CEO Financial News

World Cup is set to bring cheer to temp and gig workers by creating up to 100,000 additional jobs and boosting salaries. The demand for manpower for the duration of the tournament being held in India is expected to range from 50,000 to 100,000 workers, according to estimates of recruitment services providers Persolkelly, CIEL HR and TeamLease. Another staffing firm, Randstad India said companies are witnessing at least 40% increase in salaries of gig and temp workers amid rising demand during the World Cup as well as the festive season. Yeshab Giri, chief commercial officer of staffing and Randstad technologies at Randstad India, said the firm expects «anywhere between 40-60% increase in salaries for gig workers in the middle to high-income bracket of ₹40,000 to ₹1,50,000 per month». Kartik Narayan, CEO staffing at TeamLease Services, said, «Food and beverages, grocery, ecommerce, and hotel accommodation industries are ramping up hiring temporary employees.» Ripple effect will also include a jump in demand for television sets, high-speed internet connections, over-the-top (OTT) subscriptions, and online ticket sales, he said. Roles in demand include event managers, coordinators, executives for customer support, sales, merchandising, maintenance staff, bouncers, ground staff, housekeeping and security staff, technology service providers, ushers, ticket takers, concession stand workers, hospitality staff, transportation staff, and delivery partners. Demand for workers in hospitality, merchandising, facility management, and field sales are largely concentrated in cities selected as the World Cup venues while delivery agents and sales executives are required across the country.

U.S. electric automaker, Mullen Automotive (NASDAQ:MULN) announced Monday the appointment of Marianne McInerney to the position of Chief Strategy Officer.

BENGALURU : Former India head of Xiaomi Manu Kumar Jain is joining G42 as the chief executive officer (CEO) of its India business. Abu Dhabi-based G42 is an artificial intelligence(AI) and cloud computing company that is set to expand to India. “After building the largest smartphone company and one of the biggest fashion e-commerce companies in India, I am embarking on a new and exciting adventure.

Web Werks and Iron Mountain Data Centers will invest Rs 1,800 crore to set up two data centres in Chennai. The JV has acquired a four-acre parcel of land in Ambattur, Chennai, to house these data centers (CHE-1 and CHE-2). «Joint Venture of Web Werks — Iron Mountain Data Centers will invest more than Rs 1,800 crore to develop two data centres in Chennai. The investment will be made in a phased manner and be fully operational by the mid of 2025,» Web Werks Data Centers founder and CEO Nikhil Rathi said in a statement on Monday.

Home loan foreclosure enables you to pay off home loans well before the scheduled tenure. It allows borrowers to settle the outstanding loan amount in a lump sum, effectively concluding their home loan obligations ahead of time.

By Michael Erman

Mumbai, 21/09/23 — iDigitalise, a leading technology and digital marketing solution agency, is thrilled to announce the opening of its first overseas office in the vibrant city of Tirana, Albania. This significant milestone represents a strategic move to enhance our global presence and better serve our clients in the region. The new office in Albania is a testament to iDigitalise's commitment to providing innovative and cutting-edge digital solutions to businesses worldwide.

Evercore ISI cut Splunk Inc (NASDAQ:SPLK) to an In-Line rating (From Outperform) while maintaining their 12-month price target of $157.00 on the stock to reflect the company’s pending acquisition by Cisco (NASDAQ:CSCO).

Aircraft Recovery Training School on the premises of Kempegowda International Airport here. The newly set up institution is entirely dedicated to providing specialised aircraft recovery hands-on training, equipped with state-of-the-art Disabled Aircraft Recovery Equipment (DARE), it said.

It comes as the 13th round of free trade agreement (FTA) negotiations are ongoing between India and the UK, expected to significantly boost the bilateral trade partnership estimated at around GBP 36 billion in 2022. «It's fantastic to see even more UK companies thriving in India this year, generating thousands of jobs and delivering significant growth for both our countries,» said UK Minister for International Trade Nigel Huddleston, in a message for the report launch.

Pep announced it has raised $2.5 million in seed funding from India Quotient and other angel investors, including Meesho cofounders Vidit Aatrey & Sanjeev Barnwal, Cred’s Kunal Shah and Fynd’s Farooq Adam. Parag Bhide, Sambhav Mehrotra, Sridhar Subramanian, Ravindra Yadav, and Sargun Gulati also participated in the round.

At a time when home loan interest rates are over 9% and likely to remain high till the inflation outlook improves, existing borrowers need to look at various options to prepay the loan periodically and reduce the interest burden without sacrificing their existing investments for achieving crucial financial goals. The Reserve Bank of India in its bi-monthly monetary policy meet has kept the repo rate unchanged at 6.5% for the fourth consecutive time.

Unsold housing stocks in Tier 1 cities in India dropped to 5,08,464 units in Q3 2023 from 5,26,497 units in Q3 2022, representing an 11% decrease.

In India, the festive season is the time of heightened spirits and collective celebration, marked by joyous occasions initiating from Ganesh Chaturthi and culminating with the grandeur of Diwali. It is a period traditionally considered auspicious for embarking on new ventures.

LONDON — Shares of the U.K.'s Metro Bank were sharply higher Monday morning, after the lender on late Sunday announced it had secured a £325 million ($395.6 million) capital raise and £600 million in debt refinancing.

Mitsubishi, one of Japan’s biggest investors in Australian resources, has called on the Labor government to ensure a stable investment environment, warning the clean energy transition needs to be approached with caution.

Andrew Forrest’s Squadron Energy will spend as much as $20 billion by 2030 to build out its renewable projects, CEO Jason Willoughby said, illustrating the scale of the company’s ambitions.

We are racing towards a future in which the global financial system will be predominantly digitised. Consumer expectations are increasingly demanding faster services covering loan approval, payment methods and settlements which are being delivered via the New Payments Platform and open banking reforms.

The stuttering energy transition is forcing big industrial companies like Boral to temporarily shut down cement production to avoid peak electricity prices, putting at risk the nation’s build-out of housing and infrastructure stock.

The chief executive of the $24 billion oil and gas group Santos says the world will always need fossil fuels in some form, and there will be a large role for gas beyond 2050.

Bitcoin is currently trading at $27,955, experiencing a marginal 0.25% decline on Monday. In a notable development, the CEO of OpenAI has lauded Bitcoin as the "super logical" step on the tech tree, highlighting its significance in the evolving technological landscape.