Author: NNI Editor
The rupee had risen sharply by 58 paise in the preceding session on April 11, 2025. File | Photo Credit: Reuters The rupee stayed firm and appreciated 26 paise to 85.54 against the U.S. dollar in early trade on Wednesday (April 16, 2025) on the back of a massive inflow of foreign capital, a weak American currency and lower crude oil prices. Forex traders said the positive macroeconomic numbers that came on the heels of the 90-day reprieve from U.S. reciprocal tariffs fuelled buying in domestic equities by foreign investors, adding strength to the local currency. At the interbank foreign exchange, the…
A view shows a PwC Australia logo in Melbourne, Australia, March 24, 2025. File | Photo Credit: Reuters PricewaterhouseCoopers (PwC) has shut down operations in more than a dozen countries that are deemed too small, risky or unprofitable, as the Big Four accounting firm aims to prevent repeats of scandals that have affected it, the Financial Times reported on Wednesday (April 16, 2025).Also read | PwC suggests IDEA framework for Indian companies to navigate U.S. tariff uncertaintiesThe decision was taken due to mounting differences with local partners, the FT said, citing people familiar with the matter.Local leaders at the firm…
A man walks past the Bombay Stock Exchange (BSE) building, in Mumbai, on April 8, 2025. File | Photo Credit: PTI Equity benchmark indices were trading flat in early trade on Wednesday (April 16, 2025) amid sluggish global market trends due to rising U.S.-China trade tensions.After two days of sharp rally, the 30-share BSE benchmark Sensex declined 165.3 points to 76,569.59 in early trade. The NSE Nifty dipped 51.55 points to 23,277.From the Sensex firms, Maruti, Sun Pharma, NTPC, Tata Steel, Reliance and Infosys were the biggest laggards.IndusInd Bank, Axis Bank, State Bank of India and Kotak Mahindra Bank were…
File photo used for representational purpose only. | Photo Credit: The Hindu An active pharmaceutical ingredients manufacturing facility of Laurus Labs in Visakhapatnam that received an observation post an inspection by United States Food and Drug Administration earlier this year has been issued establishment inspection report by the regulator. The company has received the EIR, the drugmaker said in a filing on Tuesday (April 16, 2025). The U.S. FDA had inspected the API manufacturing facility Unit–4 in Atchutapuram, Anakapalli district from January 27-31 and issued a Form 483 with one observation. Published – April 16, 2025 10:18 am IST Source…
MLA and BEMUL Chairman Balachandra Jarkiholi speaking to reporters in Belagavi on April 15, 2025. | Photo Credit: P.K. BADIGER “Belagavi District Cooperative Milk Producers’ Union (BEMUL) has achieved a profit of ₹13.20 crore in the last year. This is unprecedented since the establishment of the union in 1985,” Balachandra Jarkiholi , Chairman of BEMUL, said in Belagavi on April 15. “We have done so well that it has surpassed our expectations. It has been achieved only through prudent fiscal management and avoiding unnecessary expenditure,” the MLA told reporters. “The previous year, we clocked a modest profit of ₹68 lakh.…
The Karnataka Cabinet, on April 11, cleared the much-awaited Karnataka Platform-based Gig Workers (Social Security and Welfare) Bill, 2024, which is now expected to be introduced as an Ordinance. If passed, this would make Karnataka the second State in the country to introduce legislation for the welfare of platform-based gig workers after Rajasthan.Why legislation?Reports suggest that there are around 2 lakh platform-based gig workers in Bengaluru working with companies such as Swiggy, Zomato, Uber, Ola, Urban Company, Porter, Amazon, Flipkart and so on. An evolving and nascent sector, the gig economy is expected to create 23.5 million jobs in India by…
The Karnataka Cabinet, on April 11, cleared the much-awaited Karnataka Platform-based Gig Workers (Social Security and Welfare) Bill, 2024, which is now expected to be introduced as an Ordinance. If passed, this would make Karnataka the second State in the country to introduce legislation for the welfare of platform-based gig workers after Rajasthan.Why legislation?Reports suggest that there are around 2 lakh platform-based gig workers in Bengaluru working with companies such as Swiggy, Zomato, Uber, Ola, Urban Company, Porter, Amazon, Flipkart and so on. An evolving and nascent sector, the gig economy is expected to create 23.5 million jobs in India by…
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…