COST Financial News
16.08 / 19:41
COST
Target
Extreme
Action
Parke
band
RBI could extend incremental CRR to rein in liquidity
Reserve Bank of India (RBI) may extend the temporary incremental cash reserve ratio (CRR) it imposed on banks last week as the monetary authority is seen training its sights on liquidity management to tackle inflation rather than lifting benchmark policy rates to tame wild jumps in food prices. Consumer Price Index (CPI) inflation surged to 7.44% year-on-year in July from 4.87% in the previous month, driven primarily by high vegetable prices.
16.08 / 19:41
COST
UPS
awards
Highways
cover
Land acquisition, flyovers and tunnels raised Bharatmala cost: Official
highway projects under the Bharatmala programme rose significantly from initial estimates due to the construction of wider highways, tunnels, flyovers, and more expensive land acquisition, a top Roads Ministry official said. Speaking to ET, the official said that the Comptroller and Auditor General (CAG) report on Bharatmala has overlooked multiple intricacies while concluding that were cost overruns in the Rs 5.35 lakh crore programme. This programme was approved by the Cabinet Committee on Economic Affairs (CCEA) in July 2017.
16.08 / 19:41
COST
Provident
FIVE
show
NCLT approves Vedanta's bid to acquire Meenakshi Energy
Vedanta's bid to acquire Meenakshi Energy through the insolvency resolution process was approved by the Hyderabad National Company Law Tribunal last week. The Anil Agarwal company offered ₹1,440 crore against admitted claims of ₹4,625 crore, equating to a 31% recovery, distributed among lenders, trade creditors and employees. Two other bidders — Jindal Power and a consortium of Prudent Asset Reconstruction Company with Vizag Minerals — were also in the fray for the distressed thermal plant, court documents show.
16.08 / 19:07
COST
Provident
stage
valuation
audit
Companies will need to give report on inventory valuation in case of audit
The Central Board of Direct Taxes on Wednesday released the 13 page draft form 6C, which will be used to report the inventory valuation in case of special audit of accounts directed by assessing officer. The businesses will also have to provide valuation of raw material, date of purchase, use of the inventory, valuation of by-products and cost of contract by the company.
16.08 / 18:33
COST
UPS
Target
Aviat
Strategy
Simulation
Schools
Redbird Aviation eyes overseas flight schools
New Delhi: Pilot training institution, Redbird Aviation, is considering acquisitions of overseas assets, as a part of its expansion strategy to address increasing demand for pilots in India, and boost its fleet size. The company’s objective is to mitigate the impact of supply chain challenges on availability of aircraft, senior executives of the company said. “We acquired a flying school in Colombo, Sri Lanka, which has seven airplanes.
16.08 / 18:33
COST
UPS
Manufacturing
Action
performer
stage
Hero
Crisil downgrades Hero Electric's rating due to delay in servicing of debt obligations
CRISIL Ratings has removed its ratings on the bank facilities of Hero Electric Vehicles Private Limited (HEVPL) from 'Rating Watch with Negative Implications' and has downgraded the ratings to ‘CRISIL D/CRISIL D’ from ‘CRISIL B/CRISIL A4’. The rating action reflects a delay in servicing of debt obligations due to poor liquidity. There has been a sharp deterioration in the financial risk profile due to continued operating losses, stretch in liquidity due to buildup of subsidy receivables and lower than expected equity infusion from external investors.
16.08 / 18:33
16.08 / 18:13
16.08 / 18:13
COST
Strategy
Aldi
Southern
Walmart
Aldi to buy 400 Winn-Dixie, Harveys groceries in Southern US
Discount grocer Aldi said Wednesday it's acquiring 400 Winn-Dixie and Harveys supermarkets in the Southern U.S. Under a proposed merger agreement, Aldi will acquire all outstanding shares of Jacksonville, Florida-based Southeastern Grocers Inc., the pa...
16.08 / 18:13
COST
UPS
Target
Fighting
Southern
foreign
Russia hits Ukrainian grain depots again as a foreign ship tries out Kyiv's new Black Sea corridor
Officials say Russia has resumed its targeting of grain infrastructure in Ukraine’s southern Odesa region, using drones in overnight strikes on storage facilities and ports along the Danube River
16.08 / 18:09
COST
Target
Progressive
Action
Fighting
show
rate hikes
Fed officials see 'upside risks' to inflation possibly leading to more rate hikes, minutes show
Federal Reserve officials expressed concern at their most recent meeting about the pace of inflation and said more rate hikes could be necessary in the future unless conditions change, minutes released Wednesday from the session indicated.
