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Business Standard

Govt announces steps to resolve shipping related problems of traders

The government on Thursday announced steps, including reducing certain charges at ports and purchase of five additional second-hand container vessels by SCI, to resolve shipping sector-related problems of exporters and importers. These measures were announced after a meeting of all the concerned stakeholders of the international trade segment, including senior officials of ministries like commerce and industry, shipping, ports, finance, civil aviation and railways; apex exporters body FIEO (federation of Indian export organisations), customs officials, freight forwarders, transport operators and shipping companies. Exporting community and experts have flagged shipping sector issues which are hurting the country's exports, which has contracted by 9.3 per cent in August. The issues figured in the discussions include container shortage, surge in ocean freight rate and shipping cost, shipping delays at the Indian ports, and turnaround time at the ports. Briefing media after the ...

Business Line

Labour Ministry probes death of 26-year-old Pune-based EY Global employee

Labour Ministry has officially taken up the complaint, says MoS Karandlaje in a social media post.

The Economic Times

Social media users lack control over data used by AI, US FTC says

YouTube, social media platform X, Snap, Discord and Reddit were also included in the FTC report, though its findings were anonymised and did not reveal specific companies' practices. YouTube is owned by Alphabet's Google.

The Economic Times

Dubai-based GXR acquires media rights to European football leagues for India

Galaxy Racer (GXR), a Dubai-based transmedia company, has secured media rights for LaLiga, Serie A, Ligue 1, and Ligue 2 in the Indian subcontinent starting from the 2024/25 season. The matches will be streamed live and free-to-air, enhancing fan engagement through GXR’s innovative Super App.

The Economic Times

Update makes X available again to many in Brazil

Social-media platform X became accessible to many users in Brazil after an update circumvented a Supreme Court block order. The update used third-party cloud services, allowing access without a VPN. The number of users accessing X is unknown. Anatel is working to notify providers to block access again.

Business Standard

Nazara Tech to raise Rs 900 crore; ups stake in Absolute Sports to 91%

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore. Nazara also announced increasing its stake in Absolute Sports to 91 per cent. The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said. "The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara's financial foundation for long-term expansion," it said. Nazara acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crores, with 50 per cent of the consideration paid in cash and the remaining

The Economic Times

Cabinet clears establishment of National Centre of Excellence for animation, VFX

The government in its statement on Wednesday said the AVGC-XR sector plays an indispensable role in the entire realm of media and entertainment including filmmaking, over the top (OTT) platforms, gaming, advertisements and several other areas including health, education and other social sectors.

Business Standard

Subsidy on P&K fertilisers to raise farmers' income: Agri Minister Chouhan

Union Agriculture Minister Shivraj Singh Chouhan on Wednesday said the government's decision to provide subsidy of Rs 24,475 crore on phosphatic and potassic (P&K) fertilisers for rabi season would help reduce input cost for farmers and enhance their income. He also welcomed the Cabinet's approval to continuation of Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) scheme till 2025-26 with an outlay of Rs 35,000 crore. Welcoming the decision of subsidy on P&K nutrients, Chouhan said in a social media post on 'X', "this will ensure availability of fertilisers to farmers at affordable rates". The Cabinet's decision would also give new impetus to the government's commitment to reduce production cost, increase income of farmers and make farming a profitable business, the minister added. Chouhan said the PM-AASHA scheme will not only help in giving remunerative prices to farmers for their produce but will also control the price volatility of essential commodities. The ...

CNBC TV18

Nazara Technologies raises stake in Sportskeeda parent to over 90% with ₹145.5 crore deal

With this transaction, Nazara's total ownership in Absolute Sports increases to 91%, further solidifying its leadership position in the sports media landscape.

The Economic Times

Cabinet approves setting up of National Centre of Excellence for Animation on lines of IITs, IIMs

The Union Cabinet has approved the establishment of the National Centre of Excellence for Animation, Visual Effects, Gaming, Comics and Extended Reality in Mumbai. This initiative aims to position India as a global content hub, enhance soft power, and attract foreign investments in the media and entertainment sector.

