Category Archives: Business

India’s steel production grows 5.9% in April–June: Report

New Delhi, July 6: India’s steel production recorded a growth of 5.9% during the April–June quarter, according to a recent report.

The report said the increase was driven by strong demand from infrastructure, construction, and manufacturing sectors, along with steady domestic consumption. Improved capacity utilisation across steel plants also supported the upward trend.

It added that government-led infrastructure development and ongoing industrial activity continue to boost steel demand in the country. However, global price fluctuations and external market conditions remain key factors to watch in the coming months.

Overall, the sector’s performance reflects sustained economic activity and continued investment in core industries.

INR 2,000 Crore Impact Venture Fund, Among India’s Largest, Launched by Next Bharat Ventures

Strong advances growth to drive profitability of Indian banks: Report

New Delhi, July 6: Strong growth in bank advances is likely to remain a key driver of profitability for Indian banks, according to a recent report.

The report said expanding credit demand across retail, corporate, and small business segments is supporting overall loan growth in the banking sector. This momentum, combined with relatively stable asset quality and improving operational efficiency, is expected to strengthen earnings outlook.

It added that banks are benefiting from steady economic activity and rising consumption trends, which are boosting credit uptake across key sectors. However, the report cautioned that interest rate movements, global financial conditions, and credit risk in certain segments could influence future profitability.

Overall, analysts said the banking sector remains well-positioned for sustained growth, supported by healthy loan demand and a stable macroeconomic environment.

Cooperatives drive inclusive growth in India: Report

New Delhi, July 6: India’s cooperative ecosystem is emerging as a strong pillar of inclusive development, playing a growing role in supporting rural livelihoods and broad-based economic participation, according to a recent report.

The report highlighted that cooperative institutions across agriculture, dairy, credit, fisheries, and small-scale enterprises are helping improve access to affordable finance, fair markets, and essential services. This has particularly benefited farmers, rural households, and self-help groups by strengthening income opportunities at the grassroots level.

It added that ongoing policy support, institutional reforms, and increasing digital adoption have improved transparency, efficiency, and outreach within the cooperative framework. These developments have enabled cooperatives to function more effectively as community-driven economic units.

Experts noted that the cooperative model continues to contribute to balanced regional development by reducing disparities between urban and rural economies. They said its expanding role in employment generation, skill development, and value-chain integration is helping position it as a key engine of inclusive growth in India’s development landscape.

India’s deal value jumps 127 pc to four-year high in Q2: Report

India–New Zealand Trade, Travel Surge Ahead of FTA Rollout

July 6: Trade and tourism between India and New Zealand are witnessing strong growth ahead of the implementation of the proposed Free Trade Agreement (FTA) between the two nations.

Export volumes from India have increased in recent months, reflecting higher demand for Indian goods and services in overseas markets. At the same time, there has been a noticeable rise in visitor arrivals from India to New Zealand, driven by tourism, education, and business travel.

Officials from both countries said this upward trend signals growing confidence among businesses and travellers as economic ties continue to strengthen. They added that the upcoming FTA is expected to further reduce trade barriers, simplify customs procedures, and open new opportunities for exporters, investors, and service providers.

The agreement is also expected to boost cooperation in sectors such as agriculture, technology, education, and tourism, while improving market access for businesses on both sides.

Overall, the rising trade and travel activity highlights deepening economic engagement between India and New Zealand ahead of the formal rollout of the FTA.

Best Buy India Head Surendra Bashani inspires future leaders at NMIMS Bengaluru MBA Batch 17 inauguration

Bengaluru, July 06: SVKM’s Narsee Monjee Institute of Management Studies (NMIMS), School of Business Management (SBM), Bengaluru, officially welcomed the incoming cohort for its MBA Batch XVII (2026–2028) at its Bannerghatta campus during an inspiring orientation and inauguration program. This marks the beginning of a transformative academic journey for aspiring managers and change-makers who are poised to shape the future of industry and society.

