Vedanta Aluminium clinched the second spot in the S&P Global Corporate Sustainability Assessment for the aluminium sector worldwide, achieving a global score of 77. This marks the fourth consecutive year the company has ranked among top global entities for its robust Environmental, Social, and Governance practices.
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The government plans to consult with the tech industry and external experts before restricting the transfer of certain personal data outside India, as part of the draft Digital Personal Data Protection rules. The rules also propose parental consent for children under 18 to join social media platforms.
Securitisation volumes in India surged by 80% year-on-year, reaching Rs 68,000 crore in the December quarter. ICRA revised its FY24 estimate to Rs 2.4 lakh crore. Growth was primarily driven by private banks, despite challenges in deposit growth and asset quality concerns in personal and unsecured business loans.
EET Fuels, operating as Essar Oil (UK), secures $350 million in new bank and upsized trade credit financing, including $150 million from Afreximbank. This fund aims to reduce carbon emissions by 95% and develop Stanlow as an energy transition hub, focusing on industrial carbon capture and low carbon hydrogen production.
US President Donald Trump intends to impose reciprocal tariffs on countries like China, Brazil, and India to address trade imbalances and make American industries more competitive. While US tariffs are comparably low, Trump's statements suggest a tit-for-tat approach that might lead to increased prices in the US.
Bitcoin plummeted over 20% from a January high of $109,350 to $85,000, erasing nearly $300 billion in market value due to ETF outflows, geopolitical tensions, and institutional sell-offs. Experts see potential further drops to $74,000 amid economic instability. While fears of a prolonged downturn persist, some view it as an opportunity given crypto's strong fundamentals.
India's GDP growth is projected to stay steady at 6.5% for fiscal 2026 due to cooling food inflation, tax benefits, and lower borrowing costs. Despite global uncertainties like US-led tariff wars, robust infrastructure expansion and economic reforms are expected to support short-term and medium-term growth.
FICCI has revised India's GDP growth forecast to 6.4% for FY 2024-25, down from 7.0%. Consumer spending is expected to rise, driven by positive developments in agriculture and rural areas. Industrial and services sectors will see modest growth. Inflation is anticipated to ease, and foreign investment opportunities are emerging.
The UK pledged £20 billion ($26 billion) on Sunday to help exporters including those affected by US tariffs, as President Donald Trump's sweeping stop-start import taxes roil global markets. Britain's finance ministry said the move would expand the UK's export finance package by £20 billion to a total of £80 billion, with "thousands of UK businesses affected by tariffs set to benefit."
The Indian rupee closed at 85.43 against the dollar, gaining seven paise. Initially weaker, the rupee strengthened due to the weakening US dollar amid recession concerns and inflation. Despite higher US tariffs on Indian imports, they are lower compared to other countries. Asian currencies recovered, and Indian equities outperformed, while US stocks opened negatively.
Zomato's third-quarter profit dropped by 57% to Rs 590 million due to increased spending on its quick commerce platform, Blinkit. Despite this, overall revenue surged 64% to Rs 54.05 billion. Revenue from the core food delivery business grew by 22%, while Blinkit's revenue more than doubled as Zomato focused on expansion and faced stiff competition.