The Economic Times The Economic Times

The Economic Times Pre-IPO party: Tiger Pacific Capital latest to pour into Bira 91 Keg

Tiger Pacific Capital acquires 4% of B9 Beverages for $25 million, strengthening its capital base. The acquisition includes strategic partners and blue chip financial sponsors across geographies. Ankur Jain plans to raise $50 million for pre-IPO companies and listed securities.

The Economic Times Industrial and manufacturing sector dominates million-dollar CXO club

CXOs from the industrial and manufacturing sector dominate the million-dollar compensation club, followed by financial services, automotive, and pharma sectors. Talent gaps, compensation structures, and the distribution of large companies impact high earners. Knowledge-based companies in IT, software, and banking perform well in terms of compensation.

The Economic Times Reliance Capital lenders' counsel asks Hindujas to roll out IBC plan

The National Company Law Tribunal (NCLT) approved the ₹9,650 crore resolution plan of IIHL in its order dated February 27. Torrent Investments, which was the other bidder in the fray, has contested the resolution process, and the matter is pending before the Supreme Court.

The Economic Times Bloomberg bond index inclusion may see $5 billion inflows

Upon complete integration into the Bloomberg Emerging Market 10% Country Capped Index, India is anticipated to stand alongside China and South Korea, reaching the 10% cap as one of the major markets.

The Economic Times Karnataka to become $1 trillion economy by 2032: MB Patil

Karnataka aims to become a $1 trillion economy by 2032 with a sustained growth rate of 18%. The state plans to bring out a new clean mobility policy to attract EV manufacturing. Karnataka wants to become a global manufacturing hub and has seen a 62% increase in per capita income in the last five years.

The Economic Times Indian M&E sector expected to grow at 10% to Rs 2.5 trillion

The Indian media & entertainment sector is projected to grow at a 10.2% rate, reaching Rs 2.55 trillion by 2024 and Rs 3.08 trillion by 2026. Digital media will be the largest segment, and online gaming, animation/VFX, and organised live events industry are also expected to see significant growth. Digital media is anticipated to overtake television in 2024 as the largest segment in the M&E sector

The Economic Times Sony deal in past; Zee focus now on future, rebuilding business: Punit Goenka, MD & Chief Executive, Zee

Any asset failing to generate profit will be divested from the media company’s portfolio, Goenka said. He also spoke of the challenges facing Zee after the merger failure, impact of the Reliance-Disney merger on the industry, Sebi’s allegations of fund diversion, and his ambitious turnaround plan.

The Economic Times Tata Motors to split into 2 listed companies

While the commercial vehicle business and its related investments will be housed in one entity, the passenger vehicle business (PV), electric vehicles, JLR and its related investments will form another entity "as there are limited synergies" between the two, the company said in a stock exchange filing on Monday.

The Economic Times Moody's raises India's 2024 GDP forecast to 6.8% from 6.1%

Moody's on Monday raised India's GDP growth estimate for 2024 to 6.8 percent from 6.1 percent. The boost in economic growth during the October-December quarter, which reached 8.4 percent, was attributed to a significant decrease in key subsidies.

The Economic Times After changes at the helm, NARCL goes on a bad-loan lapping spree

Led by Diwakar Gupta, NARCL has emerged as the most active player in the bad loan market, acquiring over ₹30,000 crore of stressed loans in four months. It operates under the 15:85 structure, offering 15% cash and 85% security receipts.

The Economic Times Real-money gaming companies look for an ace to beat tax blues

Companies are trying out restrictions on the withdrawal of deposits for shorter games like rummy and poker to avoid being hit by repetitive taxation, as goods and services tax is levied every time a new deposit is made.

The Economic Times Banks to bring in extra KYC verification layers

Banks are enhancing their KYC standards by adding extra verification layers to identify accounts and account holders. The plan includes updating existing accounts, especially those with a single phone number linked to multiple or joint accounts, and seeking more verification from individuals with multiple accounts opened using different documents. A committee led by finance secretary TV Somanathan is working to standardise and ensure interoperable KYC norms across the financial sector. The move aims to address concerns about slackened KYC norms by fintech companies, which may increase risks for lenders.

The Economic Times Elon Musk loses world’s richest person title to Jeff Bezos

Elon Musk lost his position as the world's richest person to Jeff Bezos. The wealth gap between them has been shrinking as Amazon shares rise and Tesla shares fall. Bezos is now the largest shareholder of Amazon with a net worth of $200.3 billion.

The Economic Times Global tax deal: Large Indian companies check readiness, assess impact

The Pillar Two model rules under Global Anti-Base Erosion Regulation have been crafted to ensure that large multinationals pay a minimum level of tax. They apply to companies that are members of a multinational group and have had annual sales of ₹750 million or more in the ultimate parent entity's consolidated financial statements for at least two of the four fiscal years before the tested year.

The Economic Times KPMG fined $2 million for 'failures' in M&C Saatchi audit

KPMG fined $2 million for 'failures' in M&C Saatchi audit