Business
Federal Reserve cuts rates by 25 basis points | The Express Tribune
WASHINGTON:
The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs for the rest of this year, as policymakers responded to concerns about weakness in the job market in a move that won support from most of President Donald Trump’s central bank appointees.
Only new Governor Stephen Miran, who joined the Fed on Tuesday and is on leave as the head of the White House’s Council of Economic Advisers, dissented in favour of a half-percentage-point cut.
The rate cut, along with projections showing two more quarter-percentage-point reductions are anticipated at the remaining two policy meetings this year, indicate Fed officials have begun to downplay the risk that the administration’s voluble trade policies will stoke persistent inflation, and are now more concerned about weakening growth and the likelihood of rising unemployment. The cut, the first move by the policy-setting Federal Open Market Committee since December, lowered the policy rate to the 4.00%-4.25% range.
New economic projections showed policymakers at the median still see inflation ending this year at 3%, well above the central bank’s 2% target, a projection unchanged from the last set of forecasts in June. The projection for unemployment was also unchanged at 4.5% and the one for economic growth slightly higher at 1.6% versus 1.4%.
World stocks edged lower in choppy trading while the US Treasury yields fell across the board. Benchmark S&P 500 and the Nasdaq were trading slightly lower while the Dow rose after the Fed’s announcement. The Dow Jones Industrial Average rose 0.56% to 46,014.88, the S&P 500 fell 0.31% to 6,585.98 and the Nasdaq Composite dropped 0.75% to 22,162.03.
MSCI’s gauge of stocks across the globe slid 0.14% to 975.41, retreating from its record highs.
The benchmark US 10-year note yield fell 1.5 basis points to 4.009%. The 2-year note yield, which typically moves in step with interest rate expectations for the Fed, fell 1.5 basis points to 3.495%.
The US dollar fell against against a basket of major trading partners’ currencies while gold prices soared to a record high.
Compared to the stagflationary risks contained in the last set of projections, with the Fed slowing its rate cuts to head off inflation, the new projections show an emerging sense among officials that they can head off any rise in unemployment with a faster pace of rate reductions, while inflation eases slowly next year.
Fed officials have gradually warmed to the idea that Trump’s tariffs would have only a temporary impact on inflation, and the latest forecasts are consistent with that view.
Business
E to E Transportation Infra IPO Day 2: GMP At 83%; Issue Receives 123.77x Subscription So Far
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Unlisted shares of E to E Transportation Infra are trading at Rs 319 apiece in the grey market, which is 83% premium over the issue price of Rs 174, indicating a strong listing.
E to E Transportation Infrastructure IPO.
E to E Transportation Infrastructure IPO GMP: The initial public offering (IPO) of E to E Transportation Infrastructure Ltd witnessed its second day of bidding today, Monday, December 29. The price band of the Rs 84.22-crore IPO has been fixed in the range of Rs 164 and Rs 174. Till 5:40 pm on the second day of bidding on Monday, the IPO received a total of 123.77 times subscription, garnering bids for 39,83,49,600 shares as against 32,18,400 shares on offer.
Its retail category got a 166.21x subscription, while its non-institutional investor (NII) quota got a 181.29x subscription. Its qualified institutional buyer (QIB) category has received a 6.32x subscription.
E to E Transportation Infrastructure IPO GMP Today
According to market observers, unlisted shares of E to E Transportation Infrastructure Ltd are currently trading at Rs 319 apiece in the grey market, which is a 83.33 per cent premium over the issue price of Rs 174, indicating a strong listing. Its listing will take place on January 2, Friday, on the NSE’s SME platform.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
E to E Transportation Infrastructure IPO: More Details
E to E Transportation Infrastructure’s Rs 84.22-crore initial public offering is a book-built issue consisting entirely of a fresh issuance of 0.48 crore equity shares. The IPO opened for subscription on December 26, 2025, and will close on December 30, 2025, with allotment expected to be finalised on December 31. The company is slated to make its debut on the NSE SME platform on January 2, 2026.
The price band for the issue has been fixed at Rs 164-Rs 174 per share. Investors can apply in lots of 800 shares. At the upper end of the band, retail investors are required to invest a minimum of Rs 2.78 lakh for two lots (1,600 shares), while high-net-worth individuals must bid for at least three lots (2,400 shares), translating to an investment of Rs 4.18 lakh.
