In the 1990s, Italy initiated the largest privatisation programme in continental Europe, dismantling much of its industrial backbone instead of fostering innovation

Economic shortsightedness is jeopardising Italys G7 ambitions

Business Standard

Under the terms of a two-month ceasefire that went into effect on November 27, Hezbollah is supposed to withdraw its armed presence from areas of southern Lebanon south of the Litani River

Lebanon, Israel, Lebanon-Israel flag

State-owned Indian Oil Corporation (IOC) has begun a probe into allegations of a US speciality chemicals firm bribing its officials 15 years back to obtain contracts to supply catalysts, according to a company's regulatory filing.
Albemarle Corporation, a global speciality chemicals supplier that develops and sells catalysts used in the operation of oil refineries, allegedly "paid approximately USD 1.14 million in commission to India intermediary company relating to Indian Oil Corporation business and obtained approximately USD 11.14 million in profits on that business between approximately 2009 and 2011," according to a US SEC order dated September 28, 2023.
Albemarle was caught for bribery by the US authorities in 2017 and then settled the case in September 2023 by paying a hefty fine of more than USD 198 million to avoid prosecution.
In a filing, IOC said it is "neither party to nor is there any allegation against the company in relation to the proceedings" in the US SEC.
"Howev

Indian Oil corporation, IOC

Experts fear that Indian exporters might have to pay higher duties while exporting pharmaceuticals, textiles, chemicals, and engineering goods

In 2018, as the President of the United States, Donald Trump called India the “tariff king”, citing the high import duties (100 per cent at that time) on Harley Davidson bikes, but also saying the Indian government was ready to reduce it.

A small plane crashed into a Brazilian town that is popular with tourists on Sunday, killing several people, local officials said.
Eduardo Leite, governor of Rio Grande do Sul state, said in a statement on X that no passenger survived the crash in Gramado town, and that the plane had capacity to carry nine passengers. Authorities did not immediately say how many passengers or crew were on board.
Brazil's Civil Defence Agency said the plane hit the chimney of a home and then the second floor of a building before crashing into a shop in a residential neighbourhood. More than a dozen people who were on the ground were taken to hospitals with injuries including smoke inhalation.
Gramado is in the Serra Gaucha mountains and is popular with Brazilian tourists who enjoy the cool weather, hiking spots and traditional architecture.

plane crash, crash

Union Minister for Heavy Industries and Steel, H D Kumaraswamy, announced on Sunday plans to revive the Sir M Visvesvaraya Iron and Steel Factory in Bhadravati with an estimated investment of Rs 15,000 crore.
Speaking at the 87th All India Kannada Literary Conference in Mandya, the Minister stated that this decision aligns with the Modi government's efforts to address unemployment and focus on industrial growth in Karnataka.
The Minister highlighted the historical significance of the Bhadravati factory, established under Mysuru Maharaja Nalvadi Krishnaraja Wadiyar and Bharat Ratna Sir M Visvesvaraya. Once a source of employment for thousands and a livelihood for lakhs, Kumaraswamy expressed confidence that the glorious days of the steel factory would soon return. "Prime Minister Narendra Modi has entrusted me with the critical responsibilities of the Heavy Industries and Steel portfolios. I am working diligently to ensure these responsibilities benefit Karnataka," said ...

HD Kumaraswamy

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record Rs 1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
The year was marked by Hyundai Motor India's historic IPO, the largest in the country's history, which raised Rs 27,870 crore.
Companies of varying market capitalisations -- large, mid, and small -- tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
The exceptional vibrancy of the IPO market was evident, with December alone seeing at least 15 launches.
"Rising retail participation, strong domestic inflows and active participation by FPIs (

ipo market listing share market

Record fundraising surpasses the previous high of Rs 9,370 cr in 2023

A 50-year-old doctor from Saudi Arabia, who has been living in Germany since 2006, is the prime suspect in the Christmas market attack in Magdeburg, which killed five people

Germany police

The accumulated losses of state public sector enterprises (PSEs) rose from Rs 3,953.70 crore in 2020-21 to Rs 4,778.70 crore in 2022-23, while the profit earned by 13 SPSEs stood at Rs 20.21 crore as on September 30, 2023, according to a report by the Comptroller and Auditor General (CAG) on finances tabled in the Assembly on Saturday.
The net worth of nine out of these 14 PSEs has been completely eroded by losses and their worth was (-) Rs 1,932 crore against an equity investment of Rs 2,085.59 crore, while three PSEs have outstanding government loans amounting Rs 3,132 crore, the report said.
Himachal Pradesh State Electricity Board topped the list of loss making enterprises with accumulated losses of Rs 1,809.61 crore, followed by Himachal Pradesh Road Corporation at Rs 1707.12 crore, HP Power Corporation at Rs 552 crore, Himachal Pradesh Power Transmission Corporation at Rs 395.91 crore, HP Financial Corporation at Rs 180.97 crore, State Forest Corporation at Rs 113.04 crore, HPM

