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INDIA BUSINESS | Sat, 21 Dec 2024, 5:34PM IST IndiGo now flies directly between Chennai and Penang. This is IndiGo's 37th international destination and third in Malaysia. The new route offers convenient travel for business and leisure. Chennai Airport hosted an inaugural ceremony. The direct flights reduce travel time. Chennai acts as a connecting point for travelers from other major Indian cities.

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INDIA BUSINESS | Sat, 21 Dec 2024, 5:31PM IST According to The Times of India, Pratima Lahre (the bride) and Eman Lahre (the groom) tied the knot on December 18 without following community practices like the 'Sath pheras' or 'Band Baaja.'

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INDIA BUSINESS | Sat, 21 Dec 2024, 5:15PM IST Housing supply in India's top nine cities is projected to decline 33% and sales by 21% in Q4 2024 compared to the same period last year, according to PropEquity. However, both supply and sales saw a quarter-over-quarter increase. Delhi-NCR was the only city to experience year-over-year growth in both categories, defying the national trend.

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INDIA BUSINESS | Sat, 21 Dec 2024, 5:13PM IST The PDP chief alleged that these measures were an attempt by the Centre to make Jammu and Kashmir dependent solely on tourism

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INDIA MARKET | Sat, 21 Dec 2024, 5:11PM IST Bengaluru-based Unimech Aerospace will launch its Rs 500 crore IPO on December 23, with a price range of Rs 745-785 per share. The offering includes a fresh equity issue of Rs 250 crore and an OFS of Rs 250 crore by promoter shareholders. Bidding will close on December 26.

Continue reading at Economic Times

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INDIA BUSINESS | Sat, 21 Dec 2024, 5:10PM IST Indian wealth soared in 2024. Billionaires' net worth increased substantially. Luxury real estate boomed, with significant domestic and international investments. Indians indulged in high-end goods and experiences. The Ambani family's extravagant events exemplified this trend. Wealthy Indians focused on investments, favoring equity, debt, and real estate. Portfolio Management Schemes yielded high returns. Philanthropy and ESG investments gained traction.

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INDIA NEWS | Sat, 21 Dec 2024, 5:02PM IST The Bengaluru civic body has issued a notice to former India captain Virat Kohlis One8 Commune pub on a complaint alleging fire safety violations.The pub, located on the sixth floor of Ratnams Complex on Kasturba Road near the Chinnaswamy stadium, has been alleged of operating without implementing mandated fire safety measures or obtaining a fire department clearance certificate.BBMP's notice comes after a notice filed by social activist Venkatesh, who claims that the lack of fire safety measures poses a risk. 116529449The management of One8 Commune has allegedly failed to respond or take corrective action despite previous notice. The civic body has now given the establishment a 7-day deadline to provide an explanation, warning of legal action if compliance is not ensured.This is not the first time the Kohli-owned pub has been in trouble. In June, the Bengaluru Police registered an FIR against One8 Commune, along with other establishments on MG Road, for operating beyond the stipulated time. 116471667The pub was found to be open until 1.30 am, beyond the permitted closing time of 1 am, the FIR alleged. The police action was based on complaints about loud music being played in the area late at night.The Bengaluru branch of One8 Commune was inaugurated in December 2023. It has branches in other major cities such as Delhi, Mumbai, Pune, and Kolkata.

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INDIA BUSINESS | Sat, 21 Dec 2024, 5:01PM IST The Andhra Pradesh government and EdTech company PhysicsWallah have signed an agreement to set up a University of Innovation (UoI) at an investment of up to Rs 1,000 crore. The UoI is set to emerge as the first institute of eminence in the state and aligns with Chief Minister N Chandrababu Naidu's aim to provide the state's youth with education in Artificial Intelligence (AI) and other emerging technologies. We are committed to investing up to Rs 1,000 crores by GSV Ventures - US and other investors, the purpose is to create an institution that combines academic learning with industry relevance. The UoI will help learners with the skills they might need in a constantly evolving job market, in an attempt to foster entrepreneurship and innovation, said PhysicsWallah founder and chief executive Alakh Pandey in a press release on Friday. The UoI will work towards blending academic excellence, innovation, and research, focusing on addressing key challenges in education and ...

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INDIA BUSINESS | Sat, 21 Dec 2024, 4:57PM IST Bhima Jewellery celebrated its 100th anniversary with a record-breaking single-day turnover of 200 crores in Keralas Thiruvananthapuram, earning a Guinness World Record. The milestone saw sales of over 250 kg of gold and 400 carats of diamonds across three showrooms, driven purely by customer trust and loyalty. Bhima now plans ambitious expansions to take its legacy of purity and trust to a global audience.

