COST Financial News

18.07 / 02:21

COST Lowe's Waters Parke PM Modi to inaugurate Port Blair airport's new terminal building today, says ‘will ensure easier travel to…’

Narendra Modi will virtually inaugurate the new integrated terminal building of Veer Savarkar International Airport in Port Blair today. The new integrated terminal has been built at cost of around ₹710 crore and will be capable of handling 50 lakh passengers annually. In a tweet informing about the new integrated terminal, PM Modi wrote, “The new integrated terminal building at Veer Savarkar International Airport, Port Blair, will ensure easier travel to Andaman and Nicobar islands.

18.07 / 01:59

COST UPS MET Landmark Corning Deal Time Russia halts landmark deal that allowed Ukraine to export grain at time of growing hunger

Russia on Monday halted a breakthrough wartime deal that allowed grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat and high food prices have pushed more people into poverty.Kremlin spokesman Dmitry Peskov said the Black Sea Grain Initiative would be suspended until demands to get Russian food and fertilizer to the world are met. An attack Monday on a bridge connecting the Crimean Peninsula to Russia was not a factor in the decision, he said. «When the part of the Black Sea deal related to Russia is implemented, Russia will immediately return to the implementation of the deal,» Peskov said.

18.07 / 00:57

COST UPS Citi Target Aware Google Cash-strapped quick commerce startup Dunzo eyes $20 million more from Reliance Retail

Dunzo is seeking at least $20 million (about Rs 165 crore) more from Reliance Retail, its largest shareholder, after the cash-strapped quick commerce startup fell short of its target to raise $75 million by offering convertible notes, people aware of the discussions said. The Bengaluru-based firm could raise just about $45 million in April, as reported first by ET, with only Reliance Retail and Google subscribing to the convertible notes and its other shareholders staying away. This, the people said, has caused an adverse cash flow situation at the company.

18.07 / 00:57

COST UPS Target Coca-Cola India Inc likely to spend 20-25% more on advertising in the second half of 2023

Advertising and consumer promotion expenditure is expected to surge a record 20-25% year-on-year in the second half of 2023, spurred by factors such as the Cricket World Cup, a rainy summer that has led companies to postpone ad spends, and the festive season, said executives. Spending is expected to be led by sectors such as ecommerce, fast-moving consumer goods (FMCG), travel and hospitality, apparel and fashion, fintech, banking, retail and automobiles, they said.

18.07 / 00:57

COST Provident NIFTY surges HDFC Bank's Q1 net profit surges 30% on improved asset quality, higher core income

HDFC Bank Monday beat D-Street estimates to register a 30% on-year rise in its net profit for the June quarter, the last three-month period for which India's most-valued lender reported standalone performance, buttressed by lower provisions toward doubtful advances and higher core income. Profit climbed to ₹11,951.7 crore, beating estimates of ₹11,375.1 crore drawn from analysts polled by Bloomberg. The bank, which merged with its mortgage-lending parent HDFC from July 1, had posted profits of ₹9,196 crore in the same period last year.

18.07 / 00:57

COST UPS Provident TCS RAI IT firms eye fixed price projects to improve margins

Fixed-price projects allow better cost control and a greater ability to introduce automation in projects and expand margins. By contrast, ‘time and material’ control are directly linked to the number of people hard-locked to billable projects.

18.07 / 00:57

COST UPS Target VISA LTIMindtree’s Q1 net profit up 4% to Rs 1,152 crore, misses Street estimates

LTIMindtree, which now features in India’s top 50 stocks gauge after HDFC’s merger into the lender it spawned, Monday missed forecasts to report a 4% June-quarter profit growth in what the company described as a “challenging macroeconomic environment”, potentially denting the prospects of double-digit revenue growth in FY24. Net profit for the three months ended June was Rs 1,152.3 crore, compared with Rs 1,105 crore a year ago. Revenue came in at Rs 8,702.1 crore, up 13.8% year on year, which also missed estimates.

17.07 / 22:53

COST UPS BLOCK Action 9th Circuit denies bid by environmentalists and tribes to block Nevada lithium mine

The 9th U.S. Circuit Court of Appeals has denied the latest bid by conservationists and tribal leaders to block construction of a huge lithium mine already in the works along the Nevada-Oregon line

17.07 / 22:47

COST FIVE BLOCK Microsoft Deal Activision stake Warren Buffett's Berkshire Hathaway cuts Activision stake as Microsoft deal inches closer

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17.07 / 20:41

COST UPS Citi Provident BLOCK Ripple Why the real estate industry is closely watching the sale of two Vancouver office towers

An attempt to sell of a pair of office towers in downtown Vancouver is being carefully watched by the commercial real estate world, and not just because Amazon.com Inc. is one of the primary tenants.

