Business

[ad_1] The Chinese government's subsidies aimed at boosting domestic consumption have led to a surge in the sales of digital products like smartphones, tablets, and smartwatches, generating about $20 billion in just four months, according to the Ministry of Commerce.As of Thursday, over 48 million consumers participated in the government’s digital product subsidy scheme, purchasing a total of 51.48 million products and driving approximately 143.3 billion yuan (around $19.9 billion) in sales, the ministry reported on Friday, as reported PTI.Between January and April, retail sales of communication appliances rose 25.4 per cent compared to the same period last year, marking the fastest growth among 16 major consumer goods categories, data from the ministry showed.In January, China introduced new measures to expand the scope of its consumer goods trade-in programme. The government increased the number of home appliance categories eligible for […]

[ad_1] Maharashtra has set an ambitious target of becoming a $5-trillion economy by 2047, with Chief Minister Devendra Fadnavis highlighting the state’s comprehensive strategy to achieve this goal. Addressing the NITI Aayog Governing Council meeting, Fadnavis said the state government is committed to implementing its vision for both development and the preservation of heritage, aligned with the central government's goal of a "Viksit Bharat" (developed India) by 2047."We are fully prepared to implement our vision for development, and preservation of heritage, which is aligned with the central government’s goal of Viksit Bharat by 2047," Fadnavis said.The state’s roadmap for achieving this goal is outlined in the 'Maharashtra 2047' vision, which is divided into three key stages. The first phase of this plan is to develop Maharashtra into a one-trillion-dollar economy by 2030. Fadnavis further shared that the government has already […]

[ad_1] JK Cement Ltd on Saturday announced a robust 64.5% increase in its consolidated net profit, reaching Rs 361.33 crore for the March quarter of FY25. In comparison, the company had reported a net profit of Rs 219.68 crore in the same quarter of the previous year, according to a regulatory filing.Revenue from operations for the company grew by 15.3%, totalling Rs 3,581.18 crore in Q4 FY25, compared to Rs 3,105.77 crore in the corresponding period a year ago, PTI reported.JK Cement’s total expenses for the March quarter stood at Rs 3,092.04 crore, marking a 9.8% increase year-on-year.The company’s total income, including other income, amounted to Rs 3,627.06 crore, reflecting a 15% annual growth.For the financial year ending March 31, 2025, JK Cement’s net profit rose 10.4% to Rs 872.17 crore, up from Rs 789.93 crore a year ago.In FY25, […]

[ad_1] Property prices increased in 48 out of 50 cities during the fourth quarter of the financial year 2024–25, according to data released by the National Housing Bank (NHB). The NHB’s RESIDEX report revealed that only Howrah and Thiruvananthapuram recorded a decline in property values among the surveyed cities.The Housing Price Index (HPI), which tracks residential property valuation data sourced from banks and housing finance companies across 50 cities, registered a year-on-year increase of 7.5 per cent in Q4 FY25, up from 5.1 per cent during the same period in the previous year. According to a PTI report, all eight major residential markets saw price appreciation during the January–March 2025 period. NHB data showed that Ahmedabad recorded a rise of 6.1 per cent, Bengaluru 13.1 per cent, Chennai 9 per cent, Delhi 2.9 per cent, Hyderabad 4.8 per cent, Kolkata […]

[ad_1] The Life Insurance Corporation of India (LIC) on Saturday announced that it has earned a Guinness World Record for the highest number of life insurance policies sold within 24 hours.The record was achieved on January 20, 2025, when 4,52,839 LIC agents collectively issued 5,88,107 life insurance policies across India, the corporation said in a statement.Guinness World Records officially verified the feat, which sets a new global benchmark for agent productivity in the life insurance industry within a single day, PTI reported.“This monumental effort is a powerful validation of the relentless dedication, skill, and tireless work ethics of our agents. This achievement reflects our deep commitment towards our mission to provide vital financial protection to our customers and their families,” the statement noted.The record-setting performance was part of an initiative led by LIC MD and CEO Siddhartha Mohanty, who had […]

