Economy news - NewsLocker

Meta To Lay Off 3,600 Employees, Mark Zuckerberg Targets Low Performers

15-01-2025 06:04 via zeenews.india.com

Meta is cutting jobs as part of its goal to reach 10 per cent “non-regrettable” attribution by the end of the current performance cycle, as per the memo.

Apple Co-Founder Steve Jobs’ Wife Laurene Powell Has Keen Interest In Sanatan Dharma; Finds Satisfaction In..., Says Guru

15-01-2025 05:01 via zeenews.india.com

Guru Mahamandaleshwar Swami Kailashanand Giri of the Niranjani Akhara described his newest disciple Laurene as a "simple, virtuous, and humble" woman with a keen interest in Sanatan Dharma.

Stock market today: BSE Sensex opens over 250 points up; Nifty50 near 23,200

15-01-2025 04:48 via timesofindia.indiatimes.com

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Wednesday. While BSE Sensex was above 76,700, Nifty50 was near 23,200.

EPFO Members Alert! Do This To Avail ELI Scheme Benefits; Deadline Ends Today

15-01-2025 04:48 via zeenews.india.com

Employment Linked Incentive (ELI) Scheme announced in Union Budget 2024-25 aimed at ensuring payments of Subsidy/Incentive to the beneficiaries of the welfare schemes through Aadhaar Payment Bridge and ensuring 100% Biometric Aadhaar Authentication.

Top stock recommendations for January 15, 2025

15-01-2025 03:54 via timesofindia.indiatimes.com

Stock market recommendations: Stock picks for today include CONCOR with a buy range of Rs 760 - Rs 740, ITC near Rs 435, and Tata Steel near Rs 125. Analysts suggest these stocks due to key support levels observed in their charts. Specific stop-loss and target points are provided for each stock.

Goyal: Signing FTAs only after consultations with stakeholders

14-01-2025 23:59 via timesofindia.indiatimes.com

Commerce and industry minister Piyush Goyal states that India's free trade agreements are now finalized after extensive consultations with all stakeholders, offering equitable terms. Highlighting the EFTA pact with a $100 billion FDI commitment, he contrasts current deals with past practices, emphasizing national interests and growth in exports.

'IT hiring may not keep pace with biz growth'

14-01-2025 23:54 via timesofindia.indiatimes.com

HCLTech CEO C Vijayakumar highlights that while the demand for skilled IT professionals and higher billing rates will continue, revenue growth might outpace headcount additions. The company reduced its fresher recruitment target, stressing the importance of embracing generative AI for incremental value.

Demerger to push pace of growth: ITC Hotels MD

14-01-2025 23:49 via timesofindia.indiatimes.com

ITC Hotels, now a separate debt-free entity, aims for accelerated growth with its six brands. ITC Hotels plans to increase its room capacity to over 18,000 rooms across 200 hotels by 2030 through an asset-right strategy. Managing Director Anil Chadha highlighted the focus on upscale and economy segments, and the continued importance of food and beverage in their revenue generation.

Wholesale inflation rises to 2.4% in December

14-01-2025 23:46 via timesofindia.indiatimes.com

Wholesale price inflation accelerated in December to 2.4% annually due to rising prices of some manufactured products and non-food items. Food articles inflation eased slightly to 8.5%, with vegetables at 28.7%. Potato inflation surged to 93.2%. Manufactured product prices increased by 2.1%.

Pharma, med-tech seek sops to boost research

14-01-2025 23:43 via timesofindia.indiatimes.com

In efforts to boost innovation, pharma and med-tech sectors in India seek a 10% allocation from the National Research Fund, reinstatement of 200% weighted deductions for R&D, and tax incentives for AI research in the Union Budget. They also call for reduced import duties and GST on medical devices to enhance affordability and ensure quality healthcare for patients.

Sebi proposes compulsory demat share issuance during stock-split

14-01-2025 23:39 via timesofindia.indiatimes.com

SEBI proposes issuing only demat shares during share splits, consolidations, and corporate restructuring to eliminate risks tied to physical certificates. A consultation paper highlights demat's advantages like fraud prevention and increased transparency, aiming for mandatory dematerialisation of securities. Public comments are invited until February 4.

E-commerce emerges as top paymaster in 2024

14-01-2025 23:35 via timesofindia.indiatimes.com

In 2024, the internet and e-commerce sector led in pay across all levels, with top executives earning an average of Rs 37 lakh. Professional services, business consulting, and media closely followed. Healthcare topped senior and middle-level pay due to digital integration and job growth. Bengaluru emerged as the top talent hotspot, while Mumbai excelled in senior-level salaries. Tier-2 cities Bhopal, Mysore, and Kanpur showed impressive growth in junior-level roles.

