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Asia
The Hindu BusinessLine

AP Govt to implement 100 per cent housing programme by 2029: CM Naidu

The NDA government in Andhra Pradesh will achieve 100 per cent housing in the State, according to Chief Minister N Chandrababu Naidu. Speaking after laying the foundation stone along with Union Minister for Rural Development Shivraj Singh Chouhan in Tenali for the construction of 3 lakh houses across the state under Pradhan Mantri Awas Yojana–Gramin (PMAY-G) 2.0 at Burripalem in the Tenali constituency on Sunday, he said the Centre had initially sanctioned only 75,000 houses to Andhra Pradesh under the regular quota. However, following a special request, the Union Government had sanctioned 3 lakh houses. Union Minister Shivraj Singh Chouhan had agreed to sanction another 3 lakh houses as soon as the current batch was completed and an additional 3 lakh houses next year, taking the total allocation to 9 lakh houses, he added. The Chief Minister said the present government had renewed its commitment to constructing quality houses for the poor. As part of this initiative, 3D concrete printing technology would be introduced on a pilot basis at Burripalem. After successful completion of 3D technology houses, construction of 5000 houses will be taken up with the same technology to make Andhra Pradesh a role model in the 3D technology housing programme, he said. Addressing the meeting, Union Minister Shivraj Singh Chouhan said Andhra Pradesh was emerging as one of the leading States in the country. He assured that the Centre would sanction another 3 lakh houses even before the ongoing construction of 3 lakh houses was completed. He also promised an additional 3 lakh houses for Andhra Pradesh, taking the total commitment to 9 lakh houses. Highlighting the support extended to farmers, Chouhan said the Centre was providing ₹6,000 annually to each eligible farmer under the PM-KISAN scheme, while the Andhra Pradesh government was adding another ₹14,000 under Annadata Sukhibhava, taking the total annual assistance to ₹20,000. The NDA-led Central and State governments were now working together to put Andhra Pradesh firmly on the path of progress and prosperity, he added, according to a release. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

AP Govt to implement 100 per cent housing programme by 2029: CM Naidu
Asia
The Hindu BusinessLine

Maneka Gandhi turns entrepreneur; launches vegan pet food brand ‘Woofly’

Maneka Gandhi is turning to the pet-food business to create a source of income for animal welfare that can endure beyond her lifetime, starting with Woofly, a ₹40 per 100 gram vegan dog-food brand. The first offering from Gandhi-owned Compassion Foods is manufactured at a third-party vegan-only facility in Jaipur. Gandhi traced the idea back more than four decades. At 23, she used money (₹8 lakh) left to her by her late husband to build an animal shelter and hospital on what was then the outskirts of Delhi. “We didn’t even have an architect,” she recalled. Built gradually over the years, the facility near Rajouri Garden today spans four acres, employs 130 people including 11 doctors, and cares for between 4,000 and 5,000 animals. For years, animal welfare work was sustained through donations and fundraising initiatives. “But the point is that we can’t just do that,” she said. “It has to be a steady source of income that does not depend on one-off events.” “Something has to be done to sustain it,” Gandhi said. “Long term, I want to build more shelters. How do we do that? Where do we get the money from?” Each ₹40 packet contains 100 grams of powder that expands to roughly 300 grams when mixed with water and can be served with rice. “It’s a Maggi noodle concept,” Gandhi said. Woofly is produced at a vegan-only facility in Jaipur, which Gandhi said developed the formulation at its own cost. “It took us four years of mistakes,” she said. The company is initially targeting pet owners as well as people who regularly feed community dogs. Gandhi is particularly focused on what she calls the “chicken-rice market” individuals who feed stray dogs rice mixed with inexpensive chicken leftovers. “This doesn’t work for me,” she said. “I don’t believe that one animal should be fed to another.” Woofly is set to be available through platforms such as Zepto, Amazon and Flipkart, while discussions are underway with Shiprocket for distribution. The brand will also be sold through its own website. Importantly, Gandhi said profits from Compassion Foods will ultimately support People for Animals, the animal welfare organisation she founded. Woofly is only the first step. Gandhi plans to expand the portfolio with foods formulated for older and diabetic dogs, followed by Meowly, a taurine-fortified vegan cat food. “Cats have special nutritional requirements; therefore, we are ensuring that Meowly can meet those requirements without the addition of meat or any animal product,” she said.