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INDIA MARKET | Sat, 21 Dec 2024, 4:35PM IST In early December, 83% of FPI inflows targeted financial services (Rs 7,424 crore), IT (Rs 6,754 crore), and real estate (Rs 4,689 crore). Meanwhile, FPIs offloaded Rs 5,337 crore in oil and gas, Rs 1,823 crore in auto, and Rs 1,655 crore in FMCG stocks.

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INDIA BUSINESS | Sat, 21 Dec 2024, 4:33PM IST A commuter who witnessed the incident took a photo of the scene, which also showed the vehicle's number plate, "MH47 AE5165," and shared it online.

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INDIA COMMODITIES | Sat, 21 Dec 2024, 4:32PM IST The US Dollar Index surged to 108.541, its highest since November 10, 2022, driven by the Fed's hawkish stance and strong US GDP data. It eased to 107.82 on Friday, down 0.55%, but gained 0.82% for the week. Ten-year US yields hit a high of 4.59%, closing at 4.53%, up 3% weekly, while two-year yields peaked at 4.37% before settling at 4.31%, a 2% weekly gain.

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INDIA BUSINESS | Sat, 21 Dec 2024, 4:10PM IST The clip shows the bus recklessly navigating against oncoming traffic, ignoring the imminent danger posed to other vehicles. Despite the chaotic scene, the bus driver continues undeterred, placing passengers on board and other road users in peril.

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INDIA MARKET | Sat, 21 Dec 2024, 4:09PM IST Indian equity markets delivered strong gains in 2024, though momentum eased in the final quarter amid global macroeconomic headwinds. Looking ahead to 2025, Mirae Asset Sharekhan forecasts a phase of consolidation, with midcap and smallcap stocks, including HAL and IPCA Laboratories, expected to take the lead.

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INDIA MARKET | Sat, 21 Dec 2024, 4:05PM IST After a muted earnings performance in the first half of FY25, a recovery is anticipated in H2, fueled by higher rural spending, a strong wedding season, and increased government expenditure. MOFSL projects earnings to grow at a 16% CAGR over FY25-27E.

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INDIA BUSINESS | Sat, 21 Dec 2024, 4:03PM IST Bihar's Deputy Chief Minister Samrat Chaudhary said another meeting of the GoM is scheduled for January before the proposal is reintroduced to the GST Council

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INDIA MARKET | Sat, 21 Dec 2024, 3:53PM IST As 2024 comes to a close, PSU stocks have outshined, with the BSE PSU index delivering nearly 29% returns over the past year, far exceeding the BSE Sensex's 11% gain. Among these, the top 10 stocks posted impressive returns ranging from 48% to 139%.

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INDIA BUSINESS | Sat, 21 Dec 2024, 3:47PM IST In a post on X (formerly Twitter), Saket recounted an encounter with a recent graduate from his alma mater. The graduate's informal greeting, "Hi Saket," struck Saket as disrespectful

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INDIA BUSINESS | Sat, 21 Dec 2024, 3:46PM IST Key proposals on insurance premiums, popcorn classification, and ATF inclusion deferred

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INDIA BUSINESS | Sat, 21 Dec 2024, 3:46PM IST He pointed to predictions that rising temperatures could render parts of India unlivable within 20-25 years.

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INDIA MUTUAL FUNDS | Sat, 21 Dec 2024, 3:43PM IST The top 10 performers came from sectoral/thematic, ELSS, flexicap, smallcap, and large & midcap categories.

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INDIA MARKET | Sat, 21 Dec 2024, 3:35PM IST Can Fin Homes informed that Apurav Agarwal has resigned from the post of chief financial officer (CFO) and key managerial personnel (KMP) of the company due to personal reasons.

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GLOBAL NEWS | Sat, 21 Dec 2024, 3:32PM IST Costs have soared again amid a bird flu outbreak, bringing renewed attention to the fact that while inflation is cooling, prices are still elevated.

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GLOBAL NEWS | Sat, 21 Dec 2024, 3:31PM IST Spending money to avoid conflict or gain social acceptance can ruin your finances. Some self-reflection and support from professionals can help turn things around.

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GLOBAL NEWS | Sat, 21 Dec 2024, 3:31PM IST Undocumented workers help feed Americas hunger for prepared foods, but some take jobs with staffing agencies that expose them to hazardous conditions.

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GLOBAL NEWS | Sat, 21 Dec 2024, 3:30PM IST Anh Sung-jae went to America as a 13-year-old, joined the Army, went to culinary school and opened a top restaurant in San Francisco. Now back home in South Korea, hes a Netflix star.

