Record News

Welspun One, an integrated fund and development management platform, has acquired 22-acre land in Gurgaon to develop a logistic park with an investment of Rs 125 crore. «This acquisition marks a significant step in expanding our footprint in one of India's vital logistics corridors. By leveraging this prime location, we aim to create a logistics hub that will not only support our tenants' operational efficiencies but also contribute to India's broader economic growth,” said Anshul Singhal, managing director, Welspun One. According to JLL, transaction advisor for the deal, the Gurgaon/NH-08 corridor boasts a total supply of 64 million square feet for Grade A and B spaces as of H1 2024.

This was inline with the estimates made by Eurostat, the statistical office of the European Union, at the end of July.  While services inflation dropped from May and June's reading of 4.1% to 4%, it was still judged to be the most significant contributor to the euro area annual inflation rate, according to data from Eurostat. Energy prices skyrocketed over the course of the last month, rising from a 0.2% rate of inflation to 1.2%. Tobacco was the only other item recorded to see an inflationary increase, jumping from 2.4% to 2.5%.  European Central Bank stands firm as it holds inter...

According to Morningstar's Asset Flows report, the surge in monthly inflows came on the back of strong interest in fixed income strategies, which attracted €42.6bn of net inflows in July, marking the strongest month since June 2019. Antje Schiffler, editor at Morningstar, noted that active fixed income strategies in particular attracted €32.7bn as a result of «robust interest in Asian local currency bonds», which accumulated €6.8bn. On the other hand, only €9.9bn flowed into fixed income passive funds. Meanwhile, equity funds enjoyed €10.1bn of net inflows in July, bolstered by passiv...

record date for the purpose of its 1:5 stock split, following which the stock closed 4.6% higher on BSE at Rs 555. “The Company has fixed Wednesday, 11th September, 2024 as ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division of every one fully paid-up equity share having face value of Rs. 10/- (Rupees Ten only) each in the share capital of the Company into five (5) fully paid up equity shares having face value of Rs. 2/- (Rupees Two only) each,” said the company in a filing to the exchanges.

RBI's) inflation targeting regime has worked well and need not be abandoned in favour of a more discretionary regime that could be risky and counterproductive, a new research paper has said. The paper titled 'Inflation Targeting In India: A Further Assessment' said the weight of food-price inflation in the CPI inflation basket should be reduced to better reflect the circumstances of Indian households. «The RBI's inflation targeting regime has worked well. Given this record, radical changes such as broadening its mandate or abandoning the target in favour of a more discretionary regime would be risky and counterproductive,» it said. The paper is authored by economists Barry Eichengreen (University of California, Berkeley) and Poonam Gupta (NCAER).

Mint. "It is part of our strategy, and perhaps we may do it earlier than planned. A clear indication from the regulator is that if you can do a particular business in the bank, you should not be doing the business in a subsidiary.

Benchmark indices ended on a flat note in a lacklustre trade on Monday, as investors preferred to remain on the sidelines awaiting further triggers. In today's trade, shares of IndusInd Bank, Zomato, Saraswati Saree Depot, HCL Tech, Poly Medicure among others will be in focus due to various news developments. IndusInd Bank

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US stock market indexes traded higher on Monday as Wall Street and S&P 500 posted longest winning streak since November. S&P 500 rose 54.00 points to 5,608.25. The Dow Jones gained 236.77 to 40,896.53, and the Nasdaq composite jumped 245.05 to 17,876.77. This came after the index's best week of the year. S&P 500 rallied 1 per cent for its eighth straight gain. That clinched its It’s back to within 1 per cent of its all-time high after falling close to 10 per cent below the mark earlier this month. Dow Jones Industrial Average gained 236 points, or 0.6 per cent, and the Nasdaq composite jumped 1.4 per cent.

Jeffrey Gogo is a journalist with 20 years of experience in business, finance, cryptocurrency, and climate change news and analysis.

Company registrations declined almost 11% year-on-year in July, after a 12% increase in the previous month, showed corporate affairs ministry data. An official attributed the fall to an unfavourable base effect.