Maneka Gandhi turns entrepreneur; launches vegan pet food brand ‘Woofly’
Europe
BBC Business

Faisal Islam: The two big decisions the chancellor must make

Image source, AFP via Getty ImagesByFaisal IslamEconomics editorPublished27 September 2026, 00:00 BST"It is tough," John Healey admitted to me earlier this month when I asked him if there had been too much doom-mongering? "Conflicts, uncertainty, driving up inflation, driving up interest rates. But we've got great strengths. We've got good reasons to be confident about the future of Britain," he insisted. The new scheme to try and help young people get on the property ladder, announced on Saturday, was aimed at boosting confidence in the economy. But the chancellor is now facing two big decisions before his inaugural Budget on 28 October. Firstly, about the longevity of the economic pressures caused by the Iran War, and then about how to sustain a modest but notable uptick in economic spirits, through yet more global turbulence. In his first weeks as chancellor the oil price fell as low as $75 a barrel while the yield - the effective interest rate - on 10-year government bonds was 4.9%. Just over two months later oil has largely traded above $100 and the 10-year yield is at around 5.4%. It is the ultimate double whammy for a chancellor facing his first Budget. Yet there is something unusual about this energy shock. It could quickly reverse, as illustrated earlier in the summer when assumptions about a deescalation in the US Iran conflict led to sharp falls in energy prices and yields. In New York this week both President Trump and his Iranian counterpart President Pezeshkian suggested November's US midterm elections were connected to when the war might end. The Iranians would wait until after the elections to seek peace because the war's impact on the cost of living - particularly soaring diesel costs - could damage him electorally, the US president told the UN General Assembly. The 3 November vote is six days after the Budget. No one could rely on there being a settlement by then, but it is plausible. So the Budget tax, spend and borrowing forecasts could be based on a prolonged conflict, which is actually on the cusp of ending, or even already ended.

Faisal Islam: The two big decisions the chancellor must make
Asia
The Hindu BusinessLine

Kozhikode set to emerge as Keralam’s next major IT destination

Keralam is aiming to position Kozhikode as a major IT destination alongside Thiruvananthapuram and Kochi, Chief Minister V D Satheesan said, while laying the foundation stone for the ₹600-crore HiLITE Cyber Tower at Cyberpark, Kozhikode. The project, he said, would showcase Kerala’s cost-effective and skilled talent pool to global investors. The government would extend full support to investments that promote innovation and development, while encouraging investors and entrepreneurs to contribute to the State’s growth. Spread across 2.5 acres, the Grade-A commercial development will have a built-up area of 9 lakh sq ft. It is part of HiLITE Group’s larger plan to develop 12 million sq ft of office space over the next few years. The project is expected to create more than 10,000 direct IT jobs and cater to multinational corporations, high-growth start-ups and advanced research and development centres. It is scheduled for completion in two years, with space expected to be released ahead of completion, said P Sulaiman, Chairman, HiLITE Group. Industries Minister P K Kunhalikutty said Kozhikode was poised to emerge as Kerala’s next major IT destination, following the growth of Technopark in Thiruvananthapuram and Infopark in Kochi. He said the creation of employment opportunities for the younger generation would depend on the growth of industries and enterprises. The government would support efforts to transform Kozhikode, which has a long trading history, into a globally recognised IT and industrial hub. “Kerala has the talent and ambition to compete globally, and we need an ecosystem that gives businesses the space to grow alongside it,” said Ajil Muhammed, CEO, HiLITE Group. The Cyber Tower, he added, was part of the group’s effort to create an environment that enables businesses to innovate and expand in Kerala. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Kozhikode set to emerge as Keralam’s next major IT destination
Asia
The Hindu BusinessLine

From a nation of savers to a nation of investors: NSE bets on technology, financialisation and market depth

