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          BUSINESS NEWS IN BRIEF

          Decentro raises Rs 30 crore, plans reverse flip to India

          Decentro raises Rs 30 crore, plans reverse flip to India

          Decentro, a Bengaluru-based fintech infrastructure startup, has secured Rs 30 crore in Series B funding led by InfoEdge Ventures. Having achieved profitability, the company plans to use the capital to enhance enterprise adoption across KYC, payments, and debt collections. Decentro also intends to reverse flip its parent entity from Singapore back to India within the next 12-18 months.

          Rate rage returns: Trump demands 'a full point' rate cut from Fed, Wall Street cheers as jobs data signals resilience

          Rate rage returns: Trump demands 'a full point' rate cut from Fed, Wall Street cheers as jobs data signals resilience

          Wall Street saw a surge following a positive US jobs report. Donald Trump called for a significant interest rate cut. He criticized the Federal Reserve's policies. The S&P 500, Dow Jones, and Nasdaq all experienced gains. Investors seemed to overlook economic concerns. There was optimism about potential easing of trade tensions.

          Trump vs Musk: How Donald Trump can cripple SpaceX and Tesla—if he chooses to pull the plug

          Trump vs Musk: How Donald Trump can cripple SpaceX and Tesla—if he chooses to pull the plug

          Elon Musk's empire, heavily reliant on government funding, faces potential disruption as political tensions rise with President Trump. With billions in contracts and subsidies at stake for SpaceX and Tesla, Trump's threats to cut federal support could significantly impact Musk's ventures. Regulatory hurdles and contract cancellations pose substantial risks to the future of these tech giants.

          India’s EV supply hit as China curbs magnet exports; Jefferies warns of risks

          India’s EV supply hit as China curbs magnet exports; Jefferies warns of risks

          India's electric vehicle manufacturing faces disruption due to a widening supply gap of rare earth magnets, exacerbated by China's export restrictions. Indian EV makers struggle to secure magnet imports, essential for EV motor production. The government is exploring solutions like stockpiling and local production incentives to mitigate the crisis and safeguard the EV industry's growth.

          Sebi freezes Mehul Choksi’s accounts, cracks down on insider trading

          Sebi freezes Mehul Choksi’s accounts, cracks down on insider trading

          SEBI has initiated recovery against fugitive businessman Mehul Choksi, freezing his assets after he failed to pay ₹2.1 crore in dues related to insider trading violations concerning Gitanjali Gems shares. Choksi, already facing extradition from Belgium and wanted in connection with the PNB loan fraud, was found guilty of sharing sensitive information.

          Uber appoints Palo Alto Networks CEO Nikesh Arora to board

          Uber appoints Palo Alto Networks CEO Nikesh Arora to board

          Uber Technologies has appointed Nikesh Arora, CEO of Palo Alto Networks, to its board of directors. Arora will also serve on key committees and receive significant compensation. This appointment occurs amidst a broader executive reshuffle, including the reinstatement of the COO role and the promotion of Pradeep Parameswaran, as Uber decentralizes decision-making.

          Trade talks gain pace: India, EU hold three rounds in 35 days; Piyush Goyal says both sides committed to FTA

          Trade talks gain pace: India, EU hold three rounds in 35 days; Piyush Goyal says both sides committed to FTA

          India and the European Union are accelerating negotiations for a comprehensive free trade agreement, holding multiple high-level meetings recently. Both sides aim to finalise the long-pending trade pact, with political momentum peaking after discussions between Prime Minister Modi and European Commission President von der Leyen. The agreement seeks to boost trade, reduce barriers, and diversify economic ties.

          US trade deficit narrows: Trade gap halves in April; China tensions keep outlook uncertain

          US trade deficit narrows: Trade gap halves in April; China tensions keep outlook uncertain

          The US trade deficit dramatically narrowed in April to a two-year low, plummeting by over 55% due to President Trump's sweeping tariffs. Imports plunged 16.3%, particularly affecting consumer goods from China, where trade sharply slowed. While exports rose slightly, driven by industrial supplies, the future of trade deals remains uncertain amid ongoing tensions and accusations.