RBI looks to retain stance on rupee amid volatility

14-01-2025 23:30 via timesofindia.indiatimes.com

The RBI will continue its currency market intervention strategy to manage excessive volatility and maintain macro-economic stability. The rupee hit a new low of 86.63 against the dollar amid speculation about a more flexible approach. Active interventions have used significant foreign exchange reserves since September to defend the Indian currency.

RBI rejigs portfolios of deputy governors as MD Patra's term ends

14-01-2025 18:03 via timesofindia.indiatimes.com

The Reserve Bank of India has reallocated the responsibilities of its deputy governors following the end of Deputy Governor Michael Debabrata Patra's extended term. M Rajeshwar Rao will now handle the monetary policy department among other key departments, while T Rabi Sankar and Swaminathan Janakiraman are assigned to various departments as part of the reshuffle.

Ingram Micro promotes Sanjib Sahoo to president of global platform group

14-01-2025 17:37 via timesofindia.indiatimes.com

Sanjib Sahoo has been promoted to President of Ingram Micro’s Global Platform Group, continuing to develop the B2B technology platform, Xvantage. Previously the executive vice president and chief digital officer, Sahoo's new role focuses on enhancing real-time interactions and reducing transaction friction, supporting Ingram Micro's goal of becoming a platform company.

Commerce Ministry may seek 5-year extension of interest equalisation scheme for exporters in Budget

14-01-2025 17:20 via timesofindia.indiatimes.com

The commerce ministry in India is expected to seek an extension of the interest equalisation scheme for five more years in the upcoming Budget. This scheme assists exporters in obtaining competitive rupee export credits, particularly benefiting MSMEs during challenging economic times. Exporters and organizations like FIEO are supporting the extension, emphasizing its importance for maintaining competitiveness.

Specially Modified Vande Bharat Train To Connect Jammu To Kashmir With World-Class Amenities

14-01-2025 16:02 via zeenews.india.com

Jammu To Kashmir VB Train: Union Minister of Railways, Ashwini Vaishnaw, has unveiled a video showcasing a new Vande Bharat Express train tailored for the Katra-Srinagar route.

Salary hikes, workforce expansion expected this year: Report

14-01-2025 15:47 via timesofindia.indiatimes.com

Employees in India can expect a 9.4% salary increase in 2025, driven by economic growth and high demand for skilled talent. The automotive sector leads with a projected 10% rise, while manufacturing and engineering follow closely. Voluntary attrition is anticipated to stabilize at 11.9%, and 37% of organizations plan workforce expansion to meet demand.

Sebi issues warning to J&K Bank for delayed disclosure of MD appointment

14-01-2025 15:46 via timesofindia.indiatimes.com

Sebi has cautioned J&K Bank for delayed disclosure of the appointment of its MD & CEO, Amitava Chatterjee. The disclosure, crucial due to the stock price surge, was made 1 hour and 40 minutes late. Sebi urged the bank to improve compliance to prevent future infractions.

ASCI tightens rules for LinkedIn influencers

14-01-2025 15:42 via timesofindia.indiatimes.com

ASCI has issued an advisory to LinkedIn influencers to disclose connections with brands they promote, aiming to maintain adherence to regulatory standards. In the past week, 60 cases were flagged for non-disclosure, with 56 under investigation. This advisory seeks to prevent misleading practices, ensuring transparency and the integrity of influencer marketing.

Mahakumbh Mela 2025: Air India To Operate Daily Delhi-Prayagraj Flights: Check Timings And How to Book

14-01-2025 15:01 via zeenews.india.com

Delhi To Prayagraj Air India Flight: Prayagraj has registered a 162 per cent year-on-year increase in flight bookings on ixigo while nearby airports like Varanasi and Lucknow have seen a 127 and 42 per cent growth in bookings, respectively.

It's India's moment in history, well poised to become developed nation by 2047: ITC chief Puri

14-01-2025 14:59 via timesofindia.indiatimes.com

India is poised to become a global economic powerhouse, with reforms such as GST and infrastructure growth driving its rise to the world's fifth-largest economy. ITC Chairman Sanjiv Puri expressed confidence that India could be a developed nation by 2047, with its strategic focus on energy transition and digital transformation.

Domestic aviation industry to face Rs 2,000 crore loss in FY25 due to supply chain and engine challenges

14-01-2025 14:58 via timesofindia.indiatimes.com

India's domestic aviation industry is set to incur a net loss of Rs 2,000 to Rs 3,000 crore in the coming fiscal years due to ongoing supply chain issues and engine problems. While passenger traffic saw growth, the pace is expected to slow in FY25. International passenger traffic is forecasted to increase by 15-20% in FY25.

