Indian equity indices closed on a record-high note on Tuesday, with Nifty 50 and BSE Sensex reaching new all-time highs. Maruti Suzuki, M&M, ITC, Divi’s Laboratories, and Titan Company were the significant gainers in the Nifty 50. Nifty Midcap 100 also added points, while smallcap and midcap stocks closed in the green. Nifty Auto, Consumer Durables, and Pharma lead the markets to new highs.
The Union Budget has allotted a considerable sum for the advancement of Indian Railways. The Railway Minister has highlighted the accomplishments of the previous decade, such as high freight loading and improved track and electrification coverage. The budget also prioritizes industrial growth and connectivity, with a special focus on the eastern regions.
India's passport has been ranked 82nd on the Henley Passport Index 2024, granting visa-free access to 58 countries. Popular tourist destinations like Indonesia, Maldives, and Thailand can be visited without a visa. The index, based on IATA data, places India alongside Senegal and Tajikistan. Singapore, France, Italy, Germany, Spain, and Japan hold the top spots.
Federal Bank's first quarter profits increased by 18.2%, with a 26% rise in interest earned and 19.46% growth in Net Interest Income. The bank's total business and deposits also saw significant growth. The Managing Director and CEO, Shyam Srinivasan, expressed satisfaction with their performance and emphasized their focus on expanding both physical and digital presence despite challenges.
Kolkata Airport organized a technical session to train air traffic controllers on handling spoofing, a dangerous threat to flights. The session focused on GNSS, a satellite network used for aircraft navigation. The AAI emphasized the safety advantages of GNSS in Air Traffic Management. The training was led by Mahua B Adhikary, General Manager.
The Bihar Assembly has passed a bill to combat question paper leaks and other malpractices in government recruitment exams. The bill introduces strict measures, including prison sentences and fines, to ensure the integrity of competitive exams. This move reflects the government's commitment to transparency and restoring public trust in the state's examination systems.
Indian equity indices closed lower for the second day due to increased tax on capital gains. Experts see this as a short-term setback, with the government's strong fiscal and growth policies attracting foreign investors in the long run. Nifty 50 and BSE Sensex closed lower, while Nifty Midcap 100 closed in the green. Banking stocks were the main reason for the decline.
BMW has launched the all-new eighth generation 5 Series in India, exclusively in the long wheelbase (LWB) format. Priced at Rs 72.90 lakh, it will compete with the upcoming Mercedes-Benz E-Class. This is the first time the 5 Series LWB is available in a right-hand drive configuration. It boasts dimensions of 5,175mm in length, 1,900mm in width, and 1,520mm in height, with a
CBSE has released the provisional answer key for the CTET exam held on July 7, 2024. Candidates can check and challenge any answers by paying a fee on the official website. A minimum score of 60% is required to qualify, with relaxed criteria for reserved categories. The final answer keys and results will be announced after reviewing challenges.
Captain Brijesh Thapa, a third-generation army officer and skilled guitarist, lost his life in an encounter in Doda District in J&K on July 15. His father, Colonel Thapa, expressed pride and grief at his son's sacrifice for the country. The Indian Army has a long list of soldiers who have made the supreme sacrifice, exemplifying their strong ethos.
Scientists have found "dark oxygen" in the ocean, likely produced by metallic nodules on the seafloor. This challenges the idea that most oxygen comes from marine plants and has implications for the global oxygen cycle and the origin of life. However, it also raises concerns about deep-sea mining projects.
Finance Minister Nirmala Sitharaman has allocated Rs 22,138 crore or 0.45 per cent of the 2024-25 total budget expenditure of Rs 48.21 lakh crore to the MSME Ministry. The allocated amount to MSMEs in the first full budget of the Modi 3.0 government has remained the same from the previous year.
The Airport Authority of India (AAI) has partnered with the Union Territory Administration of Andaman and Nicobar Islands to manage Car Nicobar and Campbell Bay airports. The contract was signed with private airline firm 'Flybig' to operate between the two airports. This collaboration is expected to enhance air connectivity and promote regional growth.
The Toyota Taisor, now known as the Starlet Cross in South Africa, has been released with a stylish design and features aimed at young drivers. While the dashboard layout remains the same, the color options have been changed. Both models offer a touchscreen infotainment system and safety features. Priced between Rs. 13.69 lakh and Rs. 16.4, the Starlet Cross boasts a 1.5l gasoline engine.
