FUTURE GROUP
Adani Group expands aviation reach with ?400 crore acquisition of Air Works Group
Adani Defence Systems & Technologies Ltd bought a majority stake in Air Works. The deal is worth ?400 crore. Air Works is India's top private aircraft maintenance company. It services many Indian and international airlines. Adani Group now operates seven airports and a major MRO. This strengthens Adani's position in the Indian aviation sector.
India considers exempting gift vouchers from GST; Council to discuss key issues
The GST Council is contemplating exempting gift vouchers from GST and reducing tax rates on insurance premiums. They are also considering an 18% GST on used cars, including electric vehicles, and a potential 35% slab for sin goods. However, states have differing views on these proposals, requiring further discussion.
Quad working group explores use of defence assets for logistics, HADR
The Quad maritime security working group recently met virtually to discuss utilizing member countries' defense assets and expertise for maritime logistics, humanitarian aid, disaster relief, training, and domain awareness. The group aims to ensure rapid response to natural disasters in the Indo-Pacific region, including pre-positioning relief supplies.
The Oberoi Group launches employment and skill development programme RISE
The Oberoi Group launched the RISE program to offer training and hospitality careers to 1,800-2,000 young people annually by 2025. The program celebrates 90 years of the group's commitment to talent development, providing education and experience in various hotel operations. Trainees will receive mentorship, hands-on experience at Oberoi hotels, and remuneration, fostering growth within the hospitality sector.
Gautam Adani launches new renewable energy brand campaign
Adani Group's new campaign, "First the fan will come, then electricity will come," highlights the transformative power of renewable energy in rural communities. Through a moving story, the ad underscores the company's commitment to clean energy and its positive social impact. With ambitious goals, including developing 50 GW of renewable energy by 2030 and establishing the Khavda Renewable Energy Park in Gujarat, the Adani Group is a leading player in India's green energy future.
6 tips to stay employable in constantly evolving markets
To thrive in today's rapidly evolving job market, prioritize lifelong learning, embrace technology, and build a strong professional network. Cultivate transferable skills, monitor industry trends, and diversify income streams to remain adaptable and resilient amidst change.
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Softbank eyes $100 billion investment in US projects over next 4 years
Trump announced the planned investment Monday at his Mar-a-Lago resort with Son at his side, along with Howard Lutnick, head of investment bank Cantor Fitzgerald and Trump's pick for commerce secretary.
ET Awards for Corp Excellence: Punters betting on India's - and the world's - future
The ET Awards for Corporate Excellence jury, chaired by Mukesh Ambani, met at the St. Regis Mumbai. Kumar Mangalam Birla and the Aditya Birla Group saw multiple wins. Ashwini Vaishnaw and Venu Srinivasan were also honored, reflecting a celebration of business leadership and innovation.
Narayana Murthy defends 70-hour work week again, explains how India can overcome poverty
Narayana Murthy, co-founder of Infosys, has once again defended his stance on a 70-hour workweek, emphasizing the importance of hard work for India¡¯s progress. Speaking at the Indian Chamber of Commerce's centenary event in Kolkata, he urged young Indians to set high aspirations and work diligently to help lift the country out of poverty. Murthy highlighted the need for job creation and compassionate capitalism to build infrastructure and create wealth.
Narayana Murthy explains how India can overcome poverty with 70-hour workweek
Narayana Murthy, co-founder of Infosys, has once again defended his stance on a 70-hour workweek, emphasizing the importance of hard work for India¡¯s progress. Speaking at the Indian Chamber of Commerce's centenary event in Kolkata, he urged young Indians to set high aspirations and work diligently to help lift the country out of poverty. Murthy highlighted the need for job creation and compassionate capitalism to build infrastructure and create wealth.
OPEC makes deepest cut yet to world demand forecast
The Organization of Petroleum Exporting Countries chopped projections for consumption growth in 2024 by 210,000 barrels a day to 1.6 million barrels a day, according to its monthly report. The cartel has slashed projections by 27% since July as it belatedly recognizes the deteriorating market picture.
Oil prices rise with all eyes on OPEC+ supply decision
Oil prices increased before a crucial OPEC+ meeting. Investors awaited the group's decision on production cuts. Middle East tensions also influenced market sentiment. Brent crude rose to $72.43 a barrel. US crude reached $68.70. OPEC+ considered extending cuts for three months. US crude stockpiles fell unexpectedly. Hezbollah's military strength was reportedly degraded. Trump's envoy worked on a Gaza ceasefire deal.
Lectrix EV looks to raise USD 100 mn to fund future growth
Lectrix EV, the e-mobility division of SAR Group, aims to secure USD 100 million in external funding within the next year to support its expansion. The company, having invested Rs 300 crore internally, plans to enhance its dealership network and establish charging infrastructure across 100 cities. Lectrix unveiled a new electric scooter, NDuro, to redefine urban navigation.
India, UK ink framework pact for development of electric propulsion systems for warships
India and the UK have signed an agreement to co-design and co-produce electric propulsion systems for future warships, reflecting their commitment to expand strategic cooperation. The Statement of Intent, inked by senior defence officials from both nations, focuses on developing propulsion capabilities for landing platform docks to be built in India.
