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India suspends visa services in Chittagong

India has indefinitely suspended operations at its Indian Visa Application Centre (IVAC) in Chittagong (Chattogram), Bangladesh, citing security concerns following recent civil unrest. The suspension took effect on December 21, 2025. The centre will remain closed until further notice, and all visa applications from Chittagong are currently on hold. Applicants are advised to use other operational centres or await official updates.

The decision comes in the context of heightened political instability in Bangladesh after the death of youth leader Sharif Osman Hadi, who was fatally shot during a political rally in Dhaka on December 12. His death triggered demonstrations and localized unrest, including incidents targeting Indian diplomatic premises in Chittagong.

Reports from the region indicate vandalism and stone-pelting near the Indian Assistant High Commission’s residence, prompting authorities to implement enhanced security protocols. While the Chittagong centre remains closed indefinitely, other Indian visa centres in Bangladesh, including Dhaka, Khulna, Rajshahi, and Sylhet, continue operations under heightened security measures.

The Indian Ministry of External Affairs has reaffirmed its commitment to ensuring the safety of diplomatic missions and personnel. Visa services in Chittagong will resume only after a thorough assessment of local security conditions. Applicants are advised to monitor official communications from the IVAC for updates before planning travel.

Bangladeshi authorities are coordinating with Indian officials to maintain robust security measures around diplomatic facilities. The situation continues to be closely monitored, and additional precautionary measures may be implemented as required.

This strategic decision reflects India’s adherence to international diplomatic protocols and underscores the priority placed on staff safety and operational integrity. By temporarily halting services in Chittagong, the government ensures that visa processes are conducted under secure conditions, safeguarding both personnel and applicants.

Also Read: PM Modi inaugurates Adani-operated new terminal at Guwahati Airport

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Corporate

Gujarat Kidney IPO opens at ₹108–₹114 to raise ₹251 crore

The initial public offering (IPO) of Gujarat Kidney & Super Speciality Ltd opened on December 22, 2025, with a price band of ₹108–₹114 per share. The three-day issue will close on December 24, 2025, and is entirely a fresh issue aimed at raising around ₹250.8 crore. The funds will be used for expanding hospital operations, acquiring other healthcare facilities, investing in medical equipment, and general corporate purposes.

The IPO is being offered in lots of 128 shares, meaning the minimum investment for retail investors is approximately ₹14,592. The shares are expected to be allotted on December 26, and trading is likely to begin on December 30, 2025, on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

In the grey market, the shares have a premium of about 6%, suggesting a possible listing price near ₹121 per share at the upper band. Analysts see modest gains but remain cautious due to current market conditions and the IPO’s valuation.

Gujarat Kidney & Super Speciality operates seven hospitals and four pharmacies across central Gujarat, focusing on renal care, urology, orthopaedics, cardiology, gynaecology, and critical care. The company has a total bed capacity of 490, with 340 beds operational, and employs nearly 90 doctors, 330 nurses, and 300 support staff.

Financially, the company has shown strong growth. For the year ended March 31, 2025, total income reached approximately ₹40.4 crore, up from ₹5.48 crore in FY24. Profit after tax rose to ₹9.5 crore, and EBITDA margins improved to around 41%, reflecting efficient operations.

However, the IPO is priced on the higher side, with a pre-IPO P/E of about 61.6 times FY25 earnings, above the industry average. Analysts suggest cautious investors may wait for post-listing price movements before applying.

The raised funds will help the company acquire Parekhs Hospital in Ahmedabad, increase its stake in Harmony Medicare in Bharuch, establish a new facility in Vadodara, and upgrade medical infrastructure. Investors are advised to weigh the growth prospects and execution risks carefully before subscribing.

Also Read: India halts visa services in Chittagong

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Beyond

Gold at ₹1,34,170/10g, Silver at ₹2,13,900/kg

Gold prices in the Indian market edged lower on Monday. 24-carat gold slipped by ₹10 to trade around ₹1,34,170 per 10 grams in major cities. 22-carat gold also eased by ₹10 and was priced near ₹1,22,990 per 10 grams.

