Sustainability Financial News

FCI)." An amount of Rs 12200 crore has been released to the farmers in Punjab directly to bank accounts as of 28th October, it added. The procurement of paddy in Kharif Marketing Season (KMS) 2024-25 commenced on October 1, 2024, and 2,927 designated mandis including 1000 temporary yards have been opened throughout Punjab for smooth procurement of paddy.

dearness allowance (DA) of government employees in Uttarakhand was increased on Tuesday from 50 per cent to 53 per cent per month.All regular and full-time employees of the state government and officials associated with the UGC can avail of the increased DA with retrospective effect from July 1, 2024, according to an official statement. The arrears of dearness allowance from July 1, 2024 to September 30, 2024 will be paid in cash, it said. The allowance will be added to the regular salary from October 1, 2024.

The EdenTree Global Select Government Bond fund will be run by the firm's head of fixed income David Katimbo-Mugwanya, who already oversees three other portfolios. The Global Select fund will target at least 80% asset exposure to government and government-related green, social, sustainable or impact bonds. The proceeds from these bonds finance new or existing projects that support a reduction in carbon emissions caused by human activities and/or enable greater access to services that empower communities around the world. 'It is not free money': Bond market warns Reeves to tread car...

As the government considers imposing additional duties to curb the influx of cheaper steel imports, which are impacting domestic producers, the Engineering Export Promotion Council of India (EEPC India) as well as steel producer Jindal Steel have voiced their concerns about the potential effects of these protectionist measures. EEPC India, the organisation advocating for engineering goods exporters, is against limiting steel imports from cost-effective markets. According to the council, curbing steel imports from China will severely impact the engineering goods sector, especially MSMEs, which depend on competitively priced steel to sustain operations. “It is imperative to keep domestic steel prices competitive. The price differential between Chinese steel and Indian-produced steel is significant. This price advantage enables downstream industries, especially MSMEs, to remain competitive in domestic and global markets,” says Arun Kumar Garodia, Chairman of EEPC India.

business jets that also have the extravagance of superyachts. Famous names in this business — such as Gulfstream, Dassault and Bombardier — are engaged in a fierce battle to outdo each other, with more technology and luxury being crammed into their latest creations. The newer range of business jets are even more lavish, yet designed keeping sustainability in the mind. That’s because the owners of such aeroplanes are no longer focussed on just, say, gold fixtures or loud colours: “responsible luxury” has become the new buzzword for them. Gulfstream has been successful with the 650ER, but its new G700 is a significant step up as it comes with a set of new engines and an overhauled cabin design. The G700 is crucial for the planemaker because the demand for long-haul private jets has increased, in most part due to billionaires such as Jeff Bezos and Elon Musk owning this jet. After launching the 650 ER, Gulfstream returned to the drawing board to improve speed, range and roominess, and came up with the G700. The exterior design of the latest model remains elegant and restrained. But the interiors have seen a radical departure from the usual business jets.

biogas sector is rapidly emerging as a key player in the global renewable energy landscape as energy demands rise in emerging economies such as India. The urgent need to address climate change, enhance energy security and promote sustainable development also makes biogas an attractive option. Modern biogas technology significantly uplifts rural communities by creating economic opportunities and enhancing self-sufficiency, says Piyush Sohani, Country Director-India, Sistema.bio, in an interaction with ET Digital. The implementation of biogas projects generates jobs and allows farmers to sell excess biofertiliser, diversifying their income streams, he adds. Edited excerpts: The Economic Times (ET): What is the current standing of the biogas sector in the global renewable energy market. What are its projections, especially in emerging economies like India? Piyush Sohani (PS): The biogas sector is rapidly emerging as a key player in the global renewable energy landscape, projected to grow at a compound annual growth rate (CAGR) of approximately 5.2% from 2020 to 2030. This trajectory could elevate the market size to around $86.7 billion by 2030.

Subscribe to enjoy similar stories. Donald Trump’s campaign invited Tony Hinchcliffe, who hosts the popular podcast “Kill Tony," to do a comedy set at the former president’s rally at Madison Square Garden because of the comic’s popularity with young men, particularly after he sold out two shows at the same venue in August. The campaign didn’t know everything he would say, according to a campaign aide.

