COST Financial News

U.S. Federal Reserve Chair Jerome Powell said emphatically last week that people «hate inflation, hate it,» but he left another fact unspoken — they also punish the politicians in charge when prices rise. The central bank's quest for a "soft landing" of more slowly rising prices and continued economic growth looks increasingly probable.

UBS Group AG hired longtime trading executive Brian Williamson as it seeks to expand its US execution hub, set up to help asset managers and hedge funds cut costs tied to running a trading desk.

Private equity firms have been increasingly adding another layer of debt to their complex borrowing arrangements, raising concern among some investors about potential risks to the wider industry and the financial system.

Zerodha Co-founder and Chief Executive Officer (CEO) Nithin Kamath has advocated against opening demat accounts for free just to increase user accounts. While claiming that Zerodha is the only brokerage firm to charge account opening fees from clients, Kamath explains why not charging an account opening fee is a non-starter for the broking platform. In its blog post 'Z-Connect', Zerodha said that it charged Rs 200 from customers for opening an account and was the only Indian brokerage to do this.

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SBI Remit, part of Asian fintech powerhouse SBI, has been tapping Ripple for its international money transfer service since 2017.In 2021 it began using XRP as a bridge between two fiat currencies to perform cross border remittances from Japan to a digital wallet in the Philippines. From this month, the effort will be expanded to bank accounts in the Philippines, Vietnam, and Indonesia.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here While earlier the plans were made as per fixed budgets and available funds, the plans today levy more focus on aspirations and experience, irrespective of the cost, with TNPL as an option. “Factors such as demographics and economic conditions play a crucial role in their decision-making process.

Vodafone Idea has launched a 5-day offer called ‘Recharge and Fly’ targeting its pre-paid user base from October 26-30 in association with online travel portal EaseMyTrip, the telecom operator said in a statement Tuesday. The offer, which is exclusive to users of Vi’s mobile application, includes a raffle of sorts that will allow users to win travel coupons on the EaseMyTrip portal and additional data on select packages by recharging their prepaid mobile number during the offer window. “As part of the proposition, Vi users recharging through the Vi App between 26th to 30th September 2023, will stand a chance to win a free flight ticket every hour, valued upto Rs. 5000.

Consequently the list of attractive destinations cutting red tape and offering remote work visa schemes is getting longer. It includes more locations in the Global North, as industrialized nations are often described. That’s because the competition is for long-term talent, not temporary tourists. As of 2023, Spain’s residency visa is open to “international teleworkers,” which allows digital nomads to live in the land of Don Quixote, paella and Mediterranean beaches for a period of up to a year while they work remotely for an employer that’s based outside of Spain. You can apply at a Spanish embassy or consulate in your home country. If you are already in Spain on a tourist visa, you can submit an application for a residency card as a digital nomad that will be valid for three years, and renewable for two.

NITI Aayog will soon undertake the evaluation of India’s biggest subsidy schemes, the National Food Security Act and LPG subsidy, to rationalise expenditure, prevent leakage and ensure benefits are reaching the eligible candidates. The Development Monitoring and Evaluation Office, which is an attached office of NITI Aayog, has invited proposals for a central coordinating agency for evaluation of the two schemes, which together cost the exchequer nearly Rs 4,00,000 crore a year. “The government implements one the largest public food and nutritional safety nets in the world through the National Food Security Act (NFSA), enacted in 2013. However, despite the large public expenditure, gains in the food security and nutritional outcomes in India have been slow with the country accounting for roughly 30% of the global burden of hunger,” the DMEO said in the RFP document. Explaining the rationale behind evaluation of the LPG subsidy, the DMEO further said that India is the third largest energy consumer in the world after China and the USA. “The current consumption of LPG in India has risen to 12.3% of total petroleum products compared to 1.13% of kerosene.

Australia’s big energy retailers are warning of a dramatic increase in the number of households struggling to pay their electricity bills, with one company revealing more people are now accessing hardship programs than at the peak of the COVID-19 pandemic.

By Harry Robertson and Tom Westbrook

STOCKHOLM (Reuters) -Scandinavian airline SAS said on Tuesday it was evaluating final bids in an equity fundraising that closed a day earlier, and which is part of an ongoing bankruptcy protection process.

The price of tomatoes in Maharashtra has plummeted from around Rs 200 per kilogram just a month ago to as low as Rs 3-5 per kilogram, leaving tomato growers in the state grappling with significant losses and few options. This sudden decline in prices was triggered by an unexpectedly high tomato yield, catching everyone involved in the sector off guard,, the Times of India has reported today. As per the report, many farmers are either abandoning their tomato crops or are destroying their produce, as they cannot even recover half of their investment.

Oyo, has claimed it is on the verge of reporting its first-ever profit after tax (PAT) in the ongoing quarter. In an email to the company’s top management, founder Ritesh Agarwal shared that quarter two of the financial year 2024 (FY24) will mark the company’s maiden profitable quarter with a projected profit after tax (PAT) of over Rs 16 crore. ET has reviewed the email.

gold in some form or the other. Traditionally, Indians have bought gold as a way of saving for a rainy day or their important financial goals. Therefore, buying gold is seen as a financial support system. At present, there are two routes to buy gold — paper and physical. Within each, there are various ways to buy the yellow metal. Here is a look at six ways you can buy and invest in gold.

What would Solomon Lew’s retail empire, Premier Investments, be worth if its most lucrative assets were split up and spun out? That’s the question on the mind of shareholders ahead of the company’s results on Thursday.

A Rio Tinto-controlled group has flagged the clean-up of the Ranger uranium mine, in the environmentally and culturally sensitive Kakadu National Park in the Northern Territory, will blow out beyond $2.2 billion.

economic cooperation – in 2023 with Russia for the first time getting into the three top trade partners of India due to contribution of International North South Transport Corridor (INSTC), CEO of RZD Logistics (top Russian logistics company that operates INSTC) Dmitry Murev told ET. The export from Russia to India in the 2022-2023 financial year increased by 4.7 times and activation of INSTC is one of the most important factors that contributed to this, according to Murev. “Our company managed to build strong partnership with the leading participants of transport and logistics industry of India, Iran, Turkmenistan and Kazakhstan, which, in particular, allowed to cut the net cost of the end-to-end transportation service along the Eastern route of INSTC by 50% since August of 2022,” Murev informed. All three branches of INSTC – Western, Trans-Caspian and Eastern – are working. Each of these routes has its own infrastructure characteristics and perspectives, uniting certain groups of member countries of INSTC, with India and Russia being actively involved in the work of the corridor on all three routes, RZD CEO pointed out. The Western route of INSTC connects Russia, Azerbaijan and Iran by rail and auto transport for connecting to India and Persian Gulf countries.

«I think big picture wise, my whole hypothesis is that if you look at the whole base of financial savings, it is in the order of magnitude about Rs 250-300 lakh crores and bulk of it has gotten created in the last 25 years,» says Ashish Kehair, MD & CEO, Nuvama Wealth.So for any entrepreneur, for any professional, the minute you get listed, it is a big day. But I always tell people who come on the show that then you have to be prepared for more media interviews, more scrutiny and more questions by television anchors. Is it really worth it? Think about it? Absolutely.