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NDTV
16 hours ago
- Business
- NDTV
PM Modi Lands In UK, Long-Awaited Free Trade Deal Expected Today: 10 Points
The free trade agreement is India's first major bilateral trade agreement with a developed economy in over a decade. A 10-point cheat sheet on the free trade agreement to be signed by India and the UK The free trade agreement between India and the UK will be signed during Prime Minister Narendra Modi's visit to London on July 24. Commerce and Industry Minister Piyush Goyal will accompany the prime minister. The two countries announced the conclusion of the negotiations for the trade agreement on May 6, after three years of negotiations. The trade agreement proposes to remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in an effort to double trade between the two economies to USD 120 billion by 2030. After the free trade agreement is signed by the commerce ministers from both countries, it will require approval from the British Parliament before coming into effect, as the Indian cabinet has already given its consent to the deal. Britain is the sixth-largest investor in India with investments of around $36 billion. There are 1,000 Indian companies in the country, with 1,00,000 employees, with a total of $2 billion investment. 99% of Indian products will receive duty-free access to the UK market, covering nearly all of India's current trade value. Apart from the free trade agreement, the biggest the UK has done since leaving the European Union, the two sides also sealed a double contribution convention. It provides for exemption for employers of Indian workers from paying social security contributions in the UK. India's exports to the U.K. rose by 12.6% to $14.5 billion, while imports grew by 2.3% to $8.6 billion in 2024-25. The bilateral trade between India and the U.K. increased to $21.34 billion in 2023-24 from $20.36 billion in 2022-23. From London, PM Modi will travel to the Maldives at the invitation of President Mohamed Muizzu in what is being seen as a breakthrough in the ties between the two countries following a spell of frostiness under Mr Muizzu.
Business Standard
3 days ago
- Business
- Business Standard
Board of Equitas Small Finance Bank approves raising Tier II capital up to Rs 500 cr
At meeting held on 21 July 2025 The Board of Equitas Small Finance Bank at its meeting held on 21 July 2025 has approved the issuance of up to 50,000 Rated, Listed, Unsecured, Redeemable, Fully Paid-Up, Subordinated, Non-Convertible Debentures having a face value of Rs.1,00,000/- each, of the aggregate nominal value of up to Rs.500 crore including a green shoe option of up to 25,000 Rated, Listed, Unsecured, Redeemable, Fully Paid-Up, Subordinated Non Convertible Debentures having a face value of Rs. 1,00,000/- aggregating up to Rs. 250 crore, in a single series, to be categorized as Lower Tier II Capital (in compliance with Basel II framework on Capital Adequacy) (Bonds/ NCDs/ Debentures) on a private placement basis.
India.com
3 days ago
- Business
- India.com
This FMCG stock in action today as board to meet consider fund raising via QIP
1 लाख के निवेश पर 10 लाख का फायदा Elitecon International, a smallcap stock, achieved a significant milestone on Monday, July 21, 2025, by hitting a fresh 52-week high. This remarkable feat was accomplished amidst a highly volatile stock market in the early trade. The stock opened with a gain of 5 per cent today, starting the trading session at Rs 131.25, the upper circuit of the counter. This surge in stock value is a testament to the company's resilience and potential. The market cap of the company is Rs 20.980 crore, and the scrip has been on an upward trajectory for the last 21 days, marking a rise of 165.74 per cent in the period. Technically, it trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages, indicating a strong performance. Company Plans To Raise Funds Via QIP The company has informed exchanges about its strategic move to raise capital. The board of directors is set to convene to discuss and approve the raising of capital by issuing equity shares via a Qualified Institutions Placement (QIP) valued at Rs 300 crores on Friday, July 25. This proactive step demonstrates the company's commitment to its growth and development. 'Raising of funds by issue of Equity Shares through Qualified Institutions Placement ('QIP') for an aggregate amount up to Rs.300,00,00,000/- (Rupees Three Hundred Crores) (inclusive of such premium or discount as may be fixed on such Equity Shares) subject to the receipt of approval of the Members of the Company and such other approval(s)/permission(s)/ consent(s)/ sanction(s) of any government/regulatory/ statutory authorities, as may be required,' the company said in an exchange filing. Share Price History According to BSE Analytics, Elitecon International's stock has been a standout performer, delivering a multibagger return of 1165.67 per cent so far this year. In six months, the counter has surged by 881 per cent, and in three months, it has seen a remarkable increase of 246 per cent. This detailed stock price history provides a comprehensive view of the company's stock performance, empowering the audience with valuable insights. Market Remains Volatile Meanwhile, equity benchmark indices Sensex and Nifty dropped in early trade on Monday. However, they rebounded amid buying in the blue-chip stocks ICICI Bank and HDFC Bank. The 30-share BSE Sensex declined 148.68 points to 81,609.05 in early trade despite a positive start. The 50-share NSE Nifty dropped 67.55 points to 24,900.85. Later, both the benchmark indices bounced back and were trading in the green. The BSE benchmark quoted 181.30 points higher at 81,944.67, and the Nifty traded 36.75 points up at 25,009.10.
Daily Express
5 days ago
- Daily Express
Injured staff: Firm to enter defence
Published on: Saturday, July 19, 2025 Published on: Sat, Jul 19, 2025 By: Cynthia D Baga Text Size: The offence, under Section 15(1) of the Occupational Safety and Health Act 1994, provides for a fine of up to RM500,00 or a jail term of up to two years, or both, on conviction. Kota Kinabalu: A company was ordered to enter its defence on two charges of failing to ensure its two workers' safety which resulted in injuries. Sessions Court Judge Elsie Primus made the order for Juta Hajat & Syarikat Kumpulan Kemajuan K.K. (Sabah) Jv Sdn. Bhd, after ruling that the prosecution had established prima facie case against the company, Friday. Advertisement The court set Sept 15, 18 and 19 this year for the company's defence. On the first and second counts, the company is accused of failing to ensure its workers' safety, health and welfare at work. Employees Chu Yin Ket, 41, and Jarry Sulaiman, 24, sustained injuries during the installation of Telekom Malaysia overhead concrete poles at the LHS Utility Corridor from CH24+525 to CH25+475 LHS. The offences allegedly took place at 11.40am on Dec 8, 2022 at the project site of the Pan Borneo Highway Sabah Project from Sindumin to Kg Melalia. The offence, under Section 15(1) of the Occupational Safety and Health Act 1994, provides for a fine of up to RM500,00 or a jail term of up to two years, or both, on conviction. The prosecution had called 12 witnesses during the hearing. Prosecuting Officer Jinurah Sintian of the Department of Occupational Safety and Health conducted the prosecution while counsel Ian Cham defended the company. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Hindu
15-07-2025
- General
- The Hindu
181 given admission under UoM free education scheme
The University of Madras (UoM) has announced a list of 181 beneficiaries under the University of Madras Free Education scheme for the current academic year. A press release said that the beneficiaries were selected from economically and socially backward families that had an annual income below ₹3,00,000. As many as 51 beneficiaries were selected under special category, 60 candidates under first generation graduate category and 70 under merit category. The event was attended by Rita John, Registrar, University of Madras, and S. Santosh Babu, Principal, DG Vaishnav College and member of the governing council of UoM.
