The Economic Times
The Economic Times India's services sector saw strong growth in November, PMI shows
India's services sector maintained robust growth in November. There was a significant rise in prices, the highest in over a decade. Despite this, strong demand led to increased business sentiment and record hiring. New orders from both domestic and international markets supported the growth. Companies passed cost increases to clients, causing a notable rise in prices.
The Economic Times Family businesses indispensable for India to become USD 5 trillion economy: Jitendra Singh
Union Minister Jitendra Singh highlights family businesses' pivotal role in achieving India's vision of a USD 5 trillion economy by 2047. Contributing over 70 percent to the GDP, their share is expected to rise to 80-85 percent. Government initiatives and resilience during crises underscore their importance.
The Economic Times Allen Institute held talks to acquire Unacademy valuing edtech firm at $800 million in a cut-price deal: sources
The Bengaluru-based Unacademy, valued at $3.4 billion in 2021, will likely be merged with Allen; founders expected to exit. The edtech company has around $160 million of cash in the bank but revenues have been flat after the highs of Covid-19 even as its pivoted to an offline model.
The Economic Times Listed parents to flex arms on IPO Street in 2025
Subsidiary public issues enable independent capital raising, benchmark readiness and cash generation for parents via offers for sale, aiding deleveraging, capital expenditure or dividend payouts. Investors gain access to focused, growth-driven, pure-play businesses, according to bankers.
The Economic Times Concert boom to boost economy: Report
Concerts in India are expected to boost spending and private final consumption expenditure. Key sectors like hospitality, transportation, and retail businesses will see significant growth. Tax collections will rise due to GST on tickets, hotels, and restaurants. Spending on concerts has surged, highest on tickets at ₹771 crore, followed by sponsorship, transport, hotels, and food & beverage.
The Economic Times Lok Sabha passes Banking Laws Amendment Bill
Noting that all public sector banks are turning profitable, Finance Minister Nirmala Sitharaman said on Tuesday that banks are being professionally run under the Modi government and the total branches of all scheduled commercial banks have increased by 3,792 in a year to reach 1,65,501 in September 2024.
The Economic Times Sebi has adequate mechanisms to address conflicts of interest: MoS for finance
The government said SEBI has adequate mechanisms to address conflicts of interest. The SEBI board has a code of conduct to ensure ethical behavior and prevent conflicts of interest.
The Economic Times Over 1.5 lakh startups recognised by government till October
Under the Startup India initiative, the Government is implementing three flagship Schemes to support startups at various stages of their business cycle.
The Economic Times Startups, ecomm firms rush to hire engineering graduates
Zomato, Flipkart, Ola, Meesho, Gameskraft, HiLabs, Roombr, Myntra, PhonePe, Quicksell, Indus Insights, Groww, WinZo, Cars24, Battery Smart and NoBroker are among these companies visiting campuses such as the National Institutes of Technology, Birla Institute of Technology & Science Pilani, Indian Institutes of Information Technology (IIITs) and Indian Institutes of Technology. The domains they are recruiting for include software development, data science, product analytics, artificial intelligence and machine learning.
The Economic Times Imposition of additional duty on steel imports to hit exports by MSMEs: Exporters
The Federation of Indian Export Organisations emphasizes the risk to value-added steel product exports. Delays in customs clearance are also disrupting production and harming India's global reputation.
The Economic Times Reports on GST rate changes for goods and services are speculative: CBIC
The CBIC clarified on the social media platform 'X' that the Group of Ministers on GST rate rationalisation has not yet submitted its recommendations, following media reports suggesting a proposed tax hike on sin goods.
The Economic Times HC: Tax officer’s arrest in 175cr GST scam illegal
The court cited procedural violations that rendered his detention null and void.
The Economic Times Will GST Council cut tax on essential goods and raise on luxury goods at its 55th meeting?
The Group of Ministers has recommended a reduction in GST for essential goods, including pre-packaged drinking water and exercise notebooks, while proposing increased rates for luxury items such as shoes priced above Rs 15,000 and wristwatches over Rs 25,000, even as tax of insurance premiums stays on agenda.
The Economic Times Hyundai Motor Group ties up with IITs to advance battery, electrification research
Hyundai Motor Group has partnered with IIT Delhi, IIT Bombay, and IIT Madras to research batteries and electrification. They will invest USD 7 million over five years from 2025 to 2029. A Hyundai Center of Excellence will be set up in IIT Delhi to drive advancements for the Indian market.
The Economic Times BlackRock to buy HPS Investment for $12 bn in major private credit push
BlackRock plans to acquire HPS Investment Partners for about $12 billion in an all-stock deal to expand its presence in the burgeoning private credit market. The acquisition is set to close in mid-2025 and aligns with BlackRock's strategy to grow within alternatives, leveraging HPS's substantial $148 billion assets under management.