Fresh plan in the works to promote Indian ships for higher cargo share
INDIA BUSINESS | Mon, 7 Jul 2025, 12:59AM IST
India is preparing a new plan. This plan aims to boost Indian ships. The current scheme is likely to miss targets. The government wants to be a key maritime player. Consultations identify demand for 200 new ships. These ships are worth 1.3 lakh crore. The petroleum, steel, and fertiliser sectors need them. The goal is to increase Indian-flagged ships.
Continue reading at Economic Times
2h
Bank of Baroda also waives minimum balance charges amid deposits chase
INDIA BUSINESS | Mon, 7 Jul 2025, 12:51AM IST
Bank of Baroda has waived charges for customers not maintaining minimum balances in savings accounts, effective July 1, joining other major banks in this move. Experts believe this strategy aims to attract deposits amid growing competition from alternative investment options like mutual funds and direct stock investments.
Continue reading at Economic Times
2h
Less than 25% of retail loans went to first-timers in FY25
INDIA BUSINESS | Mon, 7 Jul 2025, 12:48AM IST
Data reveals lenders are being careful with new borrowers. 'New to credit' individuals get fewer retail loans in fiscal year 2025. Two-wheeler loans are an exception, with nearly half going to first-time borrowers. Banks are worried about loan quality. Many applicants lack stable jobs or proper documents. Multiple loan applications also lead to rejections.
Continue reading at Economic Times
2h
Adani Enterprises to Raise Rs 1,000 crore via NCDs
INDIA BUSINESS | Mon, 7 Jul 2025, 12:40AM IST
Adani Enterprises plans to raise 1,000 crore via non-convertible debentures. The NCDs will offer yields up to 9.30% with a 60-month tenor. Subscription opens July 9 and closes July 22. At least 75% of funds will repay debt. This is AEL's second domestic bond market fundraising. The company aims for inclusive capital markets growth and retail participation.
Continue reading at Economic Times
2h
Incuspaze buys realty analytics company VSKOUT
INDIA BUSINESS | Mon, 7 Jul 2025, 12:31AM IST
Incuspaze, a flexible workspace provider, has acquired VSKOUT. VSKOUT offers data analytics for commercial real estate. This acquisition follows Incuspaze's recent purchase of Trios. The combined entity aims to improve growth strategies for global capability centers and enterprises. Incuspaze anticipates significant revenue growth this financial year. They are targeting Rs 350-400 crore, driven by acquisitions and increased leased space.
Continue reading at Economic Times
2h
Hotels rake in moolah as Indians hit the road for impulsive trips
INDIA BUSINESS | Mon, 7 Jul 2025, 12:30AM IST
A rising number of Indians are taking to self-driving trips and road trips not just domestically but overseas as well. Rajesh Magow, co-founder and group CEO of MakeMyTrip said the interesting shift being observed in leisure travel by road in recent times is the emergence of newer demand centres near metro hubs across the country.
Continue reading at Economic Times
2h
INDIA BUSINESS | Mon, 7 Jul 2025, 12:25AM IST
SBI is navigating surplus liquidity, a welcome shift attributed to the RBI's actions. The bank anticipates a further policy rate cut this year, contingent on factors like a normal monsoon. While deposit mobilization is challenging, SBI focuses on personalized customer engagement and technological innovation to maintain growth and manage risks.
Continue reading at Economic Times
2h
Telcos raise concerns over Digital Bharat Nidhi use
INDIA BUSINESS | Mon, 7 Jul 2025, 12:19AM IST
Telecom operators are contesting the government's decision to allocate Digital Bharat Nidhi (DBN) funds for research and development, particularly to public sector units and IITs. Telcos argue that DBN was originally intended for telecom network deployment in rural areas, funded by their contributions. They are concerned about cross-subsidization and lack of transparency in R&D project selection.