The inauguration commenced with the traditional Deeksharambham ceremony, followed by the invocation, lighting of the lamp, and the singing of the NMIMS Anthem. The event brought together students, faculty, staff, alumni, and distinguished industry leaders to celebrate the commencement of the new academic session, introducing the fresh batch to SBM’s rigorous academic ecosystem, industry-oriented learning approach, and leadership development framework.

Addressing the incoming cohort the Chief Guest, Mr. Surendra Bashani, Head of Best Buy India, a seasoned global executive with decades of experience leading product, engineering, and business organizations, shared valuable perspectives on leadership, innovation, adaptability, and the vital importance of building high-performance teams in an increasingly dynamic corporate landscape.

Mr. Surendra Bashani, Head of Best Buy India, said: “The gap between corporate needs and academic learning is closing fast, and institutions like NMIMS are at the forefront of this evolution. To the MBA Batch of 2026–2028, the industry values leaders who bring a blend of technological adaptability and strategic problem-solving. I am confident that the rigorous environment here will prepare these minds to lead the next generation of global businesses.”

Welcoming the new batch, SBM Bengaluru leadership emphasized the importance of embracing learning beyond the classroom and developing the ethical grounding required to succeed in an increasingly interconnected and technology-driven business environment.

Dr. Narayani Ramachandran, Campus Director, NMIMS Bengaluru, stated: “At NMIMS Bengaluru, we don’t just teach business; we shape the leaders of tomorrow. As we welcome the MBA Batch of 2026–2028, our commitment remains fixed on delivering an education grounded in innovation, global perspectives, and strong ethical values. This new cohort represents the future of corporate leadership, and we are dedicated to providing them with the ecosystem they need to thrive.”

Reinforcing this vision, Dr. Narayani Ramachandran led the incoming batch in taking the Sustainability Oath, showcasing the institution’s deeply rooted commitment to responsible and sustainable leadership. The proceedings also featured an inspiring address by Dr. Mallika Srivastava, Program Chairperson, who highlighted the school’s commitment to combining academic rigor with industry relevance.

NMIMS School of Business Management, Bengaluru, follows the distinctive ‘One MBA, One Curriculum’ approach, ensuring a consistent and standardized learning experience across all NMIMS campuses. This integrated model guarantees that every NMIMS MBA graduate receives the same high-quality education, preparing them to excel in an increasingly competitive global business environment.

Sensex, Nifty extend 4-day winning streak as realty and auto stocks drive market rally

Mumbai, July 6: Indian equity benchmarks Sensex and Nifty extended their gains for the fourth consecutive trading session, supported by strong buying interest in realty and auto stocks.

The markets opened on a positive note and maintained upward momentum through the session, with sectoral strength in real estate and automobile shares leading the rally. Broader market indices also traded firm, indicating healthy participation across segments.

Analysts said investor sentiment has improved due to sustained domestic inflows and optimism in select sectors. Realty stocks gained on expectations of steady demand and strong project pipelines, while auto stocks advanced on hopes of stable sales trends and improving rural demand outlook.

However, market experts cautioned that global cues, including movements in crude oil prices, inflation trends, and overseas market performance, could influence near-term volatility. They also noted that intermittent profit booking may emerge after the recent multi-session rally.

Where Mumbai Gathers This Monsoon: The Fondue State Of Mind at Amelia

With every season, Amelia has given diners a new reason to return, creating limited-edition menus that capture the mood of the moment with imagination and intention. This monsoon, the restaurant continues that tradition with The Fondue State Of Mind, a seasonal offering that transforms one of Europe’s most cherished dining rituals into an experience designed for Mumbai’s rainy days and lingering evenings.

At the heart of the menu is fondue, a dish that has always been about bringing people together. Created to be shared, Amelia‘s collection of signature fondues invites guests to gather around the table, slow down and savour the simple pleasure of good food and even better company. From the timeless Swiss Cheese Fondue to the rich Truffle Mushroom Fondue, each pot is paired with accompaniments that make every bite a little different, before ending on a sweet note with the Chocolate Hazelnut Fondue.

