CEO Financial News

During a discussion in which Taiwan's Digital Minister Audrey Tang, Matters' co-founder and current CEO Zhang Jieping, and Ethereum's co-founder Vitalik Buterin participated, an unexpected finding was made.

Engineers India Ltd has signed a preliminary agreement with Australia’s Sunrise CSP group for developing energy projects in India and abroad. The agreement will “facilitate an exclusive partnership in concentrated solar thermal power" for oil and gas as well as other energy projects, the Australian Trade and Investment Commission said in a statement. “Together we aim to deliver the clean heat of the sun to industrial production at all scales and all temperatures – from heating and cooling a major cancer hospital as we are in Gujarat today, to making vital chemicals like hydrogen & ammonia, to national-scale power solutions delivering electricity on-demand,” Artur Zawadski, CEO of Sunrise CSP, said.Engineers India provides consultancy as well as engineering, procurement, and construction (EPC) services to the oil and gas industry as well as other segments of the energy sector. “Concentrated Solar Power (CSP) technology has wide applications and could also be integrated with the existing industrial facilities and process plants,” said Engineers India Ltd chairperson Vartika Shukla.

In a pioneering move, Lego is set to launch Braille bricks specially designed for visually impaired children, aiming to facilitate interactive learning and inclusion. Starting from September 1, the "Lego Braille Bricks — Play with Braille" set will be available in Italian, French, and English, followed by German and Spanish versions in early 2024.

Jio Financial Services will enter the insurance sector, said Mukesh Ambani at Reliance's 46th annual general meeting (AGM) on Monday. "JFS will enter the insurance segment to offer simple, yet smart, Life, General, and Health insurance products through a seamless digital interface, potentially partnering with global players. It will use predictive data analytics to co-create contextual products with partners and cater to customer requirements in a truly unique way," said the Reliance Chairman. JFS plans to democratise financial services for 1.42 billion Indians, giving them access to simple, affordable, innovative, and intuitive products and services, he said. Mukesh Ambani talked about the joint venture of Jio Financial Services with US-based BlackRock, the world’s largest asset manager. «BlackRock is the world’s largest asset management company, managing assets worth over USD 11 trillion with a stellar reputation and track record.

R Praggnanandhaa has made a name for himself. From the country's Prime Minister to renowned businessmen, the FIDE World Cup 2023 silver medallist has been receiving praise from well-known personalities for his exceptional run at the tournament in Baku, Azerbaijan. On Monday, billionaire business tycoon Anand Mahindra took to X (formerly known as Twitter) to announce that he will be giving an XUV4OO EV to the chess prodigy's parents Rameshbabu and Nagalakshmi.

Maggie Beer Holdings’ new chief executive says the gourmet food producer will be able to withstand lower consumer spending after posting a drop in sales and cutting the value of its gifts and hampers business.

Neeraj Chopra made India proud again after he became the first Indian to win a gold medal in the World Athletics Championships. He scripted history on Sunday with a best throw of 88.17m in the men's javelin final in Budapest. The 25-year-old dominated the competition and achieved his best throw of the day in his second attempt.

MBA, is considered to be a gateway for jobs across multiple business functions and in some cases, for the creation of innovative entrepreneurship ideas. While many colleges are offering MBA programmes today, questions are being asked about the kind of jobs that would be available after doing such a course, especially given that the funding winter has impacted startups and the broader macroeconomic conditions are looking dull. Part of the question stems from the curriculum. Does the MBA curriculum arm students with the right skills for today’s work conditions? There have been innovations in this course.

China lowers stamp duty on stock trades, tightens IPOs to woo investors Beijing's current move is aimed at giving a boost to market sentiment as the world's second-largest economy has been struggling in the wake of the Covid-19 pandemic. Earlier in August, China's central bank went for a smaller-than-expected cut in a key lending benchmark to boost economic recovery. However, the demand for a more robust policy response and hefty government spending is growing.

Income Tax Department has received information about certain transactions reported by you in Form 60/61 relating to F.Y. 2021-22. It is requested that if you are not in occupation of a PAN number, the same may be applied in Form 49A immediately or else, the PAN Number should be submitted to the Reporting Entity within 15 days from the campaign execution date. -Income Tax Department.” This is an SMS many taxpayers have received recently from the Income Tax department. The income tax department’s official Twitter handle confirmed the sending of the SMS by tweeting: “This is a genuine SMS/Email from the Income Tax Department. Recipients of this SMS/Email may pl note: In case you do not possess a PAN, you are requested to obtain PAN and report PAN to the Reporting Entity(RE).....” Read on to find out what is Form 60 and why the tax department has been sending this SMS to taxpayers.

leadership role, Brightcom Group's Chairman and Managing Director Suresh Reddy and CFO Naryana Raju have resigned from their post, said the company in its stock filing on Sunday. The decision was approved at the Board of Directors meeting of the company held on Sunday. Other than accepting the resignation, the board has also approved the search for an CEO and an CFO to ensure the smooth continuation of essential operations.

