Business

[ad_1] MUMBAI: Reliance Industries withdrew its application to trademark "Operation Sindoor" - the codename for India's military strikes on terrorist infrastructure in Pakistan - on Thursday after facing social media outrage.On Wednesday, RIL filed an application with India's patent registry under class 41, seeking to use the phrase for entertainment services like content creation, sporting activities, and live performances, shortly after India launched Operation Sindoor. The company blamed a junior executive from Jio Studios, its entertainment arm, for inadvertently filing the application without authorisation. RIL said it has no intention to trademark Operation Sindoor.The Communist Party of India posted on X: "After massive criticism and pressure, Reliance withdraws its application for the Operation Sindoor trademark. But why blame a junior functionary for what is the trademark of profit before all else?"After RIL's initial move, three more parties also filed for […]

[ad_1] BENGALURU: Ajoy Chawla will take charge as Titan's new managing director, effective Jan 1 next year. The current MD, CK Venkataraman's term, will conclude on Dec 31 this year, adhering to the Tata Group's retirement guidelines upon reaching superannuation age.Since becoming CEO of Titan's jewellery division in 2019, Chawla has led the division to significant achievements, with sales and profits expanding by 2.5 times, while consolidating its market leadership position.Chawla's appointment as MD awaits shareholder approval. The company will complete the formal procedures for his board induction and managing director appointment in due course. The selection of his successor for the jewellery division will be taken subsequently. Venkataraman stated, "On behalf of the entire Titan team, I welcome Ajoy to lead Titan in its next phase of innovation and growth. With his strong customer obsession, people orientation, partnering impulse […]

[ad_1] Mumbai: RBI has eased investment restrictions for foreign portfolio investors in the corporate debt market. This move is likely to deepen market liquidity and align India more closely with global capital flows. RBI announced it will remove both the short-term investment cap and the concentration limit that previously applied to FPIs investing through the general route.Under the earlier framework, FPIs could only invest in corporate bonds with a residual maturity of more than one year. Their holdings were also capped at 50% of any single issuance, with tighter limits based on investor type.These constraints, designed to mitigate concentration risk and discourage speculative flows, did not apply to the voluntary retention route, a separate channel with lock-in conditions.The removal of these restrictions grants foreign investors greater freedom to deploy capital tactically. FPIs can now hold a larger share of individual […]

[ad_1] BENGALURU: Netherlands-based global tech investor Prosus invested over $8.6 billion in India, making it one of its strategic markets, CEO Fabricio Bloisi said in a letter to shareholders on Thursday.The update follows Swiggy's IPO last year and a recent investment in the ride-hailing platform Rapido, which Bloisi said is growing over 100% year-on-year and facilitating more than 3 million rides per day."India presents Prosus with incredible opportunity," Bloisi wrote, noting the region's role in the group's ambition to build the leading lifestyle e-commerce ecosystem across India, Europe, and Latin America. Prosus' e-commerce segment outperformed internal expectations in the financial year ended March, with adjusted EBIT (aEBIT) surpassing $435 million - above the $400 million target set earlier. The company is now aiming to deliver a similar level of incremental profitability in FY26.Key portfolio companies delivered strong results. OLX, one […]

[ad_1] MUMBAI: Urban consumption, which has been under pressure on the back of high inflation that pushed consumers to cut back on spending, "decelerated" further in the March quarter, weighing on the volume growth of companies, NielsenIQ said in its quarterly FMCG snapshot on Thursday.Rural demand boosted spending on lotions, shampoos, and detergents, even as high edible oil prices slowed demand for staples."In Q1 2025, rural consumer demand grew at a slower pace compared to Q1 2024, yet it remained four times faster than growth in urban areas, where consumption further decelerated," analysts at NIQ said. Rural volumes grew at 8.4% during the quarter, while urban lagged at 2.6%. Urban volume growth stood at 4.2% in the preceding quarter and 5.3% a year ago.The slowdown in urban volumes in the top eight metros was partly due to the growing shift […]

[ad_1] Microsoft co-founder Bill Gates has announced a new, faster timeline for giving away his vast fortune, highlighting artificial intelligence (AI) as a powerful tool to transform global health and save lives.In a major shift, the Bill and Melinda Gates Foundation will now spend over $200 billion in the next 20 years and shut down operations by 2045—well ahead of the previous plan to wind down 20 years after Gates' death.The announcement included criticism of fellow tech billionaire Elon Musk. Gates told the New York Times that Musk's severe cuts to the US Agency for International Development were linked to a missed social engagement, appearing to criticise Musk's conduct."People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them," Gates wrote, sharing a chart predicting […]

[ad_1] Global economic growth is set to slow in the coming months, with major economies such as the United States and China projected to experience notable deceleration. However, India is expected to outpace global peers amid this global downturn, according to a recent report by Kotak Alternate Asset Managers.The report forecasts a 90 basis point slowdown in the US economy and a 60 basis point decline for China, while highlighting that India is expected to maintain its position as the fastest-growing major economy.A key factor supporting India's economic resilience is its strong manufacturing performance, with the Purchasing Managers' Index (PMI) figures continuing to indicate positive momentum—setting India apart from many global counterparts.Despite mixed signals from high-frequency indicators, India’s overall macroeconomic outlook remains robust. Although credit growth and government expenditure have shown some moderation, the report points to other encouraging trends […]

[ad_1] In a surprising turnaround, India's agriculture exports have surged significantly, posting a 30% year-on-year growth on a 3-month moving average basis, according to a new report by SBI Mutual Fund.This marks a strong revival in export volumes and could signal a broader comeback for the sector that struggled with inconsistent growth in recent years.The report, which tracks agricultural export trends since April 2019, highlights that this recent momentum is not a one-off spike. After remaining subdued between mid-2022 and early 2024, export volumes have sharply picked up since December 2023, entering a consistent upward trajectory.In January 2025, agriculture export volumes grew by 39% year-on-year, followed by a still-impressive 15% in February. The sustained 3-month average of 30% suggests more than just seasonal demand—it points to a structural rebound in India's farm trade performance.The last time India saw such explosive […]

[ad_1] BENGALURU: Prosus has invested over $8.6 billion in India, making the country one of its most significant growth bets, CEO Fabricio Bloisi said in a letter to shareholders on Thursday.The update follows Swiggy’s IPO in late 2024 and a recent investment in ride-hailing platform Rapido, which Bloisi said is growing over 100% year-on-year and facilitating more than 3 million rides per day.“India presents Prosus with incredible opportunity,” Bloisi wrote, noting the region’s role in the group’s ambition to build the leading lifestyle ecommerce ecosystem across India, Europe, and Latin America.Prosus’ ecommerce segment outperformed internal expectations in the financial year ended March 2025, with adjusted EBIT (aEBIT) surpassing $435 million – above the $400 million target set earlier. The company is now aiming to deliver a similar level of incremental profitability in FY26.Key portfolio companies delivered strong results. OLX, one […]

[ad_1] US President Donald Trump and British Prime Minister Keir Starmer announced on Thursday a groundbreaking trade agreement with Britain, the first such arrangement since the implementation of global tariffs."This morning I am thrilled to announce that we have reached a trade deal with the UK. Today is the Victory Day for World War 2, we won the together exactly 80 years ago, so there could be no more perfect morning to reach this historic agreement," Trump declared during a White House press briefing.During simultaneous press conferences in Britain and Washington, Keir Starmer joined Trump via video link at the White House, describing the US-UK trade agreement as "a really fantastic, historic day."The agreement emphasises the importance of reciprocity and fairness in international trade relations and enhances access for American agricultural products, according to Trump, although he indicated that the […]