Beyond Financial News

Indus Towers’ strong profits in the December quarter was boosted by an extra Rs 300 crore received from key customer, Vodafone Idea (Vi) as interest income on the latter’s old dues, said analysts. They added that this is reflected in a 94.5% sequential jump in Indus’ other income to nearly Rs 602 crore in the third quarter, FY24. The Rs 300 crore interest income is in addition to the Rs 300 crore directly collected from Vi by Indus towards part-clearance of past dues. “Indus’ higher net profit in Q3FY24, benefitted from higher other income, which had Rs 300 crore interest income from overdues,” ICICI Securities said in a note. Indus’s net profit grew 19% sequentially in the December quarter to Rs 1,541 crore. As per Citi Research, after the latest payments, Vi’s old dues to Indus is now at Rs 5,700 crore.

I suppose it is tempting, if the only tool you have is hammer, to treat everything as if it were a nail" – Abraham Maslow

Quiver Quantitative — In response to economic challenges and a significant stock market decline, China has announced a strategic reduction in its reserve requirement ratio (RRR) for banks. Set for implementation on February 5, this move aims to inject 1 trillion yuan ($139 billion) of long-term liquidity into the market. This proactive step, unusually announced in advance by the People's Bank of China (PBOC), is part of broader measures to stabilize the economy and financial markets. These efforts include enhanced support for the property sector and deepening financial collaboration with Hong Kong.

New Delhi: India has taken a strong stance on the issue of subsidies provided to poor and marginal fishermen. The country is planning to push its demand for the extension of subsidies to poor fishermen up to 200 nautical miles (nm) at the WTO Ministerial Conference (MC13), to be held from 26 February to 29 February in Abu Dhabi, a senior official said on Wednesday.

When UBStried, and failed, to sell Credit Suisse's $250m distressed debt business last year, it knew what to do. After dispensing with most of the traders in the unit, Bloomberg reports that UBS simply shunted the loans into the non-core unit charged with disposing of unwanted elements of the Credit Suisse carcass. There, the 30 or so positions will be unwound individually.

NEW DELHI : The finance ministry on Wednesday notified direct listing of Indian companies on GIFT City’s exchanges, a move expected to enable startups and unlisted companies access global capital. Indian companies can now list on the financial hub’s India International Exchange and NSE International Exchange at Gandhinagar, the ministry said.

As the crypto industry witnesses increasing competition among emerging and established players, all eyes turn towards a rising star that promises to redefine decentralized finance—Retik Finance. With innovative solutions, explosive token growth, and predictions of 5000% gains, Retik signals its potential to dethrone leading Ethereum scaling platform Polygon (MATIC) this cycle to emerge as the dominant DeFi protocol.This is Retik’s opportunity to cement itself as not just the Polygon killer, but as one of most important blockchain projects as the crypto industry matures into an integrated part of global finance. As adoption reaches unprecedented heights, we look closer at how Retik rapidly accelerated into pole position to dominate the new era of digital economics.

Nifty on Wednesday ended 215 points higher to form a bullish piercing line candle on the daily chart and was placed at the hurdle of mid part of Tuesday's long bear candle at 21,500 level.

Ashok Gehlot on Wednesday alleged that the consecration ceremony at the Ram temple in Ayodhya was given the form of a political event and claimed that the speeches delivered from the mandir's platform were «dangerous». He also questioned why senior BJP leaders such as JP Nadda, Amit Shah and Rajnath Singh did not attend the ceremony. «It is also a mystery that JP Nadda, Amit Shah and Rajnath Singh were not present at the consecration.

NEW DELHI : UN General Assembly president Dennis Francis warned that the ongoing conflict in the Red Sea posed an extremely disturbing situation that could trigger another mass war on a global level. Speaking at a press briefing in New Delhi on Wednesday, Francis said the possibility of escalation and regionalization of the conflict in the Red Sea had created a dangerous situation. “That is an extremely disturbing situation.

GIFT-IFSC, will reshape the Indian capital market landscape and offers Indian companies, especially start-ups and companies in the sunrise and technology sectors, an alternative avenue to access global capital beyond the domestic exchanges," according to a statement by Ministry of Finance. “This is expected to lead to better valuation of Indian companies in line with global standards of scale and performance, boost foreign investment flows, unlock growth opportunities and broaden the investor base.

By Jamie McGeever

Gujarat Police has arrested one more accused, who is the contractor of Kotia Projects, in connection with the boat capsize incident, which claimed 14 lives, including 12 children and injured several, police said. According to the police, the accused has been identified as Vineet Kotia, the contractor of Kotia Projects. With the arrest of the contractor of Kotia Projects, the total number of arrested accused reached seven. Deputy Commissioner of Police (DCP) Panna Momaya says, «The Kotia project is running under Vineet Kotia. He started the main project.

Frieren: Beyond Journey’s End Episode 17 has stirred excitement among fans. As viewers catch up on the series, let's recap the events of Episode 16 and explore how to watch the latest installment.

Netflix's beloved coming-of-age series, Never Have I Ever, fans find themselves caught in a web of uncertainty regarding the prospect of a fifth season. As the high school journey of Devi Vishwakumar concluded in Season 4, questions linger about the show's future. Delving into the details and statements from the creators, the likelihood of Never Have I Ever Season 5 becomes both a reflection on the past and a pondering of what could lie ahead.

The Federal Court has ruled the Trudeau government’s decision to invoke the Emergencies Act during the so-called “Freedom Convoy” that descended on Ottawa in 2022 violated the Charter of Rights and Freedoms.

the Kitchen. As viewers grapple with the shocking twists in the film's climax, a closer examination of 'The Kitchen' ending reveals layers of complexity and ambiguity.

OnePlus has launched its OnePlus 12R smartphone series in India, powered by the Snapdragon 8 Gen 2 chipset and will be available at a starting price of ₹39,999. The smartphone was launched at the Smooth Beyond Belief event along with the OnePlus 12 and OnePlus Buds 3. The OnePlus 12R features a 6.78-inch AMOLED ProXDR display with support for LTPO4.0, meaning the smartphone can run from 1-120Hz depending on the app running.

OnePlus 12 Series Launch Live Updates: Chinese smartphone maker OnePlus is all set to launch its OnePlus 12 series in India at the 'Smooth Beyond Belief' event starting from 7:30 pm onwards. The company has already confirmed that its flagship OnePlus 12, mid-range flagship OnePlus 12R and the OnePlus Buds 3 TWS will debut in India during the event.

Pran Pratistha of Ram Lalla, that saw the who's who of India in attendance. On Tuesday, devotees thronged in large numbers to Ayodhya. A large number of devotees, both locals and visitors from other states, gathered near the main gateway along the Ram Path leading to the temple complex late on Monday, seeking an entry to the premises.

In case you fancy free access to domestic and international airport lounges or steep discount at restaurants, you can – among other things – apply for a bank’s credit card. They will also offer a number of other benefits such as cash backs and discount on fuel.