All eyes are set on the 2024 Republican National Convention, where delegates may officially nominate Donald Trump its presidential candidate and J. D. Vance vice presidential nominee. The RNC will stream the entire program live on its YouTube channel. Other channels will also cover the event.
Controversy arises in Assam as government instructs police not to refer CAA cases to Foreigners Tribunals. AJP criticizes the move while AASU protests the notification. Chief Minister Sarma discloses low number of CAA citizenship applications. Debates continue over the impact of CAA in Assam.
Gourinchas said in an interview accompanying the release of new IMF growth forecasts on Tuesday it is better for the Fed to wait a bit longer to ensure there are no further upside surprises on inflation like those in the first quarter that delayed expected rate cuts to later this year.
The International Monetary Fund has increased India's growth forecast to 7% due to rising rural consumption. Global economy is expected to grow at 3.2% this year, with China and India contributing significantly to global growth.
The hike in pay and pensions would mean an additional expenditure of Rs 20,208 crore per annum to the cash-strapped government which has been struggling to meet demands from both government and MLAs who have been lobbying hard for funds for their constituencies. The government has set aside the funds in the budget for 2024-25 to meet the revised pay and pension, the CM said.
According to the advisory, the "Shab a Sahadat" Muharram procession will start at 4:00 PM, beginning at P. Ismail Merchant Chowk (Nesbit Junction) and proceeding through Sofia Zuber Junction, Sir J.J. Junction, Mhd. Ali Marg, Pakmodia Street, and ending at Zainabia Hall. The traffic police have warned of potential congestion along these routes. Residents are advised to avoid the JJ bridge after 5:30 PM and use P D'Mello Road and N.S. Road as alternatives.
Gold prices increased by 0.8% to $2,440.29 per ounce after Federal Reserve Chair Powell backed a September rate cut.
UptimeAI, an AI startup by Jagadish Gattu and Vamsi Yalamanchili, raised $14 million in Series A funding from WestBridge Capital and Emergent Ventures. The AI startup specialising in the manufacturing and heavy industries sectors claims its operational excellence solutions have delivered 10-15 times RoI for customers within nine months.
The IMF forecasts 3.2% global GDP growth in 2024 and 3.3% in 2025. US: 2.6% growth amid inflation, trade tensions. China: 5% boosted by consumption; facing a property crisis. Eurozone: slight upgrade. Japan: cut due to supply disruptions. Challenges: wage growth, protectionism, Georgieva’s warning, monetary easing delays, and high services prices.
Two militant attacks in northwest Pakistan on Monday resulted in a tragic toll of 28 lives, including 10 soldiers and civilians, including health workers and children. The first attack targeted a military base in Bannu, with militants breaching the perimeter using a suicide vehicle. The second attack struck a health facility in Dera Ismail Khan. The incidents highlight ongoing security challenges in the region amidst a resurgence of Islamist militancy.
The owners are exploring selling equal stakes that may total 13% in Mumbai-listed Adani Wilmar, said the people, asking not to be identified as the information is confidential. A sale that size would be valued at roughly $670 million as of Tuesday, and could take place as early as the coming months, the people said.
Tata group's Infiniti Retail, which operates Croma stores and sells electronics and smartphones on Tata Neu and Croma's shopping portals, reported a 25% drop in online sales last fiscal year. The company adjusted its strategy to avoid unprofitable discounting, often used to compete with Amazon and Flipkart. This shift, aligned with Tata Sons' focus on profitability, led to EBITDA breakeven and positive operating cash flow in FY24, with a profit of Rs 15.89 crore compared to a Rs 401.52 crore loss the previous year.
For banks, infrastructure bonds come with an advantage – funds raised through these securities are exempt from the regulatory requirement of maintaining Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
In India’s second 5G airwaves sale that concluded June 26, Bharti Airtel was the biggest spectrum buyer, lapping up 97 MHz of 5G airwaves worth Rs 6,856.76 crore. Vi was the second-biggest buyer, acquiring 30 MHz of 5G spectrum for Rs 3,510.40 crore. Telecom market leader Reliance Jio bought a modest chunk of 5G airwaves worth Rs 973.62 crore, its lowest-ever in an auction.
Byju’s faces insolvency following a $19 million dispute with the Indian cricket board. Shareholders allege mismanagement. Prosus wrote off its stake. Deloitte and board members from Peak XV Partners, Prosus, and Chan Zuckerberg Initiative resigned. Founders Raveendran and Gokulnath lead since the app's 2015 launch. Tribunal ruling installed a resolution professional.
Ian Cameron, the former head designer for Rolls-Royce, was fatally stabbed during a robbery at his $3 million mansion in Herrsching, Germany. The 74-year-old British national's wife, Verena Kloos, escaped the attack and alerted authorities. The suspect remains at large, prompting an extensive manhunt. Cameron played a significant role in designing iconic Rolls-Royce models and was highly regarded in the automotive industry.
Over the span of two months, the group allegedly smuggled 267 kg of gold worth Rs 167 crore. Customs officers estimate that Ali earned approximately Rs 2.5 crore during this period. One of the alleged couriers confessed to making 80 such trips in two months.
Uttar Pradesh offers 15% incentives, capped at Rs 1 lakh, for 25,000 electric cars. Rs 100 crore will support 200,000 two-wheelers. Rs 12,000 or 15% is provided for 30,000 three-wheelers. Rs 20 lakh is allocated for each of the 400 buses. Goods carriers receive up to Rs 100,000 or 10% ex-factory price.
Following England's Euro 2024 loss to Spain in the finals, Gareth Southgate has now called it quits as England manager, amid massive speculations around his reasons for doing so. Southgate led England to their second consecutive Euro finals, along with the 2018 FIFA World Cup semis, in his journey of eight years with the team.
Budget 2024: As the Union Budget 2024 presentation approaches, the Halwa ceremony was held in North Block, marking the final stage of the Budget preparation process. Union Finance and Corporate Affairs Minister Nirmala Sitharaman was present for the event. This traditional Halwa ceremony takes place annually before the “lock-in” phase of Budget preparation begins.
The Supreme Court of India will have 34 judges after the elevation of Justices N Kotiswar Singh and R Mahadevan. CJI Chandrachud to administer oath. Singh, Manipur’s first SC judge, recommended July 11, was appointed to Gauhati High Court in 2011. Mahadevan, representing Tamil Nadu's backward community, ranks third in Madras High Court, born June 10, 1963.
Ola Electric is launching a $4 billion IPO, 30% below its last valuation. The IPO seeks Rs 5,500 crore through a fresh issue and 95.2 million shares offer-for-sale. Initially targeting $6-7 billion, the valuation was adjusted to entice investors for post-issue profit.