Business
LVMH shares soar 14% on strong China demand: European luxury stocks adds $80 bn, investors cheer sector revival – The Times of India
Shares of luxury giant LVMH had their best day in over two decades on Wednesday, soaring as much as 14% after reporting stronger-than-expected quarterly sales that signalled a possible revival in Chinese demand. The rally added nearly $80 billion to the combined market value of European luxury stocks, according to Reuters report.The world’s largest luxury group, which owns Louis Vuitton, Dior, Moët, and Hennessy, posted its first quarterly sales rise this year, beating forecasts and sparking a sector-wide surge. Rivals including Hermès, Kering, Richemont, Burberry, and Moncler gained between 5% and 9% as investors cheered signs that the industry may be pulling out of its two-year slump.“The sales figures indeed surprised investors positively and are likely to keep the sector’s share price momentum alive,” said Stefan Bauknecht, equity portfolio manager at DWS. Analysts at Bernstein noted that sales exceeded expectations across all divisions — from fashion and jewellery to spirits and hospitality.While optimism is returning, several analysts cautioned against reading too much into the rebound. Jefferies noted that it was “too early to talk about a general recovery” and questioned whether early signs from LVMH were being mistaken for an industry-wide turnaround.According to Reuters calculations, the LVMH-led rally added roughly $80 billion in market capitalisation to companies in the STOXX Europe Luxury 10 index — the biggest such jump since early 2024. The gains come amid hopes that sweeping creative and management changes at top brands will begin to pay off.Sales in mainland China — a key growth engine for global luxury — turned positive, with consumers responding well to immersive retail concepts such as Louis Vuitton’s ship-shaped boutique in Shanghai. Sales from travelling Chinese shoppers also improved, though they remained lower than last year.Chinese demand, which accounts for nearly one-third of global luxury sales, had been hit hard by the property downturn, US trade tensions, and economic uncertainty.Ariane Hayate, European equity fund manager at Edmond de Rothschild, said the third-quarter performance was “reassuring”, citing “idiosyncratic” growth factors such as Louis Vuitton’s initiatives in China. LVMH’s fashion and leather goods division — its core profit driver — improved sequentially but still recorded a 2% year-on-year decline.LVMH Chief Financial Officer Cecile Cabanis said on Tuesday that “economic uncertainty and unfavourable exchange rates” would continue to affect the group’s performance in the fourth quarter. UBS forecasts a 4% organic sales growth for the sector next year, expecting momentum to pick up only in the second half of 2026 as new designer collections reach stores.
The Oil and Gas Regulatory Authority (OGRA) has approved a fresh increase in the price of liquefied petroleum gas (LPG), raising the cost for both domestic consumers and commercial users.
According to the notification issued, the LPG price has been increased by Rs7.39 per kilogram, setting the new rate at Rs209 per kg for December. As a result, the price of a domestic LPG cylinder has risen by Rs87.21, bringing the new price to Rs2,466.10.
In November, the price of LPG stood at Rs201 per kg, while the domestic cylinder was priced at Rs2,378.89.
The latest price hike is expected to put additional pressure on households already grappling with rising living costs nationwide.
Business
Private sector data: Over 2 lakh private companies closed in 5 years; govt flags monitoring for suspicious cases – The Times of India
NEW DELHI: The government on Monday said that over the past five years, more than two lakh private companies have been closed in India.According to data provided by Minister of State for Corporate Affairs Harsh Malhotra in a written reply to the Lok Sabha, a total of 2,04,268 private companies were shut down between 2020-21 and 2024-25 due to amalgamation, conversion, dissolution or being struck off from official records under the Companies Act, 2013.Regarding the rehabilitation of employees from these closed companies, the minister said there is currently no proposal before the government, as reported by PTI. In the same period, 1,85,350 companies were officially removed from government records, including 8,648 entities struck off till July 16 this fiscal year. Companies can be removed from records if they are inactive for long periods or voluntarily after fulfilling regulatory requirements.On queries about shell companies and their potential use in money laundering, Malhotra highlighted that the term “shell company” is not defined under the Companies Act, 2013. However, he added that whenever suspicious instances are reported, they are shared with other government agencies such as the Enforcement Directorate and the Income Tax Department for monitoring.A major push to remove inactive companies took place in 2022-23, when 82,125 companies were struck off during a strike-off drive by the corporate affairs ministry.The minister also highlighted the government’s broader policy to simplify and rationalize the tax system. “It is the stated policy of the government to gradually phase out exemptions and deductions while rationalising tax rates to create a simple, transparent, and equitable tax regime,” he said. He added that several reforms have been undertaken to promote investment and ease of doing business, including substantial reductions in corporate tax rates for existing and new domestic companies.
Pakistan’s textile exports surged to $6.4 billion during the first four months of the 2025-26 fiscal year, marking the highest trade volume for the sector in this period.
According to the Pakistan Bureau of Statistics (PBS), value-added textile sectors were key contributors to the growth.
Knitwear exports reached $1.9 billion, while ready-made garments contributed $1.4 billion.
Significant increases were observed across several commodities: cotton yarn exports rose 7.74% to $238.9 million, and raw cotton exports jumped 100%, reaching $2.6 million from zero exports the previous year.
Other notable gains included tents, canvas, and tarpaulins, up 32.34% to $53.48 million, while ready-made garments increased 5.11% to $1.43 billion.
Exports of made-up textile articles, excluding towels and bedwear, rose 4.17%, totaling $274.75 million.
The report also mentioned that the growth in textile exports is a result of improved global demand and stability in the value of the Pakistani rupee.
UK budget mildly deflationary; debt to climb past 106%: Fitch
OGRA Announces LPG Price Increase for December – SUCH TV
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