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The Economic Times
The Economic Times Mercedes-Benz India appoints Emrah Ozer as CFO
Ozer will replace Evren Cakabey, who has taken on the role of Executive Director and CFO at Mercedes-Benz G GmbH in Austria, also effective January 1, 2025, the company stated.
The Economic Times Google to bring Gemini AI to TV sets running its software
The firm’s Google TV platform competes with other major television operating systems, including those from Samsung Electronics Co., Amazon.com Inc. and Roku Inc.
The Economic Times Specialty steel gets new PLI
The Indian government has launched the PLI 1.1 scheme for specialty steel, making it more investor-friendly by lowering investment thresholds and easing compliance requirements. This aims to reduce dependence on imports. The scheme focuses on critical sectors such as infrastructure, renewable energy, and automobiles. Applications opened on Monday and will close at the end of January.
The Economic Times Adani Group partners with Indorama for petchem foray
Adani Enterprises Ltd, "has completed the incorporation process of a joint venture company namely Valor Petrochemicals Ltd (VPL)... with Indorama Resources Ltd, Thailand," AEL said in the filing. The company further added, "VPL is incorporated with the object to set Refinery, Petrochemical and Chemical business."
The Economic Times Industrial & warehousing dominate with $ 2.5 billion in realty investments for 2024
In 2024, institutional investments in Indian real estate reached $6.5 billion, marking a 22% increase from 2023. The industrial and warehousing segment led with $2.5 billion, followed by the office segment at $2.3 billion. Domestic investments notably rose, accounting for 43% of Q4 inflows, reflecting growing investor confidence.
The Economic Times Sachin Bansal in talks to sell $100 million investment in Ola at a premium
Sachin Bansal is negotiating with investors to sell his $100 million stake in Ola, valuing the company at around $4 billion. Bansal aims to liquidate his holdings in Ola to focus on his fintech venture, Navi. Navi has faced some regulatory hurdles while seeking external capital.
The Economic Times Budget 2025: States may get special aid despite capex slip
India Budget: The Centre is set to disburse the next installment of special assistance to states despite unmet capital expenditure targets. The allocation has increased to ₹1.5 lakh crore, with ₹95,000 crore tied to conditions. Due to election-related impacts, states have sought relaxation in conditions to boost spending. Approved projects now total ₹88,000 crore.
The Economic Times Big 4 in India outshine MNC parents; combined revenue seen at over Rs 45,000 crore in FY25
The Indian arms of Deloitte, PwC, EY, and KPMG showed strong revenue growth in FY24, driven by consulting and tech services, with combined revenue reaching nearly Rs 38,800 crore, and are expected to surpass Rs 45,000 crore by FY25. This growth has been fueled by high demand from mid-market clients and government services, despite slower growth due to economic uncertainties.
The Economic Times Trade Unions demand super-rich tax, hike in corporate tax and raising income tax exemption limit to Rs 10 lakh
In their customary pre-budget meeting with Union Finance Minister Nirmala Sitharaman, trade union leaders suggested a super-rich tax and an increase in corporate tax to fund social security for informal workers.
The Economic Times New year, renewed push: India Inc unites for more diversity
Corporate India is boosting DEI efforts in 2024. Companies like Axis Bank, Deutsche Bank, RPG Group, SAP India, Mphasis, and UpGrad are focusing on women, PwDs, LGBTQIA+, veterans, and neurodiverse individuals. Strategies include flexible work arrangements, diversity hiring, and career development programs. The aim is to drive innovation, growth and competitive advantage while enhancing workforce diversity.
The Economic Times YES Bank CFO eyes 1% return on assets with strategic focus on MSMEs and digital growth
YES Bank CFO Niranjan Banodkar highlighted the bank's key priorities for the coming years, focusing on profitability, cost discipline, and digital transformation. He also emphasized growth in MSMEs and mid-corporates, alongside a commitment to maintaining robust asset quality.
The Economic Times Career Point Edutech appoints Mahesh Bhangriya as CFO
Career Point Ltd. is restructuring into two entities through a merger and demerger, with Mahesh Bhangriya appointed CFO of Career Point Edutech Ltd., overseeing its expanded education-focused operations.
The Economic Times IIFCL plans to raise about Rs 8,000 cr from borrowing during Jan-Mar quarter
IIFCL plans to raise Rs 8,000 crore from borrowing, including from overseas institutions, during January-March. They aim to fund business growth of 20 percent. IIFCL has finalised blended finance with Asian Development Bank and Korean Exim Bank. Discussions with ADB, World Bank, and JICA for further funds are ongoing. The balance sheet size is approximately Rs 80,000 crore.
The Economic Times RBI adds 8 tons gold to its reserves in Nov 2024: WGC
In November 2024, central banks globally added 53 tonnes of gold to their reserves. The Reserve Bank of India added 8 tonnes, increasing its total gold holdings to 876 tonnes. The National Bank of Poland was the largest buyer, adding 21 tonnes. Other significant buyers included Uzbekistan, Kazakhstan, China, Jordan, Turkey, the Czech Republic, and Ghana.
The Economic Times Demand for 200,000 skilled workers by 2030 in the EV industry
India's energy transition is driven by the goal of achieving net zero emissions by 2070, with electric vehicles (EVs) playing a crucial role. Key government initiatives and substantial funding aim to enhance EV adoption and infrastructure. However, addressing the significant skills gap in the workforce through structured training and apprenticeships is essential for sustaining this green revolution.
