliner spacecraft malfunction and the public has been concerned about their health. In between the tensions and videos by Sunita Williams, Joe Biden recently revealed to an audience that his wife wishes to send him to space. Recently, US President Joe Biden cracked a joke about being sent to space to rescue astronauts Sunita Williams and Butch Wilmore at the APEC summit in Peru. Biden made the comments while discussing space exploration with Peru President Dina Boluarte Zegarra at a bilateral meeting. ALSO READ: 'My Body Has Changed': Sunita Williams shares latest health update and changes she is experiencing after months in space