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28/01/2025

India's hospitality industry is urging for infrastructure status, GST rationalisation, and digital reforms to boost its growth and competitiveness globally. Key demands include granting infrastructure status to hotel projects over Rs 10 crore to lower financing costs, and reducing GST on hotel rooms above Rs 7,500 to 12% to attract international visitors. The industry also seeks a simplified GST compliance system for online travel agencies and more investments in Tier-II and III cities. With foreign tourist arrivals still below pre-pandemic levels, experts highlight the need for skill development, public-private partnerships, and a digital single-window platform for hotel licences to drive growth.

28/01/2025

Chinese telecom company TP-Link has partnered with local contract manufacturer Optiemus Electronics to produce its networking and smart home products in India. The Noida-based Optiemus will manufacture a range of TP-Link’s key telecom and IoT products, including GPON, security cameras, home Wi-Fi routers, enterprise routers, modems, and other network expansion devices. The collaboration aims to strengthen TP-Link’s presence in the Indian market while boosting local manufacturing capabilities.

28/01/2025

DeepSeek, a Chinese AI app, made a significant impact on global tech stocks on Monday, soaring to the top of Apple's App Store productivity category and surpassing ChatGPT in key markets. Its R1 AI model is hailed for matching or exceeding the capabilities of ChatGPT and Google's Gemini at a fraction of the cost, and it's offered for free, unlike ChatGPT's limited free version. Perplexity CEO Aravind Srinivas congratulated DeepSeek, while Microsoft CEO Satya Nadella emphasized the need to take developments from China seriously. Marc Andreessen of Andreessen Horowitz described it as "AI's Sputnik moment," signaling a potential shift in global AI competition.

28/01/2025

Retail credit growth in India slowed in Q2FY25, with affordable housing and low-cost two-wheeler loans seeing the sharpest declines, according to the TransUnion Cibil credit market indicator report. Loans for affordable housing (up to Rs 35 lakh) fell by 12%, while two-wheeler loans under Rs 75,000 dropped 10%. However, higher-value loans, such as home loans above Rs 1 crore and two-wheeler loans above Rs 1.5 lakh, grew by 19% and 11%, respectively, indicating a shift toward higher-income borrowers. Personal loans and credit cards saw growth, with credit card balances rising 34%. Delinquencies for consumption-driven loans, however, increased.

28/01/2025

Indian stock markets are expected to open cautiously on Tuesday, following weakness in global equities. The Sensex and Nifty 50 ended Monday's session with significant losses, dropping over 1% each. The US markets saw mixed results, with the Nasdaq suffering its largest drop since December 18, primarily due to concerns over a low-cost Chinese AI model, DeepSeek, which caused a sell-off in tech stocks like Nvidia. While Asian markets also traded lower, the Nifty futures indicated a positive start for Indian indices. Investors will watch for upcoming Q3 results, the US Federal Reserve's stance, and India's Budget announcements.

28/01/2025

As Mahakumbh 2025 continues in Prayagraj, skyrocketing flight fares have prompted many travelers to seek alternative routes. Searches for flights to nearby Varanasi, such as from Mumbai and Bengaluru, have surged, as fares to Prayagraj remain high. For instance, direct flights to Prayagraj from cities like Delhi and Mumbai range from ₹24,000 to ₹53,500, while flights to Varanasi are about 50% cheaper. After reaching Varanasi, travelers can take buses, trains, or cabs to Prayagraj, which is over 100 km away. The Mahakumbh Mela, ongoing until February 26, is drawing millions of pilgrims.

28/01/2025

At the 2025 Republican Issues Conference in Miami on January 27, former President Donald Trump reiterated his call to abolish income tax in the US, advocating for a return to the pre-1913 tariff system that he claimed made America wealthier. Trump argued that tariffs, rather than income tax, were responsible for the nation’s prosperity, citing the period between 1870-1913 as the "richest" in US history. He proposed taxing foreign nationals instead of US citizens, to enrich the American public. While Trump has consistently supported this idea, economists remain skeptical of tariffs as an effective tool for raising revenue.

28/01/2025

US tech giant NVIDIA faced a sharp decline in stock price on Monday, dropping over 17% and losing more than $600 billion in market cap. This plunge followed concerns over a new AI model from Chinese startup DeepSeek, seen as a competitive threat to established players like OpenAI and Meta Platforms. NVIDIA shares opened at $124.80 and hit an intraday low of $116.70. Experts cite fears surrounding DeepSeek’s low-cost AI as the primary driver behind the sell-off, which spread to global markets, including a weakened Asian stock market. Analysts recommend a cautious approach for investors amid growing uncertainty in the tech sector.

25/01/2025

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24/01/2025

The Enforcement Directorate (ED) has launched an investigation into eight payment gateways, including Paytm, RazorPay, PayU, and Easebuzz, in connection with a massive cryptocurrency scam linked to the HPZ Token app. The scam allegedly raised over ₹2,200 crore from investors across 20 Indian states. The accused, 10 Chinese nationals, are accused of using these payment gateways to route illicit funds out of India.

The ED has frozen ₹500 crore across the involved gateways, with PayU having the largest share of ₹130 crore. The investigation is focusing on tracking fund flows, identifying suspicious transactions, and examining whether proper reports were filed by the gateways.

24/01/2025

Gold and silver prices in India have seen slight fluctuations recently across various cities. Here's a quick overview:

Gold Price:

Lucknow: ₹82,269 per 10 grams (up from ₹81,429 on 23-01-2025)
Chandigarh: ₹82,262 per 10 grams (up from ₹81,422 on 23-01-2025)
Amritsar: ₹82,280 per 10 grams (up from ₹81,440 on 23-01-2025)
Silver Price:

Delhi: ₹99,500 per kg (unchanged from 23-01-2025)
Jaipur: ₹99,900 per kg (unchanged from 23-01-2025)
Lucknow: ₹1,00,400 per kg (unchanged from 23-01-2025)
Chandigarh: ₹98,900 per kg (unchanged from 23-01-2025)

24/01/2025

Paytm's share price dropped by over 8% on Friday, falling as much as 8.84% to ₹773.90 per share, following reports that the company and seven other payment gateways are under investigation by the Enforcement Directorate (ED) for their alleged involvement in a cryptocurrency scam. The ED has frozen approximately ₹500 crore in virtual accounts related to these payment gateways over the past two years. The scam, orchestrated by 10 Chinese nationals through the HPZ Token app, reportedly defrauded investors of over ₹2,200 crore across 20 states, promoting cryptocurrency mining investments.

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