Telangana to raise ₹16,000 crore market borrowings in the first quarter of FY 2024-25

RBI releases schedule of borrowings in indicative calendar

from | The Hindu

India is a price-sensitive market, says IndiGo CEO

According to travel portal Cleartrip, airfares are likely to be elevated in the short term

from | The Hindu

Why is unemployment high among the youth? | Explained

What has the India Employment Report 2024, prepared by the Institute for Human Development and the International Labour Organization, found? Why are educated youth also not getting jobs? Why is women participation in the labour force low? What are some of the correctives suggested in the report?

from | The Hindu

India's forex reserves rise by $140 million to hit fresh peak of $642.63 billion

Gold reserves increased by $347 million to $51.487 billion during the week, the RBI said.

from | The Hindu

Under Google, NCPCR pressure, IPO-bound Ullu drops adult content

The firm has been censured by a streaming self-regulatory body it is a member of, and received scrutiny from the National Commission for Protection of Child Rights.

from | The Hindu

Priyanka Gandhi slams govt over 'rising debt'

Why is the BJP government drowning the people in debt when instead of providing relief to them, the burden of unemployment, inflation and economic crisis kept on increasing in the last 10 years, Ms. Gandhi said in a post on X

from | The Hindu

Agrochemical firm Best Agrolife acquires Sudarshan Farm Chemicals at an EV of ₹139 crore

from | The Hindu

Kalyan Jewellers to enter U.S. market in FY25

from | The Hindu

Only 4% of organisations in India ready to tackle cybersecurity risks: Cisco

from | The Hindu

Net claims of NRIs on India declined by $12.2 bn. during Oct.-Dec. 2023

from | The Hindu

Core sector output growth spurts to 6.7% in February

Core sectors’ output growth was led by double-digit upticks in coal, natural gas and cement.

from | The Hindu

Rising racial tensions cost German businesses skilled foreign labour

Xenophobic hate crime cases recorded across Germany by the interior ministry more than tripled between 2013 and 2022 to more than 10,000; meanwhile, German companies have expressed concern about the difficulty of hiring and even losing staff due to rising anti-immigrant sentiment

from | The Hindu

Rupee turns flat at 83.33 against U.S. dollar in early trade

Forex traders said the positive equity markets and inflow of foreign funds resisted the fall in the rupee.

from | The Hindu

Rupee trades in narrow range against U.S. dollar in early trade

Forex traders said elevated crude oil prices in the international market dented investors’ sentiments

from | The Hindu

In India’s sizzling bourses, consumer stocks rise 18% but are laggards

Stock prices of consumer firms selling soap, hair oil and refrigerators are seeing double-digit gains but are still lagging benchmark Indian stock indexes as low-income growth and volatile inflation hurt demand for everyday goods

from | The Hindu

South Korea's push to make its markets global dogged by FX history

While foreign exchange regulators are now considering modest steps to make the won more global, memories of bruising foreign exchange crises cast a long shadow over reforms

from | The Hindu

Shapoorji Pallonji Group sells Gopalpur Port in Odisha to Adani Ports for ₹3,350 crore

This is the second port divestment in the last few months from the Shapoorji Pallonji Group; the conglomerate had earlier divested its Dharamtar Port to JSW Infrastructure Limited for an enterprise value of ₹710 crore

from | The Hindu

Robusta coffee price touches all-time high amid global shortage

Price of Robusta coffee has spiked due to drastic fall in traditional growing regions - Vietnam and Indonesia

from | The Hindu

India Yamaha Motor plans to capture 10% market share in CY27

from | The Hindu

Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis

Boeing CEO Dave Calhoun will be stepping down at the end of the year even as the company struggles with delivery delays and quality issues

from | The Hindu

In a first, Amul to launch fresh milk in U.S. within a week: MD Jayen Mehta

The milk collection and processing will be done by MMPA, while GCMMF will do marketing and branding of Amul fresh milk

from | The Hindu

Wages of Indian workers have remained almost same in last 10 years: Data

A report by Bahutva Karnataka shows that the share of self-employed workers increased, while the share of those in formal employment remained low

from | The Hindu

Congress slams PM Modi over fall of rupee against U.S. dollar

Congress said the falling value of the rupee impacts the pocket of every Indian due to rising fuel rates, inflation and higher EMIs for loans

from | The Hindu

Clinical trials of Spanish tuberculosis vaccine MTBVAC begin in India

Bharat Biotech has started Phase 3 trials of the first live attenuated vaccine of Mycobacterium TB isolated from a human strain, Spanish biopharma firm Biofabri has completed Phase 1-2 in other countries

from | The Hindu

SC denies interim relief to Birlas in Lodha case, admits appeal against HC Division Bench verdict

