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The government has relaxed import restrictions on stainless steel, allowing the sale of certain products made from BIS non-compliant steel till December 31. This relaxation has been extended due to inadequate domestic production of these grades.The ministry has reasoned that stainless steel importers have made advance payments against their future orders, and the input material adherence order will disrupt their production.But domestic stainless steel manufacturers have in a recent interaction with the steel ministry expressed concern about the exemption since imports eat into their market share and also impact their ability to recoup capital investments. "The government should have a consistent policy. If they keep granting exemptions, we won't be able to recover our investments as substandard steel will keep flowing into the Indian market," said a person who attended the steel ministry interaction. The domestic industry has also flagged to the ministry the continuing im...

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The internationalisation of the Indian Rupees has already commenced with exporters invoicing in the local currency and it is likely to see a surge in the coming years as it becomes a primary vehicle to achieve developed economy status, said RBI Deputy Governor T Rabi Sankarat a media event in Mumbai.“When your currency is not commonly used or acceptable for global cross-border trades, that does not happen,” he said, adding that India needs to create the right conditions. “The number of invoices in rupees is going up, but it is still quite low. But we believe that if you create conditions, eventually you will reach a situation where people start doing that,” he added.He noted that it takes time for exporters and importers to shift their mindset and change invoicing practices.“One of the reasons advanced economies are what they are is because they can largely invoice in their own currencies. So, their businesses don't have to deal with that risk as much,” he said.He also stated that ...

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A federal judge in San Francisco on Tuesday indefinitely barred the Trump administration from firing federal employees during the government shutdown.US District Judge Susan Illston granted a preliminary injunction that bars the firings while a lawsuit challenging them plays out. She had previously issued a temporary restraining order against the job cuts that was set to expire Wednesday.Illston, who was nominated by Democratic President Bill Clinton, has said she believes the evidence will ultimately show the mass firings were illegal and in excess of authority.The Republican administration has slashed jobs in education, health and other areas it says are favoured by Democrats.The administration has also said it will not tap roughly USD 5 billion in contingency funds to keep benefits through the Supplemental Nutrition Assistance Program, commonly referred to as SNAP, flowing into November.The American Federation of Government Employees and other labor unions have sued to stop the ...

China's Foreign Minister Wang Yi on Tuesday talked up "high-level exchanges" in a call with Japanese counterpart Toshimitsu Motegi, hinting at a potential meeting between Chinese President Xi Jinping and Japan's new premier, Sanae Takaichi.Xi and Takaichi will attend this week's Asia-Pacific Economic Cooperation (APEC) summit in South Korea, offering a window for a meeting on neutral ground between the Chinese leader and a Japanese prime minister known for hawkish views towards China.Takaichi met with U.S. President Donald Trump on Tuesday, who welcomed her pledge to accelerate a military buildup and signed a series of deals on trade and rare earths.Beijing will be wary of the U.S. and Japan forging closer ties under Takaichi, analysts say, seeing it as a potential shift in the balance of power across the Asia-Pacific region.Be that as it may, "China has noticed several positive signals coming out of Japan's new cabinet," Wang said, without giving an...

The US Customs and Border Protection (CBP) has announced an extensive expansion of its biometric tracking system, mandating facial-recognition screening for nearly all non-US citizens entering or leaving the country. The decision, published in the Federal Register on October 27, allows the agency to photograph and record the facial data of foreign nationals at airports, seaports, and land crossings. The regulation will come into force 60 days after publication. According to the final rule, CBP will “implement an integrated biometric entry-exit system that compares biometric data of aliens collected upon arrival with biometric data collected upon departure.” The measure is intended to address concerns such as national security risks, fraudulent travel documents, visa overstays, and the detection of individuals without lawful admission. While CBP has previously gathered biometric data from certain foreign travellers, the latest rule significantly widens the scope. It also removes exempti...

US President Donald Trump signed a flurry of trade deals and framework agreements with Southeast Asian governments on Sunday as his sweep through the region began at a summit in Malaysia.Trump's first visit to Asia since his return to the White House in January appeared to alleviate some fears in a region already bruised by the trade war sparked by his sweeping tariffs. He also secured promises of greater cooperation on the key issue of rare earths as Washington scrambles to break China's stranglehold on materials that enable a wide array of modern technology.Rare minerals The US president inked two memoranda of understanding with Malaysia and Thailand, both seeking to "strengthen cooperation" on critical minerals.The deals, which lack specifics, come as the United States grapples with restrictions on rare earths exports imposed by China -- the world's top producer of the minerals crucial to the auto, electronics and defence industries.A separate trade deal signed...

