COST Financial News

Founded in 2018 by Rishabh Goel, Anand Agarwal, and Mayank Khera, Credgenics is revolutionizing the way collections are made and serviced in the country. The AI-powered SaaS-based platform has also garnered recognition from IBS Intelligence as the #1 Bestselling Loan Collection Platform in India in their Annual Sales League Table 2022.Digital debt collections is the need of the hour with lending moving into the instant mode, digital format, and fast gear.

Crypto criminals have stolen more than $10 billion to date, despite crypto crime slowing down, a new report said on Monday. According to data presented by AltIndex.com, crypto scammers and hackers stole more than $3.5 billion of cryptos in 2022. Cryptocurrency heists took off in the last six years, going from only 15 hacks reported in 2017 to 136 in 2021, according to Comparitech data. During this time, the total value of stolen cryptos increased eight times, from approximately $324 million to a staggering $2.7 billion.

Investing.com -- Shares in 3M Co. (NYSE:MMM) climbed in premarket U.S. trading on Monday following media reports that the industrial conglomerate has tentatively agreed to pay over $5.5 billion to resolve hundreds of thousands of lawsuits alleging that its earplugs sold to the U.S. military were defective.

global market and ship them home to help keep local prices cool. This would entail a fiscal cost, of course, but using bulk imports is a less distortive way to hedge the risk of a price flare-up.

Mortgage data from Canada’s two biggest banks are painting a picture of homeowners straining under high borrowing costs.

business loan for CA, you can maintain or even get your working capital to the required level. For example, if you have not received funds from creditors, you can use the loan to meet the expenses you need to pay. There comes a time when every practice or business needs to upgrade and/or expand its establishment.

The sharp escalation of global bond yields in recent weeks raises the prospect we may be in the middle of a structural shift to a world of permanently higher borrowing costs.

Sun Pharmaceutical Industries Ltd aims to spend 7-8 per cent of its sales in the current fiscal on research and development activities as it looks to further strengthen its product portfolio across therapeutic segments, a senior company official said on Monday. Addressing shareholders during the Annual General Meeting (AGM), Managing Director Dilip Shanghvi said the company did well in all its geographies last fiscal, recording double-digit growth. «Our R&D spending is expected to be 7-8 per cent of sales in 2023-24 with an increasing share of spending in specialty (drug segment) R&D,» Shanghvi said. The Mumbai-based drug maker had reported a global consolidated revenue of Rs 433 billion in FY23. The Mumbai-based drug major spent about Rs 2,400 crore on R&D in 2022-23, which accounted for about 5.5 per cent of the sales as it continued to invest product pipeline for both global generics and specialty businesses.

No one knew what was wrong until a test that looked at her full genetic blueprint found a rare bleeding disorder called factor XIII deficiency — an early diagnosis that saved her life. «You have this hopeless feeling when you don't really know what's going on,» said her father, Mike Schulte. «Casting a wide net really made a world of difference figuring this out quickly and getting her the right care that she needed almost immediately.» Brynn, now 4, got the genetic testing as part of a clinical trial, the results of which were published recently in the Journal of the American Medical Association. «Whole genome» tests are nearly twice as good as narrower tests at unearthing genetic abnormalities that can cause disease in infants — the study found 49% of abnormalities, compared to 27% with more commonly used tests targeting particular types of genetic diseases. Whole genome tests could solve the problem of doing several narrowly targeted tests on babies, which still might not find the disorder. Experts caution there are some issues, because labs vary in how they interpret results, and whole genome tests are costlier and less likely to be covered by insurance.

Retirement plans are getting more confusing, but that could be a good thing for financial advisors, according to a Fidelity Investments study released Monday.

Reliance Industries Ltd will continue to operate its refineries and petrochemical projects profitably, even as fossil fuel demand wanes due to a gradual global shift to clean energy, Chairman Mukesh Ambani said on Friday. «We have already put in place a comprehensive strategy to ensure that all our investments and all our assets remain not just safe, but actually become profitable even as fossil fuel demand wanes,» Ambani said at the group's annual shareholder meeting. He said Reliance will switch to 100% green energy for captive consumption to cut energy costs, and upgrade the output of its refineries into value added chemicals. Billionaire Ambani on Monday also announced the appointment of his three children as board directors at the oil-to-chemicals conglomerate, as he prepares to eventually hand over the reins. Reliance, the operator of the world's biggest refining complex at Jamnagar in western India, is investing 750 billion rupees ($9.08 billion) in clean energy and technologies as it seeks to become net carbon zero by 2035. The company is building four giga factories at Jamnagar to produce solar cells and modules, energy storage batteries, fuel cells and green hydrogen. "..let me assure you that both during and after energy transition, our Jamnagar refining complex and all other petrochemical complexes will continue to operate profitably," he said. Reliance aims to start commissioning facilities at its solar cell and module factory in phases from end-2025 and to set up a battery giga factory by 2026, he said, adding the plan is to install at least 100 gigawatts of renewable energy generation capacity by 2030. Ambani said Reliance's Jamnagar refining complex, which has the capability to process 1.4 million barrels

ethos pervades everything that we conceive, believe, and achieve at Reliance. Esteemed Friends, In all humility, I would like to say that the new Reliance has been a forerunner of the emerging new India. With soaring ambition, we have set seemingly impossible goals and achieved them.

