Finance Minister Nirmala Sitharaman announced that the FY25 budget focused on promoting investments and job creation, balancing growth and fiscal consolidation. She highlighted increased allocations in social sectors, dismissed concerns about stagnant consumption and falling household savings, and defended measures taken to ease the tax burden on the middle class.
Stanley Black & Decker India has been fined ₹2.16 crore by the corporate affairs ministry for not transferring unspent CSR funds within the stipulated time. The company was required to transfer funds for 2020-21 and 2021-22 but missed the deadline. Additionally, Nestaway was fined for failing to timely notify a change in its registered office address.
Power Finance Corporation obtained a ₹25.5 billion loan from Japan Bank for International Cooperation for a 300 MW wind energy project in Karnataka. This move supports JBIC's global environmental initiative. As of June 30, the company’s loan assets totaled ₹4.75 lakh crore, and its net non-performing assets ratio was 0.87% in the first financial quarter.
According to a report from the NITI Aayog back in 2022, when the discussion around the technology started gathering pace in the country, CCUS will be key in decarbonizing the industrial sector, which is hard to electrify and hard to abate. The concept has gathered momentum in the last two years because of its advantage in decarbonizing the power sector, given India's present reliance on coal for meeting over 70% of its electricity needs.
"Warhammer 40K Space Marine 2" will be released on September 9, 2024. Available on PlayStation 5, Xbox Series X|S, and PC, it features enhanced gameplay, a detailed story, and multiplayer options. The game follows Captain Titus as he faces new challenges in the Warhammer universe.
The NCLAT reserved its decision on SBI's plea for an interim distribution of Rs 275 crore from the escrow account of Baleshwar Kharagpur Expressway Ltd. In April, NCLAT had ruled that secured creditors like SBI should be paid before other creditors. SBI emphasized the long wait of almost six years for fund distribution.
The NIA has filed a charge sheet revealing that a Pakistani-run Telegram channel recruited three Kashmiri youths for attacks on non-locals in Srinagar. The three are accused of killing Amritpal Singh, a worker from Amritsar. Investigations showed that Pakistani handlers used social media to lure unemployed youth into terrorist activities.
Fortis Healthcare has acquired a 34% stake in Agilus Diagnostics from private equity firms Jacob Ballas and IFC. This transaction valued Agilus at around ₹5,000 crore and increased Fortis's holding from 57% to 91%. Agilus operates 413 laboratories and faced expansion challenges due to investors' reluctance and rising competition from new-age online players.
The BSF reported an improvement in the border conditions with Bangladesh, citing no significant violent incidents. Reinforcements were deployed, and coordination meetings were organized to reassure locals. Gatherings near the borders were peacefully managed, and fears of unrest were addressed with cooperation from Bangladeshi authorities. People were encouraged to return home.
Last year, the 14 IPEF nations inked a supply chain resilience agreement to reduce dependence on China and shift production of critical sectors and key goods to member countries. The IPEF includes India, Australia, the US, Japan, Fiji, South Korea, New Zealand, Singapore and Thailand, representing 40% of global gross domestic product and 28% of the global trade in goods and services.
Tata Motors has raised discounts on its Nexon.ev by up to ₹60,000 to boost slow sales. This comes after a ₹1.2 lakh price cut. The company's electric vehicle sales have been declining, with the Nexon.ev's sales particularly affected. The newly launched Curvv.ev may also affect Nexon.ev sales due to overlapping prices.
In the Lok Sabha, Road Transport and Highways Minister Nitin Gadkari received praise from Opposition members, who expressed they had missed him during his recent absence due to a PM-assigned visit to Iran. Trinamool Congress MP Kirti Azad commended Gadkari's work ethic.
The government of Nepal has named Lieutenant General Ashokraj Sigdel as the Acting Chief of Army Staff starting Friday. CoAS Prabhuram Sharma, who will retire on September 9, delegated responsibilities to Sigdel during a function on Thursday. The move was recommended by the Council of Ministers and approved by President Ram Chandra Paudel.
Tarique Rahman, acting chairman of the BNP, and student leaders who ousted Sheikh Hasina's government are at odds over election timing. Rahman wants prompt elections, fearing dilution of party support, whereas student leaders need time to form a political structure. Rahman stressed national unity and safety in a recent televised address.
Nobel laureate Professor Mohammad Yunus, a prominent critic of Sheikh Hasina, was appointed head of Bangladesh's interim government after she fled to India. Yunus, known for founding Grameen Bank, returns to lead the caretaker government amid civil unrest. His appointment follows a demand from the Anti-Discrimination Student Movement and years of legal challenges.
Gen Asim Munir, Pakistan Army chief, warned against chaos in the country, pledging the army's commitment to national integrity. He urged Islamic clerics to foster tolerance and unity. Prime Minister Shehbaz Sharif commended strong cooperation between the government and institutions and encouraged learning from historical errors.
Seventeen Indian workers from Afcons Infrastructure Pvt Ltd, stranded in Bangladesh owing to unrest, were safely returned to Tripura. Facilitated by the Border Security Force (BSF) and Border Guard Bangladesh (BGB), their passage through the Agartala-Akhaura Integrated Check Post was smoothly coordinated and executed late at night.
External Affairs Minister S. Jaishankar is set to visit the Maldives for three days starting Friday, marking his first trip to Male since President Mohamed Muizzu's election last year. The visit aims to mend strained relations and will feature the inauguration of projects funded by India's High Impact Community Development Projects and EXIM Bank's Line of Credit.
For Prime Minister Keir Starmer a former chief prosecutor,it is the first major test of his premiership since winning a July 4 election in which the previous Conservative government highlighted immigration as a major issue.
NEV sales accounted for just 7% of total vehicle sales in China three years ago, but its heavy investments in EV supply chains have propelled the growth of domestic EV industry, leaving many established foreign brands scrambling to catch up.
The Delhi High Court has set August 23, 2024, for the final hearing on the Black Money Act, affecting individuals such as Robert Vadra and Deepak Talwar. Central issues include the retrospective application of the law and the timing of tax notices. The court has ruled out further adjournments, seeking to resolve longstanding disputes.
Reserve Bank of India (RBI) Governor Shaktikanta Das has cautioned banks about potential asset-liability mismatches if they rely too heavily on short-term bulk deposits. He noted that as households shift their savings to alternative investments, banks face challenges in funding, with deposit growth lagging behind loan growth.
Bengaluru's property prices have surged, making it difficult for middle-class buyers to afford homes. The average cost of a 3 BHK apartment now ranges from ₹1.2 crore to ₹1.4 crore. This increase has led to inventory backlogs and market slowdowns, as potential buyers opt for rentals or cheaper outskirts properties.