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New Delhi: The number of Indians heading to Europe for higher studies increased significantly in 2025 from the previous year but fell in the US, mainly due to stricter visa rules, according to experts.Internal data from study abroad platforms, accommodation providers and financial services show that the number of students heading to the US in 2025 decreased by about 30% from 2024. In contrast, European Union destinations saw a sharp rise.Leverage Edu, an ed-tech platform, told ET that the EU saw a 62% year-on-year increase, with Germany, Italy, France, Ireland, Spain, Malta, and the Netherlands being the popular destinations for higher education. "Germany alone has nearly doubled year-on-year, while Italy and France have also seen strong 5-7x growth multiples," said Akshay Chaturvedi, Leverage Edu's founder and CEO.Experts said the India-EU trade pact signed earlier this week is likely to strengthen this trend.GyanDhan, a financing and study abroad platform, said it has r...

Mumbai: Airtel Africa said net profit jumped 24% year-on-year to $210 million in the quarter to December, largely on margin expansion. The company had reported a net profit of $169 million in the year-ago quarter. Revenue rose 33% on-year in reported currency terms to $1,685 million as compared with $1,268 million in the year-ago period."Disciplined execution on cost efficiency, alongside accelerating revenue growth, has enabled another sequential improvement in our quarterly EBITDA margin to 49.6%, underpinning constant currency EBITDA growth of 31%," Airtel Africa CEO Sunil Taldar said, adding "we remain focussed on driving further incremental margin improvements".The company continued its $100 million share buyback programme, completing the first $45 million tranche in April 2025 and returning $36.2 million through 14.6 million shares purchased in the second tranche as of December 31, 2025. Company statements said revised arrangements now include irrevocable inst...

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Indian professionals working in the US are facing major disruption as no new H-1B visa stamping dates appear to be available this calendar year. In several cases, new interview appointments are being pushed to 2027. Visa offices in Delhi, Mumbai, Chennai, Hyderabad and Kolkata currently show no regular interview slots. The US State Department website lists the waiting period for the next available appointment as “not available” for petition-based visas such as H, L, O, P and Q at multiple locations, including Delhi and Kolkata. Immigration experts say there is little chance of improvement in the near future. According to a TOI report, applicants who had interview dates scheduled for January and February have also received emails from US consulates stating that their appointments have been moved to April or May 2027. The backlog is building up as the Trump administration restructures the H-1B programme. On December 29, 2025, US Citizenship and Immigration Services published new rules fo...

Mumbai: JSW Infrastructure has outlined a ₹16,500-crore capital expenditure plan for FY27 and FY28.In an analyst call, India's second-largest port operator also said its operating Ebitda is expected to double by FY28 from FY26 levels as new port and logistics assets become operational.The JSW Group company said it is targeting consolidated operating revenue of ₹5,400 crore and operating Ebitda of ₹2,600 crore for FY26. "Building on this FY26 base, we anticipate Ebitda growth of approximately 15% in FY27 and expect it to double approximately by FY28," said Rinkesh Roy, joint managing director and chief executive officer of JSW Infrastructure.He clarified that the doubling is measured from FY26 levels.Roy said the guidance factors in the commissioning of port expansion projects and the transition of logistics investments from the capital expenditure phase to earnings contribution. FY28 will be a "landmark year in our expansion journey," he said in the earnings cal...

New Delhi: Banks want more deliberations on the expected credit loss (ECL) framework applicable to crop loans.Lenders have argued that the Stage 2 classification of crop loans should be linked to the crop season and pitched a classification similar to that of Kisan Credit Card (KCC) loans, which are linked to the agricultural crop cycle. "We have discussed this with other lenders, including private banks, and will make a representation to the Reserve Bank of India," said a bank executive aware of the developments. Under the proposed framework applicable from April 2027, a loan account will come under Stage 2 after it is 30-90 days past due.Banks had earlier argued that under existing norms, both SMA 1 and SMA 2 category assets require a 0.4% provision, but under the proposed ECL norms, they will be treated as Stage 2 assets, which require a lifetime probability of loss with a regulatory floor of 5%. "In the case of farm loans based on the crop cycle, there are frequent r...

