Covestro adjusts its forecast for fiscal year 2025 as follows:

• EBITDA is expected to be between EUR 700 million and EUR 1,100 million. The previous forecast projected EBITDA between EUR 1,000 million and EUR 1,400 million. The consensus expected this figure to be EUR 931 million.

• Free operating cash flow (FOCF) is expected to be between EUR -400 million and EUR +100 million. The previous forecast projected FOCF between EUR 0 million and EUR 300 million. The consensus expected this figure to be EUR 106 million.

• Return on capital employed over weighted average cost of capital (ROCE over WACC) is expected to be between -9 and -5 percentage points. The previous forecast projected ROCE over WACC between -6 and -3 percentage points.

Unchanged, greenhouse gas emissions, measured via CO₂ equivalents, are expected to be between 4.2 million tons and 4.8 million tons.

In the second quarter of 2025, Covestro’s preliminary EBITDA amounted to EUR 270 million, which is within the previous forecast range between EUR 200 million and EUR 300 million. This was supported by the release of bonus provisions of EUR 43 million in line with the reduction of the full year forecast. The consensus expected this figure to be EUR 220 million.

The financial report for the second quarter of 2025 will be published on July 31, 2025.

Capital market expectations are based on the average values of the latest consensus estimates of financial analysts, recently published by Vara Research on July 7, 2025.

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INDIA: The National Urban Cooperative Finance and Development Corporation (NUCFDC) and TransUnion CIBIL jointly unveiled the first edition of the Sahakaar Trends report at the 2025 Credit Conference. According to the report, as of March 2025, portfolio balances for Urban Cooperative Banks (UCBs) stood at INR 2.9 lakh crore, recording a 6% YoY growth and 1.8x growth over the last 5 years (since March 2020). Key product segments saw double-digit growth in portfolio balances, driven by increased demand and wider market reach.

The report notes that the sector is poised for its next phase of growth through a tech-led resurgence, with headroom to advance digital transformation and modernize operations. A strategic focus on technology will unlock stronger growth and enhance competitiveness in a fast-changing financial landscape for UCBs.

The first edition of the Sahakaar Trends report offers a comprehensive view of UCB performance, benchmarking them against peer institutions and laying out data-driven recommendations to help them compete smarter, grow sustainably, and serve more effectively. The report underscores the growing relevance of India’s 1,472 UCBs as critical enablers of the country’s next phase of financial growth, particularly in expanding credit access across small towns and semi-urban India.

With the banking sector projected to grow at 11.5% annually through 2030, UCBs are seen as well-aligned with India’s inclusive development goals. Their deep roots in local economies, community connections, and grassroots presence make them uniquely placed to extend formal credit to India’s next billion borrowers. Serving close to 9 crore Indians, UCBs are not just financial institutions; they are local anchors of trust. As India eyes a $5 trillion economy, UCBs are positioned to rise responsibly and digitally, powering micro-entrepreneurs, self-employed youth, women-led SHGs, informal workers, and first-time homebuyers along the way.

Speaking about the report launch, Prabhat Chaturvedi, CEO, NUCFDC, said, “UCBs have long been pillars of trust and grassroots accessibility. Today, backed by data-driven insights, digital tools, and institutional support, they are poised to lead a new era of inclusive financial growth. Sahakaar Trends is not a report but a roadmap for how UCBs can evolve into agile, future-ready institutions that blend legacy strength with the promise of speed, scale, and digital sophistication.”

“The timing couldn’t be more fitting. The latest Financial Stability Report by the RBI highlights how UCBs are emerging stronger, with credit growth in primary UCBs accelerating to 7.4% year-on-year as of March 2025, with both Scheduled (SUCBs) and Non-Scheduled UCBs (NSUCBs) contributing to this momentum in lending activity. The sector’s capital position has also improved significantly, with the overall Capital to Risk-Weighted Assets Ratio (CRAR) rising to 18.0%. Asset quality has shown a positive shift, with gross NPAs declining to 6.1% and the net NPA ratio falling to 0.6%. This data reaffirms our belief that the cooperative banking sector is entering a new chapter marked by resilience, reform, and renewed confidence”.

The report calls for regulatory focus and faster digital adoption to help modernize these community-rooted institutions for a future-ready credit ecosystem. By leveraging digital tools, strengthening underwriting frameworks, and improving risk management, UCBs have the opportunity to expand market share while significantly enhancing operational efficiency and customer experience.