Silver prices followed a similar trend. The metal fell by about ₹100 to around ₹2,13,900 per kilogram in the domestic market, reflecting mild profit-taking.

In global markets, precious metals remained firm. Silver prices overseas touched record highs above USD 67 per ounce, supported by strong safe-haven demand amid geopolitical tensions and global economic uncertainty. Gold prices in international markets also held steady.

Analysts have warned that the coming days could be volatile for gold and silver prices. With markets entering the holiday season, trading volumes are expected to be thin. Experts say this can lead to sharp price swings or short-term dips, even with limited trading activity.

Investors are also watching key US economic data releases, which may influence global gold and silver prices.

Overall, while Indian gold and silver prices saw small declines, global cues and low holiday trading could keep markets volatile in the near term.

Also Read: Sensex rises over 450 points, Nifty crosses 26,100

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Corporate

Sensex rises over 450 points, Nifty crosses 26,100

Indian equity markets opened on a strong note on Monday, December 22, with benchmark indices posting solid gains in early trade. The BSE Sensex rose over 450 points, while the NSE Nifty 50 moved past the 26,100 level, supported by positive global cues and broad-based buying across sectors.

Market sentiment remained upbeat as investors returned to equities after recent volatility. Buying interest was seen across large-cap, midcap and select small-cap stocks, indicating improved confidence. All major Nifty sectoral indices were trading in positive territory, led by financials, information technology, metals and capital goods stocks.

Heavyweight stocks played a key role in lifting the benchmarks. Shares of Shriram Finance, Infosys, Hindalco, Tata Steel and Trent emerged as some of the top gainers, rising between 2 and 3 percent in early trade. Strength in banking and financial stocks further supported the rally, as investors bet on stable interest rates and improving liquidity conditions.

On the downside, a few stocks showed mild weakness despite the overall positive trend. Mahindra & Mahindra, SBI, Tata Consumer Products and Max Healthcare were among the stocks trading slightly lower, though losses remained limited due to strong broader market sentiment.

The rally was driven by a combination of factors, including firm global markets, a recovery in the rupee, and renewed foreign investor interest. Expectations of supportive global monetary conditions and easing inflation pressures also helped improve risk appetite among investors.

Market participants said the strong opening reflects optimism ahead of year-end, with investors selectively adding quality stocks after recent corrections. Analysts, however, advised caution at higher levels and suggested tracking global developments and upcoming macroeconomic data for further direction.

Also Read: Fortis Healthcare to acquire Bengaluru’s People Tree Hospital for ₹430 cr

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Corporate

Adani banks on ‘group of airports’ policy to boost NMIA

Adani Airports Holdings Ltd is placing strong emphasis on the Centre’s ‘group of airports’ policy to scale up operations at the upcoming Navi Mumbai International Airport (NMIA), which is scheduled to begin commercial services on December 25. The policy allows two or more airports in a region to be managed as a single system, enabling coordinated capacity planning, tariff alignment and smoother distribution of air traffic.

Jeet Adani, director at Adani Airports, said NMIA is not just an additional airport but a structural solution to Mumbai’s long-standing aviation constraints. Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) operates with a single runway and has been handling traffic well beyond its designed capacity, particularly during peak hours. By integrating NMIA and CSMIA under the group-of-airports framework, authorities aim to ease congestion while supporting sustained growth in passenger and cargo traffic.

One of the key elements under review is a unified tariff structure for both airports. This would ensure that airlines and passengers are not discouraged from using NMIA due to cost differences, enabling a more balanced distribution of flights. The integrated approach is also expected to help airlines plan schedules more efficiently across the two airports.

In its initial phase, NMIA will operate for limited hours with a modest number of flights, gradually expanding to round-the-clock operations. International flights are expected to follow in the later stages. The airport will also take over general aviation and business jet operations currently handled at Mumbai airport, freeing up valuable slots at CSMIA for commercial flights and improving overall safety and efficiency.

