COST Financial News

Red Sea crisis has led to a sustained disruption in trade routes. This delays timely delivery of goods due to attacks by Houthi rebels in Yemen on cargo ships plying waters connecting Asia with Europe and the United States (US). As a result, traffic is being forced away from the Suez Canal and redirected around the tip of Africa, the market intelligence and analytics arm of CRISIL said in a research note. These developments hold the potential to significantly impact players within the capital goods and fertiliser sectors. Commenting on the Capital goods sector, CRISIL said, “The ripple effect of such disruptions extends to various facets of the industry, potentially leading to an undesirable inventory build-up. This accumulation can, in turn, exert pressure on the operational efficiency of engineering, procurement and construction companies.”

World Bank warned that high borrowing costs have «changed dramatically» the need for developing nations to boost sluggish economic growth. The multilateral lender's latest warning comes as international bond sales from emerging market governments hit an all-time record of $47 billion in January, led by less risky emerging economies such as Saudi Arabia, Mexico and Romania.

For years U.S. drivers have been getting a gift at the expense of their northern neighbor—artificially cheap oil. That could change in the coming months when a major pipeline expansion will allow Canadian oil more access to global markets.

₹210 crore in a Series D & D1 funding round led by Edelweiss Discovery Fund Series – I. Existing investors, including Chiratae Growth Fund and Magnetic, also participated in the round. The latest round of funding will help the company strengthen its balance sheet and in business expansion, said Rentomojo's chief executive officer Geetansh Bamania.

₹1.64 trillion for fertilizer subsidy. India already has entered into long-term agreements with Morocco, Senegal, Israel, Oman, Canada, Saudi Arabia and Jordan in the past two years as part of this playbook. Though India is moving toward gaining self-sufficiency in urea, it still depends on imports to meet its rock phosphate demand.

financial goals. It’s crucial to synchronize your chosen strategy with your risk tolerance and return objectives, carefully assessing whether an active or passive approach better suits your investment profile, says Atul Garg, Founder, FinEzzy.

Trent and Westlife Foodworld are the top picks of Axis Securities in the retail space post the December quarter (Q3FY24) results. Retail companies have reported mixed performance, with premium retailers sustaining their growth momentum. However, value retailers continued to face pressure, noted the brokerage.

moment in the sun. Rock-bottom interest rates lowered the cost of clean power, which is expensive to deploy but runs on sun and wind that come free of charge. The price of solar panels and wind turbines fell as technologies matured and manufacturers gained scale.

Modi will on February 26 lay the foundation stone of 550 Amrit Bharat stations to improve facilities at railway stations by developing rooftop plazas and city centres at a cost of Rs 40,000 crore. The prime minister will also lay the foundation stone of nearly 1,500 road overbridges and underbridges across different states during a function that will be conducted virtually at over 2,000 railway stations, officials said on Wednesday. The prime minister will join the function via videoconferencing. Prizes will also be given to about 50,000 school students who had participated in speech, essay and poetry writing competitions on the «2047 — Viksit Bharat ki Railway» theme, organised by the Indian Railways across 4,000 schools.

Jindal Steel & Power share price gained more than 3% in intraday trades on Wednesday. The Jindal Steel share price that is up almost 32% since 1st November and also scaled 52-week highs in February itself. Jindal Steel had impressed with the December quarter performance as its net profits more than doubled over the year-ago quarter.

Delhi Chalo march on Wednesday. After four rounds of negotiations with the union government failed to yield results, the Shambhu border crossing between Punjab and Haryana looks set for a faceoff between protestors and police forces today morning. The first rounds of tear gas shells were fired by police forces around noon.

Hirotake Yano, who founded the 100-yen retail chain Daiso, Japan’s equivalent of the dollar store, has died

Investing.com-- Gold prices rose in Asian trade on Wednesday, extending a recent rebound as the dollar retreated in anticipation of more cues on U.S. interest rates, most notably from the minutes of the Federal Reserve’s late-January meeting. 

By Lisa Barrington, Brenda Goh and Joe Brock

₹231.05 apiece on BSE. Aditya Halwasiya purchased 1,18,02,094 equity shares of Tourism Finance Corporation of India at an average cost of ₹209.75 per share, according moneycontrol's news report.

Dipan Mehta, Director, Elixir Equities, says “it is fantastic that the thunder is missing in the market because if the market goes up quietly, then one can certainly say that the froth is not there and the risks are lower. But we are seeing a lot of liquidity coming in. The thunder is missing because a lot of money is coming through institutional managers, especially mutual funds or through portfolio managers. So, the percentage of professionals managing the money compared to just raw retail coming to the market is significantly higher in this bull market than ever before.” I specifically want to talk to you about Union Bank, if you track that one, because I think it is the second QIP that the bank is doing within a matter of 8-10 months. Dipan Mehta: Union Bank is following a very sensible strategy while the going is good and there is much interest in banking stocks and the performance also has improved. They are using this opportunity to shore up their capital and eventually that will translate into higher growth rate because higher capital adequacy will enable them to drive their credit book as well and they will be able to utilise the entire brand and the distribution network to perhaps lend more.

Investing.com-- Anglo-Australian miner Rio Tinto Ltd (ASX:RIO) clocked a weaker underlying profit for 2023 as softer iron ore prices and demand weighed on its topline, although the figure was still slightly above expectations on stronger production. 

By Echha Jain and Lewis Jackson

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NEW DELHI : The Union health ministry plans to expand the scope of its flagship cashless health insurance scheme, covering more expensive cancer and transplant-related surgeries and treatments for individuals from poor families. The ministry had in 2022 included certain basic oncology treatments such as chemotherapy and radiation, as well as kidney and heart transplants and dialysis under the scheme called Ayushman Bharat–Pradhan Mantri Jan Arogya Yojna. While private hospitals typically charge ₹2.5 lakh to ₹10 lakh for such procedures, the government plans to include more complex treatments costing ₹20 lakh to ₹30 lakh, according to two ministry officials familiar with the plans.