Average Salary Hike Projected To Be 9.4 Per Cent In 2025: Report

14-01-2025 14:34 via zeenews.india.com

It is also expected that this year some organisations will focus on strategic recruitment, competitive compensation, upskilling, and employee engagement to attract talent, reduce turnover, and sustain growth to address workforce demands.

Hyundai, Kia's Eco-Friendly Car Exports Rise 3% Last Year

14-01-2025 14:05 via zeenews.india.com

Hyundai Motor and its affiliate Kia said on Tuesday their combined exports of environmentally friendly vehicles climbed 3 per cent in 2024 from a year earlier despite an economic slowdown.

Essar’s EET Fuels secures $350 million fresh funding

14-01-2025 13:58 via timesofindia.indiatimes.com

EET Fuels, operating as Essar Oil (UK), secures $350 million in new bank and upsized trade credit financing, including $150 million from Afreximbank. This fund aims to reduce carbon emissions by 95% and develop Stanlow as an energy transition hub, focusing on industrial carbon capture and low carbon hydrogen production.

Atal Setu Sees Average Daily Traffic Of 22,689 Vehicles In 1 Year, Below Initial Estimates

14-01-2025 13:47 via zeenews.india.com

India's longest sea bridge Atal Setu, inaugurated a year ago, recorded an average traffic of fewer than 23,000 vehicles per day, lower than the initiation projections of handling more than 56,000 vehicles daily.

Spectre of inflation looms as oil jumps past $81

14-01-2025 13:43 via timesofindia.indiatimes.com

Global oil prices have surged to over $81 per barrel due to new US shipping sanctions affecting Russian oil shipments, leading to increased demand for Middle-East/US crude and tankers. This rise in costs is expected to delay fuel price cuts in India, impacting fuel retailers' margins and the economy.

TCS Global Study Finds 64% Of Consumers Likely To Choose EV As Next Vehicle

14-01-2025 13:40 via zeenews.india.com

More than 6 out of 10 consumers in different parts of the world, including India, are likely or very likely to consider an electric vehicle for their next purchase, although 60 per cent of them considered charging infrastructure as a major challenge, according to a study.

Meta To Get Parliamentary Panel Summon Over Mark Zuckerberg's Remarks On 2024 LS Polls

14-01-2025 12:37 via zeenews.india.com

Mark Zuckerberg's generalised statement on the 2024 elections invited a quick counter from Union Minister Ashwini Vaishnaw who termed it "factually incorrect".

Sensex, Nifty Rebound Amid Easing Inflation, Buying In Bank, Energy Stocks

14-01-2025 11:57 via zeenews.india.com

The 30-share BSE benchmark Sensex rose 169.62 points or 0.22 per cent to settle at 76,499.63. During the day, it surged 505.6 points or 0.66 per cent to 76,835.61.

Now, Akasa gets 'warning letter' from DGCA after 'lapses' in the carriage of dangerous goods

14-01-2025 11:36 via timesofindia.indiatimes.com

The DGCA issued a warning letter to Akasa for lapses in dangerous goods carriage found during a December 2024 inspection. Violations included unchecked electronic devices with lithium batteries and shipments over permissible limits. Akasa admitted the lapses and took corrective actions. The DGCA warned Akasa to ensure future compliance and submit an internal audit report within 30 days.

Small finance banks' growth to slow down to 18-20 % in FY2025: ICRA

14-01-2025 11:34 via timesofindia.indiatimes.com

Small finance banks (SFBs) are projected to experience slower growth of 18-20% in FY2025, down from 24% in FY2024, due to rising delinquencies and asset quality issues. The GNPA ratio in the microfinance segment is expected to increase, and funding pressures with higher deposit competition may affect profitability.

PM-Surya Ghar Muft Bijli Yojana: Govt Issues New Guidelines; All You Want To Know About Free Electricity Scheme

14-01-2025 11:33 via zeenews.india.com

PM-Surya Ghar Muft Bijli Yojana: The households will have to apply for subsidy through the National Portal and will be able to select a suitable vendor for installing rooftop solar.

'Trump Tantrum' likely to have temporary effect on Rupee: Report

14-01-2025 10:52 via timesofindia.indiatimes.com

US President-elect Donald Trump’s second term is expected to temporarily impact the Indian rupee. Historical trends suggest rupee has performed better under Republican administrations, with current volatility predicted to be short-lived. Despite a recent 3% dip, the rupee remains stable compared to other currencies.

India's Coal Imports Decline By 3.1 Per Cent During April-October As Local Production Rises

14-01-2025 10:19 via zeenews.india.com

Despite a growth of 3.87 per cent in coal-based power generation from April 2024 to October 2024 compared to the same period last year, coal imports for blending by thermal power plants saw a sharp decrease of 19.5 per cent as domestic production has gone up.