Beyond aviation, NMIA is being positioned as a major economic hub for the Mumbai Metropolitan Region. Adani Airports plans to develop commercial infrastructure around the airport, including logistics, retail and support services, which are expected to generate significant employment opportunities.

With the group-of-airports policy at its core, NMIA is envisioned as a long-term solution that will not only decongest Mumbai’s overburdened airport but also future-proof the region’s aviation growth for decades to come.

Also Read: Nvidia acquires SchedMD, launches open-source Nemotron 3 AI

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Corporate

Nvidia acquires SchedMD, launches open-source Nemotron 3 AI

Nvidia is making a strong push into open-source artificial intelligence by acquiring SchedMD, the company behind the widely used Slurm workload manager, and unveiling a new family of AI models called Nemotron 3. These moves aim to expand access to AI tools for developers, researchers, and enterprises.

SchedMD develops Slurm, an open-source system that manages computing tasks across clusters and supercomputers. Nvidia’s acquisition will integrate Slurm into its AI and high-performance computing systems, but the company has assured users that Slurm will remain open-source and hardware-neutral. This ensures that research institutions and businesses can continue using and customizing the software freely.

Alongside this, Nvidia introduced Nemotron 3, which includes three models: Nano, Super, and Ultra. Nano is designed for efficient execution of smaller tasks, Super supports applications with multiple AI agents, and Ultra handles complex workloads requiring high performance. Nvidia has also released datasets, frameworks, and tools to help developers train, test, and adapt these models.

A key feature of Nemotron 3 is transparency. Nvidia is providing not just the model weights but also training data and the development framework. This openness allows developers to customize the models for different applications and contribute to their improvement.

The Nemotron 3 models are designed to deliver higher accuracy and faster performance while being flexible enough for deployment on cloud platforms and integration with popular open-source environments.

By combining Slurm’s infrastructure with open-source AI models, Nvidia is strengthening its role in the AI ecosystem. The company aims to foster collaboration, innovation, and accessibility, supporting developers and enterprises in building AI applications more efficiently and transparently.

Also Read: Google launches Pixel upgrade program in India

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Corporate

Kingfisher airlines staff get Rs 312 cr dues after 12 years

Former employees of defunct Kingfisher Airlines will finally receive long-pending dues worth about Rs 312 crore, more than 12 years after the airline shut operations in 2012.

The Enforcement Directorate (ED) has released the amount to the official liquidator following an order by the Debts Recovery Tribunal in Chennai.

The funds were recovered from the sale of assets attached during investigations against the airline and its promoter, Vijay Mallya. The payout will cover unpaid salaries, provident fund contributions and other statutory benefits, bringing long-awaited relief to thousands of former staff.

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Corporate

Nike struggles in China as sales slide persists

Nike, one of the world’s leading sportswear brands, is facing growing challenges in China, a market that has long been key to its global growth. For the sixth straight quarter, sales in China have fallen, signaling that the company’s efforts to revive growth are not yet working. Footwear revenue dropped nearly 20%, while online sales fell sharply, by about 36%.

The slowdown comes despite Nike’s attempts to refresh its product lineup and clear out older stock. The company has reduced discounts and promotions to encourage full-price purchases, but this approach has weighed on profit margins.

China now accounts for around 15% of Nike’s total revenue, but the market is becoming increasingly competitive. Local brands such as Anta and Li‑Ning are gaining ground, offering popular and affordable alternatives that are drawing consumers away from international labels like Nike. High tariffs and excess inventory have also put pressure on the company’s profits.

Nike executives have described the Chinese market as complex and dynamic, noting that a clear timeline for a turnaround is not yet visible. Analysts say part of the weak sales is by design, as Nike works to sell slow-moving inventory before new launches. However, they also note that the company will need fresh strategies to regain market share and consumer attention.

The ongoing slowdown has affected investor confidence, with Nike’s share price showing signs of stress this year. The company’s leadership acknowledges that a reset in strategy is required, focusing on better stock management, targeted marketing, and addressing local competition.

As Nike navigates this difficult period, the coming months will be critical in determining whether the brand can stabilize its performance in China, restore growth, and compete effectively against rising domestic competitors.