Continue reading at Economic Times
2h
Airlines worried over DGCA's new medical test rule
INDIA BUSINESS | Mon, 7 Jul 2025, 12:15AM IST
The Directorate General of Civil Aviation changed a rule. Now, commercial pilots must undergo medical tests only at Indian Air Force centers. Earlier, private hospitals were allowed. This decision follows a co-pilot's death due to cardiac issues. Airline executives worry about stricter military standards. They also fear potential pilot shortages and increased insurance costs.
Continue reading at Economic Times
2h
Bessent Says He Expects Trade Deals by This Weeks Deadline
GLOBAL NEWS | Mon, 7 Jul 2025, 12:15AM IST
But the Treasury secretary also said that some countries working toward agreements with the United States could have until Aug. 1.
Continue reading at The New York Times
2h
New nuclear model to focus on private role
INDIA BUSINESS | Mon, 7 Jul 2025, 12:14AM IST
The Centre is preparing to introduce significant amendments to nuclear power laws, potentially allowing private sector involvement in key areas like atomic mineral exploration, mining, and fuel fabrication. These changes aim to reshape the nuclear power ecosystem, currently dominated by the Department of Atomic Energy.
Continue reading at Economic Times
2h
Mobile bills may rise further as telcos keep adding subscribers
INDIA BUSINESS | Mon, 7 Jul 2025, 12:10AM IST
Mobile tariffs in India are anticipated to increase by 10-12% towards the end of the year, primarily affecting mid- and higher-paying consumers. This potential hike is driven by a significant surge in active subscribers and sustained net user additions.
Continue reading at Economic Times
2h
US close to several trade deals, announcements expected in days: Bessent
INDIA NEWS | Sun, 6 Jul 2025, 11:01PM IST
"I hear good things about the talks with Europe. I hear good things about the talks with India," Stephen Miran, chairman of the White House Council of Economic Advisers said
Continue reading at Business Standard
4h
FinMin directs public sector banks to evaluate board performance
INDIA BUSINESS | Sun, 6 Jul 2025, 10:43PM IST
"Independent third-party board evaluations are a widely accepted global practice, and India has only recently begun adopting them," remarked S. Krishnan
Continue reading at Business Standard
4h
Finance ministry asks PSBs to evaluate board performance
INDIA BUSINESS | Sun, 6 Jul 2025, 10:43PM IST
"Independent third-party board evaluations are a widely accepted global practice, and India has only recently begun adopting them," remarked S. Krishnan
Continue reading at Business Standard
4h
Global South is victim of 'double standards': PM Modi at Brics Summit
INDIA MARKET | Sun, 6 Jul 2025, 9:56PM IST
The BRICS remains a powerful force for economic cooperation and global good, Prime Minister Narendra Modi said on Sunday as several top leaders of the member nations of the grouping converged in this seaside Brazilian city to hold summit ...
