COST Financial News

Reliance Industries Ltd (RIL), will be listed on Indian stock exchanges on August 21, Monday. “Trading Members of the Exchange are hereby informed that effective from Monday, August 21, 2023, the equity shares of Jio Financial Services Ltd (Formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities," a notice on BSE said. Jio Financial Services listing is scheduled just a day before FTSE Russell plans to drop the stock from its indices.

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real estate market has always attracted the investments from its diaspora spread across the globe. NRIs have readily contributed to the Indian real estate market by purchasing residential and commercial properties in the country. In the past few years, numerous investment opportunities are coming forth in the market that is centered to cater to the burgeoning investment needs of NRIs. Out of all, real estate investment in India is viewed as one of the most lucrative opportunities that increases the returns multi-fold and diversifies the portfolio. While purchasing property in India is an attractive proposition and a common investment option among the Indian diaspora, selling these assets isn't always straightforward. It calls for heightened understanding and thorough planning on the part of the NRIs, particularly concerning tax implications. Therefore, NRI sellers need to understand these intricacies to ensure full compliance and maximize profit.

RBI) has asked the banks to be transparent in resetting the interest rate and EMIs of floating rate home loans under the external benchmark based lending rate (EBLR) mechanism. In terms of extant instructions of Reserve Bank of India, regulated entities (REs) have the freedom to offer all categories of advances either on fixed or on floating interest rates basis, the central bank said.

3,000 buildings in Lahaina were damaged by fire, smoke or both. Insured property losses alone already total some $3.2 billion, according to Karen Clark & Company, a prominent disaster and risk modeling firm.

Amidst a volatile landscape, the cryptocurrency market has witnessed Bitcoin, currently trading at $26,423, experiencing a significant decrease of nearly 11% in the last seven days. 

Bloomberg reported. Here are five things to watch as they gather Aug. 22-24 in Sandton, the business hub in the city’s wealthy northern suburbs: 1.

Nestle to consumer goods multinational Unilever, are experimenting with using generative AI software like ChatGPT and DALL-E to cut costs and increase productivity, executives say. But many companies remain wary of security and copyright risks as well as the dangers of unintended biases baked into the raw information feeding the software, meaning humans will remain part of the process for the foreseeable future.

Liquor is one of the most taxed businesses in the country. A bottle of a particular brand of whisky which cost Rs 400 in one state may cost as much as Rs 1200 in another.

Indian railway stocks have done very well in 2023. This rapid price appreciation has caught everyone’s attention in the market. And there’s very good reason for this.

freight market may finally be finding a bottom. Shippers shouldn’t count on a return to the go-go days of Covid, but resilient US consumers offer a way out of the morass. Bank of America Corp.’s biweekly short-term truckload demand indicator increased 10% in the period ending Aug.

Shibani Sircar Kurian, Senior EVP, Fund Manager & Head -Equity Research, Kotak Mahindra AMC, says “the way we have been approaching the market has been to look at domestic facing sectors and businesses where we are seeing growth and earnings trajectory remaining fairly intact. Sectors where we continue to remain positive include industrials, auto, cement, and banking. Now, within banks, if you look at the way the entire segment has played out, the larger private banks, despite the fact that they have seen improvement in terms of profitability, have not seen multiples re-rate.

Passive funds are gradually gaining market share within the mutual fund industry as a jump in allocations to retirement products, a slew of scheme launches, and lower costs are driving investors to these schemes. The share of passive assets as a percentage of total assets under management has risen to 16% in July 2023 from 6% in July 2019, according to a Franklin Templeton Mutual Fund report. While a large part of this growth has been driven by flows from the Employees' Provident Fund Organisation, which allows asset managers to invest in exchange-traded funds (ETFs), industry officials said several differentiated product launches have been in the passive space, sparking investor interest.

ArcelorMittal SA, the world's second-largest steelmaker, is considering a potential offer for U.S. Steel Corp, three people familiar with the matter said on Wednesday. The combination would reverse ArcelorMittal's retreat from the United States as a production base after it sold most of its operations to Cleveland-Cliffs Inc in 2020 for $1.4 billion to focus on growing markets such as India and Brazil.

Suncorp will provide financial support to smash repair giant AMA in a deal the struggling chain has signed with its key insurance customer.

By Sudarshan Varadhan

Barrenjoey’s accounting valuation has taken a slight hit after major shareholder Magellan reduced its carrying value of the investment bank by 7 per cent to $124 million, from $133.2 million a year earlier.

Investing.com-- Japanese consumer inflation grew slightly more than expected in July as renewed weakness in the yen drove up import costs, with the reading now pointing to more pressure on the Bank of Japan to tighten policy.

Coles Group is on the hook for a further $120 million in costs and 12-month wait following a major delay in the commissioning of its Ocado pick-and-pack fulfilment centre being built in Victoria.

Chinese leader Xi Jinping has called for patience in a speech released as the ruling Communist Party tries to reverse a deepening economic slump and said the West’s pursuit of material wealth led to “spiritual poverty.”