COST Financial News

Atul Lall, Vice-Chairman & MD, Dixon Tech, says “as per the guidelines under IT PLI 2, we are committed to deepening the manufacturing and increasing the local value addition over a period of six years. We already have a large relationship with Acer. We have recently been awarded a large contract for notebooks by another very large global brand. We are setting up a new factory. This factory should be ready in the next six to eight months. We plan to take 2023-2024 as the base year and the commercial production should be starting in 2024-2025. This is indeed a very large opportunity prediction and we want to pursue it very aggressively.”We know already that you are looking at that PLI scheme as well and this entire import ban etc., that the government has introduced. Talk to us about the numbers in terms of the potential. What do you see it to be? You have tie-ups with Lenovo, Acer etc. Are those conversations now increasing? Are you getting more client inquiries?Undoubtedly, it is a very large opportunity for us.

Jaishankar on Thursday said India's G20 presidency comes with expectations and responsibilities that are exceptional. Speaking at an event at Delhi University (DU), the EAM weighed in on what makes India's G20 presidency different. «The first reason is actually the chair.

Adamantem Capital chief executive Rob Koczkar has asked the Albanese government to lower barriers to entry for investment into private equity, and wants to see a simpler process for business owners exploring merger and acquisition options.

Treasury is considering banning “screen scraping” of financial data from bank accounts, a move that could force data sharing across the financial services sector into the alternative open banking regime.

Australian Banking Association chief executive Anna Bligh says over-regulation of the financial sector is strangling smaller lenders with compliance costs and making it tougher for them to compete with the big four banks.

Quordle is here with yet another interesting puzzle.Here you will get all the hints and answers to today's Quordle. You might require help if Quordle is new to you. Below is a brief summary about Quordle.

Japan's defense ministry is requesting a nearly 12% budget increase that includes two warships with advanced radar and long-range cruise missiles

Swiss bank UBS announced plans to save $10 billion in costs as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations, releasing its first earnings report since the government-orchestrated merger to help stave off ...

Swedish buy now, pay later firm Klarna reduced its losses by roughly 67% in the first half of 2023, as the company dramatically cut costs in a bid toward profitability.

sprawl across landscapes and attract legal challenges from groups with other ideas on how the land should be used. The need to limit greenhouse-gas emissions has spurred liberals, historically wary of nuclear’s toxic-waste problem, to rethink their stance. In America 46% of Democrats favour using nuclear energy for electricity, the highest proportion in a decade.

Indian Fast Moving Consumer Goods (FMCG) sector is on the cusp of a technological transformation, where Artificial Intelligence (AI) emerges as the guiding force reshaping every aspect of its landscape. From the shelves that hold your morning cereal to the ads that catch your eye online, AI is revolutionizing how FMCG operates, adapts, and thrives in a dynamic market. While the use of AI is still in early stages in the Indian FMCG industry, it is only a matter of time, before it is used extensively.

climate change by reducing dependency on fossil fuel-based energy, lowering the carbon footprint, and manufacturing green steel. “This collaboration perfectly describes our commitment towards clean and green energy solutions, which not only aligns with our goals towards climate change and sustainable development but also significantly benefits the steel manufacturing unit by reducing CO2 emissions and costs, enhancing sustainability, and contributing to carbon neutral goals by producing green steel," said Dilipkumar Pachpande, managing director, Sanyo Special Steel Manufacturing India.

It is more than two years since high inflation returned to the rich world, and hopes that it will quietly fade are themselves fading. True, prices are rising more slowly than in 2022, when the pace hit 9.1% in America, 10.6% in the euro area and 10.4% globally. But the view that this was just a passing lurch looks ever less plausible.

BRICS intensified discussions on expansion and a common currency. Originally comprising Brazil, Russia, India, and China, BRICS was coined by Goldman Sachs in the 1990s to encourage investment in emerging economies. South Africa, the first non-original member, aptly led a summit centered on group expansion.BRICS expanded its wings: The BRICS meeting concluded, and the good news is that they are happy to shake hands with 6 more countries- Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates (UAE). Currently, the core BRICS countries control around 23% of global exports and 19% of global imports, and the new members would add 3.7% and 3.0% respectively, with Saudi Arabia being the biggest individual new member in terms of exports and the UAE the biggest new importer. What BRICS+ have now? This alliance includes six leading crude oil producers—Saudi Arabia, Russia, China, UAE, and Iran—yielding substantial energy and geopolitical influence. It unites three top African economies—Egypt, South Africa, and Ethiopia—and South America's key players, Brazil, and Argentina. Strikingly, this coalition bridges the divide between ideological rivals: Sunni-majority Saudi Arabia and Shia-majority Iran. With a diverse mix of economic, energy, and political dynamics, this alignment reflects a complex global landscape where nations with disparate interests find common ground, underscoring the intricate interconnectedness shaping today's international relations. Saudi Arabia, China, Russia, India, and other nations have rapidly bolstered trade and relations.

California Gov. Gavin Newsom is planning to spend $360 million demolishing a sprawling former furniture factory at San Quentin State Prison and replacing it with something reminiscent of a college campus

Instagram, X (formerly known as Twitter) and others. As most of these social media websites are based abroad, how will an individual who earns money from these websites get taxed?

Manish Singh, CIO, Crossbridge Capital, says “I remain positive on China. I remain positive on emerging markets. What is going to happen is the pie is going to get bigger. We are going to have big global growth as the power of the US, power of the western world reduces and that means the cost of capital goes down in emerging markets. We have more growth and there will be rapid and bigger global growth. ”Let me begin with the Q2 US economic data. It is fair to say that even though it is slightly below estimates, 2.1% is telling us that things are back on track. There is definitely a recovery in the US economy and recession fears are receding. Is that a fair interpretation of the numbers?Anything at 2% and over is something that everyone should be very pleased about and it just keeps the recession fears at bay.

Magellan Financial has one less short seller to worry about.

In an interview with Mint, Niraj Kumar, Chief Investment Officer of Future Generali India Life Insurance Company said while India remains an attractive investment destination for long-term investors given its strong macro fundamentals, the current valuations offer a limited margin of safety. Kumar also talked about the sectors that look attractive at this juncture and how General Elections 2024 will influence the market. The global economy has been witnessing conflicting signals in terms of economic activity and growth.

“On the valuation front (P/BV), NIFTY has seen some time-wise correction and is currently trading at around 1x standard deviation,” says Deepak Ramaraju, Senior Fund Manager, Shriram AMC. In an interview with ETMarkets, Ramaraju said: “Midcaps are the most expensive of the pack, trading at 1.5x of that, and small caps are trading at 1x standard deviation” Edited excerpts:A proud moment for India when Chandrayaan 3 landed on the moon last week. How will India Inc. benefit from these space missions? The unsung heroes.It's indeed a proud moment for the entire nation.

Daniel Andrews has warned Victorians to brace for much higher power prices during the energy transition, after the energy market operator identified the state as at key risk of blackouts this summer because the system is running behind on its conversion to renewable energy.