While acknowledging the legacy burden of outdated systems, Sahakaar Trends outlines a clear path forward. Initiatives like the Sahakar Credit Engine, Sahakar Paathshaala, and portfolio risk dashboards shall equip UCBs to automate loan processing, monitor credit in real-time, and offer Aadhaar-enabled, app-based lending solutions. Coupled with targeted staff training, these interventions are designed to help UCBs deliver faster, smarter, and more inclusive banking.

The report highlights a sharp evolution in UCBs’ credit portfolio over the last five years. Commercial loans continue to dominate, accounting for 28% of total balances. Housing loans have maintained strong momentum with a 19% CAGR and now contribute 14% to the overall portfolio. Personal loans have grown at an 18% CAGR, making up 6% of balances in the same period. Gold loans posted a standout 52% CAGR, despite comprising just 4% of the portfolio. Auto loans and loans against bank deposits also showed rapid growth, clocking 33% and 23% CAGR, respectively, each accounting for 2% of the portfolio, signalling rising demand for collateral-backed credit in urban markets. Retail business loans have emerged as a key MSME growth driver for UCBs, growing at a robust 24% CAGR and accounting for 12% of their overall portfolio. This surge is driven by rising credit demand from micro-entrepreneurs and informal enterprises across urban and semi-urban markets.

Commercial loans have grown modestly at a 3% CAGR over the past five years. Notably, 37% of commercial loan seekers at UCBs are new-to-credit (NTC) borrowers. Thus, it signals UCBs’ role in expanding credit access to first-time entrepreneurs and small businesses. The report highlights that UCBs are showing stronger credit discipline in this commercial loan segment.

Among borrowers with exposure below INR 1 crore, delinquency rates have dropped from 3.5% in March 2020 to 1.4% by March 2025, outperforming PSU banks, which stood at 3.3% in the same period. A similar trend is visible in the INR 1–10 crore exposure bracket, where UCBs improved from 5% to 3.3%, nearly closing the gap with PSUs, which brought down delinquencies from 3.5% to 1.4%. On the demand side, the outlook remains strong. Over the past five years, credit demand for commercial loans through UCBs has grown faster than for PSUs, with a larger share of applicants falling in the low-risk category.

UCBs are witnessing a notable rise in housing loan demand that reflects growing trust among aspiring homeowners, especially in semi-urban and underserved regions. Between March 2020 and March 2025, housing loan enquiries at UCBs grew 2.8x, peaking at an indexed value of 299 in FY24 and stabilizing at 280, compared to just 1.6x growth for HFCs (indexed at 163). Additionally, UCBs have demonstrated strength in catering to above-prime borrowers, with an average home loan ticket size of INR 25.2 lakh. The share of subprime enquiries dropped from 12% in 2020 to just 9% in 2025.

UCBs are also attracting a more diverse borrower mix, with 20% of housing loan enquiries now coming from new-to-credit customers. Younger borrowers (aged 35 and below) account for 28% of home loan originations, which offers an opportunity to tap the segment with tailored digital offerings and first-time homebuyer solutions. Gender inclusion stands out as a key differentiator, with 71% of UCBs’ housing loan customers being women, compared to 57% for HFCs. Geographically, UCBs hold a slightly higher presence in both metro markets (42%) and rural areas (22%), outperforming HFCs across both segments.

Despite global macro headwinds and rising competition, UCBs have delivered consistent credit growth across business lines. Their deep local presence, trust-based engagement, and high conversion rates, especially in personal loans, where they achieve a 48% conversion, provide a strong foundation for sustained and inclusive expansion.

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Diwekar was speaking at an event organized by P M Shah Foundation in Pune at the National Film Archive of India on Law College Road. Diwekar also expressed a clear opinion that this food-related conflict, filled with doubts and misconceptions, should come to an end.

P M Shah Foundation’s Director, Adv. Chetan Gandhi, Mukulika Shah of Jyotichand Bhaichand Jewellers, and Saraswati Mehta of P M Shah Foundation were present on the occasion. Mukulika Shah felicitated Rujuta Diwekar during the event. The launch of Diwekar’s latest book, “The Commonsense Diet,” also took place during the program. The program was conducted in an interactive Q&A format by anchor Vasundhara Kashikar and organizer Adv. Chetan Gandhi.

During the program, Rujuta Diwekar said, “The notion that women should only start taking care of themselves after the age of 40 needs to change. Women in every household should prioritize their health from birth. Women should focus on themselves rather than getting caught up in cooperation, collaboration, and compromise throughout their lives. It’s not just about looking slim in selfies after 40, but about being healthy, which is what’s truly important.”

