The Economic Times The Economic Times

The Economic Times World economy will avert recession and get a boost from technology, says Nouriel Roubini

Global industry leaders suggest that artificial intelligence could significantly uplift the global economy, countering challenges like deglobalisation and geopolitics. They see technology leading to increased productivity and reduced costs. The US election's outcome also holds potential impacts on the global markets and trade flows.

The Economic Times Danske Bank announces retirement of CFO Stephan Engels, Cecile Hillary appointed as Successor

Danske Bank has appointed Cecile Hillary as the new Chief Financial Officer. Hillary, currently serving as Group Treasurer at Lloyds Banking Group in the UK, will join Danske Bank's Executive Leadership Team by March 1, 2025, at the latest.

The Economic Times India’s Manufacturing PMI dips to 57.5 in August, output and sales lowest since Jan

Despite the easing cost pressures, firms continued to pass on additional costs to clients, resulting in the second-fastest rate of charge inflation in nearly 11 years, stated the S&P Global report.

The Economic Times ICAI council to weigh proposed revamp of audit in sync with global standards

The National Financial Reporting Authority (NFRA) has firmed up draft norms to overhaul the extant Standard on Auditing (SA) 600. The revised standard will apply only to listed companies and banks, barring the state-run ones. ET reported on Thursday that the ICAI had raised its concerns over the NFRA draft norm, which proposes to make the principal auditor of a corporate group responsible for the entire group's financial statements.

The Economic Times Tata Consumer Products completes merger of subsidiaries

TCPL's portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals. The company which has a consolidated turnover of Rs 15,206 crore owns key beverage brands including Tata Tea, Tetley, Organic India, Eight O'Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+ and Tata Gluco+.

The Economic Times Electronics parts set to plug into Make-in-India play: Union Electronics and IT minister Ashwini Vaishnaw

The Centre plans to launch a scheme to develop a sustainable electronics component ecosystem. The initiative aims to expand component manufacturing in the same way as mobile and electronics manufacturing has grown. The scheme could see up to Rs 40,000 crore allocated, with an expected investment of Rs 82,000 crore from successful applicants.

The Economic Times Labour ministry working on comprehensive policy to provide social security cover to gig workers: Mandaviya

Labour and employment minister Mansukh Mandaviya chaired a review meeting with top officials of the ministry on Sunday to take stock on the progress towards the government’s vision of a universal social security for all as outlined in the Social Security Code. The ministry will set up an online window to help aggregators, companies that employ gig and platform workers, to take the lead in registering their workers on this eShram portal so that existing benefits can be made available to such workers.

The Economic Times Crypto’s legal tangles seem as mystifying as digital asset itself

Traders betting on crypto platform WazirX have learnt that they are “unsecured creditors” of a Singapore company named Zettai (the Japanese word for ‘no matter what’). Zettai is the parent of the Indian company Zenmai (also a Japanese word, meaning ‘mainspring’) which operates WazirX. What does this tangle mean?

The Economic Times A lift-off decade for India: How Modi plans to make country a global manufacturing powerhouse

This growth has also changed lives for the better, a factor that is equally crucial. “The key to Bharat’s future lies in this transformation,” the PM said. “Over the past decade, 25 crore people have been lifted out of poverty. Not only have these individuals emerged from poverty, but they have also formed a neo-middle class. The speed and scale of this transformation are unprecedented in any democratic society worldwide.”

The Economic Times HCLTech, Wipro see discretionary spends uptick in BFSI sector

In a pleasant surprise for the industry, two of the top four Indian IT companies, HCLTech and Wipro, are ramping up discretionary spends in the banking, financial services, and insurance (BFSI) segment. Experts, anticipating a rate cut in September, are hoping the revival of discretionary spending will be widespread in the next two quarters.

The Economic Times Focus is on ramping up physical, digital and social infrastructure, says Ashwini Vaishnaw

India's growth is driven by investments in physical, digital, and social infrastructure, said Ashwini Vaishnaw, union minister for electronics and information technology, information and broadcasting, and railways. He further added that the government focuses on manufacturing through incentives like the PLI schemes, which increased job creation and production value. Efforts include mobile manufacturing, a new semiconductor ecosystem, and a digital credit platform, aiming to democratize technology, he added.

The Economic Times Large offshore investment write-offs trigger RBI alert

The Reserve Bank of India is scrutinizing large write-offs of overseas investments by several companies, suspecting these might not be genuine business decisions. Concerns arise as some firms may have used the 'overseas direct investment' route to transfer funds abroad, bypassing regulations. The RBI is ensuring compliance with mandatory audit reports and valuation confirmations to validate the legitimacy of these investments. New overseas investment rules from August 2022 allow automatic write-offs, but recent cases under review are from prior to 2022. The RBI's vigilance aims to uncover potentially fraudulent fund movements.

The Economic Times Dabur, Jubilant owners bid for stake in Coca-Cola's India bottling arm HCCB

Parent Coca-Cola Co will decide if the deal will involve one or two co-investors, or if negotiations lead to creation of an investor consortium. A decision is likely by the end of this fiscal year. ET was first to report on June 18 that Coca-Cola had sounded out a group of Indian business houses and family offices of billionaire promoters to buy into HCCB, an arm it eventually wants to take public to cash in on the bullish domestic capital markets.

The Economic Times Large offshore investment write-offs trigger RBI alert

The Reserve Bank of India is scrutinizing large write-offs of overseas investments by several companies, suspecting these might not be genuine business decisions. Concerns arise as some firms may have used the 'overseas direct investment' route to transfer funds abroad, bypassing regulations. The RBI is ensuring compliance with mandatory audit reports and valuation confirmations to validate the legitimacy of these investments. New overseas investment rules from August 2022 allow automatic write-offs, but recent cases under review are from prior to 2022. The RBI's vigilance aims to uncover potentially fraudulent fund movements.

The Economic Times SME IPOs see manic rise in retail interest

What was seemingly a very shallow and restricted market of less than 500 interested parties for each share sale on average four years ago now draws applications that run into six figures. Statistics show from just 408 applicants on average in FY20 and 511 in FY21, these SME IPOs drew a staggering 2,19,000 applications so far in FY25.

AD
AD