Latest news with #GEM
The Hindu
2 days ago
- Business
- The Hindu
SPMVV signs MoU with Singapore firm to foster innovation
Society for Innovation Incubation and Entrepreneurship, the Technology Business Incubator (SSIIE-TBI) of Sri Padmavati Mahila Viswa Vidyalayam (SPMVV), has entered into a memorandum of understanding (MoU) with Govin Holdings of Singapore to foster global innovation and entrepreneurship. This MoU was a strategic follow-up to the visit of founder and Group CEO of the Singapore-based firm Anand Govindaluri to the campus during the inauguration of NIDHI-PRAYAS SHALA held on June 21 this year, where he had participated in a session as a resource person on 'Legal and Financial Architecture for Startup Growth'. This MoU sets the ball rolling on the SSIIE's endeavour to take incubation to a higher level and make a foray into the international market, with the active support of Govin Holdings. The tie-up also ensures establishing of a startup accelerator, launch of a skilling academy in startup entrepreneurship, constitution of Govin Entrepreneurship Merit (GEM) and SMILE Awards to recognise best women innovators at the PhD/post-doc level. 'This is a milestone in our collective journey to build a vibrant and inclusive global innovation ecosystem,' Mr. Govindaluri said. SPMVV Vice-Chancellor V. Uma called it a major step in empowering women scientists and entrepreneurs, thus expanding the global footprint of startups incubated at SSIIE on their campus. Registrar N. Rajani congratulated the TBI's CEO J. Surya Kumar and his team for signing the pact towards an impactful global partnership.
Business Times
2 days ago
- Business
- Business Times
China's coal pipeline risks creating glut, blowing climate goals
[SYDNEY] China's proposed coal mine developments risk creating an oversupply and derailing climate goals, according to Global Energy Monitor (GEM). More than 450 sites are in development across China, with nearly 40 per cent under construction or in test operation, according to the California-based researcher, which promotes clean energy use. If they are all built, their combined capacity of 1.35 billion tonnes a year would surpass that operating in Indonesia and Australia, the biggest exporters of the fuel for power generation and steelmaking. The scale of China's coal ambitions threatens to overwhelm its own and global climate goals. The country accounts for 60 per cent of all proposed mine capacity worldwide, and its buildout alone would generate 80 per cent of the methane emissions tied to planned projects, GEM said. Methane is more than 80 times more potent than carbon dioxide over a 20-year period. 'Without drastically scaling back plans for new mine capacity, the world could see a massive rise in potent methane emissions that would make it all but impossible to reach the goals of the Paris Agreement,' said Dorothy Mei, project manager of the Global Coal Mine Tracker at GEM. China's current buildout risks another round of overcapacity similar to that from 2012 to 2015, which triggered price crashes and stranded assets, according to the report. Nearly half of the proposed capacity remains in early-stage planning and could still be scrapped, but a 2024 directive from Beijing seeking to build 300 million tonnes of reserve mine capacity by 2030 has prompted local governments, including Inner Mongolia, to fast-track approvals to meet quotas. Globally, 105 million tonnes of coal production capacity was added in 2024, down 46 per cent from a year earlier and the lowest in at least a decade. But more than 850 new mines or expansions are still under development across 30 countries. That includes 329 million tonnes in India and 165 million tonnes in Australia. That trend further jeopardises global climate targets, with the United Nations saying coal production needs to fall 75 per cent in the decade to 2030 and the International Energy Agency (IEA) calling for a 39 per cent reduction, GEM said. The current output trends are widening the gap to achieve those goals, meaning annual retirements of coal capacity would need to exceed new additions under both the UN and IEA scenarios, it said. BLOOMBERG
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Foreign Investors pump $1.4 bn into India-ETFs dominate, Active funds lag
India emerged as one of the top destinations for foreign capital in June 2025, recording net inflows of $1.4 billion into listed funds, marking the second consecutive month of positive fund flows. The surge was led by Exchange-Traded Funds (ETFs), even as traditional active funds continued to bleed assets., as per data analysed by Kotak Institutional Equities. According to data from Kotak Institutional Equities (KIE), the ETF segment alone attracted $2.4 billion in June, effectively offsetting the $1 billion in outflows from actively managed non-ETF funds. The growing investor tilt toward passive vehicles is reshaping foreign portfolio trends in India and other emerging markets. India was the second-highest recipient of foreign capital among emerging markets in June, trailing only South Korea ($1.9 billion). Other major inflow recipients included Brazil ($1.2 billion) and Taiwan ($1 billion). China stood out as the only major market to report net outflows, with investors pulling out $36 million, highlighting continued caution around the world's second-largest economy. Key Highlights: Net Inflows into Listed Funds: India-focused listed funds recorded inflows of $1.4 billion in June. This was driven by ETF inflows of $2.4 billion, which outweighed the $1 billion in outflows from non-ETF (actively managed) funds. India-Dedicated Funds: These funds saw total net