16.08 / 17:29
COST
Target
Exclusive-ArcelorMittal weighs possible bid for US Steel -sources
By Greg Roumeliotis and Emma-Victoria Farr
16.08 / 17:27
COST
UPS
FIVE
Mobile
performer
boost
Caisse de depot gets boost from higher interest rates and infrastructure
The Caisse de dépôt et placement du Québec posted a 4.2 per cent return for the first half of 2023 despite volatile market conditions, with contributions coming from a fixed-income portfolio that was boosted by both higher interest rates and infrastructure bets that can act as a hedge against inflation.
16.08 / 17:27
COST
Provident
Progressive
Matthews
show
social
trudeau
Matthew Lau: Polls suggest Trudeau Liberals are hitting the brick wall of reality
The declining political fortunes of the federal Liberal party — the latest polls suggest they trail the Conservatives by as much as 10 points — is good news. It suggests progressive fantasies about government spending, regulatory initiatives, social engineering and climate policy have finally run into the brick wall of reality. Slamming into a wall is of course painful, so the Liberals are doing their best to carry on denying reality. Their effort to do so is unlikely to continue fooling Canadians, however.
16.08 / 17:13
COST
UPS
Provident
Strategy
Parke
testing
Centre
India's first Common Testing Centre for drones to come up in Tamil Nadu
Common Testing Centre for Unmanned Aerial Systems (drones) would be established in Tamil Nadu at an outlay of Rs 45 crore, the state government said on Wednesday. Tamil Nadu Industrial Development Corporation (TIDCO) is the nodal agency for the implementation of the TN Defence Industrial Corridor, and one of the strategies of the corridor is to provide an ecosystem for the aerospace and defence industry.
16.08 / 16:59
COST
UPS
awards
Highways
Costs
‘Govt saved 12% on costs in Dwarka Expressway project’
NEW DELHI : Centre saved about 12% in construction cost of the country’s first eight-lane, four-level Dwarka Expressway project from the initial estimates and the findings of official auditor CAG that the project cost was exorbitant and much higher than established cost structure, is misplaced, a person in the ministry of road transport and highways said on Wednesday. The person, speaking on condition of anonymity, said that all four packages of Dwarka Expressway were put for tender at an average civil cost of ₹206.39 crore per km but the contracts were finally awarded at a lower rate of ₹181.94 crore per km, thereby making a saving from the initial estimates.
16.08 / 16:15
COST
Citi
Provident
CEO
Mobile
country
PM-eBus Sewa will take electric mobility to grassroots level: Industry players
PM-eBus Sewa scheme to deploy 10,000 electric buses across India will take electric mobility to the grassroots level and boost localisation, automobile industry players said on Wednesday. The Union cabinet on Wednesday approved 'PM-eBus Sewa' for augmenting city bus operations, under which priority will be given to cities having no organised bus service.
16.08 / 16:15
COST
UPS
Provident
DNA
Maui fire victims being identified slowly, President Joe Biden yet to visit
Buddy Jantoc has been identified as one of the 106 Maui fire victims. The officials released the first names one week after the devastating fire. The officials have announced just two names- Buddy Jantoc and Robert Dykman.
16.08 / 16:15
COST
UPS
Intel
country
electronic
Deal
Intel scraps $5.4 billion Tower deal after China review delay
Intel Corp scrapped its $5.4 billion deal to buy Israeli contract chipmaker Tower Semiconductor Ltd after their merger agreement expired without regulatory approval from China. US-listed shares of the Israeli company fell about 11% in premarket trading. Intel, which had decided to buy Tower last year, will pay a termination fee of $353 million to the latter, the company said in a statement.
16.08 / 15:53
COST
UPS
FIVE
NOT
China’s economic slowdown is a surprise that ought not to be
US Federal Reserve and European Central Bank. Moves up or down in borrowing costs among that august group tend to be in increments of a quarter or half-point. The PBoC has elected to startle markets with a fraction of that.
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