COST Financial News

By Dan McTeague

Bergen in Norway. Strictly speaking, the gleaming Northern Lights terminal is just the gateway to the actual dump, where carbon dioxide will be offloaded from ships and then pumped down into an aquifer 1.6 miles below the seabed, about 60 miles offshore, keeping it locked away. Getting to net zero mostly means stopping doing things that emit carbon. A supplement to this is capturing those emissions and storing them, like refuse in a landfill. In theory, carbon capture and storage, or CCS, offers the ultimate climate hedge for fossil fuel producers, albeit at a cost of perhaps $10 trillion through 2050.More likely, it will play a vital role in mopping up the most stubborn emissions, but will be outcompeted by faster-moving alternatives for energy transition. Moreover, the incentives required to make it work would present, in themselves, a profound risk to fossil fuel producers. Of the emissions that need to be eliminated to achieve net zero in 2050, Bloomberg NEF projects CCS accounting for 16% of them. The amount being captured annually by 2050, more than 8 gigatons, would be bigger than the total energy-related emissions of the Americas today.

EEPC India has suggested restoring the interest subvention to 3% for the specified 410 tariff lines besides raising the subvention rate to 5% for MSME manufacturers exporting under any tariff line. «Considering the rise in the repo rate from 4.4% to 6.5%, we have requested to restore the interest subvention rate to 3% for the specified 410 tariff lines. We also requested that for Micro, Small, and Medium Enterprises (MSME) manufacturers exporting under any tariff line, the interest subvention rate be increased to 5%. Merchant exporters have low-profit margins, and the cost of credit affects their viability significantly. Therefore, we have requested to extend the Interest Equalisation Scheme to merchant exporters with a 3% subvention rate,» EEPC India chairman Arun Kumar Garodia said. According to Trade Notice No 07/ 2024-25, the Interest Equalization Scheme has been extended for two months but only for MSMEs. It also says that the claims from non-MSME exporters will not be accepted beyond 30th June 2024.

hybrid cloud, which combines private cloud (on-premises data centre) with public cloud. Hybrid cloud helps in cost reduction, supports remote work and creates workplace efficiency. US-based IT firm Hewlett Packard Enterprise (HPE) has come up with various solutions around the hybrid cloud for Indian SMEs. Bhawna Agarwal, Country Head-Strategy & Growth, Hewlett Packard Enterprise, India, says that SMBs are increasingly prioritising high-performance cloud computing solutions that can handle intensive workloads efficiently and reliably. Secondly, there is a growing emphasis on the rapid deployment of cloud computing services. “SMBs seek solutions that can be quickly implemented and operationalised to adapt swiftly to market changes and business needs. Additionally, SMBs place a high value on security and data privacy in cloud solutions,” she says.

The disability tax credit is a non-refundable credit that a taxpayer — or their family — can claim annually on their return. It reduces the tax payable to offset the increased costs resulting from physical or mental impairment. The disability tax credit is also a gateway to other financial incentives, and many people who qualify do not realize it.

Vedanta Ltd will issue secured, rated, listed non-redeemable non-convertible debentures (NCDs) worth ₹1,000 crore later this week. The 15-month tenure NCDs will have a floating rate linked to MIBOR. Proceeds will be used for general corporate purposes, including debt repayment and capital expenditure. The NCDs will be raised on July 11 and pay 3.75%over one month overnight indexed swap (OIS) rate. As of March 2024, Vedanta's gross debt was ₹71,759 crore, with net debt at ₹56,338 crore. The company held cash and equivalents of ₹15,421 crore. FY24 finance costs rose to ₹9,465 crore from ₹6,225 crore, driven by increased borrowings and higher interest rates.

financial goals and investing to achieve them. However, many investors struggle with calculating the future value of their goals. Instead of employing a precise calculation, they often choose arbitrary large figures like Rs 50 lakh or Rs 1 crore, assuming these amounts will suffice. What seems like a big number today may not hold its value in the future due to inflation, making precise calculations using inflation vital in planning for financial goals. Many investors just pick a random number. Many investors pick up big numbers, usually Rs 50 lakh or Rs 1 crore which they think will suffice for their future. Inflation significantly reduces the purchasing power of money over time, so the amount that appears substantial now might not be enough in the coming years. The value of any investment does not remain the same always. It either decreases or increases due to interest rate, inflation/deflation which increases/ decreases the value of money. The impact of annual inflation erodes the purchasing power of money significantly with each passing year. Investors need to account for the effects of inflation on their future financial goals. To do this, they first need to calculate how much a particular goal costs today. For instance, if a child’s higher education costs Rs 5 lakh today, the investor needs to determine how much time is left until they need to pay for the education. If the child is expected to go to college in 15 years, they need to calculate how much that same education will cost in 15 years, taking inflation into account. This is known as calculating the future value of the goal.