With retail participation surging and demat accounts scaling new highs, India’s capital markets are entering a new phase of growth. In an interview with businessline, NSE Chairman Srinivas Injeti and MD & CEO Ashishkumar Chauhan said the focus is now shifting from merely expanding the investor base to deepening the financialisation of household savings. They expect NSE’s future growth to be driven by a broader ecosystem spanning equities, bonds, data, technology and global connectivity, while positioning India as an emerging global financial hub powered by innovation and market depth. India has seen a sharp rise in demat accounts and retail participation. What are the next big milestones for Indian capital markets? The next phase is not merely about adding more demat accounts. The larger objective is to deepen financialisation by encouraging broader participation in equities, bonds, mutual funds and ETFs. We also need greater market penetration beyond large cities and increased participation by SMEs in raising growth capital through capital markets. Exchanges have a major role to play in making markets more accessible, transparent and resilient. Ultimately, the goal is to help India move from being a nation of savers to a nation of investors, while strengthening financial literacy and investor protection. The three biggest opportunities are the growth of India’s economy and capital markets, increasing financialisation of household savings, and advances in technology and globalisation, including opportunities through GIFT IFSC. On the risk side, investor trust and market integrity remain paramount. Technology and cyber risks require constant vigilance as markets become increasingly digital. Another key challenge is adapting to regulatory and market developments without compromising investor protection. Long-term value creation must come from strengthening the broader market ecosystem rather than relying on any single source of transaction revenue. It is important to look beyond the perception that NSE is purely options-driven. Weekly options account for around 46 per cent of NSE’s revenue, while the balance comes from equities, futures, monthly options, indices, market data, terminals and other businesses. Our effort is to broaden the revenue base further through products such as electricity futures, bond-index futures, Electronic Gold Receipts and expanded market-data and technology offerings. Derivatives will remain an important part of price discovery and risk management, but future growth should increasingly come from multiple asset classes and technology-led businesses. Regulators have tightened norms around retail participation in derivatives. How has this changed market behaviour? Such measures should primarily be viewed through the lens of investor protection and market quality. The objective is to ensure participation is informed, sustainable and backed by proper risk awareness. The market is adapting to changes in weekly options and retail participation norms. While weekly options remain important, monthly options and futures continue to play a significant role. We are also seeing investors become more sophisticated as technology improves access to information. Our responsibility is to support this transition through investor education, transparent information and resilient market infrastructure. We do not view products, technology, data and connectivity as separate silos. They reinforce one another. Data and technology have significant long-term potential because they can scale across markets and geographies without depending solely on trading volumes. New products such as Electronic Gold Receipts can also create opportunities by improving transparency and market-based price discovery. Growing demand for real-time data, analytics and portfolio-management tools is expected to further strengthen this segment. Over time, NSE can evolve from being primarily a transaction marketplace into a broader financial-market technology and information platform. The shift was aimed at bringing India-related price discovery closer to home through GIFT IFSC. The objective was not simply to relocate a trading benchmark, but to create an international venue within India where global investors could access India-related products through a regulated ecosystem. Global investors will continue to use multiple financial centres, but the key achievement is that India now has a credible international platform attracting global liquidity. The long-term ambition is for India to become not just a recipient of global capital, but increasingly a price setter and a financial-market hub. Competition should be measured by whether investors receive better products, lower friction, stronger innovation and greater efficiency. NSE’s market share reflects the liquidity, scale and technology that market participants have chosen, but that also creates a responsibility to continually raise standards. Our benchmark is increasingly global. New asset classes, technology investments and innovation in data and connectivity can deepen market development. Ultimately, competition that benefits investors strengthens the entire financial system.