          US markets hold steady: Wall Street edges up ahead of US jobs data; Fed rate cut bets rise amid hiring concerns

          US markets hold steady: Wall Street edges up ahead of US jobs data; Fed rate cut bets rise amid hiring concerns

          US stocks edged higher as investors awaited crucial employment data, with labor market softness fueling expectations of a potential rate cut by the Federal Reserve later in the year. Procter & Gamble announced job cuts, while Five Below surged after strong earnings. PVH Corp. faced tariff-related pressures, impacting its profit outlook.

          Eternal jumps 6%, Zomato parent among top Sensex gainers—here’s why

          Eternal jumps 6%, Zomato parent among top Sensex gainers—here’s why

          Eternal Limited shares saw a significant jump. This surge follows Morgan Stanley's positive outlook. Eternal's Q4 earnings showed a profit decline. However, operational revenue increased substantially. The company remains a key player on the Nifty50. Other gainers included Power Grid and Reliance Industries. Some companies like Bajaj Finance experienced declines.

          NCLAT halts insolvency proceedings against Reliance Infrastructure

          NCLAT halts insolvency proceedings against Reliance Infrastructure

          Reliance Infrastructure received a reprieve as the NCLAT stayed insolvency proceedings initiated against it. This followed an appeal against the NCLT Mumbai's order admitting an insolvency plea by IDBI Trusteeship Services. Reliance Infra contended that the full amount of Rs 92.68 crore, related to Dhursar Solar Power's tariff claims, had already been paid.

          Rupee drops 29 paise to close at 85.90 against US dollar amid risk-off mood, FII outflows

          Rupee drops 29 paise to close at 85.90 against US dollar amid risk-off mood, FII outflows

          The Indian rupee weakened for the second consecutive session, closing at 85.90 against the US dollar due to risk aversion and foreign fund outflows. The decline was influenced by geopolitical tensions, high crude oil prices, and anticipation of the RBI's monetary policy decision. Despite the rupee's fall, Indian equity markets closed higher, while the services sector showed continued expansion.

          Hyundai Motor exits Ola Electric with 552 crore stake sale; Kia also offloads shares

          Hyundai Motor exits Ola Electric with 552 crore stake sale; Kia also offloads shares

          Hyundai Motor Company fully exited Ola Electric Mobility, selling its 2.47% stake for Rs 552 crore. Kia Corporation also divested a 0.62% stake for Rs 137.35 crore. Citigroup Global Markets Mauritius acquired a 1.95% stake for Rs 435.47 crore, leading to a fall in Ola Electric's stock price amidst reported net losses.

          Evergent of US opens global value centre in Hyderabad with plans to hire 1,000 techies by 2025 end

          Evergent of US opens global value centre in Hyderabad with plans to hire 1,000 techies by 2025 end

          Evergent, a California-based AI-powered SaaS provider, has launched its global value center in Hyderabad, already employing 600 professionals and planning to expand to 1,000 by 2025. The company leverages Hyderabad's deep tech talent to develop AI-driven solutions for global media giants, managing over 920 million subscribers through its India-built platform.

          OpenAI Academy expands to India, commits $150,000 to nonprofits

          OpenAI Academy expands to India, commits $150,000 to nonprofits

          OpenAI has broadened its AI for Impact Accelerator in India, granting $150,000 in technical assistance to 11 nonprofits. These organizations are developing AI tools for healthcare, education, and agriculture. The program, aligned with IndiaAI Mission, aims to democratize AI access and address socio-economic challenges, with plans for further expansion and initiatives in the region.

          'Every commercial Airbus aircraft flying going forward will be partly made in India', Airbus reports

          'Every commercial Airbus aircraft flying going forward will be partly made in India', Airbus reports

          Airbus reports IndiGo and Air India are now among its top three global customers with substantial aircraft backlogs. Despite ongoing supply chain challenges impacting deliveries, Airbus is witnessing signs of stability and increasing production of A320 family planes. The company is also expanding its sourcing from India, aiming for $2 billion by the end of the decade, solidifying India's role as a strategic resource.

