COST Financial News

Walmart Vriddhi, the supplier development program of the retail giant, recently announced that it has exceeded its target of training 50,000 micro, small and medium enterprises (MSMEs) across India by December 2024. According to a statement, the program has digitally empowered 58,000 MSMEs providing them cost access to business advice, digital training and personalised mentorship opportunities. The Walmart Vriddhi program was launched in 2019 with Swasti as the program partner. The program was aimed to equip MSMEs with the know-how and tools they need to succeed in supply chains by combining Walmart’s supplier development experience and Flipkart’s platform expertise. Currently, over 14,500 MSMEs are onboarded onto Flipkart.

Abheek Barua, Chief Economist, HDFC Bank, says there is a laundry list of items that need to be addressed before we get on, and climb back onto that 8% to 9% sustainable growth path. We could have a one-off 8% or an 8.5% growth, but that is not what the steady state growth would be. I think the steady state would be closer to 7% to 7.5% in a good year. There has been a very interesting comment made by the RBI Governor recently that India is at the cusp of a structural shift as far as the economy goes and we could be moving towards a sustainable 8% kind of GDP growth. Do you think that 8% growth is sustainable? And is it realistic? And what would it take to achieve that kind of sustainable growth?

According to climate scientists, 2023 was the hottest year ever, and the next 10 years may be hotter if practical steps are not put in place. To support environmental efforts, Chimpzee has introduced a way to make people protect the planet while they earn.

An averted strike at WestJet and fresh data showing punctual performances from major airports and airlines in Canada bode well for travellers gearing up for summer getaways, analysts say.

Banks across the country have been put on alert amid tip-offs received by the regulator on possible cyberattacks. They have been told to proactively monitor their systems for threat detection on a 24/7 basis. «In the light of credible threat intelligence received regarding potential cyberattacks, regulated entities are advised to put in place enhanced state of surveillance and resilience capabilities to guard against these threats,» said an advisory issued by the Reserve Bank of India to financial institutions on June 24.

Bill Ackman’s Pershing Square set the initial public offering price of its US closed-end vehicle at $50 per share, as the billionaire’s firm moves ahead with what could be the largest ever closed-end fund in the US. 

Canada’s newest oil pipeline has turbo-charged exports of the country’s heavy crude to Asia and a diversion through California is making for a longer but potentially cheaper journey.

By Julie Cazzin with Allan Norman

The bond bulls and Bank of Canada policy doves were on the receiving end of a splash of water this past week. The consumer price index doubled consensus expectations in May, coming in at 0.6 per cent (not seasonally adjusted). That, in turn, pushed the year-over-year trend back up to 2.9 per cent from 2.7 per cent in April (consensus here was looking for further deceleration to 2.6 per cent).

Motilal Oswal picked Maruti Suzuki and Ashok Leyland as their top picks from among the auto OEMs while Craftsman Automation, Happy Forgings and Samvardhana Motherson International from the auto ancillary segment, stating that one will have to make selective micro strategies to outperform in the sector. “It is now an established fact that the majority of easy gains in Auto OEM stocks are now behind us, as we have witnessed significant volume growth across segments over the last two years, and input costs also appear to have bottomed out,” said a report by Motilal Oswal.

Budget 2024-25 in the third week of July, India's real estate sector hopes for a series of reforms and incentives that can drive growth and address longstanding challenges. Expectations range from increased rebates on home loan interest rates, GST rate reductions, single-window clearance systems, reduced property prices, and promoting off-centre locations.Speaking to LiveMint, Pradeep Aggarwal, Founder & Chairman of Signature Global (India) Ltd.

Advyzon has unveiled its third annual asset allocation study shedding light on new trends in financial advisors’ investment strategies.

South Africa, also known as the Proteas very rarely qualify for the finals of ICC tournaments and have lost on countless occasions rather than securing victory because as the legend goes, the choke at the last moments of the game. Meanwhile, India is still reeling from the ICC World Cup final loss against Australia, a defeat they still have not been able to digest. Now, both these teams are going to participate in the finals of this coveted ICC T20 World Cup Final and would aim to win it for their respective nations. Watch T20 World Cup Live in USA on 'Willow By Cricbuzz'

The Maharashtra government on Friday announced a reduction in the taxes on diesel and petrol prices in the municipal areas of Brihanmumbai, Thane and Navi Mumbai.

Reliance Jio has hiked the prices of its prepaid and postpaid plans by 12-25 percent. The new prices will come into effect from July 3, 2024. Alongside the tariff revision, Jio has also increased the entry-barrier to use free unlimited 5G data under its “Jio Welcome Offer.”  

Credit bureaus assess credit scores by examining how you manage your credit card and loan payments, as reported by lenders and credit card companies. In the absence of adequate information regarding your credit history, credit bureaus are unable to generate a credit score for you.

The Indian real estate industry has achieved remarkable growth figures in recent quarters. As the Union Budget 2024 approaches, there is optimism within the sector for significant reforms to be announced. Through the allocation of resources and the implementation of favorable policies, the government has the power to accelerate the growth of this industry, leading to job creation and economic stimulation.

The hospitality industry encompasses establishments that serve individuals seeking respite, recreation, business, social activities or a celebration. It presents everything from opulent 5-star hotels to small boutique properties, all offering vast opportunities for development and creativity.

The Indian real estate sector has shown significant growth in recent years. While 2023 was the year with the highest number of new project announcements in the last decade, the first quarter of 2024 surpassed almost all records of the previous year. In 2024, the residential real estate market is expecting a strong influx of new launches, with an estimated range of 280,000-290,000 units, as per a report. This has set a good path for 2024, which shows that the sector is not only rising but also promising further growth in the coming years.

IFFCO-Tokio General Insurance Company, a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Japan’s Tokio Marine Group, has launched a new policy for Directors and Key Management Personnel (KMPs) which can be bought on individual basis. It covers defense costs, litigation expenses and compensation that Directors & KMPs may have to face because of allegations levied against them while performing their directorial, managerial & supervisory role.

Public sector bank Punjab National Bank has enhanced the insurance coverage and other benefits for all serving personnel of the Indian Army under its flagship scheme – “PNB Rakshak Plus”.