COST Financial News

Consider a country whose economy has suffered due to years of lower productivity growth than its peers, high inequality and low private investment. To compound its problems, it is not part of dynamic free-trade zones, which would lower its tariffs, push its industry to be more competitive and reduce friction for goods crossing borders. This is the huge to-do-list that Keir Starmer faces as the new Prime Minister of UK, but it is also more or less the challenge that New Delhi confronts.

₹7.09 trillion in FY24 from ₹2.58 trillion in FY20 and ₹1.41 trillion in FY15. Kapoor expects this amount to grow significantly as PLI schemes for auto, semiconductors, medical devices, drones, white goods, and computer hardware gain traction.

Cost-Effectiveness: Lower operational costs make Indian companies an affordable option without compromising quality.Indian web development companies excel in creating custom websites that are not only visually appealing but also highly functional. These companies provide comprehensive web design and development services, which include:E-commerce has become a vital part of the online business ecosystem, and Indian web development companies offer comprehensive e-commerce solutions to help businesses succeed in the digital marketplace.

Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve

SYDNEY—Australian businesses are dipping into savings to cover day-to-day running costs and repay debts amid higher-for-longer rates, but arrears remain low for now, the head of business banking at the country’s largest lender said. Like households, businesses built up cash buffers during the pandemic, and strong post-Covid demand supported business profitability. Recent Australian regulator data cited by UBS showed overall bank deposits fell in May, with an uptick in household savings being more than offset by contracting business and government deposits.

Rishi Sunak's campaign to remain Britain's prime minister showed a lack of political touch. The Conservative Party's problems were grave before Friday's resounding election defeat but missteps by Britain's richest prime minister contributed to its defeat. Predecessors such as Tony Blair and Boris Johnson were more politically astute and able to connect with voters. As for Sunak, he didn't have to call the election until Jan. 2025. He defied political advice by doing so in May — with Conservative support dwindling steadily amid an economic slump, ethics scandals and a revolving door of leaders over the last two years — and announced the July 4 date in the pouring rain.

Kansas City Chiefs, Travis Kelce, disclosed some staggering Super Bowl expenditures in February. In the latest episode of «Receiver,» a Netflix series that tracks NFL players during the season, Kelce talked about the high price of bringing his friends and family to the game, as per the reports of MSN.

Puerto Ricans have been hit with a 4.6% increase in electricity rates increase through September

Vodafone Idea (Vi) out of the proceeds of a likely sale of its balance 3.1% holding in Indus Towers, said analysts who added that this may be used to clear a portion of the Indian telco's dues to the tower company. Vi may also make more substantial payments to Indus towards cutting its dues after the telco raises debt of ₹23,000-25,000 crore through term loans as planned, they added. After the recent sale of its 18% stake in Indus, UK's Vodafone holds 3.1% of the tower company and is said to be in talks with Bharti Airtel to sell these shares, people familiar said. Earlier talks between the two parties got stuck over valuation differences but the latest discussions may yield results, said the people cited above.

The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in testimony to Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation that suggests it's moving closer to cut...

BigBloc Construction, which has delivered multibagger returns to investors over the last few years, will meet on July 19 to consider and approve the bonus issue of shares. The company’s Board will also consider a proposal to increase the authorised share capital. The company’s current share capital stands at Rs 14.14 crore divided into 7.07 crore equity shares of Rs 2 face value.

The Bahnsen Group founder and CIO David Bahnsen surveys the real estate market as younger homebuyers struggle with the ongoing housing crisis. 

Mexico's president says his successor is planning to build passenger train lines running from the capital to cities on the U.S. border

New Zealand's housing minister says the country will drastically ease restrictions on land use in a bid to “flood the market” with land for homes and override the powers of local councils to curb development

government spending after the polls has injected fresh liquidity into the banking system, bringing down overnight borrowing rates, Treasury Bill yields and, in turn, short-term financing costs for Indian companies, even as the central bank seems to be in no great hurry to lower policy rates. After being at or above the Reserve Bank of India’s repo rate of 6.50% in May and June, the overnight weighted average call rate (WACR) has averaged 6.39% so far in July, more than 10 basis points lower than the benchmark policy rate, an analysis of daily central bank data showed. One basis point is a hundredth of a percentage point. The key driver of the evident shift in banking system liquidity to a surplus from a protracted deficit has been a flow of government expenditure — of about Rs 1 lakh crore — over the past few days. “Government cash surplus (Centre and states), which had peaked at Rs 5.1 lakh crore as of May 24 after the RBI dividend, has reduced to Rs 2.1 lakh crore as of July 11, with a pick-up in the pace of government expenditure,” said Gaura Sengupta, chief economist, IDFC First Bank.

Ask the average renter and they can tell you: Canadian rents have soared in recent years.

Bajaj Auto's CNG-run Freedom 125, Roads Minister Nitin Gadkari said that the variant would become the preferred 2-wheeler choice abroad given the cost-savings it offers. The CNG bike will start at Rs 95,000 and will go up to Rs 1.10 lakh. The CNG motorcycle will offer a range of 330 kilometre. It will have a 2 kilogram CNG tank along with a 2 litre petrol tank. The CNG tank is housed under the seat.

Wells Fargo on Friday reported a 9% decline in net interest income, even though its second-quarter earnings and revenue exceeded Wall Street expectations.

The Government of India has decided not to intervene or prevent Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi) from raising mobile tariffs, according to a report. Despite the price hike, mobile tariffs in India continue to remain among the lowest globally, prompting authorities to urge telcos to prioritise improving service quality, according to officials. They emphasised that the situation is “not critical.” “There is enough competition in the telecom sector, and the situation is not critical. Consumers may feel some pinch of the price rise, but the hike has happened after three years,” an anonymous government official was quoted by The Economic Times as saying.

The average rate on a 30-year mortgage rose this week, pushing up borrowing costs on a home loan for the first time since late May

Bengaluru/Mumbai: In the run-up to the Union Budget 2024, Indian fintech firms are seeking regulatory clarity, hassle-free licensing procedures, tax considerations, and provisions for financial inclusion to facilitate easier access to credit for small and medium enterprises (SMEs), in their wishlist for the finance ministry. As the fintech industry looks to deepen their presence, they seek a clearer regulatory framework that establishes legal recognition, licensing procedures and supervision which will help level the field with traditional lenders.