Boost Financial News

Sebi has launched a backstop facility for debt funds to help them tide over a liquidity crunch in times of market dislocation. Here’s all that you need to know about the fund.Why is there a need for a rescue fund? Remember the Franklin Templeton mutual fund debt fund fiasco of 2020? Six of its debt schemes had to be wound down after a severe market dislocation dried up liquidity in their underlying holdings. This prevented the fund house from meeting a wave of redemptions without undertaking a fire sale.

India and Bangladesh commencing cross-border trade settlement in Indian rupee (INR) would promote two-way commerce by reducing transaction cost, an industry official said on Sunday. CII national committee on EXIM Sanjay Budhia said that since all exports and imports and settlement of trade transactions under this arrangement may be denominated and invoiced in INR, this would also reduce dependence on the US Dollar and would address situations like scarcity of forex reserves apart from strengthening regional currency and trade.

Turtles and a large shark led to a successful box office weekend, surpassing expectations and contributing to the growing success. 'Barbie' earned $53 million domestically, reaching $459.4 million in North America and $1 billion globally. This achievement is noteworthy for being the first live-action film directed by a woman to join the billion-dollar club. 'Barbie' has also become the highest-grossing live-action film domestically directed by a female. 'Meg 2: The Trench' opened with $30 million domestically, compared to 'The Meg's $45 million in 2018. It earned an additional $112 million overseas, starting its global run at $142 million. 'Oppenheimer' from Universal continued its strong performance, reaching $500 million worldwide. It earned $28.7 million domestically and an extra $52.8 million overseas, totaling $552.9 million globally. 'Teenage Mutant Ninja Turtles: Mutant Mayhem' surpassed expectations with a five-day debut of $43.1 million, including $28 million for the three-day weekend. The film's positive reception and A CinemaScore contributed to Paramount's position in the competitive family genre. 'Disney’s Haunted Mansion' saw a 63 per cent drop, earning $9 million domestically and $59.6 million globally. Angel Studios' 'Sound of Freedom' grossed $7.6 million domestically, totaling $164 million. 'Screen Gems, Stage 6 Films, and Blumhouse' celebrated 'Insidious: The Red Door' crossing $182 million globally, becoming the top-grossing Hollywood horror pic of the year.

Reliance Industries Ltd. said it expects shares of its financial services business to be listed soon as the conglomerate seeks to propel its recently carved out unit into India’s largest non-banking lender, leveraging the prowess of the digital and retail businesses.

Punjab & Sind Bank has reportedly planned to foray into mutual funds in a bid to expand their fee-based income. The bank aims to find a partner by September 2023. According to a report by news agency PTI, a senior official of the Punjab & Sind Bank has said that the bank has already floated a Request for Proposal to finalise a partner in the Fintech space.

India and the European Union (EU) will be held this month to take stock of the progress of talks on the proposed free trade agreement, according to an official. «The EU officials are coming for the G20 trade ministers meeting this month in Jaipur. There is a high-level meeting at the minister level on August 26 in the national capital between India and the EU.

Tether developers are set to release innovative JavaScript libraries created to facilitate the transmission of commands and signals to Bitcoin (BTC) mining hardware, including WhatsMiner, AvalonMiner and Antminer.

postpartum depression, a milestone considered likely to increase recognition and treatment of a debilitating condition that afflicts about a half-million women in the United States every year. Clinical trial data show the pill works quickly, beginning to ease depression in as little as three days, significantly faster than general antidepressants, which can take two weeks or longer to have an effect.

₹4,000 crore mark. Monthly revenues have surpassed this level consistently in every month of 2023 up to June. This signifies the highest toll collection ever achieved by the state-owned highway developer NHAI using FASTag.

By Shubham Batra and Bansari Mayur Kamdar

Novo Nordisk Global Business Services (GBS) and Manipal Academy for Higher Education (MAHE) have formally entered into a Memorandum of Understanding (MoU) with the aim of exploring collaborative opportunities within the pharmaceutical value chain and its application within the healthcare ecosystem, according to an official release.

Saudi Arabia says it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices

Nintendo is reporting a 52% increase in profit for the first fiscal quarter following the success of its Super Mario movie and the new Zelda video game

Damar Hamlin will expand his efforts to promote charitable giving by supporting a company that allows donors to give to nonprofits immediately, while actually paying later

By Kailyn Rhone

robotic grills to faster blenders with custom ice and milk dispensers, major US restaurant chains including Starbucks, Domino's, and Chipotle are touting new technologies to automate production, cut labor costs and potentially boost profit margins. Starbucks said it plans to roll out a coffee-making machine, the Siren System, in around 10% of its stores starting next year.

(Reuters) -Yum Brands topped market estimates for quarterly results on Wednesday, as cheaper meals and promotional offers at its KFC restaurants boosted demand and overshadowed lackluster traffic at Taco Bell and Pizza Hut.

Tupperware Brands Corp, Yellow Corp and other U.S. companies have soared in recent days, reminding analysts of so-called «meme stock» rallies in which strong demand from retail investors fueled huge gains in stocks that had fallen out of favor on Wall Street. Shares of trucking company Yellow jumped more than 78% on Tuesday, after more than doubling in the previous session, following a news report that private equity firm Apollo Global Management was nearing a deal to provide new capital to the firm after it ceased operations and prepared to file for bankruptcy.

BEIJING — Instead of handing out cash, China is trying to make sure consumers and businesses spend where it matters economically.

macroeconomic trends and will continue to set the pace (for the smartphone industry) for quite some time," Reuters quoted Bob O'Donnell, founder of TECHnalysis Research, as saying. In September, analysts anticipate the unveiling of the much-anticipated iPhone 15, which could feature the widely accepted USB-C port on certain models. This development may provide a slight boost to iPhone sales during the July-September quarter, according to market experts, who have differing opinions on the overall performance during this period.

Reliance Industries and Brookfield Asset Management have entered into an initial agreement with the aim of exploring opportunities for manufacturing renewable energy and decarbonization equipment within Australia. The Memorandum of Understanding (MoU) seeks to accelerate as well as de-risk Australia's energy transition by enabling local production of clean energy equipment, including PV modules, long duration battery storage, and wind energy components, the Indian conglomerate said in a press statement.