COST Financial News

Swiss mining giant Glencore is set to close its copper mining operations in Mount Isa by the end of 2025 — which will result in the loss of about 1000 jobs — but it will keep its refinery and smelters open in Central Queensland.

Artificial intelligence (AI) could be used by pension funds to cut costs, increase investment returns, and highlight possible risks, but there are still “significant challenges to overcome” with its use, said the Mercer CFA Institute global pension report.

Navratri marks the beginning of the festive season in India. The festive season has already kicked in, it's the ideal moment to start organising your holiday travels. Everyone awaits this time of the year. The time of festivity provides a wonderful chance to escape the daily stress and tensions, allowing you to reconnect with your dear ones. Along with travel plans, comes budgeting and careful planning

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The rising cost of fun is becoming a drag. Ticket prices for live entertainment events, from Taylor Swift concerts to National Football League games and high-season Disney theme-park visits, rose at a startling rate this year, triggering a phenomenon that analysts have dubbed “funflation." Families coughed up large sums saved during the pandemic to attend live events and parks this year. Friends treated themselves to memorable performances.

By Neeraj Agarwala

When comparing commercial and residential properties, it’s evident that commercial real estate often comes with a higher price tag. This article delves into the reasons behind this cost difference from a personal finance perspective.

Credit score-based interest rates are the rates at which banks and financial institutions lend money for home purchases, and these rates are determined, in part, by the borrower’s credit score. The credit score, as calculated by credit bureaus, is a numerical representation of an individual’s creditworthiness. It reflects their financial history, including how they’ve managed previous loans, credit cards, and other financial commitments.

Building your dream home is an exciting and momentous endeavor that requires careful financial planning. Constructing a house involves various financial considerations, from setting a realistic budget to exploring financing options and managing costs.

Despite escalating inflation, the forthcoming festive season is poised to witness substantial shopping activity. People are prepared to open their wallets wider this year compared to the previous one, with a notable trend towards shopping in local markets, malls, and offline stores.

Individuals are looking at balanced advantage funds for incremental investments as these funds have been able to navigate market volatility effectively and have delivered superior risk-adjusted returns. Since July this year, these hybrid funds have seen net inflows after nine consecutive months of net outflows. These invest in a mix of stocks and debt instruments, based on a dynamic asset allocation process.

The philosophy of decentralization feeds the heart of the crypto industry, and as new frontiers are pushed pioneering this vast and intricate landscape is the Pocket Network, an entity on a mission to redefine how decentralized applications (dApps) will engage with blockchain data.

India’s appeal as alternative to China rises: Citi’s Khullar The enthusiasm of Indian business leaders, coupled with the 'China plus one' strategy, makes India an attractive market for global investors, he said. Citi sees it as one of the best opportunities for both Indian and international clients, it reported.

export-control regime. American sanctions’ global pretensions depend on the co-operation of allies. In principle, democratic governments in Asia and Europe are similarly wary of China, and devising their own export controls.

Embattled A-League club Perth Glory will be run by Melbourne property developer Robert Brij and entrepreneur John Nekic, in a multimillion-dollar deal that will attempt to make the West Australian team financially viable.

new world order. Inaugurating the three-day Global Maritime India Summit in the national capital on Tuesday, PM Modi said, «In this changing world order, the whole world is looking towards India with new aspirations. The Indian economy is gathering more strength while the world is in the grip of an economic crisis.

Ericsson on Tuesday said it expected the uncertainty impacting its mobile networks business to persist into 2024, after reporting a fall in third-quarter revenue as demand for 5G equipment fell in North America. The company, which pre-announced its results last week and took a $2.9 billion impairment charge on its Vonage acquisition, said it expects current quarter results to be similar to the third quarter. «We are not going to guide for 2024 specifically, because the timing of the recovery of the market is uncertain,» Chief Financial Officer Carl Mellander told Reuters. Gear makers such as Ericsson and Nokia have been hit by a slowdown in spending by telecoms companies. Mellander said the company had increased its previously announced 2023 cost saving target of 11 billion Swedish crowns ($1.01 billion), including the laying off 8,500 employees, to 12 billion crowns. «We have proven that cost cutting is something we are good at...should the market and our financial performance require it, we can do more,» he said. Networks organic sales in North America were down by 60% from last year as telecoms customers adjusted their inventory and were slower to roll out new equipment.

Bajaj Auto is expected to report mid-single-digit revenue growth in the second quarter of the current fiscal, mainly driven by better realisations despite a drop in volumes. Volumes for the September quarter declined 8% year-on-year (YoY), led by a 19% fall in the domestic two-wheeler segment due to base effect, and a 5% dip in export two-wheeler segment due to weak demand trends in African and South Asian regions. Revenue for the quarter is seen growing anywhere between 6-8%, while profit is likely to rise about 16%, according to an average estimate of three brokerages. EBITDA margin expansion YoY will likely be driven by better net pricing and product mix.

I had bought a flat in 1992 and want to sell it now. To calculate the indexed cost of acquisition, the cost inflation index (CII) is available only from 2001-2. How do I get the index for earlier years? Preeti Khurana, Director of Advocacy and Regulations, ClearTax: Many taxpayers were facing difficulty in computing capital gains using 1 April 1981 as base due to the non-availability of relevant information.

IndusInd Bank is likely to have seen another healthy quarter (July-September), led by healthy loan growth and stable net interest margin (NIM). The bank's net interest income (NII) is expected to grow 16% year-on-year (YoY), while the net profit is seen rising 20% YoY, according to an average estimate of five brokerages. The lender reported loan and deposit growth of 4% quarter-on-quarter (QoQ) in its business update. On a YoY basis, loan growth stood at 20% during the said quarter. Analysts expect provisions to decline further in the second quarter, led by lower slippages and better asset-quality trends. In the first quarter, IndusInd Bank had reported a 32% YoY rise in the net profit at Rs 2,124 crore, while NII rose 18% YoY to Rs 4,867 crore. Here's what brokerages expect from IndusInd Bank's second-quarter results. Kotak Securities We expect an 8% YoY rise in PPOP, led by lower contribution from non-interest income, slower NII growth and higher operating cost growth, led by recovery in business momentum. NIM (reported) likely to decline 10 bps at 4.2%.

India should bid to host the 2036 Olympic Games. It would boost urban and sports infrastructure and enhance India’s collective interest in athletic excellence, besides giving a boost to economic activity and tourism in particular. The key to making the Olympics a financial and economic success is detailed planning on where to hold the games, how to integrate the residences, offices and sports facilities built for the event into India’s infrastructure, and how to finance the games without adding much to the government’s spending.