CEO Financial News

WhiteOak Capital Mutual Fund has launched the ‘‘WhiteOak Capital Balanced Hybrid Fund’, which is an open-ended balanced scheme investing in equity and debt instruments. The New Fund Offer (NFO) opened from today (October 5, 2023) and will remain open till October 19, 2023. 

The Reserve Bank of India on Friday maintained the pause in the repo rate for the fourth consecutive time, which is good news for homebuyers.

Supreme Court on Friday dismissed the Enforcement Directorate’s appeal against the Delhi High Court’s order granting bail to NSE's Chitra Ramkrishna in a money laundering case. Ramkrishna was arrested by the Central Bureau of Investigation (CBI) in March last year in connection with the alleged NSE co-location scam a day after her anticipatory bail application was dismissed by a trial court. Subsequently, she was arrested by the Enforcement Directorate (ED) in a money laundering case related to alleged illegal phone tapping of NSE employees. Ramkrishna, who headed NSE between 2013 and 2016, is being charged with illegal gratification through abuse of position and criminal conspiracy among other offences.

As Bitcoin continues its journey in the global financial landscape, its trajectory seems increasingly intertwined with expert predictions, sustainability initiatives, and strategic approvals. 

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “we are back to being neutral to overweight on cement, so that is one big change in stance. The second stance is that we were heavily underweight in pharma; we moved that to neutral because we see a lot of selective stocks that we can buy there. The third is in terms of the new-age IPOs. We are buying into these IPOs a few months after listing because the IPOs tend to have the prices jacked up a bit. Markets, a bit of a yes and no here. Bond yields are going higher. FIIs are selling. The logic is that if yields are going higher, FIIs will sell more and that will weigh down Indian markets. Is there logic in assuming that? No, some amount but I would say that it is more about the trend in future yields rather than the absolute level of the yields.

5G network roll-out in India has been remarkable and the country is among the top three nations with the largest 5G installed base in the world, a top Nokia official said. Nokia President and CEO Pekka Lundmark was addressing an event during the inauguration of the company's 6G research lab in Bengaluru on Thursday. «5G roll-out in India is truly remarkable. This has been one of the fastest telecom network roll-outs ever and means India is now among the top three countries in the world that have the largest 5G installed base, with 5G download speeds beating those found in many advanced markets,» Lundmark said. While there has been a decline in telecom gear shipment across major geographies, the 5G roll-out in India has been able to offset a dip in the business of Ericsson and Nokia. Nokia posted 333 per cent growth in India sales at about Rs 9,500 crore in the June quarter of 2023. Ericsson reported 74 per cent growth in net sales in the June 2023 quarter in «South East Asia, Oceania and India» to around Rs 10,700 crore of which around 90 per cent of its business comes from India. Reliance Jio and Bharti Airtel are expected to invest about Rs 75,000 crore in the current financial year to strengthen their networks, according to a report by JM Financial. According to the report, Jio may invest around Rs 42,000 crore and Bharti Airtel around Rs 33,000 crore in FY24, but the investment will taper down after their 5G network roll-out target is met as per their announcement. «We are satisfied with this work so far — but there is still more to do.

Air India on Friday announced that it has commissioned a mega warehouse facility in Delhi to facilitate storage of over 1,000,000 engineering spares that are integral to maintenance, checks and repairs of its aircraft and ground support equipment. The airline said the move will further enhance Air India’s fleet and operational efficiency and strengthen India’s expanding aviation ecosystem. Located in the proximity of Terminal 3, at the Cargo complex of Delhi Airport’s Air Cargo Logistics division, the centralized warehouse sprawling 54,000 sq. ft.

Elon Musk to charge ‘small’ monthly payment from X users to combat bots, falling revenue According to a Bloomberg report, the new three-tiered subscription plan will the social media giant generate more revenue from users who would not have been likely to pay the full price of the premium subscription. Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! More recently, Elon Musk had hinted in a conversation with Israeli Prime Minister Benjamin Netanyahu that X will start charging a small monthly payment from all users in order to eliminate the problem of bots.

SAT) has set aside the Securities and Exchange Board of India's order against Cairn India, now part of Vedanta Ltd, over alleged violation of buyback rules. The tribunal set aside a fine of ₹5.25 crore imposed on Cairn India for allegedly making a misleading public announcement of the buyback of shares on January 14, 2014. «The company could not have foreseen or predicted that the stock markets would witness this bullish trend at the time when the decision for going for a buyback was taken nor could the company be aware at the time of making the public announcement that the traded price of the scrip would be above the maximum buyback price on 68 days out of 123 trading days,» SAT said in its order on Thursday. It also set aside a penalty of ₹15 lakh each Sebi had imposed on P Elango, then CEO and a director of Cairn, and two other directors: Aman Mehta and Neerja Sharma.

The Economic Times Startup Awards in Bengaluru on October 7. Union cabinet minister Piyush Goyal and minister for state Rajeev Chandrasekhar will be the guests of honour at the marquee event where the country’s most coveted prize for entrepreneurial excellence will be presented to the winners of the 2023 edition.

Sebi) order barring former NDTV promoters Prannoy Roy and Radhika Roy from the capital markets for a period of two years for alleged insider trading. «The impugned order passed by the WTM dated November 27, 2020, against Prannoy Roy and Radhika Roy in appeal no. 557 of 2020 and 558 of 2020 cannot be sustained and is quashed,» SAT presiding officer justice Tarun Agarwala and technical member Meera Swarup said in order on Thursday. The appellate tribunal stated that the trades executed by the Roys were in conformity with the NDTV's Code of Conduct and the PIT Regulations since they had secured pre-trade clearance from the compliance officer of NDTV, which is an admitted fact in the show-cause notice. «There is no finding in the impugned order to the effect that the compliance office had acted improperly in granting permission to these two entities to sell during the period when the trading window was closed,» the order states. The SAT has also quashed the Sebi order relating to former NDTV CFO Saurav Banerjee, arguing that it cannot be sustained.

PwC Australia chief executive Kevin Burrowes will appear at the Senate inquiry into consulting next Thursday, the first time anyone from the firm has testified at the federal level since the extent of its tax leaks scandal became public in May.

Qantas says it has extended a Chairman’s Lounge membership to every secretary and deputy secretary in the federal bureaucracy, as well as the chair and chief commissioners of key government agencies.

By Sheila Dang

By David Shepardson

Bitcoin, the world's most valuable cryptocurrency, has seen a recent dip in trading value, currently resting at around $27,700, which is below its $28,000 threshold. However, this fluctuation in price may be due to the overall stability of traditional financial markets, which can be partly attributed to the slow growth rate of the US job market.

Embattled founder and CEO of defunct exchange FTX Sam Bankman-Fried (SBF) is on the cusp of suffering another series of major losses. 

A record-breaking fine has pushed Openmarkets to a $5.2 million loss, but the brokerage’s chief executive, Dan Jowett, says the Sydney-based company is still powering towards a Nasdaq listing by early next year.

A trade association mostly made up of certified financial planners launched an initiative Thursday to add members from Ameriprise Financial, an outreach effort that has a fiduciary advocate questioning how the credential’s advice standard squares with a dually registered firm.

Billionaire investor Ken Griffin's flagship hedge fund rallied last month when the broader market was rattled by tight monetary policy as well as rising recession fears, according to a person familiar with the returns.

Taylor Morrison CEO Sheryl Palmer discusses the headwinds facing the housing market after a drop in August existing home sales on The Claman Countdown.