Diwekar clearly stated that the idea that being slim equates to being healthy is a misconception. She further added, “Over the past few years, men’s involvement in the kitchen has decreased, and it needs to increase. Along with this, we should bring back the traditional practice of serving full meals with rice, which was once a staple in our diet. I believe we should also revive the tradition of treating guests with love and care, serving them with satisfaction, and making them feel welcome.”

Diwekar emphasized that one should never eat with doubts or negativity and should not reject food, as rejecting food is akin to rejecting love. She advised people to prioritize local, seasonal, and traditional foods.

Diwekar also mentioned that “fusion food” is confusing. Instead of creating something entirely new by giving a twist to traditional dishes, she suggested preparing food in traditional ways. “Keep TV and mobile phones away while eating, and be grateful for the food you have. Use common sense when it comes to your diet,” she advised.

Diwekar pointed out that our traditional diet includes everything we need, but we often fail to give it the importance it deserves. She also enlightened the audience that social media ruins beauty standards, its algorithm has the power to monetize our fear hence one should avoid it.

“Women at home constantly advise others, yet they listen only to Rujuta Diwekar. We are proud of her as a long-standing name in this field from Maharashtra. Her extensive experience and in-depth research reflect clearly in her words,” said Adv. Chetan Gandhi during his introductory remarks.

Mukulika Shah added, “Just as roots nourish a tree, women nourish their families. Their health should not be neglected. It is equally important for women to take care of themselves.”

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INDIAN: ACCA’s (the Association of Chartered Certified Accountants) latest annual Global Talent Trends Survey 2025 alerts employers to changing perspectives among accountancy and finance professionals, providing a unique view of how people feel about their life at work and future career aspirations

Now in its third year, this is the largest annual talent survey of accountancy and finance professionals across the world. Over 10,000 individuals from 175 countries including India responded to our survey on issues ranging from career ambitions, hybrid working and inclusivity practices to upskilling, mental health and employability issues. The India Talent Trends 2025 report gives full details on findings from the country.

Many respondents see accountancy as a gateway for entrepreneurial ambitions and skills. With 63% saying   they have career ambitions to be entrepreneurs, it’s clear that many see accountancy as a natural springboard to eventually their own businesses in the future.  This could also be good news for employers – there’s a growing need for accountants to use their entrepreneurial mindsets in many finance and business job roles where skills such as commerciality and innovation are prized attributes.

Md. Sajid Khan, Director-India, ACCA, said, ‘This year’s Global Talent Trends Report reveals a pivotal moment for the Indian finance profession. With a remarkable 63% of professionals aspiring to become entrepreneurs and 75%  valuing hybrid work options, it’s clear that talent priorities are shifting rapidly.  At the same time, a growing number, especially from emerging markets like India, are looking beyond borders, with 85% of respondents intending to work in another country. These insights underline the urgent need for employers to reimagine workplace culture, one that encourages flexibility, nurtures ambition, and builds clear paths for internal growth. Those who listen, adapt, and invest in the evolving needs of their people will be best positioned to lead in a competitive and increasingly global talent landscape.’

This year’s emerging key themes from India are as follows:

1. 63% see accountancy as a springboard to running their businesses. This entrepreneurial mindset is highly valued by employers. 
2. Demand for sustainability-related careers is flying high, with 74% interested in pursuing accountancy careers focused on environmental issues. Globally, 48% of wider leadership roles below board level and 35% of middle management roles in finance currently include sustainability responsibilities.
3. Employability confidence is high,h with 80% expecting to move roles in the next two years and 67% expecting their next career role to be outside their current organisation – a retention challenge for employers.
4. Over 75% want hybrid working arrangements, yet 41% of respondents are still working in the office full time.
5. The recognition of older employees tops the list of diversity concerns, with 55% saying their organisation focuses more on certain aspects of diversity than others.
6. The cost-of-living crisis continues to top our ‘workplace fear’ index, with 67% of respondents expecting a pay rise in the next year.
7. 54% of respondents are concerned they’re not developing the skills required for the future workplace, and only 37% say their organisation is providing opportunities to learn AI-related skills.
8. Mental health indicators are improving slightly compared to previous years’ data, but remain challenging, with 51% of respondents agreeing their mental health suffers due to work pressures.
9. The ‘side hustle’ is on the rise. 32% across all generations suggest they’re now engaged in additional employment to their main jobs – another challenge for employers in terms of engagement and retention.
10. Accountancy remains a valued passport to global careers, with 85% of Indian respondents citing a desire to pursue career opportunities abroad at some point in their career.

