Business

Smartphones Overtake Diesel Fuel as India’s Largest Export Category New Delhi, February 23: Apple’s iPhone has emerged as India’s most valuable export item in 2025, with shipments worth approximately $23 billion from domestic manufacturing facilities, largely destined for the United States, according to industry data.For the first time, smartphones have become India’s top export category, overtaking automotive diesel fuel. During the January to December period, total smartphone exports reached $30.13 billion. Apple accounted for 76 percent of these exports, underscoring the company’s dominant role in India’s electronics export surge.PLI Scheme and China Diversification Drive Export Growth The sharp rise in Apple exports has been...

Mumbai, February 23: The benchmark indices Sensex and Nifty begin the week on a firm footing on Monday, supported by strong buying in banking and services stocks, as positive cues from Asian markets lift investor sentiment.The rally follows a landmark ruling by the US Supreme Court that invalidated the Trump tariffs, terming them illegal, a development that analysts say could reshape global trade dynamics.Sensex Jumps Over 570 Points, Nifty Reclaims 25,750 Mark The 30 share BSE Sensex rises 572.10 points, or 0.69 percent, to 83,386.81 in early trade. The 50 share NSE Nifty advances 190.65 points, or 0.75 percent, to 25,761.90.Banking heavyweights and frontline stocks lead the gains. Among Sensex constituents, Adani Ports, Axis...

Joint Development Agreement Signed in Thane Godrej Properties Ltd has entered into a joint development agreement to build a large housing project on an 18-acre land parcel in Thane, Mumbai, as part of its ongoing expansion strategy.In a regulatory filing on Monday, the Mumbai-based real estate developer confirmed that it has partnered with a landowner to develop the project. The company did not disclose the name of the landowner involved in the agreement.The proposed development will primarily comprise residential units and carries an estimated revenue potential of over ₹7,500 crore.Focus on High-Growth Micro-Markets in MMR The upcoming project will mark the company’s fourth development in Thane, a location that has emerged as one...

The Indian rupee strengthened by 21 paise to 90.73 against the US dollar in early trade on Monday, supported by a sharp decline in global crude oil prices and a weaker dollar amid fresh uncertainty over US tariff measures.At the interbank foreign exchange market, the rupee opened at 90.76 and advanced further to 90.73, marking a recovery of 21 paise from its previous close of 90.94. The domestic currency had fallen 26 paise on Friday.Crude Oil Prices Ease, Supporting the Rupee Global oil benchmark Brent crude declined 1.09 per cent to USD 70.98 per barrel. Lower crude prices typically ease pressure on India’s import bill, offering support to the rupee.The dollar index, which measures the US currency against a basket of six major...

Mumbai, February 23: Indian equity markets opened the week on a firm footing on Monday, supported by encouraging global signals and improved investor sentiment after the United States Supreme Court struck down tariffs imposed by US President Donald Trump.Sensex and Nifty Register Strong Opening Gains As of 9:25 am, the BSE Sensex advanced 563 points, or 0.68 percent, to 83,375. The Nifty 50 climbed 170 points, or 0.67 percent, to 25,741.Broader markets delivered a mixed but positive performance. The Nifty Midcap 100 rose 0.12 percent, while the Nifty Smallcap 100 outperformed with a gain of 0.86 percent.Sectoral Performance: PSU Banks Lead the Rally Most sectoral indices traded in positive territory during early trade. The Nifty...

Mumbai, February 23, 2026 (Monday) – Stallion India Fluorochemicals Limited (NSE: STALLION | BSE: 544342) has received approval for land allotment for its proposed Hydrofluoroolefin (HFO) manufacturing facility at the RIICO Industrial Area in Ukhalliya, District Bhilwara, Rajasthan. The allotment strengthens the company’s Rajasthan expansion roadmap and positions it to build an integrated fluorochemicals manufacturing complex. Land Allotment Details and Expansion Layout The company has been allotted Plot No. SP2-9, measuring approximately 53,369 sq. mtrs, adjacent to its existing plots:Plot SP3-10: ~40,524 sq. mtrs Plot SP3-11: ~28,650 sq. mtrsThis takes the total contiguous landholding in the area to approximately 122,543 sq. mtrs...