Alimentation Couche-Tard made a proposal to take over much larger rival and 7-Eleven owner Seven & i Holdings Co, in what would be the biggest foreign takeover of a Japanese company. A merger would create the world's top operator of roughly 100,000 convenience stores. Valued at the equivalent of $31 billion before news of the offer emerged, Seven & i shares jumped 23% on Monday. The company said the bid was preliminary and non-binding, without disclosing terms. A special committee of independent outside directors will make a «prompt, careful and comprehensive review of the proposal,» Seven & i said in a statement Monday. Couche-Tard confirmed it made a «friendly, non-binding proposal» but gave no details, and said it's not certain an agreement will be reached.

capacity utilisation, improved profitability of corporates, sustained credit demand, business optimism and government’s thrust on infrastructure development, is likely to increase the pipeline for project finance. An article in the Reserve Bank of India’s (RBI) monthly bulletin estimates that envisaged capex will increase significantly to Rs 2.45 lakh crore in 2024-25 from Rs 1.59 lakh crore in 2023-24. “The significant rise in envisaged capital investment of private corporates, based on the projects sanctioned by banks and financial institutions (FIs) during 2023-24, points to upbeat investment cycle. The total cost of projects sanctioned by banks/FIs increased to a record high of Rs3.90 lakh crore. Infrastructure sector continued to attract the major share of envisaged capital investment, led by ‘roads & bridges’ and ‘power’ sectors, reflecting the government push towards infrastructure development,” said an article from officials of RBI’s Department of Statistics and Information Management. The article said that healthy corporate and bank balance sheets, improved corporate profitability, sustained credit demand, rising capacity utilisation, and optimism in business provide conducive environment for private corporates to undertake investments going forward.

19-year-old Chinese-American pilot who is on a worldwide mission to raise funds for childhood cancer research is preparing to land at the Indira Gandhi International Airport in Delhi next week in pursuit of a world record of flying solo to all seven continents. Ethan Guo, born in Tianjin and resident in Florida, developed a passion for aviation at the age of 13 and has since amassed over 700 flight hours. His 'Flight Against Cancer' Guinness World Record attempt mission began in Geneva, Switzerland, to cover over 50,000 miles with more than 75 take-offs and landings across 60 countries — with India scheduled for next week. «The trip has been challenging, but when you care about something, you give it your all and fight for it,» Guo told PTI in a statement from Saudi Arabia.

NewEdge Wealth has expanded its reach in Pennsylvania with a team of four advisors joining the firm from Morgan Stanley.

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equity mutual fund folios reached a record 5.4 million in July, according to the data from the Association of Mutual Funds in India (AMFI). This surge was driven by the launch of new sectoral funds, leading to inflows of nearly Rs 10,000 crore. The number of newly added folios in July is almost three times higher than the monthly average of 1.8 million over the past two years. Sectoral funds contributed nearly half of the incremental folios in July with inflows of Rs 9,790 crore. This boost was attributed to the new fund offers (NFOs) of the Edelweiss Business Cycle Fund and the ICICI Prudential Energy Opportunities Fund. A new fund offer by mutual funds often results in a significant increase in the folio count. A single investor may hold multiple folios for different schemes of an asset management company (AMC). An increase in folio count without a corresponding rise in unique investors indicates that existing investors are increasing their equity allocations by subscribing to new fund offers.

Aug 19th, Panama – Gate Ventures, the venture capital arm of Gate.io, and the Blockchain Center in Abu Dhabi, a global hub for Web3 technologies, are pleased to unveil Falcon Gate Ventures, a $100 million fund aiming to drive Web3 innovation in the coming years. This joint venture initiative takes a global stance to support Web3 builders that are committed to reshaping the world in the digital age.

(Bloomberg) — Circle K operator Alimentation Couche-Tard Inc. made a proposal to take over much larger rival and 7-Eleven owner Seven & i Holdings Co., in what would be the biggest foreign takeover of a Japanese company. A merger would create the world’s top operator of roughly 100,000 convenience stores.

Shraddha Kapoor is celebrating the success of her newest movie ‘Stree 2’. The quirky horror-comedy, which is the sequel to the 2018 blockbuster ‘Stree’, has been shattering box-office records since its release. According to a report by box-office tracking portal Sacnilk.com, the Kapoor-Rajkummar Rao-starrer is inching closer to the Rs 300 crore mark. The horror-comedy film raked in more than Rs 280 crore worldwide within its first four days in theaters. ‘Stree 2’, which hit cinemas on Thursday, was met with favorable reviews.

market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia. The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt. Plans also include adding eligible asset-backed securities and a requirement for independent external reviews of all ESG debt, according to a consultation paper released Friday.