Supreme Court refuses interim relief to Birlas in legal battle over MP Birla Group estate control

from | The Hindu

Why is the DGCA firm on new rest rules for pilots? | Explained

What are the changes to pilots’ rest norms introduced by the Directorate General of Civil Aviation? Why were they brought about? When is the deadline for implementation? Why are the airlines unhappy? What are the pilots saying?

from | The Hindu

Sugar production estimate revised up to 340 lakh tonnes

from | The Hindu

Govt extends ban on onion exports till further orders

from | The Hindu

Top 1% Indians’ share in national income is higher now than under British-rule: Data

Post-liberalisation, the income share of the top 10% skyrocketed, with that of middle 40% and bottom 50% steadily falling

from | The Hindu

Somali pirates’ return exacerbates the crisis for global shipping companies

Pirates had been dormant for almost a decade; 2008-2014 attacks cost the global economy billions of dollars; recent pirate raids are increasing costs for shippers as pirates take advantage of security vacuum left by Houthi strikes; the raids are piling the risks and costs on to shipping companies

from | The Hindu

Bengaluru is key engine of India’s growth story, says Amitabh Kant

‘Not merely the southern part of India grows at more than 10% plus, but the northern part, the eastern part and the western parts also should grow and carry out vigorous reforms to push growth’

from | The Hindu

Rupee rebounds 14 paise to 83.05 against dollar as U.S. Fed indicates 3 rate cuts

At the interbank foreign exchange market, the rupee opened strong at 83.07 against the U.S. dollar compared to the previous close of 83.19. The local unit moved in a range of 83.08 to 83.04 in early deals

from | The Hindu

CCI dismisses pleas of Indian app cos against Google's new Play Store billing policy

from | The Hindu

Zomato says its new ‘pure veg’ fleet will continue to wear red instead of green as originally announced

"All our riders -- both our regular fleet, and our fleet for vegetarians, will wear the colour red," Zomato founder Deepinder Goyal said in the latest update.

from | The Hindu

Norway will invest half of $100 billion under EFTA: Norwegian envoy May-Elin Stener

India has signed a trade pact with EFTA countries — Switzerland, Norway, Iceland, and Liechtenstein — aiming to attract $100 billion and to create one million jobs in 15 years in exchange for tariff concessions for their pharma, chemical and minerals.

from | The Hindu

Guaranteed MSP is an ethical imperative

Farmers hardly get 30% of the price paid by the consumers. This will increase if MSP is guaranteed

from | The Hindu

Regulator snubs revenue projections at Adani-controlled Thiruvananthapuram Airport

AERA says airport’s F&B and retail revenues, used to cross-subsidise passenger costs, are just 12% of the norm in other airports; contract awarded to Adani subsidiary with low revenue sharing structure

from | The Hindu

South Canara Coconut Farmers’ Producer Company Ltd. to launch coconut milkshake, sprout dessert, ice cream

The products will be launched under the brand name ‘Shreephal’

from | The Hindu

Balancing risk perceptions in transition to a responsible renewable-energy system

Continued World Bank support indicates multilateral and development financing still play an important role in the country’s energy transition, and that the renewable sector has yet to develop to the point where private financing can adequately meet the funding needs of this fast-growing sector

from | The Hindu

Flipkart valuation declines by over ₹41,000 crore in two years

Walmart diluted 8% equity in Flipkart for $3.2 billion in fiscal year (FY) 2022 reflecting the enterprise value of the e-commerce at $40 billion

from | The Hindu

Rupee edges up 2 paise to 82.84 against U.S. dollar in early trade

The local currency moved in a narrow range of 82.83 to 82.84 against the dollar in early deals. The rupee closed at 82.86 on March 15

from | The Hindu

Young Chinese again want to study abroad, just not in the U.S.

With an interest in studying abroad rebounding after the pandemic, there are signs that the decades-long run that has sent an estimated 3 million Chinese students to the U.S.

from | The Hindu

Infosys, Biocon, JSW Steel, Shahi Exports donated to JD(S) via electoral bonds

New documents reveal donors contributed ₹48.75 crore to the party before April 12, 2019

from | The Hindu

Adani to invest $14 billion in FY25

Increasing cash flows from fast growing profits have set the stage for mega-scale investments, sources said.

