CEO Financial News

Shriram Housing Finance Limited (SHFL) and International Finance Corporation (IFC), a member of the World Bank, have entered into a partnership to launch an affordable green housing lending product for self-constructed homes. The project will deploy IFC’s excellence in design for greater efficiency (EDGE) certification tool for the affordable self-construction segment customers and impact monitoring tool (CAFI) for reporting of green affordable housing. IFC will provide training and capacity building for SHFL teams on the principles and applications of the EDGE software, standards, and certification system. The training will support SHFL in promoting construction of green self-built houses among its potential customers and assessing green components in constructed units for green certification. Ravi Subramanian, Managing Director & CEO, SHFL said, “Who better than to partner with for our affordable green homes financing initiative than IFC.

Amazon's CEO Andy Jassy communicated a new policy requiring employees to be present at the office for a minimum of three days per week. This decision was met with opposition, leading to protests and resignations from employees unwilling to relocate to the central offices.

Reliance Industries Limited (RIL) Chairman Mukesh Ambani announced that RIL's Jio would introduce new AI systems, similar to OpenAI's ChatGPT, for India. Ambani expressed a commitment to provide AI accessibility to all Indians and lead in creating India-specific AI models and solutions. Interestingly, this announcement seems to follow OpenAI CEO Sam Altman's comments about India's AI efforts being "hopeless," which he later clarified as being taken out of context.

₹10 crores. Also read: Rajasthan vendor lodges FIR against 4B Network's Rahul Yadav alleging fraud: Report The Mumbai Police's Economic Offences Wing (EOW) previously filed a First Information Report (FIR) in this case and issued a look-out notice for Yadav and Saini. The complaint, filed by Omprakash Nowal of Interspace, alleges that the accused engaged his firm to install billboards in Pune.

Aditya Birla Sun Life Frontline Equity Fund, the flagship scheme of Aditya Birla Sun Life Mutual Fund, completed 21 years in the market. The scheme has offered 19.02% since its inception. The scheme manages assets of Rs 23,758.17 crore, making it the largest scheme in the large cap category. Launched in 2002, Aditya Birla Sun Life Frontline Equity Fund has offered 18.03% in 20 years, 15.53% in 10 years, 11.13% in five years, and 20.75% in three years. During the same periods, the benchmark (Nifty 100 — TRI) offered 16.24%, 15.09%, 11.54%, and 19.86% respectively. This shows that the scheme has outperformed its benchmark in all the horizons, except the five-year horizon. An lumpsum investment of Rs 1 lakh at the time of launch of the scheme would have now grown to Rs 38.72 lakh, with a CAGR of 19.02%. A monthly SIP of Rs 1,000 since the inception of the fund would have grown to Rs 17.17 lakh, with a XIRR of 16.02%. A monthly SIP for a period of 10 years would have offered 13.27% returns. In the seven-year horizon, the scheme offered an XIRR return of 13.90%. In the five-year horizon, the scheme offered XIRR returns of around 16.61%. In the three-year horizon, the scheme has offered 16.35% SIP returns.

Tata Power Renewable Energy Limited (TPREL), renewable energy subsidiary of Tata Power, signed a group captive power delivery agreement (PDA) for 4.4 MW AC with the Anand Group, a global automotive systems and parts industry leader. Under this agreement, TPREL will facilitate the generation of 10 million units of clean energy through renewable sources. The project is expected to eliminate 5500 tonnes of carbon emissions annually, aligning with TPREL's mission to create a greener and cleaner future for its Commercial and Industrial (C&I) customers.

Advertising Standards Council of India (ASCI)—a self regulatory organisation whose directives are not legally binding—launched ASCI academy, an initiative to ensure responsible advertising campaigns, on Monday. The ASCI academy will provide courses for a range of people from students to influencers, in line with advertising regulations and ethical practices. The courses will be offered online, in person and in hybrid models, through e-learning modules, masterclasses and faculty development programmes. While ASCI normally plays a role post ad publication or broadcast, this initiative is aimed at intervening at the time of creation to ensure guidelines awareness are followed at the time of ideation and approval of an ad. “With short campaign durations, it is important that attention is directed at the point of creation of ads, not just after they are published.

The new chief executive of Tasmanian whisky company Lark Distilling Co expects high-end drinkers to keep spending in tougher economic times in Australia, as he banks on an expansion into Asia to reverse a tumble into the red.

SoftBank-backed British semiconductor and chip manufacturer Arm will start investor meetings next week, ahead of what is slated to be the year’s biggest initial public offering.