          Six companies receive regulatory nod to issue IPO; HDB Financial to raise Rs 12,500 crore via fresh issue

          Six companies receive regulatory nod to issue IPO; HDB Financial to raise Rs 12,500 crore via fresh issue

          Sebi has approved IPOs for six companies, including HDB Financial Services and Vikram Solar. HDB Financial Services plans to raise funds through a fresh issue and offer-for-sale, while Vikram Solar's IPO includes a fresh issue and an offer-for-sale by promoters. The funds raised will support business growth and capital requirements, with shares to be listed on BSE and NSE.

          Moody’s: India’s economic conditions support growth<br>

          Moody’s: India’s economic conditions support growth<br>

          Moody's Ratings anticipates India's robust domestic economy will sustain growth, enabling banks to maintain healthy asset quality. System-wide nonperforming loan (NPL) levels are projected to remain between 2-3% over the next year. Factors such as increased government spending and supportive monetary policy will cushion the banking system amid global uncertainties.

          Rupee falls 21 paise to 85.60 against USD on weak equities, FII outflows

          Rupee falls 21 paise to 85.60 against USD on weak equities, FII outflows

          The Indian rupee weakened to 85.60 against the US dollar on Tuesday, pressured by a stronger greenback and continuous foreign fund outflows. Domestic equities also fell, and geopolitical uncertainties loomed. Investors are cautious ahead of the RBI's monetary policy decision, due June 6. The dollar index rose, while Brent crude dipped slightly.

          Tyre major MRF reclaims title as India’s highest-priced stock

          Tyre major MRF reclaims title as India’s highest-priced stock

          MRF is now India's most expensive stock. It overtakes Elcid Investments, whose shares have fallen from a high in November 2024. Elcid's decline is linked to a drop in Asian Paints' stock value. MRF's success is due to strong financial results. The company reported higher profits and revenue for the March 2025 quarter.

          'A transformative time for Air India': CEO Campbell Wilson on the airline’s 3-year overhaul

          'A transformative time for Air India': CEO Campbell Wilson on the airline’s 3-year overhaul

          Air India, under Tata Group's ownership, is undergoing a significant transformation, marked by an order of 570 new planes. The airline, previously lacking investment and Star Alliance partnerships, has established interline agreements with all Star Alliance carriers. Operating 191 aircraft, Air India serves 112 global destinations, signaling a renewed commitment to customer experience and expansion.

          RBI likely to cut repo rate by 25 bps on June 6 amid low inflation, say experts

          RBI likely to cut repo rate by 25 bps on June 6 amid low inflation, say experts

          The Reserve Bank of India is anticipated to cut rates for the third consecutive time by 25 bps on June 6, driven by low inflation and global economic uncertainties. Experts believe this move will support growth amidst external volatility. The MPC's decision, influenced by easing CPI and global factors, aims to bolster the economy.

          Trump announces 50% steel tariff from june 4 to protect U.S. industry

          Trump announces 50% steel tariff from june 4 to protect U.S. industry

          President Trump announced a doubling of steel import tariffs to 50% at a US Steel plant in Pennsylvania, aiming to further protect the domestic steel industry. This increase, however, could potentially lead to higher prices for steel-containing products. While initially opposing Nippon Steel's acquisition of US Steel, Trump now supports a deal involving partial ownership, ensuring the company remains American.

          Rupee slips 7 paise to 85.55 against US dollar amid volatile equities and rising crude prices

          Rupee slips 7 paise to 85.55 against US dollar amid volatile equities and rising crude prices

          The rupee weakened by 7 paise to close at 85.55 against the US dollar, influenced by volatile equity markets and rising crude oil prices. Investors were cautious ahead of GDP data release, while the dollar strengthened after a US court ruling on tariffs. Despite FII selling, India's growth outlook remains robust, as highlighted by the RBI.

          US economy contracts 0.2% in Q1 amid tariff-driven disruption; imports, weak spending weigh on growth

          US economy contracts 0.2% in Q1 amid tariff-driven disruption; imports, weak spending weigh on growth

          The US economy experienced a 0.2% contraction in the first quarter of 2025, primarily due to a surge in imports ahead of President Trump's tariff hikes. This decline, the first in three years, was partially offset by strong business investment and inventory buildup. A federal court blocked Trump's tariffs, adding uncertainty to the economic outlook.