CBDT chairman Ravi Agarwal explains the reasoning behind changes proposed in Union Budget 2024-25, including revamping of capital gains tax and use of AI for dispute resolution. The government aims to normalize transaction growth and nudge taxpayers towards the new tax regime, with expected revenue increase from STT and short term capital gains.
Kerala government launched a program to address land shortage for industrial infrastructure by establishing campus industry parks in educational institutions. 80 institutions have shown interest, and 25 will be approved this year. The decision was made after consultations with industry experts and district-level discussions.
L&T's fiscal first quarter profit increased by 11.7% to Rs 2785.72 crore, with revenue from operations at Rs 55,119.82 crore, up 15.1%. The company's robust execution in the Projects & Manufacturing portfolio, aided by a large order book, contributed to this growth. International revenues accounted for 48% of the total revenues, while the company's EBITDA stood at Rs 5615.3 crore.
Apple is set to release the highly anticipated budget-friendly iPhone SE 4 in October, following months of speculation. The new model is expected to have significant upgrades, including a larger display, dual-camera system, and the latest A18 Bionic chip. While the official release date is still unknown, production ramping up suggests a launch is imminent.
Modi government allocates Rs 2,582 crore to Delhi for rail infrastructure development in 2024-25 budget, a 27 times increase from 2009-14 average. Indian Railways, under Ministry of Railways, receives Rs 1.40 lakh crore in FY22-23.
Air India Express launched its first direct international service from Bengaluru to Abu Dhabi, making Bengaluru its largest station with over 200 weekly flights. The new route will allow passengers from 17 Indian cities to conveniently connect to Abu Dhabi through one-stop itineraries. The airline currently operates direct flights to 9 Indian cities and offers one-stop itineraries from 17 cities.
Mini has launched the updated Cooper S and Countryman Electric in India, priced at Rs. 44.9 lakh and Rs. 54.9 lakh, respectively. Deliveries will begin in September. The Cooper S gets design changes and added features like a digital OLED touchscreen and intelligent personal assistant. The Countryman Electric, based on BMW iX1 platform, has a 66.45kWh battery with a range of 462km.
The Union Budget 2024-25 has allocated a record-breaking amount of Rs 5,147 crore for the development of rail infrastructure in Punjab, a 23 times increase from the average allocation in 2009-14. This is part of the central government's capital expenditure of Rs 2,62,200 crore for railway infrastructure development across the country. The state currently has ongoing projects worth Rs 19,843 crore.
The DoT has launched the Chakshu Portal to combat cyber fraud in India. It allows citizens to report suspicious calls, SMS, and WhatsApp messages, covering various types of fraud. The portal also integrates with DIP to share information with law enforcement agencies, strengthening the nationwide effort to prevent cybercrime.
BMW Motorrad has launched the CE 04, India's most expensive electric two-wheeler at a price of Rs 14.90 lakh. This premium EV scooter boasts a futuristic design and advanced technology. With a range of 130 km and a top speed of 120 kmph, the CE 04 offers three riding modes and fast charging capabilities. It also features a 10.25-inch TFT instrument cluster, keyless ignition, and ABS.
The Indian government is promoting aircraft and ship leasing through private equity funds and a new company structure. Incentives have been announced for MRO services and the domestic aviation sector. The Economic Survey 2024 highlights the use of IFSC at GIFT City for aircraft leasing. The Budget also allows for an extended export duration for MRO activities.
The Wadsa-Gadchiroli Railway line, aimed at mitigating challenges in Left Wing Extremism affected areas, is gaining momentum with necessary land and forest clearances. The current government has made progress in overcoming delays in land acquisition. The 52.36 km line will provide transportation for the poor and enhance passenger transport in the region.
Samsung has launched its latest foldable phones, smartwatches, and wireless earbuds in India, including the Galaxy Z Fold6 and Z Flip6. These devices come with improved features and have received a strong response in pre-orders. The Galaxy Buds3 have AI integration and ANC, with prices starting at Rs 109,999 and Rs 164,999 respectively.
Key voices in the MSME ecosystem have welcomed the measures announced in the union budget 2024-25 by Finance Minister Nirmala Sitharaman while calling out the gaps left. Importantly, the budget skipped providing an update on the demand to revise or repeal the 45-day payment rule from a section of traders, exporters and MSMEs.
Axis Bank reported a 4.1% profit growth in the first quarter of FY25, with total interest earned at Rs 30.06 thousand crore and net interest income at Rs 13,448 crore. The bank also saw a 16% increase in core operating profit and a 15% increase in operating profit. Additionally, the bank's balance sheet and deposits grew by 13% and advances grew by 14%.