inflows of $726 million, with $633 million coming from ETFs and $93 million from non-ETFs. GEM Funds: Global Emerging Market (GEM) funds also contributed to the inflow trend, adding $563 million, again led by ETF inflows of $1.3 billion offset by $727 million in non-ETF outflows. Emerging Market Trends: India was among the top beneficiaries in emerging markets, attracting $1.4 billion, second only to South Korea ($1.9 billion). Other key markets like Brazil and Taiwan saw inflows of $1.2 billion and $1 billion, respectively. China remained an outlier with modest outflows of $36 million, continuing its recent trend of investor caution. Country Allocations: India's allocation within Asia ex-Japan funds declined slightly to 16.3% in June from 16.4% in May. Within GEM funds, India's weight slipped to 18.7% from 19%, reflecting cautious rebalancing despite the inflows. ETF allocations remained stable while non-ETF allocations declined marginally, suggesting a stronger bias toward passive investing. As of June 2025, the total foreign portfolio investor (FPI) assets under custody (AUC) in India stood at $865 billion. The United States remains the largest source of FPI flows into India, with significant contributions from sovereign wealth funds, mutual funds, and pension funds. "Listed funds witnessed inflows for the second consecutive month. The inflows were driven by ETFs, which attracted US$2.4 bn, offset by non-ETF outflows of US$1 bn. GEM funds saw US$563 mn of inflows, led by ETF inflows of US$1.3 bn, offset by US$727 mn of non-ETF outflows. India-dedicated funds witnessed inflows of US$726 mn (US$633 mn of ETF inflows and US$93 mn of non-ETF inflows). Listed emerging market fund flows were positive for most countries, except for China. South Korea, India, Brazil and Taiwan saw inflows of US$1.9 bn, US$1.4 bn, US$1.2 bn and US$1 bn,respectively. China witnessed outflows of US$36 mn," said Sanjeev Prasad of Kotak Institutional. These inflows come despite ongoing global macroeconomic uncertainty. Investors appear to be re-allocating capital to markets with stronger growth prospects like India, especially through low-cost ETFs. Meanwhile, active fund managers seem to be taking a more cautious approach, leading to sustained non-ETF outflows. With ETF momentum staying strong and geopolitical concerns elsewhere, India could continue benefiting from global asset reallocation trends in the coming months.
Hindustan Times
4 days ago
- Politics
- Hindustan Times
Parliamentary committee seeks answers from BHU on range of issues
The Parliamentary standing committee on education, women, children, youth and sports has sought answers to 40 questions from Banaras Hindu University (BHU) on a range of issues such as academics, probe and compliance of National Commission for Women's directives among others, according to an official. One key concern is the prolonged absence of a regular vice-chancellor at the BHU. (File) The committee, led by Rajya Sabha MP Digvijay Singh, which inspected the BHU on July 1, has sought a written reply from BHU. The university administration is preparing answers to these questions, the official said. The panel also includes members such as Rajya Sabha MP Bikash Ranjan Bhattacharya, Dr Bhim Singh, Ghosi MP Rajiv Rai, MPs Rekha Sharma, Brijmohan Agarwal, Amardev Sharaddev Kale, Dr Hemang Joshi and Shobhanaben Mahendra Singh Baraiya. After a campus inspection and a marathon meeting with university officials, the committee has now sought a written response supported by relevant documents. One key concern is the prolonged absence of a regular vice-chancellor. The committee asked when the last full-time VC demitted office and how many administrative posts a single person can legally hold under BHU statutes. On the academic front, the committee inquired whether BHU currently has elected teacher, staff, and student bodies. It also raised multiple questions regarding the utilisation of funds under the Institute of Eminence (IoE) scheme. These include the total funding received over the past four financial years, the officials responsible for implementing the programme, audits conducted and the list and status of projects undertaken using IoE funds, particularly in terms of infrastructure development. Regarding administrative appointments, the committee asked whether the current registrar is holding additional charge or is duly appointed, and requested a list of registrars over the last decade, along with their appointment status. It also questioned the appointment status of the medical superintendent at Sir Sunderlal Hospital, asking for the last date of a regular appointment and the basis for the current temporary arrangement. Among financial queries, the committee asked about the doubling of grants to IMS (from ₹165 crore in 2020-21 to ₹305 crore in 2021-22) and whether there was any move to convert IMS into a full-fledged AIIMS. The committee raised concerns over the reported privatisation of CT scan and cardiac catheterisation & intervention (CCI) lab facilities at IMS-BHU, pointing out that NMC guidelines require such services to be institution-owned. It also questioned the prolonged tenure of the professor-in-charge of the trauma centre and whether the IMS director had written to the acting VC regarding their removal. The committee has also demanded the status and reports of internal probes such as the Prof Jyoti Shukla committee on the blood bank and the Prof PS Tripathi committee on the ₹104-crore GEM procurement for the emergency centre. It also flagged alleged irregularities in the lottery-based admissions to Central Hindu Schools (affiliated to BHU) for both boys and girls.
