The Economic Times
The Economic Times CK Birla Healthcare eyes $150 million fundraise via stake sale
CK Birla Healthcare, part of the CK Birla Group, aims to raise around $150 million by selling a minority stake. Funds will be used for expansion and debt reduction. The healthcare arm, featuring multiple hospitals and IVF centers, recorded a 34% revenue growth in FY24.
The Economic Times India to take five years to almost achieve an income feat that earlier took 75 years: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman stated that India's per capita income is projected to increase by $2000 in the next five years. She highlighted the young demographic, which drives consumption growth, and noted the maturity in India's innovation and financial sectors as catalysts for future economic growth.
The Economic Times FIIs withdraw Rs 32,000 crore but India has Rs 2 lakh crore war chest to save Nifty from Israel war
In just 4 trading sessions, Sensex dropped over 3,300 points as FIIs pulled out nearly Rs 32,000 crore from D-Street. China's market appeal and growing fears over the Iran-Israel conflict have spooked global investors. With concerns over high valuations as retail investors remain confident across price points, there is rising uncertainty about a potential market crash during the festive season.
The Economic Times India’s Services PMI falls to 57.7, slowest expansion since November 2023
In September, India's Services PMI fell to 57.7 from 60.9 in August, marking the slowest growth since November 2023 (56.9). Export demand weakened, with growth at its lowest pace in 2024. Input cost inflation rose, while the increase in selling prices slowed to a two-and-a-half-year low. Despite these pressures, domestic demand remained robust, and employment continued to rise.
The Economic Times Outdated SA 600 poses risk of future corporate scandals; urgent reform must says NFRA's R. Narayanaswamy
In an exclusive interview with ETCFO, R. Narayanaswamy, part-time member of NFRA, discusses the legal framework for auditing standards, challenges to NFRA’s authority, the power dynamics between NFRA and ICAI, and the need for accountability in financial reporting.
The Economic Times Office space transactions mark a record in Q3 2024 highest since Q1 2018: Knight Frank
This represents an 18 per cent year-on-year (YoY) increase from 16.1 mn sq ft in Q3 2023. The report highlights a strong year-to-date performance, with 53.7 mn sq ft of leasing recorded in the first nine months of 2024--27 per cent higher than the same period last year.
The Economic Times PwC India ties up with Meta for GenAI solutions
The collaboration aims to drive the widespread use of Generative AI (GenAI) in both enterprise and public services, positioning India as a leader in digital innovation.
The Economic Times India Inc pros seeks more guidance, upskilling opportunities
A LinkedIn report highlights that 90% of Indian professionals are seeking more support in evolving workplaces. The biggest opportunity lies in integrating AI, with 62% believing it's crucial for career growth. Video formats, particularly short-form and long-form video courses, are favored for continuous learning.
The Economic Times India Inc to offer 9.5% salary hike in FY25, projects survey
India is expected to see an average salary increase of 9.5% in 2024-25, slightly up from 9.3% in 2024. The engineering and manufacturing, retail, and financial sectors are leading with projected increases of 10% and 9.9%. The survey analyzed data from 1,176 companies across over 40 industries.
The Economic Times There will be no change in policy on multi-brand retailing: Piyush Goyal in US
Union Minister Piyush Goyal emphasized that India will not permit multi-brand retail, as it would harm local mom-and-pop stores. He underscored India's openness to other economic reforms, allowing full foreign ownership in sectors like defense and space, with some safeguards to prevent money laundering.
The Economic Times Indian economy amid the Israel-Iran war
Iran, as a key OPEC member and a major player in the global oil market, holds substantial sway over oil prices. The deepening Israel-Iran conflict is set to heighten geopolitical tensions, further unsettling economies worldwide, including India.
The Economic Times NFRA circular warns against selective application of audit standards
The circular asks auditors to follow both the Standard on Auditing (SA) 600 and the Companies Act 2013 in letter and spirit, on top of other relevant norms, and act accordingly.
The Economic Times NFRA emphasises statutory auditors' obligations in group audits amid audit failures
NFRA said it has observed gross negligence and audit failure in audits of group financial statements.
The Economic Times AI helping companies make more money, adding up to 20% to profits: report
Generative AI is the prime mover of the current wave of technological change and companies leveraging on AI can make remarkable profits up to 20%.
The Economic Times Iran-Israel conflict may work in favour of Indian diamond exporters, says Vipul Shah, chairman Gem & Jewellery Export Promotion Council
The ongoing Iran-Israel conflict is expected to benefit India's exports of cut and polished diamonds due to a decrease in Israeli shipments. However, rising oil prices may harm the global economy, potentially affecting demand. India's diamond exports were down 20% in the initial months of fiscal 2025.