UPS Financial News

Subscribe to enjoy similar stories. You’ve just wrapped up your yearly strategy—clear goals, a bold vision, and you're genuinely proud of the work. But now you’re under pressure to deliver a sharp, engaging, and powerful presentation for the leadership team.

In Dholera, India’s first semiconductor cluster that is emerging as a hub for expat talent, the Gujarat government is aiming to recreate the “look and feel” of their home countries for this tribe of globe trotters. Termed the “Global Tent City” in keeping with Dholera’s terrain, the multi-faceted agglomeration is expected to house food streets from across nations – Taiwan, Korea, Japan, the US, as well as some European nations, a high-end mall and a hotel or guesthouse to cater to the cosmopolitan tastes of the well-travelled employees.

Eli Lilly, the world's most-valued drugmaker that seeks to shake up India's lifestyle disease management through its recent introduction of weight-loss injectable Mounjaro, is working on a potential breakthrough that offers hope to millions battling chronic heart ailments in South Asia. The US drug major's CEO, David Ricks, told ET the drug in research can potentially cut a specific type of cholesterol that is highly prevalent in Indians and South Asians by as much as 85% to 90%. Eli Lilly, with a market cap of roughly $750 billion, is working on a multitude of treatment modalities with an annual R&D budget that has swelled to $14 billion.

ArcelorMittal Nippon Steel India (AM/NS India) has begun the land acquisition process at Rajayapeta in Andhra Pradesh, where it plans to set up an integrated steel plant, the company said on Friday. This is the first large greenfield plant to be set up in the country in nearly a decade, after the first phase of Tata Steel's Kalinganagar project was commissioned in 2016 with an initial capacity of 3 million tonne. ET reported on November 3, 2024, that the steelmaker will be investing ₹1.40 lakh crore in setting up an integrated steel plant in the Anakapalli district in the state, which will have an annual production capacity of 17.8 million tonne. AM/NS India has made the initial payment for acquiring the land in Andhra Pradesh, and possession is expected soon, after which the company will start work on the greenfield project. The plant will have an initial capacity of 7.3 million tonne.

DP World is preparing to start ship-leasing operations in India by setting up a subsidiary in the International Financial Services Centre (IFSC) at Gujarat's GIFT City, people familiar with the matter said. The port and logistics giant may commence operations with four ships, the people said, adding that the company has secured approval from Indian authorities. «The ships could be Indian flag ships or international ships. They may buy vessels and then lease them further or rent an Indian flag ship and then sub-lease it,» one of the persons said. DP World follows others such as Japan's Mitsui OSK Lines and UAE-based Transworld Group who have started operations in IFSC. DP World's new venture in India will encompass vessel ownership, operation, chartering, and other permitted activities, the people said. To be sure, the company offers feeder services globally but does not offer a ship leasing service in India currently.

Vodafone Idea after the recent government decision not to waive interest and penalties related to adjusted gross revenue dues. The development came amid demands by Bharti Airtel and Reliance Jio that the government have a clause for refund of the money that they have fully paid up for the spectrum bought before 2022 but could have now surrendered, said officials aware of the matter. Vodafone Idea was hoping to immediately surrender some spectrum bought before 2022 and use it partly to pay for bank guarantees in the near future. Surrender of excess airwaves could have reduced the telco's government obligations by ₹30,000-₹40,000 crore, depending on the quantum of spectrum returned. Officials said the move to allow surrender of spectrum would have involved a complicated process to change the rules of auctions conducted before 2022, which was also a deterrent.

The male participation rate, for those aged 15-59, also rose to 75% from 70.9% in the same period. Overall, 49.9% people were engaged in employment-related activities in 2024, up from 46.4% five years ago, as per the 'Time Use in India 2024' report by the ministry of statistics and programme implementation (MoSPI).

India's core sector output slowed to a five-month low of 2.9% in February from 5.1% in January, as growth across most infrastructure sectors moderated, according to official data released Friday. The growth was 7.1% a year earlier and experts cited base effect for the slowdown last month. «The infrastructure output growth was the lowest in five months, hit by an unfavourable base effect,» said Paras Jasrai, associate director at India Ratings and Research (Ind-Ra). The core sector comprises eight industries: coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity. Madan Sabnavis, chief economist at Bank of Baroda, noted that February's growth was primarily driven by strong performances in the steel and cement sectors. Six of these industries grew in February, with fertiliser output surging to a nearly two-year high of 10.2%.