Hem Securities Ltd is acting as the book-running lead manager to the issue, while MUFG Intime India Pvt Ltd has been appointed as the registrar. Hem Finlease Pvt Ltd will serve as the market maker.
Incorporated in 2010, E to E Transportation Infrastructure is an ISO 9001:2015-certified company that provides system integration and engineering solutions for the railway sector.
The company reported a 47% jump in revenue and a 36% rise in profit after tax in FY25 compared with the previous financial year.
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December 29, 2025, 10:23 IST
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Business
Industrial production at two-year high! IIP records 6.7% growth in November; fueled by mining, manufacturing sectors – The Times of India
The country’s industrial output reached a two-year highk, growing by 6.7 per cent in November, according to the official Index of Industrial Production (IIP) data released Monday.This marks an improvement from the 5 per cent growth recorded in November last year, according to data released by the National Statistics Office (NSO). The surge was largely because of strong performances in mining and manufacturing sectors. “The growth is led by Manufacture of basic metals and fabricated metal products, pharmaceuticals and motor vehicles,” stated the ogvernment press release.The manufacturing sector led the growth surge, expanding by 8 per cent, up from 5.5 per cent in the same month last year. Mining also recorded huge gains, rising by 5.4 per cent compared to 1.9 per cent a year ago.However, not all sectors showed growth. The electricity sector faced challenges, with production dropping by 1.5 per cent, as compared to the 4.4 per cent growth seen in the same period last year.Looking at the broader picture, the NSO also revised October industrial production growth slightly upward to 0.5 per cent from the earlier estimate of 0.4 per cent. The current growth rate is still below the 11.9 per cent peak of November 2023.The overall industrial growth for April-November has slowed down. The growth rate stands at 3.3 per cent, slightly lower than the 4.1 per cent recorded in the same period last year.
Business
Post-GST Relief, Indians Opt For Bigger Health Covers And Longer Policies In 2025: Policybazaar Data
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Policybazaar reports GST removal boosted average sum insured in India to Rs 19 lakh, with rising demand for higher health, term, motor, and travel insurance.
Health, Term, Motor Insurance See Strong Uptick in 2025 After GST Relief
The average sum insured in India increased from Rs 14.5 lakh to Rs 19 lakh after GST removal on the insurance premium, according to Policybazaar report ‘Decoding India’s Financial Behavior in 2025’.
Buyers are now opting for higher sum insured health policies post GST removal, with the demand rising 47 per cent for Rs 10-25 lakh covers and 85 per cent for Rs 25 lakh and above covers, the report added.
Buyers increasingly opted for longer protection periods, reflected in the higher selection of 4-year and 5-year health insurance policies. 4-year and 5-year tenures increased by 56 per cent and 62 per cent, respectively.
Similarly, policies with sum insured below Rs 10 lakh declined by 29 per cent year-on-year.
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising ministers from all states, on Wednesday had decided to exempt health and life insurance premiums from the levy of goods and services tax (GST), from September 22, 2025.
Term Insurance Demand Grows 37%
In term insurance, demand grew 37% in 2025, led by buyers aged 25–40 years. Rs 1 crore emerged as the most popular cover, while higher sums are gradually gaining ground. Salaried individuals dominated purchases, and while men accounted for 80% of buyers, women showed a stronger preference for critical illness riders—pointing to more need-based choices.
Premium On Motor Insurance Jumps 200%
Motor insurance reflected changing mobility trends. Electric vehicle insurance purchases grew nearly 2.5 times year-on-year, with premiums surging about 200%. Add-ons such as roadside assistance and zero depreciation are becoming standard, especially for new vehicles. Pay-as-you-drive policies also saw meaningful adoption among urban users, offering savings for low-mileage drivers.
Travel Insurance Becomes Must-Have
Travel insurance shifted from optional to essential. Policy issuance rose 15%, with travellers opting for higher covers, especially for the US and Canada. Senior citizens emerged as an important growth segment, accounting for 15% of insured travellers.
Millennials Are On Fore Front
On the investment front, millennials led participation, with under-35 investors now forming 25% of retirement product buyers. Longer tenures of 20 years or more are increasingly preferred, reflecting patience and long-term thinking.
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December 29, 2025, 14:35 IST
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