Country Financial News
03.08 / 08:59
03.08 / 08:59
COST
UPS
Target
Manufacturing
Enterprise
country
open
After Sanghi Industries, Ambuja keeping its options open on acquiring other cement companies: Karan Adani
Karan Adani, Director, Ambuja Cements, says: “ We keep looking at opportunities. If it comes at the right price which is very strategic, we will keep our options open.” Coming to Sanghi Industries, with its location advantage and unique marine infrastructure, Adani says “the idea is that we want to make its Kachchh plant the lowest cost clinker production plant in the country and the target is to manufacture clinker at around Rs 1,500-1,600 per tonne.”Ambuja Cements has acquired a majority stake in cement maker Sanghi Industries at an enterprise value of Rs 5,000 crore. Can you explain the logic behind this move?First of all, there are a lot of location advantages in this transaction.
03.08 / 08:59
BLOCK
Aviat
Airlines
RIO
country
No political favours, says Joyce – and Chairman’s Lounge list stays secret
Alan Joyce on Thursday dismissed as “nonsense” the suggestion Qantas exchanges benefits for favours from the Albanese government, and declined to comment on who gets access to the airline’s coveted Chairman’s Lounge.
03.08 / 08:59
COST
Target
Dash
show
country
cover
Top farmer cottons on with green hydrogen, rare earths
Australia’s reigning cotton grower of the year sees a European Union crackdown on the textile industry’s carbon footprint as a money-making opportunity and is moving to build a renewable ammonia and green hydrogen plant on one of his farms with help from the NSW government.
03.08 / 08:57
Mobile
show
country
Discounts
Discounts, sales, or BOGO: which is your top money-saving tactic?
As high inflation eats into purchasing power, over nine in 10 urban Indians (93%) say they intend to save money with smart shopping tactics in the coming year, a survey by YouGov found. The top tactics Indians wish to employ are comparing online and in-store prices (45%), shopping with discount codes (45%), and waiting for items to come on sale (42%). This is in line with global trends, where a similar share of respondents (93%) is looking at money-saving tactics, the survey shows.
03.08 / 08:57
UPS
Provident
Booking
Hyundai
country
exclusive
Discounts
Hyundai i20, Grand i10 Nios, Aura, Alcazar, more get discounts up to ₹2 lakh this August
Hyundai Motor India has introduced a special offer on selected car models, including i20, i20 N Line, Grand i10 Nios, Aura, Alcazar, and Kona Electric, reported HT Auto. As per the publication, customers can avail benefits up to ₹2 lakh, which encompass cash discounts, exchange bonuses, and exclusive benefits for corporate and government employees. However, it is important to note that popular models such as Creta, Venue, and Verna are not included in this particular scheme.
03.08 / 08:57
UPS
Lowe's
Manufacturing
NIFTY
HAL
country
dividend
3 High Dividend Stocks Up More Than 30% in 2023
make money in stocks. There’s the popular way - capital gains (i.e. growth) and there’s the not-so-popular way - dividends (i.e.
03.08 / 07:49
UPS
Progressive
Action
Remark
country
concert
'Good Work': World Bank praises Yogi Adityanath govt's development work in six years
World Bank has praised the Yogi Adityanath-led Uttar Pradesh government for the its development efforts in the last six years. As per a ToI report, the 20-member World Bank team, led by its Executive Director Parameswara Iyer, recently held discussion with Chief Minister Yogi Adityanath on Wednesday, lauding the significant strides achieved by the state government in developmental initiatives over the past six years.
03.08 / 07:25
Digital
Cooper
Remark
country
Latin
Supply chain resilience, resource partnerships key for India-Latin America relations: Jaishankar
New Delhi: Supply chain diversification and resource partnerships are key pillars driving intensified engagement between India and Latin America, said external affairs minister S Jaishankar. “The pandemic has shown that today there is an urgent global need for more resilience and reliability of supply chains, whether it is energy, whether it is food or whether it is even consumer security," Jaishankar said, speaking at the CII India-LAC Conclave. “The international economy today needs multiple and redundant sourcing, it needs more diversified production and that is something where there are new opportunities for us," he added.
03.08 / 06:49
UPS
CEO
Strategy
country
Adani Ports posts 7% YoY jump in cargo volumes in July; Logistics CEO resigns
Adani Ports and Special Economic Zone Ltd, part of the Adani Group, said that it recorded bumper cargo volumes of 34 MMT in July this year--a 7% jump year-on-year (YoY). According to a statement on the stock exchange, APSEZ said that growth was observed across most ports, with containers over 23% and liquid & gas more than 27% in the previous month, respectively. During the initial four months of FY 2024 (April-July), APSEZ handled 135.4 MMT of total cargo--recorded 11% YoY growth, the company said.
03.08 / 06:49
Facebook
Action
Racing
performer
country
Watch: Somalia athlete in no hurry to finish 100m race, netizens react
In a recent sports event that garnered attention in Somalia, officials faced criticism for their selection of a novice 100-metre sprinter, Nasra Abubakar Ali, to represent the country at the World University Games in China. The young athlete, lacking any prior experience in top-level competitions, took nearly twice the time of the eventual winner to complete the race, finishing in 21.81 seconds. The sports minister, Mohamed Barre Mohamud, issued an apology for the embarrassment caused by the selection, acknowledging that it was not a true representation of the Somali people.
