Align Financial News

Canada-based crypto trading platforms (CTPs) are facing tight regulatory deadline from the Canadian Investment Regulatory Organization (CIRO). The crypto operators are required to comply with the deadline to complete their applications to receive an investment dealer status.

Carson Group is on the move again as it adds a Texas-headquartered planning firm to its network of partnerships.

Grihum Housing Finance, formerly Poonawala Housing Finance, reported a net profit after tax of Rs. 48 crore for the first quarter of this fiscal, up 77% on year. The housing finance company has assets under management of Rs. 8,700 crore, up 33% on year. “Our organisation now serves more than 80,000 customers. The Company is proactively aligned with regulators and financial institutions, and we have registered stable growth”, said Manish Jaiswal, Managing Director and Chief Executive Officer of Grihum Housing Finance Limited.

Toyota Kirloskar Motor (TKM), the Indian arm of the Japanese auto giant Toyota, would want to use such technologies that align with its commitment to reducing carbon footprint as well as cutting down on the use of fossil fuels, Deputy Managing Director Swapnesh Maru said, while adding that they are cognizant of India’s energy scarcity and security situation. The TKM veteran, in a chat with ET, said his company had been adopting technologies that help cut down on emission. The company always pursued pathways that led to the best results, and adoption of a single technology would not achieve that, he said. “In a country as diverse as India, there is no one single best technology to achieve our objectives,” the Dy MD said, adding that they would continue to work on a multi-pronged approach for the Indian market. Hybrid vehicles and blended fuels came close to meeting these goals. “Today, energy scarcity and security are one of the biggest challenges. Any technology that will bring down carbon footprint or use of fossil fuel would be our priority.”

The wheels of consolidation are continuing to turn at Focus, the Clayton Dubilier & Rice-backed RIA aggregator, as it unveils another merger agreement between two of its partner firms.

Diversification has become a strategic imperative for organisations seeking sustained growth and resilience. By expanding into new markets, products, or services, businesses can mitigate risks associated with economic downturns, industry shifts, and unforeseen challenges. The data centre industry stands as a prime example of this trend.

With its population of 1.4 billion and a massive manufacturing industry, China is by far the world's largest emitter of the greenhouse gases that scientists say drive climate change and make extreme weather more frequent and intense. Until now the country had set itself climate targets based on the carbon intensity of its economic growth, meaning it set objectives to reduce its emissions per unit of wealth produced.

aviation sector with the introduction of the Bhartiya Vayuyan Vidheyak Bill 2024 in the Lok Sabha. This Bill replaces the Aircraft Act of 1934, which has undergone 21 amendments over the years and aims to align the Indian aviation sector with global standards. The proposed legislation, consisting 44 clauses, seeks to streamline regulations and foster growth in India’s rapidly expanding aviation market. The Bill was introduced in Parliament last week.

Chief of Defence Staff Gen Anil Chauhan and senior military officials are likely to hold wide-ranging deliberations on Monday on the government's plan to bring greater synergy among the Armed Forces in the area of financial planning in line with ensuring tri-services jointness. Gen Chauhan is set to elaborate on the plans while chairing an apex conference on financial synergy and cohesion in the Army, the Navy and the Air Force, officials said on Sunday. The deliberations on ensuring synergy among the Armed Forces on financial planning are taking place amid the government's ambitious plans to roll out theatre commands. Under the theaterisation model, the government seeks to integrate the capabilities of the Army, the Air Force and the Navy and optimally utilise their resources for wars and operations.

Adani Cement-owned Ambuja Cements will be investing Rs 1,600 crore in the Nawada district of Bihar to set up a six-million-tonne cement grinding unit. This is not only the first investment by the Adani group in Bihar, but also the largest investment for the state from the cement industry. The project will be set up in three phases in the states, with the first phase entailing an investment of Rs 1,100 crore, a capacity of 2.4 million tonne, and completion targeted by December 2025. “This investment aligns with the State Government's development programs and our growth plans,” Pranav Adani, director of Adani Enterprises was quoted in a release. “State Government’s support in fast tracking and provisioning of all permits has made this landmark investment possible in short time,” he said.