Jamie Lyon FCCA, Global Head of Skills, Sectors, Technology at ACCA said: ‘Our 2025 data continues to show a workplace in transition, but one of the exciting themes emerging this year is how accountancy training can be a brilliant early career pathway for building entrepreneurial skills. There’s no doubt this in part reflects how career ambitions continue to transform at work.’

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MUMBAI: TeamLease Digital, a leading tech staffing and solutions provider, has revealed its latest insights on hiring trends and the tech landscape for the upcoming fiscal year 2025. The analysis highlights the surge in demand across various experience levels, influential market factors, and the significance of skill development in the ever-evolving tech industry. The following are some of the key details gauged by TeamLease Digital.

Concerning hiring in the tech sector, there have been distinct patterns for freshers, mid-level professionals, and senior management. Global Capability Centers (GCCs) have emerged as significant employers of fresh talent, offering entry-level candidates salaries that are upto 30% higher than the industry standard for in-demand skills. This surge is expected to continue, with GCCs projected to increase fresher hiring by 40% compared to the previous year. The IT services sector, while cautiously optimistic, is also anticipating a 20-25% growth in the recruitment of freshers, underscoring the demand for skills in software development, data engineering, and cloud technologies.

Meanwhile, mid-level roles demonstrate stability, with consistent demand for project managers, data scientists, and cybersecurity experts. Salaries in these roles have seen an increase of 7.89% to 10.2% as compared to FY 2024, reflecting the market’s need for professionals who can apply their hands-on experience to manage and optimize business operations effectively. Senior management roles are experiencing a remarkable 21% rise in demand since last year, attributed to the strategic importance of expertise in data engineering, product management, and DevOps, with salary increases ranging between 6.54% and 10.8%.

“Further, TeamLease Digital’s insights show that several key factors have driven the year-on-year growth in tech hiring. The rise in AI, machine learning (ML), and automation skills have significantly increased the demand for data-related roles. This trend is particularly evident in the surge of job postings for data scientists, where almost 69% mentioned ML skills in 2024. Skills in natural language processing (NLP) have also grown in prominence, with demand jumping from 5% in 2024 to 19% in 2025, indicating a broad industry shift toward AI-driven solutions. Moreover, there is a growing need for skills such as Python programming, ethical hacking and penetration testing, Agile Scrum Master, AWS security, and JavaScript, further reflecting the evolving landscape of tech hiring.”

The rapid migration to cloud infrastructures has further fueled hiring in roles related to cloud engineering, development, and architecture. Organizations continue to prioritize platform-specific certifications, particularly in AWS and Microsoft Azure, as these credentials are increasingly seen as critical for tech professionals. By FY 2025, India is expected to require over two million cloud professionals to support the accelerated adoption of cloud technologies across various sectors.

TeamLease Digital’s outlook also reveals how upskilling and professional development remain priorities as companies seek to bridge the talent gap. Alarmingly, 63% of tech employees did not upskill last year which highlights the urgent need to address this skills gap. Among those, 73% reported a lack of time, and 42% cited a lack of support from managers as barriers to their development. Employees aiming to transition from junior to senior roles are encouraged to pursue certifications in cloud computing, data analytics, and cybersecurity, as these skills are considered mandatory for progression. Upskilling is seen as a cost-effective strategy for employers, enabling them to meet talent demand while equipping professionals with the expertise required for higher-level responsibilities.

Additionally, the tech workforce solutions provider’s outlook shows that state-wise salary differences continue to shape the tech job market, driven by cost of living, concentration of tech companies, and local policies. Senior-level roles are experiencing a notable salary increase of 6.79% to 10.7% compared to FY 24 due to the diverse skill set required for these positions. This skill set encompasses advanced data manipulation, statistical analysis, machine learning, cloud computing, and expertise in big data tools such as Hadoop and Spark. The tech industry is currently facing a skills shortage in these areas, leading to a mismatch between demand and supply.

Major tech hubs such as Bangalore and Hyderabad offer competitive salaries due to their status as innovation centers, while smaller cities like Kochi and Coimbatore provide lower compensation because of reduced competition. However, companies are increasingly shifting their focus to Tier 2 towns, where the talent pool is gaining more importance. Cost of living is another major factor influencing salary disparities; for example, the high living expenses in Bangalore and Delhi necessitate higher salaries compared to cities like Ahmedabad. Additionally, government policies play a critical role, with Hyderabad’s favorable environment attracting tech companies, resulting in higher salaries compared to other regions.

