The Economic Times The Economic Times

The Economic Times Blackstone to invest $2 bn every year in India; wants quicker M&A clearances

Blackstone Group plans to invest USD 2 billion annually in India, aiming to improve the ease of doing business for firms like it. The New York-based group has been operational in India for nearly two decades and has invested a total of USD 50 billion in the country. The value of its assets, after accounting for exits, stands at USD 30 billion. Over the next five years, the value of assets is expected to rise by USD 25 billion, including USD 17 billion in fresh bets and up to USD 7.5 billion value creation across portfolio companies.

The Economic Times SBI, Standard Chartered do a CDS trade under new RBI norms

"This landmark transaction marks a pivotal moment in credit risk management and underscores the growing sophistication of financial instruments in the Indian market," said Parul Mittal Sinha, Head - Financial Markets, India, Standard Chartered Bank.

The Economic Times Indirect tax collection for FY24 exceeds RE by handsome margin: CBIC chief

FY24 indirect tax collection exceeded Revised Estimates with record GST collection. CBIC chairman praised tax officials for professionalism, highlighting excise duty, customs, and revised direct tax target.

The Economic Times US Fed official now sees just one rate cut at end of 2024

Atlanta Fed President Raphael Bostic suggested that the US economy's current strength warrants only one interest rate cut this year, likely in the final quarter. This contrasts with the three cuts predicted by Fed officials in March. Bostic cited inflation's unpredictable trajectory and the economy's resilience as reasons for his revised outlook.

The Economic Times India Inc may see average pay hike of 9% in 2024: AmbitionBox survey

AmbitionBox's survey reveals Indian employers' 9% pay increment expectation in 2024. Despite economic concerns, employees show optimism, with some expecting significant hikes. The study emphasizes the importance of managing expectations and offering holistic benefits beyond salaries.

The Economic Times Forbes Richest List 2024: Here are the top 10 richest persons in India

Forbes' latest '2024 Billionaires List' sees Mukesh Ambani topping as Asia and India's richest individual, with a wealth surge to $116 billion. The roster includes 200 Indian billionaires, up from 169 last year, amassing a combined $954 billion, a 41 percent increase. Gautam Adani follows Ambani, with a net worth of $84 billion. Savitri Jindal remains India's wealthiest woman, with $33.5 billion.

The Economic Times Meet India's richest women: Savitri Jindal tops Forbes' list with $35.5 billion net worth

Savitri Jindal's rise to being one of India's richest women reflects a broader trend of women's empowerment in the country's business landscape. As the matriarch of the Jindal Group, she took over the conglomerate after her husband's passing and led it to remarkable success. Alongside her, other women like Rekha Jhunjhunwala, Vinod Rai Gupta, Renuka Jagtiani, and Smita Crishna-Godrej are making significant strides in business, reshaping the narrative of success in India. Jindal's philanthropy and political career further highlight her multifaceted impact.

The Economic Times Byju Raveendran's net worth plummets to zero, as per Forbes Billionaire Index 2024; Here're others who fell off the list

Forbes' Billionaire Index 2024 highlights a drastic decline in Byju Raveendran's net worth, plummeting from ₹17,545 crore ($2.1 billion) to zero. This sharp downfall follows crises within his startup, Byju's, once valued at $22 billion. The company's financial woes, including a staggering net loss exceeding $1 billion, led to a significant devaluation, with BlackRock marking its worth at just $1 billion. Shareholders recently voted to remove Raveendran as CEO amidst ongoing challenges.

The Economic Times Hunt for Disney CEO Bob Iger's successor kicks into high gear

Disney delays CEO successor decision, focusing on internal and external candidates like Dana Walden, Josh D'Amaro, and Jimmy Pitaro. Past failures in grooming heir apparent highlighted, as company navigates through a critical leadership transition period.

The Economic Times Foxconn’s Bharat FIH looks beyond Xiaomi to offset slump

Confirming the diversification strategy, Bharat FIH said it was leveraging on its success in smartphones to make strides in newer segments such as EVs. The company declined to disclose the Sriperumbudur plant's operating capacity, which it said was a factor of customer demand, planning and prevalent market conditions. However, the company was quick to add that it has "exceptional capability" to expand capacity as per customer needs.

The Economic Times ​​Small cars likely to stage a comeback by 2026 amid rising entry-level incomes, says Maruti Suzuki chairman RC Bhargava

Maruti Suzuki chairman RC Bhargava anticipates a revival of small car sales by 2026, driven by rising income levels among entry-level consumers and the transition of scooter and motorcycle owners to cars. Despite a recent surge in SUV sales and a decline in small car demand, Bhargava believes that the affordability of small cars will become more manageable for buyers as their purchasing power increases.

The Economic Times ET Exclusive: RIL, Tata Motors and IOC to be key bidders for pilot GH2 project

The bid for the Rs 496-crore project which opened in February, closes on Thursday. It is part of the National Green Hydrogen Mission which was launched in January 2023 with an outlay of Rs 19,744 crore. One of the key criteria from the bidders is participation as a consortium or partners to ensure the entire value chain - from making hydrogen and dispensing it and running vehicles fuelled by hydrogen. The bidding consortium should include a vehicle manufacturer, hydrogen fuel supplier distributor, and other partners as required.

The Economic Times HDFC MF announces discontinuation of lumpsum subscription, restrictions on Systematic Transactions in NIFTY Realty Index Fund

HDFC MF announced that fresh lumpsum investments (including additional purchases and switch-ins) will be discontinued. The fresh systematic transactions registrations such as SIPs (including SIP Top up), STPs (into the scheme) etc. shall be registered only under monthly frequency for an amount of up to Rs 1 lakh per investor.

The Economic Times Mahindra Manulife Mutual Fund files draft document for Build India Fund

The investment objective is to generate long-term capital appreciation by investing predominantly in equity and equity-related securities of companies engaged in manufacturing and infrastructure themes.

The Economic Times Chennai lakes contaminated with 'Forever Chemicals' linked to cancer and liver damage

Chennai lakes show alarming PFAS levels 19,400 times higher than EPA safety limits. Contamination extends to Adyar, Buckingham Canal. Urgent intervention needed to address hazardous 'forever chemicals' in water sources.