Top Business Highlights of the Week: Trade Deals, Market Rallies, and More
New Delhi, Jun 9 (PTI) Following are the top business stories at 2045 hours:
India-EFTA trade pact likely to be implemented from Sep: Goyal Bern: The free trade agreement (FTA) between India and the four-nation European bloc EFTA is likely to come into force from September, Commerce and Industry Minister Piyush Goyal said on Monday. This pact is expected to boost bilateral trade and investment, creating new opportunities for businesses in both regions.
Stock markets rise for 4th day on global rally, gains in banking shares after RBI rate cut Mumbai: Stock markets closed higher for a fourth consecutive day on Monday, driven by gains in banking and financial shares and a rally in global markets. The Reserve Bank of India (RBI) rate cut further fueled investor confidence, contributing to the positive momentum.
Silver soars Rs 1,000 to hit fresh peak of Rs 1.08 lakh/kg; gold falls Rs 280/10 g New Delhi: Silver prices soared Rs 1,000 to hit a fresh peak of Rs 1,08,100 per kilogram in the national capital on Monday, in line with firm global cues, according to the All India Sarafa Association. However, gold prices fell by Rs 280 per 10 grams, reflecting the volatile nature of precious metals.
SBI pays Rs 8,076.84 cr dividend to govt for FY25 New Delhi: The country's biggest lender, State Bank of India (SBI), on Monday paid a dividend of Rs 8,076.84 crore to the government for the financial year 2024-25. This significant payout underscores the bank's robust financial health and commitment to shareholder value.
Rupee rises 2 paise against US dollar Mumbai: The rupee appreciated 2 paise to close at 85.66 against the US dollar on Monday, supported by a firm trend in domestic equities and foreign capital inflows. The positive performance of the rupee is a positive signal for the Indian economy.
Govt approves Micron Semiconductor's proposal to set up SEZ New Delhi: The government on Monday approved the proposals from Micron Semiconductor Technology India and Hubballi Durable Goods Cluster (Aequs Group) for setting up SEZs for manufacturing of semiconductors and electronic components. This move is expected to boost the domestic semiconductor industry and create jobs.
Air India extends integrated self check-in, baggage drop facilities for passengers to Europe, Canada Mumbai: Private carrier Air India on Monday announced extending its integrated self check-in and baggage drop facilities for its passengers from India to all its destinations across Europe and Canada. This move aims to enhance passenger convenience and streamline the travel process.
Jaiprakash Associates insolvency: Lenders extend deadline to June 24 for submitting resolution plan New Delhi: Lenders of Jaiprakash Associates have extended the deadline for submission of resolution plan to June 24 on request of prospective bidders. This extension provides additional time for bidders to submit comprehensive plans, potentially leading to a better resolution outcome.
Sebi slaps Rs 3 lakh fine on Motilal Oswal Financial Services for violations of stock brokers' norms New Delhi: Markets regulator Sebi on Monday imposed a penalty of Rs 3 lakh on Motilal Oswal Financial Services Ltd for violating stock brokers' norms. This penalty is part of Sebi's efforts to ensure fair and transparent practices in the securities market.
Pay TV homes fall by 40 mn, 1.14-1.95 lakh job cut at local cable operators since 2018 New Delhi: The number of paid TV homes fell by 40 million to 111 million in 2024 from 151 million in 2018, leading to an estimated employment reduction of 1.14 lakh to 1.95 lakh by the local cable operators, according to a report. The decline in pay TV subscribers is attributed to the rise of streaming services.
Godrej's Tanya Dubash promoted realty firm buys apartment in Mumbai for Rs 226 cr Mumbai: Private real estate firm Shaula Real Estates, where the daughter of Godrej Industries Chairman Adi Godrej is a director, has purchased a duplex apartment in a luxury housing project at Worli in Mumbai for nearly Rs 226 crore. This high-profile purchase highlights the continued interest in luxury real estate in the city.
Govt eyes record foodgrain output in 2025-26 Kharif season on good monsoon forecast: Chouhan New Delhi: India is likely to achieve a new record in foodgrain production during the 2025-26 kharif season starting next month, buoyed by forecasts of above-normal monsoon rains, Agriculture Minister Shivraj Singh Chouhan said. A strong monsoon is crucial for the agricultural sector and the overall economy.
These business highlights provide a comprehensive overview of the key developments across various sectors, reflecting the dynamic nature of the Indian economy and its global engagement.
