PAM Financial News
22.10 / 16:13
markets
Citi
Citizens
PAM
social
recommendations
Schools
Govt recommends WFH for companies, under-construction building collapses near KR Puram
work from home on Wednesday, October 23, due to a heavy rain forecast in the Bengaluru Urban district. This would be the second time in two weeks that the government has recommended WFH for private companies. “The India Meteorological Department (IMD)—Met Centre Bengaluru has issued a yellow warning for Bengaluru Urban, effective from 1:30 PM on October 22 to 8:30 AM on October 23. The warning indicates potentially bad weather conditions due to heavy rainfall,” said Champa E, General Manager of KITS, adding that the safety and well-being of the employees should be prioritised in such circumstances. Bengaluru Urban District Commissioner G Jagadeesha also issued a directive declaring a holiday for all schools; however, there is no such order for colleges.
22.10 / 16:13
markets
Booking
Aviat
Airlines
MakeMyTrip
PAM
travelers
Online travel companies told to make SOPs for refund process
online travel agents (OTAs) and industry bodies to develop standard operating procedures (SoPs) and transparent policies to process refunds, to address widespread complaints from travellers about irregularities and transparency issues in air ticket cancellation refunds. The ministry has written to companies such as MakeMyTrip, Yatra, EaseMyTrip, Thomas Cook and Cleartrip and industry bodies including Indian Association of Tour Operators (IATO) and Travel Agents Association of India (TAAI), stating there is an “urgent need” to bring in transparency in the cancellation refund process. ET has seen a copy of the letter dated October 15.
22.10 / 15:35
22.10 / 15:35
Remark
President
PAM
show
social
Videos
Viral video: Trump serves an Indian-origin couple at McDonald's, their heartfelt interaction takes internet by storm
Donald Trump had made it possible for ordinary people like them to connect with a sitting president. Trump wore a black-and-yellow apron over his white shirt and red tie as he served fries and chatted with customers at the McDonald's. When Trump was working at the takeout counter, he was greeted with a cheerful «namaste» by an energised Indian-origin couple. As the presidential hopeful served fries and interacted with customers, Trump showed his signature charm, saying «I like this job. I think I might come back and do it again.» His comments were met with enthusiasm from patrons, including that Indian-origin couple who expressed their admiration from him.
22.10 / 15:35
markets
Digital
Strategy
Southern
PAM
innovations
testing
Army showcases integration of indigenous technologies at training exercise
Swavlamban Shakti at the Babina Field Firing Ranges. More than 1,800 personnel, 210 armoured vehicles, 50 specialist vehicles, and multiple air and aviation assets participated in this exercise conducted by White Tiger Division under Sudarshan Chakra Corps over six days from October 17. The Sudarshan Chakra Corps is a strike corps of the Army and is headquartered in Bhopal. This large-scale manoeuvre and live-fire exercise focused on testing New Technology Equipment (NTEs) from the Indian defence industry, to shape future combat strategies.
22.10 / 15:35
COST
Election
President
Experts
PAM
Interviews
Should Kamala Harris opted for an interview with Elon Musk on X? She rejected the offer and it could prove costly
Mark Cuban has voiced his opinion on the «Squawk Box» of CNBC that he had the offer of facilitating a meeting between Tesla Motors CEO Elon Musk and Democratic Presidential candidate Kamala Harris. According to The Hill, the campaign of Kamala Harris has rejected this proposal stating the concern about the potential of Elon Musk of misrepresenting the conversation on X while Mark Cuban also mentioned that they just do not trust Elon Musk as he can do something to distort the purpose of the meeting. In response to the comments of Mark Cuban, Elon Musk wrote on X sharing his desire to be involved in a live discussion session for preventing any kind of misinterpretation. Though later, Mark Cuban rectified his earlier remarks with the suggestion that he should have used ‘disclosure’ instead of using the term ‘distortion’, reported The Hill. Also Read: Has Kanye West ditched co-parenting? Kim Kardashian is pretty much a single mom to her 4 kids, the rapper not around very much
22.10 / 13:27
markets
Digital
film
PAM
social
stars
reports
Are they seriously dating? Angelina Jolie and Akala spend two nights together in London hotel
Angelina Jolie and British rapper Akala are allegedly getting closer. Angelina Jolie, 49, and her alleged boyfriend Akala, 40, spend two nights together in her London hotel. According to a report by Page Six, the 49-year-old ‘Maleficent’ star secretly brought the 40-year-old musician to her hotel suite at The Corinthia in London last week. Akala joined the actress two hours after her arrival. The pair spent Wednesday and Thursday nights together inside the hotel and did not leave.