The experience is complemented by a seasonal beverage menu inspired by the romance of the rains, featuring creations such as the warming Saffron Ember and the vibrant Monsoon Canopy, thoughtfully crafted to accompany the menu and the mood of the season.

More than a seasonal menu, The Fondue Affair celebrates the return of slow afternoons, shared tables and conversations that stretch well beyond the final course. It is Amelia‘s invitation to embrace the monsoon the way it was always meant to be enjoyed, together.

What: The Fondue State Of Mind at Amelia
Where: Amelia, BKC.
When: July onwards

Record Rental Activity Marks Strong Month for Dubai Real Estate

 Sales surge across all property segments as June takes Q2 deals to 38,157 worth AED110.2 billion

Dubai, UAE, July 06: The Dubai real estate market recorded a record number of rental contracts in June as property sales grew in value and volume month on month in another clear sign of growing confidence in the property sector.

A market analysis from fäm Properties today shows that 40,022 rental contracts were registered in June, making it the highest ever monthly total on record.

The volume of new contracts registered leapt 48.6% YoY to 19,245, while renewed contracts were up 28.5% YoY to 20,777, reflecting sustained demand across both new tenants and existing residents choosing to stay in Dubai.

Based on open data available from DXBinteract, June delivered 13,933 sales transactions valued at AED33.2 billion, a 35.5% MoM increase in volume and a 14.9% MoM rise in value.

This brought the total amount of sales transactions for Q2 to 38,157 deals worth AED110.2 billion, with an overall volume of 86,077 sales transactions worth AED286.2 billion for the first half of 2026.

“Buyers and tenants are showing a growing amount of confidence, and this is reflected in both rentals and sales, and across each of the property sectors,” said Firas Al Msaddi, CEO of fäm Properties.

“The consistent performance of Dubai South is what moves a location from emerging to established in buyers’ minds, and this is also a good sign for the market’s long-term direction.”

Month on month growth across each sector in June highlighted the market’s underlying strength and resilience as villa sales rose 46.5% MoM to 1,474 worth AED7.5 billion, with apartment sales climbing 32.3% MoM in volume to 11,605 worth AED17.8 billion.

In the commercial sector, including offices and shops, sales volumes climbed 42.7% MoM to 478 deals worth AED2.3 billion, while plot sales soared 68.3% in volume to 276 valued at AED5.4 billion.

Primary sales again dominated in June, with 10,398 transactions worth AED 21.6 billion compared with 3,535 valued at AED11.6 billion in the resale market.

For the fourth consecutive month, Dubai South ranked as the best-performing area in the emirate’s property sector, recording 2,869 transactions worth AED3.3 billion, an increase of 111% in volume and 106% in value MoM.

It was the eighth straight month in the top five for Dubai South, where growth has largely been driven by developer off-plan sales, reflecting genuine end-user and investor confidence in the government’s long-term development vision for this fully integrated, connected urban and business hub.

The most expensive apartment sold in June went for AED200 million at Bugatti Residences By Binghatti at Business Bay, while the most expensive villa fetched AED89 million at Eden Hills

With properties worth more than AED5 million accounting for 6.8% of sales, 8.3% were between AED3-5 million, 12.3% between AED2-3 million, 30.2% between AED1-2 million and 42.2% were below AED1 million.

TOP FIVE PERFORMING AREAS IN JUNE 2026

Transactions Sales value

Dubai South 2,869 AED3.3B

Jebel Ali First 1,153 AED1.4B

Al Barsha South Fourth 764 AED1.0B

Wadi Al Safa 5 526 AED815.3M

Al Thanya Fifth 497 AED1.4B

BEST-SELLING PROJECTS IN JUNE 2026

Primary market apartments

Primary market villas

Resale apartments

Resale villas