Author: NNI Editor

Representational file image. | Photo Credit: V. Raju India can target $ 25 billion exports in the next 10 years and generate 35 lakh jobs with 10% market share in power tools and 25% market share in hand tools, according to NITI Aayog’s report on “Unlocking $25+ Billion Exports: India’s Hand & Power Tools Sector,” which was released here on Tuesday. The report noted that there is a transformative potential of hand and power tools industry for the country’s economic growth. The report also outlines a strategic path for the sector to enhance its global competitiveness and capture a larger…

ICICI Prudential Life Insurance reported a 39.6% year-on-year (YoY) jump in net profit to ₹1,189 crore for financial year ended March 31, 2025. The value of new business (VNB), which represents the present value of future profits, stood at ₹2,370 crore with a VNB margin of 22.8% in FY25. The board approved a final dividend of ₹0.85 per equity share for FY2025.The total annualised premium equivalent (APE) grew 15% YoY to ₹10,407 crore in FY25. Retail protection business APE grew 25.1% YoY to ₹598 crore. Annuity business grew at a two-year CAGR of 31.4% in FY25.The company said its retail…

Mike DolanAs European money appears to be heading home from wobbling American assets, it’s underwriting the region’s entire fiscal expansion at no extra cost.While that seems too neat to be true, the behaviour of European government bonds and the euro over the past month suggests the bloc may well be assuming some of the “exorbitant privilege” the United States has enjoyed for decades as a perceived safe haven and owner of the sole reserve currency. Thanks to Donald Trump’s global trade war and broken Transatlantic alliances, a gigantic European continent of surplus savings may just be minded to fund itself…

Stock markets rose Tuesday as auto firms were boosted by US President Donald Trump’s suggestion of flexibility over steep tariffs on the sector. Some stability has returned to markets after last week’s rollercoaster ride over Trump’s stop-start tariff announcements, but uncertainty remains over speculation of new levies on high-end technology and pharmaceuticals.European indices were higher, tracking gains in Asia, with London up 0.8 percent and Frankfurt climbing around one percent around midday.Paris made more modest gains, weighed by shares in luxury conglomerate LVMH falling more than seven percent after it reported a decline in sales. The auto sector rallied following…

IndusInd Bank on Tuesday said that accounting lapses in the derivative portfolio will have a negative impact of ₹1,979 crore on the bank’s net worth.The bank has assessed an adverse impact (on a post-tax basis) of 2.27% to its net worth as of December 2024 on account of discrepancies relating to derivative deals.The private sector lender last month reported the accounting lapses in the derivative portfolio estimated to have an adverse impact of approximately 2.35% of the bank’s net worth as of December 2024.Following this, the bank appointed external agency PwC to assess the impact on the bank’s balance sheet,…

Candice Li says that after Washington raised tariffs on Chinese goods by 145%, U.S. orders for the medical devices her firm is making have vanished.”It’s a matter of life and death because 60-70% of our business is with American clients,” said Li, marketing manager of Conmo Electronic Co. “Goods cannot be exported and money cannot be collected. This is very severe.”Li was at her firm’s booth at the Canton Fair, China’s biggest trade expo held twice-a-year in the southern city of Guangzhou, where more than 30,000 exhibitors showcase their products over an area larger than 200 football fields.This was the…

Nino Romano | Photo Credit: Special Arrangement Continental Automotive, which offers technologies and services for connected and autonomous mobility and automotive security to original equipment manufacturers across the globe including in India, on Tuesday said it would get its new name and brand identity on April 23, following its spin-off from Continental AG of Germany.The company said, following the spin-off of the automotive business from Continental, the name of the future independent automotive company would be announced on April 23 at Auto Shanghai 2025, where it would also showcase its latest technologies that support autonomous driving and light projection and security…

Sajjan Jindal | Photo Credit: Special Arrangement JSW Steel Ltd. is planning to invest ₹50,000-₹60,000 crore in putting up a 10 million tonne per annum green steel plant at Salav in Maharashtra, JSW Group Chairman Sajjan Jindal said on Tuesday. The brownfield plant will cater to Europe which is in the process of imposing Carbon Border Adjustment Mechanism. Mr. Jindal, while speaking at the centenary function of Indian Chamber of Commerce (ICCO), said the investment in the green plant would be made over 3-4 years and cater to the European Union markets.Initially, the plant will run on natural gas and switch over to…

The Securities and Exchange Board of India (SEBI) is reviewing the mutual fund regulations that place restrictions on the business activities of asset management companies (AMC), said executive director Manoj Kumar.“We are doing a significant review of regulation 24. This is the only restrictive clause under the mutual fund regulation,” Mr. Kumar said at the CII Mutual Fund Summit here on Tuesday.Clause 24 of the mutual fund regulation deals with the issues pertaining to business activities that AMCs can take. The regulation mandates AMCs not to undertake business activities that are in conflict of interest with the core business of…

A steep drop in crude oil prices largely due to U.S. President Donald Trump’s tariffs will squeeze budgets of emerging market oil exporters, analysts said, while the potential economic slowdown could also curb any benefits for importers.Concerns about the impact of a tit-for-tat trade war on global growth and demand for oil sent Brent crude prices plummeting by more than 20% within a week to a four-year low after Trump announced his sweeping tariffs on April 2.Prices have since recovered some ground to around $66 per barrel from below $60.Turkey, India, Pakistan, Morocco and much of emerging Europe relying on…