22.10 / 13:27
markets
Target
Digital
Remark
Experts
PAM
Videos
Hezbollah claims drone attack on Israeli PM Benjamin Netanyahu's residence
Hezbollah claimed responsibility Tuesday for a drone attack last week targeting the home of Israeli Prime Minister Benjamin Netanyahu, and acknowledged that some of its fighters have been take captive by the Israeli army. Hezbollah spokesman Mohammed Afif made the remarks during a press conference in Beirut's southern suburbs that was cut short following an Israeli evacuation warning for the area. An Israeli strike hit a target hundreds of metres (yards) away from the site of the conference just minutes after journalists left, an AFP video journalist said.
22.10 / 13:27
markets
Provident
Digital
Experts
PAM
testing
infection
Manipal Group's diagnostic arm acquires Mumbai-based iGenetic
Manipal HealthMap, the diagnostics arm of Manipal Group, on Tuesday said it has fully acquired Mumbai-based iGenetic Diagnostics for an undisclosed amount. Sources told ET that the deal size would be around Rs 200 crore. With this acquisition, Manipal HealthMap is set to strengthen its presence in key markets, including Maharashtra, Madhya Pradesh, and Karnataka, while expanding its pan-India reach. The acquisition will also complement Manipal HealthMap’s existing portfolio, particularly in specialized testing areas such as oncology, infections, fertility, and more.
22.10 / 13:27
markets
UPS
Digital
economy
pandemic
PAM
India’s GDP growth unchanged at 7% for FY25 by IMF
IMF) has maintained India’s growth forecast at 7% for FY25, consistent with its July prediction, highlighting that the "pent-up demand" during the pandemic is diminishing as the economy returns to its potential. It is 0.2 percentage points up from the April outlook. For FY26, the forecast stands at 6.5%. The projection is higher compared to both advanced and emerging economies. The global economy is expected to slow to 3.2% in 2024 from 3.3% in the year before.
22.10 / 13:27
markets
Digital
Experts
PAM
reports
recommendations
prevention
Use mining byproducts to make sand for construction projects: Coal Ministry report
Overburden (OB), the by product from mining operations, and process it to produce Manufactured-Sand (M-Sand), which can be used in construction projects. This move will reduce dependency on river sand and preventing environmental degradation, a Coal Ministry statement said. To make this possible, public-sector undertakings (PSUs) have commissioned four OB processing plants and five OB-to-M-sand pilot plants. Additionally, six more OB processing and OB-to-M-sand plants are currently in various stages of installation within the Coal/Lignite PSUs, the statement added. These plans have been listed in a report by a High-Powered Expert Committee (HPEC) of the Coal Ministry. The report has recommended that coal companies can be mandated to practice mining of other minerals present in OB strata or gainful utilization of OB for economic value rather than mining of just coal.
22.10 / 12:25
22.10 / 12:25
markets
Cooper
Strategy
Apple
Celebrity
PAM
Schools
Amit Shah inaugurates welfare schemes at NDDB's Diamond Jubilee celebration at Anand
Amit Shah on Tuesday inaugurated welfare schemes at National Dairy Development Board's (NDDB) diamond jubilee celebration at Anand. “To place a cooperative produce in the market through branding and empowering cooperatives to compete properly with the corporates is our success, claimed Union Home Minister and Minister of Cooperation Amit Shah. He was inaugurating several farmer welfare schemes worth Rs 300 crore during the National Dairy Development Board's (NDDB) diamond jubilee celebration along with the commemoration of birth anniversary of Shri Tribhuvandas Patel in Anand. Speaking on the occasion, Shah said “Today, our Amul brand holds the top position globally, which is a significant achievement for us” adding that farmers of apricots from Ladakh, apples from Himachal, and pineapples from Meghalaya will benefit from the initiatives launched today.
22.10 / 08:33
markets
Digital
Manufacturing
Trade
Experts
War
PAM
India loses to rivals as US diverts trade from China, study says
US-China trade war have fallen short, according to a new study, with other Asian rivals benefiting to a much greater extent from escalating tensions between the world’s biggest economies. Between 2017 and 2023, India’s total share in US imports rose by 0.6 percentage points to 2.7% while mainland China’s portion dropped by around 8 percentage points to under 14%, according to Oxford Economics. The biggest beneficiary from the trade diversion in the region has been Vietnam, whose total share in US imports grew by 1.7 percentage points to 3.7% in the period. Taiwan and South Korea have also made greater strides than India, increasing their share of US imports by 1 percentage point and 0.7 percentage points, respectively, according to Oxford.