New Delhi: India is firming up a new scheme-Pradhan Mantri Kaushal Mudra Yojana (PMKMY)- to fund skilling of the country's growing workforce, marking a major push to make financing a key part of the skills ecosystem. The scheme is likely to be announced in the upcoming Budget 2026-27 in February and could be spread over a five-year period. The scheme is the key component of a comprehensive financing model being firmed up by ministry of skills development and entrepreneurship, aimed at meeting the growing demand for workforce development in India while ensuring that resources reach all segments, including women, rural youth and persons with disabilities, ET has learnt. While details of the scheme size, target beneficiaries and mode of implementation are being finalized for consideration at the highest level, a senior government official aware of the deliberations told ET that the government funding is aimed at providing beneficiaries with broader access to both high-end government a...

Mumbai: The Indian unit of global streaming giant Netflix reported a 63% increase in net profit to ₹85 crore for FY25, according to its filings with the Ministry of Corporate Affairs (MCA), sourced from Tofler. Netflix Entertainment Services India LLP had posted a profit of ₹52 crore in the previous financial year.Revenue from operations grew 32% to ₹3,769 crore from ₹2,846 crore a year earlier, driven by strong subscriber additions through direct acquisitions and bundling partnerships with telecom operators.While Netflix does not disclose subscriber numbers, industry estimates place its base at around 20-22 million users across direct-to-consumer and bundled plans.Including other income of ₹73 crore, total income stood at ₹3,842 crore. Total expenditure rose 32% to ₹3,711 crore from ₹2,811 crore."Other expenses", which cover key operational costs such as content production, marketing and related expenses, increased to ₹3,616 crore in FY25 from ₹2,688 crore. Personnel costs d...

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New Delhi: US technology giant Google has leased 617,000 sq ft at Atrium Place Gurugram, a joint venture between DLF and Hines, in one of the biggest office space transactions of the year, two people familiar with the development said.The people did not disclose the duration of the lease or the financial details of the transaction.The deal follows a 550,000 sq ft lease by Google from managed workspace provider Table Space at a commercial complex in Gurugram. "Google has a big commitment to India, and to support that, it is expanding its office presence as well," one of the persons cited above said. "There is a long checklist before Google finalises a property, and only a few developers are able to clear that checklist." DLF and Google did not respond to email queries till press time Friday.Google had, in 2022, ended a lease for 700,000 sq ft in an office complex in Gurugram. The original agreement was signed in June 2020.According to Cushman & Wakefield, Delhi N...

Indian companies increased their reliance on the debt money market for their short-term working capital needs with the issuance value of commercial papers increasing to Rs 1.7 lakh crore in September, the highest monthly print since April.It marked a 44% jump from the value seen in August and a 34% year-on-year increase, data from the Reserve Bank of India (RBI) showed. This was despite the hardening of average yield on commercial papers in September. August saw a CP value of Rs 1.18 lakh crore while it was Rs 1.27 lakh crore in September last year.The trend is in line with the structural shift in fundraising among Indian companies.“Corporates are cash-rich, while they have access to debt and equity markets. They have multiple sources of funding,” ICICI Bank executive director Sandeep Batra said last week.The total flow of resources from non-bank sources to the commercial sector increased by Rs 2.66 lakh crore in 2025-26 till September, more than offsetting the decline in non-food bank...

An all-round performance from Annabel Sutherland and a record-breaking century by Ash Gardner helped Australia romp past England by six wickets at Indore in their ICC Women's World Cup fixture on Wednesday. With this win, Australia is at the top of the points table, having won five matches and drawn one, continuing their unbeaten run. England is in third with four wins, a loss and no result. Opener Tammy Beaumont's resilient 78 and some valuable contributions from Alice Capsey in lower order from Alice Capsey and Charlie Dean helped England reach 244.Australia won the toss and opted to bowl first. Amy Jones (18) started well with Beaumont, putting up a 55-run opening stand, but England crumbled to 166/6 in 39.1 overs, with Heather Knight (20 in 27 balls, with three fours) and Sophia Dunkley (22) unable to convert their starts into something big.Capsey (38 in 32 balls, with five fours) and Dean (26 in 27 balls, with three fours) put on a 61-run stand for the seventh wicket and t...

