Business

23 Jan

Ujjivan Small Finance Bank Q3 results: Rise in provisions leads to 64% decline in profit

Priyanka RoyBusiness, News

Ujjivan Small Finance Bank Ltd reported a 64% year-on-year drop in its profit during the three months ended December to Rs 109 crore due to a rise in provisions. Sequentially, the bank's profit declined 53%.The bank's provisions and contingencies rose to Rs 223 crore, up sharply from Rs 63 crore a year ago. A marginal rise in net interest income also capped the small finance bank's net interest income at Rs 887 crore, up 3% year-on-year. As a result, net interest margin fell to 8.6% in the October-December period from 9.2% a quarter ago and 8.8% a year ago. The…

23 Jan

Victorian Government Proposes $450 Million Deal to Resolve Police Pay Dispute

editorinternational

The Victorian government's new offer aims to resolve a longstanding police pay dispute. The proposed $450 million deal includes a 4.5% annual pay increase for the next four years, an additional 0.5% increase for frontline police, and no requirement to "kit up" outside of shift times. This offer, which would cost around $456 million, is a compromise from the 6% annual increase the police union initially sought. It would also remove a costly "golden handshake" clause, potentially saving up to $50 million annually. The Police Association has welcomed the offer, and a formal vote by members is pending. If accepted,…

22 Jan

KISNA Jewellery awards 100 cars to customers in grand campaign finale

Business BureauBusiness

KISNA Diamond and Gold Jewellery, a prominent name in India’s jewellery retail sector, concluded its #Abki_Baar_Aapke_Liye campaign with a grand gesture—handing over 100 Maruti Celerio cars to lucky customers across the country. The campaign, which began on September 1, 2024, and ended on January 18, 2025, attracted over 51,000 participants, making it a milestone initiative in the jewellery industry. Participants were eligible for the lucky draw by purchasing diamond, platinum, or solitaire jewellery worth ₹20,000 or more, or gold jewellery worth ₹50,000 or more. Winners were selected from across India, with North India recording the highest participation. Special handover events…

22 Jan

Despite the allegations, the Senate Armed Services Committee summarily approved his nomination

editorinternational

Pete Hegseth, President Trump's nominee for Secretary of Defense, is facing serious allegations of abusive behavior towards his ex-wife, Samantha Hegseth. Danielle Hegseth, his former sister-in-law, provided a sworn statement claiming that Pete exhibited "erratic and aggressive" behavior, causing Samantha to fear for her safety. Additional allegations against Hegseth include rape, excessive drinking, and misuse of public funds, all of which he has denied. Despite these claims, the Senate Armed Services Committee narrowly approved his nomination, moving it to a full Senate vote. Democrats have criticized the incomplete FBI background check on Hegseth, arguing it failed to thoroughly investigate the…

22 Jan

HDFC Bank Q3 results: Profit may inflation to 3%, NII 6-8%; know what to watch out for

Priyanka RoyBusiness, News

HDFC Bank Q3 results: The largest private lender is likely to report a 0-3 percent rise in net profit for the December quarter, while net interest income (NII) will grow 6-8 percent. Provisions may rise sequentially, but decline on a year-on-year (YoY) basis. Net interest margin (NIM) may remain stable, banking analysts said, adding that management commentary on loan growth will be closely watched later today. Axis Securities expects HDFC Bank to report a 2.2 per cent year-on-year (YoY) rise in net profit at Rs 16,737 crore for the December quarter, as against Rs 16,373 crore in the same quarter…

21 Jan

Southern California is battling devastating wildfires fueled by strong Santa Ana winds

editorinternational

Southern California is grappling with devastating wildfires exacerbated by strong Santa Ana winds. The fires have destroyed thousands of homes and resulted in 27 fatalities. Firefighters, including inmate crews, are working tirelessly to contain the blazes. Climate change and urban expansion have contributed to the severity of the wildfires, raising concerns about future fire seasons. Residents have been forced to evacuate, and the region faces significant challenges in disaster response and recovery.

21 Jan

Despite the ceasefire, tensions continue between Israel and Hamas

editorinternational

On January 20, 2025, a ceasefire between Israel and Hamas took effect, leading to the release of hostages and the delivery of humanitarian aid to Gaza. Three Israeli women, including British-Israeli dual national Emily Damari, were freed after 471 days in captivity. Concurrently, Israel released 90 Palestinian prisoners. The ceasefire has allowed for an influx of aid into Gaza, with 915 trucks delivering essential supplies. Despite the truce, tensions persist, exemplified by Israeli settlers attacking Palestinian villages in the West Bank, resulting in property damage and injuries. The international community continues to monitor the situation closely.

21 Jan

Airtel and Bajaj Finance announce partnership to transform India’s digital financial landscape

Business BureauBusiness

Bharti Airtel and Bajaj Finance have entered into a strategic partnership to build one of India’s largest digital platforms for financial services, aiming to provide seamless and inclusive access to financial products for millions of customers. With Airtel’s 375 million customer base and Bajaj Finance’s diverse portfolio of 27 financial products, the collaboration is set to revolutionize the delivery of financial services across the country. As part of the partnership, Airtel will offer Bajaj Finance’s retail financial products via its Airtel Thanks App and through its nationwide network of stores. Customers will have access to key products such as Personal…

20 Jan

Havells India shares inflation despite marginal drop in third quarter net profit

Priyanka RoyBusiness, News

Havells India Ltd shares jumped on January 20 despite the company reporting a marginal drop in net profit in the December quarter. The home appliance maker's profit fell to Rs 283 crore from Rs 288 crore a year ago in the quarter ended December 31. Havells' revenue from operations rose nearly 11% to Rs 4,883 crore, while total expenses rose 12.3% to Rs 4,564 crore. Havells India shares were trading 1.5% higher at Rs 1,598 per share at 1:35 pm on January 20. This performance reflected strong demand from its switchgear project business, but it suffered inventory de-stocking in wires…

18 Jan

Royal Stag BoomBox 2025: Setting the Stage for the Future of Music and Entertainment in India

Business BureauBusiness

Seagram’s Royal Stag BoomBox is back for its third edition, combining the timeless melodies of Bollywood with contemporary hip-hop beats. Produced by Mirchi, the immersive music festival unveiled its lineup at a media preview in Mumbai on January 14, showcasing a unique cultural fusion that embodies the brand's 'Living it Large' philosophy. The festival will tour four major youth hubs - Hyderabad, Mumbai, Gurugram, and Guwahati - featuring headline acts and interactive experiences. Previous editions attracted nearly 100,000 attendees and garnered over 200 million views online. This year, the event introduces a gaming element in collaboration with Ampverse DMI Pulse,…