Market News
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Government and RBI building vital buffer against external volatility by appropriate liquidity measures to support inflow of foreign capital: FICCI
Mr Anant Goenka, President, FICCI said, FICCI welcomes the RBIs decision to keep the policy repo rate unchanged at 5.25 per cent while maintaining a neutral stance. This is a balanced and prudent decision given the heightened global uncertainty and maintaining policy stability at this juncture provides confidence to businesses and investors alike. FICCI also welcomes the proactive regulatory measures announced by the Ministry of Finance and the RBI to strengthen external sector resilience and facilitate capital inflows. The decision to review the regulatory framework for Foreign Portfolio Investments in Government Securities along with rationalisation of taxes on such investments will deepen the G-Sec market and attract greater participation of FPIs in Indian government securities.
Electric mobility key to long-term fight against air pollution: UNEP chief
A top UN official stresses electric mobility and mandatory vehicle emissions testing for long-term air pollution solutions. India's plan to phase out older commercial vehicles with cleaner alternatives is highlighted. Investment in clean public transport and cleaner cooking solutions is crucial. Addressing local pollution sources like construction dust and waste burning is also vital for a healthier future.
India must fast-track chip self-reliance as import bill and security risks mount, says NITI Aayog
India must speed up its domestic chip manufacturing efforts. Self-reliance in semiconductors is crucial for the nation's economy and security. Global supply chains are shifting, creating a limited opportunity for India to become a key player. Developing this sector will lower costs for advanced technologies and safeguard defense programs. This is vital for India's progress.
Q4 results today: Asian Paints, IndiGo, IREDA, Glenmark Pharma - 131 companies to announce earnings on 29 May
A total of 131 companies are slated to announce Q4 results on May 29, including Asian Paints and IndiGo. Analysts predict weak performance for Asian Paints due to urban demand issues, while NMDC's results may reveal vital industry insights on iron ore prices and demand trends.
US warns ties with Iran’s Strait of Hormuz authority may bring sanctions for 'anyone' involved
America has issued a stern warning to global shipping and finance firms. Cooperation with Iran's new Persian Gulf Strait Authority could invite US sanctions. This move escalates pressure on Tehran's control over the vital Strait of Hormuz. The US Treasury Department stated that such cooperation might support Iran's Revolutionary Guard Corps.
US adds Persian Gulf Strait Authority to sanctions list, Treasury website shows
The US has imposed new Iran sanctions, targeting the Persian Gulf Strait Authority, responsible for managing passage through the vital Strait of Hormuz. This move comes as Iran's control over the waterway, crucial for global oil, has caused economic instability. The authority recently asserted Tehran's territorial claims in the region.
Global power equations to shift further towards energy, critical minerals: Former Vedanta Group CEO
Global power is shifting towards energy security and resource control. Geopolitical tensions are reshaping industrial supply chains. Critical minerals are becoming as vital as oil was. Countries controlling these resources will gain leverage. India must accelerate domestic exploration and build processing ecosystems. Future economic strength depends on securing energy and critical minerals.
Monetise idle household gold, ease compliance burden to build Viksit Bharat: Kotak MF's Nilesh Shah
Nilesh Shah of Kotak Mutual Fund suggests India must unlock its vast household gold reserves. He also calls for easing business regulations. These steps are crucial for India's development. He highlighted significant gold imports and the potential of gold financing. Entrepreneurs are driving innovation despite challenges. Support for businesses is vital for global competition.
Edible oil industry body calls for boosting output, adopting modern farming amid West Asia crisis
India's edible oil imports are a significant economic concern. The Solvent Extractors' Association of India urges increased domestic oilseed production and smarter consumption. These steps are vital for national economic and strategic resilience. The industry seeks policy support to navigate global disruptions and currency fluctuations. Focusing on self-sufficiency offers a path to avoid future crises.
Govt extends subsidy scheme for companies flagging merchant ships until FY31
India's shipping ministry has extended a vital subsidy scheme for Indian companies flagging merchant ships. This initiative will now run until the financial year 2030-31. The scheme aims to boost India's maritime fleet and global shipping presence. It provides financial support to Indian shipping companies bidding for government cargo tenders.
CAG conducting special audit of 101 cities to assess ease of living, says Murthy
India is auditing 101 cities to understand citizen ease of living. The Comptroller and Auditor General is also examining transport and logistics. This is part of a BRICS summit in Bengaluru focusing on urban mobility. Cities are vital for India's GDP and job creation. Effective urban mobility requires integrated systems, not just infrastructure.
Venus Remedies expands Latin America presence with Argentina nod for antibiotic
Venus Remedies has received approval in Argentina for its antibiotic Ceftriaxone. This marks a significant step in the company's Latin America expansion. Argentina is a key market for critical care therapies. Ceftriaxone is vital for treating serious bacterial infections. This authorization strengthens Venus Remedies' global presence and commitment to accessible anti-infective treatments.