Baghdad: Iraq's former prime minister Nouri al-Maliki is on the verge of a return to power despite having been forced out over a decade ago, accused of corruption, sectarianism and with the Islamic State group sweeping the country.Maliki was nominated on Saturday by the main bloc of Shiite parties in Iraq's parliament, which holds a majority, to become prime minister, effectively guaranteeing him the job. A central figure in Iraq's politics and its only two-term premier since the US invasion of 2003, the 75-year-old Shiite Arab has over the years managed to appease both Iran and the United States, becoming a powerbroker whose approval is considered indispensable to any governing coalition.A shrewd politician, Maliki spent nearly a quarter of a century in exile after campaigning against the autocratic rule of Saddam Hussein but returned to Iraq in the wake of the 2003 US-led invasion that toppled the longtime ruler. Maliki has since steadily increased his power and influence...

Kyiv: Ukraine and Russia ended a second day of US-brokered talks in Abu Dhabi on Saturday without a deal but with future meetings mooted after overnight Russian airstrikes that knocked out power for over a million Ukrainians amid subzero winter cold.Statements after the conclusion of the talks did not indicate that any agreements had been reached, but Moscow and Kyiv both said they were open to further dialogue. "The central focus of the discussions was the possible parameters for ending the war," President Volodymyr Zelenskyy wrote on X after the meeting."As a result of the meetings held over these days, all sides agreed to report back in their capitals on each aspect of the negotiations and to coordinate further steps with their leaders," he said, adding that further meetings could take place as early as next week.A UAE government spokesperson said there was face-to-face engagement between Ukraine and Russia - rare in the almost four-year-old war triggered by a fu...

New Delhi: Maruti Suzuki, Tata Motors, and Mahindra & Mahindra (M&M) are among India's top carmakers preparing to introduce more than 30 vehicles in 2026-highest in the last five years. The flurry of launches is expected to inject further momentum in the market, experiencing a demand spurt after tax cuts last year.Road ShowWhile Renault is set to take covers off the next generation Duster SUV on January 26, Maruti Suzuki will commence sales of its first electric vehicle, the e-Vitara SUV, next month.Notably, electric cars are poised to dominate the launch portfolio in the coming months, with Tata Motors introducing two new models, including the Sierra EV next quarter. Also, on the cards, are three new models from Vietnamese electric carmaker VinFast, two from Chinese EV maker Leapmotor-which in partnership with France's Citroen is set to foray into the Indian market later this year, and an electric SUV from Toyota Kirloskar Motor (TKM). 127325285 Overall, as many as 31 ...

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US President Donald Trump announced Thursday he will sue The New York Times for publishing an opinion poll that found steadily sliding support from voters for the Republican right-winger."The Times Siena Poll... will be added to my lawsuit against The Failing New York Times," Trump said on his Truth Social platform. "They will be held fully responsible for all of their Radical Left lies and wrongdoing!"The New York Times/Siena University poll published Thursday found only 40 percent of Americans approve of Trump -- in line with multiple other polls showing declining support a year into his second term. from Economic Times https://ift.tt/Z8biAFR

Davos: India has outpaced China as Carlsberg Group's most important growth engine, prompting the Danish brewer to accelerate investments, add capacity and push deeper into premium beers in one of the world's most complex markets."India is really a key market for us... it's now our key growth market. It's also a bigger growth market than China," Jacob Aarup-Andersen, Carlsberg's global chief executive, said in an interview with ET on the sidelines of the World Economic Forum in Davos. While China remains larger in absolute size, India "clearly holds the key position" for Carlsberg's future growth, he said.Carlsberg plans to invest ₹1,250 crore ($150 million) over the next couple of years, with "thousands of crores" more likely over the medium term as it seeks to scale profitably. At Davos, the brewer announced a ₹500 crore investment to set up a new brewery in Maharashtra, part of the broader capital plan in the country."We are ...

