Sun.Oct 27, 2024

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PodChats for FutureCFO: Achieving sustainable growth and cost efficiency

Future CFO

As a rapidly developing nation, Indonesia faces unique sustainability challenges—from managing its natural resources to addressing social inequalities. The environmental, social and governance principles have become integral to the country's long-term growth and development strategies as business and policy-makers recognise the need to balance economic progress with environmental protection and social responsibility.

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RBI's rosy growth forecast baffles economists

CFO News

The Reserve Bank of India (RBI) maintains a positive growth forecast for India's economy, predicting a 7.2% expansion for the year ending March 2025. This is significantly higher than the government's projection of 6.5%-7% and investment banks like Goldman Sachs, which have lowered their estimates to 6.5%. The RBI attributes its optimistic outlook to improving rural spending and private investment, despite concerns over sluggish urban consumption and declining exports.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • America’s gullibility crisis : In the heat of this historic election, educated elites who should know better — billionaires, elected officials, journalists — keep falling for fakes, conspiracy theories and outright lies. Why it matters: Human gullibility is not a new phenomenon.

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Incentive package in works to push green steel manufacturing

CFO News

The steel ministry has begun discussions with the finance ministry on the proposed package, which will be rolled out in different phases, according to the officials. "Talks are on the contours of the incentives. A call will be taken soon," said one of the officials, who did not wish to be identified.

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From Curiosity to Competitive Edge: How Mid-Market CEOs Are Using AI to Scale Smarter

Speaker: Lee Andrews, Founder at LJA New Media & Tony Karrer, Founder and CTO at Aggregage

This session will walk you through how one CEO used generative AI, workflow automation, and sales personalization to transform an entire security company—then built the Zero to Strategy framework that other mid-market leaders are now using to unlock 3.5x ROI. As a business executive, you’ll learn how to assess AI opportunities in your business, drive adoption across teams, and overcome internal resource constraints—without hiring a single data scientist.

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What Q2 numbers say about FMCG health? Costs, quick commerce surge and climate hit

CFO News

Consumer companies saw mixed performances in the September quarter, with subdued urban demand affecting some, while others like Varun Beverages and Zomato thrived. Input cost inflation and climate change impacted profitability, but quick commerce growth and resilience in markets like Bangladesh provided some relief.

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Our cost supremacy will keep us ahead, any airline which sells tickets below their cost level will be out of business: IndiGo CEO Elbers

CFO News

IndiGo CEO Pieter Elbers addresses concerns over the airline's recent losses, emphasizing improved performance with reduced aircraft grounding and cost pressures, and expects traffic increase during the festive season. He highlights IndiGo's competitive edge and positive reactions to its new premium cabin.

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Bankruptcy court rejects plea to implement Zee-Sony merger

CFO News

The Mumbai bankruptcy court dismissed Phantom Studios India's application to enforce a merger between Zee Entertainment and Sony entities, as the companies' boards had already withdrawn the scheme. The tribunal emphasized that the minor shareholder's enforcement rights lapsed after board approval. The parties had previously agreed to a non-cash settlement, ending their disputes.

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Rs 8,000 cr GST scam shocker: 246 fake companies, 13 states and a mastermind— How did they pull it off?

CFO News

Police in Pune have registered a case against eight individuals, including mastermind Asraf Ibrahim Kalawadiya, for setting up 246 fake companies to evade GST worth Rs 5,000 crore to Rs 8,000 crore. The group used forged documents and fake firms to commit fraudulent transactions.

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Hyatt Hotels Corporation targets 100 hotels milestone in India over next 5-6 years

CFO News

Hyatt Hotels Corporation plans to nearly double its properties in India to 100 within 5-6 years, driven by the flourishing travel industry and high demand for quality hospitality. The company will introduce additional global brands and expand its existing portfolio in key locations.