03.08 / 06:47
UPS
Manufacturing
CEO
Parke
Tesla
country
Leases
Ft
Tesla leases 5,850 sq ft office space in Pune amidst rising scrutiny of Chinese EV makers
Tesla headed by Elon Musk, is on its way to India and has been making significant strides toward establishing a manufacturing facility. Following a meeting between Prime Minister Narendra Modi and the Tesla CEO during Modi's recent visit to the US, the EV maker has gone ahead with its plans for the manufacturing facility by signing a five-year lease for a 5,850 sq ft office space in Pune.
03.08 / 06:31
UPS
Booking
Chase
show
country
gone
India will outperform and here are 3 sectors where weightage has gone up: Devina Mehra
Devina Mehra, Chairperson & MD, First Global, says “in March end, I had said this is the time to get in, when the index was sub 17,000. It has obviously run up from there. There might be a pause, there might be some correction here and there, but the broad trend still remains.
03.08 / 05:35
UPS
Target
Action
performer
country
Jewellery
We will deliver between 12% to 13% jewellery EBIT for the full year: Ashok Sonthalia, Titan
«We have been quite satisfied with the quarter one performance and it was as per our plan. Quarter one generally is slightly weaker from the margin profile because Akshaya Tritiya which is more gold-led quarter and studded activation actually happens in quarter two,» says Ashok Sonthalia, CFO, Titan.
03.08 / 05:03
COST
UPS
Lowe's
Manufacturing
show
country
NOT
World's biggest abortion pill maker has a dark India link it might not be able to shake
abortion pills, serving women from India to Mexico. The Washington DC-based nonprofit says it provides high-quality medicines, condoms and other reproductive health products at affordable prices. But almost one-fifth of the 30 million products DKT distributes annually for abortions and postpartum hemorrhage prevention come from an Indian company with a record of making substandard medicine.
03.08 / 04:43
UPS
Extreme
MSCI
track
country
India upgraded to No.1 slot in Morgan Stanley's emerging markets list
Morgan Stanley on Thursday upgraded Indian stocks to overweight rating and ranked India as the No. 1 market in its basket of Asian emerging markets ex-Japan. Beating the likes of Korea and UAE, India jumped 5 places in Morgan Stanley's list on the back of a structural uptrend, secular leadership and relative valuations being less extreme than in October.
03.08 / 04:43
UPS
Platform
Strategy
Fitch
Coherent
country
Standard
Standard Chartered Bank
NOT
I would not sell US equities because of Fitch downgrade: Steve Englander, Standard Chartered Bank
Steve Englander, Global Head of G10 FX Research and North America Macro Strategy, Standard Chartered Bank, says the “equity markets were overenthusiastic over the last couple of months. I do not think that the Fitch reason is any reason for them to sell off. But if we are right that the US is going into a moderate recession, it is actually going to be good for risk appetite because it will lower the discount factor in all asset markets.
03.08 / 04:31
Waters
Fitch
country
What will be the ratings cut impact on US markets? Arnab Das explains
«Look, I think it is going be a little bit of the turbulence that we are seeing for the very short term. But it is going to pass under the water, like water under the bridge, because it is not really a credit risk problem that the US has,» says Arnab Das, EMEA, Invesco.What do you think the ratings cut impact will have on US markets and, of course, on emerging markets? Look, I think it is going be a little bit of the turbulence that we are seeing for the very short term. But it is going to pass under the water, like water under the bridge, because it is not really a credit risk problem that the US has.
03.08 / 04:09
COST
Fitch
country
NOT
US debt is still a buy, not a sell: Manish Singh
«What it has done, it has shone a light on the fiscal deficit position, which is true because I think if you are going to run a fiscal deficit of 6% in peacetime or economic expansion time, then that does not bode really well,» says Manish Singh, Crossbridge Capital.What do you think because there has been a bit of dismissal of the new ratings downgrade by the Biden administration as well, some have called it out-dated that it defies reality. Do you hold the same opinion as well?I do. I think the timing is just plain dubious because if anything, a lot of this thing has been sorted out over the last few months.
03.08 / 04:09
UPS
Provident
Digital
Platform
Enterprise
country
Kenya suspends Worldcoin crypto over privacy concerns
crypto project that relies on an eye scan to verify a user's identity, citing concerns about data protection. Worldcoin, set up by OpenAI chief executive Sam Altman, began operating in June in Germany and provides users with a private digital identity — a "World ID" — after they get their eye's unique iris pattern scanned. The project, according to its founders, aims to solve one of the main challenges facing the crypto industry that largely relies on pseudonyms to operate, leaving it vulnerable to spam bots and scams. Users who registered with the project in Kenya were offered 25 free Worldcoin tokens worth about 7,000 shillings ($45), drawing thousands of people to multiple sign-up points in the capital Nairobi.
03.08 / 04:09
COST
UPS
Fitch
show
country
Fitch move spotlights US debt risk as recession fear fades
Fitch Ratings to downgrade US government credit has put a renewed focus on the nation’s debt trajectory, just when the world’s largest economy is shaking off forecasts for a looming recession. In the past week, Chairman Jerome Powell said the Federal Reserve is no longer expecting a US downturn, even after the most aggressive interest rate hikes in decades, and economists at Bank of America Corp. also scrapped their recession forecast.
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