22.10 / 08:33
markets
Digital
Gap
Experts
PAM
reports
guidelines
Regulatory changes set to slow gold loan growth: CRISIL report
gold loan growth. The lenders will have to revisit policies and processes to ensure compliance, it said. The Reserve Bank of India (RBI) recently flagged certain irregular practices in the loan against the gold jewellery space and asked lenders to comprehensively review their policies, processes and practices to identify gaps and initiate remedial measures in a timebound manner. This could potentially impact gold loan disbursements during the transition phase and curb growth in the business. The circular is addressed to the supervised entities (SEs) of the RBI — all commercial banks, including small finance banks, primary (urban) co-operative banks and non-banking financial companies (NBFCs). Some areas highlighted in the circular of deficiencies in the monitoring of the loan-to-value (LTV) ratio, asset classification norms for overdue loan accounts, and inadequate due diligence in monitoring the end-use of gold loans among others.
22.10 / 08:19
markets
Digital
Allianz
Trade
Experts
PAM
reports
Allianz considering an exit from Bajaj insurance JVs
Bajaj Finserv on Tuesday said that German company Allianz SE is actively considering to exit from the life and general insurance joint ventures (JV) with Bajaj Group, ending a partnership of over two decades. Bajaj Finserv holds a 74 per cent stake in the JV. It's shares were trading at Rs 1744.05 apiece on the BSE, down 0.85 per cent. Allianz, which holds the remaining 26%, has indicated its strategic priorities have shifted, prompting the potential exit.
22.10 / 07:27
22.10 / 04:29
markets
UPS
CEO
Healthcare
Experts
PAM
Schools
Peak XV's Surge selects 14 startups for tenth cohort; focuses on AI, financial services
Surge, Peak XV’s programme for early-stage startups, has selected 14 startups for its tenth cohort, focusing on artificial intelligence (AI), financial services, consumer sectors and healthcare. Rajan Anandan, managing director of Peak XV, told ET that this is Surge’s most broad-based cohort, both geographically and across sectors. This also marks Surge’s second cohort since Peak XV Partners was formed following the split from Sequoia Capital.
22.10 / 04:29
markets
Waters
Experts
PAM
track
Schools
China holds live-fire drills opposite Taiwan, a week after large-scale exercise
The live fire drills were being held near the Pingtan islands off Fujian province from 9 a.m. to 1 p.m., according to a notice from the Maritime Safety Administration. It warned ships to avoid the area. It did not offer additional details. Taiwan's Defense Ministry said China's drills were part of an annual exercise and was tracking them. «It cannot be ruled out that it is one of the ways to expand the deterrent effect in line with the dynamics in the Taiwan Strait,» the statement added.
22.10 / 02:39
markets
Citi
Digital
Strategy
Experts
PAM
Schools
Bengaluru weather: More thunderstorms for today as rains to continue this week; Here's IMD forecast
«Bengaluru can expect a cloudy sky today, accompanied by light to moderate rainfall and thunderstorms in both urban and rural areas. The maximum temperature in the city is expected to be 29 degree Celsius while the minimum is expected to be 21 degrees Celsius,» according to the IMD. India's weather agency excpects more rains in the Karnataka capital city, Bengaluru, today i.e. on October 22. Yesterday, due to the incessant rain, the District collector had declared a holiday for Anganwadis, schools in the city. However, no notice for extension of holiday is released.
22.10 / 02:39
markets
Digital
Strategy
BAY
Experts
PAM
Schools
Cyclone Dana: Balasore and other areas announce holidays for schools from Oct 23-25; Here's full list
Cyclone Dana, schools to remain closed in Ganjam, Puri, Jagatsinghpur, Kendrapara, Bhadrak, Balasore, Mayurbhanj, Keonjhar, Dhenkanal, Jajpur, Angul, Khurda, Nayagargh and Cuttack districts from October 23 to 25. India Meteorological Department (IMD) has predicted heavy rainfall in Odisha in the upcoming week as Cyclone Dana is expected landfall on October 24. Speaking to ANI, IMD scientist Soma Sen Roy said that warnings have been issued for coastal Odisha and Andaman and Nicobar Islands due to the impact of the landfall.
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