Continue reading at Business Standard
5h
ENG vs IND 2nd Test: India scripts historic first-ever win at Edgbaston
INDIA MARKET | Sun, 6 Jul 2025, 9:54PM IST
Shubman Gill scored 269 and 161 runs in the two innings of the match and played a crucial role in India's victory
Continue reading at Business Standard
5h
Musk should stay out of politics: Bessent
INDIA NEWS | Sun, 6 Jul 2025, 9:43PM IST
A day after Elon Musk escalated his feud with Donald Trump and announced the formation of a new U.S. political party, the president's Treasury secretary said Musk should stick to running his companies. And investment firm Azoria Partners, which had planned to launch a fund tied to Musk's automaker Tesla, said it was delaying the venture because the party's creation posed "a conflict with his full-time responsibilities as CEO". Musk said on Saturday he was establishing the "America Party" in response to Trump's tax-cut and spending bill, which Musk claimed would bankrupt the country. Speaking on CNN on Sunday, Treasury chief Scott Bessent said the boards of directors at Musk's companies - Tesla and rocket firm SpaceX - likely would prefer him to stay out of politics. "I imagine that those boards of directors did not like this announcement yesterday and will be encouraging him to focus on his business activities, not his political activities," Bessent said. Musk, who served as a top adviser to the White House on trimming the size of government during the first few months of Trump's presidency, said his new party would in next year's midterm elections look to unseat Republicans in Congress who backed the "big, beautiful bill". Musk spent millions of dollars underwriting Trump's re-election effort and for a time, regularly showed up at the president's side in the Oval Office and elsewhere. Their disagreement over the spending bill led to a falling out that Musk briefly tried unsuccessfully to repair. The bill, which cuts taxes and ramps up spending on defense and border security, passed last week on party-line votes in both chambers. Critics argue it will damage the economy by significantly adding to the federal budget deficit. Trump has said Musk is unhappy because the bill, which Trump signed into law on Friday, takes away green-energy credits for Tesla's electric vehicles. The president has threatened to pull billions of dollars Tesla and SpaceX receive in government contracts and subsidies in response to Musk's criticism. Bessent suggested Musk holds little sway with voters who, he said, liked his Department of Government Efficiency more than him. "The principles of DOGE were very popular," Bessent said. "I think if you looked at the polling, Elon was not." INVESTOR REBUKE Musk's announcement immediately brought a rebuke from Azoria Partners, which said on Saturday it will postpone the listing of its Azoria Tesla Convexity exchange-traded fund. Azoria was set to launch the Tesla ETF this week. Azoria CEO James Fishback posted on X several critical comments about the new party and reiterated his support for Trump. "I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO," Fishback said. On Sunday, Fishback added on X, "Elon left us with no other choice." The White House did not respond to a request for comment on Musk's announcement, but Stephen Miran, the chairman of Trump's Council of Economic Advisers, defended the bill on ABC's "This Week". "The one, big, beautiful bill is going to create growth on turbo charge," Miran said.
Continue reading at Economic Times
5h
ENG vs IND 2nd Test: Akash Deep records maiden five-wicket haul in Tests
INDIA MARKET | Sun, 6 Jul 2025, 8:56PM IST
Akash Deep also becomes the fifth Indian bowler to take a fifer at Edgbaston
Continue reading at Business Standard
6h
Thailand to offer US more trade concessions
INDIA NEWS | Sun, 6 Jul 2025, 8:52PM IST
Thailand, in its latest proposal to avert steep U.S. tariffs, is aiming to boost bilateral trade volumes with the U.S. and reduce its $46 billion trade surplus by 70% within five years, reaching balance in seven to eight years, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday. Washington has threatened to impose a 36% levy on imports from Thailand if a reduction cannot be negotiated before July 9, when a 90-day pause capping tariffs at a baseline of 10% for most nations expires. Thailand is pushing for a best-case rate of 10%, Pichai said Bloomberg in an interview, adding that even a range of between 10% and 20% would be acceptable. Pichai expects to submit the revised offer before July 9, the report said.
Continue reading at Economic Times
6h
Brics remains a powerful force for economic cooperation, global good: PM
INDIA MARKET | Sun, 6 Jul 2025, 8:22PM IST
The BRICS remains a powerful force for economic cooperation and global good, Prime Minister Narendra Modi said on Sunday as several top leaders of the member nations of the grouping converged in this seaside Brazilian city to hold summit ...
Continue reading at Business Standard
6h
Brics remains a powerful force for global good, says PM Narendra Modi
INDIA MARKET | Sun, 6 Jul 2025, 8:18PM IST
The BRICS remains a powerful force for economic cooperation and global good, Prime Minister Narendra Modi said on Sunday as several top leaders of the member nations of the grouping converged in this seaside Brazilian city to hold summit ...
Continue reading at Business Standard
6h
Ball in Washington's court on India-US interim trade pact before July 9
INDIA MARKET | Sun, 6 Jul 2025, 8:06PM IST
With India setting its red lines on key issues in sectors such as agriculture and dairy for the proposed interim trade agreement with the US, the ball is now in Washington's court to finalise the deal, sources said.
