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AFTER YEARS of praying for more rain, Californians unexpectedly found themselves wishing for less this week, when tropical storm Hilary blew in from Mexico on August 21st. Rainfall records were smashed in Los Angeles and San Diego. Death Valley, farther inland, was deluged with as much rain in a day as it normally receives in a year.

electric vehicle (EV) infrastructure within the priority sector lending category, a senior official said Saturday, a move that would come as a boost for the sector. «We have received a representation to include EV infra in the priority sector. We will look at reworking the priority sector lending (PSL) requirements for banks,» the official said, adding that the issue will be discussed with the Reserve Bank of India (RBI). The power ministry has also written a letter to the Department of Financial Services in this regard, the official said. According to RBI guidelines, it is mandatory for banks to extend 40% of their adjusted net bank credit to the priority sector.

reliance on China for revenues. In 2021 the 200 biggest multinationals in America, Europe and Japan made 13% of their sales in the country, earning $700bn. Tesla is more exposed still, making around a fifth of its sales in China; Qualcomm, a chipmaker, makes a staggering two-thirds.

RBI target leading to an elongated high interest rate cycle. However, corporate earnings are forecast to remain buoyant in Q2 due to a moderation in international costs (fuel, metals, and chemicals) and festival demand. The upswing in retail inflation observed in July at 7.44% warrants careful observation due to its potential upward risk.

The rapid advance of self-service checkouts relying on customer honesty, a shortage of 32,000 retail workers and opportunistic crime gangs are behind a worrying new trend for retailers.

National Australia Bank is preparing to hand down redundancies to about 10 per cent of the staff manning its 600-strong markets division, Street Talk can reveal.

Chandrayaan-3 touched down on the Moon’s surface last week, joining the US, China and the erstwhile Soviet Union in successfully making a soft landing on the lunar soil. What’s remarkable is that India is the only nation to have landed near the southern pole. This spectacular feat will invigorate the Indian Space Research Organisation (ISRO) to undertake more missions and be counted among the space powers of the world.Cost of the mission One of the most interesting facts about the Chandrayaan-3 mission is its cost. India managed to com

Ripple (XRP) has continued to rise, with a strong buying trend keeping it around the $0.5235 level.

More than 98 per cent of India’s senior citizen population remains devoid of health insurance coverage amid the increasing cost of healthcare services, according to a recent survey by leading insurtech platform Plum. The need for comprehensive health coverage for senior citizens has become more apparent, however, the penetration continues to be a challenge. According to census reports, India has 1,380 lakh elderly citizens and is further expected to increase by around 560 lakh by 2031.

Dating apps are testing the limits of how much users will pay in their quest for love. Match Group, which owns a fleet of dating apps, recently added a plan to Hinge with a monthly rate around $50, up from its previous high of $35, and is examining user interest in a plan for Tinder nearing $500 a month. Bumble is considering a tier above its current $60-a-month plan, while gay dating app Grindr plans to widen its subscriptions with more premium offerings.

private credit market has led to underpricing of risk and distortion of the market, EY said in a report. In the past six months, global and domestic funds have raised more than $2 billion to invest in performing credit, stressed credit and special situation opportunities, it said. There is strong interest among family offices and high net worth individuals to invest in private credit funds, said the report.

New Delhi: The government is considering a proposal to include electric vehicles (EVs) in priority sector lending category, a senior official said on Saturday. «We have received a representation to include EV in priority sector. We will look at reworking the priority sector lending requirements for banks,» the official said adding the issue has to be discussed with the Reserve Bank of India. As per RBI guidelines, it is mandatory for banks to extend 40 per cent of their adjusted net bank credit to priority sector. Currently, seven sectors — agriculture, Micro, Small and Medium Enterprises (MSME), export credit, education, housing, social infrastructure, and renewable energy — are considered for priority sector lending (PSL).

Cuemath has laid off 100 more employees amid a challenging macroeconomic environment for edtech companies, the media reported on Saturday.Peak XV Partners (formerly Sequoia Capital India) backs the startup. «Unfortunately, our revenue and cost trajectories are still divergent from expectations, and our problems are compounded by the bad macro situation around capital availability, particularly for edtech,» Cuemath's Founder and CEO, Manan Khurma, told employees in an email dated August 25, which is seen by Moneycontrol. «This means that we will have to move to a leaner team structure, in which some roles will get redundant. That exercise is being carried out today,» he added. In May, the company had laid off about 100 employees to improve efficiencies amid a worsening global landscape for K-12 edtech. «Post the May8 exits, I had said that hopefully the company will not need to take a similar action again.