From a nation of savers to a nation of investors: NSE bets on technology, financialisation and market depth
North America
CNBC Finance

‘It's awful’: How tariffs, soaring fuel costs and higher interest rates are squeezing American companies

Fewer, pricier flights. Freight surcharges. Manufacturers hoarding inventory. Even bankruptcy. For American companies large and small, the combination of tariffs imposed under President Donald Trump's trade policies, surging fuel prices from the Iran war and, now, rising interest rates is forcing executives to make tough choices. Allen Eden has been holding onto extra inventory for his 25-person business, the Original Saw Co. in Britt, Iowa, which makes industrial power saws for wood and metalwork, as he grapples with spiking prices for aluminum, steel and essential parts. One example: A "little bracket" used for his saw motors more than doubled in price this summer, surging to $87 from $42, he said. "It's awful," Eden, 56, told CNBC. "[I'm] just trying to keep more of the stuff around because I don't know if we can get it down the road." It's a three-way squeeze for businesses across manufacturing, transportation and retail: Tariffs are making raw materials and goods more expensive. Higher fuel prices are pushing up the cost of making and moving them. And rising rates are making it more expensive to finance the inventory and equipment businesses need to keep running. While few sectors are completely insulated from these pressures, middle-market manufacturers are caught in a particularly tight vise. Rising steel and fuel costs are forcing them to pass at least some of those expenses on through higher prices, helping feed the stubborn inflation of the past few years. But to wrangle inflation, the Federal Reserve raised interest rates for the first time in three years and signaled another hike is possible this year. That makes it more expensive for businesses to finance inventory and borrow for growth at the same time that higher input costs and record prices for diesel, which is used for trucking, squeeze margins. Price increases for Eden's saws, sold both to megaretailers like Home Depot and directly to small- and medium-sized manufacturers, look inevitable, the business owner said. The pain isn't being evenly distributed. Smaller companies typically rely on shorter-term lending, meaning Fed hikes pass more directly into their costs, JPMorgan Chase global strategy head Dubravko Lakos-Bujas said in a Sept. 14 note. But regardless of size, capital-intensive sectors like manufacturing and equipment suppliers, logistics firms including trucking fleets, and commercial real estate also suffer more in a rising-rate environment, according to Lakos-Bujas. "The combination of higher rates and higher fuel prices means that sectors with heavy exposure to both are first in the line of fire," said Gregory Daco, chief economist at EY-Parthenon, the global consulting arm of Ernst & Young.

‘It's awful’: How tariffs, soaring fuel costs and higher interest rates are squeezing American companies
Asia
The Hindu BusinessLine

NCLAT allows oppression, mismanagement plea against office-bearers of film producers' body IMPPA

Appellate tribunal NCLAT has dismissed appeals by the Indian Motion Picture Producers Association (IMPPA) against an NCLT order that allowed minority members of the film producers' body to pursue an oppression and mismanagement case against its office-bearers. The National Company Law Appellate Tribunal (NCLAT) held that the minority members had satisfied the threshold requirement under Section 244(1)(b) of the Companies Act, 2013 for waiver and found no infirmity in the NCLT's decision to allow the petition. "If we analyse the finding recorded by NCLT, it did prove the fact to justify the exercise of its discretion to initiate the proceedings under Section 241 and 242 of the Companies Act, and while dealing with the specific pleading, NCLT had taken into consideration the apparent act of mismanagement and oppression which were apparently made out for grant of waiver," the NCLAT said. With this, the NCLT will now hear the petition under Sections 241 and 242, which deal with oppression and mismanagement, on merits against IMPPA, the oldest and largest association of film producers in India, established in 1937. A three-member bench of NCLAT also closed all pending interlocutory applications filed in this. Sections 241 and 242 of the Companies Act deal give wide powers to the tribunal, which include removal of the managing director, manager or any of the directors of the company and recovery of undue gains. Section 244(1)(b) of the Companies Act, 2013 requires that an oppression and mismanagement petition against a company without share capital be backed by at least one-fifth of its total members; however, NCLT can waive this requirement. The dispute stemmed from allegations by certain members of IMPPA, a Section 8 company without share capital, regarding alleged misuse and diversion of funds, unapproved operational expenditure, irregularities in circulation of notices and minutes of executive committee meetings, non-compliance with provisions of the Articles of Association in maintenance of accounts, illegal appointment of two senior vice-presidents and unlawful suspension and expulsion of members. The petitioners had approached the NCLT alleging oppression and mismanagement, and had also sought an investigation under Section 213. The petition was supported by consent letters from 209 members. IMPPA challenged the maintainability of the said petition, contending that the waiver application was filed only after it raised objections and therefore the company petition could not be entertained. It contended that IMPPA had around 26,000 members and at least 250 valid consents were required, while only 209 members had supported the petition. It also further alleged that a large number of consenting members were not eligible to vote, that the consent had not been informed and that several signatures were forged. NCLAT rejected IMPPA's argument, observing that a voters' list circulated by IMPPA on April 1, 2022 for its own elections showed 977 eligible voting members, and that the association had not challenged the validity of that circular. On that basis, 209 consents satisfied the one-fifth requirement under Section 244(1)(b).