[ad_1] India’s domestic aviation sector continued its upward trajectory in April 2025, as passenger traffic rose by 10.2% year-on-year, as per a report by ratings agency ICRA. An estimated 145.5 lakh passengers flew within the country during the month, up from 132 lakh in April 2024. However, the numbers remained largely unchanged from March 2025, signalling a flat monthly growth.Airline capacity also saw an annual increase of 6.9% in April, though it dipped 4.2% from March, suggesting a modest slowdown in available seat supply.“For April 2025, domestic air passenger traffic was estimated at 145.5 lakh, 10.2% higher than 132.0 lakh in April 2024,” ICRA noted in the report, quoted by ANI.The data further showed that the total number of domestic passengers for the full financial year 2024-25 stood at approximately 1,653.8 lakh, marking a 7.6% rise over FY24. The figure […]

[ad_1] Formal employment under the Employees’ State Insurance Corporation (ESIC) surged in March, with new job creation increasing by 5.79%, reaching 1.63 million, up from 1.54 million in February, provisional payroll data released by the ministry of labour and employment on Friday said.The data also revealed a 33.9% rise in establishments joining the social security umbrella of ESIC with 31,514 new units enrolled in March. This was a sharp uptick from the previous month which recorded 23,526 joinees, as reported by ET.Youth employment remained a strong driver, with nearly half, 0.79 million or 49%, of the new registrations in March belonging to individuals aged 25 years or younger. Female participation also showed encouraging signs, with 0.36 million women registering during the month. Additionally, the ESIC recorded registrations of 100 transgender employees, highlighting the organisation’s commitment to inclusivity.However, since data generation […]

[ad_1] US stocks fell sharply Friday after President Donald Trump threatened to impose steep new tariffs on the European Union, reigniting fears of a global trade war and rattling markets on both sides of the Atlantic.The S&P 500 slipped 0.4% in afternoon trading, positioning the benchmark index for its worst weekly performance in nearly two months. The Dow Jones Industrial Average dropped 132 points, or 0.3%, while the tech-heavy Nasdaq composite shed 0.6%, AFP reported.Trump, posting on his Truth Social platform before markets opened, said trade talks with the EU were stalling and warned that "straight 50%" tariffs could take effect as soon as June 1. The EU is among the US's largest trading partners, and the announcement sent shockwaves through global markets.European stocks took an immediate hit, with France’s CAC 40 plunging 1.7%. US markets opened lower in response, […]

[ad_1] Government announced construction of a new ring road which will run outside Goa, connecting Maharashtra to Karnataka. The project was announced by the Union road transport and highways minister Nitin Gadkari on Friday, in response to Goa CM Promod Sawant and minister for power and renewable energy, Shripad Naik’s plea for an alternative to ease the burden on national highways.The road will skirt around the outer edge of the coastal region and is expected to cost between Rs 12,000 crore and Rs 15,000 crore, PTI reported.“The Union ministry of road transport and highways is considering a ring road from Patradevi (village on Goa-Maharashtra border) to Karnataka which will run through the outer side of Goa, avoiding to cut through middle of the state, to decongest the national highway,” said the transport minister while addressing a gathering in south Goa.Gadkari […]

[ad_1] With fixed deposit rates steadily declining due to Reserve Bank of India (RBI) rate cuts and abundant liquidity, risk-averse investors are turning their attention to the RBI’s floating rate savings bonds. These bonds currently offer attractive annual yields of up to 8.05% for a 7-year tenure, providing a more lucrative and safer alternative to traditional fixed deposits.“Corporate and bank deposit rates have come down in line after the rate cuts announced by RBI,” Anup Bhaiya, MD and CEO of Money Honey Financial, a Mumbai-based distributor told ET. “However, since the RBI floating rate deposit rates continue to be unchanged at 8.05%, there is higher demand for these deposits from retail investors.”These bonds, issued by the central bank on behalf of the government, are considered highly safe and offer a 35-basis-point premium over returns promised by the National Savings Certificate. […]