New Delhi: India is likely to clock real gross domestic product (GDP) growth of 6.5-7% in the coming fiscal, supported by the continuing growth momentum, though policymakers should remain mindful of the looming geopolitical risks and weak global demand, according to an ET-PwC survey.As per the survey, 78% of respondents expect India's growth to remain in the 6.5-7% band in FY27, reflecting optimism arising out of the current growth momentum, which the majority of CXOs described as strong to stable, while 21% expect it to be between 6% and 6.5%, and only 1% of the respondents foresee it in the 7-7.5% range.Official advance estimates project India's economy to grow 7.4% in FY26 compared with 6.5% in the last fiscal.127027656 More than half the corporate leaders saw geopolitical shocks as the biggest downside risk to FY27 growth outlook, followed by weak global demand, and almost a fifth pointed to trade uncertainties, according to the CXO study."CXOs are signalling strong mo...

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Silver crossed the ₹3 lakh per kg mark for the first time on Monday in the backdrop of the Trump administration's sudden move to slap tariffs on some European countries, seen as a geopolitical leverage to pressure them over selling Greenland to the US government.Supply-side concerns, weakening of the dollar and robust industrial and investment demand propelled demand for the metal, considered a safe haven asset.Brokerages advised investors to take a staggered approach with some caution towards silver as the precious metal is facing intense volatility.The view however remains bullish and any dip should be used as an accumulation zone, said Manav Modi, commodity analyst at Motilal Oswal Financial Services.According to Avinash Gupta, vice-chairman of All India Gem & Jewellery Domestic Council (GJC), high prices have slowed down the physical demand for silver. "Demand is down by 15%-20%," he said. "Rising geopolitical tensions thanks to US President Donald Trump are ...

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New Delhi: India’s capital is experimenting with EV retrofitting, but the country’s carmakers are not convinced. The Delhi government’s recent announcement of incentives to encourage electric vehicle (EV) retrofitting has opened a can of worms for India’s auto industry, with major carmakers expressing strong reservations even as startups and independent retrofitters remain excited to tap the opportunity.Under the policy, the first 1,000 vehicles retrofitted from internal combustion engines to electric powertrains will receive an incentive of `50,000. The initiative is aimed at reducing vehicular pollution by extending the life of older cars while transitioning them to cleaner propulsion.However, leading automobile manufacturers appear unconvinced. Industry executives, speaking on condition of anonymity, said EV retrofitting raises serious safety and technical concerns and is not comparable to earlier transitions such as CNG or LPG conversions. 126625552 ConcernsGlobally, only a few aut...

Mumbai: After a sweeping victory for the BJP-Sena's Mahayuti in the Brihanmumbai Municipal Corporation (BMC) elections in Maharashtra, Mumbai is witnessing power-play and hotel politics as Shiv Sena has moved all its newly elected corporaters in a hotel in Bandra, sources said.According to sources, the Shinde Sena is likely to demand the Mayor post in India's richest municipal corporation as it celebrates the centenary year of its founder, Bal Thackeray, as a befitting tribute to him on his 100th birthday on January 23.The undivided Shiv Sena had controlled the BMC for the longest time before the party split into two factions in 2022.The BMC elections saw the BJP-Shiv Sena alliance emerge as the single largest bloc, beating the Thackeray brothers. According to official figures, the BJP emerged as the largest party, winning 89 seats, while its alliance partner, the Shinde Sena, secured 29 seats. However, the discussions on the Mayor post cannot take place for any of the 29 munic...

Walmart announced a series of executive changes on Friday as John Furner prepares to take over as CEO of the world's largest retailer on February 1, replacing Doug McMillon.The moves aim to maintain the Bentonville, Arkansas-based retailer's growth momentum and bellwether position in the industry by promoting four longtime executives and expanding their responsibilities.David Guggina will become CEO of Walmart's largest division, Walmart U.S., replacing Furner in that role. Currently serving as chief e-commerce officer of Walmart U.S., Guggina has spent nearly eight years at the retailer in various positions, including executive vice president of supply chain operations. The U.S. CEO position is highly coveted, as Walmart typically promotes leaders from this division, which generates around two-thirds of its annual revenue, to the top corporate job.NICHOLAS TO LEAD WALMART INTERNATIONAL Walmart also promoted Chris Nicholas to CEO of its $100 billion Walmart International di...