Eight years after restricting shrimp imports from India, Australia on Tuesday granted first import approval for unpeeled Indian prawns from Andhra Pradesh.After Trump tariffs hit Indian shrimp exports, Australia has granted conditional approval for a consignment. This is the first approval since January 2017 when Australia had banned unpeeled prawn imports from India after the detection of white spot virus in certain consignments. The decision has a direct impact on Andhra Pradesh, which accounts for 80% of India's shrimp exports and had been exporting about 70% of its shrimp to the US.Australia's decision to allow conditional import was announced by Andhra Pradesh IT and electronics minister Nara Lokesh, who is on a seven-day partnership tour to Australia. "A long-standing hurdle for Indian seafood exporters has been Australia's restrictions on unpeeled prawns due to white spot virus detection. Today, the first import approval for Indian prawns has been granted,"...

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A French prosecutor on Tuesday said that the financial damage from the audacious Louvre heist was estimated at 88 million euros ($102 million) after thieves made off with priceless royal jewels.Paris prosecutor Laure Beccuau told broadcaster RTL the museum's curator had estimated the losses at that amount but the thieves would not earn the equivalent if they had "the very bad idea of melting down these jewels". from Economic Times https://ift.tt/1x9yMKn

As Deepavali arrives, diyas glow across homes, their soft flames flickering gently at every doorstep. The air is scented with fresh flowers and sweet treats, and for a brief moment, the world seems calm and golden. Then, the quiet night bursts alive with the crackle of fireworks.For many of us, that sound feels inseparable from Diwali, signalling that the celebrations have truly begun. Yet, as the night fades, the sky grows hazy, the air thickens, and the morning feels harder to breathe.It makes one wonder: how did a festival meant to spread light and joy come to leave behind smoke and silence? When did firecrackers become part of this picture?For Indians, Diwali has always symbolised togetherness and the triumph of light over darkness. Just as many of us remember singing, “Ram ayenge toh angana sajayenge, deep jala ke Diwali main manaungi,” at its heart, Deepavali celebrates the return of Lord Rama to Ayodhya.So, how did fireworks find their way into this sacred festival?Their story b...

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Apple Inc. shares hit their first record of 2025 on Monday after Loop Capital upgraded the stock to buy from hold, becoming the latest firm to cite positive iPhone demand trends.Shares rose as much as 3.1% to $260.20, taking out an all-time high that had stood since December. Apple had been a high profile underperformer among S&P 500 Index stocks for much of the year, down as much as 31% at its worst point in April. But since then the iPhone maker has soared more than 50%, finally turning positive for the year in late September.The recent strength comes amid signs of stronger-than-expected demand for its latest iPhone lineup, adding to hopes that a long-awaited upgrade cycle could be underway. Over the weekend, an analysis from Counterpoint Research showed the iPhone 17 series outsold the iPhone 16 by 14% over their respective first 10 days on sale in the US and China.“We are now at the front end of Apple’s long-anticipated adoption cycle,” Loop analyst Ananda Baruah wrote in his u...

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Kolkata | Mumbai: There is a distinct preference for western and fusion wear that is seen outpacing ethnic fashion at the peak of India's festive season this year, when consumers typically show a penchant for traditional wear.Usually, the festive and wedding seasons between October and February are peak periods for traditional fashion. But growth in the ethnic segment has softened, with industry executives estimating sales are down 15-20% compared to last year. "Dresses, jumpsuits, and bandhgalas are replacing sarees and sherwanis at celebrations," said Devarajan Iyer, chief executive of department store chain Lifestyle International."There is a clear industry-wide shift in consumer preferences. From Diwali parties to celebrations, more people are opting for western wear over conventional ethnic outfits, leading to slower growth in the traditional category," he added. Companies said the demand shift is particularly noticeable among younger consumers and urban sh...