          India poised to be 'primary engine' of global economic growth in 2025 and 2026: World Economic Forum

          India poised to be 'primary engine' of global economic growth in 2025 and 2026: World Economic Forum

          India is expected to drive global economic growth in 2025 and 2026. The IMF projects strong GDP growth for India. This positions it as the fastest-growing major economy in South Asia. A trade agreement between India and the United Kingdom has boosted India’s trade outlook. Military tensions between India and Pakistan have increased uncertainty. The global economic environment remains fragile.

          Gold vs Bitcoin: Why global central banks are choosing gold over bitcoin<br>

          Gold vs Bitcoin: Why global central banks are choosing gold over bitcoin<br>

          Peter Schiff questions why central banks favor gold over Bitcoin as they prepare for a post-dollar era, highlighting record gold purchases amid rising distrust in the US dollar. This trend reflects gold's enduring role as a reliable reserve asset, contrasting with Bitcoin's volatility and limited institutional acceptance. Analysts suggest geopolitical tensions and economic uncertainty further bolster gold's appeal.

          NSDL reports nearly 5% rise in Q4 profit to Rs 83.3 crore ahead of IPO

          NSDL reports nearly 5% rise in Q4 profit to Rs 83.3 crore ahead of IPO

          National Securities Depository Ltd (NSDL) reported a rise in net profit for both the quarter and full fiscal year 2025, alongside announcing a dividend. Ahead of its IPO, NSDL has reduced the issue size to 5.01 crore shares via offer-for-sale. Sebi has extended the listing deadline to July 31, 2025.

          Government fixes 8.25% PF interest rate for FY 2024-25

          Government fixes 8.25% PF interest rate for FY 2024-25

          The government has approved an 8.25% interest rate for over 7 crore EPFO subscribers for 2024-25, following the CBT's recommendation. This rate, mirroring the previous year, offers competitive returns compared to other fixed-income options. The EPFO's consistent performance reflects confidence in its investment strategy, providing tax-free benefits to salaried individuals.

          Rupee ends 3-day losing streak, jumps 50 paise to Rs 85.45 against US dollar

          Rupee ends 3-day losing streak, jumps 50 paise to Rs 85.45 against US dollar

          The Indian rupee rebounded strongly, appreciating by 50 paise to Rs 85.45 against the US dollar, driven by a weaker dollar index and robust domestic equity market performance. Positive global risk sentiment and central bank initiatives further supported the rupee, offsetting concerns from crude oil prices and foreign fund outflows. The currency saw its largest single-day gain since November 2022.

          Apple shares tumble 4% as Trump threatens 25% tariff on iPhone made outside US

          Apple shares tumble 4% as Trump threatens 25% tariff on iPhone made outside US

          Apple's stock price tumbled after Donald Trump threatened a 25% tariff on iPhones made outside the US, escalating trade tensions. The announcement, made on Truth Social, triggered a Wall Street sell-off, with major tech stocks also declining. Trump also proposed a 50% tariff on EU goods, further unsettling investors amid ongoing trade negotiations and uncertainty surrounding US demands.

          Sensex surges over 760 points as FMCG and IT drive market rally

          Sensex surges over 760 points as FMCG and IT drive market rally

          Indian equity markets rebounded strongly on Friday, with Sensex and Nifty gaining nearly 1% driven by heavyweight stocks and positive sentiment around a potential record RBI dividend. While the market recovered some weekly losses, concerns remain about FII outflows and US fiscal health. Sector-wise, FMCG and IT stocks led the gains.

          India’s forex reserves decline by $4.88 billion in week ended May 16

          India’s forex reserves decline by $4.88 billion in week ended May 16

          India's foreign exchange reserves experienced a decrease of $4.888 billion, settling at $685.729 billion for the week ending May 16, according to the RBI. This decline follows a previous week's increase, with gold reserves notably decreasing by $5.121 billion. Foreign currency assets saw a slight increase, while SDRs and the reserve position with the IMF also experienced decreases.