Central Bank of India gets RBI nod to enter insurance biz through JV with Generali group
Central Bank of India received approval from the Reserve Bank of India to enter the insurance business. The bank will form a joint venture with Generali Group under FGIICL and FGILICL, offering a range of insurance products. This follows approvals from the Competition Commission of India and IRDAI.
Deceptive 'pro-Harris' manifesto tied to pro-Trump group
A conservative dark money group named Building America's Future, allegedly funded by Elon Musk, is behind Progress 2028, a fake manifesto misrepresenting Kamala Harris's policies. Researchers say the initiative's misleading narratives aim to divide Democratic voters in a closely contested election race.
Can Vizhinjam port change the future of India's global trade?
Vizhinjam, a former fishing village near Thiruvananthapuram, is transforming into India's first deep-water container trans-shipment hub. The project, supported by multiple governments and the Adani Group, aims to reduce India's logistics costs and create thousands of jobs. It will connect to global shipping routes, boosting Kerala's economy and the country's export capabilities.
India launches its latest nuclear submarine with 75% indigenous tech: Here's what the new S4 means for regional security
India launched its fourth nuclear-powered ballistic missile submarine (SSBN), designated S4*, at the Ship Building Center in Visakhapatnam. The move significantly boosts India's nuclear deterrence capabilities amid growing regional threats. The S4* submarine is equipped with advanced K-4 nuclear ballistic missiles and contains 75% indigenous content. Following the commissioning of INS Arighaat in August 2024, and with INS Aridhaman set to follow next year, India continues to focus on bolstering its maritime security, particularly in the Indo-Pacific.
Future of Work: Adaptability key for corporate success, says Volvo India MD
Volvo Group India MD Kamal Bali highlights the need for corporates to adapt swiftly to stay competitive as the future of work evolves. Technology, globalization, and changing workforce expectations will shape employment. KEA's continuous efforts have been pivotal in addressing labor issues and fostering industrial growth in Karnataka.
GoM on GST compensation cess holds first meeting: No new levies until future is decided
A group of ministers decided not to extend the GST compensation cess to new items until determining its future post-March 2026. The panel, led by Union minister Pankaj Chaudhary, will reconvene in November to deliberate on whether to continue the cess beyond repaying state-assisting loans or subsume it into the highest tax bracket.
GST Compensation Cess Future: Group of Ministers proposes merger with taxes
The GoM on GST discussed merging compensation cess with GST. States suggested no new items should be added during this transition. Compensation cess ends in March 2026. GoM will submit its report by Dec 31. The cess, which finances states' revenue loss, needs restructuring for its future integration into GST.
Gold prices flat as traders await fresh catalysts
Gold prices remained steady as traders anticipated new signals from the Federal Reserve regarding U.S. interest rate cuts. Fed Governor Christopher Waller called for caution on rate reductions, while President Neel Kashkari indicated potential further cuts. Investors are also eyeing upcoming U.S. economic data.
10 Inspiring Ratan Tata quotes to empower the future generations
Ratan Tata, the former chairperson of Tata Group, has passed away, leaving behind an impactful legacy marked by his visionary leadership and philanthropy. His ideology continue to inspire, emphasizing values such as kindness, resilience, and the importance of meaningful relationships over material gains.
Elon Musk funded right-wing political non-profit years before he endorsed Donald Trump, sources say
Elon Musk has been secretly funding the conservative group Building America's Future since 2022, contributing millions to support right-wing causes. The organization has criticized the Biden administration and progressive platforms and launched campaigns specifically targeting Vice President Kamala Harris.
SpaceMantra pulls out resolution plan for Future Lifestyle
SpaceMantra withdraws its ?490 crore bid for Future Lifestyle Fashions days before winning creditors' vote, citing delays and value erosion. Creditors, including lead lender SBI, face hurdles in recovery as the consortium fails to comply with payment obligations, risking only the ?2 crore deposit.
Bankruptcy court admits insolvency resolution plea against four Future Group affiliates
The bankruptcy court has admitted four Future Group companies, including Future Corporate Resources and Central Departmental Stores, under the corporate insolvency resolution process. The Mumbai bench of the National Company Law Tribunal appointed Avil Jerome Menezes as interim resolution professional. These companies defaulted on loans amounting to hundreds of crores, leading to their classification as Non-Performing Assets.
6G coming soon in India? Telecom minister Scindia meets Bharat 6G Alliance's working groups
Telecom Minister Jyotiraditya Scindia has initiated a meeting with the seven working groups of the Bharat 6G Alliance, signaling the future arrival of 6G in India. The minister emphasized that insights from this discussion will enhance the telecom sector, improve connectivity, and foster holistic development in line with Prime Minister Narendra Modi's vision for India as a telecom superpower.
NCLT admits Future Group affiliate Acute Retail Infra under the insolvency resolution process
The Mumbai bench of National Company Law Tribunal has admitted Future Group's Acute Retail Infra Pvt Ltd for Corporate Insolvency Resolution Process after defaulting on dues of over Rs 65 crore. Ramesh M. Shetty has been appointed as interim resolution professional, and the company's board of directors is suspended.
Reliance Retail and Clarks end joint venture in India
Reliance Retail and UK-based Clarks have ended their two-year partnership due to differences over terms. As a result, Clarks is closing its stores in India, including outlets in major cities. The brand's future plans in India remain uncertain as it explores new partnership options.
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