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What will the leadership playbook look like in an age marked by geopolitical upheaval and technological disruption? A power-packed panel at the Economic Times 40 Under Forty awards ceremony agreed that a blend of agility, empathy and uncompromising execution will help leaders adapt to a rapidly changing world.Fashion designer Masaba Gupta, who is part of the 2025 Class of 40 Under Forty, said leadership today requires "going back to the drawing board". Best practices, she argued, can sometimes become barriers. "You have to keep the agility of a young brand alive but execute faster," she said.When asked what modern leadership today gets wrong, Shuva Mandal, partner, Anagram Partners, said many businesses remain "tone-deaf" to changing realities, both inside and outside their organisations. "What is the pulse with the community, with your people? Too often, people only want to hear what they want to hear. The bracket of those who genuinely welcome advic...

Over half a dozen mid-sized consumer companies are in talks with private equity firms, venture funds or family offices, to raise fresh funds for expansion, buoyed by increased deal activity and positive consumer buying sentiment after two years of slowdown. Wingreens Farms, Curefoods, Chitale Bandhu, Baker's Dozen and Wow! Momo are among the firms in the process of fundraising to dilute minority equity of 10-15%, people aware of the matter said."We're seeing a clear resurgence in investor interest across the Indian consumer space-particularly in mid-sized, founder-led brands that have built real customer loyalty, but need growth capital to scale distribution and marketing," said Siddharth Bafna, partner and head, corporate finance at accounting and consulting firm Lodha & Co.Private equity firms such as A91 Partners, Amicus Capital Partners, Xponentia Capital and Kedaara Capital are leading the funding in the mid-sized companies, according to executives at the fir...

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After backlash from the Opposition and criticism over losing investments to Andhra Pradesh, DMK-led Tamil Nadu government has postponed the move to introduce a bill in the ongoing assembly session to ban the use of Hindi language in hoardings, boards, print advertisements, films and songs throughout the state.Chief minister MK Stalin had decided to introduce the bill in the state assembly, according to people familiar with the matter, as the government had resurrected the politically potent issue of Hindi imposition ahead of next year’s assembly election. The decision was taken after Stalin’s meeting with legal experts late on Tuesday night, the people said, adding that the move was aimed at sending a signal to the Centre.However, the government came under severe criticism from the BJP as the move came at a time when Andhra Pradesh bagged Google's $ 15 billion investment in data centre cluster in Vizag. Former state BJP chief K Annamalai posted on X, "AP CM: Signed a landmark ...

India's unemployment rate edged up to 5.2% in September from 5.1% in August, with a higher increase in rural areas than urban, official data released Wednesday showed.Rural unemployment rate rose to 4.6% in September from 4.3% in August, with male and female unemployment rate rising to 4.7% and 4.3%, respectively, according to the Periodic Labour Force Survey (PLFS) data released by the ministry of statistics & programme implementation (MoSPI).In urban areas, the jobless rate rose to 6.8% from 6.7%, with male and female unemployment increasing to 6% and 9.3%, respectively. 124587826 Overall, male unemployment increased to 5.1% in September from 5% in August and female unemployment to 5.5% from 5.2%.The figures reflect individuals aged 15 and above who were unemployed but actively seeking work. The data is based on the current weekly status (CWS), which considers whether individuals worked or looked for work in the seven days preceding the survey. Youth unemployment (15-29 years...

The Gem & Jewellery Export Promotion Council (GJEPC) will soon meet silver jewellery exporters and retailers to take stock of silver scarcity before raising the issue with the government, as the shortage could impact India's silver jewellery exports.Silver prices surged ₹6,000 to hit a lifetime high of ₹1,85,000 per kg (inclusive of taxes) Tuesday, in the run-up to the festive and wedding season.Silver prices have soared by ₹95,300 or 106.24% in the current calendar year."There is a tremendous shortage of supply, which will impact our exports of silver jewellery. We are speaking to stakeholders and will shortly call a meeting of silver jewellery exporters and retailers," said GJEPC chairman Kirit Bhansali.India's provisional export of silver jewellery was up 17.43% on-year at $596.41 million in the first six months of the current fiscal year.Silver's industrial use is in high-end tech, electronics, solar panels and batteries. In September, the US added silver ...