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MUMBAI: The Reserve Bank of India (RBI) is expected to keep its repo rate unchanged in its February policy meeting as the central bank would likely wait for parameters that would determine inflation and growth prints in the new base-year series, economists said. This new series, which rolls out from next month, is expected to shift the growth-inflation dynamics as weights that constitute the consumption basket are expected to change to reflect the latest wallet shares of today's needs.The monetary policy committee (MPC) is set to meet February 4-6, in the same week after the finance minister presents the Union budget.With the December consumer inflation print of 1.33%, Q3 inflation averaged 0.8%. That was 20 bps higher than the RBI's Q3 forecast of 0.6%. Economists believe the RBI will see a similar upside to its Q4 forecast too, which is at 2.9%. The RBI has cumulatively cut policy rates 125 basis points since February 2025 to 5.25%."We do not foresee any further rate cut...

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New Delhi: India could revamp its incentive scheme for electric passenger car manufacturing since the proposed free trade agreement (FTA) with the European Union (EU) is expected to offer tariff cuts on fully built or semi-knocked-down electric vehicles, said people familiar with the matter.Officials are evaluating changes to the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI), which relies primarily on import duty concessions, including the introduction of more direct incentives, to entice global premium EV makers to establish manufacturing bases in the country, the people said."SPMEPCI will need to change after the India-EU FTA," a senior official told ET, adding that the government has yet to get any application under this scheme.126491777 Global automakers have listed the ongoing India-EU FTA negotiations, and China's curbs on rare earth magnet exports among reasons for not participating in SPMEPCI, minister of state for heavy industries,...

New Delhi: Share of hatchbacks in India's car sales picked up in the past quarter, ending a slide that began during Covid, and industry experts said data from the next three months would indicate whether it is a sustainable turnaround.Sales volume of hatchbacks such as Maruti Suzuki Alto, Tata Altroz and Hyundai i20 rose about 20% sequentially in the final quarter of 2025, helping the segment post flat volumes for the calendar year compared with 2024, show data from automotive consultancy firm Jato Dynamics. The share of hatchbacks in total passenger vehicle sales increased to 24.4% in the October-December quarter from 23.5% in the first nine months of the year, show the data. Their share prior to the pandemic was close to 50%.Industry insiders said the GST cut in September and the subsequent price reductions by automakers led many two-wheeler riders upgrade to entry-level cars, helping the segment arrest the market share slide. GST was slashed to 18% from 28% on most small cars ef...

U.S. Treasury Secretary Scott Bessent has told Reuters that additional U.S. sanctions on Venezuela could be lifted as soon as next week ‍to facilitate oil sales, and that he will also meet next week with the heads of the International Monetary Fund and World Bank on their re-engagement with Venezuela. Bessent said ⁠in an interview late on Friday that almost $5 billion worth of Venezuela's currently frozen IMF Special Drawing Rights monetary assets could be deployed to help rebuild the country's economy. "We're de-sanctioning the oil that's going to be sold," Bessent said during a visit to a Winnebago Industries engineering facility. The Treasury was examining changes that would facilitate the repatriation of sale proceeds of the ‌oil stored largely on ‌ships back to Venezuela. "How can we help that get back into Venezuela, to run the government, run the security services and get it to the Venezuelan people?" he said of the Treasury's sanctions an...

BENGALURU: Space tech startups are ramping up hiring across engineering, research and development (R&D), manufacturing and operations, driven by increasing government demand, private investment and commercial deployments, as India’s push to become a major player in the sector takes flight.Firms including Digantara, Skyroot Aerospace, InspeCity Space Labs, Dhruva Space, Astrome Technologies, Agnikul Cosmos, Garuda Aerospace, SatSure, Pixxel, Bellatrix Aerospace and Catalyx are increeasing their headcount, according to industry executives and search firms. Hiring momentum has picked up as space-based surveillance and early-warning programmes move from pilot projects to long-term contracts and round-the-clock operations. A booming satellite industry, declining launch costs and advances such as reusable rocket technology are further accelerating demand for skilled talent.All-round Scale-upDemand spreads across the space, satellite and drone ecosystems.Digantara, which recently raised $...