Also Read: Trump strikes drug price deal with 9 pharma giants

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Corporate

Trump strikes drug price deal with 9 pharma giants

On December 19, 2025, US President Donald Trump announced landmark agreements with nine leading pharmaceutical companies to reduce the cost of prescription medicines in the United States. The companies involved include Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech (Roche), Gilead Sciences, GSK, Merck, Novartis, and Sanofi.

Under these deals, participating companies have agreed to lower prices for drugs purchased under Medicaid and for patients paying out of pocket, bringing US prices closer to those in other wealthy nations. The agreements also introduce “most‑favoured‑nation” pricing, ensuring new medicines sold in the US will not be priced higher than in comparable countries.

As part of the initiative, the administration plans to launch TrumpRx.gov in January 2026, an online platform that will allow patients to access discounted drugs directly from manufacturers. The platform targets individuals without insurance or those facing high out-of-pocket costs, offering a more affordable route to essential medications.

Some companies have also pledged additional support. For instance, Bristol Myers Squibb will provide its widely used blood thinner, Eliquis, for free to Medicaid recipients. Others will donate raw materials and emergency medical supplies to a national reserve.

In exchange for these concessions, the pharmaceutical firms receive a three-year exemption from potential new tariffs that had previously been under consideration. The Trump administration describes these agreements as a major step toward tackling the high cost of medicines in the US, which historically remains higher than in most other developed nations.

However, experts have cautioned that while these deals may lower costs for some patients, especially the uninsured or low-income, the majority of Americans with standard health insurance may see limited immediate savings.

This move follows earlier agreements earlier in 2025 with Pfizer, AstraZeneca, Eli Lilly, and Novo Nordisk, reflecting a broader strategy by the administration to negotiate drug prices directly with manufacturers rather than imposing strict price controls.

With TrumpRx.gov and these pricing deals, the administration aims to make prescription drugs more affordable and accessible, signaling a major policy push on one of the US’s most pressing healthcare issues.

Also Read: Indian Pharma stocks up 5% after US Biosecure Act

Categories
Beyond

India–China trade gap to hit $106 billion

India’s trade gap with China is expected to grow further and may reach $106 billion in 2025, according to the Global Trade Research Initiative (GTRI). The estimate shows that India remains heavily dependent on Chinese imports, even though exports to China are slowly improving.

GTRI says India’s exports to China could rise to about $17.5 billion in 2025. This is better than the low point of $14.5 billion in 2023, after exports fell steadily from 2021. However, export levels are still much lower than earlier years and are not enough to reduce the overall trade gap.

Imports from China, on the other hand, are growing much faster. India’s imports are projected to reach nearly $123.5 billion in 2025, mainly due to strong demand for industrial and high-technology products. Because imports are rising much more than exports, the trade deficit has widened sharply from about $64.7 billion in 2021 to the projected level.

The report notes that India buys a narrow range of goods from China. Nearly 80 per cent of imports come from sectors such as electronics, machinery, chemicals, plastics, and engineering products. These include important items like mobile phone parts, semiconductors, laptops, solar panels, lithium-ion batteries, and other components needed for manufacturing and renewable energy.

While these imports help Indian industries run smoothly, they also show weaknesses in India’s supply chains. GTRI says India lacks enough domestic capacity in advanced manufacturing, forcing companies to depend on Chinese suppliers. Replacing these imports in the short term is difficult.

The government has recognised the concern. The Commerce and Industry Ministry has said the deficit is mainly due to imports of raw materials, intermediate goods, and capital equipment used by Indian industries. An inter-ministerial group is studying trade trends and ways to increase exports and reduce reliance on one country.

Although exports to China sometimes rise sharply in certain months due to products like naphtha and electronics, experts warn these gains are limited and short-lived.

GTRI concludes that without stronger manufacturing at home and more diversified exports, India’s trade imbalance with China will remain high in the coming years.

Also Read: SAT grants interim relief to Avadhut Sathe Trading Academy