They said if issues are settled, ...
Continue reading at Business Standard
6h
No country with 28% poverty can claim to be fourth most equal in the world: Congress
INDIA BUSINESS | Sun, 6 Jul 2025, 7:53PM IST
After Centre uses World Bank report to assert claim of low consumption-based inequality, Congress notes that the same report highlights high wage disparity, limitations in comparing consumption data
Continue reading at The Hindu
7h
Grounded Thai Lion Air plane departs Kolkata
INDIA BUSINESS | Sun, 6 Jul 2025, 7:52PM IST
A Thai Lion Air Boeing 737-800, grounded in Kolkata due to technical issues on July 5, finally departed for Bangkok early Sunday with 96 passengers. The flight, initially scheduled for Saturday, was cancelled after developing problems on the taxiway, affecting 130 passengers and seven crew members. Passengers were provided hotel accommodations while the aircraft was repaired.
Continue reading at Economic Times
7h
'Ball in Washington's court on India-US interim trade pact before July 9'
INDIA NEWS | Sun, 6 Jul 2025, 7:44PM IST
With India setting its red lines on key issues in sectors such as agriculture and dairy for the proposed interim trade agreement with the US, the ball is now in Washington's court to finalise the deal, sources said.
They said if issues are settled, an interim trade pact could be announced before July 9, which marks the end of the 90-day suspension period of the Trump tariffs announced on April 2 on dozens of countries, including India.
"India has drawn its red lines... now the ball is in the US court," they said.
In February, the two countries announced starting negotiations for a bilateral trade agreement (BTA). They fixed a deadline to conclude the first tranche or phase of the BTA by fall (September-October) this year. Before that, the two sides are locking to finalise an interim trade pact.
On April 2, the US imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days. However, the 10 per cent baseline tariff imposed by America remains in ..
Continue reading at Business Standard
7h
US announcements on trade pacts likely soon
INDIA NEWS | Sun, 6 Jul 2025, 7:35PM IST
The United States is close to reaching agreements on several trade deals ahead of a July 9 deadline when higher tariffs kick in, U.S. Treasury Secretary Scott Bessent said on Sunday, predicting several big announcements in coming days. Bessent told CNN's "State of the Union" program that the Trump administration would also send out letters to 100 smaller countries with whom the U.S. doesn't have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9. "President Trump's going to be sending letters to some of our trading partners saying that, if you don't move things along, then on August 1, you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said.
Continue reading at Economic Times
7h
Nykaa expects Q1FY26 consolidated net revenue to grow by around mid-20%
INDIA BUSINESS | Sun, 6 Jul 2025, 6:58PM IST
FSN E-Commerce projects Q1 FY26 revenue growth in the mid-20% range, led by strong performance in the beauty vertical, while fashion shows sequential improvement
Continue reading at Business Standard
8h
Eternal appoints Aditya Mangla as CEO of food ordering and delivery
INDIA BUSINESS | Sun, 6 Jul 2025, 6:47PM IST
Aditya Mangla takes over as CEO of Eternal's food delivery business from Rakesh Ranjan, as Deepinder Goyal signals a shift in leadership style at Zomato
Continue reading at Business Standard
8h
NPCI acquires prime land in Mumbais BKC from MMRDA for Rs 829 cr for HQ
INDIA BUSINESS | Sun, 6 Jul 2025, 6:46PM IST
NPCI has acquired a 1.5-acre land parcel in Mumbai's BKC from MMRDA for Rs 829.43 crore to establish its headquarters. The 80-year lease will allow NPCI to construct a 16-story office building, consolidating its operations and supporting digital payment innovation. This deal highlights BKC's importance as a financial hub and reflects strong demand for commercial real estate.