Mint

Edelweiss MF's Radhika Gupta bats for SIPs again, ‘I would love to hear young people say…’

Edelweiss MF chief Radhika Gupta again encouraged young Indians to invest in monthly SIPs, posting on social media that she would love to hear stories of their financial growth.

Mint

Glare on SME IPOs leads to first listing postponement

BSE postponed Trafiksol ITS Technologies' listing due to investor complaints regarding the use of ₹44.87 crore raised. The company must retain the funds in escrow until issues are resolved. Concerns arose from a social media post about questionable financial practices linked to the IPO.

The Economic Times

Network18's merger with TV18 and E18 gets NCLT approval

The move comes ahead of the merger of the India media businesses of RIL and Walt Disney to create the country's largest media and entertainment company, which recently got approvals of the Competition Commission of India (CCI) and NCLT. E18 and TV18 will be dissolved without winding up once their merger with Network18 gets the final approval from the Ministry of Information and Broadcasting (MIB).

Business Standard

Modi 3.0 100 days: Commerce ministry takes steps to support MSME exporters

The commerce ministry has taken a host of steps during the 100 days of the Modi 3.0 government for MSME exporters who are facing global challenges due to geo-political tensions. The measures included launching of 'Trade Connect e-Platform' to empower SMEs by giving them access to information and guidance on trade, the commerce ministry said on Tuesday. This platform will connect these enterprises to over six lakh IEC (import-export code) holders, 185 Indian Mission officials and over 600 Export Promotion Council members with the Department of Commerce. Briefing the media, Commerce Secretary Sunil Barthwal said that in the first 100 days, the ministry held meetings with exporters to understand their problems and find ways to resolve those issues. "This e-connect portal will provide all sorts of information to an exporter," he said adding for MSME and other exporters, this portal will become a single point by which they can explore new geographies for shipments. The secretary said t

Business Standard

Donald Trump launches cryptocurrency venture World Liberty Financial

Republican presidential nominee Donald Trump launched his family's cryptocurrency venture, World Liberty Financial, with an interview on the X social media platform in which he also gave his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial on Monday or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf heard shots being fired in the air, and I guess probably four or five. I would have loved to have sank that last putt, Trump said. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of ..

Business Standard

Network18 Media & Investments gets 3 months extension for convening AGM

Network18 Media & Investments, which owns Reliance Industries' media assets, has received a three-month extension for convening its Annual General Meeting for FY24. The Registrar of Companies (RoC) on Tuesday granted its approval for extension of time for holding the AGM, accepting the application of the company, according to a regulatory filing from Network18 Media. Reliance is in the process of merging its media assets, including Network18 with global media giant The Walt Disney Co India business, which will create the country's largest media empire worth over Rs 70,000 crore. "This is to inform you that pursuant to the application filed by the company for extension of time for holding the 29th AGM of the company for financial year 2023-2024, Ministry of Corporate Affairs (office of the Registrar of Companies, Mumbai ) vide its order dated September 17, 2024, granted its approval for extension of time for holding the AGM," it said. Media ventures of Reliance are housed in ...

Business Standard

Enhanced credit guarantee coverage to profit 2.7 mn women-led MSMEs: Manjhi

Women-owned micro and small enterprises will get enhanced credit guarantee coverage of 90 per cent under the CGTMSE scheme, after its board approved the new guidelines last week, Union Minister Jitan Ram Manjhi said on Tuesday. The decision is expected to benefit 27 lakh women-led MSMEs, he said. This is a significant step towards improving access of women entrepreneurs to collateral free-credit from banks. Prior to the approval of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Board, women-owned units were entitled to getting 80 per cent credit guarantee coverage. Talking about the enhanced guarantee coverage of 90 per cent, the minister said "27 lakh women-led MSMEs are expected to benefit from this initiative". Briefing the media on the achievements of the Ministry of Micro, Small and Medium Enterprises in the first 100 days after the Narendra Modi-led government returned to power at the Centre, Manjhi said a grand programme is being organised in Wardh

The Economic Times

Facebook owner Meta bans Russia state media outlets over "foreign interference"

The company, which owns Facebook, WhatsApp and Instagram, said late Monday that it will roll out the ban over the next few days in an escalation of its efforts to counter Russia's covert influence operations.