17.07 / 20:41

COST UPS Cooper Gap Labrador Standard Posthaste: Canada's standard of living is falling behind the rest of the developed world

Good morning,

17.07 / 20:25

Blockchain COST Provident Platform Option Golteum (GLTM) - Providing a Safer and More Stable Option for Institutional Clients

Market volatility is one of the foremost reasons why institutional Web2 clients stay away from the crypto space. These clients believe that cryptocurrencies are too ‘unstable’ to venture into. Furthermore, those intending to integrate their Web2 operations into Web3 are always skeptical about such a move due to the issue of blockchain interoperability.

17.07 / 20:17

COST Progressive Platform Action US wants progress on reforms before hike in capital of development banks

multilateral development banks (MDBs) should be explored only after making further progress on reforms in the areas of their vision, incentive structures, operational approaches and financial capacity. Treasury secretary Janet Yellen also said the US is working with India to develop ways to lower the cost of capital and increase private investment to fast track its energy transition.

17.07 / 19:53

COST Provident Digital Cooper Progressive Platform Action inclusion India, US to work on MDBs, climate action, inclusion

GANDHINAGAR : India and the US have agreed to collaborate on a range of issues, including strengthening multilateral development banks (MDBs), promoting climate action, and facilitating energy transition, Union finance minister Nirmala Sitharaman said. After a meeting with US treasury secretary Janet Yellen at a G20 event on Monday, Sitharaman said the two countries would also work to smoothen the consensus on indebtedness of low- and middle-income countries and harness opportunities presented by crypto assets and digital public infrastructure for financial inclusion.

17.07 / 19:33

COST Citi Lowe's record high Homes selling near record high again as supply shortage worsens

ProChain President David Tawil explains why he predicts rate hikes are on the horizon and likely to stay high 'for a number of years.'

17.07 / 19:33

COST Citi Reuters Nov Goldman Sachs trims US recession odds next year to 20%

Wealth Enhancement Group senior vice president Nicole Webb discusses U.S. equity flows and overall markets on ‘Making Money.’

17.07 / 19:21

COST UPS Provident NOT Holding shares of subsidiary not liable to GST, says CBIC

goods and services tax (GST). The Central Board of Indirect Taxes and Customs (CBIC) Monday came up with a series of clarifications including on the much disputed Input service distributor (ISD) mechanism and the cross charge for internally generated services.

17.07 / 19:03

COST UPS Gap settlement IRDAI asks insurers to speed Up settlement of flood claims

IRDAI) has asked all general insurers and standalone health insurance firms to deploy resources and shrink response-time gaps after the worst deluge in decades battered north India, damaging property and claiming multiple lives in the Himalayan foothills and the Gangetic floodplains. The regulator has asked insurers to use all resources including engaging investigators, surveyors, and loss adjusters to speed up claims settlement.

17.07 / 19:03

COST Lowe's CEO Airlines Vistara kickstarts discussions to integrate staff with Air India

Vistara has started discussions on integrating its staff with Air India, even as the two Tata group carriers await regulatory approvals for merging with each other, its CEO said Monday. Vinod Kannan said there is unlikely to be any rationalisation of staff at Vistara because of this, but added not everyone may get the same position or function in Air India that they held in Vistara. Air India too is in the process of bringing various segments of its staff under one structure.

17.07 / 18:53

COST Lowe's Booking place Why shadow banks have a place despite HDFC, in 5 charts

₹500 crore, which it considers ‘systemically important’. This category includes several large government-backed companies (such as Power Finance Corporation), which account for 45% of assets in this category. Their government-owned status means they can raise funds at a lower cost, thus pulling down the cost of funds for the NBFC sector as a whole.

17.07 / 18:43

COST UPS Citi Resale property market booms amid price hikes, scarcity of ready homes

market supply, with prospective buyers increasingly viewing the resale market as a viable alternative. Factors contributing to this trend include a scarcity of newly constructed properties ready for immediate occupancy, a dearth of new developments, and escalating price hikes in major markets. «Recently, there has been a notable surge in the demand for resale residential properties across cities.

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