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Meanwhile, sources told CNBC-TV18 that Tata Power is eying the privatisation of two discoms based in Uttar Pradesh. On the political front, the Delhi assembly election campaign is heating up with key leaders, including former Chief Minister Arvind Kejriwal, filing nominations.
We also have breaking updates on the global front, including a potential breakthrough in Israel-Hamas ceasefire talks and rolling announcements from President-elect Donald Trump.
Rupee rebounds from all-time low to post best gain in over 7 months
The Indian rupee bounced back on Wednesday (January 15), recovering from an all-time low, supported by a weaker dollar and robust dollar sales by foreign banks.
The rupee closed at 86.3625 against the US dollar, gaining 0.3%, marking its largest single-day rise since June 3, 2024, according to Reuters. The currency had slipped to 86.6475 in the prior session, hitting a record low.
Also read: Jahangir Aziz expects RBI rate cut in February, says dollar has priced in only 6-7% of tariff hikes so far
Jahangir Aziz, Head of Emerging Markets Economics Research at JPMorgan, expects a 100 basis points (bps) rate cut by the Reserve Bank of India (RBI) in 2025, with the first cut likely in February.
Exports contract 1% in December; trade deficit narrows to about $22 billion
India’s trade deficit narrowed to $21.94 billion in December after last month’s shocking surge to a lifetime high on the back of miscalculations in gold imports, government data showed on Wednesday.
Exports contracted for the second month in a row by about one per cent year-on-year to $38.01 billion due to global uncertainties, while imports rose by about 5% to $59.95 billion.
Tata Power submits bids for privatisation of two Uttar Pradesh discoms: Exclusive
Tata Power Ltd. may have submitted bids for privatisation of two discoms based in the state of Uttar Pradesh, sources with knowledge of the matter told CNBC-TV18.
The two discoms in focus include Dakshinanchal Vidyut Vitran Nigam Ltd. and Purvanchal Vidyut Vitran Nigam Ltd.
Uttar Pradesh has invited bids for advisors on a Public Private Partnership (PPP) model for two discoms earlier this week on January 12. The tender aims to enable public-private partnership for privatisation of the two discoms.
‘Beijing may be holding back critical equipment meant for Indian electronics manufacturers’: Meity Secy
Meity Secy was speaking at AI Forward – A joint initiative by CNBC-TV18 & EY.
He explained that the industry had expressed concern that import of capital goods, critical for electronics manufacturing, were being constrained. Industry players like Foxconn had raised concerns that capital equipment, which were being imported from China, were held up in multiple ports in China for several months.
The industry had expressed concern that while the delays had not impacted production yet, any further disruptions could jeopardise future production and expansion plans.
PM Modi commissions three frontline naval combatants in Mumbai — Watch video
Prime Minister Narendra Modi dedicated three frontline naval combatants — INS Surat, INS Nilgiri and INS Vaghsheer — to the nation on their commissioning at the Naval Dockyard in Mumbai on Wednesday (January 15). He said India is becoming a major maritime power.
“A destroyer, a frigate and a submarine were commissioned together for the first time. All three are ‘Made in India’,” PM Modi said.
The commissioning of the three major naval combatants marks a significant leap in realising India’s vision of becoming a global leader in defence manufacturing and maritime security, the PMO said.
Israel-Hamas ceasefire deal close to being agreed upon
The families of the 98 hostages held in the enclave are facing a mix of hope, fear as negotiators make a final push to seal an agreement between Israel and Hamas. Reports say, Hamas has accepted a draft agreement for a ceasefire & release of hostages.
Donald Trump to create ‘External Revenue Service’ to collect tariffs: How it will change US trade
President-elect Donald Trump has announced the creation of a new government agency called the External Revenue Service (ERS) to collect tariffs, duties, and other revenues from foreign sources. Trump revealed the plan on Truth Social, stating it would take effect on January 20, the day he assumes office for a second term.
Truth Social is a social media platform launched by the Trump Media & Technology Group (TMTG).
Core inflation rate slows to 3.2% in December; Dow futures surge 600 points
US inflation picked up last month as prices rose for gas, eggs, and used cars, yet underlying price pressures also showed signs of easing a bit. Wednesday’s (January 15) report from the Labor Department showed that the consumer price index rose 2.9% in December from a year ago, the highest since July. It was the third straight increase after inflation fell to a 3 1/2-year low of 2.4% in September.
Yet excluding the volatile food and energy categories, so-called core inflation declined to 3.2%, after remaining stuck at 3.3% for three months in a row. The slowdown in core price increases comes as a relief as many economists and investors have worried that inflation has gotten stuck above the Fed’s 2% target, after a steady decline in prices in 2023 and for much of last year.
Follow our live coverage on US markets and key data
Ola Electric’s market share drops to 18% as TVS, Bajaj lead with 48% combined
Ola Electric, once a dominant player in the Indian electric two-wheeler (e2W) market, has slipped to third place for the second consecutive month in January 2025. According to Vahan data as of January 15, Ola Electric recorded sales of 6,655 units in the first half of the month, translating to an 18% market share.
This marks a significant decline for Ola Electric from its position at the start of 2024 when it held nearly 50–52% market share, selling over 400,000 units and achieving a 35% share for the year.
Delhi Elections 2025: Kejriwal, Parvesh Verma among big guns file nominations
Several prominent leaders of the BJP and AAP, including Arvind Kejriwal, Parvesh Verma, Ramesh Bidhuri, Kailash Gahlot and Satyendar Jain, on Wednesday filed their nomination papers for the February 5 Delhi polls, intensifying the political battleground.
Aam Aadmi Party (AAP) convener Kejriwal, who is locked in a triangular fight against BJP’s Parvesh Verma and Congress’ Sandeep Dikshit from the high-profile New Delhi constituency, filed his nomination.
Check Delhi Assembly Election 2025 LIVE Updates
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