Business

[ad_1] Lego opened a $1 billion factory in Vietnam, marking a major step in the Danish toymaker’s bid to strengthen its presence across Asia. The new plant is located in the southern province of Binh Duong, is the company’s second facility in Asia and its sixth globally. The factory is designed to cater exclusively to the growing demand in Asian markets, with products destined for customers in countries such as Australia, Japan, South Korea, India, and Vietnam itself. It will not export to the United States, where a steep 46 per cent tariff on Vietnamese goods has discouraged many international firms from shipping there.The company plans to employ more than 4,000 people at the site.Lego’s CEO, Niels Christiansen, said the move was driven by both strategic and practical factors.He said that it was important “to have proximity to some of […]

[ad_1] The Securities and Exchange Board of India (Sebi) has eased disclosure norms for foreign portfolio investors (FPIs) by increasing the asset threshold for granular beneficial ownership disclosures from Rs 25,000 crore to Rs 50,000 crore. This move comes in response to the significant growth in the market size, with cash equity trading volumes more than doubling between FY 2022-23 and FY 2024-25.According to PTI report, under the new framework FPIs (either individually or as a group) holding more than Rs 50,000 crore of equity assets under management (AUM) in Indian markets are now required to disclose detailed information about all entities holding any ownership, economic interest, or exercising control, on a full look-through basis.The revised threshold and disclosure requirements will come into effect immediately. Sebi’s board had approved this proposal last month. In August 2023, Sebi had mandated that […]

[ad_1] Sanjay Nayar wears many hats. He is the founder and chairman of Sorin Investments, part of the promoter group of Nykaa and president of industry body Assocham. In an interview with TOI, the former banker, who was also part of the organisers of Startup Mahakumbh, discusses the impact of Trump's tariffs and how govt and business should navigate it. Excerpts:How US tariffs will impact India's exports, economy?US tariffs will undoubtedly pressure select Indian exporters, especially in sectors like textiles and engineering goods. However, India's economic fundamentals remain solid and domestic demand-led growth offers insulation. Manufacturers will respond by doubling down on supply chain diversification and leveraging FTAs with UAE and Australia to reduce over-dependence on US. "China+1" sentiment will continue to work in India's favour, with American buyers now considering India as a reliable alternative sourcing hub. While some […]

[ad_1] NEW DELHI: NCLAT has allowed state-owned Canara Bank and Indian Bank to pursue proceedings against former IL&FS directors, who are not part of the new board, to declare them as wilful defaulter. However, NCLAT said those directors, who are part of new board of IL&FS and its various subsidiaries after Oct 1, 2018, would remain protected."We are of view this protection shall extend to professional directors, who have been reappointed in IL&FS and subsidiaries, who are part of present board. With respect to IL&FS and IL&FS Group...we grant leave to bank to make an application to proceed against them." [ad_2] Source link

[ad_1] Goldman Sachs economists have joined several other Wall Street forecasters in cutting their targets for the S&P. However, for now, the economists view the selloff as an event-driven bear market rather than a cyclical bear market. Stocks tend to suffer average declines of 30% in both kinds of bear markets, but "differ in terms of duration with event-driven downturns being shorter with a faster recovery profile", they said. However, they said the equity selloff could well turn into a longer-lasting cyclical bear market as recession risks mount. [ad_2] Source link

[ad_1] India is eager to progress with the bilateral trade agreement, aiming for completion by fall 2025. (AI image) India is willing to consider duty-free imports from the United States across various sectors, including those under production-linked incentive (PLI) schemes, according to sources familiar with the matter. A substantial offer from India could hasten the proposed bilateral trade agreement (BTA), aiding in the removal of the 26% reciprocal tariff imposed on India since April 9.The Production Linked Incentive (PLI) programme presently encompasses 14 different industries with a budget allocation of Rs 1.97 lakh crore, including sectors such as mobile phones, drones, white goods, telecom, textiles, automobiles, specialty steel and pharmaceuticals.The duty-free access would require compliance with strict rules of origin, necessitating 30-40% value addition and tariff heading modifications as essential criteria.Looking for middle ground"Inter-ministerial consultations are on what can be […]

[ad_1] The Beacon School has officially opened in Sector 64, Gurugram, offering a transformative approach that blends a CBSE-aligned curriculum with real-world project-based application. Spread across 5 acres, the AQI controlled K-12 school is designed to foster curiosity, critical thinking, and holistic development, ensuring that students grow into confident, self-aware learners ready to take on the world. Beacon’s Philosophy centers on encouraging students to be comfortable with who they are as they journey to become their best selves. What truly defines the school is the belief that education is not a static journey but an ever-evolving process of becoming, where every challenge, question, and success propels students closer to their potential and purpose. An education model built for the futureBeacon kindles the spark that fuels a lifelong journey of growth and self-discovery through an innovative four-fold evolved learning curriculum that […]

[ad_1] The RBI has revised downwards its GDP growth projections for FY 2025-26 from 6.7% earlier to 6.5%. RBI governor Sanjay Malhotra has said that the extent of the downward trajectory of the repo rate is uncertain as of now, given the global economic uncertainties created due to US President Donald Trump’s tariffs. On a lighter note he said, “I’m Sanjay, but I'm not the Sanjay of Mahabharata…”RBI governor-led Monetary Policy Committee (MPC) on Wednesday cut the repo rate by 25 basis points to 6.5%. This is the second rate cut in this calendar year, and importantly the RBI has changed its policy stance from neutral to accommodative. RBI governor in his statement explained that an accommodative stand means that the central bank will either maintain status quo or cut rates in the coming monetary policy reviews.Also Check | Trump's […]

[ad_1] This is a representational AI image (Pic credit: Lexica) Indian pharmaceutical stocks slumped on Wednesday after US President Donald Trump renewed his threat to impose sweeping tariffs on all pharmaceutical imports, an announcement that sent shockwaves through drug industry in India, which heavily relies on exports to the US.The Nifty Pharma index dropped 1.7 per cent, dragging the broader Nifty 50 benchmark down by 0.52 per cent as of 9.20 am IST. All 20 constituents of the pharma index were trading in the red.Gland Pharma, Lupin, and Zydus Lifesciences were among the worst hit, plunging between 3 per cent and 5 per cent. Heavyweights Sun Pharma and Cipla also declined, slipping 1.69 per cent and 1.87 per cent, respectively.US a key market for Indian genericsIndia exports a significant volume of generic drugs—low-cost alternatives to branded pharmaceuticals—to the United States, […]

[ad_1] Piyush Goyal (File photo) Union commerce and industry minister Piyush Goyal confirmed that India is working towards a bilateral trade agreement with the United States as agreed between Prime Minister Narendra Modi and President Donald Trump in February.His remarks came as Trump’s 26% reciprocal tariff on Indian goods came into effect.“We are keeping India’s interests at the forefront,” Goyal said, assuring business leaders that ongoing negotiations are progressing well. “This agreement will help power the Indian economy towards Viksit Bharat 2047,” he said.President Trump, in his second term, has doubled down on tariff reciprocity, imposing 26% tariffs on Indian goods. While several nations have responded with retaliatory measures, India has opted to stay the course, focusing on finalising a fair and comprehensive trade pact.Echoing Goyal’s optimism, Union minister Hardeep Singh Puri said India would emerge stronger from the current […]