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INDIA MARKET | Sat, 21 Dec 2024, 3:28PM IST Over the five trading sessions leading up to December 20, the Sensex dropped by approximately 5%, losing 4,092 points to close at 78,042, marking declines across all sessions.

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INDIA MARKET | Sat, 21 Dec 2024, 3:28PM IST Over the five trading sessions leading up to December 20, the Sensex dropped by approximately 5%, losing 4,092 points to close at 78,042, marking declines across all sessions.

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INDIA MARKET | Sat, 21 Dec 2024, 3:20PM IST Aurobindo Pharma announced that its subsidiary, CuraTeQ Biologics s.r.o., has received marketing authorization from the UK's Medicines and Healthcare Products Regulatory Agency (MHRA) for Bevqolva, its bevacizumab biosimilar.

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INDIA MARKET | Sat, 21 Dec 2024, 3:03PM IST Reliance Industries' wholly owned subsidiary, Reliance Digital Health (RDHL) entered into definitive agreements to acquire 45% equity stake on a fully diluted basis in Health Alliance Group Inc. (HAGI) for an aggregate consideration of $10 million.

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INDIA MARKET | Sat, 21 Dec 2024, 2:52PM IST An analysis by ETMarkets of BSE-listed stocks with a market cap above Rs 500 crore reveals that five stocks have shown consistent growth in price, trading volume, and delivery volume over the past three sessions (December 18-20), signalling increased investor interest.

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INDIA MARKET | Sat, 21 Dec 2024, 2:43PM IST The Sensex rebalancing by Asia Index Pvt Ltd ensures it reflects Indias evolving market trends. Nuvama projects notable fund flows as institutional portfolios adjust to the changes. Zomato could see $513 million in inflows, highlighting strong investor interest, while JSW Steel's exit may lead to $252 million in outflows.

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INDIA NEWS | Sat, 21 Dec 2024, 2:38PM IST An arrest warrant has been issued against former India cricketer Robin Uthappa in connection with alleged fraud related to Employees' Provident Fund (EPF) deposits, officials said on Saturday. The warrant of arrest issued by Shadakshara Gopala Reddy, Regional Provident Fund Commissioner - II and Recovery Officer, K R Puram stated that Rs 23,36,602 is to be recovered from Uthappa, the defaulter. The former cricketer is the director of Centauries Lifestyle Brands Pvt Ltd, Indiranagar. In his order to the Station House Office of Pulakeshinagar Police Station, the senior officer stated, "Due to non remittances of dues, this office is unable to settle the Provident Fund accounts of the poor workers. In view of the above, you are kindly requested to execute the enclosed warrant of arrest through the Thana in-charge under whose jurisdiction Sri Robin Uthappa resides. "In this connection it is kindly requested to arrest the employer under Rule 73 of IInd Schedule to Income Tax Act 1961 and Income Tax (CP) Rule 1962 and Section 8B of Employees' Provident Funds and Miscellaneous Provisions Act, 1952, and produce him before the undersigned on or before 27.12.2024 for further proceedings through your official." The order stated, "In exercise of the power conferred on me under section 8B of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952,...command you to arrest the said defaulter and bring him before the undersigned as soon as practicable and in any event within 24 hours of his arrest (exclusive of the time required for the journey) unless the defaulter pays the said amount of Rs 23,36,602 and Rs 5,000 for the cost of executing this process." However, a senior police officer said, "The address mentioned in the arrest warrant issued by the Regional Provident Fund Commissioner is an old one and the concerned person does not stay at this address anymore. Our team had gone to the given address and verified. As per information, he vacated the mentioned address over a year ago. We have informed the same to the concerned officer. Further decision will be taken by the concerned authority which issued the arrest warrant."

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INDIA BUSINESS | Sat, 21 Dec 2024, 2:38PM IST Shared on Instagram by user Ankit Kumar, the footage shows passengers standing, eating, and chatting in the aisles, blatantly disregarding repeated requests from the Thai Air Asia cabin crew to remain seated.

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INDIA MARKET | Sat, 21 Dec 2024, 2:36PM IST After the Federal Reserve's monetary policy announcement on Wednesday, global indices sharply declined. Despite the Fed's decision to lower interest rates by a quarter point, as anticipated, the projection of fewer rate cuts next year than previously estimated dampened investor sentiment. Nifty's benchmark index has tumbled nearly 5%, marking its steepest weekly fall since June 2022. This decline has wiped out the gains of the past four weeks.

