COMPANIES | PAGE 4 NEWS POINT | PAGE 20 Globalautoheavyweights tepidonIndiaEVspace INTERNATIONAL | PAGE 7 New CEO needs more than muscle memory to reviveVi BENGALURU, WEDNESDAY, AUGUST 20, 2025 'Tired' Putin may notwant a deal on Ukraine:Trump FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM READ TO LEAD VOL NO. XXXVIII 107, 32 PAGES, `12 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E SENSEX: 81,644.38 ▲ 370.63 NIFTY: 24,980.65 ▲ 103.70 NIKKEI 225: 43,546.29 ▼ 168.02 HANG SENG: 25,122.90 ▼ 53.95 `/$: 86.96 ▲ 0.39 `/€: 101.56 ▲ 0.46 BRENT: $65.89 ▼ $0.71 GOLD: `98,702 ▼ `500 IN THE NEWS Capex loans to states cross `40,000 crore THE CENTRE’S 50-YEAR interestfree loans for capital expenditure by the states crossed `40,000 crore so far in the current financial year, a senior government official said, reports Prasanta Sahu. ■ PAGE 2 Bond yield closes above 6.50% for first time in FY26 THE BOND PRICES continued their slide for a second session on Tuesday as the 10-year yield closed above 6.50% for the first time in this financial year, reports Reuters. ■ PAGE 6 TARIFF TREMORS GROUND IMPACT-III High seas & higher tariffs SEAFOOD UNITS, AQUA farms struggle to stay afloat as current orders have been put on hold by US buyers, reports Narayanan V. ■ PAGE 20 Online money games face ban EVAND SEMICONDUCTOR FIRMSTO GAIN China to ease rare earth restrictions ● Wang-Jaishankar ● Stringentpenal provisionsincluded inthedraftBill PTI meetalsotookup fertilisers&boring machinesimports FE BUREAU New Delhi, August 19 IN A POSITIVE turn of events, China has promised to lift the curbs on exports of rare earths, fertilisers and tunnel boring machines to India even as both countriesdeepentheirengagement at the diplomatic level. The assurance to look at India’s needs for these key inputs favourably came at the meeting between external affairs minister S Jaishankar and Chinese foreign minister Wang Yi on Monday evening. The recent imposition of export restrictions on key rare earth magnets by China has resulted in a supply chain bottleneck, impacting Indian industries including EVmanufacturers, minister of state for commerce and industry Jitin Prasada said in the Lok Sabha on Tuesday. The US-India tariff standoffhasledtoasudden“upward trend”intherelationsbetween New Delhi and Beijing. The neighbours are seeking to rebuild the ties which were damagedafterthe2020border clashes in the GalwanValley. OJASVI GUPTA New Delhi, August 19 THE GOVERNMENT IS likely to impose a blanket ban on all online money-based games. A draft Bill titled ‘The Promotion and Regulation of Online Gaming Bill, 2025’ seeks to prohibit any person from offering online games involving money in India, failing which they could be imprisoned for up to three years, and penalised `1 crore. Those promoting such GAME OVER? ■ Online gaming companies in India collectively ■ Anyone `24,000 crore in 2024 offering online money games may be imprisoned for up to three years and penalised `1 crore earned a revenue of close to over ■ Those promoting such platforms may also face jail time of two years and a penalty of `50 lakh ■ Companies such as Dream11, MY11Circle, Khelo Fantasy are likely to be impacted by the Bill platforms,such as social media influencers, may also face jail time of two years and a penalty of `50 lakh. The Bill also seeks to prohibit banks and financial institutions from facilitating financial transactions on such platforms. If approved in its current form, it would be curtains for many in India’s online gaming industry, which has seen an exponential growth. Sources in online gaming companies say it would be a huge blow as the industry ChatGPTjoinslow-costAI rushwithits`399offer PM Narendra Modi met Chinese foreign ministerWangYi in New Delhi onTuesday.Wang invited Modi to the SCO Summit on behalf of President Xi Jinping, which the latter accepted ■ PAGE 11 »INSIDE« CHINA’S RARE EARTH EASING FURTHER AIDS AUTO RALLY PAGE 6 EDIT: GETTING BACK ON TRACK PAGE 8 The development could come in handy for India's sunrise sectors, including electric vehicles and semiconductors. On an immediate basis, it will help address a shortage of key I will get a fancy car but... soil nutrients urea and Diammonium Phosphate (DAP) in some parts of the country.China had been intermittently imposing restrictions on exports of these and water- soluble specialty fertilisers to India over the last couple of years. India remains over 90% dependent on imports for its semiconductor and rare-earth requirements. Continued on Page 5 BISWAJIBAN SHARMA New Delhi, August 19 GENERATIVE AI SERVICES companies are reworking their pricing playbooks to win over India’s vast and cost-conscious digital population. Open AI, the creator of ChatGPT, is the latest to dive into the bottom of the AI market pyramid by launching a more affordable subscription tier in India called ChatGPT Go, priced at `399 per month. Nick Turley, head of ChatGPT at OpenAI, said, ChatGPT Go gives users 10x higher message limits, 10x more image generations, 10x PRICE PLAY OpenAI Google AI ChatGPT Go Pro Bundle ChatGPT Plus (per month) in India `399 `1,999 ChatGPT Pro `19,900 Microsoft Copilot Pro »INSIDE« Pro (std.) 1,950 `2,000 DEEPSEEK RELEASES V3 AI MODEL UPDATE PAGE 7 more file uploads & 2x longer memory compared with its free tier. “Making ChatGPT more affordable has been a key ask from users,” he said, I will go on a world tour post retirement but… Free noting that India’s feedback will shape how the company expands the model globally. Continued on Page 7 employs more than 200,000 highly skilled people. Proliferation of illegal platforms/offshore betting would create huge user safety issues, they said. Continued on Page 7 GovtseesGST hitof`60Kcr THE CENTRE’S PROPOSAL to have a principally twotier GST structure along with other reforms of the tax may cost `60,000 crore on an annualised basis, sources told FE, reports Prasanta Sahu. ■ PAGE 3 Logisticsfirms infestivemode LOGISTICS AND SUPPLY chain companies expect a 2040% increase in festive sales this year, fuelled by pent-up demand, reports S Shanthi. To make the most of it, many players such as Shiprocket, Porter have enhanced tech capabilities, and hired gig workers. ■ PAGE 4 I will get a new house but… Protect all your dreams with a comprehensive range of Life Insurance Plans. Term Plan Plans Child Plans Savings Plans Retirement Plans A Life Insurance Awareness Initiative Scan to know more sabsepehlelifeinsurance.com BENGALURU
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