Following recent turmoil stemming from incorrect derivative trade recognition, the Institute of Chartered Accountants of India (ICAI) will scrutinize IndusInd Bank's financial statements. The Financial Reporting Review Board (FRRB) will conduct the review for the fiscal years 2023-24 and 2024-25 to ensure compliance with accounting and auditing standards.
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Aadhaar cardholders can update their identity and address documents online for free until June 14, 2025, as announced by UIDAI. After this date, updates will require a visit to an Aadhaar Enrolment Centre with a fee of Rs 50. Updating PoI and PoA documents every 10 years ensures accurate records and avoids potential service disruptions.
Suresh Narayanan, retiring CMD of Nestle India, reflected on the 2015 Maggi crisis as a major career challenge. He successfully revitalized Maggi after a nationwide ban due to safety concerns. Under his leadership, Nestle India saw significant growth, expanding its product portfolio and increasing capital expenditure, demonstrating a commitment to manufacturing in India.
A recent report indicates that China is emerging as a significant force in the global AI landscape, particularly in non-reasoning models, with DeepSeek V3 0324 leading the way. While the US still dominates in reasoning models, advancements in multimodal AI and cost reductions are accelerating innovation and expanding access to high-performance AI worldwide, intensifying competition among key players.
Bajaj Auto's consolidated net profit witnessed a 10% year-on-year decline, reaching Rs 1,802 crore in Q4, primarily due to reduced domestic sales. While the company's net profit for the same period last year was Rs 2,011 crore, total revenue from operations saw an increase, climbing to Rs 12,646 crore during the quarter.
The OECD projects a U.S. economic slowdown to 1.6% in 2025, down from 2.8% in 2024, attributing it largely to President Trump's tariff policies disrupting global trade. These measures have increased U.S. tariff rates significantly, impacting business and consumer confidence. The global economy also faces strain, with growth expected to drop.
US stocks edged higher amid trade policy uncertainty, with the S&P 500 nearing its all-time high. Dollar General surged on strong earnings, while the OECD downgraded the US economic growth forecast. Investors are anticipating potential US-China trade talks, and new labor data indicated continued strength in hiring, preceding Friday's employment report.
President Trump signed executive orders to bolster drone security, promote air technologies like electric air taxis and supersonic aircraft, and reduce reliance on Chinese drone manufacturers. A federal task force will enhance airspace protection and counter-drone capabilities. The FAA is instructed to remove the ban on overland supersonic transport, contingent on preventing sonic booms on the ground.
India Energy Storage Week (IESW) 2025, scheduled for July 8-10 in New Delhi, anticipates over Rs 8,000 crore in investments across energy storage, electric mobility, and green hydrogen. Organized by IESA, the event expects participation from international delegates and aims to foster business deals and collaborations. This will accelerate India's clean energy manufacturing ambitions, supported by state and central ministries.
Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July. But in early 2025, OPEC+ members decided on the gradual output increase and subsequently began to accelerate the pace.
India and the US are actively engaged in discussions to finalize an initial tranche of a bilateral trade agreement (BTA). American officials have arrived in Delhi for negotiations aimed at enhancing market access and supply chain resilience. Commerce Minister Piyush Goyal expressed confidence in achieving positive outcomes.