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The Economic Times Paytm Parent to sell 5.4% stake in Japan company PayPay to SoftBank

Paytm's parent company, One97 Communications, is selling its 5.4% stake in Japanese payment firm PayPay to SoftBank for approximately $280 million. This transaction values PayPay at around $7 billion and adds to Paytm's growing cash reserves, following a recent divestment of its entertainment business.

The Economic Times Aligning Indian auditing with global standards to boost investor confidence, attract more funds: NFRA chief

India's National Financial Reporting Authority (NFRA) chief advocates aligning auditing standards with global norms to boost investor confidence and attract funds. The NFRA is working to update standards, addressing gaps and aligning with international practices, despite some concerns from chartered accountants. This move aims to enhance financial data credibility and support India's growth ambitions.

The Economic Times USD 350 mn ADB loan approved to enhance India logistics and exports

Asian Development Bank (ADB) has approved a USD 350 million policy-based loan to support India strengthen and modernize logistics sector.

The Economic Times Bajaj Electricals reduces tax demand from ₹1.48 cr to ₹6.09 lakh under GST

Bajaj Electricals' original tax demand of ₹1.48 crore for FY17-18 has been reduced to ₹6.09 lakh by an appellate authority under the GST Act. The company plans to utilize the government's amnesty scheme, paying the reduced tax amount while waiving interest and penalties.

The Economic Times Rupee ends higher as cenbank holds rates but logs fifth straight weekly fall

The rupee had declined to its all-time low of 84.7575 earlier in the week, hurt by weakness in the Chinese yuan and strong dollar bids in the non-deliverable forwards market, prompting intervention by the RBI.

The Economic Times AI triggers boom in flexi-work options for technology professionals

Skilled tech professionals, particularly in AI, are increasingly choosing freelance work, commanding high hourly rates on platforms like Upwork and Appen. Indians are prominent, offering competitive rates while demand for AI skills like data annotation and training surges. This shift allows workers flexibility and higher earnings compared to traditional employment.

The Economic Times Recognised startups create over 16.6 lakh direct jobs: Centre

Recognised startups in India have created over 16.6 lakh direct jobs across more than 55 varied industries, the Parliament was informed on Friday.

The Economic Times Young Indian professionals key to fulfilling global workforce requirements: Minister

India's youth are the nation's true wealth, with their talent and skills being recognised and appreciated globally, Union Minister for Labour and Employment, Dr Mansukh Mandaviya, has stressed.

The Economic Times LG Electronics India files IPO papers to raise ₹15,000 crore

LG Electronics India filed for a ₹15,000 crore IPO, potentially India's fifth-largest. The South Korean electronics giant, a market leader in several appliance categories, aims to sell a 15% stake. This marks LG's second IPO in India, following Hyundai Motors. The company plans to invest ₹5,000 crore in a new Andhra Pradesh factory.

The Economic Times Economists bat for new manufacturing policy, pvt investments push

The manufacturing policy should include a strategy on import tariffs, taxation, technology transfer and other related aspects to cover the entire spectrum of potential policy interventions, they are learnt to have told the minister.

The Economic Times Centre's Rs 15K cr PLI scheme for pharma to boost domestic manufacturing

The Union government has approved a financial outlay of Rs 15,000 crore for the Production Linked Incentive (PLI) scheme for pharmaceuticals, aimed at boosting domestic manufacturing.

The Economic Times Ceat to acquire Michelin's Camso brand for USD 225mn

Camso is a Canadian brand that makes tyres for tractors, harvesters, bulldozers and other off-highway vehicles which command higher margins compared to tyres for passenger vehicles and two wheelers. Michelin had in 2018 acquired the brand for nearly USD 1.5 billion.

The Economic Times SBI forecasts India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25

SBI predicts India's FY25 GDP growth at 6.3%, lower than RBI's revised 6.6% projection. This downward revision follows an initial increase, marking a shift from previous years' consistent downgrades. A CRR cut aims to inject liquidity into the banking system, potentially boosting net interest margins.

The Economic Times India set to witness surge in billionaire entrepreneurs over next decade: UBS Report

India will see a surge in billionaire entrepreneurs. This growth will mirror China's growth until 2020. Rapid urbanization and digitalization are key drivers. The number of Indian billionaires has more than doubled in the last ten years. Their collective wealth has nearly tripled. Family businesses have played a crucial role. India has many publicly listed family-owned businesses.

The Economic Times Relentless FII selling now over as Indian economy remains resilient

In a clear change of strategy, the foreign institutional investors (FIIs) have turned buyers, and the stage of relentless FII selling is now over with the Indian economy remaining resilient despite the geo-political conditions, market watchers said on Saturday.

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