          Trump declares 50% tariff on EU, calls current trade deficit 'unacceptable'

          Trump declares 50% tariff on EU, calls current trade deficit 'unacceptable'

          Donald Trump plans a 50% tariff on the European Union starting June 1, 2025. He says trade talks are stalled. Trump claims the EU takes advantage of the US. He also warns Apple. Trump wants iPhones sold in America to be made in America. He says tariffs will apply if Apple manufactures elsewhere.

          India likely to allow govt contracts to foreign firms including US amid trade talks

          India likely to allow govt contracts to foreign firms including US amid trade talks

          India plans to open its government procurement market to foreign companies. This includes firms from the United States. The move follows a similar agreement with the United Kingdom. US companies may bid on contracts worth over $50 billion. These contracts are primarily from federal entities. The decision is part of trade deal negotiations with Washington.

          Dow Jones ends flat as treasury yields dip, Trump's tax bill passed

          Dow Jones ends flat as treasury yields dip, Trump's tax bill passed

          US stocks experienced a volatile session, ultimately closing with minimal changes as declining Treasury yields mitigated earlier losses fueled by deficit concerns. The market found stability after the House approved President Trump's tax and spending bill. Tech stocks outperformed, while sector performance was mixed, with utilities and healthcare declining and technology gaining.

          India's Jan-March GDP growth likely to rebound to 6.8%, says expert

          India's Jan-March GDP growth likely to rebound to 6.8%, says expert

          Deutsche Bank forecasts India's real GDP to grow by 6.8% year-on-year in Q4 FY25, rebounding from previous quarters, driven by decreased subsidies and improved net tax collections. Favorable inflation and supportive government policies further bolster this growth, potentially pushing real GDP above 7%. India's strong economic momentum positions it as an attractive global investment destination.

          Sebi probing IndusInd Bank's senior management for 'egregious violations'

          Sebi probing IndusInd Bank's senior management for 'egregious violations'

          Sebi is investigating IndusInd Bank's senior management for potential securities market violations related to a Rs 3,400 crore accounting fraud. The RBI is conducting the primary investigation. The bank acknowledged employee involvement and initiated internal audits after identifying discrepancies in derivatives, microfinance, and balance sheet disclosures. Despite a significant net loss in the March quarter, IndusInd Bank shares recovered slightly.

          Australia lowers interest rates to 3.85%, second cut this year

          Australia lowers interest rates to 3.85%, second cut this year

          The Reserve Bank of Australia (RBA) has cut the cash rate to 3.85%, marking the second reduction this year amid declining inflation, now within the 2-3% target. This decision follows concerns about global economic uncertainty due to US tariffs, despite recent trade negotiation revivals between the US and China. While inflation stabilises, unemployment has slightly increased to 4.

          CATL shares surge 13% on first day of Hong Kong listing, biggest IPO deal of 2025

          CATL shares surge 13% on first day of Hong Kong listing, biggest IPO deal of 2025

          CATL, a leading EV battery manufacturer, witnessed its shares surge over 13% during its Hong Kong stock market debut, raising $4.6 billion. This marks the largest IPO globally this year, fueling CATL's expansion in Europe with new factories and partnerships. Despite U.S. concerns and allegations of military ties, which CATL denies, the listing proceeded, strategically excluding U.S. investors.

          Kotak Mahindra MF acquires 6.6% stake in Ami organics for Rs 301 crore

          Kotak Mahindra MF acquires 6.6% stake in Ami organics for Rs 301 crore

          Kotak Mahindra Mutual Fund acquired a 6.6% stake in Ami Organics for approximately Rs 301 crore through open market transactions, while Ami Organics' promoters divested an equivalent stake. Simultaneously, SAIF Partners reduced its holding in Le Travenues Technology (Ixigo's parent company) by selling a 1.1% stake for Rs 76 crore.

          'India can capitalise on this momentum for accelerated manufacturing growth' : S&P Global study

          'India can capitalise on this momentum for accelerated manufacturing growth' : S&P Global study

          A new S&P Global India Research study indicates that India is poised to attract more global manufacturing investment due to evolving trade dynamics. The shift towards local sourcing and regional integration could boost India's manufacturing sector, fostering technological advancement and job creation. Despite a projected GDP slowdown, India's resilience and policy initiatives position it for growth in global manufacturing.