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INDIA NEWS | Sat, 21 Dec 2024, 2:34PM IST Party City, which has been struggling since the COVID-19 pandemic, filed for Chapter 11 bankruptcy protection in the United States on Saturday for the second time in two years as it plans to wind down its retail and wholesale operations. The retailer, which has been in business for over 40 years and sells party supplies from themed decorations to Christmas costumes, said that all of its 700 stores in the country would remain open as it commences a going-out-of-business sale. The company along with certain of its subsidiaries filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. In a filing with the court, Party City Holdco listed both assets and liabilities in the range of $1 billion to $10 billion and estimated to have more than 10,000 creditors. Party City Holdco's senior lenders would provide the retailer with financial support necessary to fund operations through the wind-down process, the Woodcliff Lake, New Jersey-based company said in a statement. Troubled retailers often seek bankruptcy protection during the holiday season to take advantage of any cash infusion provided by recent sales. Party City, which operates both brick-and-mortar stores and an e-commerce website, said it would retain most of its 12,000 employees during the sale period to assist with the wind-down process. The company first filed for Chapter 11 bankruptcy protection in the U.S. in January last year. Later that year it reached a plan to exit bankruptcy, which saw a cancellation of about $1 billion in company debt. The company has suffered since the pandemic due to lockdowns and store closures, along with inventory shortages and tight helium supplies due to global supply chain disruptions. Amscan, a designer, manufacturer, and distributor of celebration products that is operated by Party City Holdco, also filed for bankruptcy on Saturday. (Reporting by Mrinmay Dey in Bengaluru Editing by Frances Kerry)

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INDIA BUSINESS | Sat, 21 Dec 2024, 2:26PM IST Provisional government data for the first eight months of the fiscal year ending in March 2025 showed that Indias finished steel imports from China reached a record high, raising concerns among domestic mills about the impact of inexpensive shipments from China.

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INDIA BUSINESS | Sat, 21 Dec 2024, 2:24PM IST The GoM on GST rate rationalisation on Saturday deferred submission of its report, which suggested rate rationalisation in 148 items, to the GST Council, the panel's convenor and Bihar Deputy Chief Minister Samrat Chaudhary said. "Will submit the Group of Ministers (GoM) report on rate rationalisation in next meeting of the Council," Chaudhary told reporters here. The GoM had earlier this month arrived at a broad consensus to rejig tax rates on about 148 items, including levying a higher 35 per cent tax on sin goods, like aerated beverages and tobacco products, as compared to 28 per cent at present. It was widely expected that the GoM would submit its report to the GST Council meeting on Saturday. Currently, GST is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. Luxury and demerit goods are taxed at highest bracket of 28 per cent, while packed food and essential items are at the lowest 5 per cent slab. The GoM had also decided to propose rationalising tax rates

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INDIA NEWS | Sat, 21 Dec 2024, 2:20PM IST In a significant move during its 55th meeting in Jaisalmer, the GST Council clarified that transactions involving vouchers will be treated as neither a supply of goods nor services and, consequently, will not face taxation under the Goods and Services Tax (GST) framework, sources have told ET Bureau. This decision is expected to bring much-needed clarity and resolve longstanding disputes surrounding the taxation of gift vouchers.The decision follows requests from the retail sector for clarity after the Karnataka Authority for Advance Rulings previously ruled that vouchers were taxable as goods in the case of Premier Sales Corp. The new ruling provides relief to companies and retail businesses that frequently use vouchers for promotions.The councils clarification stems from recommendations by its law panel, which stated that vouchersdefined as prepaid instruments under the Reserve Bank of India (RBI)are used as consideration to settle obligations and should not be taxed, as told by officials to ET Bureau.Also Read: GST Council ups tax on sale of used cars; says rate on popcorn depends on flavourIf vouchers are not treated as consideration, they would fall under the category of "actionable claims," which are also not taxable. The clarification that transactions in vouchers are not liable to GST will put to rest all disputes regarding the nature of vouchers and confirm that vouchers are mere instruments and not supplies in themselves, Bipin Sapra, Partner at EY, had said.The GST Council also deliberated on other key issues, including tax cuts on insurance products, increasing the GST rate on used electric vehicles, and rationalizing taxes on luxury goods like watches, pens, and shoes. However, there were wide divergences among states, and some proposals were deferred for further discussion.

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INDIA BUSINESS | Sat, 21 Dec 2024, 2:02PM IST After receiving the payment in coins, the presiding judge directed the man to replace the amount with currency notes, citing the impracticality of handling such a large sum in coins.

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INDIA BUSINESS | Sat, 21 Dec 2024, 2:00PM IST Kolkata's airport, celebrating 100 years of operation, has hosted royalty, dignitaries, and iconic aircraft like the Concorde and Beluga XL. From a strategic stopover to a global hub, the airport has witnessed historic moments, including visits from Queen Elizabeth II and Fidel Castro, alongside unfortunate accidents. The centenary celebrations will showcase its rich legacy through exhibitions and events.

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