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Mumbai: The government has expressed serious concerns over the sharp rise in digital frauds, with financial services secretary M Nagaraju flagging the growing menace of mule accounts as a major challenge. Speaking in Mumbai at the Indian Banks' Association's (IBA) 21st Annual Banking Technology Conference, Nagaraju said that despite sustained efforts by banks, the situation remains alarming and calls for deeper deliberations to arrive at workable solutions."The government is very concerned about the rising frauds and digital risks, which are leading to innocent people losing their lifelong savings," Nagaraju said. "The menace of mule accounts is growing and, despite all possible efforts by banks, the situation is not very good. Traditional systems have been deployed to tackle these issues, but extensive deliberation is required to find feasible solutions, where the role of AI and GenAI will be very vital."The central bank has introduced initiatives such as M...

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Vehicle registrations, a proxy for retail sales, rose 7.7% to 28.16 million units last calendar year, as a reduction in vehicle prices after tax cuts helped revive consumer demand.Auto sales had remained largely muted in the first three quarters of 2025 amid global economic uncertainties and waning post-pandemic demand. However, the government's move to cut the goods and services tax (GST) with effect from September 22, and automakers dropping prices to pass on the tax benefits triggered a sharp demand recovery. Auto sales had grown about 9% in 2024.126380966 While two-wheeler and three-wheeler sales grew by 7.2% each in 2025, passenger vehicle retails increased by 9.7%, according to data compiled by the Federation of Automobile Dealers Associations (Fada).Tractor sales expanded by 11.5% and commercial vehicle sales by 6.7% in the year under review.Fada president C S Vigneshwar said 2025 was a tale of two halves with sales remaining subdued from January to August despite supportive...

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After closing at a high of 26,328.55 on Friday, the Nifty is expected to regain momentum in January. Analysts said index is trading above key averages and showing strength in momentum indicators, making dips a buying opportunity as long as it holds above 26,000.DHARMESH SHAH VICE PRESIDENT AND HEAD OF TECHNICAL, ICICI SECURITIESWhere is Nifty headed this week? The breakout from a five week consolidation range of 26,300–25,700 confirms the resumption of the uptrend. The Nifty is expected to extend rally towards 26,800 in January. Our positive bias is supported by the Bank Nifty propelling the index to a fresh all-time high after retracing a four-week decline in just a single week. The ratio chart of MSCI India versus MSCI World has once again bounced from cyclical lows held since CY21. The rally has broadened significantly over the past two weeks, with 50% of stocks trading above their 50-day SMA, compared with 27% two weeks ago. Trading Strategy Any decline towards 26,170–26,250 (Nifty...

Mumbai: Escalating geo-political tensions due to the latest US military intervention in Venezuela could keep the rupee under pressure this week, market experts said. Uncertainty in oil exporting Venezuela and likely further US action could cause volatility in oil prices and impact the rupee, bankers said. "One can expect that the currency will be the most sensitive to global volatilities and the market is positioned toward a weak rupee, although it is difficult to say by how much or what levels will the Reserve Bank of India (RBI) defend," said Anshul Chandak, head of treasury, RBL Bank. The Indian currency has posted two straight weeks of decline, ending last week below the critical ₹90 per dollar mark amid persistent year-end dollar demand. Bankers said the currency market will be volatile especially in emerging markets like India as traders make sense of the escalating tensions. To be sure, though Venezuela has one of the largest oil reserves in the world, its share in the...

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New Delhi: India's goods and services exports could reach $840-850 billion in FY26 and rise to about $950 billion in 2026-27, driven by free trade agreements particularly with West Asian countries and strength in services and technology-led sectors such as electronics, exporters said. Rising tariff barriers and climate-linked trade restrictions, however, are expected to pose significant challenges to sustaining export growth, they added."The worst for Indian exports is over and we expect tech-driven sectors to do well. Exports in 2025-26 could be in the range of $840-850 billion while FY27 could see $950 billion of total exports," said Ajay Sahai, director general, Federation of Indian Export Organisations (FIEO).Exporters said that the Red Sea crisis is mostly resolved and the industry has factored in the steep 50% tariffs imposed by the US. It is successfully diversifying its products and markets, supported by supported by the Centre's Export Promotion Mission. 1262...