chatbots were tested for their political inclination, most of them revealed a left-of-centre stance, a study has revealed. However, when the chatbots, including ChatGPT and Gemini, were tested after being «taught» a certain political inclination — left, right or centre — they produced responses in alignment with their «training,» or «fine tuning,» David Rozado, a researcher from Otago Polytechnic, New Zealand, found. This shows that chatbots can be «steered» towards desired locations on the political spectrum, using modest amounts of politically aligned data, the author said in the study published in the journal PLoS ONE. Chatbots are AI-based large language models (LLMs), which are trained on massive amounts of textual data and are, therefore, capable of responding to requests framed in the natural language (prompts).

IT hardware industry has sought clarity around applicability of manufacturing quotas, including criteria and import quantities of products like laptops and tablets that may be allowed under the new import authorisation mechanism, that is set to come into force from October 1 this year. The clarifications were sought in a recent meeting with the Ministry of Electronics and IT (Meity) officials. Companies such as Dell, HP, Foxconn, Acer, Asus, Flex and Dixon technologies are among the major IT hardware manufacturers in India. «The industry players wanted to understand what will happen after October 1, when the new system kicks-in. They need clarity so that they can plan accordingly. We have taken their questions and will revert soon,» an official told ET.

Cetera Financial Group continues its expansion into the credit union space as it forges ties with a new partner institution in California.

indexation benefit from the capital gain tax on property has spooked him. “The new taxation is good for short-term investors but not long-term investors. I calculated the tax outgo for the three properties in Bangalore I had held for over ten years. My tax outgo is 3x now without indexation. In many cases, I would not have paid any tax and had the option to offset them over the eight years,” he said. Experts say that the recent abolishment of indexation benefits on property sales is expected to slow down the resale residential market and deter owners of older properties and investors due to increased tax liabilities reducing potential profits. This change will likely moderate price growth in the resale segment and increase reduced transparency in value to avoid higher taxes, undermining efforts to formalise the real estate sector, they said.

₹27.5 lakh annually) by 2030. This has meant a growing emphasis on growth driven by premiumization. However, there is also significant potential to enhance market penetration overall by prioritizing product affordability to expand both the scale and quality of consumption.

The 2024 Budget has reshaped the investment landscape, making exchange-traded funds (ETFs) significantly more attractive compared to funds of funds (FoFs). With changes in tax treatments for gold, silver, and overseas investments, ETFs now offer a compelling advantage due to their shorter holding periods and trading flexibility.

Sunil Dahiya, a South Asia analyst at CREA, said, “This ongoing issue highlights the need for stronger regulations and a focus on reducing emissions. Using better technology and data can help control pollution.” He added, “India’s standards are more lenient than WHO’s, which can lead to long-term exposure to harmful particles. Research shows that even short-term exposure to PM2.5 in India poses significant health risks, suggesting that air quality standards need to be updated to better align with international guidelines to prevent diseases.”

land parcel in Akurli area of Mumbai’s western suburb Kandivali for Rs 210 crore to a Pune-based company Rucha Group’s real estate development entity Blueprintify Properties. Interestingly, the company has sold the property for less than its ready reckoner value or over Rs 223.58 crore. The said land parcel falls under No Development Zone and is bounded by the Sanjay Gandhi National Park on the east and south side. The Mahindra Group itself also has a real estate development company Mahindra Lifespace Developers.

The Michigan Supreme Court has overruled the Legislature and reinstated major changes to the state’s minimum wage and sick leave laws

Bluespring Wealth Partners has bolstered its network yet again, this time with a deal for a powerhouse retirement planning team managing more than a billion dollars for clients in Pennsylvania.

Selling property: Will your taxes skyrocket by 1,000% post Budget announcement? To quantify the impact, we analysed the compound annual growth rate (CAGR) of real estate prices, the holding period, and the cost inflation index. Our calculations show that the effective tax rate under the new regime is only lower if the real estate’s CAGR significantly exceeds historical averages. For a 20-year holding period with a cost inflation rate of 5.5% a year, the CAGR must be above 9.48% for the new tax structure to be advantageous.