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Volkswagen Group has revived discussions with Sajjan Jindal-led JSW Group for a potential joint venture in India, said people aware of the development. This comes as the European auto maker’s proposed alliance with Mahindra & Mahindra appears to have stalled. The two sides have held several meetings over the past three to four weeks to explore ties, said the people cited.VW Group is home to brands such as Skoda, Audi, Porsche and Bentley. VW Group’s India strategy is led by Skoda.Under the proposed terms, JSW would steer local operations through mobility arm JSW Auto while leveraging technology and product platforms from both VW and SAIC Motor, the Chinese parent of MG Motor India, with which the Jindals are already allied.Discussions remain at an early stage, with the commercial structure yet to be finalised, the people said. JSW Group didn’t respond to queries. Local unit Skoda Auto VW India declined to make any specific comment.124559228VW Scouting for Local Partner from Econo...

Mumbai: Tata Capital, the non-banking finance arm of the Tata Group, made a modest market debut with the stock listing at ₹330 on Monday, a 1.2% premium to the IPO price of ₹326. The muted opening was in line with expectations and the broader trend of various large IPOs struggling to make a strong market entry in recent years, unlike some of the smaller peers.The stock ended at ₹331.1 on Monday with a market capitalisation of ₹1,40,547.61 crore. The company's revenue in FY25 stood at ₹28,324 crore.The market cap of Bajaj Finance, the country's largest NBFC, was ₹6,46,516 crore on Monday. Its FY25 revenue was ₹69,709 crore.124540527Many analysts had recommended against subscribing to the IPO - the largest in 2025 - citing rich valuations. "At its IPO price, Tata Capital's valuations left limited value on the table for those looking for a listing day pop," said Raj Gaikar, research analyst at Samco Securities. "The stock is likely to remain largely range-bound ...

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The Bombay High Court has granted an interim stay in a case challenging the levy of 18% goods and services tax (GST) on restaurant services located within hotels where the room tariff exceeds ₹7,500 per day. This follows a petition in the court's Aurangabad bench challenging the validity of the GST rate notification that links the tax on restaurant services to hotel room tariff.The high court has issued notices to the Centre, the Maharashtra government, GST Council, and other state authorities. The matter is slated to be heard next on November 19.Under the current GST structure, standalone restaurants are taxed at 5%. However, when the same restaurant operates within a hotel whose room tariffs cross ₹7,500, the applicable GST rate jumps to 18%. This differential treatment, according to the petitioner, is arbitrary, irrational and commercially unjustified, especially when the restaurant caters to walk-in customers who are not hotel guests.Appearing for the petitioner, advocate Abhis...

China signalled Sunday that it would not retreat in the face of President Donald Trump's 100% tariff threat, urging Washington to resolve disputes through dialogue rather than intimidation."China's stance remains consistent," the Commerce Ministry said in an online statement. "We do not seek a tariff war, but we are not afraid of one."It marked Beijing's first official response to Trump's warning that he would raise tariffs on Chinese imports by Nov. 1 in retaliation for new Chinese restrictions on exports of rare earths, critical materials used in a wide range of consumer and defence technologies.The escalating exchange threatens to derail a potential meeting between Trump and Chinese leader Xi Jinping and undo a fragile truce in a trade war where tariffs from both sides briefly topped 100% in April. Since taking office in January, Trump has raised import taxes on several major U.S. trading partners, seeking to extract concessions. China, however, h...

Every social observer worth their moth-eaten notepad keeps a sepia-tinted document with two axioms scribbled on top: Bollywood and cricket. These are not simply entertainment forms. They are parallel mythologies that have grown into each other like two intertwined banyan roots. Cinema borrows cricket’s swagger. Cricket borrows cinema’s stardust. One gives drama. The other gives storyline.Together they have built India’s only two dependable mass spectacles. Everything else—hockey, football, kabaddi, kho-kho, athletics—has existed at the edges of this light, basking in the reflected glow of the marquee.NATION OF PUNDITS, NOT PLAYERSWe are not, if we are honest, a nation of sportsmen. We are a nation of sports-discussing pundits. A billion selectors, fluent in strike rates and field placements, armed with post-factum wisdom. Cricket is built for this temperament. Its pauses invite pontification. Its statistics seduce the amateur analyst. Its rivalries keep conversations alive in living ro...

