UPS Financial News

Delhi-NCR's red-hot real estate market, even a ₹5 crore budget may not guarantee a home in a brand-new project of a reputed developer in a prime locality. With homes priced at ₹6 crore and above getting sold out within hours of launch, developers are not keen on launching smaller sized apartments, forcing end users to wait for the current uptick in the market to stabilise. The trend is also worrying industry experts as it is giving rise to speculative buying which might eventually cause a bubble in the property market. «In the last 18 months, prices have almost doubled in the majority of the micro-markets in NCR and developers are also not launching smaller sized apartments. Both the factors have taken away the opportunity for middle class buyers to own a home in the current situation. While the per sq ft prices may not come down, developers may have to reduce size to offer something in below ₹5 crore category,» said an industry expert.

Indian airlines to get more business from global firms such as Airbus and Boeing. And they also want a helping hand from the government through a policy push. «We have to be in line with what our procurement of aircraft is. If India has a 10% share of the order book, it should also have a 10% procurement share — it's a fair ask,» said Aravind Melligeri, chairman of components maker Aequs Aerospace, which is one of the top suppliers to Airbus. IndiGo, Air India and Akasa currently have an order book of close to 1,700 aircraft from Airbus and Boeing, aviation consultancy firm CAPA said. That will increase to as much as 2,000 by March 2025.

TIVOLT Electric Vehicles, a joint venture between the diversified conglomerate the Murugappa Group and TI Clean Mobility, has drawn up plans to launch e-small commercial vehicles under the 'Montra Electric' brand, the company said. The launch of the e-SCV is expected to bring about a significant change in mid-mile and last-mile mobility sectors. The development of the e-SCV would be a culmination of extensive research and rigorous testing, a company statement said here on Tuesday. «Montra Electric represents our commitment to enhancing life through eco-friendly mobility solutions, ushering in a new era of growth and innovation for us. The electric vehicle industry is experiencing an exciting phase of development, not only in India but globally. We have dedicated our top resources and time to develop this product and are looking forward to the customer response upon its launch in coming months,» said Tube Investments of India (TII), Executive Vice-Chairman Vellayan Subbiah.

Congress' campaign trail. BJP is also smarting under the remarks made by its Karnataka leader Anantkumar Hegde, who in the run-up to the Lok Sabha polls said that BJP would need a two-thirds majority to change the Constitution. This has turned into a convenient weapon in the Maharashtra Opposition parties' arsenal as they have successfully spun out a narrative that if BJP comes to power, it would remove reservations for SCs, STs and OBCs. BJP has got vibes from the ground that there is a consolidation of Scheduled Caste community votes against BJP in the state. BJP has tried to counter this charge with the PM repeatedly alleging 'Congress injustice' on SCs, STs and OBCs and pointing to Karnataka's reservation for Muslims under the OBC quota. BJP's repeated emphasis on SCs, STs and OBCs comes as it senses that poll arithmetic in Maharashtra has changed considerably since the 2019 parliamentary polls. This time it looks like the Dalits and Muslims seem to be backing Congress-Sena-NCP (SP) alliance in the state.

Aam Aadmi Party on Tuesday said the party's Rajya Sabha MP Swati Maliwal was harassed by chief minister Arvind Kejriwal's personal assistant and strict action would be taken against him. Over 24 hours after Maliwal made calls to the police and alleged that she had been assaulted by Kejriwal's assistant Bibhav Kumar on Monday morning, the party finally broke its silence and condemned the incident. Addressing a press conference on Tuesday, AAP senior leader Sanjay Singh said it is a «condemnable incident». «Yesterday, Swati Maliwal had gone to meet Arvind Kejriwal at his residence. While she was waiting to meet him in the drawing room, Bibhav Kumar came and misbehaved with her. This is a highly condemnable incident. Kejriwal has taken cognizance of it and will take strict action in the incident,» Singh said. This is the first statement from the party. AAP had maintained silence over the incident on Monday.

Congress-Samajwadi Party alliance campaign is picking up pace, with more frequent shows of unity by the top leadership. Party leaders from both parties say that unlike 2017, the cadres of two parties are coordinating well on the ground. On Tuesday alone, while Akhilesh Yadav and Rahul Gandhi held a joint address in Jhansi, senior SP leader Shivpal Yadav and Congress chief Mallikarjun Kharge held joint addresses in Maharajganj and Bansgaon. Akhilesh and Rahul Gandhi are also expected to hold a joint address in Raebareli on May 17.

'Kudlow' panelists Kevin Brady, Art Laffer and Sandra Smith discuss how 'Bidenomics' is falling flat with voters.

President Joe Biden says in defending his new tariffs on Chinese products that China's government subsidies ensure its companies don’t have to turn a profit, giving them an unfair advantage in global trade

Recreational marijuana could be available for sale in Ohio by mid-June

The dating app Bumble got stung after running billboard ads that appeared to sneer at celibacy as an alternative to meeting people online

U.S. wholesale prices rose sharply last month, a sign that stubbornly high inflation may persist after three elevated readings in consumer prices to start the year

A coalition that includes entrepreneur and philanthropist Daniel Lubetzky, actor Liev Schreiber, journalist Katie Couric, and director of the Muhammad Ali Center Lonnie Ali announced Tuesday that it would launch Builders, a nonprofit global initiative ...

Stocks that are trading heavily or have substantial price changes on Tuesday: Sony Group, The Container Store rise; Alibaba, Smart Sand fall

Mining giant Anglo American plc plans to break up its sprawling worldwide business — including the DeBeers diamond operation — as it seeks to fend off a takeover and focus on minerals that are expected to boom amid the global shift to green energy

Red Lobster says it is closing nearly 50 of its restaurants in the U.S. The locations span across more than 20 states — cutting back on Red Lobster’s presence in cities like Denver, San Antonio, Indianapolis and Sacramento

Dozens of Red Lobster locations across the U.S. are now on the chopping block

Researchers around the world are racing to create large wind turbines and floating platforms as upcoming lease auctions bring offshore wind closer to reality

Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again

More than 300 Syrians refugees are heading back home from northeastern Lebanon to an uncertain future in Syria as anti-refugee sentiment is surging in crisis-hit Lebanon

The Czech power company CEZ says its net profit in the first quarter of the year reached 13.6 billion Czech crowns or $592 million

Energy, railways, data centres may drive Siemens’ growth Earlier, ABB India Ltd had structured the demerger of its power transmission business similarly, mirroring the shareholding of investors in the new entity before selling its stake to Hitachi. "Demerging the company and mirroring the shareholding of minority investors is a much cleaner way to do this transaction," said Shriram Subramanian, the managing director of proxy advisory firm InGovern. Siemens Ltd has earlier faced shareholder ire in India when the company proposed to sell its low-voltage motors and geared motors to group company Siemens Large Drives India Private Limited.