Candace Johnson on Saturday said there is an expectation from Chandrayaan-3 Pragyan rover to show if there is ice on the south pole of the Moon. Speaking at the B20 Summit India organised by CII, Johnson said India's space mission is not just inspiring its own youth but also the youth worldwide. «Rover has now started to literally take the first steps.

Indian Space Research Organisation has released a fresh video as the Pragyan rover on board the Chandrayaan-3 mission explores the lunar surface. The rover - which descended onto the moon aboard the Vikram lander has now rolled more than eight meters across the lunar surface. Chandrayaan-3 landed successfully on the south pole of the moon earlier this week, with the site now named ‘Shiv Shakti’ point.

Baghel on Saturday wrote a letter to Prime Minister Narendra Modi seeking investigation into the toilet construction in the state during the previous BJP government. Despite Chhattisgarh being declared as an Open Defecation-Free (ODF) state in 2018, around 15 lakh families are yet to have access to advanced toilet facilities, he claimed. Baghel also demanded an incentive of Rs 30,000 for toilet construction for these families instead of Rs 12,000. In the letter, the CM highlighted the findings of the National Family Health Survey-6 (2019-21) conducted by the Union Ministry of Health and Family Welfare, which showed that 88.2 percent of urban families and 73.5 percent of rural families in Chhattisgarh have access to advanced toilet facilities. Overall, 76.8 percent of families in the state are using advanced toilet facilities, he pointed out. These statistics were corroborated through inspection during the recent social and economic survey conducted by the state government, Baghel said. During the previous (BJP) government, 32 lakh toilets were constructed at a total cost exceeding Rs 4,000 crore and the state was declared as ODF in January 2018, he said. But around 15 lakh families still lack access to advanced toilet facilities which is a matter of concern and should be investigated, he said in the letter. There should be an independent investigation into the issue, Baghel said. He also requested approval for the construction of toilets in the Left-Wing Extremism-affected and inaccessible areas through the gram panchayats.

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EPC major Larsen & Toubro, refining and marketing major Indian Oil Corporation and renewable energy player Renew have formed an equal joint venture to set up their green hydrogen business. The joint venture company is called GH4India Private Limited where the companies will hold 33.33% each, L&T said in a regulatory filing. The companies had last April signed a binding term sheet for the formation of a joint venture company to develop the nascent green hydrogen sector in India. «The joint venture is formed for the purpose of development of green hydrogen and its derivatives (including green ammonia, methanol, etc) production assets and associated renewable assets through any model of ownership and operatorship,'' L & T said in a regulatory filing. Authorised capital of the company is Rs 3 crore (30,00,000 equity shares of Rs 10 each). For countries like India, with its ever-increasing oil and gas import bill, green hydrogen can also help provide crucial energy security by reducing the overall dependence on imported fossil fuels. While nearly all hydrogen produced in India today is grey, it is estimated that demand for hydrogen will be 12 MMT by 2030 and around 40% of the element produced in the country (around 5 MMT) will be green, as per the draft National Hydrogen Mission guidelines. By 2050, nearly 80% of India’s hydrogen is projected to be ‘green’ – produced by renewable electricity and electrolysis. Green hydrogen may become the most competitive route for hydrogen production by around 2030.

Remember, successful investing requires patience, discipline, and a well-thought-out strategy that aligns with your financial goals and risk tolerance. Yet, several investors end up making mistakes that can easily be avoided. Such mistakes can cost dearly and disrupt one’s financial plan. Here are some of the common mistakes that investors end up making.

Sunil Subramaniam, MD & CEO, Sundaram Mutual. Edited excerpts:ET Now: Can you provide your perspective on the current market situation and whether you think the bearish grip will continue?Sunil Subramaniam: I believe the recent market volatility is driven more by the anticipation of the upcoming Fed meeting and the potential for one or two interest rate hikes. The market seems uncertain about this prospect.

Sajjan Jindal wants the government to counter American tariffs and Europe’s carbon tax with a similar levy, to level the playing field for companies like his. In an interview in New Delhi, the chairman of JSW Group spoke about the outlook for flagship JSW Steel Ltd. and confirmed a Bloomberg News report about its acquisition plans.On carbon taxes Every region is thinking in terms of their own protection. US has import tariffs on steel.