Align Financial News

While Vitalik Buterin may be stepping away from the Layer 2 investment landscape, the sector is far from cooling down as new Ethereum Layer 2 project, Pepe Unchained ($PEPU), has recently surpassed the $12.5 million mark in its ongoing presale.

Dubai-based fintech company Avenix Fzco has introduced Trendonex, a new forex robot designed for the MetaTrader 4 (MT4) platform. This Expert Advisor (EA) aims to assist traders in identifying trends, determining entry points, and managing trades in the forex market.

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Deepika Padukone and Ranveer Singh, have welcomed their first child, a baby girl, according to media reports. Prior to the birth, Deepika and Ranveer visited Mumbai’s famous Siddhivinayak Temple to seek blessings from Lord Ganesha for their impending new arrival. Reports indicate that both mother and baby are in good health, and the family is thrilled with the arrival of their little princess.

Anil Agarwal has said. The proposed demerger will create independent companies housing aluminium, oil and gas, power, steel and ferrous materials, and base metals businesses. The existing zinc and new incubated businesses will remain under Vedanta Ltd. «Our expansionary moves are aligned with our business model transformation. The upcoming demerger of our diverse verticals that represent more than 15 commodities, will see us progress from being asset managers to asset owners,» Agarwal said in a latest report. As the company passes through the transition phase, Vedanta is focusing on consolidating and strengthening its asset base to emerge as world leaders in each of its verticals, the Chairman said.

Swiggy on Saturday launched an initiative to provide skilling and employment opportunities within Swiggy's food delivery and the quick commerce network. The partnership will benefit 2.4 lakh delivery partners and staff of restaurant partners associated with Swiggy. The initiative will provide employment, internship and training opportunities for people in restaurant operations, and various aspects of retail management. Under the Swiggy Skills initiative, its delivery partner platform will be integrated with Skill India Digital Hub (SIDH), providing access to online skill development courses, certifications, and training modules to Swiggy's workforce.

Apple is set to unveil the iPhone 16 series at its “It’s Glowtime” event on September 9 at 10:30 PM IST. The highly anticipated launch is expected to introduce four new iPhone models—iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max. As with every iPhone release, Apple is likely to bring multiple upgrades to both the standard models (iPhone 16 and iPhone 16 Plus) and the Pro versions. Rumours suggest that the new iPhones will be available for pre-order shortly after the launch, with sales potentially starting by September 20. However, certain Apple Intelligence AI-based features might not be available at launch. Here’s a look at the expected changes for the iPhone 16 and iPhone 16 Plus models.

Public Provident Fund (PPF) is highly popular as a fixed income product because of its long-term guaranteed earnings and tax benefits. By contributing small amounts on a regular basis, the PPF scheme enables you to start saving and build a fund that aligns with your financial objectives.

New Fund Offer (NFO) is the initial subscription period when a mutual fund is launched. During this time, investors can purchase units of the mutual fund at a set price, usually Rs 10 per unit. NFOs are a way for asset management companies (AMCs) to raise capital for investing in the market based on the specific strategy or theme of the fund. Once the NFO period ends, the mutual fund units can be purchased at the prevailing Net Asset Value (NAV) in the open market. New fund offers (NFO) in mutual funds is similar to initial public offering (IPO) where a company before launching its share on the stock exchange offers the shares to the investors for subscription. In a similar manner, before launching the fund officially in the market the mutual fund houses offer the units so that investors are able to make an investment in that particular fund. NFOs can be of different types, such as equity funds, debt funds, hybrid funds, or thematic funds, and may come with unique features or investment themes that differentiate them from existing funds. For investors, NFOs provide an opportunity to enter a fund at its inception and potentially benefit from its growth over time.

₹3,500 over and above its regular fare, Air India Express tagged its business class seats at about ₹16,000 in the Delhi-Mumbai sector. That’s still lower than the ₹26,000 charged by its parent entity, the Tata Group-owned full service Air India, for a business class seat on the same route. “We would have replaced these business class seats earlier itself if these replacements were available earlier," a senior Air India Express executive said on condition of anonymity.

Dutch government on Friday said it would expand export licensing requirements for some ASML chipmaking equipment, effectively retaking oversight over it from the United States and aligning the two countries' policy. The United States had previously unilaterally regulated those tools, as part of its campaign to restrict access to advanced technology by Chinese chipmakers who could contribute to Beijing's technological and military advances. ASML said in a statement that it did not expect the change in oversight to impact earnings this year or in the future.

Mercedes-Benz India, the nation's leading luxury carmaker, argues that any tax relaxation on petrol-battery hybrids could cause industry distortion and hinder the adoption of zero-emission electric vehicles, ToI reported. Mercedes contends that lower tax rates for electric vehicles (EVs) are essential to maintain their affordability compared to petrol, diesel, and hybrid vehicles. «Today, consumers are not ready to pay a premium for a sustainable mobility solution. They want the prices (of EVs) to be the same or even cheaper if possible (and) in that context, I think a continuation of difference in taxation will help in better adoption, or faster adoption, of EVs,» said Santosh Iyer, MD and CEO of Mercedes India. Currently, the Goods and Services Tax (GST) on electric vehicles is 5%, whereas larger hybrids face a 43% tax and regular petrol cars are taxed at 48%. «So, technically the govt has a three-tier approach, and the request is to just continue the approach so that it is beneficial in the long run,» Iyer added.

