COST Financial News

Qatar and Etihad have become an unstoppable force in the global aviation industry much because of the location of their home bases in the Gulf. Their geographical positioning allows them to transfer big chunks of passengers between Asia, Africa and Europe. These are also state-owned carriers of energy-producing countries, which makes them ferocious price warriors in transcontinental travel.

₹975.12 crore, for the first quarter ended June 30. Muthoot's interest income, which is the difference between interest earned and paid, rose 19.2%, to ₹2,957.7 crore. Gold prices hit record high levels this quarter - high prices benefit gold loan lenders as customers pledge more bullion as collateral, pushing up credit sizes.

Glenmark Pharma on Friday reported an 18% year-on-year (YoY) drop in net profit to Rs 173 crore in Q1FY24. The company attributed the net profit drop to an exceptional item of Rs 52 crore in the quarter that comprises remediation cost of manufacturing sites in India and Monroe (US). Revenue from operations rose 22.5% YoY to Rs 3402 crore in Q1FY24.

Apollo Hospitals Enterprises on Friday reported a 47% year-on-year (YoY) decline in net profit to Rs 167 crore for Q1FY24. The net profit was pulled down by Apollo Healthco's digital health platform 24x7 that reported a loss of Rs 83 crore. Apollo said Healthco is on track for break even in Q4 FY24.

World Bank is mulling local currency lending in countries like India to help borrowers save on costs, a senior official said on Friday. «How do we do local currency lending for a country like India is also something we are trying to think of at a price which is advantageous to this country,» Anshula Kant, the Managing Director and Chief Financial Officer of the World Bank, said.

If you’ve been wary of budgeting because you weren’t sure where to start or the prospect of doing math was daunting, there are plenty of apps to do the tedious work for you — no spreadsheets necessary. Using mobile programs for budgeting can also “help you visualize your expenses and start asking yourself valuable questions about how you’re spending your money," says Jordan Benold, a Frisco, Texas-based certified financial planner. There are a lot of popular budgeting methods —such as 50/30/30 and zero-based budgeting—but for most people, the apps make it easier to stick to a budget and automating your personal finances can have great benefits, as The Wall Street Journal newsroom has reported We based these picks on my average-person budget: I’m a married 30-something with no kids in New York City and saving to buy a house.

mutual fund or ETF can do the hard work for you, and probably save you money. A mutual fund is a basket of securities—usually stocks, bonds or a combination of both—that you can buy from an investment company or through a workplace retirement plan like a 401(k). Typically you are allowed to buy or sell once a day.

retail sales. Given the small size of the business relative to the regulatory issues it creates, the company last year discussed offering to exit from the business as a concession to the FTC if the agency followed through with its lawsuit, the Journal reported. It couldn’t be determined whether Amazon has offered to regulators to exit from the business.

By David Shepardson

PTI, the central bank governor batted for an "expeditious completion" of quota review at the IMF in order to help distressed countries better. Shaktikanta Das made the pitch while addressing a seminar on the global economy organized by the Ministry of Finance and the Reserve Bank of India (RBI) in Mumbai. "A bigger and stronger IMF that is capable of managing the levels of country risks assumes crucial importance," Das said.

₹74.6 crore in the three months ended June 30, from ₹82.3 crore a year earlier. The Indian government's push for higher capital expenditure in its last full budget announced in February 2023 benefited companies in the infrastructure and allied space.

By Bansari Mayur Kamdar and Johann M Cherian

Although there are not a lot of details surrounding the ongoing UAW negotiations, Citi believes the recent ups and downs in General Motors (NYSE:GM) and Ford's (NYSE:F) stock prices might be aggravated by worries that there could be a strike. The chance of a strike happening seems to be getting higher, but the stock market sees it as something uncertain. Looking at how negotiations went before, Citi doesn’t believe the news right now is good enough to predict exactly how it will affect the companies. However, these new events do make it more likely that a strike could happen, and investors have been expecting something like this.

By Julie Cazzin with Allan Norman

HDFC Bank chairman Atanu Chakraborty on Friday told shareholders at the company's annual general meeting (AGM) that the private sector lender will benefit from the low cost of funds that a bank traditionally enjoys. «As a consequence of this merger, the larger Balance Sheet of the Bank would offer to the national economy possibilities of higher credit growth, a larger bouquet of financial products and higher flows into affordable housing, agriculture, MSME etc,» Chakraborty said.

(Reuters) -Air Canada reported a better than expected quarterly profit on Friday compared with a year-ago loss and is adding capacity as the country's largest airline cashes in on strong international travel demand.

Arvind Kejriwal and the party's Rajya Sabha MP Sanjay Singh on their allegedly defamatory statements against Gujarat University. Justice Sameer Dave refused a stay on the application moved by the legal team of Arvind Kejriwal and Sanjay Singh in the Gujarat High Court. The hearing will resume in the lower court as a summons had been issued to Kejriwal and Singh for Friday.

Reserve Bank if India (RBI) revise inflation forecast? Headline inflation projection for Q2 of 2023-24 has been revised higher substantially, primarily due to the price shock from vegetables. Since the last policy in June, inflationary pressures have increased, with headline Consumer Price Index (CPI)-based inflation rising from 4.3% in May to 4.8% in June. Economists are expecting vegetables prices to push headline CPI inflation to above 6% year-on-year (YoY) in July.

Sant Ravidas in poll-bound Madhya Pradesh's Sagar district, where he will also address a public meeting, a state BJP minister said on Friday. This will be PM's second visit to the Bharatiya Janata Party-ruled state, where assembly polls are due by the year-end, in just over a month. On July 1, Modi interacted with tribal leaders, women who were members of self-help groups and young football players at Pakaria village in Shahdol district.

By Deep Kaushik Vakil

(Reuters) -Singapore's Olam Group said on Friday it is targeting the IPO of its agricultural unit by the first half of 2024, and the commodity trader reported an 88.8% fall in first-half profit on lower crop yield from its almond orchards in Australia.