Business

[ad_1] MUMBAI: Genesis Advertising and Puretech Digital have merged to form one group entity, Genesis Group. The merger, through a mix of cash and stock, will allow the group to offer its clients a wider suite of both traditional and digital advertising and marketing services. “We tried digital business but did not make much headway.We do brand, strategy, creativity, activation while Puretech has expertise indigital media, growth marketing, influencer marketing,” said Ujjal Sinha, founder and MD of Genesis.Genesis, which was founded in 1988 and has a strong presence in the east, will absorb all employees of Puretech and the combined entity will house more than 450 employees. Puretech started out of Mumbai in 2004 as a web development agency and has over the years grown to a digital agency. “Today we live in two India — physical and digital. Comprehensive […]

[ad_1] Consumer sentiment in the United States fell for the fifth straight month in May, driven by growing concerns over inflation linked to President Donald Trump's trade policies. According to preliminary data from the University of Michigan, the consumer sentiment index dropped by 2.7 per cent to 50.8- its lowest level since June 2022 and nearly 30 per cent below its January reading. The decline contradicts economists’ expectations of stabilization. The drop reflects rising anxiety over inflation, fueled by Trump’s aggressive tariff strategy. Although recent trade talks led to a reduction in US tariffs on Chinese goods, from 145 per cent to 30 per cent, current rates remain historically high. In return, China agreed to lower duties on US exports from 125 per cent to 10 per cent.People became more concerned about the escalating cost of living as inflation expectations […]

[ad_1] India’s wheat procurement has surpassed the previous year’s level, reaching 28.66 million tonnes so far in the 2025–26 marketing year, according to official data released on Thursday. This marked the highest procurement since the 2022–23 marketing year, buoyed by expectations of a record wheat output of 115.3 million tonnes this season.In comparison, total wheat procurement during the 2024–25 marketing year stood at 26.59 million tonnes, according to PTI report.The wheat marketing year runs from April to March, with the majority of procurement typically taking place within the first three months. Procurement is conducted by the Food Corporation of India (FCI) along with state agencies, who purchase wheat at the Minimum Support Price (MSP) for the central pool.As of May 16, all five major wheat-procuring states—Punjab, Haryana, Madhya Pradesh, Rajasthan, and Uttar Pradesh—have recorded higher procurement figures compared to last […]

[ad_1] Trump has asked Apple CEO to stop iPhone manufacturing in India and relocate production to the United States. Apple has big expansion plans for India - plans that are now being frowned upon by US President Donald Trump. Currently, Apple does not manufacture iPhones in the United States, but Trump wants that to change. Trump has made it clear to Apple CEO Tim Cook that he has a ‘problem’ with US tech giant 'building all over India’.The majority of iPhone production occurs in China, whilst facilities in India make approximately 40 million units annually. That’s roughly 15% of Apple's total production. Trump on Thursday revealed that he asked Apple CEO Tim Cook to stop iPhone manufacturing in India and relocate production to the United States.Trump said, "I had a little problem with Tim Cook yesterday. I said to him, […]

[ad_1] US markets showed slight gains in trading on Friday, continuing their recent upward momentum. With minimal news driving trading, market participants awaited the latest updates on consumer sentiment and inflation. The Dow Jones Industrial Average edged lower by 37.71 points to 42,285.04 (-0.09%), while the Nasdaq Composite rose 31.66 points to 19,143.98 (+0.17%) at the initial minutes of trading. The S&P 500 posted a modest gain of 3.34 points, or +0.06%, to 5,920.27.In commodities, gold prices fell sharply by 1.49% to $3,178.40, while oil rose 0.73% to $62.07 per barrel, buoyed by expectations of tighter global supply. The US 10-year Treasury yield declined to 4.394%, down 0.061 points, indicating increased bond buying amid inflation and policy uncertainty. The CBOE Volatility Index (VIX) slipped by 1.18% to 17.62, reflecting relative calm in equity markets. On the currency front, the euro […]