Business Standard

Quick Wrap: Nifty Media Index registers a drop of 1.19%

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Business Standard

Nifty ends above 25,400; realty shares outperform

The domestic equity indices ended with minor gains on Tuesday. The Nifty settled above the 25,400 level after hitting the days low of 25,352.25 in morning trade. Realty, consumer durables and auto shares advanced while media, PSU bank and metal stocks declined.

The Economic Times

Internet is worse than it used to be. How did we get here, and can we go back?

Your social media feeds are full of eye-catching, provocative, hyper-targeted, or anger-inducing content, from bizarre AI-generated imagery to robot-like comments. You're lucky if your video feeds are not solely made up of exhortations to "subscribe".

Business Standard

Broader mkt underperforms; media shares under pressure

At 10:30 ST, the barometer index, the S&P BSE Sensex was down 47.44 points or 0.06% to 82,941.34. The Nifty 50 index shed 4.10 points or 0.02% to 25,379.65.

The Economic Times

Buy PVR INOX, target price Rs 2065: Anand Rathi

PVR INOX Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 16583.95 Crore) operating in Media & Entertainment sector.

Mint

Meta bans Russian state media like Rossiya Segodnya, RT and others from its apps for ‘foreign inteference activity’

Meta is banning RT and other Russian state media from its platforms, citing deceptive tactics for influence operations. The ban will be enforced globally across apps like Facebook and Instagram, following U.S. actions against RT employees for alleged election interference.

Mint

‘Remember that platform fee you pay:’ Porsche, Lamborghini & BMW parked at Zomato office draw social media attention

An Instagram reel featuring luxury cars outside Zomato and Blinkit offices has gone viral, gaining 1.2 million views.

The Economic Times

Hinduja Group entity issues high yield bonds to partly fund Reliance Cap buy

The company invited bids from investors earlier in the day and received bids from high-net-worth investors, family offices and domestic private credit funds, the bankers said requesting anonymity as they are not authorised to talk to the media.

Hindustan Times

Rupert Murdoch's real-life 'Succession' drama kicks off in Nevada courtroom: 10 things to know

A closed-door court battle over control of Rupert Murdoch’s media empire could determine the future of Fox News and the Wall Street Journal.

Mint

Edelweiss' Radhika Gupta shares insights about improving relationship with money: ‘Can’t get myself to buy a luxury car’

Edelweiss Mutual Fund's head Radhika Gupta, in a recent social media post, elaborates on her relationship with money, her statement about not being able to buy a fancy car, people's fears and insecurities about saving and spending, and more.

Business Standard

Sensex, Nifty end with minor gains; media shares outperform

The domestic equity indices ended with limited gains on Monday. The Nifty closed above the 25,350 mark after hitting the days low of 25,336.20 in early afternoon trade. Media, metal and realty shares advanced while FMCG, IT and pharma shares declined.

Business Standard

Indices trade sideways; media shares in demand; VIX rises 1.61%

At 12:30 IST, the barometer index, the S&P BSE Sensex was down 12.3 points or 0.01% to 82,878.62. The Nifty 50 index rose 0.65 points to 25,357.15.

Business Standard

Kohinoor Foods Ltd leads gainers in 'B' group

Media Matrix Worldwide Ltd, Aarti Surfactants Ltd, Oswal Green Tech Ltd and Arihant Capital Markets Ltd are among the other gainers in the BSE's 'B' group today, 16 September 2024.

