Business
Come out of protectionist mindset: Goyal to exporters
Union minister Piyush Goyal NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday suggested to industry that it was imperative to shed some protectionism as the world was looking at reciprocity, while assuring exporters that govt was working overtime to protect their interests.“Reflecting on reciprocal tariffs, he has cautioned the EPCs (export promotion councils)…
Trump tariffs impact: Is a US recession likely and does India need to worry about it?
Fears are ripe of a US economic recession. What will high US tariffs and America’s economic slowdown mean for India? It’s mayhem in US stock markets! The S&P 500 has plunged more than 10% since its highest level which was seen last month. The turbulence is being caused by US President Donald Trump’s trade war…
IT companies in reset mode amid slow growth in AI times
BENGALURU: Indian IT firms generated around $20 billion in free cash flows last year, and more than 75% was returned to shareholders. Industry experts believe Indian IT firms are in for a big reset, especially with AI disrupting the linear relationship between revenue and employment.The Indian IT sector is reeling under a single-digit growth cycle….
Omaha’s oracle cash craze: Is Warren Buffett about to make his next big move?
Is Warren Buffett about to make his next big move? (Photo-AP) When Warren Buffett made the bold move of slashing his Apple shares and hoarding cash, the financial world buzzed. Social media exploded with memes and mixed opinions. Some hailed him as a genius, while others questioned his timing. Fast forward to today, and the…
Watsa-backed Value Attics gets reinsurance licence
MUMBAI: Value Attics Reinsurance has received a reinsurance licence from insurance regulator Irdai, making it the first private-sector reinsurer. This ends the five-decade monopoly of the public-sector reinsurer GIC Re. The approval was granted at Irdai’s board meeting, the last meet under chairman Debasish Panda, whose term ends this week. Govt has invited applications for…
ICAI may review financial statements of IndusInd Bank amid accounting discrepancies
NEW DELHI: Chartered accountants’ apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore. The private sector lender, on March 10, disclosed some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35 per cent of the…
At 7.3%, Kerala has highest retail inflation rate in February
NEW DELHI: Kerala had the highest inflation rate among states, while Telangana had the lowest rate in Feb, latest data showed, highlighting that price pressures continue to persist in some of the larger states.Kerala recorded an inflation rate of 7.3% in Feb, followed by Chhattisgarh at 4.9%, Karnataka at 4.5%, Bihar at 4.5% and Jammu…
LG India gets Sebi nod for Rs 15,000-crore IPO
NEW DELHI: LG Electronics India, a subsidiary of the South Korean chaebol LG, has received markets regulator Sebi’s approval for its Rs 15,000 crore initial public offering (IPO), people familiar with the matter said on Thursday.This will be the second South Korean company to tap the Indian stock market following the listing of Hyundai Motors…
Patanjali, DS Group buy Magma Insurance at Rs 4,500 crore valuation
Yog guru Baba Ramdev and Patanjali Ayurved’s Managing Director Acharya Balkrishna (ANI Photo) MUMBAI: The board of Magma General Insurance has approved a share purchase agreement under which Patanjali Ayurved and several foundations will acquire a controlling stake in the company. The agreement, finalised on March 12, involves the transfer of equity shares from existing…