Meta has launched its latest and largest AI model, the Meta Llama 3.1 405B, which outperforms major closed models and offers a 1,28,000 tokens context window. It is expected to be available on major cloud platforms and can be trained with custom data by companies like Deloitte and Dell. Other updates include a multilingual Meta AI assistant and image generation based on a person's appearance.
Hitachi Energy India posted a profit of Rs 10.42 crore in the first quarter of FY25, up 332.4% from the same period in FY24. Revenue from operations also increased by 27.6%, driven by investments in the power sector and strong order intake. The company's order backlog reached a record high of Rs 8,539.4 crore, providing revenue visibility for several quarters.
Apple is reportedly developing two prototypes of foldable iPhones and plans to release a clamshell-style flip phone by 2026. The company has given the project a codename of 'V68' and is in the initial stages of development. Apple also plans to introduce a foldable MacBook by 2027. The foldable iPhone is rumored to be the most expensive one.
The Indian government's budget for the Ministry of External Affairs for 2024-2025 introduces changes in foreign aid distribution, with increased allocations for Nepal, Sri Lanka, and Seychelles. Other neighboring nations may see a decrease in aid, while strategic projects like the Chabahar port in Iran will continue to receive funding.
Meta AI has expanded to 22 countries with multilingual capabilities, supporting languages like Hindi, French, and Spanish. It can be used on WhatsApp, Instagram, Messenger, and Facebook for answers, inspiration, and creative tools. The "Imagine me" feature allows for personalized images and the "Edit with AI" button makes editing easier.
Congress MP Deepender Hooda has submitted a notice during the budget session of Parliament, demanding an Ahir regiment in the Indian Army. This demand, driven by political motives, has been made several times before, citing the community's bravery. However, the government has stated that new regiments based on caste or religion will not be formed.
Adobe has launched a new set of AI-powered tools called Firefly for Photoshop and Illustrator, including features like Selection Brush, Generative Shape Fill, and Text to Pattern. The update aims to speed up the design process with tools like Mockup and Dimension Tool, all built into the existing software.
India and Brazil are collaborating in the civil aviation industry, with Embraer being a major player. Star Air, an Indian airline, uses Embraer aircraft and offers business class on regional routes. Embraer is focused on developing sustainable aviation technologies and aims to be carbon neutral by 2040. This partnership highlights their dedication to an eco-friendly aviation sector.
Four writers from India and England launched a new literary festival in Cambridge, UK, expanding its footprint from the Himalayan town of Kasauli. Indian literature is gaining global recognition, with festivals like KSLF and JLF becoming popular abroad. These festivals offer a platform for diverse voices and explore universal themes.
David Lammy's visit to India seeks to enhance the Comprehensive Strategic Partnership between the UK and India, with a focus on economic, domestic, and global security. He will meet with Indian officials and business leaders to promote a reset in the relationship and drive growth for both economies. Lammy also plans to advocate for accelerated climate action.
Under the 'Amrit Bharat' scheme, thirteen railway stations in Delhi will be re-developed, with a budget of Rs 2,582 crore allocated by the Northern Railway. In the last 10 years, the division has built 2.4 km of new tracks and electrified 4 km of tracks. Currently, four schemes involving 302 km of new tracks are ongoing, with 13 rail flyovers and under-bridges already constructed.
The Quad Foreign Ministers' meeting in Tokyo will pave the way for the postponed Quad Leaders' Summit, with a focus on economic, health, and maritime security. The meeting aims to strengthen collaboration and achieve a free and open Indo-Pacific region. Attention is now on creating a work programme to address current priorities and counter China's influence.
France's French Tech Visa for Founders is a streamlined process for foreign entrepreneurs to obtain a multi-year residence permit. It aims to attract top talent and promote innovation and growth. The visa offers benefits such as bringing family members and participating in economic activities.
Bolivia's potential accession to MERCOSUR, a Southern Common Market, has been in the works since 2012. Despite being an associated member since 1996, Bolivia has faced delays due to concerns over its democratic institutions. However, full membership would bring benefits such as increased trade, investment opportunities, and energy cooperation.
India's semiconductor industry is experiencing a significant shift thanks to GenAI. This technology is revolutionizing the entire semiconductor value chain, from chip demand to manufacturing and innovation. It offers advantages such as chip optimization, smart manufacturing, and quicker time to market. With the government's support and investments.