COST Financial News

Maruti Suzuki on Thursday said its Board will meet on October 17 to consider and approve the issue of equity shares of the company to Suzuki Motor on a preferential basis. «A meeting of the Board of Directors is scheduled to be held on October 17 to consider and approve the issue of equity shares to Suzuki Motor Corporation (SMC) on a preferential basis for consideration other than cash, to discharge the consideration payable by the company for acquisition of 100% equity stake of SMC in Suzuki Motor Gujarat Pvt Ltd,» the company said in a filing. Earlier in July, Maruti Suzuki India had received board approval to acquire Suzuki Motor Gujarat (SMG) from its Japanese parent SMC. SMG was a wholly-owned subsidiary of Suzuki Motor Corporation and recorded a turnover of Rs 31,853 crore for FY23. The automaker expects to complete the transaction by the end of the current financial year. In terms of actual production, logistics, sales and the costs thereof, there will be no change, as the cars earlier supplied by SMG as a contract manufacturer, will now continue to be supplied as before, the company said. In 2014, the Japanese automaker proposed to set up a separate manufacturing unit in Gujarat, to tap the fastest-growing demand. With an aim to tap domestic demand and drive exports from India, Suzuki Motor established SMG in March 2014.

India's retail inflation eased to 5.02 per cent in September on an annual basis as against 6.83 per cent in August, showed data released by the ministry of statistics on Thursday. On a monthly basis, the prices deflated (-) 1.13 per cent. The food price inflation for September stood at 6.56 per cent as 9.94 per cent in August.

bullet train prices increased by 70 per cent from October onwards. This is the first price hike in four decades. The 14 days unlimited travel pass will now cost 80,000 yen (INR 44719). Earlier, the same pass used to cost 47,250 yen (INR 26412).

Investing.com — U.S. futures rose Thursday, ahead of the release of the eagerly-awaited September consumer prices report.

U.S. wholesale prices rose last month at the fastest pace since April, suggesting that inflationary pressures remain despite a year and a half of higher interest rates

The SEC ordered a Delaware investment advisory firm to pay $1.3 million to settle charges that it placed clients in expensive mutual fund share classes without disclosing related conflicts of interest.

By Rajesh Kumar Singh

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By Ahmad Ghaddar

By Foo Yun Chee

By Nupur Anand

Federal Reserve officials were split over whether they would need to raise interest rates again this year when they decided last month to hold their benchmark policy rate steady. “A majority of participants judged that one more increase in the target federal-funds rate at a future meeting would likely be appropriate, while some judged it likely that no further increases would be warranted," said the minutes from the Fed’s Sept. 19-20 policy meeting released Wednesday.

By Marc Jones

Is Exxon Mobil CEO Darren Woods seeking protection from President Biden? On Wednesday the oil and gas giant struck a $59.5 billion deal to buy Pioneer Natural Resources. The way to read the deal is as a bet on U.S. shale fracking and hedge against the left’s anti-fossil fuels policies.

The commercial real estate asset class in India has become one of the favoured investment avenues for global institutional investors, often referred to as the “Blue Eyed Boy” of private equity funds. Commercial real estate is one of the asset classes that is closely correlated to the underlying country macro-conditions – considering the Indian Growth Story, the returns have been commensurate presenting a compelling risk-adjusted investment proposition. Through innovation and technology, this asset class has largely been democratised, providing retail investors with unprecedented access.

Parents are increasingly prioritising their children’s higher education, driven by a growing awareness of its increasing costs. Consequently, they recognise the importance of diligently planning their investments well in advance to secure the adequate funds.

The net inflows into small-cap and mid-cap equity mutual funds declined marginally month-on-month in September 2023, according to AMFI data.

In a groundbreaking shift in the Indian real estate industry, the demand for luxury homes has outpaced that of affordable housing for the first time in India. This momentous development emerged during the July-September quarter, as revealed in a recent report by real estate consultancy Knight Frank.

In a race to win new customers, small and mid-size banks are willing to pay a higher price. Small and mid size banks are offering upto 7.5% interest on savings accounts, breaking away from the age-old banking practice of using Current Account-Savings Accounts (CASA) as a source of low-cost funds.

₹47 trillion in capital expenditure to achieve net-zero carbon emissions, according to a study by the Council on Energy, Environment and Water (CEEW) unveiled on Thursday. These industries will also require ₹1 trillion in additional operational expenditure (OPEX) annually to achieve this net-zero transition, according to the study - a first-of-its-kind cost analysis for decarbonising these notoriously emission-intensive industries.

If you’re shopping for a luxury home, you’re no doubt focused on the location, size and price of the property. But how are you going to pay for that home? And what can you do if you are self-employed or highly leveraged and won’t qualify for, or don’t want, a traditional mortgage? Many buyers simply pay cash for their homes. According to ATTOM, a property-data provider, 33.12% of all sales nationally of single-family homes over $1 million in the second quarter of 2023 were cash deals.