COST Financial News

Karnataka Bank and non-banking finance company (NBFC) Clix Capital on Tuesday signed up for a strategic digital co-lending partnership through the platform Yubi Co.Lend. The partnership is focused on providing loans to the Indian MSME sector which is one of the biggest contributors to India's GDP and employment growth. The agreement is in line with the Reserve Bank of India's guidelines on co-lending by banks and NBFCs to priority sectors. The partnership combines Karnataka Bank’s low cost of funds, end-to-end digital capabilities and expertise to offer credit facilities to this segment along with Clix Capital's strong & easy lending tech platform and robust due diligence.

Market expectations for rapid interest-rate cuts are a bit premature because the battle against inflation isn’t yet over, International Monetary Fund official Gita Gopinath said. 

In today's world, speed is everything. From shaking your screen for 5-second videos to 1-minute ballets and websites loading in 3 seconds, the pace of life has accelerated.

 Realtor.com chief economist Danielle Hale breaks down housing affordability on 'Maria Bartiromo's Wall Street.'

LG 6.5 kg fully automatic washing machine vs. competitors: Top 10 smart choices 1. SHARP 7.5 kg Fully Automatic Top Load Washing Machine Designed to enhance your washing experience, the SHARP 7.5 kg Fully Automatic Top Load Washing Machine is a smart laundry solution.

U.S. importers are rediscovering the lure of Southern California ports. Trade is swinging back to the ports of Los Angeles and Long Beach after a period in which pandemic-driven shipping disruptions and broader shifts in manufacturing pushed supply chains more heavily toward Gulf Coast and East Coast ports.

₹450 crore and an offer for sale of up to 2,412,685 equity shares. For the IPO, Nuvama Wealth Management, DAM Capital Advisors, and Equirus Capital Private are the book-running lead managers.

WASHINGTON—A government-controlled mortgage giant has a plan that could help more Americans save around $1,000 on closing a mortgage, the latest attempt to chip away at high costs that officials say discourage home buying. Fannie Mae last month said it would expand the types of mortgages it will purchase that rely on a cheaper alternative to title insurance, which is one of the biggest fixed costs tied to closing a mortgage. The alternative, called an attorney-opinion letter, allows a real-estate attorney to essentially attest that there are no problems with a property’s title.

₹1,694.35 in the previous session, on January 15. With that, it has now rallied over 71 percent from its 52-week low of ₹990.25, hit on February 1, 2023. The private sector lender reported a 22 percent year-on-year (YoY) rise in the September quarter standalone net profit to ₹2,181.5 crore on the back of higher income and lower provisions.

One of the flashiest executive perks has roared back since the onset of the pandemic: free personal travel on the company jet. Companies in the S&P 500 spent $65 million for executives to use corporate jets for personal travel in 2022, up about 50% from prepandemic levels three years earlier, a Wall Street Journal analysis found. Early signs suggest the trend continued last year.

India's engineering goods exports recorded a year-on-year growth of 10.20 per cent to USD 10.04 billion in December 2023. While this represents a strong rebound, the sector still faces uncertainties due to the prevailing global economic conditions, an EEPC official said. «It has been a challenging period for engineering exporters. Tensions in Europe and now in West Asia have posed significant downside risks,» Engineering Export Promotion Council of India Chairman Arun Kumar Garodia said. «Projections indicate a potential slowdown in global growth in 2024, and factors such as high interest rates and low consumer spending are expected to continue affecting the sector this year,» he said. Considering these factors, EEPC maintains a cautious optimism and hopes that geo-political tension will ease, leading to an improvement in the global macroeconomic situation, Garodia said.

Gautam Adani on Tuesday said green hydrogen holds the key to India's journey to net-zero carbon emissions, and its current high cost can be reduced by replicating the solar power model. In a blog post for the World Economic Forum (WEF), the head of apples-to-airport Adani Group said leapfrogging to renewables and green hydrogen will help India achieve energy security and improve air quality in cities. Green hydrogen produced by splitting water using renewable electricity is a clean fuel with no carbon emissions.

Canada is considering imposing a cap on the number of international students due to a housing affordability crisis exacerbated by high demand from foreign students. Immigration Minister Marc Miller recently announced a slew of new requirements for foreign students wanting to come study in Canada including proof of more accessible funds. The previous $10,000 proof of accessible funds has been raised to $20,635, with adjustments based on Statistics Canada's living cost benchmark.

Lupin (at 8% YoY) and Dr Reddy’s (at 6% YoY). “We expect the highest growth rate for Torrent pharma (+16% YoY) due to Curatio acquisition and Cipla (+12% YoY) and lowest for Lupin (+8% YoY) and Dr Reddy’s (+6% YoY). We expect India business to witness some gross margin improvement on benign RM (raw material) costs and seasonality impacts," it added.

Arun Sundaresan, Head-ETF, Nippon Life India Asset Management, says “generally, most of these ETFs anyway tend to be low on expense and they may be comparable but the moot point here is that you should not be guided only by the expense ratio. If the liquidity is poor and if the impact cost is very high, that may defeat the entire purpose of low-cost investing through ETFs.” ETFs are seeing substantial numbers as far as the performance across the board are concerned, especially the volumes. I really want to understand the trigger behind these significant volume numbers. Arun Sundaresan: Obviously ETFs and index funds, passive funds as they are called, have been picking up significant traction over a period of time in the mutual fund industry. Already the total assets under management in these types of funds is around Rs 8 lakh crore. Particularly talking about ETFs, the exchange traded funds they have been around for quite some time now. The topic for today's discussion, what we wanted to talk to you about is the liquidity in an ETF, how critical that is when it comes to your investment.

Advisor to Prime Minister Tarun Kapoor said on Tuesday. Speaking at Driving India's Techade: D2M for Bharat — 5G Broadcast Summit, Kapoor said that common men have the right to have all the basics (services). «How we will deliver that we have to think of.

SAW on Tuesday reported an over twofold growth in its third-quarter profit, as demand in the Middle East and North Africa (MENA) region remained steady and its order book grew. The company posted a consolidated profit after tax of 5.32 billion rupees ($64.1 million) for the quarter ended Dec. 31, 2023 from 2.14 billion rupees a year ago. The company, which makes pipes for the energy, transportation and water sectors, said its order book for iron & steel pipes rose to $1.49 billion from $1.32 billion a year ago. «Higher exports, improved volumes and range-bound raw material prices have contributed towards margin improvement,» the company said in a statement. Exports accounted for over 35% of its order book, which analysts said helped offset the effect of falling domestic steel prices, as global prices remained elevated. Its UAE-based unit recorded an order book of $135 million.

Canada’s housing market is nearing a “tipping point” and its recovery will start sooner than many expect, says a new report by one of Canada’s leading real estate companies.

Eagerly anticipated inflation numbers for December — described by one economist as “the main event” this week — will be released by Statistics Canada on Jan. 16. After a series of unprecedented rate increases that peaked in July at five per cent, the Bank of Canada indicated it has likely hiked rates enough to tame inflation with markets now expecting cuts as soon as the second quarter of this year, with the consumer price index data supplying a critical piece to the puzzle.

Despite increasing expectations that interest rates have peaked, many Canadian businesses experienced weaker growth in the fourth quarter and blamed factors including their customers’ financial situations and the impacts of higher rates and inflation, according to the Bank of Canada’s latest business outlook survey.

Tesla Inc. had a blockbuster 2023, as its shares more than doubled in 12 months, but 2024 is starting on a different note, with Elon Musk’s electric-vehicle maker off to its worst start to any year — ever.