India's GDP Growth Projected to Slow to 6.4% in FY25: Govt Data

Brief by Shorts91 Newsdesk / 12:15pm on 07 Jan 2025,Tuesday Business

India's GDP growth is expected to fall to 6.4% in FY25, the lowest in four years, according to the National Statistics Office's (NSO) first advance estimates. This marks a sharp slowdown from FY24's 8.2% growth. The projection is lower than the Reserve Bank of India's 6.6% forecast. Key sectors like agriculture and construction are expected to show growth, with agriculture forecast to rise by 3.8% and construction by 8.6%. Despite overall slowdown, sectors such as financial and real estate services show resilience, indicating some positive momentum.

Read More at India Today

Air Kerala to Launch in June 2025, First Flight from Kannur Airport

Brief by Shorts91 Newsdesk / 08:01am on 03 Jan 2025,Friday Business

Air Kerala is set to commence operations by June 2025, with its first flight departing from Kannur International Airport. The airline, which received a no-objection certificate from the civil aviation ministry in July 2024, has partnered with Kannur International Airport Ltd (KIAL) to establish a base and begin regional flights. Initially operating regional ATR turboprop aircraft, the carrier plans to expand to narrow-body jets and international routes. Chairman Afi Ahmed emphasized the airline's commitment to offering reliable, affordable travel. Kannur Airport is poised to become a key hub, connecting domestic and international passengers seamlessly.

Read More at The telegraph India

Cadbury Loses Royal Warrant After 170 Years Under King Charles' Reign

Brief by Shorts91 Newsdesk / 07:01am on 24 Dec 2024,Tuesday Business

Cadbury, the iconic Birmingham-based chocolate maker, has lost its royal warrant after 170 years. Granted its first warrant by Queen Victoria in 1854, the company was excluded from King Charles' revised list. The US-owned Mondelez International expressed disappointment but respected the decision. Campaigns urging removal of warrants from companies operating in Russia, including Mondelez, influenced the move. The withdrawal impacts Cadbury’s branding, as the royal seal must be removed. Experts say the decision reflects changing royal priorities while marking a significant shift in Cadbury's legacy. Cadbury celebrated its 200th anniversary earlier this year.

Read More at BBC

Honda And Nissan Announce Merger, Poised To Become Third Largest Automaker

Brief by Shorts91 Newsdesk / 10:53am on 23 Dec 2024,Monday Business

Japanese carmakers Honda and Nissan have announced plans to merge, creating the world's third-largest automaker by sales, following Toyota and Volkswagen. The merger will include Mitsubishi Motors, part of the Nissan Alliance, and focus on cutting costs and competing in the electric vehicle (EV) market. Honda’s president, Toshihiro Mibe, stated the new company would retain each brand’s principles, aiming to finalize the deal by August 2026. With a combined market value exceeding $50 billion, the collaboration seeks to address EV components, autonomous driving software, and global market competition. Mibe cautioned the merger's implementation is not guaranteed.

Read More at Sky News

Sensex Surges 800 Points, Nifty Up 243 As Banking, Metal Stocks Rally

Brief by Shorts91 Newsdesk / 07:39am on 23 Dec 2024,Monday Business

Breaking a week-long losing streak, the S&P BSE Sensex soared 802.66 points to 78,844.25, while the NSE Nifty50 jumped 243 points to 23,828.60. Banking, IT, and metal stocks led the recovery, with Reliance Industries and HDFC Bank gaining up to 1.7%. Metal stocks surged 1.3% following a safeguard probe into steel imports. Analysts raised HDFC Bank’s target price to ₹2,100, citing strong asset quality. Global cues supported the rally as Asian markets rose amid subdued US inflation. Despite the gains, experts remain cautious, emphasizing the need for sustained economic growth to ensure market stability.

Read More at India Today

Google Layoffs: Sundar Pichai Cuts 10% Of Managerial Roles

Brief by Shorts91 Newsdesk / 08:13am on 20 Dec 2024,Friday Business

Google CEO Sundar Pichai has announced a 10% reduction in managerial roles, including directors and VPs, as part of efforts to enhance efficiency amid rising AI competition. The decision, revealed during an all-hands meeting, marks another step in Google's restructuring strategy that began in 2022. While some managerial roles transitioned to individual contributor positions, others were eliminated. Google faces mounting challenges from rivals like OpenAI threatening its search market dominance. Over the past two years, Google has streamlined operations, including a massive layoff in 2023 that impacted 12,000 employees globally.

Read More at Hindustan Times

Sensex Crashes Over 1,100 Points As Global Markets Reel From US Fed Cautious Rate Cut Signals

Brief by Shorts91 Newsdesk / 08:01am on 19 Dec 2024,Thursday Business

India’s stock markets witnessed a sharp decline as global sell-offs deepened following the US Federal Reserve's cautious rate cut stance. The Sensex plummeted 1,153 points to 79,029.03, while the Nifty dropped over 200 points, closing at 23,966.25. The Fed's 0.25% rate cut, paired with signals of limited future reductions, triggered investor concerns. A record-low rupee, weaker bond yields, and FPI outflows of ₹1,317 crore added to the turmoil. Experts pointed to 23,900 as a critical support level for the Nifty. While volatility remains high, analysts advised avoiding panic selling and focusing on fundamentally strong stocks to navigate the market turbulence.

Read More at India Today

Rupee Hits Historic Low of ₹85 Against USD as US Fed Policies Pressure Global Currencies

Brief by Shorts91 Newsdesk / 05:16am on 19 Dec 2024,Thursday Business

The Indian rupee plunged to an all-time low of ₹85 against the US dollar on Thursday, following a 25 bps rate cut by the US Federal Reserve and a cautious outlook for 2025. The decline marks the fastest depreciation pace in years, with the rupee sliding from ₹84 to ₹85 in just two months. Weak capital inflows, a widening trade deficit, and slowing domestic growth have compounded the pressure. Other Asian currencies, including the Korean won and Malaysian ringgit, also weakened by 0.8%-1.2%. Analysts expect the rupee’s volatility to persist in 2025 despite RBI interventions.

Read More at India Today

Stock Market Crash: Sensex Falls 1,079 Points, Nifty Drops 330 Points

Brief by Shorts91 Newsdesk / 05:33am on 13 Dec 2024,Friday Business

India's stock market witnessed a sharp decline on Friday as the BSE Sensex plunged 1,079 points to 80,210, and the NSE Nifty fell 330 points to 24,218. Metal stocks led the slump, with Tata Steel and JSW Steel among major losers, alongside IndusInd Bank and Reliance Industries. Foreign Institutional Investors (FIIs) sold ₹3,560 crore worth of equities on Thursday, further weakening market sentiment. While global market trends and fund outflows weighed on indices, select stocks like Bharti Airtel and Hindustan Unilever bucked the trend, registering gains. Analysts cite global uncertainties and weak demand as key factors behind the crash.

Read More at Hindustan Times

RBI Keeps Key Lending Rate at 6.5%, Focuses on Inflation Control

Brief by Shorts91 Newsdesk / 04:49am on 06 Dec 2024,Friday Business

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has maintained the key repo rate at 6.5%, prioritizing inflation control. RBI Governor Shaktikanta Das announced the decision, backed by a 4-2 majority, emphasizing a neutral stance to ensure inflation aligns with the target. The standing deposit facility (SDF) remains at 6.25%, while the marginal standing facility (MSF) and bank rate stand at 6.75%. The cash reserve ratio (CRR) remains at 4.5%, mandating banks to hold reserves with the RBI. Das reiterated the MPC’s commitment to tackling inflation sustainably for long-term economic stability.

Read More at India Today

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