Meetings With GIC and DBS Highlight Investment Push Singapore, February 23: Uttar Pradesh Chief Minister Yogi Adityanath held key meetings with leading Singaporean government-linked institutions on Monday, seeking sovereign and institutional investment in high-growth sectors across the state.The Chief Minister arrived in Singapore earlier in the day and engaged with senior representatives of global investment entities to explore long-term partnerships. The discussions centred on attracting sovereign investment participation in Uttar Pradesh across data centres, logistics hubs, renewable energy, and industrial infrastructure.Highlighting the state’s investor-friendly policy framework, he underscored fast-track clearances and...

Declining Ownership Among 20s and 30s New data from South Korea’s auto industry tracker Carisyou shows that new passenger car purchases by people in their 20s and 30s fell to their lowest levels in a decade in 2025.New car registrations among consumers in their 20s totaled 61,962 units, accounting for 5.6 percent of all new cars registered last year. This marks a steady decline from 8.8 percent in 2016, bringing the share to its lowest level in ten years.For those in their 30s, registrations stood at 209,749 units, representing 19 percent of total new car registrations. Over the past decade, this share has dropped by 6.9 percentage points, also reaching a ten-year low.Industry observers attribute the decline primarily to rising...

Shipments Hit Record $43.5 Billion in First 20 Days Seoul, February 23: South Korea’s exports climbed 23.5 percent year on year in the first 20 days of February, powered by robust semiconductor demand, according to data released by the Korea Customs Service.Outbound shipments reached $43.5 billion during the February 1 to 20 period, compared to $35.2 billion recorded in the same period last year. The latest figure marks the highest level ever for this timeframe, reflecting the sustained momentum in the country’s export-driven economy.The surge was largely attributed to a sharp rise in semiconductor exports amid strong demand linked to artificial intelligence applications.Semiconductor Exports More Than Double Exports of...

Seoul, February 23: South Korea has reaffirmed its commitment to maintaining stable trade relations with the United States, with the government pledging continued “amicable” consultations to safeguard favorable export conditions secured under the bilateral tariff agreement between the two nations.Kim Jung-kwan, South Korea’s Minister of Trade, Industry and Resources, said the government will prioritize national interest while ensuring that the balance of benefits achieved through the Korea US tariff agreement remains intact.Government to Maintain Close Communication with Washington Speaking at a meeting with local business representatives, Kim emphasized that Seoul will pursue close communication and constructive engagement with...

Chandigarh, February 22 The Haryana government has de-empaneled IDFC First Bank and AU Small Finance Bank for government business with immediate effect, according to an official circular.No government funds will be parked, deposited, invested, or transacted through these institutions, it said."IDFC First Bank and AU Small Finance Bank are hereby de-empaneled for government business in Haryana with immediate effect, pending further orders," according to a circular issued by the Finance Department.IDFC First Bank disclosed on Sunday that its employees and others had committed a fraud of Rs 590 crore involving accounts held by the Haryana government with the private sector lender.In a regulatory filing made in the early hours, IDFC...

New Delhi, February 22 Silver and gold are expected to continue their gains next week as investors seek safe-haven assets amid renewed trade tensions following US President Donald Trump's decision to raise global tariffs and rising geopolitical strains in the Middle East, analysts said.Market participants will closely watch key economic indicators, including the US Producer Price Index (PPI), consumer confidence data, weekly initial jobless claims, and the People's Bank of China's lending rate decision, for clues on the direction of precious metals, they added."The markets are awaiting the US producer price index (PPI), housing data, consumer confidence, regional Fed indicators, and the People's Bank of China's prime rate decision,"...

New Delhi, February 22 Lodha Developers, a real estate firm, has partnered with Sahana Group companies to develop projects on multiple land parcels spanning over 10 acres in Mumbai, according to CRE Matrix.Real estate data analytics firm CRE Matrix has obtained the registration document of the Joint Development Agreement (JDA) between Lodha Developers and Sahana entities – Sahana Properties and Resorts Pvt Ltd and Sahana Builders and Developers Pvt Ltd.The JDA was registered on February 11. The total land, located in Parel-Sewri in Mumbai, covers an area of 41,526 square meters.The JDA was executed for a consideration of Rs 364.80 crore. According to CRE Matrix, the stamp duty paid is Rs 37.20 crore.Lodha Developers Ltd acquires...