Continue reading at Economic Times
8h
INDIA BUSINESS | Sun, 6 Jul 2025, 6:41PM IST
IndiGo faces a deadline to end its lease of Boeing 777s from Turkish Airlines for Istanbul flights, set by the DGCA due to strained India-Turkiye relations. Despite this, IndiGo CEO Pieter Elbers affirms the airline's commitment to the Istanbul route, exploring options like using A321 aircraft.
Continue reading at Economic Times
8h
Flipkart takes quick commerce beyond metros, aims for 800 dark stores
INDIA MARKET | Sun, 6 Jul 2025, 6:36PM IST
Company targets tier-2 and tier-3 cities with its Flipkart Minutes service, doubling business every 45 days and aiming to scale up before festive season
Continue reading at Business Standard
8h
Emmvee Photovoltaic Power files DRHP with Sebi to raise 3,000 cr via IPO
INDIA MARKET | Sun, 6 Jul 2025, 6:34PM IST
The IPO includes a 2,143.86-cr fresh issue and 856.14-cr OFS; proceeds will go toward debt repayment, working capital and general corporate purposes
Continue reading at Business Standard
8h
Influx of 14,590 cr by foreign investors in Jun; early Jul sees withdrawal
INDIA MARKET | Sun, 6 Jul 2025, 6:31PM IST
Foreign investors put in Rs 14,590 crore in the country's equity market in June, marking the third straight month of investment, supported by improving global liquidity conditions, easing geopolitical tensions, and a rate cut by the Reserve Bank of India.
However, foreign portfolio investors (FPIs) turned net sellers in July and pulled out Rs 1,421 crore in the first week of the month, data with the depositories showed.
Going forward, in the near term, FPI flows are expected to remain choppy on account of tariff deadline developments and US data volatility, Vaqarjaved Khan, Senior Fundamental Analyst, Angel One, said.
In addition, FPIs buying will hinge on Q1FY26 result indications. "If the results indicate earnings recovery, that will be positive. Disappointment on these factors can impact the market and, thereby, flows," V K Vijayakumar, Chief Investment Strategist, Geojit Investments, said.
According to the data with the depositories, FPIs made a net investment of Rs 14,590 cror
Continue reading at Business Standard
8h
Proximity, culture make Sri Lanka ideal for Indian firms: Sanjiv Puri
INDIA MARKET | Sun, 6 Jul 2025, 6:31PM IST
ITC Chairman Sanjiv Puri says cultural affinity and geography make Sri Lanka a preferred overseas destination as Indian companies expand and FTAs open new avenues
Continue reading at Business Standard
8h
Foreign investors infuse Rs 14,590 cr in June; early July sees withdrawal
INDIA MARKET | Sun, 6 Jul 2025, 6:31PM IST
Foreign investors put in Rs 14,590 crore in the country's equity market in June, marking the third straight month of investment, supported by improving global liquidity conditions, easing geopolitical tensions, and a rate cut by the Reserve Bank of India.
However, foreign portfolio investors (FPIs) turned net sellers in July and pulled out Rs 1,421 crore in the first week of the month, data with the depositories showed.
Going forward, in the near term, FPI flows are expected to remain choppy on account of tariff deadline developments and US data volatility, Vaqarjaved Khan, Senior Fundamental Analyst, Angel One, said.
In addition, FPIs buying will hinge on Q1FY26 result indications. "If the results indicate earnings recovery, that will be positive. Disappointment on these factors can impact the market and, thereby, flows," V K Vijayakumar, Chief Investment Strategist, Geojit Investments, said.
According to the data with the depositories, FPIs made a net investment of Rs 14,590 cror
Continue reading at Business Standard
8h
FPIs invest 14,590 crore in June; early July sees withdrawal
INDIA BUSINESS | Sun, 6 Jul 2025, 6:09PM IST
FPIs' outflow stood at 79,322 crore in 2025 so far
Continue reading at The Hindu
8h
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