Category: Business & Economics

Finance Minister Sitharaman Convenes with AIIB Board of Directors in New Delhi

Manish Kumar

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman held a meeting with the Asian Infrastructure Investment Bank (AIIB) delegation, comprising 11 officials of the Board of Directors of AIIB from 9 different constituencies, senior representatives of the AIIB Management and AIIB staff visiting India for the Board group visit, in New Delhi, today. Key purpose of the AIIB Board visit India is to provide the Board of Directors a holistic insight into the AIIB’s ongoing and planned investments in its member countries and provide an opportunity to engage…

Farewell, Vistara: Tata Group’s Strategic Merger with Air India Reshapes Indian Aviation

Manish Kumar

The Journey of Indian Aviation and Vistara’s Role India’s aviation industry has seen a remarkable journey, evolving from a small and state-dominated sector into one of the fastest-growing markets globally. For decades, full-service airlines like Air India, Kingfisher, and Jet Airways dominated the skies, offering premium experiences for travellers who could afford them. However, the entry of low-cost carriers, particularly IndiGo, disrupted the landscape, shifting focus toward affordability and efficiency. In 2015, Vistara entered the scene, positioning itself as a premium alternative with its exceptional service and attention to detail.…

India’s Strategic Move on Russian Oil: Benefiting Global Stability and National Energy Security

Manish Kumar

India’s Position in Global Oil Markets India, the world’s third-largest oil consumer, has continued to purchase Russian oil, a decision that has stirred both international and domestic debate. Union Petroleum and Natural Gas Minister Hardeep Singh Puri recently defended this approach in an interview with CNN, stating that India’s decision helped prevent a sharp increase in global oil prices. Speaking at the annual ADIPEC energy event in Abu Dhabi, Puri explained how India’s strategic energy procurement helped stabilize oil prices worldwide, benefitting both the global market and the Indian economy.…

Swiggy’s $1.4 Billion IPO Achieves Full Subscription as Institutional Investors Drive Demand, But Analysts Caution on Listing Gains

Manish Kumar

India’s food and grocery delivery giant Swiggy concluded its initial public offering (IPO) on a high note, achieving full subscription for its $1.4 billion share sale. This marks one of the country’s largest IPOs of the year, second only to Hyundai Motor India’s recent listing. While retail investor interest was somewhat modest, institutional demand propelled Swiggy’s IPO to success, with the institutional investor segment oversubscribed by 131%. Despite this strong showing, market analysts anticipate a subdued debut for Swiggy on the stock exchange, reflecting ongoing market challenges and Swiggy’s own…

India’s Financial Crime Agency Raids Sellers on Amazon and Flipkart Platforms Over Foreign Investment Violations

Manish Kumar

Scrutiny on E-commerce Giants In a significant escalation of regulatory scrutiny in India’s e-commerce sector, the Enforcement Directorate (ED), India’s financial crime agency, recently raided offices of sellers operating on Amazon and Walmart-owned Flipkart. These raids are part of an ongoing investigation into potential violations of India’s foreign investment laws, which dictate the operations of foreign-owned online marketplaces in the country. The move underscores India’s increasingly assertive regulatory stance, particularly regarding the impact of foreign e-commerce giants on local businesses and competition. Raids Across Key Cities in India The ED’s…

Jet Airways’ Journey Ends: Supreme Court Orders Liquidation, Closing a Chapter in Indian Aviation

Manish Kumar

Supreme Court slams NCLAT’s ruling and ordered immediate liquidation Jet Airways’ liquidation ruling ends years of failed revival attempts Becomes the second major airline in India to be liquidated under the IBC Rise and Fall of Jet Airways Once a symbol of luxury and reliability in India’s skies, Jet Airways’ journey has officially come to an end with the Supreme Court’s ruling for its liquidation on November 7. Established in 1993, Jet Airways rose to prominence as India’s premier private airline, known for its world-class service and extensive network, which…

Paytm Simplifies Financial Management with UPI Statement Download

Manish Kumar

One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services distribution company and the pioneer of mobile payments, QR, and Soundbox, has launched a new UPI statement download service. This innovative service empowers users to monitor and manage their spending by allowing them to easily access their transaction records for any date range or financial year in a simple, downloadable PDF format (Excel format to be introduced soon). As digital payments gain popularity, this functionality meets the evolving needs of Paytm users who seek transparency…

Sensex Soars Over 1,000 Points as Trump Declares Victory in U.S. Presidential Election

Manish Kumar

Indian stock markets experienced a robust rally on Wednesday after former President Donald Trump declared victory in the U.S. elections. Amid a close race between Trump and his opponent, Kamala Harris, the announcement lifted market sentiment, easing some of the volatility seen earlier in the session. Major indices like the Sensex and Nifty saw impressive gains, driven largely by the rally in IT stocks, as investors anticipated potential benefits for the Indian economy. Market Reaction: Sensex and Nifty Rally Strongly As of 2:28 p.m., the S&P BSE Sensex had surged…

Indian Rupee Hits Record Low as Trump Leads in US Election: What This Means for India’s Economy

Manish Kumar

On Wednesday, the Indian rupee tumbled to an all-time low of 84.23 against the US dollar following early reports from the 2024 U.S. presidential election, showing Republican candidate Donald Trump in the lead over Democrat Kamala Harris. As markets responded to the emerging political landscape, the dollar surged, putting downward pressure on the Indian rupee and other Asian currencies. This volatility could have broader implications for India’s economy, especially in areas like trade, foreign investment, and inflation. This article unpacks the reasons behind the rupee’s sharp decline, explores the potential…

Bosch to Lay Off 7,000 Employees Amid Struggles in Automotive Sector

Manish Kumar

A Challenging Year for the Automotive Industry Amid a challenging economic climate for the automotive sector, German tech giant Bosch has announced significant layoffs, citing lower-than-expected returns on sales in 2024. As a leading supplier of essential automotive parts, Bosch is expected to lay off 7,000 employees across its German plants, with a focus on the automotive supply sector. The decision reflects broader difficulties facing the automotive industry, which has seen declining revenues and cost-cutting measures from major players. Bosch’s move highlights the struggles and shifting priorities within this sector…