[ad_1] Gopichand P Hinduja (Image credit: Hinduja website) Gopi Hinduja and his family retained their position as Britain’s wealthiest, according to The Sunday Times Rich List, despite a drop in their overall fortune. The Hinduja family's net worth now stands at £35.3 billion, down from £37.2 billion the previous year.Gopichand Hinduja, who belongs to the second generation of the family, took over as chairman following the death of his elder brother Srichand in May 2023.Who is Gopichand Hinduja?Gopichand P Hinduja, widely known as 'GP' in business circles, serves as the chairman of both the Hinduja Group and Hinduja Automotive Ltd in the UK.GP began his journey in the family business in Mumbai in 1959, playing a crucial role in transforming the Group from a traditional Indo-Middle East trading enterprise into a global, multi-billion-dollar conglomerate.Under his leadership, the Group acquired Gulf […]

[ad_1] Hyundai Motor India Ltd (HMIL) on Friday reported a 4% decline in its consolidated profit after tax (PAT) to Rs 1,614 crore for the fourth quarter ended March 31, 2025, attributed to lower sales in the domestic market.The automaker had reported a PAT of Rs 1,677 crore in the same period last fiscal.Despite the dip in profit, the company’s total revenue from operations rose to Rs 17,940 crore in Q4 FY25, up from Rs 17,671 crore in the corresponding quarter of 2023-24, HMIL said in a regulatory filing as reported by PTI.Domestic sales dropped to 1,53,550 units in the March quarter, compared to 1,60,317 units in the same period of the previous fiscal. However, exports grew to 38,100 units during the quarter, up from 33,400 units a year ago.For the full fiscal year 2024-25, Hyundai reported a consolidated PAT […]

[ad_1] The company's shares dropped by 222 points (10%) to TRY 2,002 on May 16, continuing a substantial downward trend. (AI image) Celebi share price crash after India ban: Celebi Hava Servisi AS shares plunged in trade on Thursday with a significant 10% decline on the Istanbul Stock Exchange following the Indian authorities' withdrawal of security clearance for its Turkey firm's Indian unit, Celebi Airport Services India. The decision was announced by India's Bureau of Civil Aviation Security (BCAS) the previous day, with immediate implementation, based on national security considerations.The immediate implementation of the BCAS directive signals PM Narendra Modi's stance that countries supporting Pakistan will face economic consequences. The decision follows Pakistan's use of Turkish-manufactured drones to target Indian cities during Operation Sindoor.The company's shares dropped by 222 points (10%) to TRY 2,002 on May 16, continuing a substantial […]

[ad_1] A United Nations report projects India's economic growth to moderate to 6.3% in 2025, a slight decrease from previous forecasts, but still among the fastest-growing globally, driven by strong consumption and government spending. While exports face potential challenges from US tariffs, stable employment and declining inflation are expected. Globally, economic prospects are fragile due to trade tensions. India’s economic growth is expected to moderate to 6.3% in 2025, down from 7.1% this year, according to a United Nations report released on Thursday.“Despite a projected moderation, India remains one of the fastest-growing large economies, supported by resilient consumption and government spending,” it said.India's economy is now expected to grow by 6.3 per cent in 2025, a slight downgrade from the 6.6 per cent forecast made by the UN earlier in January. Growth is projected to edge up to 6.4 per […]

[ad_1] Gold appears vulnerable to further downside in the immediate term. (AI image) Gold price prediction today: Gold prices have been volatile in the last few days amidst geopolitical uncertainties. Where are they headed and what should investors do - buy, sell or hold gold? What gold rate levels should you watch out for? Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities explains:Gold Market Overview:MCX Gold June 2025 contract is displaying bearish technical patterns after forming a lower high at ₹93400 levels. The precious metal has recently completed a V-shaped recovery from its lows of ₹91600 but appears to be facing strong resistance at current levels. The price action suggests exhaustion in the recovery rally, presenting attractive sell opportunities for intraday traders. Technical AnalysisCurrent price: ₹93239 Key Technical Indicators:Bollinger Bands: Price has approached the upper band and […]