COST Financial News

Karnataka Chief Minister Siddaramaiah on Monday hit out at the BJP-led government at the Centre, alleging delay in giving approval to the construction of the Mekedatu balancing reservoir over river Cauvery, and accused neighbouring Tamil Nadu of causing «unnecessary nuisance» on the issue. Karnataka has been pressing for the implementation of the Mekedatu project, saying it is the only solution for the Cauvery water dispute between the two states during times of rainfall distress. «The BJP government at the Centre has not given permission for the Mekedatu project.

India-Middle East-Europe Economic Corridor announced on the sidelines of the G20 Leaders' Summit is expected to be a game-changer project and provide a huge boost to global trade, said EEPC. India expects this corridor to be economically more viable than China's flagship Belt and Road Initiative (BRI). TheUS, UAE, Saudi Arabia, European Union (EU), Italy, France and Germany were brought together on the economic corridor agreement on the sidelines of the G20 Summit. The US-backed corridor seeks to connect India with Europe via the Middle East by sea and port.

Alchemy Pay is partnering with Polygon (MATIC) to deploy its payment services on Polygon's new zkEVM chain. Alchemy Pay will serve as one of the first fiat-crypto on-ramp providers for the zkEVM ecosystem, allowing users to easily convert their local fiat currencies into cryptocurrencies.

Offchain Labs announced the public testnet and code release for Arbitrum Stylus on August 31, 2023. This new framework is designed to work on Arbitrum Nitro chains, allowing developers to build smart contracts using both Ethereum Virtual Machine (EVM) tools and WebAssembly (WASM)-compatible languages like Rust, C, and C++ . Stylus aims to significantly reduce gas costs and enable new, resource-intensive blockchain applications. The open-source Software Development Kit (SDK) is now available for developers.

It holds a special place in South Korean culture, consumed at various occasions, from intimate family gatherings to extravagant «mukbang» sessions watched by millions, including K-pop sensation Jungkook from the renowned group BTS. Paired with chilled lager, this combination, affectionately known as «chimaek» (a fusion of the Korean words for chicken and beer), is an essential part of the Seoul experience, particularly during baseball games. South Korea boasts the world's third-largest domestic fried chicken market, trailing only behind the United States and China, with a staggering worth of approximately seven trillion won ($5.3 billion).

Insurer RACQ could have picked up a discounting glitch as early as 2012, nine years before it morphed into a $240 million blowout when it was eventually discovered.

Low-cost Qantas subsidiary Jetstar is telling its customers that flight credits incurred during the COVID-19 pandemic have expired, despite having dropped an arbitrary December 31 deadline and in the face of a looming Senate inquiry.

Stock market today: Rishabh Instruments share price opened on Dalal Street in special pre-open session during Monday deals. Rishabh Instruments shares listed on BSE at ₹460 apiece levels and went on to hit intraday high of ₹469.65 per share levels on BSE. Similarly, Rishabh Instruments share price today opened on NSE at ₹460.05 per share levels and went on to hit intraday high of ₹470 apiece levels within few minutes of stock listing on Dalal Street.

Big energy companies’ plans to turn Tasmania’s Bell Bay region into a hydrogen export mecca have taken a back seat as the Tasmanian government turns its focus onto domestic hydrogen projects.

Lithium-play Liontown Resources has allowed New York-listed Albemarle into its data room to undertake exclusive due diligence for four weeks, kicking off the $6.6 billion sale of the Perth-based miner.

Sovereign gold bond 2023: The second tranche of the sovereign gold bond 2023 has opened today and it will remain open for subscribers till 15th September 2023. This means interested investor can apply for sovereign gold bond scheme till Friday this week. The Reserve Bank of India (RBI) on Friday declared sovereign gold bond price at ₹5,923 per gm.

Indian sugar stocks have been in the limelight for past two weeks with marquee scrips rising as much as 15-20%. This is amid concerns about a global sugar shortage. Avlean, the world's largest sugar trader, recently said it expects a sixth straight year of sugar deficit, as supply will be affected by a poor harvest in India.

Sandip Sabharwal, asksandipsabharwal.com, says, “there is no gold at the end of the rainbow for REC, PFC and all these companies. Nothing much has changed for them. It is just that there is some euphoria in the PSU stocks. So can it last? Since the overall equity view for the next two years is still constructive, it could last, but this kind of outperformance might not sustain.”Is private banking, the large two, three names, more like a no-brainer trade now? They are cheap, they have not participated, nothing is wrong, underlying bullishness of the economy is going to only help them. Is Kotak Mahindra Bank and HDFC Bank more like a must-have or go-to trade immediately?HDFC Bank has underperformed after having a run-up post the merger approval. Now in the near term, it should do reasonably well, given that ICRR uncertainty has been reduced. Now, we need to see the actual impact of the merger on the margins over the next one or two quarters to finally say what kind of mojo it can retain and come back with.

In addition to causing spikes in electricity demand as people fire up air conditioners, the scorching temperatures have led to a spate of disruptions at oil refineries. That’s helped keep US gasoline prices elevated and saw diesel cost increases easily outpace those for crude.

Pepe ($PEPE) is struggling to regain the bullish sentiment lost on August 28 after its rug pull. So, its investors are now looking for other options among the new ICOs available. Their attention has turned to Borroe.Finance ($ROE) - a blockchain ICO dedicated to creating an efficient fundraising marketplace. $ROE is also getting attention from Hedera ($HBAR) holders following its recent drop. 

The chief executive of Mexican fast-food chain Guzman y Gomez, Steven Marks, says he is “not going anywhere” and will keep his grip on the ASX-hopeful as it eyes an initial public offering as soon as next year.

UK lawyers behind a $70 billion class action against BHP over the Samarco mine disaster will lobby Australian politicians, super funds and investors this week ahead of a major shareholder meeting for the mining giant.

Nine Entertainment has been secretly pitching for companies to pay up to $12.5 million to back its Olympic Games coverage next year – a roughly 60 per cent increase on the Tokyo Games, as it aims to recoup the $305 million it agreed for the broadcast rights.

First, earmark the assets for your own use, and do not think of leaving everything behind as if it is your sacred duty. The hard-earned wealth accumulated over a lifetime is yours and you are entitled to it much more than your children. Shed the martyrdom, indulge yourself a bit, and forget about the naysayers.

About 146,000 U.S. auto workers are set to go on strike this week if General Motors, Ford and Stellantis fail to meet their demands for big pay raises and the restoration of concessions the workers made years ago when the companies were in financial tr...

The G20 Summit under India’s presidency succeeded in bringing Africa to the table, put the spotlight on climate action and focused on the reform of multilateral development banks, among other key achievements, International Monetary Fund (IMF) managing director Kristalina Georgieva said in an interview to ET. Edited excerpts:What are the key takeaways from India’s G20 presidency? India brought the G20 together, but it did more than that. It invited countries and international organisations; so, we can say the whole world came together. The very first important achievement is the African Union being accepted into G20, which gives a whole continent a voice. I think Prime Minister Modi and the rest of G20 did the right thing to welcome that voice. Second, the Indian presidency brought up ambition on climate action. There was a much stronger sense of urgency to move. Third, on financing, the Indian presidency advanced reform of multilateral development banks and the World Bank, and brought the role of these institutions — as mobilisers of private finance — much more in focus. Four, we have seen the India presidency rallying everybody, (which brought) pledges for lending special drawing rights through IMF to vulnerable middle- and low-income countries to fruition. It started with the Italian presidency, moved to the Indonesian presidency, and now, the pledge has materialised. That means more resources for developing countries.