Beyond Financial News

BSE Sensex rising above 69,653 on Wednesday—is valid. Foreign institutional investors are back in action as buyers; their dithering in 2022 after yield gaps with safe US debt got squeezed now seems like old hat. An enlarged base of retail investors has held indices up, even as India’s economy has recovered from its covid contraction robustly enough to keep up a relatively pacy trajectory.

Also Read: Putin to visit Saudi, UAE on December 6 after OPEC+ cuts, host Iran President: What's on agenda? Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a December 18 expiry, was last trading lower by 4.75 per cent at ₹5,791 per bbl, having swung between ₹5,784 and ₹6,068 per bbl during the session so far, against a previous close of ₹6,080 per barrel. -Crude inventories fell by 4.6 million barrels, far exceeding the 1.4 million-barrel drop analysts had expected. There is demand destruction coming in from the fuel side.

general elections. Ola declined to offer a comment on Mint’s queries. The Bengaluru-based electric vehicle maker was last valued at $5.4-5.5 billion in October when it raised $384.43 million, including about $240 million in debt, from Temasek and the State Bank of India.

LONDON (Reuters) — Slowing trend growth in China means there are better investment opportunities in emerging markets outside the world's number two economy, senior executives at BlackRock (NYSE:BLK) Investment Institute (BII) said on Wednesday.

Two recent back-to-back events have helped showcase India’s rise in the polity of nations: the country’s successful hosting of the G20 summit, which managed some path-breaking geopolitical agreements, and the Chandrayaan-3 mission that was executed flawlessly and cost effectively, validating India’s space industry. India is being seen as a country with a deep history and culture that is moving forward firmly.

Private sector lender ICICI Bank has revised the Fixed Deposit (FD) rates for single deposit of ₹2 crore and above but less than ₹5 crore for general public and senior citizens. The ICICI Bank FD Rates are effective from 6 December 2023, the bank website said.

Spikes in a key short-term interest rate are raising eyebrows in the arcane but vital overnight funding market, drawing unsettling comparisons with turmoil that rocked the space more than four years ago.

Belt and Road Initiative (BRI) of China, four years after signing the project, news agency AFP reported Wednesday citing a government source. Italy in 2019 became the first and so far only G7 nation to join the programme. Rome communicated the long-anticipated decision to Beijing three days ago, Italian newspaper Corriere della Sera, which first reported the news, said.

Armed Forces Flag Day, a time when we unite to honor their sacrifices and contribute to the welfare of those who protect us. The Armed Forces Day is celebrated on December 7 every year. Armed Forces Flag Day holds historical significance dating back to August 28, 1949, when the Ministry of Defence proclaimed it as a day of remembrance and fundraising.

How to Implement and Profit from Unexpected Solutions. Large corporations and their investors care about ESG metrics also because of material risks. For instance, when a soda company uses large volumes of water, it can lead to a water shortage and affect future business operations, besides opening the door for litigation and penalties.

Vishal Thakkar, Deputy CFO, Anupam Rasayan, says “there has been a bit of a blip for a few quarters. We might see it for a quarter or two more and then we should be back on the growth path, that is what I think we are seeing as an industry. For Anupam also, we have been fairly flattish to little on the upside as far as growth is concerned. Probably, this quarter also will be kind of similar and in Q4 of this financial year, we should start seeing the growth back in our journey as well.” What is your overall outlook on the chemical sector as a whole because I understand there are some concerns right now with respect to destocking that could end soon. There has been high competition due to the recovery in China and the China oversupply impacting a lot of branded and generic sales. Can you give us a round up? The industry has been seeing a bit of headwinds, especially regarding the destocking issue. Yes, the channels had a little bit more inventory than what the market was comfortable with and the industry is unwinding it and that is pushing the demand for the backstream guys a little further for a few quarters. China is coming in and that also is increasing the market supply and reducing the demand for the industry.

(Reuters) — The global wind power sector will add less capacity in the next decade than previously expected due to financial trouble in the U.S. offshore wind industry and sluggish approval and project execution in China, consultancy Wood Mackenzie said on Tuesday.

non-Basmati rice to 16 countries and 50,000 tonnes of sugar to two countries, Cooperation Minister Amit Shah said on Wednesday in the Rajya Sabha. The National Cooperative Exports Ltd (NCEL) was registered in January this year under the Multi-State Co-operative Societies Act, 2002.

Reliance Industries as its largest exposure in Indian stocks with a 4.5 percent weightage, followed by ICICI Bank (3.5 percent), Godrej (2.5 percent), Axis Bank (2.5 percent), Mahindra & Mahindra (2.5 percent), Larsen & Toubro (1.5 percent), UNO Minda (1.5 percent), and Fortis (0.5 percent). Nomura also outlined the potential risks for the Indian stock market in 2024 from the China rotation and stretched government finances leading to populism, higher taxes, and lower government capex.

(Reuters) — European Union scientists said on Wednesday that 2023 would be the warmest year on record, as global mean temperature for the first 11 months of the year hit the highest level on record, 1.46°C (34.63°F) above the 1850-1900 average.

Sense AI has launched a $25 million (about Rs 200 crore) fund which will primarily invest in Indian artificial intelligence start-ups over the next three-and-a-half years, the company said on Tuesday. SenseAI Fund I plans to invest in 18-20 AI-first startups, focusing on early-stage companies and may further make follow-on investments in its most promising portfolio companies, the company said. «We (will) fully invest the fund over the first 3.5 years and exit by the end of 8 years,» SenseAI Ventures cofounder Rahul Agarwalla said.

Sudhanshu Trivedi on Tuesday said the country's robust GDP numbers reflect the «growth rate of Hindutva». In a veiled dig at the previous Congress-led United Progressive Alliance (UPA) government at the Centre, Trivedi said the Indian economy was striving to go beyond 2 per cent, which was jokingly labelled as the «Hindu rate of growth». Addressing the Upper House during the discussion on the economy, the BJP MP said, «With respect to the Indian economy, I am being reminded of the days when the country was under Congress rule. Our country was made fun of back in those days and it was said, in a jocular vein, that our economy couldn't grow beyond 2 per cent.

Churmur is not a snack. It is an emotion — a joyous one at that.

global capability centers or captives in India has been insourced from an IT firm, as per data sourced by ET. This is driven by multinationals which are making a beeline for India's abundant technology talent for functions and are going beyond back-office support through their GCCs. ANSR, which helps set up GCCs and handles over 110 centres and 120,000 GCC talent resources, says that over 30,000 critical jobs over the past decade have been insourced from system integrators to their own payrolls by GCCs.

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By Doyinsola Oladipo