Subscribe to enjoy similar stories. Aggregate technical and commercial (AT&C) losses pose India’s electricity distribution sector a persistent challenge. These losses are often identified as one of the critical factors contributing to the financial distress of distribution companies (discoms).

ICICI Bank are currently trading around the Rs 1,292.85 level, maintaining their long-term uptrend. Recently, the stock broke out of a consolidation phase after pulling back from its higher levels. It has since stabilized near a key demand zone, trading in a consolidating range and signaling a potential trend reversal.

Multilateral development banks (MDBs) have embarked on reforms but the pace and ambition fall «well short» of what was recommended and what is required, said Lawrence Summers and NK Singh, who were co-conveners of the G20 Independent Expert Group on MDB Reforms under India's presidency last year. «In our view, the shortsighted approach of waiting until a crisis hits before acting forcefully on MDB reform will turn out to be a costly misjudgment. Time is not on our side,» they said in a latest report card on MDB reforms. Summers, president emeritus at Harvard University, and Singh, a former senior bureaucrat, had recommended a vision for better, bolder, bigger MDBs as a central tool to respond to the issues facing emerging markets and developing economies. The Brazilian G20 presidency this year has followed up by developing a road map of MDB reforms.

Middle East, India has solid oil reserves sufficient to last 12 days, with additional supplies in refineries that can sustain the country for about 18 days. However, any breakdown in the Strait of Hormuz lasting beyond 30 days could have significant lagging effects on the global economy and Indian markets, said former Indian Foreign Secretary Ranjan Mathai on Monday. “Moreover, there is concern that if a war spreads into the Gulf, it could affect the eight million expatriates living there,” he added. The diplomat made these observations while discussing “The Middle East Quagmire: Will the Iran-Israel War Spiral Further?” at an event organized by Synergia, a Bengaluru-based think tank. Speaking about the recent developments and Israel's decision to scale back its attacks on Iran, Mathai believes that US influence remains a key stabilizer in the region, as its presence deters large-scale conflict. “While Israel has formidable military and technological capacities, its vulnerabilities are showing. It currently needs U.S. assistance and must therefore rely on maintaining a solid line of communication with the decision-making authorities in Washington,” Mathai explained, adding that recent figures indicate as much as 40% of the next supply of missiles for the Iron Dome and Arrow will need to come from American sources.

cleanliness campaign, officials said on Monday. The special campaign 4.0 launched by the government, with Department of Administrative Reforms & Public Grievances (DARPG) as the nodal department, will attain its stated objectives of institutionalisation of cleanliness campaigns and reduction in pendency with a saturation approach, according to an official statement. Giving details of the campaign being carried out from October 2-31, the Personnel Ministry said it has led to earning of Rs 279 crore through scrap disposal, freeing up of 127 lakh square feet OF space for productive use and redressal of 4.27 lakh public grievances. The statement said 29.47 lakh physical files were reviewed and 17.58 were identified and 15.44 lakh weeded out, said the statement issued by the Personnel Ministry, adding that 3.51 lakh e-files have been reviewed.

Bharti Airtel’s consolidated net profit for the fiscal second quarter jumped 168% on-year on the back of strong average revenue per user (ARPU) growth and subscriber adds, although a Rs 318 crore exceptional loss caused it to miss estimates. The nation’s second-largest telco posted a consolidated net profit of Rs 3,593 crore, which missed estimates as analysts were expecting a consolidated net profit of around Rs 4,311 crore in the September quarter.

Merlin Group, Kolkata's largest real estate developer, is currently executing projects worth Rs 20,000 crore, which are expected to double its annual revenue over the next 7-8 years, a senior official said on Monday. The announcement coincided with the unveiling of the company's new brand identity. «We have been growing steadily year on year for the past 40 years. The group is currently developing 40 million square feet that is projected to yield a total sales of Rs 20,000 crore in the coming 7-8 years,» Merlin Group managing director Saket Mohta said. The current annual revenue of Merlin Group is about Rs 1500 crore, he stated.