Formula One is looking to drive fan engagement by using its vast array of data to create more betting opportunities, the sport's director of commercial partnerships Jonny Haworth said on Thursday. Recent figures from Nielsen Sports put Formula One's global fandom at 826.5 million, 12% more than in 2023, with a 39% increase in fans following in China over the last 12 months due to the post-COVID return of the country's race in Shanghai. «We're sort of on a journey in the betting space at the moment,» Haworth told the BlackBook Motorsport Forum in London on Thursday. «I think we make up 0.4% of the overall global betting handle, which is pretty crazy for a sport of the size of Formula One and with a sport that has low latency data at a high volume which is what drives betting.» Formula One, whose cars have an array of sensors on them delivering billions of data points, last month announced San Diego-based ALT Sports Data as its official betting data supplier.

Vikram Sarabhai Space Centre (VSSC) signed an agreement with the National Aerospace Laboratories (NAL) to develop T800 — a high-strength carbon fibre for space launch vehicles — a parliamentary committee has criticised the failed and abandoned project. The Public Accounts Committee (PAC) noted the shift in policy on critical raw materials, from focusing on indigenous development due to embargo concerns in 2006, to abandoning the project in 2019 after ISRO was removed from the restricted list. The PAC has called on the Department of Space to reassess India's requirements for strategic materials and formulate policies to ensure the indigenous development of critical materials and technologies.

Poll after poll shows angry Canadians are on board when it comes to retaliating against United States President Donald Trump‘s tariffs.

By Mark Mullins

United States President Donald Trump’s tariffs have sparked fears of a recession in Canada, but this country’s largest bank is confident it can overcome any near-term hurdles and continue to post healthy growth during the next few years.

The company on Thursday named chip industry veteran Robert Feurle as its chief executive effective May 1, after it ousted top boss Gregg Lowe without cause in November.

Gold prices surged to a record high on Friday, as investors flocked to the safe-haven asset amid fears of a global trade war triggered by U.S. President Donald Trump's latest tariffs. Spot gold climbed 0.9% to $3,082.39 an ounce as of 11:38 a.m. ET (1538 GMT) after hitting its eighteenth record high this year at $3,086.70 earlier in the session. Bullion is up 2% this week and is on track for a fourth straight weekly gain.

In India, the Himalayas are most prone to earthquakes. Experts have highlighted the possibility of a 'Great Himalayan Earthquake'. Any major seismic activity in the region always brings to fore this vulnerability. The impact of such a large earthquake of magnitude of 8 or above can also impact the National Capital Region of Delhi. A matter of 'when' not 'if' American geophysicist Roger Bilham has warned that the Himalayas are the only place in the world where a large quake can occur on land. «India slides 2m beneath the southern edge of Tibet every century. Unfortunately, its northern edge does not slide smoothly but is hung-up (by friction) for hundreds of years and catches up in minutes when this friction is overcome. The slip events, which we call earthquakes, are the inevitable and unavoidable consequence of this motion,» Bilham had told TOI in an interview in 2020. Bilham has explained why the Great Himalayan Earthquake is inevitable even though experts can't say exactly when it can happen. «Great earthquakes with magnitudes exceeding 8 on the Richter scale have been occurring in the Himalayas every few hundred years. We have geological evidence that earthquakes as large as M=8.7 have occurred many times in the past 2,000 years. However, no magnitude 8 earthquakes have occurred in the past 70 years to release the pressure in the Himalayan arc. Two or more regions of the Himalayas must soon rupture in a great earthquake. It is not a matter of “possibly”. They must occur. Unfortunately, scientists are unable to offer any insight into their precise timing,» Bilham had told TOI.

Elliott took out the 0.5% short on Tuesday (25 March), according to Financial Conduct Authority disclosures, the same day Shell had its 2025 capital markets day where CEO Sinead Gorman outlined his firm's future strategy for the next five years. The US hedge fund, which is well know for its activism in UK listed companies over the years, is currently the only firm that has amassed a short position in Shell large enough to be disclosed by the FCA. BP's share price rallies 6% after US activist hedge fund Elliott builds stake Elliott built up a stake in Shell's competitor, BP, of an u...

Subscribe to enjoy similar stories. WASHINGTON : President Trump is following through on his pledge to usher in one of the most sweeping deregulatory drives in modern U.S. history, moving swiftly to slash environmental rules and bank oversight, remove barriers to cryptocurrencies, and reverse the Biden administration’s restrictions on energy production.

Barry Ritholtz had a hard time writing his first book, «Bailout Nation.»