The Enforcement Directorate has summoned BRS leader KT Rama Rao and others for questioning in a money laundering case linked to a Formula-E race in Hyderabad. Rama Rao and other officials will appear in January 2024 about alleged payment irregularities. The probe involves payments of around Rs 55 crore. Rama Rao has denied any wrongdoing.
An Indian Army contingent of over 300 personnel has left for Nepal to participate in the India-Nepal joint military exercise Surya Kiran, scheduled from December 29 to January 13. The exercise aims to improve interoperability in jungle warfare, counter-terrorism, and humanitarian operations while strengthening military cooperation and cultural ties between the two nations.
Housing prices have significantly increased in Bengaluru's peripheral area Gunjur and Noida Expressway in Delhi-NCR over the last five years due to factors such as improved connectivity and infrastructure development, with Gunjur seeing a 69% rise and Noida Expressway experiencing a 66% appreciation.
The Indian stock market has delivered strong returns in 2024, with Nifty and Sensex rising for the ninth consecutive year. In 2025, global factors like U.S. trade policies and geopolitical events will influence market performance.
India’s startup ecosystem grew at a sustainable rate in 2024 (barring a few outliers) and this growth is expected to continue in 2025, supported by the $2.5Bn raised in 2024 by new and existing VC Funds.
The Trinamool Congress (TMC) retained power in West Bengal, winning the 2024 Lok Sabha elections and subsequent bypolls, despite controversies. TMC's leader Mamata Banerjee faced challenges but strengthened her political position. The BJP struggled with internal issues and electoral setbacks. The Congress and Left Front failed to make significant impact.
Magnus Carlsen withdrew from the World Rapid and Blitz Chess Championships after FIDE barred him for wearing jeans, citing dress code regulations. FIDE fined him $200 and offered a chance to change, which Carlsen refused on principle, citing a lack of prior awareness about the jeans rule.
Western officials are growing worried that Russia's shadow fleet, used to evade sanctions, has escalated to sabotage critical infrastructure. Recent incidents, including the Eagle S suspected of cutting vital cables in the Baltic Sea, highlight an increased threat to European security and NATO responses in the region.
RJD leader Lalu Yadav paid tribute to former PM Manmohan Singh, who passed away recently, highlighting his unique political contributions. The country prepared for Singh's funeral and discussed plans for a memorial. Key political figures and the public gathered to honor Singh, acknowledging his impact on India's global stature and economic modernization.
Urban demand in the FMCG sector is expected to recover by mid-2025. Companies are focusing on premium products to drive growth despite current inflation. Categories like liquid beauty products and instant coffee are gaining popularity. However, rising debt and lower disposable incomes in urban areas remain challenges. Policy measures might be needed to boost consumption.
The Zoram People's Movement (ZPM) implemented significant administrative reforms and passed 46 Bills in Mizoram within its first year. Strong opposition emerged against the Center's decision to fence the Myanmar border. Meanwhile, the state grappled with refugee influx and the Manipur boundary dispute.
India's wealth management sector is evolving due to tech advances, ESG investments, and increased mutual fund SIPs. By 2025, AI-driven platforms, a significant rise in alternative investments, growing demand for gold, and personalised wealth services for affluent individuals will dominate, aligning with India's growth trajectory toward a $5 trillion economy.
Year Ender EVs: The automobile industry in India experienced a modest growth of 0.5% between April and September. The highlight was a 25% increase in electric vehicle sales, with 13.06 lakh EVs registered from April to November 2024. Government initiatives and subsidies under the PM E-Drive scheme contributed to this growth. Key launches by Tata, Mahindra, and MG also boosted the market.
Dr Manmohan Singh's passing is a personal and significant loss for many. He played a crucial role in shaping India's economy through the 1991 reforms, which set the country on a new developmental path. His legacies include dedication to economic reform, building consensus in a diverse nation, and his simplicity, honesty, and decency.
With limited potential for sustainable aviation fuel and electric planes, capturing and storing carbon dioxide is essential to mitigate the significant climate impact of flying.
December has seen an unprecedented surge in activity for India's capital markets, with 15 IPOs listed in just 21 days. The year 2024 witnessed 90 mainboard IPOs, raising USD 20 billion. This growth is driven by increased market participation and diversification, although regulatory changes may challenge this momentum.
In 2024, AAP leaders Arvind Kejriwal and Manish Sisodia faced legal challenges in the Delhi High Court over corruption cases. Kejriwal was arrested by the Enforcement Directorate and the CBI. Other politicians also sought legal remedies or faced legal issues. The high court made several significant rulings related to these cases.
Netflix achieved a milestone on Christmas Day, setting a new live-streaming record with two NFL games. The Baltimore Ravens' victory over the Houston Texans and the Kansas City Chiefs' win against the Pittsburgh Steelers attracted over 65 million viewers in the U.S. Beyoncé’s halftime performance further boosted viewership. These games marked Netflix's debut in a three-year NFL partnership, solidifying its position in live sports broadcasting.
India's hopes of reaching the ICC World Test Championship 2025 final are in doubt after struggling in the fourth Test against Australia at Melbourne. They avoided the follow-on but face a tough path ahead. Their performance in the upcoming Sydney Test and Australia's matches against Sri Lanka will be crucial for qualification.
Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 per barrel. U.S. West Texas Intermediate crude futures rose 98 cents, or 1.4%, to $70.60 per barrel.
India's Current Account Deficit (CAD) is projected to exceed 2 per cent of GDP in Q3 FY25 due to rising gold imports. Despite this, resilient services exports and remittance inflows should keep the overall CAD within 1.2-1.5 per cent of GDP for FY25.
Gold prices decreased by 0.6% to $2,619.33 per ounce as elevated U.S. Treasury yields reduced bullion's appeal during a lean holiday week. The market’s focus remains on President-elect Trump's return and the potential influence of his inflationary policies on the Fed’s outlook for 2025.