Eastern Ladakh. The process includes removal of all types of infrastructure and pulling back of troops by both sides, reported ANI quoting sources. The entire process is expected to be completed by Tuesday, October 29. Earlier on Friday, the Chinese Foreign Ministry said the frontier troops of both India and China are engaged in «relevant work» in accordance with the agreement reached between the two nations on issues concerning the border.

Sarbananda Sonowal visited the Pandu Port Complex to review the ongoing construction activities including the Northeast India’s First Ship Repair Facility as well as the Elevated Road corridor. The Union Minister also met with the senior officials of the Ministry as well as the Inland Waterways Authority of India (IWAI), the nodal agency for the development of waterways in the country, to assess the progress of various projects being developed along the river Brahmaputra (National Waterways 2) with an investment of Rs 645 crores. Speaking on the occasion, the Union Minister, Sarbananda Sonowal said, “Waterways have always been the lifeline for the people along the river. Under the dynamic leadership of Prime Minister Narendra Modi ji, this important aspect of our civilization became a focal point of renewed attempt at finding sustainable solutions for economic development and prosperity.

Pension Scheme (EPS), which is overseen by the EPFO will receive their pension early on October 29, 2024, as per a circular issued by the retirement fund organization. According to the EPFO circular dated October 25, 2024, “Keeping in view the upcoming Diwali festivities and the associated public holidays, it has been decided to release the pension for the month of October 2024 on 29th October 2024. This aims to ensure that pensioners receive their pensions in advance without any delay and can withdraw their pension on 30th October as 31st October is a holiday” The EPFO has recommended that all Zonal and Regional Offices give the required directives to the banks that pay pensions under their purview in order to guarantee that the aforementioned is carried out.

C-295 aircraft facility inaugurated in Vadodara was earlier supposed to be set up in Nagpur and alleged that under Prime Minister Narendra Modi's instructions, the Centre and the Mahayuti dispensation have conspired to ensure the "wholesale surrender" of Maharashtra's interests. Congress general secretary in-charge communications Jairam Ramesh said the people of Maharashtra will give a befitting reply to the PM and his colleagues for their betrayal of the state. The opposition party's attack came after Prime Minister Modi and his Spanish counterpart Pedro Sanchez inaugurated the Tata Advanced System Limited (TASL)-Airbus facility to manufacture C-295 military aircraft in India. The Tata-Airbus facility is the first private sector final assembly line for military aircraft in India. «Today, the non-biological PM is in Vadodara to launch the Tata-Airbus C-295 aircraft facility. This exact same project was supposed to be set up in Nagpur, but was shifted to Gujarat in 2022 on the eve of the assembly elections there,» Ramesh said in his post on X.

crude prices and refining margins are likely forcing four of the five supermajor oil companies to borrow money to fund $15 billion in share buybacks for the most recent quarter, raising doubts over the payouts’ long-term sustainability. Exxon Mobil Corp., Chevron Corp., Shell Plc, TotalEnergies SE and BP Plc are expected to post a 12% dip in earnings from last quarter to a combined $24.4 billion when they report results this week, according to the average of analysts’ estimates compiled by Bloomberg. That will leave them all — except Shell — unable to cover their dividends and buybacks with free cash flow, which is expected to be 30% lower than a year ago.

agri-tech platform that creates a digital marketplace to connect buyers and sellers of farm products. It supports them with tools for order management, lead generation, logistics, distribution and route optimisation. In an interview with ET Digital, Yashasvini Kumar, COO, Innoterra, says that the company ensures farmers have access to essential resources such as information, insights, infrastructure, markets and capital. Kumar also says that Innotera aims to build India’s first digital B2B marketplace and fulfilment solution based on orchestration and agile trading. Edited excerpts: The Economic Times (ET): How is India’s agriculture sector placed? Yashasvini Kumar (YK): India’s agriculture sector is poised between contradictions — simultaneously massive in scale and opportunity yet lagging behind in infrastructure and investment. There are exciting consumer trends coming into play, including superfoods, nutraceuticals and a focus on regenerative agriculture, but balanced out by concerning trends in climate change and water reserves. The sector is ready for growth, investment and talent.