BUSINESS
Tesla Shares Surge 8% as Elon Musk Plans to Scale Back DOGE Role Amid 71% Profit Decline
Despite the fact that Tesla recorded a hefty 71 percent decline in net profit in the first quarter, its auto business core earnings were above Wall Street expectations.
India Emerges as a Key Growth Market for Global Consumer Product Giants: Report
The report emphasizes that affiliates of India's leading multinational companies (MNCs) are currently returning total shareholder returns two to six times higher than their foreign parents.
Centre Imposes 1% Tax on Luxury Goods Above Rs 10 Lakh
This step follows the announcement of the July 2024 Budget, when it had sought to introduce TCS on large-value items from January 1, 2025. The Union Budget FY 2024-25 has proposed that dealers of high-value goods, including motor vehicles having a price exceeding Rs 10 lakh, impose 1% TCS. The official order was, however, left pending until now.
HSBC Report Highlights Strong Expansion in India's Manufacturing and Services Sectors in April
The PMI in April posted a healthy 60, higher than the March reading in spite of lingering trade-related risks. A reading of 50 marks the level between expansion and contraction.
World Bank Revises India's FY26 Growth Forecast Down to 6.3%
The World Bank, in its South Asia Development Update report, elaborated, "The advantages to private investment from easing of monetary stance and regulatory simplification are anticipated to be compensated by weakness in the global economy and policy uncertainty."
Gensol, BluSmart Face Third Probe as ED Investigates Money Laundering Allegations
The probe comes against the backdrop of continuing probes by the Enforcement Directorate (ED), which is probing alleged money laundering, and SEBI, which has already issued an interim order on suspected diversion of funds.
IMF Lowers India’s FY26 Growth Forecast to 6.2%
The revision, released in the IMF's April version of the World Economic Outlook (WEO), reflects increasing restraint in the presence of worldwide trade disruptions such as tit-for-tat tariff actions by the United States as well as prevailing domestic economic headwinds.
Trump Signals Possible Easing of US-China Trade Tensions, Hints at Substantial Tariff Cuts
Trump made the comments following Treasury Secretary Scott Bessent's earlier remarks during the day that the present tensions in trade between China and America could start easing off in the near future. The present tariff rates are not sustainable and there is a "de-escalation" already in the making in the economic battle between the two world powers, Bessent stated.
NPS Sees Over 12 Lakh Private Sector Subscribers in FY25
Moreover, the newly introduced NPS Vatsalya plan for kids has been well received, and more than one lakh subscribers have enrolled for it since its launch in September 2024, according to a statement by the Ministry of Finance.
India's Real Estate Sector Sees 47% Increase in Investments During January-March 2025
The largest component was the housing market, at 62% of all investments, up from 41% in Q1 2024. Residential property investment by value grew 125% year on year to $506.1 million in Q1 2025.
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