          ICRA pegs Q4 GDP growth at 6.9%, sees full-year expansion slowing to 6.3%

          ICRA pegs Q4 GDP growth at 6.9%, sees full-year expansion slowing to 6.3%

          ICRA projects India's GDP growth to rise to 6.9% in Q4 FY25, surpassing the previous quarter's 6.2%, but falling short of NSO's 7.6% forecast. Full-year GDP growth is estimated at 6.3%, lower than FY24's 9.2%. The growth is supported by improved industrial sector and stable performance in services and agriculture, despite uneven private consumption and investment trends.

          Transit delays, higher costs: Bangladesh garment import curbs to hit buyers

          Transit delays, higher costs: Bangladesh garment import curbs to hit buyers

          India is restricting ready-made garment imports from Bangladesh via land. This action is expected to raise logistics costs. Transit times will also increase. Apparel Export Promotion Council notes potential negative impacts. A significant portion of apparel imports enters India through land ports. The change will affect shipments through Petrapole land port. Ships will now sail to Kolkata and Mumbai.

          FPIs, India-US trade news to dictate Dalal-Street movement

          FPIs, India-US trade news to dictate Dalal-Street movement

          Indian markets are poised to react to foreign fund activity, developments in the India-US trade deal, and the rupee-dollar exchange rate following Moody's US credit rating downgrade. Investors will also be watching quarterly earnings from major companies like ONGC and ITC. Strong participation from both FIIs and DIIs, coupled with global risk appetite, has fueled the recent market rally.

          Tata confidant Mohini Mohan Dutta consents to will

          Tata confidant Mohini Mohan Dutta consents to will

          Mohini Mohan Dutta, a close associate of Ratan Tata, has accepted the terms of Tata's will, receiving a substantial portion of his estate. This agreement facilitates the probate process in the Bombay high court. Dutta, once a director at the Taj hotels group, initially questioned the valuation but couldn't contest due to a no-contest clause.

          Delhi Airport operator DIAL sells entire 50% stake in DASPL to Bird Flight Services for nearly Rs 13 crore

          Delhi Airport operator DIAL sells entire 50% stake in DASPL to Bird Flight Services for nearly Rs 13 crore

          DIAL, the Delhi airport operator, has sold its 50% stake in Delhi Aviation Services Pvt Ltd to Bird Flight Services for approximately Rs 13 crore. This transaction occurs months after reports suggested DIAL facing financial challenges, including significant losses and debt, and seeks a User Development Fee hike. Despite these financial pressures, Delhi airport anticipates increased international passenger traffic in the coming years.

          India’s pharma industry grows 7.8% in April; government says, 'success of smart schemes'

          India’s pharma industry grows 7.8% in April; government says, 'success of smart schemes'

          India's pharmaceutical sector is experiencing rapid growth, with a 7.8% year-on-year increase in April 2025, driven by strong domestic demand and new product introductions. The country is a leading global supplier of generic medicines and vaccines, with government attributing its initiatives like the PMBJP and PLI schemes. Foreign investment is also robust, making India an attractive destination for pharmaceutical enterprises.

          Stock market outlook: Quarterly results, global cues, FII activity to drive market sentiment this week

          Stock market outlook: Quarterly results, global cues, FII activity to drive market sentiment this week

          Stock markets are poised to be influenced by Q4 corporate earnings, foreign fund activity, and global market trends this week. Investors are optimistic about a potential India-US trade deal. Key companies like ONGC, ITC, and Hindalco are set to release their results, impacting market trends as FIIs turned into buyers in April and May.

          RBI to issue Rs 20 notes featuring signature of governor Sanjay Malhotra

          RBI to issue Rs 20 notes featuring signature of governor Sanjay Malhotra

          The Reserve Bank of India will soon release new Rs 20 banknotes in the Mahatma Gandhi (New) Series, featuring the signature of Governor Sanjay Malhotra. The design and security features remain consistent with existing notes. Malhotra assumed office on December 11, 2024. Existing Rs 20 notes and Rs 1 notes remain legal tender.