from | The Hindu

A year on from Credit Suisse’s rescue, banks remain vulnerable

The Swiss government-sponsored rescue of Credit Suisse and U.S. bank salvages in March 2023 doused the immediate fires kindled by a run at Silicon Valley Bank

from | The Hindu

Airlines adding new destinations from Bengaluru airport

Virgin Atlantic will start daily direct service between Bengaluru and London (Heathrow)

from | The Hindu

U.S. probing Gautam Adani and Adani Group over potential bribery: report

The investigation is also looking at Indian renewable energy company Azure Power Global

from | The Hindu

Paytm jumps 5% as digital payments app survives banking unit shutdown

Paytm's shares were up 5% at 370.70 rupees early in the session, set for its best day in two weeks.

from | The Hindu

U.S. Feb. retail sales rise 0.6%, strong job market fuels household spending

from | The Hindu

Property titans seek clues in Cannes for a turnaround in real estate market

MIPIM property conference unfolds against backdrop of falling commercial real estate prices and developers wondering what to do with offices emptied out by the pandemic; some investors believe turnaround is near if central banks begin cutting rates, easing companies’ debt burdens

from | The Hindu

Finance Ministry asks PSU banks for comprehensive review of their gold loan portfolio

A directive in this regard was issued last month advising them to fix anomalies relating to collection of fees and interest and closure of gold loan accounts

from | The Hindu

Gasoline, shelter costs drive U.S. inflation higher in February

February marked the second straight month of firmer inflation readings

from | The Hindu

Retail investors' F&O play for quick profits a worry; short-termism biggest risk to growth: CEA

Nageswaran said there is a need to change the outlook from a behaviourial perspective to achieve goals like long-term capital formation and growth

from | The Hindu

Rupee falls five paise to 82.85 against U.S. dollar in early trade

Forex traders said the Rupee is expected to trade with a slight negative bias on recovery in the greenback and concerns over elevated crude oil prices.

from | The Hindu

Pakistan’s new President Zardari to not take salary; cites economic hardship of people

Former president Arif Alvi was drawing Rs 8,46,550 per month, which was fixed by Parliament in 2018

from | The Hindu

As Vladimir Putin orchestrates his reelection, a resilient Russian economy is a key selling point

More than two years since the start of the Ukraine war and despite the sweeping sanctions that have cut off much of Russia’s trade with the West, most Russians find little change in the economy; the sense of stability is an asset for Vladimir Putin

from | The Hindu

Rupee trades in narrow range against U.S. dollar in early trade

At the interbank foreign exchange, the rupee opened at 82.74 against the greenback, then touched 82.72

from | The Hindu

Bank stocks including SBI lead Sensex lower

Among other stocks, JM Financial fell 9.77% to ₹79.35 in the wake of curbs imposed last week by SEBI

from | The Hindu

Bitcoin hits record above $71,000 as demand frenzy intensifies

Bitcoin rose by as much as 4.8% to a record $71,677 in European trading

from | The Hindu

Markets trade lower on weak global trends

Global oil benchmark Brent crude dipped 0.68% to $81.52 a barrel

from | The Hindu

In climate push, German chemical maker swaps oil for sugar

The pilot project involves producing "aniline", a chemical used in making foams — used widely in mattresses and armchairs, as well as building insulation

from | The Hindu

Gig workers suffer from lack of social security, regulations: study

Study of app-based workers shows they work long hours for low pay, with 68% of drivers saying their expenses exceed their earnings; governmental oversight of app algorithms, monitoring mechanisms needed

from | The Hindu

Telangana Govt to raise 2,000 crore market borrowings on March 12

Telangana to cross the limit of ₹9,000 cr additional borrowings allowed by the Centre for Q4

from | The Hindu

Merger with Reliance would boost company’s profits and reduce risk in India: Disney CEO

Last month, Walt Disney Co. and Reliance Industries announced the signing of binding pacts to merge their media operations in India

from | The Hindu

What are the hurdles to fair global trade? | Explained

What did the latest WTO ministerial meeting at Abu Dhabi broadly achieve? What were India’s objectives? 

from | The Hindu

German GDP forecast downgraded but demand for IT professionals stays high

A survey by the ifo Institute notes that companies in Germany are also looking to hire fewer staff; manufacturing, trade, and construction are noted to be the most impacted employment sectors; traders raise concern over tensions along the Red Sea trade route that can impact their shipments

from | The Hindu

Exercise caution to check biases in AI models, says Dell’s Manakame

from | The Hindu

PM to inaugurate passenger terminals at 12 airports across India

Modi will also inaugurate several infrastructure projects during his three-day visit to Assam, Arunachal Pradesh, West Bengal and Uttar Pradesh

from | The Hindu

Karnataka government scraps Electric Bike Taxi Scheme citing safety concerns and misuse