Mint
5 days ago
- Business
- Mint
Harpal Singh Randhawa: The Indian outlier who defied geography to build an African fortune
Next Story Sundeep Khanna Harpal Singh Randhawa carved a $5 billion fortune in Africa, a continent often overlooked by his peers. Harpal Singh Randhawa. Gift this article 'Pick yourself up and dust yourself off, get back in the saddle." 'Pick yourself up and dust yourself off, get back in the saddle." —from Shakira's Waka Waka (This Time for Africa) Shakira's 2010 FIFA World Cup anthem, which celebrated Africa's rising spirit, is a fitting metaphor for Harpal Singh Randhawa's audacious journey from the plains of Punjab to Zimbabwe's volatile mining fields. Unlike most other global Indian entrepreneurs chasing Western markets, Randhawa carved a $5 billion fortune in Africa, a continent often overlooked by his peers. His story, marked by calculated risks and resilience, ended abruptly and tragically in a plane crash when he was just 60. But he leaves behind a complex legacy that invites both admiration and some scrutiny. From Punjab to Zimbabwe Born on 9 August 1963, in Punjab, Randhawa was shaped by discipline at home and ambition outside it. After his schooling at The Lawrence School in Sanawar, he went on to pursue chartered accountancy in England. Also Read | How CR Bhansali exploited India's NBFC blind spots in the 1990s Subsequently, blending his father's military grit with sharp business instincts, he became an entrepreneur. His sister, Iqrup Dhamija, too, became a noted interior designer, reflecting the family's creative and driven ethos. Randhawa's son, Amer Kabir Singh Randhawa, a Stanford computer science graduate and pilot, inherited the same spirit but tragically died with his father in the crash. Randhawa's choice of Africa as his entrepreneurial canvas was bold and contrarian. In the early 1990s, as India's economy liberalized, spawning dozens of startups, he founded the Global Emerging Market Group (GEM), a private equity (PE) firm that invested in over 100 companies worldwide. By the time he passed away, the PE firm had amassed a $4 billion asset base. But it was the politically turbulent and economically unpredictable Zimbabwe, which finally threw off its colonial yoke only in 1980, that became his karmabhoomi. It is difficult to say if zeroing in on Zimbabwe was the bet of a visionary on untapped potential or a gambler's risky move in a region fraught with instability, but his success certainly suggests foresight. Randhawa's vehicle of growth was RioZim, a diversified mining group listed on the Zimbabwe Stock Exchange, which he bought into through GEM. From gold and diamonds to coal, nickel, and copper, his portfolio, spanning the Renco and Cam and Motor gold mines and the Murowa diamond mine, reflected strategic diversifications to serve as a hedge against market fluctuations. Unlike peers chasing quick profits, Randhawa invested in long-term asset management, navigating Zimbabwe's resource nationalism and forging complex partnerships. Through it all, his ability to read the shifting sands of power in the country set him apart. Mining in Africa often treads a fine line between opportunity and exploitation. While Randhawa's long-term vision fostered growth, the environmental and social impacts of his operations remain underexplored. RioZim also failed to live up to its promise as one of the country's top gold producers and, as of 2024, posted its fifth successive annual loss. His legacy That's not to deny Randhawa's success in building wealth. His estimated $5 billion net worth at the time of his death placed him in a rare league of African billionaires, alongside figures like South Africa's Patrice Motsepe, a mining magnate and philanthropist, and Indian-born entrepreneur Prateek Suri. Unlike Motsepe, whose public philanthropy softened his image, Randhawa operated with less fanfare, giving little thought to personal branding. Unfortunately, while his understated approach contrasts with the outsized personalities dominating the narrative of India's new billionaire class, it also leaves gaps in understanding his broader impact. In the past, Indian-origin entrepreneurs in Africa have faced unique challenges, including balancing local integration with a global mindset. Randhawa's skilful navigation of these waters, the ability to thrive under unfamiliar legal regimes, social expectations, and economic cycles, is a great lesson for wannabe entrepreneurs keen on treading less conventional paths. Sadly, on 29 September 2023, a RioZim-owned Cessna 206 bound for the Murowa mine crashed, killing Randhawa, his son Amer, and all aboard. The tragedy cut short an unusual career that was marked by risk-taking and the choice of roads less travelled. Randhawa's story challenges the narrative of global Indian success tied to Western hubs like Silicon Valley. Also Read | Alagappa Chettiar's legacy of fortune and philanthropy His legacy is that of an outlier who created opportunity in Africa's complexity, a reminder that the world's most compelling business stories often emerge in unexpected places. Topics You May Be Interested In Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
