CEO Financial News

Wireless and fixed-network equipment maker Nokia has reported a fall in second quarter profit as clients especially in North America postponed investments due to a slowdown in economic growth and rising financing costs

NEW DELHI : Days after Russia pulled out of the Black Sea grain deal, risking further global food inflation, the government on Thursday banned the export of non-basmati white rice in a bid to check rising prices. Mint on 18 July reported large companies, traders and exporters are rushing to secure letters of credit (LCs) for future shipments, fearing that rising prices may trigger export curbs on some varieties of non-basmati rice.

Speaking to ET, Murali Ramakrishnan, MD & CEO of the Bank said that the bank managed to improve its net interest margin. “ Net interest margin for the quarter increased to 3.34 percent during the quarter from 2.74 percent in the same period a year ago” while the cost of funds rose from 4.5 percent in June’22 quarter to 4.85 percent in the June 23 quarter, the corresponding yield on advances rose at a faster pace from 8.05 percent to 9.17 percent, he said.

Here's how analysts read the market pulse: “Unlocking of value by heavy weights (like RIL & ITC) is apprising the main indices. The anticipation of a good Q1 results from banks is providing an extra boost to drive to new highs. Mixed cues from global peers is not disturbing the mood of the domestic market as FIIs’ inflows stay put to the prospects of the Indian economy,” said Vinod Nair, Head of Research at Geojit Financial Services.

Singapore-India Hackathon, jointly organised by India's Ministry of Education's All India Council for Technical Education (AICTE) and Nanyang Technological University, Singapore (NTU Singapore). In a message from PM Modi, he said, “The mantra of the G20 Presidency, ‘One Earth, One Family, One Future’, is Vasudhaiva Kutumbakam. The Singapore-India Hackathon is an initiative that encapsulates this noble thought." India’s Minister for Education, Skills Development and Entrepreneurship, Mr Dharmendra Pradhan, and Singapore’s Deputy Prime Minister, Mr Lawrence Wong presented the prizes to winning teams of the student and start-up categories. Minister Pradhan highlighted at the awards ceremony: “Singapore is a knowledge-based economy.

Nikhil Rathi (pictured) is the CEO of the Financial Conduct Authority

guidance for FY24 to 1-3.5 per cent from 4-7 per cent amid an increasingly challenging demand environment, while operating margin or earnings before interests and taxes (EBIT) guidance was left unchanged at 20 per cent to 22 per cent. In a post-earnings press conference today, Infosys MD and CEO Sahil Parekh said, ‘’See some clients stopping or slowing down transformative programs.

AI tech support startup Saarthi.ai has fired some employees buckling under «investor pressure» to become profitable, and has allegedly withheld salaries of several employees since March 2023. While an employee took to a social media platform to claim that withholding of salaries has affected a substantial chunk of staff, the numbers could not be independently verified. Responding to queries, founder and CEO Vishwa Nath Jha said the company has «let go» of employees in batches owing to «investor pressure» to become profitable, but declined to divulge the number of employees affected by the move.

Sequoia Financial Group is expanding its reach in Ohio with the acquisition of a Cleveland wealth management firm.

Kraken’s London-based subsidiary Crypto Facilities has appointed former hedge fund manager Mark Jennings as its chief executive officer.

₹59.45 billion in the three months to June 30, missing estimates as clients cut back spending in a cloudy economic environment. The company however saw its large deal signings rise to $2.3 billion from $1.7 billion year ago.

WhatsApp beta update initially introduced a new integration, which is now available to all users. This integration offers support for various essential features, allowing users to respond quickly to messages without using their smartphones. However, there has been no official confirmation from the messaging platform, owned by Meta, about the potential release of WhatsApp for watchOS, which is Apple's operating system for its smartwatches.

The price of XRP has risen by as much as 8% in the past 24 hours, with the altcoin's move to $0.811954 making it the fourt-biggest cryptocurrency in the market in terms of cap, ahead of BNB.

₹5,945 crore. The company had reported a profit of ₹5,360 crore in the year-ago period. Sequentially, the consolidated net profit was down 2.9%.

₹5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. “We had a solid Q1 with a growth of 4.2% and large deals of $2.3 billion which helps us to set a strong foundation for future growth.

In an interaction with Sanjeev Sinha, Mr Ashwinder R Singh, CEO of Residential at Bhartiya Urban in Bengaluru and a bestselling author, shares his views on the future prospects of India’s real estate sector and talks about his latest book. Excerpts:

Income Tax Return Due Date Extension AY 2023-24 News: More than 3 crore taxpayers have filed their returns till July 19. According to the Income Tax Department, the milestone of 3 crore ITRs has been reached seven days early this year, compared to the preceding year (AY 2022-23).

Eve Air Mobility and Embraer have joined forces to announce an exciting milestone in the field of electric vertical take-off and landing aircraft (eVTOL). They revealed that the first eVTOL production facility will be established in Taubaté, São Paulo, Brazil, pending final authorities’ approval. This strategic location, situated within Embraer’s existing unit, will undergo expansion to accommodate the new manufacturing plant.

ICICI Lombard General Insurance has ‘rebalanced’ its motor insurance portfolio after the government did not increase annual motor third party premiums for any of the classes of vehicles for the current fiscal.

Insurance plays a crucial role in securing the financial future of you and your loved ones. However, while taking a life cover, it becomes important to make sure that you know the difference between life insurance and term insurance so that you can get full advantages of the product you are purchasing.

Bajaj Finserv Asset Management has launched Bajaj Finserv Flexi Cap Fund, its first equity scheme. It is an open-ended equity scheme, which aims to provide long-term capital appreciation by investing in equity and equity-related instruments across market capitalization, based on a ‘MEGATRENDS’ strategy, the AMC said in a statement. Following are details of the Flexi Cap Fund shared by Bajaj Finserve AMC.