Munira Loliwala, VP of strategy and Growth of TeamLease Digital, shared her thoughts “Mumbai has always been the financial nerve center of India, but today, it’s rapidly evolving into a strategic destination for Global Capability Centers and the non-tech sector. The city’s unparalleled access to top-tier talent, diverse industry presence, and robust infrastructure are driving innovation and growth in areas beyond finance, including analytics, risk management, and digital transformation. Mumbai’s unique blend of business acumen and technology expertise makes it an ideal location for companies looking to expand their global operations.”

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1. New Customers Calling for New Solutions

Over the years, the needs, knowledge, and expectation of customers have changed significantly. Hence customers are no more the people who accept everything that comes their way. Instead, they look deep into every matter and seek the best solutions. Similar to every other industry, customers are a disruptive force in the insurance sector as well. It is the time when we experience constant changes, immediate solutions, and extensive choices.

Therefore, insurance companies need to move ahead of their basic products and services in order to sustain them. Customers need insurance companies to be tech-savvy and be able to manage new demands in the new digital era so that they can get the most reliable deals without engaging themselves in many hassles.

2. A New Perspective on Growth

To achieve growth, insurance companies need to constantly evaluate their roadmap and align with the market needs and changes. The conventional approach of merely selling products and services is no longer sufficient, as customers know what is advantageous for them and what is not. So insurance companies will achieve growth by leveraging service-centric models, developing innovative products, and asserting more focus on preventive measures.

The rise in demanding customers means insurance companies have to continually innovate their products and services in order to stay relevant. Whether it is about a term insurance plan or any other life insurance coverage, customers are always looking for new ways to gain maximum financial security. And there is no way insurance companies can grow without moving along with these demands.

3. Collaboration and Expansion

In the current fiercely competitive scenarios, insurance companies have understood that merely organic growth and internal innovation are not sufficient. Along with offering the best insurance plan, these companies also need to focus on equity partnerships, M&A, and external alliances to facilitate their growth. Alliances with thriving tech start-ups can be highly advantageous for insurance companies. Presently, companies within this sector need exceptional deal-making skills to expand collaboration and remain relevant.

4. Embracing the Digital Disruption

No industry can overlook technological transformation, and the insurance sector is no different. However, being aware of this evolution and taking the necessary steps are two different notions. Insurance companies need to ameliorate the technological aspect and leverage cloud, blockchain, and analytics to their benefit. The emergence of new technologies is evidently going to create a certain degree of disruption.

In order to stay ahead of competitors, insurance companies need to understand and implement the technology to their benefit. Customers are inclined toward companies that are able to provide them with seamless products and services at a reasonable cost. Harnessing the potential of the right technology and methodology will enable the insurance company to provide products and services that cater to customers’ expectations. So beating the competition would not be tough for them.

A few Technologies that can be used by them are:

• Underwriting: Conventional underwriting resources are not enough to fulfill the modern-day requirements of the industry. With the help of AI and analytics, organizations can come up with more accurate underwriting by using a massive amount of customer data. Plus, blockchain technology will enable them to transfer information within the enterprise securely. So it can be used on multiple interfaces without any issues.
• Chatbots and Wearables: AI and IoT are two of the most innovative technologies in today’s market. When they are creating an impact everywhere, how can the insurance industry be left behind? These will bring a significant difference in the speed of quote-to-issue processing speed. Plus, it will offer an opportunity for insurers to motivate their customers for leading a healthy lifestyle.

5. Better Claim Settlement Process

When you look for the best insurance company in India, the claim settlement ratio plays a significant role. It helps you ensure that the insurer is good at settling the claims of its customers, which makes them more reliable for you. So with the increasing demands of customers and modern-day technologies, enhancing the claim settlement process is almost inevitable for organizations. It can be in the form of online claim portals or more efficient processing of claims, but the enhancement would be seen there.

6. Pandemic Coverage

How can we forget the major event of 2020, i.e., the coronavirus pandemic? As people are worried about such diseases that may turn into an epidemic in the future, insurers are looking forward to securing their customers for the same. On the other hand, insurance companies also need to ensure that they are not caught off-guard another time any such pandemic with high death rates hit the world.

Massive internet penetration, technological advancement, and rapidly changing demands of customers are bringing exponential transformations in insurance sectors. The companies in this industry need to stay updated with the existing trends and implement them in their operations to stay competitive and ensure growth.

Image by Freepik

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