Business

Seoul, February 26: South Korea’s antitrust regulator has imposed a fine of 2.19 billion won, equivalent to $1.54 million, on e-commerce major Coupang for engaging in unfair trade practices involving its suppliers.The country’s Fair Trade Commission said on Thursday that the company pressured suppliers to lower product prices and shoulder advertising expenses to maintain its target profit margins.FTC Flags Supplier Pressure and Payment DelaysAccording to the regulator, Coupang was also found to have delayed payments to suppliers and failed to pay late interest. These actions were deemed to be in violation of the Act on Fair Transactions in Large Retail Businesses.The Fair Trade Commission issued corrective orders directing...

Bank of Korea Maintains Benchmark Rate for Sixth Straight MeetingSeoul, February 26: The Bank of Korea kept its benchmark interest rate unchanged at 2.5 percent on Thursday, signaling a cautious approach as policymakers balance stronger economic growth with mounting financial stability concerns.The decision, taken by the Monetary Policy Board at its latest rate-setting meeting in Seoul, marked the sixth consecutive hold. The move was widely anticipated as the central bank continues its easing cycle while closely monitoring currency pressures and the domestic property market.Easing Cycle Continues with 100 Basis Points Cut Since October 2024Since October 2024, the central bank has reduced the benchmark rate by a cumulative 100...

Mumbai, February 26, 2026: YES Bank (NSE: YESBANK | BSE: 532648) has initiated stringent measures to safeguard customers after detecting unusual transaction patterns on its Multi-Currency Prepaid Forex Cards issued in partnership with BookMyForex.The bank identified a spike in transaction declines triggered by its fraud monitoring systems, specifically linked to certain BIN numbers. The incident involved attempted unauthorised e-commerce transactions at 15 merchants based in a Latin American country during the early hours of February 24, 2026, between 3:30 AM and 8:30 AM IST.Fraud Impact and Containment Measures According to the bank’s internal investigation, transactions amounting to approximately USD 0.28 million were approved...

CARE Upgrades Piramal Finance to AA+; Retail AUM at ₹86,000 Crore, Total AUM Crosses ₹96,000 Crore Mumbai, February 26, 2026: Piramal Finance Limited (BSE: 544597 | NSE: PIRAMALFIN) has announced that CARE Ratings has upgraded its long-term bank facilities and debentures rating to CARE AA+; Stable from CARE AA; Stable, reflecting continued strengthening of the company’s financial and risk profile. The upgrade marks the second domestic rating action at the AA+ level in recent months, reinforcing confidence in the company’s earnings resilience, asset quality trajectory, and business stability. Rating Upgrade Reflects Retail-Led Transformation According to the company, the upgrade factors in expectations of improved business stability...

India Sugar Production 2025-26 Revised Down 5.57% to 32.40 Million Tonnes: ISMA India’s sugar production for the 2025-26 marketing year has been revised downward by 5.57 per cent to 32.40 million tonnes, according to the latest estimate released by the Indian Sugar and Bio-energy Manufacturers Association on Wednesday.The third advance estimate follows a previous projection of 34.35 million tonnes. Despite the downward revision, production remains significantly higher than last year’s output of 29.62 million tonnes.Lower Yields in Maharashtra and Uttar Pradesh Impact Output The industry body attributed the revision primarily to lower sugarcane yields in leading producing states such as Maharashtra and Uttar Pradesh.Net production...

ED Attaches ₹3,716.83 Crore Pali Hill Property of Anil Ambani in RCOM Bank Fraud Case The Enforcement Directorate has provisionally attached a luxury residential property worth ₹3,716.83 crore in Mumbai’s Pali Hill area belonging to Anil Ambani in connection with the Reliance Communications Ltd bank fraud case, according to an official statement issued on Wednesday.The property, known as ‘Abode’, has been attached under the provisions of the Prevention of Money Laundering Act, 2002.Attachment Under PMLA in Reliance Communications Case The Enforcement Directorate Special Task Force at its headquarters carried out the provisional attachment as part of its ongoing investigation into alleged financial irregularities linked to Reliance...