Reliance Industries Ltd (RIL), stated in the 46th Annual General Meeting (AGM) 2023 that the establishment of a giga factory for batteries by 2026 is a concurrent priority for them. In order to create a fully integrated ecosystem, the giga battery will produce battery chemicals, cells, and packs, all the way up to containerised energy storage systems.

Reliance Industries chairman Mukesh Ambani on Monday announced that the conglomerate's financial services division Jio Financial Services may also start offering blockchain-related products as well as digital rupee. «JFS products will not just compete with current industry benchmarks but also explore path-breaking features such as blockchain-based platforms and CBDC. They will adhere to the highest standards of security, regulatory norms and ensure protection of customer transaction data at all times,» Ambani told shareholders at the company's AGM. The RBI has devised the central bank digital currency (CBDC) known as e-rupee as a digital alternative to physical cash — using blockchain distributed-ledger technology.

Investing.com — China slashes a levy on stock trading in a bid to reinvigorate capital markets and boost investor confidence. Shares in the country rise following the announcement, although ailing property group Evergrande's shares slide sharply after they start trading for the first time since March 2022. Meanwhile, 3M's stock climbs in premarket trading on reports that the industrial conglomerate has reached a settlement over personal injury claims related to earplugs it has sold to the U.S. military.

European stocks started the week on a positive note, tracking Friday’s gains on Wall Street following cautious comments from central bankers at Jackson Hole. China’s support measures for its equities market helped lift sentiment.

Solar capacity addition in the country declined 58 per cent to 1.7 gigawatt in the April-June period, mainly due to land and transmission-related issues, Mercom India said on Monday. The country added 4 GW of solar capacity in the year-ago quarter, the research firm said in 'Q2 2023 India Solar Market Update'. «India added 1.7 GW solar capacity in Q2 of 2023.

Mukesh Ambani revealed little about future plans in the highly competitive and regulated business at the annual general meeting (AGM) of Reliance Industries on Monday. The stock had hit a 5% upper circuit after Ambani started reading out his speech but as there were hardly any triggers, the counter succumbed to selling pressure once again. Ambani's announcement that JFSL will enter the insurance segment came as no surprise to investors as the company's information memorandum has already laid out four key businesses that the company intends to target — retail lending, asset management, insurance, and digital payments. During the AGM, Ambani announced that JFSL will soon offer simple and smart products in life, general, and health through a seamless digital interface, potentially partnering with global players. He said the company will use predictive data analytics to co-create contextual products with partners and cater to customer requirements in a truly unique way. “In payments, JFSL will consolidate its payments infrastructure with a ubiquitous offering for both consumers and merchants, further driving digital payment adoption for India. JFS products will not just compete with current industry benchmarks but also explore path-breaking features such as blockchain-based platforms and CBDC.

The financial capital of India has recorded the sixth highest year-on-year growth in prime residential property prices among global cities in the April-June period of 2023. In the second quarter of 2023, the prices of prime residential properties rose by 5.2 per cent year-on-year in Mumbai.

Skyroot Aerospace, which launched India's first private rocket in 2022, aims to double its planned launches starting next year on a likely boost to the country's fledgling private space sector from the success of the Chandrayaan-3 moon mission. The Hyderabad-based company, backed by Singapore's sovereign wealth fund, GIC, is also aiming to raise more money by the end of next year, co-founder Pawan Kumar Chandana told Reuters in an interview. «From 2024 and later, we're looking at at least two launches per year and will probably ramp up as we move further,» said Chandana, whose company is set to send its second rocket to space by the end of the year. Chandana, a former scientist at the Indian Space Research Organisation, said he was receiving «a lot of messages from global and domestic investors» who want to understand Skyroot's business ever since India became the first country to achieve a safe landing on the lunar south pole. The company conducted India's first private rocket launch looking to cut satellite launch costs in an industry fast getting crowded as various firms build out networks to deliver broadband services, which need small satellite launches.

Jio Airfiber on the auspicious occassion of Ganesh Chaturthi next month. «Today, I'm delighted to announce that JioAirFiber will launch on the auspicious occasion of Ganesh Chaturthi on 19th September, giving us another avenue for customer value and revenue growth in the untapped Indian home segment,» Mukesh Ambarni announced in his address to shareholder in Reliance's 46th Annual General Meeting. «Jio AirFiber uses a pan India 5G network to bypass the need of last mile fiber. With Jio AirFiber we can supercharge internet expansion to 150,000 connections per day,» Mukesh added. At last year's AGM, Jio had revealed the AirFiber 5G hotspot device.