Namibia came up with a breathtaking performance to stun South Africa by four wickets in a last-ball T20I thriller, notching a historic maiden win against the ICC full member here on Saturday. Playing their first international match on home turf, at the Namibia Cricket Ground, they restricted the Proteas to 134 for eight. The hosts then earned a hard-fought victory on the last ball of their innings, which was followed by a lap of honour. Namibia, an ICC Association member, had never played an international match against South Africa in any format prior to this T20I. But, after their dream of owning a cricketing facility in their home country came true earlier on Saturday, they found added motivation to beat a second-string Proteas side led by Donovan Ferreira. The main South African side, led by Aiden Markram, is currently in Pakistan for a two-Test series, which will be followed by six white-ball games. South Africa were reduced to 68/5 despite the presence of stalwarts like Quinton de...

New Delhi: The NITI Aayog has proposed a series of reforms in the Income Tax Act, 2025 including decriminalisation of 12 minor infractions, removal of excessive mandatory minimum sentences and reducing the overall terms of imprisonment to make India's tax administration more predictable and less coercive.The Aayog also recommended shifting of proof of burden from taxpayers to tax authorities."Decriminalisation, rationalisation of punishments, and emphasis on proportionate sanctions will collectively align India's income-tax law with the vision of a fair, accessible, and modern compliance regime," the Aayog said in its Tax Policy Working Paper Series - II: Towards India's Tax Transformation: Decriminalisation and Trust-Based Governance, released on Friday.The focus is on driving a transition from coercive compliance to a model that empowers taxpayers, differentiates between error and fraud, and deploys the criminal law only when vital public interests are at stake....

Israeli Prime Minister Benjamin Netanyahu's office said on Friday that the government had "approved the framework" of a hostage release deal with Hamas, as both sides edged closer to ending more than two years of hostilities in Gaza.Israel previously said "all parties" had signed the first phase of a ceasefire agreement, adding that Hamas freeing the captives would "bring the end to this war".The accord in Egypt follows a 20-point peace plan for Gaza announced last month by US President Donald Trump, who said he planned to leave on Sunday for the Middle East.Egypt is planning an event to celebrate the conclusion of the deal, with Trump also expected to stop in Israel and consider going to devastated Gaza.The Israeli government had said the ceasefire was to take hold within 24 hours of meetings on Thursday to approve the deal, under which the military should eventually withdraw from Gaza.And in a statement early on Friday, Netanyahu's office said th...

Kolkata: Chinese smartphone maker Vivo Mobile India has said in a regulatory filing with the Registrar of Companies (RoC) that it expects to continue as a "going concern" and manage capital to be financially solvent. The development comes at a time when the company's auditors have flagged concerns in RoC filings over Vivo's ability to be a going concern due to multiple regulatory actions against the company.Vivo, which was the country's largest smartphone maker in the April-June quarter as per researcher IDC India's latest data, said it will maintain "optimal capital structure to reduce cost of capital"."The group manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders. The capital structure of the group is based on management's judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investor, customer, creditors and market confidence,...

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New Delhi: Packaged goods maker Dabur on Tuesday said it faced "short-term moderation in sales" in the September quarter on account of tax cuts.The maker of Real juice and Vatika shampoo said the moderation was because consumers deferred buying as they awaited goods and services tax -linked price cuts. Distributors and retailers, too, focused on liquidating existing higher-priced inventory, the company noted in its quarter update.At a consolidated level, Dabur said it expected revenue to grow in the mid-single digits and operating profit to grow almost in line with revenue.The company said the brands that were not impacted by GST cuts, such as honey, Anmol Coconut Oil, Gulabari and Hajmola Zeera, performed well."Retail offtakes continued to be resilient, enabling us to sustain market share gains in over 90% of our portfolio," it said."Dabur's key categories like oral care, juices, hair oils, shampoo, digestives, OTC, branded ethicals and culinary, which rep...

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The Indian Railways will investigate the feasibility of accommodating both railway and vehicular traffic in tunnels for which alignments are yet to be approved, officials familiar with the matter told ET.The Centre believes this will enable better use of underground space, particularly in densely populated or geographically constrained areas, they said.The Railway Board, according to the officials, has requested compliance from all executing agencies within the railways during the alignment finalisation and detailed project report (DPR) stages for the rail and road tunnel projects.Proposals for these projects will be submitted to a joint working group (JWG) consisting of representatives from the ministry of roads and the railways.124325392"These measures are expected to reduce land acquisition costs and streamline construction costs," a senior official told ET, pointing out that harmonising planning, design, construction and operational strategies for both modes of transport ...

