Beyond Financial News

Dr. Peramsetty’s untimely death has sent shockwaves through the community, particularly among those who knew him as a dedicated healthcare provider and philanthropist. The Crimson Care Network expressed their grief in a heartfelt statement, requesting privacy for Dr. Peramsetty’s family during this difficult time. «We have been informed of Dr. Ramesh Peramsetty's passing. The Peramsetty family asks for privacy as they grieve. They have received an outpouring of love and faith. We will continue to honor him as he would want us to do,» the team shared on Facebook. The network assured the community that they would uphold Dr. Peramsetty’s legacy, stating, “Our clinics will remain open during this transition, and we will continue to provide uninterrupted care.”

The ferocious exchange of fire by Hezbollah and the Israeli military is raising fears of a regional war beyond the tense border

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Nari Hira, the founder and editor of Stardust Magazine, passed away on August 23 at age 86. Known as a significant figure in the Indian media industry, Hira pioneered in publishing popular magazines and ventured into film production, leaving a lasting impact on the media landscape. Hira's family expressed their deep sorrow in a statement, «It is with deep sorrow that we share the news of his passing, a pioneer in print media, a family man and father beyond compare, he leaves us behind heartbroken in his absence.» Born in 1938 in modern-day Karachi, Hira and his family moved to Mumbai following the partition in 1947. He started his career as a journalist in the 1960s but shifted focus to publishing, where he earned the moniker 'King of Indian Magazines.'

Magnificent Seven stocks, the leading tech companies riding the wave of AI excitement, have dominated this year's market rally, but also bore the biggest brunt during the global sell-off in early August. According to Deutsche Bank, these seven stocks were down by 18.1% from peak-to-trough, while the equal-weighted S&P 500 was only down 5.2%. Following an all-time high in July, several earnings reports led to increasing caution about the Magnificent Seven's dominance, with growing nervousness over the pace at which companies such as Meta or Microsoft would be able to translate huge AI ...

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

₹90,000 crore. To put that in perspective Vijay Mallya, who was accused of fraud and money laundering, owes Indian banks ₹9,000 crore. Another high-profile accused Jet Airways founder Naresh Goyal owes about ₹7,000 crore to various banks.

Chelsea under their American investors will be a fascinating case study about running a soccer club. Because no one in England or beyond has ever seen anything like what has been happening at Stamford Bridge over the last two years. Just take this in: Chelsea has spent nearly $1.3 billion on 39 players across five transfer windows since a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly and Clearlake Capital bought the Premier League club from its long-time owner, Russian oligarch Roman Abramovich, for $3.2 billion in May 2022. Throw in the club having four different full-time managers in this period — plus another coach on a temporary basis — and the revolving door at Chelsea, a six-time English champion and two-time European champion, simply hasn't stopped spinning.

Federal Reserve Chair Jerome Powell said on Friday «the time has come» for the U.S. central bank to cut interest rates as rising risks to the job market left no room for further weakness and inflation was in reach of the Fed's 2% target, offering an explicit endorsement of an imminent policy easing. «The upside risks to inflation have diminished. And the downside risks to employment have increased,» Powell said in a highly anticipated speech to the Kansas City Fed's annual economic conference in Jackson Hole, Wyoming. «The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.» Referencing the two goals that the Fed is tasked by Congress to achieve, Powell said his «confidence has grown that inflation is on a sustainable path back to 2%,» after rising to about 7% during the COVID-19 pandemic, while unemployment is increasing.

Nestle CEO Mark Schneider was ousted in a sudden move by the world's biggest foodmaker as a result of the group's underperformance, three sources familiar with the matter told Reuters on Friday. The company announced Schneider's departure late on Thursday following a board meeting and appointed veteran Laurent Freixe as its new CEO. That put an end to a near eight-year tenure at the helm by the 58-year-old German, the first company outsider to lead Nestle in nearly a century. Nestle declined to give further details beyond comments made on an investor call on Friday, where Chairman Paul Bulcke said the board together with Schneider had assessed the current environment and together had agreed to make the change.