A Maryland board led by Gov. Wes Moore has approved a $50.3 million emergency contract with a company that removed debris from the March collapse of the Francis Scott Key Bridge

President Joe Biden has proposed a new rule to address excessive heat in the workplace

Kotak MF first to lift curbs on investing in small-cap fund following elections, earnings growth Jain was chief investment officer at HDFC AMC from 2004 to 2022. He managed the HDFC Balanced Advantage Fund (earlier known as HDFC Prudence Fund), a hybrid equity fund, for 28 years (1994 to 2022).

The founder of Archegos Capital Management has been convicted of securities fraud in a scheme that prosecutors say cost global investment banks billions of dollars

income tax on the middle class — the most honest taxpaying group? The intention behind collecting income tax is noble as it helps in wealth redistribution and contributes to the growth of the economy. And, the Indian middle class is one of the most prominent groups that contribute to the nation's revenue through income tax. However, the process fails to live up to its intended goal when it starts taxing people with relatively lower income. Money loses its value with time due to inflation. So if tax slabs are not increased with time, it would mean people are paying income tax on lower real income. This has become an issue worth serious consideration today. According to budget 2014, an income tax rate of 20% became applicable on income above Rs 5 lakh and 30% on income above Rs 10 lakh. This has not changed in the last 10 years. If we take average inflation to be 6%, the real value of Rs 5 lakh and Rs 10 lakh of 2014 would now be Rs 2.8 lakh and Rs 5.6 lakh, respectively.

Pankaj Tibrewal, Founder & CIO, IKIGAI Asset Manager, says that we need to navigate the next 12 to 18 months with caution and that IKIGAI should be a risk manager instead of a fund manager as managing risk in the portfolio will be extremely important because the earnings growth has started to slow down. Last year, NSE 500 companies delivered 30% earnings growth. But in FY25, that earnings growth should come down to between 13% and 15% for the NSE 500 universe. What are you making of the market construct? For the last eight days, FIIs have been buyers and that is reflected in the way some of the banks and the IT names too have been performing. Pankaj Tibrewal: Our view is that in this raging bull market, the reliance on narratives and myths is increasing rather than focusing on fundamentals, valuations, and numbers.

TikTok star Taylor Price on why she started helping younger generations to manage their money and best tips for financial freedom.

intelligence capital of the world powered by accelerated computing and its skilled manpower, said Vishal Dhupar, managing director for South Asia at Nvidia. The global AI chip giant aims to help bring the required AI infrastructure to the country enabling it to build AI in a sovereign manner, which could even make India a net exporter of intelligence rather than an importer, Dhupar said.

Zomato’s ESOP costs are no longer a one-off after the approval of the new policy, domestic brokerage firm JM Financial reduced the company's target price to Rs 230 from an earlier Rs 250. The formulation of a new policy at Zomato suggests that ESOP costs should be treated as regular business expenses as they are likely to recur in the future. Hence, the domestic brokerage has adjusted its valuation methodology to capture the impact of ESOP costs better.

China is the world’s largest textile producer and consumer, throwing away 26 million tons of clothes each year, mostly made of unrecyclable synthetics

mutual fund to manage your money. All the money given by investors to the fund is pooled together and invested in various assets, which earn returns for you. However, there are various costs incurred by the fund in managing this large pool of money, and all these expenses are recovered from investors in the form of ‘expense ratio’. It’s expressed as a percentage of assets under management (AUM). The expenses typically comprise the fund managers’ fees, marketing and distribution costs, administration charges, audit fees, brokerage, etc. You don’t pay this fee to the mutual fund separately. Expense ratio is deducted daily from the net asset value (NAV) of the fund before it is published on the AMC website.

NEW DELHI : Luxembourg-based SES, which has a joint venture with Jio Platforms in India, has applied for a satellite-bandwidth-provider licence to set up a local arm, two senior executives with direct knowledge of the development told Mint. The European firm's entry is expected to bring costs down for domestic direct-to-home (DTH) TV players, who have to lease satellite bandwidth through the Indian Space Research Organisation (Isro). The license, being processed by the Indian National Space Promotion and Authorization Centre (In-Space), will allow the firm to offer satellite capacity directly to its DTH and very small aperture terminal (VSAT) satellite broadcasting clients, including Bharti Airtel Ltd and satellite bandwidth service provider Hughes Communications India.

Ahmedabad (Gujarat) [India], July 9: K&R Rail Engineering Ltd, a leading Railway infrastructure company offering services in laying of track, signalling, electrification and telecommunication in the Railway Industry is proud to announce that it has signed a Memorandum of Understanding (MOU) with UNECO Co. Ltd, a South Korea-based company engaged in the manufacture and sale of industrial machineries, to establish a Composite Sleeper Plant in India. With the estimated cost of Rs.

A South African restaurant and bar has served up a sandwich that's nearly 10 feet long in the latest offering from an establishment with a taste for the supersized