Shree Ram Twistex Ltd’s initial public offering witnessed robust investor participation, closing with an overall subscription of 43.66 times on Wednesday, February 25.The ₹110.24 crore IPO received bids for 46,28,41,632 shares against 1,06,00,000 shares on offer, according to NSE data, reflecting strong demand across investor categories.NII Segment Drives Oversubscription The non-institutional investors (NII) category led the demand, recording a staggering 220.30 times subscription.Retail participation was also strong, with the Retail Individual Investors (RIIs) segment subscribed 76.63 times.Meanwhile, the Qualified Institutional Buyers (QIBs) portion saw a comparatively moderate but healthy subscription of 3.94 times.Issue...

PNGS Reva Diamond Jewellery IPO Subscription Status The initial public offering of PNGS Reva Diamond Jewellery Ltd witnessed steady investor interest on the second day of bidding on Wednesday, with the issue subscribed 83 per cent overall.According to NSE data, the IPO received bids for 47,23,424 shares against 57,06,235 shares on offer.The Qualified Institutional Buyers segment was subscribed 96 per cent, indicating strong institutional participation. The Retail Individual Investors category saw 66 per cent subscription, while the non institutional investors portion was subscribed 65 per cent.The public issue is scheduled to close on February 26.Anchor Investment and IPO Details Earlier this week, the Pune based jewellery...

The initial public offering of Omnitech Engineering Ltd, a manufacturer of precision engineered components, opened to a muted response on Wednesday, securing 8 percent subscription on the first day of bidding.According to NSE data, the IPO received bids for 15,63,738 shares against 1,89,09,890 shares on offer.Omnitech Engineering IPO Subscription Details The demand across investor categories remained modest during the opening session.Qualified Institutional Buyers subscribed 13 percent of their allocated portion. The category for non institutional investors saw 6 percent subscription, while Retail Individual Investors also subscribed 6 percent of their quota.The ₹583 crore IPO will remain open for subscription until February 27...

RBI MPC Member Saugata Bhattacharya Sees Negligible Chances of Repo Rate Hike Amid Inflation Risks Mumbai, February 25: The possibility of a benchmark interest rate hike remains “negligible” despite emerging inflationary pressures, said Saugata Bhattacharya, an external member of the Monetary Policy Committee of the Reserve Bank of India, on Wednesday.His remarks come at a time when geopolitical tensions, elevated crude oil prices, rising metal costs, and weather-related risks are seen weighing on the consumer price inflation outlook.Repo Rate Outlook: No Immediate Need for Tightening Bhattacharya said he sees little likelihood of the central bank needing to raise the repo rate in the near term. Earlier this month, he and the other...

The European Commission has announced stricter import controls on arachidonic acid oil sourced from China, effective February 26, following findings that linked the ingredient to contamination in infant formula products across multiple countries.The move comes after a series of recalls by major global manufacturers and a detailed risk assessment by the European Food Safety Authority, which has set a new safety threshold for infants.Infant Formula Recalls Across 60 Countries Since December, leading infant nutrition producers including Nestlé, Lactalis, and Danone have recalled infant formula products in 60 countries.Laboratory tests detected cereulide, a toxin produced by the bacterium Bacillus cereus. The toxin can trigger...

Working Capital to Ease as Projects Move Into Operational Phase Genus Power Infrastructure expects its operating cash flows to turn positive by FY27 as its large-scale smart meter installations transition into the operational stage, according to Joint Managing Director Jitendra Kumar Agarwal.Agarwal said that concerns around cash generation are largely linked to upfront investments required to execute multiple smart metering projects simultaneously, rather than delays in payments or weak collections.He stated that by the end of the financial year, the company expects to report positive cash flow.Upfront Investment Temporarily Locks Capital The company is currently deploying smart meters across a wide number of sites at the same...

Bengaluru, February 25: Job openings across India’s semiconductor design Global Capability Centers, commonly known as GCCs, witnessed a revival in the October to December quarter of 2025, with November and December recording the strongest month on month increase in openings during the year.However, despite the late year momentum, overall hiring volumes remained below the levels seen in early 2025, according to Careernet’s report titled India’s Semiconductor Design GCC Talent Ecosystem CY 2025.Hiring Trend: Decline Until October, Recovery in Q4 2025 An analysis of hiring data across the top 50 semiconductor design GCCs showed that open positions declined steadily from January to October 2025.The December quarter marked a shift in...