NCLAT allows oppression, mismanagement plea against office-bearers of film producers' body IMPPA
Europe
BBC Business

Andy Burnham refuses to back third runway at Heathrow

Image source, ReutersByDearbail JordanBusiness reporterPublished33 minutes agoPrime Minister Andy Burnham has refused to say whether he backs a third runway at Heathrow after it emerged that the expansion of the London airport could be delayed by up to four years. Burnham - who, as Mayor of Greater Manchester, opposed the project - told Sunday With Laura Kuenssberg: "I think principally, it's a matter for London and Londoners." He added: "I think we ought to hear the voice of people there first. It's not right for me to just jump straight in on the back of the consultation." Former Chancellor Rachel Reeves had championed the runway to boost the economy, with a schedule to open by 2035 but Heathrow indicated on Saturday it may not be operational before 2039. As Manchester's mayor, Burnham had been against the project over concerns that it would delay investment in transport for the north. When he took office, he said he was "open-minded" about the scheme. As he prepared for his first annual Labour Party conference as prime minister, Burnham said: "There's a consultion but there are different views and you have to take those views seriously in coming to a decision." In response, Heathrow said: "We agree with the prime minister that local voices must be heard. We know from consistent polling over the last decade that communities support our plans for expansion and support is only growing over time." The project, estimated to cost £33bn, has attracted opposition from environmental campaigners and local resident groups as well as Mayor of London Sadiq Khan. A third runway would mean demolishing hundreds of homes, diverting rivers and rerouting a section of the M25 motorway through a tunnel. But it is estimated it would create 100,000 jobs and provide a major boost to the UK economy. The number of flights from the site, currently capped at 480,000 a year, could go up to 720,000, or nearly 2,000 a day on average. Sharon Graham, Unite's general secretary said: "A third runway at Heathrow is essential and we need to get going with it.

Andy Burnham refuses to back third runway at Heathrow
Europe
BBC Business

'Proteinflation': Meet the people paying up to £100 for a bag of protein

The 30-year-old, who lives in London and works in banking, started going to the gym at a time when he says protein supplements were mostly associated with bodybuilders. Fourteen years later, shakes are still part of his routine, but they have become considerably more expensive. By last year, the price had gone up to £120, though he managed to get one from eBay for £90. Among his gym friends, the rising prices have even been given a nickname – "proteinflation". Over the years, protein powders and shakes have attracted a much broader customer base, while food manufacturers now offer high-protein versions of everything from bagels to water. The 19-year-old University of Manchester student began using it a few months ago because she felt she wasn't getting enough protein in her diet. But at £32.99 for a 420g tub, she's feeling the high price and tries to make the product stretch. Max Longman, 32, from Manchester, works in real estate and has been taking protein supplements for 10 years, originally to help him gain weight. He now drinks a protein shake every day and says his monthly spending on whey protein has risen from around £45 a year ago to £60 now. "Loads of foods have protein added to them now. Up until a few years ago, I'd never heard of high-protein yoghurt, and now I eat it three or four times a week," he says. More recently, weight-loss drugs such as Wegovy and Mounjaro have added another source of demand. People taking these drugs typically eat less, and are often encouraged to make sure they get enough protein while losing weight to help preserve muscle.

'Proteinflation': Meet the people paying up to £100 for a bag of protein