Vehicles without functional FASTags will be charged only 1.25 times of the applicable user fee if they pay by Unified Payment Interface (UPI) against twice the fee if cash is used in the transaction.The decision incentivises digital payments and is aimed at minimising cash transactions at the user fee plazas on the national highways. As per the amended National Highways Fee (Determination of Rates and Collection) Rules, 2008, vehicles entering a fee plaza without a valid, functional FASTag will be charged only 1.25 times the applicable user fee for that category of the vehicle if they opt to pay via the UPI, the ministry of road transport and highways said on Saturday. This will be effective from November 15. "This amendment aims to strengthen the fee collection process, enhance transparency in toll collection and promote ease of commuting for the national highway users," it said. from Economic Times https://ift.tt/6WUcj3e

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The Maharashtra Housing and Area Development Authority (MHADA) has approved a key policy change to make redevelopment projects under its Mumbai Board more viable by revising the method of calculating premium charges on commercial floor space.The decision, taken at a recent MHADA authority meeting, modifies provisions of an earlier June 2007 resolution. Under the earlier rule, housing societies or developers redeveloping buildings in MHADA layouts and seeking additional commercial space were required to pay premiums calculated at 1.5 times the residential rate, with a minimum levy of 60% and a maximum of 142.5%. Developers had long argued that this mechanism made projects financially unviable.Realty developers had represented to MHADA that the "1.5x rate" imposed an undue burden on projects, slowing down redevelopment in MHADA layouts. The association pointed out that Regulation 33(5) of the Development Control and Promotion Regulations (DCPR) 2034 did not provide for separate...

New Delhi: The government has launched an exercise to assess the need for a standalone trade secrets law in India to protect unpatented inventions. At present, there is no specific trade secrets law in the country, and rights are enforced through the provisions of the Indian Contract Act, 1872.The commerce and industry ministry is holding stakeholder consultations on issues such as whistleblower protection and ease of doing business in trade secrets, officials said."We have completed one round of consultations with stakeholders and received mixed responses. Many issues relating to ease of doing business were raised," said an official.The discussions focused on the specific types of technical information requiring protection, whether existing laws are sufficient, insights from jurisdictions with dedicated trade secrets laws, and enforcement challenges or precedents from Indian courts.The exercise follows the Law Commission's proposal of a Trade Secrets Bill, 2024, which de...

MUMBAI: Franchise films and sequels, once billed as sure-shot insurance against fickle audiences and shrinking theatre turnouts, are increasingly backfiring in India, with many high-budget releases struggling to generate buzz and failing to recover their massive investments.In the first nine months of 2025, at least 10 big-ticket franchise films and sequels hit theatres, but most stumbled at the box office.Among the biggest disappointments were Jolly LLB 3, Baaghi 4, War 2, Dhadak 2, Son of Sardar 2 and Housefull 5. War 2-part of Yash Raj Films' ambitious Spy Universe-managed collections of just ?236.55 crore in India against a production budget estimated between ?300-400 crore, according to box office tracker Sacnilk.Industry experts say the problem is that Bollywood builds its franchises as forced extensions rather than carefully thought-out universes."Hindi franchise films are not planned organically like Cinematic Universe films in the West. These films are made as an ...

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Czech billionaire Daniel Kretinsky has agreed to sell his 20% stake in Thyssenkrupp's steel unit and scrap plans for a joint venture for the business, both parties said in a joint statement, paving the way for a possible deal with Jindal Steel. The sale ends protracted talks over what could have become a German-Czech steel and energy giant, discussions that have not made any measurable progress since Kretinsky bought a fifth of Thyssenkrupp Steel Europe (TKSE) last year. Kretinsky has already given up his seat on TKSE's supervisory board, along with another senior executive of his EP Group, a company spokesperson said. Shares in Thyssenkrupp rose as much as 3% to hit their highest level in nearly six years before trading 0.7% lower at 1208 GMT. CLEAR PATH FOR TALKS WITH JINDAL STEEL It now creates momentum for Thyssenkrupp to intensify talks with India's Jindal Steel International, which last month submitted an indicative bid for all of TKSE, a volatile business its parent ...