₹80 lakh on Sebi, the National Stock Exchange of India (NSE), and the BSE on August 26 for illegally freezing the demat accounts of two people erroneously classified as promoters. The powers of the exchanges stem from Sebi circulars dated 30 November 2015 and 26 October 2016, which prescribe the standard operating procedures for how to deal with non-compliance of norms by listed companies. Legal experts said the promoters of a company might not necessarily be the people making decisions.

Kangana Ranaut announced on Friday that the release of her much-anticipated film "Emergency" has been postponed due to pending certification from the Central Board of Film Certification (CBFC). Initially slated for release on September 6, the new release date will be announced soon. The decision comes after the Bombay High Court stated it could not direct the CBFC to issue the certificate, aligning with an earlier MP High Court order. Taking to X (formerly known as Twitter), Kangana Ranaut wrote, «With a heavy heart I announce that my directorial Emergency has been postponed, we are still waiting for the certification from censor board, new release date will be announced soon, thanks for your understanding and patience.»

Narendra Modi on Friday called the conservation of water and environment a part of India's cultural consciousness, pitching for the «reduce, reuse, recharge and recycle» mantra to save water. He was virtually speaking at a programme marking the launch of the 'Jal Sanchay Jan Bhagidari' initiative in Surat, a step aimed at strengthening community involvement in water conservation. «For water conservation, we have to work on the mantra of 'reduce, reuse, recharge and recycle'. We also need to adopt innovative techniques and the latest technology to conserve water,» said the PM. Modi said India has just four per cent of freshwater resources, and many parts of the country face a water crisis.

financial services sector, with banks playing a pivotal role, a report released by Boston Consulting Group (BCG) in association with FICCI and Indian Banks’ Association has said. The report titled “Banking for a Viksit Bharat” says that since India, is a predominantly bank-led economy, it will require the banking sector to play an anchor role while the other financial asset classes continue to grow much faster. This will require $4 trillion of capital base in banks, one-third of which will have to be fresh capital deployment, the report said. India's banking system is in a strong position today – characterized by high profitability, robust capital adequacy, and low levels of non-performing assets (NPAs).

Stocks that were in focus include names like GIC Re, which fell 0.013%, Cochin Shipyard, which declined 0.93%, and Vedanta, whose shares gained nearly 1.8% on Thursday.

wealth surge more than ₹10,300 crore (as on August 30), as their employee stock options (Esop) allocations in the past two years fared exceedingly well on the bourses. Data of Esop issuances-put together by Esop Direct-by 12 sector frontliners in the Nifty 50 showed that about 90 million options were issued over FY23 and FY24. Companies using this talent-rewarding tool include L&T, Infosys, ICICI Bank, JSW Steel, Bharti Airtel, ITC, UltraTech Cement, Bajaj Auto, Reliance Industries, UPL, Asian Paints, and Dr Reddy's Laboratories. Officials and board members said these long-term incentives such as Esops were increasingly used by large Indian companies as a major tool to reward and retain top talent in the years where poaching was becoming rampant. «The data shows an increasing trend among listed Indian traditional sector companies to use Esops to reward and retain top talent by aligning their wealth creation with that of the company's growth,» said Jalaj Sinha, head, business development, Esop Direct (a Qapita Group Company).

industrial development, with the National Industrial Corridor Development Programme (NICDP) playing a critical role. Aligned with the vision of a «Viksit Bharat,» this ambitious initiative aims to establish a grand necklace of industrial smart cities along the backbone of the Golden Quadrilateral.

responsible investment practices that seek to help institutional investors and service providers. The ICSI Guiding Principles on Stewardship (IGPS) is a framework of ethical stewardship practices to empower institutional investors and service providers, it said in a release. The framework outlines best practices for responsible investment, encompassing environmental, social, and governance factors. It aligns with the global trend and offers much needed guidance towards sustainable and responsible investing, the Institute of Company Secretaries of India (ICSI) said in the release.

IISc) and their collaborators have designed a new supercapacitor that can be charged by shining light on it. Such supercapacitors can be used in various devices, including streetlights and self-powered electronic devices such as sensors. Capacitors are electrostatic devices that store energy as charges on two metal plates called electrodes. Supercapacitors are upgraded versions of capacitors – they exploit electrochemical phenomena to store more energy, explains Abha Misra, Professor at IAP and corresponding author of the study published in the Journal of Materials Chemistry A, IISc said in a statement. The electrodes of the new supercapacitor were made of Zinc Oxide (ZnO) nanorods grown directly on Fluorine-doped Tin Oxide (FTO), which is transparent. It was synthesised by Pankaj Singh Chauhan, first author and CV Raman postdoctoral fellow in Misra’s group at IISc. Both ZnO and FTO are semiconductors with appropriately aligned energy levels, enabling superior performance of the photo-rechargeable supercapacitor. FTO, being transparent, allows light to fall on the optically active ZnO nanorods, which charges the supercapacitor. Chauhan said that two electrolytes – a liquid and a semi-solid gel – were used as the conducting medium between the electrodes, the statement added.