A better-than-expected final dividend has helped keepLiberty Financial’s share price relatively stable despite tougher lending conditions pushing after-tax profits nearly 20 per cent lower and an uncertain outlook.

Global technology and e-commerce giants are driving demand for direct air capture technology to remove carbon emissions, according to Sydney-based carbon removal company, AspiraDAC. but Australian firms are lagging behind,

Data Bill «right», applying «strong protection» for personal data while allowing cross-border data flow, said Brad Smith, Microsoft's vice chairman and president. In an interview to ET, Smith, the second-ranking executive (after chairman and CEO Satya Nadella), called artificial intelligence the greatest advancement for human thinking since the invention of the printing press. Edited excerpts.What are your preliminary thoughts about the data protection bill? I would affirm what I said a year ago.

There is a sliver of hope for taxpayers like Mehta. Archit Gupta, Founder and CEO of tax filing portal, ClearTax, suggests that she file a revised tax return and opt for the new tax regime. Under Section 139(5), a taxpayer can voluntarily revise the tax return filed by him. Revised returns for the current assessment year can be filed till 31 December 2023. The revision can be done even after the return has been processed by the tax department. Under the new tax regime for the financial year 2022-23, Mehta will not get the benefit of Rs.50,000 standard deduction or her contribution to the Provident Fund, but her tax would be lesser due to the lower tax rates. She can save about Rs.3,200 tax under the new regime. Incidentally, ClearTax users are alerted about the difference in the tax liability of the old and new tax regimes when they file their returns. “The taxpayer can decide at that point which tax regime he wants to opt for,” says Gupta of ClearTax.File a revised return if… Tax

In the past 12 months, big-ticket floating rate loan borrowers have had a rough ride. The continuous uptick in interest rates has triggered a sharp reset of rates in their floating rate loans. Taking cognisance of the numerous complaints received on the changes imposed by lenders without proper communication or consent of borrowers, the RBI has introduced a new framework for resetting floating rate loans.

Queensland coal export terminal Dalrymple Bay Infrastructure says chief executive Anthony Timbrell will step down as higher fees from handling coal exports helped lift interim net profit five-fold to $34 million.

Judo says the big banks are still dragging their heels when customers want to switch business lenders amid growing regulatory scrutiny of potential anticompetitive conduct.

The banks have urged the Albanese government to assess how every existing law might capture the use of artificial intelligence before drafting new ones, to protect the financial industry’s AI rollout from unintended regulatory delays.

Bob Iger led a 45-minute town hall session in Burbank, California. During the exchange, Iger took on questions from anxious employees on thorny issues like the recruitment ban, the outlook for conventional television enterprises, the possible sale of the company, and the company’s stance on LGBTQ concerns that had plagued the term of his predecessor Bob Chapek. Regarding the latter, Iger emphasised that a fundamental principle of Disney's storytelling was embracing inclusion, acceptance and tolerance, and it was crucial for the company to uphold this. But his big message to the employees in the end was: “The status quo is gone.” As he has set about reshaping Disney, the path has been arduous for Iger. The CEO has been dealing with a spectrum of challenges, from tackling streaming losses and dipping linear subscriptions to navigating advertising headwinds. Concurrently, he has had to manage an internal reorganisation that empowers creative divisions for content authority and distribution, while addressing vital cultural aspects like LGBT inclusion. Then there’s the key task of identifying a successor. The CEO has acknowledged that the task of turning around the Disney business has proven more challenging than he anticipated. Over the past year, Disney's stock price has fallen by 30%. On August 25, the stock closed at $83.27, mirroring levels last seen in May 2014. In the June quarter, revenue climbed 4% to $22.33 billion, yet missed forecasts. A $2.7-billion restructuring expense led to a $460-million loss, compared with last year's $1.4 billion profit. Iger's urgent focus is to halt the decline of the TV market, curb streaming losses, and arrest the stock price slide.

Embraer SA, the world’s third largest manufacturer of commercial jets, is betting big on India as a key growth market and potential manufacturing hub. In an interview with ET’s Arindam Majumder, chief executive Francisco Gomes Neto, explains the Brazilian aerospace company’s growth plans which include finding a local joint venture partner to set up a manufacturing unit in India. Edited excerpts:India now has one of the largest aircraft order books in the world. But it has been a challenge to find customers here for Embraer. What are the sticking points? There are ongoing dialogues and conversations that are happening with Indian airlines.