St Stephen's College through the Common University Entrance Test (CUET) are encountering uncertainty. Although they were allocated seats based on their CUET scores, the college has denied them admission. One student's allocation status says ‘verified by convener', but it hasn't been processed further. Another student says she was never given the fee payment link after allocation. On contacting the college, they were told the seats were already full. This has left the students, all high-scorers, and their families in a catch-22 situation as they are not able to opt for their second choice now. According to a senior university official, the number of such candidates is 22.

Cruise’s trouble-ridden robotaxis are on the road to joining Uber’s ride-hailing service next year as part of a multiyear partnership bringing together two companies that once appeared poised to compete for passengers

Finra has censured and fined Barclays Capital more than a million dollars for reported longstanding lapses in fingerprinting and background screening procedures for non-registered employees.

Power Finance Corp (PFC) has committed about ₹21,000 crore toward helping build India's largest ever container port, the Vadhavan Port along the western coast, people aware of the development told ET. The big-ticket sanction comes almost two months after the union cabinet's approval of the ₹76,220-crore mega port project to be developed at Palghar district in Maharashtra. The project is to be developed by the Vadhavan Port Project Ltd, a special purpose vehicle formed by the Jawaharlal Nehru Port Authority and the Maharashtra Maritime Board. Prime Minister Narendra Modi is likely to visit Maharashtra on August 30 for its foundation stone laying ceremony.

₹5 lakh) for any loss to depositors due to bank failure. That’s at the individual level. At the macro level, deposit insurance plays a key role in instilling confidence in the banking system, enabling it to lend to the real sector and thereby keep the wheels of the economy well-oiled and running.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Lounge, Rawal and Bajaj talk about the creative alliance, the idea behind it and why fashion designers entering the space of luxury living is a good idea. Edited excerpts: Kunal Rawal: Boheim's commitment to bringing old-world charm in the 21st century, their dedication to showcasing Indian craftsmanship, and ability to infuse a sense of quirkiness into their projects, resonated with our own approach to bespoke artistry. When we design a collection, we focus on telling a story that is rich in detail, and that respects the brilliance behind every stitch.

«It is good if this can come up and with a good network of ports and connectivity. We are there to meet that requirement if it comes up. Second, your question was on where do we buy our ships from? We buy our ships in the second-hand market. We do not issue equity as a company and we have strict balance sheet criteria with regard to how much debt we take,» says G Sivakumar, ED & CFO, GE Shipping. I want to talk about your recently sold that older MR product tanker and took delivery of comparatively younger MR product tanker as well. Tell me, what kind of efficiencies does it really bring on the table for you with regards to financials? Also, are you anticipating any further changes in your fleet? G Sivakumar: Yes, we have been doing these transactions now for the last nine months. We have already sold out four ships, which are among the older vessels, and we have replaced them with slightly more modern ships of the same kind. This is twofold.

MK Surana, Former CMD, HPCL, says crude below $80 and the cracks at $13 for HSD and $11 for MS, make OMCs well placed on overall setup. Also, many of these OMCs are going on a new path. OMCs are in a stage where there is a growth potential with a surety of the existing cash. Of course, the overhangs on the pricing part continue to be there, the possibility or not possibility of some interventions. Pure EV play may take some more time and the hybrid may be more common in the near future to come and that augurs well for the OMCs. How do you see the outlook for oil marketing companies? On the one hand, Brent is continuously under check, under $80 now and on the other hand, these OMCs are transforming beyond just being distributors of traditional fuel as well. MK Surana: The stage looks good as of today because the crude is below the psychological mark of $80. The global demand weakness as per many of the agencies who forecast is getting moderated from all the three agencies who have been doing IEA, EIA, or OPEC. The Indian demand is good on the overall while the global demand is lower. People have started recognising the weaknesses in China's demand growing in the current phase.

₹21,381 crore, with investment income at ₹11,908 crore, and revenue surplus after tax at ₹24,559 crore. As an insurance company, it has an actuarial valuation for liability as of 31 March 2023 at ₹12,174 crore, but surplus collection to date beyond actuarial liability totalled ₹1,57,427 crore. The total funds available with the Deposit Insurance Fund are ₹1,69,602 crore, or 2.02% of the total insured amount.

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