The Economic Times The Economic Times

The Economic Times BharatPe elevates Nalin Negi as its CEO

BharatPe announced the elevation of Nalin Negi as its CEO. He has been working as its interim CEO and has led the company to drive growth innovation in the fintech sector.

The Economic Times Deal activity on the rise in consumer & retail sector

India's consumer and retail sector experienced a surge in M&A and private equity deal activity in the March quarter. The sector recorded 102 deals valued at $1.74 billion, with a focus on acquisitions and investments in the food processing and healthy food market segments.

The Economic Times RBI likely to leave rates unchanged in FY25, help maintain India's 'Goldilocks' environment: Morgan Stanley

Economists anticipate the Reserve Bank of India (RBI) to maintain its policy rate at 6.5% for the fiscal year 2024-25 due to factors like higher-than-targeted inflation, global influences such as commodity prices, and a stronger dollar. The RBI's decision will also hinge on domestic factors like growth driven by capital expenditure (capex) and productivity.

The Economic Times Brigade Enterprises Appoints Jayant Bhalchandra Manmadkar as CFO

Brigade Enterprises bolsters its leadership team with the appointment of Jayant Bhalchandra Manmadkar as its new Chief Financial Officer (CFO)

The Economic Times Fairfax arm infuses Rs 500 crore into IIFL Finance: Sources

Fairfax's Odyssey Reinsurance offers Rs 500 crore debt to IIFL Finance for gold loans. Prem Watsa's subsidiary provides secured, rated bonds at 9.5% coupon. ET's comment requests to IIFL Finance and Fairfax go unanswered.

The Economic Times Vedanta secures 11-year Rs 3,900 cr loan from PFC

The group plans to increase the operating capacity of its power business in India to 4.8 GW by FY27, sources with knowledge of the matter said. The latest financing follows Vedanta group's takeover of Meenakshi Energy Ltd on December 28 in an NCLT-driven insolvency process.

The Economic Times Will keep diversifying export basket, says Commerce secy Barthwal in view of Iran-Israel conflict

India has diversified its trade to protect against regional conflicts and the ongoing Israel-Iran conflict. Commerce Secretary Sunil Barthwal said the government is monitoring West Asian developments and will consider their impact before implementing policy interventions. The ministry is also focusing on tapping new markets to weather recessionary trends and conflicts.

The Economic Times Jio Financial and Blackrock form JV to set up wealth management and broking business

Jio Financial Services and BlackRock signed an agreement to form a 50:50 joint venture for the purpose of undertaking wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.

The Economic Times Companies need to hire more women at entry level, retain them through their tougher years: Wipro CFO

"The percentage of women (in leadership) in organisations is fewer, but it is representative of the fact that the overall percentage of women in the workforce is low. It is crucial that companies have more women at the entry level and then they are able to nurture and retain them through the tougher years."

The Economic Times Trade deficit narrows to 11-month low of $15.60 billion in March as India cuts overseas purchases

India's merchandise trade deficit decreased to $15.60 billion annually in March, according to government data. The yearly deficit narrowed to $240.2 billion in FY24. Economists, surveyed by Reuters, had estimated March's deficit at $18.55 billion.

The Economic Times Oil and gas sector sees 20%-plus jump in hiring in March

March job market: oil and gas, pharma, senior professionals thrive. Unicorns show hiring interest. AI/ML talent in demand. Niche roles like machine learning engineer see growth despite overall IT hiring decline.

The Economic Times CG Group has plans to list hotel business in next few years

CG Group's CG Hospitality Global and The Fern brand aim for gradual public launch. Expansion strategies include EBITDA growth, strategic investor involvement, IPO launch, The Farm introduction, Taj properties, a Dubai hotel, safari lodge expansion.

The Economic Times SC to examine validity of Rs 33,000 crore I-T claim on Jaypee Infra

The Supreme Court will review the validity of the Income-Tax commissioner's assessment of Jaypee Infratech Ltd (JIL), which raised a claim of ₹33,000 crore. The court has requested the Central Board of Direct Taxes to examine the order and file an affidavit within four weeks. The National Company Law Tribunal (NCLT) approved the resolution plan of Suraksha Realty and Lakshdeep Investments and Finance, allowing them to take over JIL for ₹20,363 crore.

The Economic Times Rupee-rouble settlement volume up seven times from 2022: Sberbank

India’s oil purchases from Russia jumped after the war as New Delhi purchased discounted crude. The share of Russian oil in India’s total imports rose to 35% in 2023-24 from 23% in the previous year, according to energy cargo tracker Vortexa.

The Economic Times Safety net in works to widen local funding pool for startups

Government is crafting a framework to enable pension funds and insurers to invest in startups, aiming to boost domestic capital. Efforts include redefining startup criteria, educating investors, and potentially expanding existing funding schemes.