Gulf Oil Lubricants is on a lookout for more acquisitions in India and globally within the charging EV ecosystem as it seeks to strengthen its presence in the electric mobility segment where it’s a new entrant. This is even as the company plans to continue to focus on its core lube business. The Hinduja Group company announced acquiring a controlling stake in Tirex Transmission for Rs 103 crore on Monday.

Gina Raimondo's visit to China is putting a spotlight on the future of TikTok in the United States, where criticism of the app and its ties to Beijing reached a fever pitch this year. Despite the intense pressure on the popular short-form video app, which is owned by Chinese technology company ByteDance, efforts to ban or regulate it in Washington have not borne fruit. And even with all that scrutiny, Raimondo is not planning to discuss TikTok while in China, a glaring omission that reflects the impasse at which it has left the Biden administration. The administration has been stymied by how to deal with TikTok even as intelligence officials have warned that it poses a national security threat.

Noumi, the manufacturer of MilkLab and other plant-based dairy products which formerly traded as Freedom Foods, posted a narrower annual net loss of $46.9 million as it advances a turnaround for the business having nearly went under two years ago.

Goldman Sachs on Monday said it has struck a deal to sell part of its wealth business to an independent wealth manager, part of a strategy refresh which is seeing the bank exit some businesses and focus its wealth offering on targeting the super rich. The Wall Street bank, which did not disclose the sale price, said the sale to Creative Planning LLC is expected to close in the fourth quarter and result in a gain. The latest sale is part of a shift in strategy after CEO David Solomon reorganized the firm into three units last year and scaled back ambitions for its consumer business, which lost $3 billion in the last three years. Goldman bought the registered investment adviser (RIA), formerly known as United Capital Financial Partners, for $750 million in 2019 when it managed about $25 billion in funds. Creative Planning has more than 2,100 employees across its affiliates and $245 billion in combined assets under management and advisory. The RIA business was relatively small in size compared with Goldman's core business that focuses on the super rich. Goldman's private wealth arm oversees $1 trillion in assets for ultra-high net worth clients, who have $60 million or more in investable assets. High net worth individuals — who would fall within the business Goldman is considering selling — typically have about $1 million to $10 million to invest Marc Nachmann, Goldman Sachs global head of Asset & Wealth Management, told Reuters the current strategy is to invest more on its core businesses such as ultra-high net worth and workplace growth strategy including the proceeds from the sale. «We think there's a lot of space for us to grow.

artificial intelligence (AI) usage gains prominence, countries will need to work on building their own capabilities in large language models and computing infrastructure to support sovereign AI capabilities, said IBM chairman and CEO Arvind Krishna, adding that the government could possibly consider investing in this area that will cost only «millions and not billions». “I am a firm believer that every country ought to have some sovereign capability on artificial intelligence, including large language models for AI,” said Krishna. The government needs to support setting up national AI computing centers and common data sets for specific use cases, he said. The 61-year-old Krishna, in India currently, was speaking during a media roundtable on Monday in the company's India headquarters in Gurgaon.

Staff at KPMG and Deloitte are most willing to lodge workplace complaints and least likely at Accenture, misconduct data disclosed by the nation’s five major consulting firms show. EY and PwC sit in the middle of the pack.

Former Pittsburgh Pirates investor and newspaper publisher G

Virgin Australia chief executive Jayne Hrdlicka said allowing more competition from Qatar Airways would slash overseas fares by up to 40 per cent.

Farmers Insurance says it will lay off 11% of its workforce — about 2,400 employees — as part of a corporate restructuring aimed at increasing its efficiency and long-term profitability

leadership position if she couldn’t be in Orrville full-time. Largely because of its acquisitions, Smucker has for years had some remote workers and corporate employees based outside of Orrville. But during the pandemic, and the dawn of widespread remote work, Massey saw an opportunity.

renewable energy capacity in the past few years, a shortage of solar modules continues to cast a cloud over the sectors’ growth prospects, said stakeholders at the Mint Sustainability Summit 2023. Speaking at a panel discussion on ‘The Future of Clean Energy in India: A 500GW Vision’, Mohit Bhargava, CEO, NTPC Green Energy noted that domestic solar module manufacturing capacity is now close to 20-25 GW, but the supply chain is still dependent on Chinese imports for products like cells and wafers. He added that given the concerns on continuing imports, the Centre has rolled out the second phase of the production linked incentive scheme for solar modules, which would support the entire value chain from cells to modules.

climate change. But the funding available to them is $46 billion. How does one fill this gap? In a panel discussion on financing the green transition at the Mint Sustainability Summit, Nawal Saini, MD, Brookfield Renewable Power & Transition Group, said there was a need to deepen the bond markets and make available long-term fixed-rate capital.