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Economy

A worker prepares the stage during the listing ceremony for the IPO of One97 Communications, operator of PayTM, at the Bombay Stock Exchange, in Mumbai on 18 November 2021 | Photographer: Dhiraj Singh | Bloomberg

BlackRock, Canada Pension bought more Paytm stocks after early tumble

Any sign that influential money managers like BlackRock are doubling down on Paytm may help ease concern about the sustainability of an Indian stock-market boom.
A pile of coins representing Bitcoin cryptocurrency | Photo: Chris Ratcliffe | Bloomberg

More than half of Indians don’t want cryptocurrency legalised, survey shows

A LocalCircles poll showed 54% of the people surveyed don’t want the government to legalise cryptocurrencies but instead to tax them like a digital asset held in a foreign country.
Freight wagons laden with coal sit at the Tori station operated by Indian Railways and funded by Coal India Ltd in Jharkhand, on 17 May, 2018. | Photographer: Prashanth Vishwanathan/Bloomberg

Coal India warns of ‘inevitable’ price hike to combat higher costs

The state-run company is facing pressure from high diesel prices and an increase in salaries of employees due retroactively from July.
A pile of coins representing Bitcoin cryptocurrency | Photo: Chris Ratcliffe | Bloomberg

Modi govt to consider allowing crypto trading for some investors

The bill to be presented by the central govt in Parliament may stipulate a minimum amount for investments in digital currencies while banning their use as legal tender.
File photo of the Outer Ring Road in Bengaluru | PTI

Bengaluru best city for jobs & economic growth, Kolkata worst — Niti Aayog’s SDG Urban index

Overall, Shimla, Coimbatore & Thiruvananthapuram have topped the Niti Aayog's SDG Urban Index, while Dhanbad & Meerut are the worst performers.

Hinduja family feud puts their century-old business empire in jeopardy

The increasingly bitter feud has raised the possibility of a messy unraveling of the $18 bn British-Indian group, which employs over 150,000 people in 38 nations.

Services, manufacturing & exports keep India on course to post world’s fastest growth

Demand during the festive season has helped keep momentum rolling. Data due 30 November will probably show July-September GDP grew 8.2% from a year ago.
Representational image | Photo: Dhiraj Singh | Bloomberg

These IPOs are under extra scrutiny after Paytm’s disaster debut

Paytm shares have fallen about 30% since it started trading, with a slight rebound Tuesday. Planned smaller IPOs could have a harder time pricing shares now.
Representational image of wheat sacks at a warehouse | ANI

Why legal guarantee for MSP — the other demand of protesting farmers — is a lose-lose proposal

After the repeal of farm laws, protesting farmers now want govt to make MSP a legal guarantee for all 23 crops covered under the safety-net framework.
Blackrock headquarters in New York | Representational image | Photographer: Jeenah Moon | Bloomberg

World’s biggest asset manager BlackRock trimming investments in India, more optimistic on China

BlackRock has rejigged its Asia-focused portfolios to have more neutral positions on China, up from underweight, and narrowed its underweight call on internet services companies.

On Camera

YourTurn

Twitter has an India-born CEO Parag Agrawal. In Pakistan, it has caused a burn

We look forward to overseas Pakistanis cooking on wood, explaining gas shortage in Pakistan. These are inflation CEOs. Unmatchable against Google, Twitter CEOs.

Jet Airways in talks with Boeing, Airbus for 100 aircraft in revival bid

The winning bidders for Jet Airways plan to start flights in the first three months of next year. The potential revival will be the first for any airline under India’s bankruptcy laws.

Defence

Ministry of Defence building

Armed forces get breather from negative list, can import items in ‘immediate’ cases

A committee chaired by Gen. Bipin Rawat will oversee indigenisation efforts, and recommend the removal of items from the negative import list if needed.

What farm laws retreat by Modi govt tells us about ruling India like a CM with brute majority

No matter how dominant BJP is, India is a federation of states and it has CMs in only 12. Agriculture is largely a state issue, and most of India doesn’t follow it unquestioningly.
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