New Income Tax Act 2025: Draft Forms Tighten HRA Claims, Foreign Tax Credit Rules and Audit Disclosures The government has released draft income tax forms under the new Income Tax Act, 2025, introducing stricter disclosure requirements for House Rent Allowance claims, foreign tax credits, PAN applications and tax audit reporting.The new law, which replaces the six decade old Income Tax framework, will come into effect from April 1, 2026. Draft Rules and Forms have been circulated for stakeholder consultation, with final notifications expected next month.Tenant-Landlord Relationship Disclosure Made Mandatory for HRA Claims A key change in the draft forms is the introduction of Form 124, which requires an assessee to disclose any...

Jairam Ramesh Questions US Tariff Move on Indian Solar Modules New Delhi, February 25: The Congress on Wednesday termed the India US interim trade deal as distinctly one sided and called on the government to put the agreement on hold, warning that it could prove disastrous for lakhs of farmers across the country.In a post on X, Congress general secretary in charge of communications, Jairam Ramesh, pointed to the recent US decision to impose a 125.87 percent duty on imports of solar modules from India.He questioned the commitment of the US leadership to the spirit of the trade pact. “What does this say of President Trump’s commitment in letter and spirit to the India US trade deal, which has been so praised and applauded by his...

Blackstone-Backed Bagmane Prime Office REIT Plans $3.9 Billion IPO Launch Blackstone-backed Bagmane Prime Office REIT is preparing to launch its initial public offering as early as next month, targeting a valuation of approximately $3.9 billion, according to people familiar with the development.The Bengaluru-based real estate platform has received regulatory approval and has started investor roadshows, sources said, adding that discussions remain ongoing and certain details may still change.IPO Size and Structure According to the draft prospectus filed in December, the proposed offering aims to raise ₹40 billion. The issue will comprise:Up to ₹30 billion in newly issued units A secondary sale of ₹10 billion by BlackstoneWhile...

Indian tech startups raised $9.1 billion in 2025, marking a 23 per cent year-on-year increase, even as investors adopted a more selective and milestone-linked funding approach, according to a joint report by Nasscom and Zinnov.The findings highlight a clear transition in India’s startup ecosystem, moving away from volume-driven expansion toward execution-led maturity. Capital is increasingly being channelled into scalable ventures that demonstrate commercial readiness and strong operational performance.Early-Stage Deals Dominate Investment Activity The report noted that 74 per cent of total deal activity in 2025 took place at the seed and early stages. This trend underscores the resilience of India’s innovation pipeline, even as...

Indian Rupee Trades in Narrow Band for Second Straight Session The Indian rupee remained confined to a tight range on Wednesday, closing at 90.96 on a provisional basis against the US dollar. The domestic currency slipped marginally by 1 paisa compared to its previous close of 90.95, reflecting cautious sentiment in the foreign exchange market.At the interbank foreign exchange market, the rupee opened at 90.94 against the dollar and moved within a narrow band throughout the session before settling at 90.96. This marks the second consecutive day of range-bound trading.Weaker Dollar and Equity Gains Provide Support Forex traders indicated that a softer US dollar and positive domestic equity market sentiment helped limit losses in the...

China EV Market Slowdown: Li Auto Deliveries Drop 32%, BYD Sales Slide as Profit Outlook Faces Pressure Weak Demand and Rising Costs Weigh on Chinese EV Makers New Delhi, February 25: The long-term profit outlook for Chinese electric vehicle manufacturers is coming under strain as weakening consumer demand and rising operating costs begin to reshape the world’s largest EV market.After years of rapid expansion, investors are now questioning whether the high growth trajectory can continue in an industry that has become increasingly crowded and more expensive to operate.Li Auto Deliveries Fall Nearly 32% in November Recent sales data underscores the mounting challenges. Overall EV sales in China failed to break out of a prolonged...

US Companies Lead as GCCs Drive 36% of Workspace Demand Across Seven Major Cities Delhi, February 25: Foreign companies, largely headquartered in the United States, have leased 101 million square feet of prime office space across India’s seven major cities over the past five years to establish Global Capability Centres, according to Colliers India.Data from Colliers shows that gross office leasing between 2020 and 2025 stood at 280.2 million square feet across Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune. Of this, 101 million square feet was absorbed by foreign firms setting up GCCs, accounting for 36 per cent of the total workspace demand in these key markets.US-based corporations alone leased 71 million...