New Delhi, February 22 – Poverty in Pakistan has reached its highest level in 11 years, with nearly 29 per cent of the population now living below the poverty line, according to an official survey released by Planning Minister Ahsan Iqbal.The report, cited by The Express Tribune, showed that around 70 million people are living in extreme poverty, based on a monthly poverty line of Rs 8,484, which is considered the minimum amount needed to meet basic needs.Preliminary findings for the fiscal year 2024-25 reveal that poverty has increased by 32 per cent since 2018-19, when the last survey was conducted.In 2019, the poverty rate stood at 21.9 per cent. During the first year of Prime Minister Shehbaz Sharif’s current government, the...

New Delhi, February 22 State Bank of India has outlined an ambitious roadmap to expand its green financing portfolio, setting a target to raise green advances to between 7.5 percent and 10 percent of its total advances by 2030. Of this, 25 percent is expected to be funded through green lines of credit, reinforcing the bank’s long term sustainability strategy.Green Advances at 1.56 Percent as of March 2025 As of March 31, 2025, green advances accounted for 1.56 percent of the bank’s total advances. The new target signals a substantial scaling up of financing for environmentally aligned sectors over the next five years.The move is positioned as part of the lender’s broader push to support India’s green transition while embedding...

Immediate Ban on Government Transactions in Haryana Haryana Government has removed IDFC First Bank and AU Small Finance Bank from handling all government business in the state with immediate effect, following the disclosure of an alleged fraud of around Rs 590 crore.In an official circular issued on Sunday, the state government prohibited both lenders from conducting any government-related transactions in Haryana until further orders. All departments, boards, corporations, and public sector undertakings have been directed to stop using these banks for deposits, investments, or any other financial dealings.Authorities have also been instructed to transfer existing balances immediately and close all accounts maintained with the two...

Lodha Developers Q4 Construction Investment and Expansion Strategy Lodha Developers Ltd has announced plans to invest Rs 1,200 crore in pure construction activities during the current March quarter of the 2025 to 26 fiscal year, as the real estate major accelerates its growth strategy across key urban markets.The company, which markets its properties under the Lodha brand, is among the leading real estate developers in India and continues to strengthen its project pipeline through sustained investments and new launches.Managing Director and Chief Executive Officer Abhishek Lodha informed analysts that construction spending for the ongoing quarter is expected to remain strong at around Rs 1,200 crore.12 New Housing Projects with Rs...

The Supreme Court is set to hear on Monday the petitions filed by Meta Platforms and WhatsApp challenging a ₹213.14 crore penalty imposed by the Competition Commission of India over WhatsApp’s privacy policy.The case places the spotlight once again on data sharing practices, privacy rights, and regulatory oversight in India’s digital ecosystem.Bench Led by CJI Surya Kant to Take Up the Matter A bench headed by Chief Justice of India Surya Kant, along with Justices Joymalya Bagchi and Vipul M Pancholi, is expected to hear the matter.Earlier, on February 3, the court made strong observations against the companies, stating that they cannot play with citizens’ right to privacy in the name of data sharing. The bench also remarked that...

Proprietary Data to Define Next Phase of AI Leadership, Says InMobi Official New Delhi, February 22 The balance of power in the technology sector is moving away from traditional software toward artificial intelligence models trained on proprietary data, a senior official at InMobi said on Sunday.The remarks come at a time when the Indian government is backing open source frameworks to build sovereign AI capabilities, even as debate continues over how India’s IT industry should position itself in the global AI race.According to Tewari, the future strength of technology companies will not be determined by software alone. Instead, competitive advantage will increasingly depend on proprietary models trained on exclusive data sets.“The...

Adani Group Chairman Inspects Godda and Pirpainti Ultra-Supercritical Power Projects Ranchi, February 22: Gautam Adani, Chairman of Adani Group, on Sunday reviewed major power infrastructure projects in Jharkhand and Bihar involving investments of over ₹40,000 crore, underlining the conglomerate’s growing footprint in eastern India.The visit covered key thermal power assets in Godda, Jharkhand, and Pirpainti near Bhagalpur in Bihar, both based on ultra-supercritical technology.Godda Power Plant Supplies Electricity to Bangladesh At Godda in Jharkhand, Adani inspected the 1,600 megawatt ultra-supercritical thermal power plant developed with an investment exceeding ₹16,000 crore.According to a company spokesperson, the plant...