COST Financial News

USDC has been natively introduced on the Polygon Proof of Stake (PoS) network, eliminating the necessity for bridging. With this update, both developers and users can now access USDC directly on Polygon PoS. The integration is facilitated through full support from Circle Mint and Circle APIs, enhancing the ease of accessing USDC liquidity on the Polygon PoS network, known for its speed and cost efficiency.

Invesitng.com — Meta Platforms reported Wednesday third-quarter results that topped Wall Street expectations and stronger guidance for the current quarter as cost cuts boosted margins. 

Blockchain technology, despite its revolutionary potential, is in many ways “stuck in the eighties,” according to Fantom (FTM) blockchain co-founder Andre Cronje.

MUMBAI : Bankrupt airline Go First is staring at a potential liquidation or torturous recovery given the lack of buyers’ interest, fleet uncertainty and mounting costs, two people aware of the matter said. Meanwhile, its lenders plan to seek more time for a rescue since only one candidate has shown interest in the airline so far. Go First’s revival was clouded further by a 3 October government notification that said leased aircraft and engines would not come under the bankruptcy moratorium.

nutrient-based fertiliser subsidy rates for rabi season 2023-24 with an outlay of ₹22,303 crore to ensure farmers continue to get soil nutrients at reasonable rates despite high global prices. The subsidy for the upcoming rabi season will be applicable from October 1, 2023, till March 31, 2024, information and broadcasting minister Anurag Thakur said at a press meeting on Wednesday. For nitrogen-based fertiliser, the subsidy will be ₹47.2 per kg, for phosphorus it will be ₹20.82 per kg, for potash ₹2.38 per kg and for sulphur ity will be ₹1.89 per kg, he said. These rates are, however, below those during the kharif season. For instance, the nitrogen subsidy announced in May for this year's kharif season was ₹76 per kg, while that for phosphorus was ₹41 per kg. This is due to «rationalisation of subsidy on P&K fertilisers in view of recent trends in the international prices of fertilisers and inputs,» said a government statement. «Farmers will continue to get fertiliser at last year's rates,» said Thakur. The Centre was to spend ₹44,000 crore in 2023-24 on nutrient-based fertiliser subsidy, according to the budget for this financial year.

Isro tested the Crew Escape System (CES) for Gaganyaan, marking one more success for the organisation. After the historic Chandrayaan-3 and Aditya-L1 missions, this is one more feather in Isro’s cap. A few days before the CES test, Prime Minister Narendra Modi had directed Isro to aim for setting up an Indian space station by 2035, and seek to land the first Indian on the Moon by 2040.

Lufthansa AG will start another short-haul airline next year, a strategic move intended to cut labour costs by reducing the bargaining power of the company's powerful unions. City Airlines will take to the skies in summer 2024 and offer feeder flights to more profitable long-haul operations at Lufthansa's Frankfurt and Munich hubs.

A senior Armenian official visited Delhi recently and held discussions in this regard, said people with knowledge of the matter. India has emerged as a credible weapons supplier as per Armenia's requirements, they said. Details of fresh supplies are not known yet but the consignment could include equipment that would help to create a deterrence amid the conflict-like situation with Azerbaijan, according to observers in Armenia, who did not wish to be identified. The last consignment sent by India to Armenia included Pinaka multi-barrel rocket launchers, anti-tank missiles, rockets and ammunition.

GoI has announced that it will raise green bonds worth ₹20,000 crore this financial year. Earlier, RBI published a paper on green deposits outlining a framework. While the purposes are clear, three aspects must be examined: the product's price, the deployment of funds, and the system of incentives provided to enable successful issuances. Pricing: This is foremost for a successful issue.

NEW DELHI : The Union cabinet on Wednesday cleared a ₹22,303-crore subsidy for phosphatic and potassic fertilizers for the rabi season that runs till the end of March. While the amount is sharply lower than the previous year, the government assured that farmers will remain protected since international fertilizer prices have fallen, reducing the need for hefty support. The cabinet also approved fresh rates under the nutrient-based subsidy (NBS) scheme for NPK (nitrogen, phosphorus, potassium) fertilizers.

World Cup history, beating Netherlands by 309 runs at Arun Jaitley Stadium on Wednesday. The Aussie side looked in supreme touch as they torched Nethreland with both bat and ball. The winning margin of 309 runs is the largest ever at a Men's Cricket World Cup and the second largest ever in ODIs.

More than 40 interested buyers have lined up for iconic frozen baked goods and desserts brand Sara Lee, which buckled after it struggled to pass through price increases to its customers from the higher cost of doing business.

The Palaszczuk government says it is still committed to the $5 billion CopperString transmission line from Townsville to Mount Isa despite global miner Glencore announcing it would close its copper mines in the region within two years.

TORONTO (Reuters) — Below are some key quotes from a news conference by the Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers (NYSE:ROG) on Wednesday after the central bank held key interest rate at 5%.

Global Market Intelligence, we will jump from our fifth spot to become the world’s third biggest by 2030, moving past Germany and Japan, with only China and the US ahead of us. At $7.3 trillion, our nominal GDP in 2030 would be more than double the $3.5 trillion figure for 2022. To a significant extent, S&P’s optimism stems from our young demographic profile and growing incomes, which make the country a vast market for businesses to serve.

₹8,416 crore to these instruments as of 30 September. InvITs were launched in 2017 but remain somewhat unfamiliar to many investors. These innovative financial instruments are designed to raise capital by issuing units to investors, which are then channelled into infrastructure assets.

Havells India Ltd and Voltas Ltd’s air conditioner segments put up a good show on the revenue front in the September quarter (Q2FY24). Havells’ Lloyd and Voltas’ unitary cooling products (UCP) segments clocked year-on-year revenue growth of about 19% and 15% in Q2, respectively.Lloyd segment also includes other products such as refrigerators and washing machines. But investors are not impressed.

₹1 crore was booked and allotted in 2008-09, and payment for the property was made in instalments of ₹20 lakh each year, over the period of five years from 2008-09 to 2012-13, in which year the property was built and transferred. If the property is being sold in the current year, the entire cost of acquisition of ₹1 crore should be indexed from 2008-09 till 2023-24.

Kajaria Ceramics Ltd has had a dull run in the first half of FY24 with year-on-year volume growth at a subdued 7% amid weakness in demand. After the September quarter (Q2FY24) results, the management has toned down expectations, slashing volume guidance for the year to 9-10% from 13-15% earlier. Having said that, the second half of FY24 (H2FY24) would be comparatively better.

The Bank of Canada held the overnight interest rate at five per cent on Oct. 25, continuing its policy of quantitative tightening while recognizing that global bond yields are also working to tamp down demand.

Food bank visits in Canada soared to a new record this year as the rising cost of living makes it more difficult for people to afford groceries.