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The Economist called it “philanthrocapitalism". Two decades on, however, it has become clear that all this paperwork puts the brakes on giving. The 400 richest Americans have given away just 6% of their combined fortunes, according to Forbes.

₹10 billion ($120 million) to commit to giving away a quarter of their wealth. Governments are doing their part to encourage giving, too. In Singapore, a financial hub where many well-off Asians store their wealth, the government has used a series of tax incentives to promote the city-state as a centre for philanthropy.

fiscal deficit target at 5.3% of GDP and keep disinvestment proceeds estimates to below ₹50,000 crore in the interim budget for 2024-25. The fiscal deficit, which is the indication of government borrowing to bridge the gap between total revenue and expenditure, is estimated at 6% of GDP in the current financial year, a tad higher than 5.9% projected in the Budget presented in February, last year.

Tata Motors recently revealed its highly anticipated Punch EV, and it is now open for bookings with an initial amount of ₹21,000. The introduction of the Punch EV is anticipated to strengthen Tata Motors' position in the Indian electric car market, where the company currently commands an impressive 85 percent market share, reported HT Auto. Reportedly, the Tata Punch EV is set to be available for purchase in India around mid-February 2024, with an ex-showroom price ranging between ₹12 lakh and ₹14 lakh.

With investors now firmly expecting the Federal Reserve to start cutting interest rates at some point this spring, Thursday’s CPI inflation report will likely be key in determining the U.S. central bank’s policy moves in the first half of 2024.

Investing.com — U.S. futures edged higher Thursday, ahead of the release of the December inflation data which could guide market expectations over potential Federal Reserve rate cuts this year.

All eyes are turned on the upcoming release of the US inflation report scheduled for 13:30 GMT, with the potential to ignite much-needed volatility for the US dollar index and FX markets in general after a rather subdued period so far this week.

Investing.com — U.S. stock futures edged higher Thursday, adding to the previous session’s gains ahead of the release of key U.S. inflation numbers for December, which could play into how the Federal Reserve approaches potential interest rate reductions this year. 

Investing.com -- Traders are awaiting key U.S. inflation numbers for December, which could play into how the Federal Reserve approaches potential interest rate reductions this year. Elsewhere, the U.S. Securities and Exchange Commission approves several applications to create spot Bitcoin exchange-traded funds, in a landmark decision for the cryptocurrency industry.

Dealshare said it has appointed Kamaldeep Singh as its CEO. Post the development, another cofounder Sourjyendu Medda has also left the firm joining Vineet Rao and Sankar Bora who moved on from DealShare. Singh joined Dealshare in December 2022 as president of the retail business at the Bengaluru-based firm. He was previously the chief executive of BigBazaar. Singh's appointment comes after an investor-led restructuring at the firm. ET reported in November last year about Singh being the frontrunner for the post of Dealshare CEO.

TCS) on Thursday announced its third quarter results. The company reported a net profit of ₹11,432 crore in the September quarter, registering a growth of 8.7 per cent, compared to ₹10,431 crore in the corresponding period last year. Meanwhile the attrition rate declined further to 13.3% during the same period.

₹14.71 lakh crore till January 11, the income tax department said on Thursday. The gross collection is 24.58 percent higher than the corresponding period of last year, added the government. Apart from this, the government mentioned that the direct tax collection, net of refunds, stands at ₹12.31 lakh crore which is 19.55 percent higher than the net collections for the corresponding period of FY 2023-23.

NEW DELHI : Visakhapatnam, Ghaziabad and Faridabad are emerging as India’s newest new e-commerce hotspots, according to a new report evaluating the potential of 100 major cities for digital commerce. Bengaluru, Mumbai and Delhi, as expected, top the list, according to the India Digital Commerce Index report by consulting firm Kearney and e-commerce marketplace Meesho. “The second cohort of cities includes the major tier 1 cities of Chennai, Hyderabad, Kolkata, Ahmedabad, and Pune," the report stated, adding that India’s e-commerce market is expected to be valued at roughly $200 billion by 2026.

startup Ninjacart has reported a 19% rise in operating revenues to Rs 1,153.5 crore in the financial year ended March 2023. Losses during the period rose to Rs 326.4 crore from Rs 307.9 crore a year ago. The Tiger Global and Flipkart-backed company expects to post a net profit by the end of fiscal 2026.

Tata Consultancy Services reported a net fall of 5,680 employees in headcount in the third quarter (Q3) of FY24 taking the overall headcount to 603,305 as on December 31, 2023. The headcount in the December quarter fell by 10,669 compared to the year-ago period.

Tata Group's investment for the fab manufacturing in Gujarat will be «very big» and a Cabinet note seeking approvals for the project will be moved «very soon», Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Thursday. Speaking at the biennial Vibrant Gujarat Global Summit here, Vaishnaw said the Tatas' proposed investment is important because it will be serving a wider spectrum of opportunities, right from fab to OSAT (Outsourced Semiconductor Assembly and Test). Vaishnaw said the fab proposed in Dhooera will be a semiconductor chips manufacturing factory, which will be a «very big investment».

NEW DELHI : India is considering import duty cuts on components key to producing high-end mobile phones, two government officials said, which would potentially be a boost for companies like Apple and the country's exports. Companies in the sector have been pushing for cuts on nearly a dozen components to reduce the cost of making smartphones in India and level up the playing field with regional competitors such as China and Vietnam. India's electronics and information technology ministry is firming up the proposal, including the size of the duty cuts, and hopes it can be included in the federal budget on Feb.1, one official said.

₹1,250 crore to set up operations in the state and support Micron's semiconductor plant. Work on setting up the plant will start in March, Vaishnaw added.

Pran Prathista’ ceremony in Ayodhya on January 22, months before the country heads to the polls. In a statement, the Congress said that its senior leaders would not be attending the inauguration ceremony of the Ram temple in Ayodhya on January 22. “Lord Ram is worshipped by millions in our country" and “religion is a personal matter", read the party statement.

Jaguar Land Rover on Thursday reported record sales at 3,582 units for nine months ended December 31, 2023. The company said its sales rose 93 per cent year-on-year as compared to the April-December period of the last fiscal. Range Rover and Defender continue to lead with a year-on-year (YoY) rise of 250 per cent, contributing to over 75 per cent of the current order book, the automaker said. In the October-December quarter, the company reported a 74 per cent YoY growth, achieving retail sales of 1,226 units, it added. The newly launched Range Rover Velar witnessed a YoY sales growth of 183 per cent in the quarter, JLR said. «Over the past nine months, JLR's progress in India has been characterised by consistent and substantial growth. Each quarter has shown an impressive year-on-year surge of nearly 100 per cent,» JLR India Managing Director Rajan Amba said. The burgeoning order bank and continuous order intake signal a robust demand, underscoring promising future prospects, he added. "...the eagerly awaited Range Rover BEV has generated significant interest among clients across the country, and with our upcoming launches this quarter, we are poised to sustain our remarkable growth trajectory in India," Amba said. The company's order book at the end of the third quarter remained strong with a YoY growth of 92 per cent, it stated. The current total order book covers more than eight months of sales and is seeing a consistent increase month-on-month, it added.

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