Game On! Maruti To Challenge Mahindra XUV700, Tata Safari, Nexon With THESE Two SUVs In 2025; One With '35kmpl Mileage'...

14-01-2025 10:07 via zeenews.india.com

Maruti Upcoming SUVs: According to the media reports, Maruti plans to launch two new hybrid cars this year, which could include a facelift version of the existing Fronx and a 7-seater model based on the Grand Vitara.

Growth Of Small Finance Banks In India Projected To Reach 20-23 Per Cent In FY26

14-01-2025 10:04 via zeenews.india.com

ICRA expects the SFB growth to moderate in FY25 to 18-20 per cent from 24 per cent in FY24, and subsequently pick up in FY26 to 20-23 per cent.

Adani Group stocks rise as Adani Power surges over 19%

14-01-2025 09:46 via timesofindia.indiatimes.com

Adani Group stocks experienced a significant recovery on Tuesday, with Adani Power leading the surge by 19.29%. Other notable increases included Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. Benchmark indices Sensex and Nifty also rebounded, with the BSE Sensex rising by 505.6 points.

Wholesale price inflation rises to 2.37% in December

14-01-2025 09:05 via zeenews.india.com

As per the data, inflation in food items eased to 8.47 per cent in December 2024, as against 8.63 per cent in November. Inflation in vegetable stood at 28.65 per cent, as against 28.57 per cent in November.

JLR, Tata Communications Strengthen Partnership For Connected Car Tech

14-01-2025 08:30 via zeenews.india.com

Jaguar Land Rover and Tata Communications have strengthened their collaboration for connected car technologies, the companies said in a joint statement on Tuesday.

L&T Head HR Breaks Silence On Chairman SN Subrahmanyan's 90 Hours Work-Week Controversy; Says THIS

14-01-2025 07:04 via zeenews.india.com

Muraleedharan in a long post on LinkedIn wrote that "It's truly disheartening to see how the words of our MD & Chairman, SN Subrahmanyan (SNS) have been taken out of context, leading to misunderstandings and unnecessary criticism."

Jumped Deposit Scam: NCPI Issues Clarification; Addresses 3 Technical Misconceptions Regarding UPI Transactions

14-01-2025 06:52 via zeenews.india.com

NCPI has said that it encourages users to continue using UPI with confidence, assured by its robust, built-in security features that makes it both secure and reliable.

Are Banks Closed Today 14 January For Makar Sankranti, Pongal? Check Before Visiting Your Branch

14-01-2025 06:32 via zeenews.india.com

Added to that as per RBI list, bank branches will remain closed for these days in January 2025

Fog blankets Delhi, Train schedules Disrupted

14-01-2025 06:06 via zeenews.india.com

A thick blanket of fog engulfed Delhi on Tuesday morning, reducing visibility to zero and disrupting train schedules, officials said.

Markets Bounce Back After Four Days Of Slide; Sensex Jumps 449 Points

14-01-2025 05:58 via zeenews.india.com

The 30-share BSE benchmark Sensex jumped 449.48 points to 76,779.49 in early trade. The NSE Nifty climbed 141.25 points to 23,227.20.

Tesla CEO Elon Musk To Buy TikTok US Operations? Bloomberg Reports

14-01-2025 05:54 via zeenews.india.com

A report in the Bloomberg on Monday revealed that Chinese officials are in preliminary discussions regarding the acquisition of TikTok’s US operations by Elon Musk, incase the popular social media platform faces a ban in the US.

Kotak sounds alarm on ‘narrative stocks’

14-01-2025 04:53 via timesofindia.indiatimes.com

Stocks in India are expected to stabilize after a significant drop, with Nifty futures showing a slight increase. Despite record equity investments in real estate, analysts warn of potential future earnings issues for developers. Kotak Securities highlights the risk of overvalued 'narrative stocks,' while further losses for the rupee are anticipated due to a less active RBI.

Stock market today: BSE Sensex rises over 350 points; Nifty50 near 23,200

14-01-2025 04:50 via timesofindia.indiatimes.com

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green a day after the significant market crash. While BSE Sensex was above 76,600, Nifty50 was near 23,200.

'Recognise efforts rather than misinterpret them': L&T HR head defends chairman’s 90-hour workweek remark

14-01-2025 03:49 via timesofindia.indiatimes.com

L&T’s HR head Sonica Muraleedharan clarifies Chairman S N Subrahmanyan's remarks about a 90-hour work week, explaining that his comment was misinterpreted and not intended to mandate extreme working hours. Muraleedharan emphasizes Subrahmanyan’s supportive leadership and commitment to employee growth, urging understanding of his true intentions.