The Centre may overshoot the Rs 56,260 crore target for dividend receipts from central public-sector enterprises (CPSEs) set for FY25 and is likely to end up getting around Rs 65,000 crore this financial year, according to a senior government officia

The American economy grew at a healthy 3.1 per cent annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate.
Third-quarter growth in US gross domestic product  the economy's output of goods and services  accelerated from the April-July rate of 3 per cent and continued to look sturdy despite high interest rates, the Commerce Department said Thursday. GDP growth has now topped 2 per cent in eight of the last nine quarters.
Consumer spending, which accounts for about two-thirds of US economic activity, expanded at a 3.7 per cent pace, fastest since the first quarter of 2023 and an uptick from Commerce's previous third-quarter estimate of 3.5 per cent.
Exports climbed 9.6 per cent. Business investment grew a lackluster 0.8 per cent, but investment in equipment expanded 10.8 per cent. Spending and investment by the federal government jumped 8.9 per cent, including a 13.9 per cent

US flag, US, united states

Marketers and platforms face scrutiny as new rules aim to protect children under 16 from online harm

Australia's social media ban for kids sparks debate on advertising ethics

The initial public offer of packaging machinery manufacturer Mamata Machinery Ltd got fully subscribed within minutes of opening for bidding on Thursday and finally ended with 16.48 times subscription.
The initial share sale received bids for 8,53,20,334 shares against 51,78,227 shares on offer, translating into 16.48 times subscription, as per NSE data.
The quota for Retail Individual Investors (RIIs) fetched 23.84 times subscription. The portion for non-institutional investors received 18.87 times subscription and the category for Qualified Institutional Buyers (QIBs) got subscribed 1.51 times.
The Rs 179-crore IPO is open for public subscription from December 19-23 in the price range of Rs 230-243 per share.
Mamata Machinery Ltd on Wednesday said it has raised over Rs 53 crore from anchor investors.
The Gujarat-based company's initial share sale is entirely an Offer For Sale (OFS) of 73.82 lakh equity shares by promoters worth Rs 179.38 crore at the upper end of the price ...

Prime Minister Narendra Modi on Thursday spoke to UK's King Charles and reaffirmed India's commitment to strengthening the comprehensive strategic partnership.
During their discussion, they reflected on the historic relationship and emphasized their shared goal of fostering deeper collaboration in various areas.
They reaffirmed their commitment to strengthening the Comprehensive Strategic Partnership between the two nations which has been a cornerstone of bilateral relations, according to an official statement.
The conversation also touched upon the Commonwealth of Nations, with both leaders exchanging views on the outcomes of the recently concluded Commonwealth Heads of Government Meeting (CHOGM) held in Samoa.
Both countries are key members of the Commonwealth and the dialogue highlighted their dedication to advancing the organization's goals.
Climate action and sustainability emerged as pivotal topics during the exchange.
Prime Minister Modi praised King Charles III for his ..

Modi, Narendra Modi

The initial share sale of Concord Enviro Systems Ltd, an environmental engineering solutions firm, received 59 per cent subscription on the first day of bidding on Thursday.
The initial public offering (IPO) got bids for 29,79,585 shares against 50,15,356 shares on offer, as per data available with the NSE.
The retail individual investors (RIIs) portion received 1.02 times subscription while non-institutional investors part got subscribed 35 per cent.
Concord Enviro Systems has raised Rs 150 crore from anchor investors.
The Rs 500-crore IPO will close on December 23. The shares are available in a price range of Rs 665-701 per share.
The IPO comprises a fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 46.41 lakh equity shares valued at Rs 325.33 crore, at the upper-end of the price band, by promoters and an investor.
This aggregates the issue size to Rs 500.33 crore.
Those selling shares in the OFS are, promoters Prayas Goel and Prerak Goel, promo

The I-T department probes Rs 7,500 crore spent on lavish weddings, targeting Jaipur planners and fake billing networks linked to foreign destination events and cash transactions

weddings, marriage

Congress calls FIR against Rahul Gandhi over Parliament scuffle a 'badge of honour', alleging BJP's vendetta and diversionary tactics to counter his protest against Amit Shah's Ambedkar remarks

Giovanni Tagliani

Giovanni Tagliani

Giovanni Tagliani

Economic shortsightedness is jeopardising Italy's G7 ambitions

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Will not let Hezbollah rebuild terror infrastructure: Israel minister

Indian Oil Corporation probes allegation of US firm bribing officials

India under pressure as Trump vows action on tariffs and trade deficit

Many feared dead as small plane crashes into popular tourist town in Brazil

Kumaraswamy announces Rs 15,000 cr revival plan for Visvesvaraya factory

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FPIs pull out Rs 976 crore from Indian equities amid rising dollar

IPO boom: Record Rs 1.6 trn raised in 2024; bigger gains expected in 2025

Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

Who is the Saudi-born suspect behind Germany Christmas market attack?

Losses of Himachal's 30 PSEs rose from Rs 3,953 cr to Rs 4,778 cr: CAG