COST Financial News

Reliance Industries and Brookfield Asset Management have entered into an initial agreement with the aim of exploring opportunities for manufacturing renewable energy and decarbonization equipment within Australia. The Memorandum of Understanding (MoU) seeks to accelerate as well as de-risk Australia's energy transition by enabling local production of clean energy equipment, including PV modules, long duration battery storage, and wind energy components, the Indian conglomerate said in a press statement.

price revision has been made for commercial LPG by oil marketing companies, while also keeping domestic cooking gas rates unchanged, according to a source. The monthly revisions for both commercial and domestic LPG gas cylinders occur on the first day of every month, with new rates being implemented from 1st June. The cost of 19 KG commercial LPG gas cylinders has undergone a substantial cut of Rs 99.75, effective from August 1st.

global financial crisis, rich-world central banks have bought trillions of dollars’ worth of bonds in an attempt to stimulate their economies. Now the bill is coming due. At the last count America’s Federal Reserve had a paper loss of $911bn on its $8.2trn securities portfolio.

₹98,508.26. Kolkata, another major metro, has also witnessed an upward trend in ATF prices, with rates soaring to ₹1,07,383.08 per kilo-litre. Meanwhile, Mumbai, the financial hub of India, recorded a price hike, with ATF now priced at ₹92,124.13 per kilo-litre.

Maruti Suzuki: Maruti Suzuki India, the largest passenger car manufacturer in the country, reported a standalone net profit of ₹2,485.1 crore in the quarter ended June 2023. The company’s net profit jumped by a robust 145% as compared to ₹1,012.8 crore in the same quarter last year. This was on account of larger sales volume, improved realization, cost reduction efforts and higher non-operating income.

Sebi), aimed at improving corporate governance and investor protection have led to an increased compliance burden and associated costs for listed companies, according to India Inc. Companies are struggling to prepare themselves for the new regulations, some of which are in place while others will take effect in the next few months, executives said. The new rules include confirmation or denial of market rumours, disclosing business contracts to family settlements, matters concerning senior employees, new environmental, social and governance regulations, communicating actions taken by any authorities, the companies say.

Kasowitz Benson Torres’ Marc Kasowitz details the ongoing legal battle between Yellow and the Teamsters Union on ‘The Claman Countdown.’

Lynas has hadits US government funding more than doubled as the Biden administration accelerates its mission to secure supplies of rare earths.

Treasury is set this week to begin a ramp-up in issuance of longer-dated securities that's likely to stretch into next year, forced by a rapidly deteriorating budget deficit and soaring interest rates. For the first time since early 2021, the Treasury will boost its so-called quarterly refunding of longer-term Treasuries, to $102 billion from $96 billion, the consensus among dealers suggests. While down from the record levels hit during the Covid-19 crisis, that's well above pre-pandemic levels.

Two pipeline operators have agreed to pay a $12.5 million civil penalty related to crude oil spills in 2015 in Montana and in 2016 in North Dakota

Cody Rhodes will soon be aired. The 120-minute Paramount documentary "American Nightmare: Becoming Cody Rhodes" has been produced by Vincent K. McMahon, Kevin Dunn, Cody Rhodes, and Chris Kaiser, Chris Chambers, Ben Houser.

NEW DELHI : Bharti Airtel Ltd prepaid ₹8,024 crore ahead of schedule to clear part of its deferred liabilities for the spectrum acquired in 2015 as part of a plan to save costs. “The said instalments had an interest rate of 10% and have been prepaid by Airtel, leveraging much lower cost financing available to it," the telco said in a statement on Monday, noting that the amount was paid to the department of telecommunications. Airtel continues to enjoy access to well-diversified sources of capital or financing, allowing it to have enhanced financial flexibility in its capital structure, including the optimized cost of financing using all opportunities for significant interest savings, like this prepayment, the carrier added.

Seven West Media chairman Kerry Stokes and his commercial director Bruce McWilliam will be forced to hand over thousands of their emails exchanged with Ben Roberts-Smith’s legal team as Nine pursues Seven West Media for the costs of the disgraced soldier’s failed defamation action.

Victoria will go it alone on its ban of natural gas in new homes from next year, with other state governments rejecting the move on Monday.

Supreme Court's observation that 'city after city is getting into bad shape' is spot on. From the sinking of Joshimath to the inundation of parts of New Delhi to flooding in cities and towns, it has been a story of urban unravelling. Fixing this situation will require planning that balances growth, ecological integrity and access to services and opportunities as the cornerstone of India's urban expansion.

₹4,073 crore. Ebitda margin expanded by 70 basis points to 10.6%, but recovery was slower-than-expected due to elevated raw material prices. In the near term, the management expects the overall demand scenario across segments to be positive.

Last week Prosus, one of the largest technology investors in the world, issued a statement on Byju’s. It said that since it first invested in Byju’s in 2018, the ed-tech company had grown considerably, but “its reporting and governance structures" haven’t evolved sufficiently. Byju’s is India’s most valuable unicorn, or a startup with a valuation of more than a billion dollars.

₹593 crore. This is mainly on account of stress from a certain customer pool acquired in 2019. While some may consider this as a prudent measure, investors are not particularly thrilled.

KARNAL/AMBALA/NEW DELHI : You were so thirsty that you came here to get drowned. We warned you, but you did not listen," quipped the residents of Nabiabad. The pun was directed at Tejraj Singh, a farmer in his mid-50s, who relocated to Nabiabad in 2019.

Richard Heart with raising more than $1 billion in three unregistered crypto asset offerings and defrauding investors out of $12.1 million to buy luxuries including a 555-carat black diamond. In a complaint filed in Brooklyn federal court, the SEC said Heart, also known as Richard Schueler, touted his Hex token, PulseX asset trading platform and PulseChain asset network on YouTube and other websites as pathways to «grandiose wealth.» The SEC said Heart often made superficial «tongue-in-cheek» disclaimers that his offerings were not securities but knew otherwise, as he touted that Hex was capable of 38% returns and «built to be the highest appreciating asset that has ever existed in the history of man.» The SEC accused Heart of spending investor funds on McLaren and Ferrari sports cars, four Rolex watches and «The Enigma,» which cost 3.16 million British pounds (then $4.28 million) at auction and was purportedly the world's largest black diamond.

Road tax or motor vehicle tax or VAHAN tax, or Parivahan tax, is an essential aspect of vehicle ownership in India. Under Section 39 of the Motor Vehicle Taxation Act 1988, every vehicle owner is mandated to pay a specific amount as road tax at the time of purchase of a new vehicle. This fund is used by the government to expand and maintain the infrastructure of the vast network of roads and provide basic amenities like streetlights and road signs. Funds collected are also spent on providing safety measures and emergency first aid in case a driver cannot evade on-road mishaps.