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The 2025 State of Financial Automation

Financial automation isn’t the future—it’s the now. BILL partnered with SMB Group to survey 750 US financial decision-makers and reveal how small and midsize businesses (SMBs) are using trends and insights to tackle challenges and drive growth. The responses are eye-opening! Download our 2025 State of Financial Automation report to uncover: Key automation trends for 2025 and beyond Top concerns and attitudes about automation How AI is driving smarter, faster decisions The challenges of the finan

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Earnings from GST and VAT see marginal rise in Delhi

CFO News

Delhi's tax revenue from motor vehicle taxes and GST in the first half of 2024-25 is concerning. Motor vehicle tax revenue decreased slightly, while GST and VAT saw a marginal 6.4% increase. The Delhi government is making efforts to improve collection in the remaining fiscal year.

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Construction and agriculture drag India Inc's Q2 revenue growth to 5-7%: Crisil report

CFO News

Indian Inc's revenue growth slowed to 5-7% in Q2 of FY25, driven by poor performance in construction, industrial commodities, and agriculture. However, sectors like IT services, pharmaceuticals, and consumer discretionary saw strong growth, resulting in an overall EBITDA margin expansion of 21-21.5%.

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Tata Trusts plans to trim cost flab with fitter management; several roles to be done away with

CFO News

Tata Trusts is undergoing restructuring to streamline expenses by eliminating CFO and COO roles, reducing external consultants, and focusing on core philanthropic missions. The move aims to cut administrative costs following an internal audit and financial review, emphasising efficient governance and resource allocation.

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JSW Energy emerges top bidder for KSK Mahanadi Power

CFO News

JSW Energy emerged as the top bidder for KSK Mahanadi Power, offering Rs 15,985 crore and surpassing Adani Power’s Rs 15,885 crore bid. The auction saw six companies participate with JSW Energy securing the deal. The resolution requires further approval from lenders.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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EAM Jaishankar highlights India's foreign policy transformations

CFO News

External Affairs Minister S Jaishankar highlighted major changes in India's foreign policy over the past ten years. He emphasized the government's focus on the Indian diaspora's welfare and expanding global job opportunities for Indians. Jaishankar also mentioned efforts to attract foreign investments, citing Prime Minister Narendra Modi's meetings with CEOs in the US.

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PM to inaugurate Tata-Airbus C295 aircraft plant on Monday; facility set to bag orders for 12 more planes soon

CFO News

India had signed a contract with Airbus in 2021 to buy 56 C-295 transport aircraft of which 16 were to be directly sent from Spain while 40 had to be manufactured in India at Tata facility in Vadodara.

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Tweak rule to facilitate same-day settlement of FPI trades: Bankers

CFO News

Large multinational banks have requested that the RBI amend rules to enable same-day settlement of stock trades (T+0) for foreign portfolio investors in India. This change, aimed for late December or early January, necessitates a directive to allow banks to issue irrevocable payment commitments.

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Gold helps hold up forex reserves

CFO News

Since the beginning of the fiscal year, the Reserve Bank has increased its gold stock by 31.6 tonnes, raising its total to 853.6 metric tonnes by September 2024. This addition, along with a 25 percent rise in gold prices, has significantly bolstered reserves despite portfolio outflows post the Ukraine-Russia conflict.

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How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri

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How a Mumbai drugmaker is helping Putin get Nvidia AI chips

CFO News

Shreya Life Sciences in Mumbai exported Dell's advanced PowerEdge XE9680 servers containing Nvidia AI chips to Russia, bypassing Western sanctions. Malaysia emerged as the origin for these high-tech shipments. India's intermediary role in such exports has drawn concerns from the US and EU about Russia's military capabilities.

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Tatas to enter red-hot quick commerce space with ‘Neu Flash’

CFO News

Joining Flipkart and Reliance Industries, salt-to-software conglomerate Tata Group is set to enter the ever-growing quick commerce sector as customer demand rages in metros. People in the know said Tata’s ecommerce venture Neu will enter the fast delivery segment branded as Neu Flash. It will be rolled out to select users offering grocery, electronics and fashion.

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Germany and Spain eye P75(I) submarine project

CFO News

India's engagements with Germany and Spain center on niche defense collaborations, FDI, technology transfer, and manufacturing sector boosts. Both countries push for India's P75(I) submarine project. Germany ties with Mazagon Docks, Spain with L&T to impress India in enhancing its submarine fleet.