Business

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...

Hundreds of Billions Committed as AI Race Intensifies New Delhi, February 22: Global technology leaders have pledged to invest hundreds of billions of dollars in artificial intelligence initiatives linked to India, as the country hosted a landmark AI summit attended by world leaders and top industry executives.The wave of commitments comes amid an intense global push by governments and corporations to accelerate AI development and expand computing capacity.Global hyperscalers including Amazon, Microsoft, Meta, and Alphabet are expected to collectively spend up to $700 billion this year on AI-related capital expenditure, underlining the scale of the worldwide transformation underway.Reliance and Adani Outline $210 Billion AI...

Historic Trading Volume Reflects Rising Global Interest in India-Linked Derivatives Mumbai, February 22 Trading activity in GIFT Nifty reached a new milestone on Friday, underscoring the accelerating growth of India’s equity derivatives market.The index recorded its highest-ever single-day trading volume of 457,989 contracts, generating a turnover of $23.48 billion, equivalent to approximately Rs 2.13 lakh crore. This surpassed the previous record turnover of $22.88 billion achieved on January 23, 2024.The latest milestone signals increasing participation and sustained global interest in India-linked derivatives traded at GIFT City.Strong Momentum Since Full-Scale Launch in July 2023 Trading volumes on the NSE International...

Domestic macroeconomic data releases, the monthly futures and options expiry, and global developments triggered by fresh tariff measures from US President Donald Trump are expected to keep Indian equity markets volatile in the coming week, according to analysts.Investors will also track foreign institutional investor activity, evolving developments between the US and Iran, crude oil price movements, and global monetary policy signals as key drivers of sentiment.F&O Expiry and Key Domestic Data in Focus Market participants are bracing for heightened volatility, particularly with the monthly F&O expiry scheduled for February 24.Ajit Mishra, SVP Research at Religare Broking Ltd, said that several important domestic data points are...

As India moves closer to a major defence procurement decision, Brazilian aerospace major Embraer has stepped forward with an ambitious proposal to supply up to 80 military transport aircraft to the Indian Air Force. The company is offering its KC-390 Millennium as a next-generation tactical airlifter and positioning India as a future production hub for the Asia-Pacific region.KC-390 Millennium Projected as New Global Benchmark In an exclusive interaction, Embraer President and CEO Francisco Gomes Neto described the KC-390 Millennium as a multi-mission workhorse and a new global benchmark in tactical airlift capability.He highlighted that the aircraft has been selected by nine European nations, including NATO members such as Sweden...

Industry Bodies Warn of Revenue Impact and Operational Disruptions Panaji, February 22Leading alcoholic beverage industry associations have appealed to the Goa government to defer the rollout of the proposed Deposit Refund System for liquor bottles and cans, warning of significant supply chain disruptions and potential revenue losses.The industry bodies, which represent a majority of branded alcoholic beverages sold in the state, have described the April 2, 2026 implementation timeline as unrealistic. They estimate that the move could result in an excise revenue loss of over Rs 100 crore from beer and Indian Made Foreign Liquor.What the Goa Deposit Refund System Proposes The Goa government plans to introduce the Deposit Refund...

India’s leading fast-moving consumer goods companies are preparing for a volume-driven growth cycle in the next fiscal year, supported by easing inflation, stable commodity prices, and improving consumer sentiment.After navigating several quarters of volatility, the operating environment is showing signs of stability. In the December quarter, top FMCG players reported mid to high single-digit volume growth, signaling a shift from price-led expansion to demand-led momentum.Cooling Inflation and Stable Inputs Reduce Margin Pressure Key raw materials such as edible oils, wheat, copra, and surfactants have become more affordable in recent months, reducing cost pressures on manufacturers. The moderation in inflation is also aligning with...

New Delhi, February 22: YES Bank, the private sector lender that has been steadily rebuilding its financial position, expects to close the current financial year with a Return on Assets of 1 percent, according to its Chief Financial Officer Niranjan Banodkar.The projection marks a significant milestone for the bank as it continues its recovery journey and works toward strengthening core profitability metrics.ROA Seen Crossing 1% in Next Fiscal Speaking about the bank’s financial outlook, Banodkar said the lender expects to achieve a Return on Assets of 1 percent by the end of the current fiscal year. On an annualized basis, he added, the ROA is expected to exceed 1 percent in the next financial year.Return on Assets is a key...

BPTP Expands Delhi NCR Portfolio with Joint Development Agreement New Delhi, February 22: Real estate firm BPTP Ltd has entered into a joint development agreement to develop an 11-acre residential project in Surajkund, Faridabad, marking another step in its expansion across the Delhi NCR region.The company’s subsidiary, Urban Realtech Pvt Ltd, has partnered with a landowner to develop a group housing project on approximately 11 acres in Sector 39, Surajkund, Faridabad. The proposed development is expected to offer a developable area of more than 2 million square feet.While BPTP did not disclose the investment outlay or projected revenue from the project, the scale of the development indicates a significant addition to its...