Compilation Financial News

New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information. Shein is still working on its application to list in the US as its preferred location, the people said.

Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information.

voter list for the upcoming Lok Sabha elections is in its concluding stages. As of the first week of February, the compiled data indicates a total of 96.8 crore electors, as reported by Anubhuti Vishnoi. Notably, within this substantial voter base, 21.5 crore individuals fall under the age of 29. The comprehensive voter list is a crucial component in ensuring the democratic process, providing a foundation for the upcoming elections in India. OLDEST VOTERS

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Paytm owner One97 Communications after the Reserve Bank's action on its payments bank business, is yet to have a deeper engagement with the company to identify any issue, head of the panel and former chairman of Sebi M Damodaran said on Sunday. «We are an external advisor. At this point they (Paytm) are dealing with RBI,» Damodaran said in response to a question on the impact on Paytm with regard to RBI's January 31 order on Paytm Payments Banks Limited (PPBL). As per the January 31 order, the RBI asked PPBL to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29. Later, the central bank extended the deadline till March 15.

Nikkei 225 Stock Average past a record that stood for more than three decades looks set for further advances as foreigners rush back in. That’s the view of investors and strategists, who are also watching for a potential broadening of equities gains that may take the wider Topix index to an all-time high this year. Fund flow data indicate there’s scope for trillions of yen to return to Japan’s stock market based on figures compiled by Bloomberg.

HONG KONG/LONDON (Reuters) — Standard Chartered (OTC:SCBFF) PLC on Friday reported 2023 pre-tax profit rose 18%, in line with forecasts, and rewarded shareholders with a $1 billion share buyback.

NEW DELHI : The Indian economy, which expanded at a four-month high in January, continued to strengthen in February, seeing accelerations in both manufacturing and services sectors during the month. While services sector output climbed to a seven-month high in February, manufacturing sector output reached a five-month high, firming India’s position as one of the fastest-growing major economies.

By Anant Chandak

The Central Bank of the Republic of Türkiye (CBRT) has completed the phase 1 of its digital Turkish lira. It is now planning to move on to advanced phases to carry out “more widespread pilot tests.”

By Selena Li and Lawrence White

While minority investors are entering the retail investing market at a faster pace than whites, they’re also behaving more like younger investors when it comes to investing.

Creditors’ recovery from defaulters under the Insolvency and Bankruptcy Code (IBC) dropped to almost 26% of their admitted claims in the December quarter from 33% in the previous three months, showed the latest data compiled by the insolvency regulator. The realisation in the December quarter—Rs 4,281 crore from 79 firms—seems to have been hit by long delays in resolution. About two dozen of these rescued firms saw the resolution processes stretching beyond four years, well beyond the stipulated time frame of 270 days, suggesting erosion of the stressed asset value. The recovery, however, was 74.7% of the fair value of the stressed companies when they were admitted for resolution and 128.6% of the liquidation value of these companies, according to the Insolvency and Bankruptcy Board of India data.

Houthi attacks on merchant shipping continue to disrupt international trade, driving more cargoes to Asia. Flows to the European Union and the UK plunged as higher freight costs stoked by the ongoing turmoil in the Red Sea, as well as unplanned refinery maintenance in Asia, made trade economics better for sending cargoes east rather than west.

Russia’s Sokol crude — meant for delivery to India — are sitting on tankers idling off the coasts of Malaysia and South Korea. They show little sign of moving. Twelve tankers are anchored, holding the key Russian crude grade. Most haven’t moved far for more than a month, vessel tracking data compiled by Bloomberg show. The build-up started when ships carrying the crude to ports around the Indian coast came to a halt late last year and then turned back towards the South China Sea as December drew to a close. Since then, the stranded shipments have been added to at a rate of about two new cargoes a week.

Also Read: Nifty 50 touches new all-time high, extends gain for 5th day in a row However, amidst this bullish trend, analysts have raised questions regarding the continuity of the PSU stock rally. This skepticism arises from the mixed performance exhibited by PSU companies in the third quarter (Q3). Companies in the BSE PSU Index beat analysts’ expectations by a mere 1% in the three months end December, the slowest pace in six quarters, according to data compiled by Bloomberg.

Hyderabad region has witnessed a 1 per cent annual fall in registrations of residential properties in January to 5,411 units, according to Knight Frank. As many as 5,454 housing units were registered in January 2023 across the Hyderabad residential market, which includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. The data covers transactions of both primary (first sale) and secondary (resale) markets. As per the data compiled by real estate consultant Knight Frank India, the total value of properties registered during January stood at Rs 3,279 crore, which is 24 per cent higher year-on-year, indicating a movement towards sale of higher value homes.

fintech sector, the Reserve Bank of India has put usage of cards for B2B payments on hold until further notice. ET wrote on February 14, that card schemes like Visa and Mastercard along with banks have been asked to halt vendor, supplier and other such payments made via commercial credit cards. These transactions are facilitated by fintech startups like EnKash, Paymate and others who have stopped it as well.

By Tim Hepher

Maharashtra, Karnataka, Gujarat, West Bengal and New Delhi — witnessed an average growth of around 27-30% in AAUM (average assets under management) in January 2024 on a year-on-year basis, according to a report by ICRA Analytics. In terms of contribution, these 4 states and Union Territory accounted for nearly 68.46% of the total AAUM of Rs 52.89 lakh crore in January 2024, marginally down from a contribution of 69.43% in January 2023, stated the report. The average asset under management of Maharashtra stood at Rs 21.69 lakh crore in January witnessing year-on-year growth of 27% from Rs 17.13 lakh crore in January 2023.

In fact, the incorporation in the first ten months of FY24 beats the full-year numbers for any of the previous financial years, senior government officials said.