Business Standard

PM Modi participate in renewable energy investor's meet in Gujarat tomorrow

Taking to his social media handle, Prime Minister Modi posted on X, "After memorable programs in Jharkhand, I landed in Ahmedabad a short while ago

The Economic Times

ISA launches media charter to enhance transparency in digital ad ecosystem

The Indian Society of Advertisers (ISA) has launched the ISA Media Charter to enhance transparency, security, and collaboration in India's digital advertising ecosystem. The initiative includes four playbooks on brand safety, viewability, ad fraud, and first-party data. Key stakeholders attended the launch event, which featured a panel discussion on leveraging consumer data responsibly.

Business Standard

India key priority market; reels, biz messaging supercharging growth: Meta

Social media giant Meta counts India among its key priority markets globally, as the rising popularity of its offerings - from Reels to business messaging - and increased engagement on AI tools is supercharging growth, according to Meta India Vice President Sandhya Devanathan. In an interview with PTI, Devanathan said India is the leading market for short-form video Reels' watch-time on Instagram. The Facebook and Instagram parent Meta is upbeat about the pace and extent to which Reels has caught on with creators and brands alike. "Reels is big for Meta globally, but Reels is certainly huge for Meta in India," Devanathan said. Having recognised the power of Reels in influencing buying decisions, brands are including it early in their campaign blueprint and customer outreach plans, Devanathan said. According to her, Reels is now in the consideration set for brands as they conceptualise their campaigns, marking a big shift in the way campaigns are being designed. "Not only are we se

Business Standard

IndiGo passengers wait inside plane as Mumbai-Doha flight faces tech issue

Passengers of an IndiGo flight from the city to Doha waited inside the aircraft for more than four hours as the flight was delayed due to a technical issue on Sunday. Some passengers took to social media to complain about the long flight delay and that they had to wait for long. The flight was to take off on Sunday early morning. Passengers were inside the aircraft for more than four hours before they deplaned. The flight is now expected to take off later in the day from the Mumbai airport, sources in the know said. IndiGo said its flight 6E 1303, operating from Mumbai to Doha, was delayed due to a technical reason. "The aircraft tried to depart for its destination a couple of times but had to finally be called off due to the extended time lag on account of various procedural delays," the airline said in a statement. While apologising for the inconvenience, IndiGo said its airport team immediately provided assistance to the affected customers and provided refreshments and necessa

Hindustan Times

Trump can only watch as his media stake takes a $4 billion dive

The paper fortune that former President Donald Trump amassed by taking a nascent media startup public is shriveling and a race to exit could shrink it even more

Hindustan Times

Brazil judge withdraws $3.3 million from Elon Musk's Starlink and X to pay for social media fines

The move by Justice Alexandre de Moraes was to collect what Elon Musk's X owes to the country in fines, with bank accounts of the two companies being unfrozen

Business Standard

Nazara Tech board to mull fund raising on Sep 18

The gaming and sports media firm announced that its board is scheduled to meet on Wednesday, 18 September 2024 to approve fund raising by issuance of equity shares/securities of the company on preferential basis.

The Economic Times

US dollar drops to near 9-month low versus yen amid talk of larger Fed rate cut

The U.S. dollar dropped to its lowest level in nearly nine months against the Japanese yen amid speculation of a potential 50-basis-point interest rate cut by the Federal Reserve. Market expectations shifted following media reports and comments from a former Fed official. The dollar also weakened against other major currencies, while U.S. consumer sentiment showed improvement.

The Economic Times

X unlikely to fall under landmark EU tech rules

Elon Musk's X social media platform is unlikely to be subjected to the EU's landmark tech rules under the Digital Markets Act. The European Commission had investigated X, but it does not meet the criteria of having over 45 million monthly active users and a market capitalisation of 75 billion euros.