Business

[ad_1] BRESCIA: Commerce and industry minister Piyush Goyal on Thursday suggested an exclusive Italian enclave, complete with schools and hospitals, in one of the industrial towns as he sought to woo investors to set up businesses in the country.Goyal said the industrial town in Chhatrapati Sambhajinagar, where Maharashtra govt is eyeing an expansion over 5,000 acre, or proposed one near Dighi port could be dedicated for the purpose. Besides, he said Italian companies could decide to set up the enclave in other industrial towns that are coming up, including in South India and places such as Gaya."You can have all the social infrastructure so that your engineers, managers who come to India feel at home. You can have your own schools, hospitals, hotels and restaurants," he said, while addressing Italian companies here. In the past, govt has sought to woo […]

[ad_1] India and Italy on Thursday said a meeting will shortly be held in Mumbai to push forward India-Middle East-Mumbai Economic Corridor, which has been affected by the tension in West Asia. Commerce & industry minister Piyush Goyal said issues around financing and other aspects will be discussed. [ad_2] Source link

[ad_1] CHENNAI: Just three years after he was appointed MD of TVS Motor, 36-year-old Sudarshan Venu is all set to take over as chairman of the company. TVS Motor has announced that its board has "unanimously" named Sudarshan Venu as "incoming chairman of the company." Effective August 2025, Sudarshan Venu will be appointed CMD of TVS Motor. [ad_2] Source link

[ad_1] MUMBAI: The price of silver in India reached a new all-time high of Rs 1.05 lakh per kg on the MCX on Thursday, as prices in the international market hit a 13-year high. The rally was fuelled by strong investor demand, soft US economic data, a weakening dollar, heightened geopolitical tensions, and firm industrial demand. [ad_2] Source link

[ad_1] Tesla shares plunged over 8% on Thursday as tensions between US President Donald Trump and Tesla CEO Elon Musk escalated, leaving investors concerned about the future of Musk’s vast business empire. The sharp decline was triggered instead by a bitter public spat between the two high-profile figures. Musk criticised the president’s recent tax bill, describing it on his social media platform X as a “disgusting abomination” that undermines cost-cutting efforts led by the department of government efficiency (DOGE), a team Musk has been closely involved with. Trump retaliated by suggesting Musk’s anger stemmed from the bill’s removal of tax incentives for electric vehicle (EV) purchases, accusing Musk of souring their previously friendly relationship. “Look, Elon and I had a great relationship. I don’t know if we will anymore,” Trump said, quoted by Reuters. “He said the most beautiful things […]

[ad_1] Flipkart has received a lending licence from the Reserve Bank of India, paving the way for direct financing to customers, though the ecommerce firm is yet to disclose operational details.The Walmart-backed company confirmed on Thursday that it had secured a Non-Banking Financial Company (NBFC) licence from the RBI, with sources indicating the approval came in March, PTI reported.While Flipkart acknowledged the development, it did not offer details on how or when the NBFC arm would be operationalised. According to sources, the licence could enable the company to offer credit services such as EMIs or instalment-based financing directly to consumers on its platform. However, specifics of product rollout remain unconfirmed.Walmart currently owns over 80% of Flipkart, having acquired a majority stake in the company in 2018.The development comes shortly after Flipkart, which is preparing for a public listing, announced in […]

[ad_1] ECB President Christine Lagarde (AP) The European Central Bank lowered its key interest rate by 25 basis points on Thursday, citing growing uncertainty from US trade threats and slowing eurozone momentum.In its eighth consecutive rate cut, the ECB reduced its benchmark rate to 2%, down from a recent high of 4%, as policymakers attempt to cushion the eurozone economy from the fallout of renewed trade tensions and sluggish domestic demand.The rate-setting council’s decision, announced at the ECB’s Frankfurt headquarters, comes after US President Donald Trump imposed fresh tariffs on European goods and threatened to raise them sharply in the absence of trade progress. Analysts had widely expected a rate cut, but uncertainty remains over how far the central bank will go in future meetings.According to the Associated Press, ECB President Christine Lagarde told reporters that upcoming monetary policy moves […]

[ad_1] US stocks traded slightly higher Thursday as investors awaited key employment data, while fresh signals of labour market softness stoked expectations of a rate cut later this year.The S&P 500 rose 0.2% in early trading, while the Dow Jones Industrial Average was up 48 points, or 0.1%. The Nasdaq composite also gained 0.2%. Investors are focused on the US Labour Department’s monthly jobs report due Friday, which is expected to show that employers added 130,000 jobs in May — down from 177,000 in April.According to the Associated Press, markets were responding to early signs of weakening momentum in the labour market, along with uncertainty tied to President Donald Trump’s on-and-off tariff policy. Analysts say concerns over hiring slowdowns may prompt the Federal Reserve to cut interest rates later this year.Earlier this week, a report by payroll provider ADP showed […]

[ad_1] AI image means for representation only Silver prices surged past $35 per an ounce on Thursday, buoyed by currency weakness, industrial appetite and safe-haven flows, with analysts suggesting the rally may not be over yet.Silver prices crossed the $35 mark per ounce and hit their highest level since March 2012, lifted by a mix of factors including a weaker US dollar, geopolitical tensions and robust industrial demand, according to experts quoted by ANI."With the trust in dollar decreasing, silver appears to be a good avenue for money to move to, and the gold-silver ratio was recently above 1.10, so the only way forward was either silver prices rise or gold prices fall. And that’s what has happened — silver has risen far more than gold," said Mrinesh Jain, Director, Bombay Bullion Metal Hub LLP.The gold-silver ratio, which shows how […]

[ad_1] Indian equities are trading at undervalued levels and offer a promising opportunity for patient, long-term investors, Morgan Stanley said in its latest report “India Equity Strategy Playbook.”It highlighted that the stock market has continued to be resilient since September 2024, despite global headwinds. Investors have faced a series of challenges, including overvaluations in small and mid-cap stocks, a broad market correction, volatility from US tariffs, and ongoing geopolitical tensions. Yet, India’s large-cap indices remained within 5% of record highs."It will require patience, given the potential for bad news from outside India, but we believe rewards will come in time," the report said, signalling cautious optimism.It attributed this positive outlook to India’s strong macro stability: improving terms of trade, a declining primary deficit, and low inflation volatility.Morgan Stanley also projected a mid-to-high teens earnings growth annually over the next three […]