The notification highlights possible misuse of the scheme, and asserts that authorities have become aware of violations, specifically the utilisation of non-transport bikes (with white boards) as bike taxis

from | The Hindu

Rakesh Gangwal likely to sell shares in IndiGo

As of December 2023, promoters' of InterGlobe Aviation owned a 63.13% stake in the company and Mr. Gangwal had an 11.72% shareholding.

from | The Hindu

Govt. panel backs higher carbon tax on coal imports

In its report to the Coal Ministry, the panel said the current carbon tax rate of ₹400 rupees on every metric ton of coal, regardless of the quality bought, favoured imports and hit sales of domestically mined coal

from | The Hindu

Cost of LPG cyclinders to come down by ₹100: PM Modi

On International Women’s Day today, Prime Minister Narendra Modi announced the  reduction in LPG gas cylinder price by ₹100.

from | The Hindu

Low-end internet auctions upend art market: sector-tracker Artprice

Artprice, a market analysis firm, said there were fewer blockbuster auctions in 2023 compared with the previous year, and the overall turnover of $14.9 billion was down 14 percent

from | The Hindu

Morning Digest | Ensure Pakistan does not divert loans to foot its defence, third-country debt bills, India tells IMF; Team India looks to finish on a high in Ashwin’s 100th, and more

Here is a select list of stories to start the day

from | The Hindu

Rupee turns flat at 82.90 against US dollar in early trade

The local unit was also dragged down by the negative sentiment in the equity markets, however, it found support due to some fresh inflow of foreign funds, forex traders said.

from | The Hindu

RBI bars JM Financial from financing against shares, debentures

from | The Hindu

Bezos dethrones Musk to reclaim title of world's richest man

Jeff Bezos' net worth stands at $200 billion; no Indians in the Top 10

from | The Hindu

Powergrid to raise ₹1,200 crore via bonds

The company said the base size of the issue is ₹400 crore, along with the green shoe option of ₹800 crore

from | The Hindu

IT Ministry’s AI ‘under-testing’ advisory only for big firms: Rajeev Chandrasekhar

The advisory, issued over the weekend, said that ‘under-testing’ Artificial Intelligence models should get government approval before launching.

from | The Hindu

Hospitality industry booms in Bengaluru as demand, investment and tourism shoot up

Around 200 new food joints, many star hotels and at least 100 new or redeveloped pubs have come up in Bengaluru in the last year

from | The Hindu

Moody's raises India's 2024 growth forecast to 6.8%

India's real GDP expanded 8.4% year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7% growth for full-year 2023.

from | The Hindu

Rupee rises 4 paise to 82.87 against U.S. dollar in early trade

A positive sentiment in the equity markets supported the rupee, though the local unit was weighed down by an upward movement in the crude oil prices

from | The Hindu

Nifty hits fresh all-time high level in early trade; Sensex climbs 178 points

Global oil benchmark Brent crude climbed 0.11% to $83.64 a barrel

from | The Hindu

U.K. Finance Minister dampens down hopes of tax cuts as election looms

The Chancellor of the Exchequer had been widely expected to cut taxes in Wednesday’s budget, in a move seen as a way of closing the gap on the main Opposition Labour Party ahead of elections.

from | The Hindu

Vijay Shekhar Sharma | Embattled entrepreneur

The founder of Paytm has stepped down as non-executive chairman of its Payments Bank as the company is facing regulatory challenges

from | The Hindu

Singareni workforce told to go for 2.35 L tonnes of production a day to reach target

SCCL Chairman and MD N. Balaram said optimal utilisation of the manpower and machinery in every shift will help the company reach its target of 70 million tonnes of coal production this year

from | The Hindu

U.S. Fed policy report warns on possible financial sector risks

The Fed report said the banking system was “sound and resilient” despite rising challenges

from | The Hindu

Corporate tax cuts bringing in investments and jobs, says Sitharaman

Government is upskilling workforce to match the needs of the industry, which is in a transition phase: Minister

from | The Hindu

GST collections up 12.54% in February

Rising GST revenues “demonstrate continued growth momentum and positive performance”, says the Finance Ministry; revenue from domestic transactions rose 13.9%, while goods imports delivered an 8.5% rise

from | The Hindu

A case for buyer-led responsible renewable procurement

The RE value chain is being exposed to environmental and social challenges just like any other sector; responsible RE procurement policies can set future standards

from | The Hindu

WTO talks extend as leaders discuss ways to break impasse over agri, fisheries issues

Member nations discuss ways to find solutions to issues; India says it will not compromise on livelihood issues

from | The Hindu

Should Minimum Support Price be legalised?

from | The Hindu

Centre hikes windfall tax on petroleum crude

from | The Hindu