Compilation Financial News

India witnessed the driest August in more than a century as the country received 36% less rainfall than normal in 2023, according to data compiled by the India Meteorological Department (IMD) on Thursday. The country has received 10% lower rainfall than normal from June 1 to August 31, the IMD data showed. The monsoon, vital for the $ 3 trillion economy, delivers nearly 70% of the rain India needs to water farms and refill reservoirs and aquifers.

It is more than two years since high inflation returned to the rich world, and hopes that it will quietly fade are themselves fading. True, prices are rising more slowly than in 2022, when the pace hit 9.1% in America, 10.6% in the euro area and 10.4% globally. But the view that this was just a passing lurch looks ever less plausible.

Japan’s Prime Minister Fumio Kishida has sampled seafood and talked to workers at Tokyo’s Toyosu fish market on a visit to assess the impact of China’s ban on Japanese seafood in reaction to the release of wastewater from the Fukushima Daiichi plant

Also Read:‘Joe Biden will lead US to World War III,’ Donald Trump calls him 'mental catastrophe' This correction results in a decrease ranging from $812 million to $2.2 billion annually, depending on the specific year. Notably, the largest discrepancy of $2.2 billion occurred in the year 2014, according to the state's findings.

shares of at least 10 companies could find their way into the open market in September as the deadline for investors to compulsorily hold these shares bought through pre-Initial Public Offer (IPO) placements ends. Computer Age Management (CAMS), Concord Biotech, SBFC Finance, Happiest Minds, Route Mobile, and Chemcon Speciality, are among the companies whose shares could see sellers during the month. Ending of the lock-in period does not necessarily mean investors who received shares in the pre-IPO sale will offload their entire holdings.

The sector will tap into a revenue pool of around $70 billion, out of the overall financial services revenue pool of $620 billion by FY2030, according to The Bottomline: Elevation Fintech Report 2023. With over 9,000 fintech startups, India now has the world’s third largest fintech ecosystem after the US and UK, it added. The report, published by Elevation Capital and consultancy major McKinsey India on Wednesday, was compiled after interviews with over 20 industry leaders and a survey of more than 70 fintech founders and industry experts. Elevation Capital, earlier known as Saif Partners, has invested in startups like payment major Paytm, insurtech unicorn Acko, lending startup Axio (previously Capital Float), neobank Fampay, buy now pay later player Uni and others. Around $70 billion to $80 billion each have been pumped into retail lending and digital payments. SME lending as a sector has attracted around $55 billion while wealth management has brought in $40 billion to $45 billion, the report said. Between 2018 and 2022, equity infusion has gone up to $6 billion from around $2 billion, the report found.

MONTREAL — National Bank of Canada reported its third-quarter profit edged higher compared with a year ago even as the money it set aside for bad loans in the quarter also rose.

The $17.4 billion Grayscale Bitcoin Trust rallied the most since July 2021 after a US court ruling potentially paved the way for the vehicle to convert into an exchange-traded fund.

Fixed deposits have long been a popular investment choice for risk-averse investors. A variation of this traditional financial instrument is known as special fixed deposits. These deposits offer unique features and potential benefits.

Bitcoin, the world's largest cryptocurrency, experienced a drop below $26,000 in the past day, but quickly recovered above, settling around $26,070. 

Debate over a caste-based survey in Bihar continued this week with the BJP-led NDA taking potshots at the Nitish Kumar government. The Centre informed the Supreme Court on Monday that it was the only entity that could conduct a census. Meanwhile the Chief Minister and his deputy have continued to stress the difference between a census and a survey.

We have compiled a list of the top water heaters from the Lifelong brand, which can be a perfect match for your home's hot water requirements. You will find detailed information about these water heaters, enabling you to make an informed decision. Additionally, all of these products are readily available on Amazon, allowing you to have them delivered to your doorstep within days.

By Amina Niasse

TORONTO — Scotiabank reported its third-quarter profit fell compared with a year ago as its provision for credit losses nearly doubled.

That being said, it can get overwhelming to choose the perfect tablet for yourself, given the variety of options available in the market. We have compiled a list of our picks for the best 8-inch tablets in India. Read on to choose your favourite.

TORONTO — In May, Canadian banks offered support to those affected by an early wave of wildfires in Alberta. In June, they extended the offer to those hit in Nova Scotia, and some expanded it further as fires also raged in Quebec and Ontario.

Hedge funds’ bullish bets in emerging-market equity futures have risen to the highest since the gauge’s pandemic low three years ago, signaling budding optimism for the asset class.

experimental. But some of them did the job. There were explosions inside the base and several dead, with wounded soldiers seen streaming into the local hospital, according to local sources.

It's that time of the year when you celebrate your strong bond with your siblings and shower them with a lot of love. If you are one of those who still haven't managed to pick a gift for your brother or sister, here's your chance. We've compiled a list of things you can get your partner in crime on Raksha Bandhan.

CBDT) launched a revamped national website of the Income Tax Department on August 26, 2023. This new website can be accessed at incometaxindia.gov.in. The revamped website has a user-friendly interface and several new features. In a press release on August 26, 2023, the CBDT said that the «revamped website has been aesthetically redesigned with a mobile responsive layout.» The website also has a ‘Mega Menu’ for content, with new features, and functionalities,” CBDT added. «The new functionalities, allow users to compare different Acts, Sections, Rules, and Tax treaties,» said CBDT. «All relevant content on the site is now tagged with income tax sections for easy navigation. Further, dynamic due date alert functionality provides reverse countdowns, tooltips, and links to relevant portals to help taxpayers comply easily,» it added.

Indian stock market bourses about the developments post-SEBI order, ace investor Shankar Sharma has come forward ahead of the board meeting scheduled on 27th August 2023 and talked about the investment wisdom while indulging in 4 AM investment. In a long tweet, Shankar Sharma said that he has already done and compiled capital market regulators data requirements, submitting all investment remittances to the company. Explaining pros and cons in 4 AM investing, market magnate said that problems are known and priced in, while the upsides aren't.