Department Financial News

heat wave engulfed Delhi, with temperatures peaking at 45.2 degrees Celsius on Monday. according to the India .Meteorological Department's Safdarjung observatory centre. The weather office, however, has forecasted some relief from June 19 onwards. Delhi remains under a 'red' alert through Tuesday, with temperatures expected to reach 45 degrees Celsius again. The Safdarjung observatory, the main weather station in Delhi, recorded a high of 45.2 degrees Celsius, which is 6.4 degrees above the seasonal average.

Secret Service agent was robbed at gunpoint in Tustin, California, during President Joe Biden's visit to the state for a high-profile fundraiser. The incident occurred on Saturday, June 15, shortly after 9:30 pm, while President Biden attended an event in Los Angeles. According to the US Secret Service, the agent was returning from work when he was accosted in a residential community in Tustin, about an hour's drive southeast of Los Angeles. The agent had his bag stolen at gunpoint but was not injured in the incident. The agent fired his gun during the confrontation, but it is unclear if anyone was shot.

semiconductors and critical minerals during the meeting of the India-US initiative on Critical and Emerging Technology (iCET), led by Indian National Security Adviser Ajit Doval and his US counterpart Jake Sullivan in New Delhi. India and the US Monday launched a new strategic semiconductors partnership to co-develop semiconductor design and manufacturing processes for precision-guided ammunition. «Launching a new strategic semiconductor partnership between General Atomics and 3rdiTech to co-develop semiconductor design and manufacturing for precision-guided ammunition and other national security-focused electronics platforms,» read the fact sheet issued by the US and India.

₹50,000-60,000 crore, the two people said. LIC, India’s biggest insurer and the largest investor in its stock market, owns assets worth over ₹51 trillion. “For the formal asset sale process, a fresh valuation work for the LIC-owned buildings may be carried out," said the second person.

advance tax collection in this financial year till June 15 surged 27.6% year-on-year to ₹1.48 lakh crore, signalling a robust economy and strong corporate performance, said people privy to the information. The amount included ₹1.14 lakh crore as corporate tax and ₹34,362 crore as personal income tax, they said. The advance tax collection between April 1 and June 15 last year was ₹1.16 lakh crore, comprising ₹92,172 crore as corporate tax and ₹23,513 crore as personal income tax.

Netflix is known for its amazing curation of action and thriller content, from across the globe, and across various timeline. Be it older-days classics, or some new-age thrillers, Netflix has got you entirely covered. However, some of the most-watched films across times, are now departing from this premium streaming platform and before they go, do take out some time, and binge them. We promise that you will not regret it!

Premier League fixtures for the forthcoming season have been revealed, making this one of the most thrilling moments of the summer. The 20 Premier League teams are now known, with Southampton joining Leicester City and Ipswich Town following their promotion.

A fleet of Russian warships, including a nuclear-powered submarine, has left Havana’s port after a five-day visit to Cuba following planned military drills in the Atlantic Ocean

In a shareholder notice issued on Friday (14 June), the NAIT board said it plans to take further action to prevent the trust's shares from trading at a significant discount to their prevailing net asset value. According to data from the Association of Investment Companies, the trust is running on an 11.5% discount. abrdn manager departs for Janus Henderson as North American Income swaps investment manager Under the conditional tender mechanism, NAIT's board will buy back up to 15% of its shares provided that, by 30 September 2027, either the NAV total return has not exceeded the to...

As part of the transition, Emma Mogford and Mahgul Ansari will replace Barnett as managers of the TM Tellworth UK Income and Growth fund, with the change effective from today (17 June). Mogford and Ansari currently manage the Premier Miton Monthly Income fund and the Premier Miton Optimum Income fund. Having joined the Premier Miton team in 2020, Mogford was awarded fund manager of the year (small to medium firms) at Investment Week's Women in Investment Awards 2023. Premier Miton shutters sustainable European fund after three years Mike O'Shea, CEO of Premier Miton, said: «Investo...

The Commerce Department on Tuesday reports retail sales data for May; grocery store giant Kroger reports its first-quarter results on Thursday, and on Friday the National Association of Realtors releases its monthly snapshot of existing U.S. home sales

The Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade

Bill Gates said he’s prepared to plow billions of dollars into a next-generation nuclear power plant project in Wyoming to meet growing US electricity needs.

India's monsoon has delivered 20 per cent less rain than normal this season, according to the weather department. This shortfall raises concerns for the country's critical agricultural sector, which relies heavily on monsoon rains. News agency Reuters reported that as per the Indian Meteorological Department, India has received 20 per cent less rainfall than normal since June 1. Almost all regions except for a few southern states have seen shortfalls and some northwestern states experiencing heat waves, the report said. «The monsoon's progress is stalled. It has weakened. But when it revives and becomes active, it can erase the rain deficit in a short burst,» an IMD official told Reuters.

India Meteorological Department (IMD) has issued a series of alerts, indicating the severity of the situation. Here's a comprehensive look at the factors contributing to Delhi's scorching heat and its impact on residents. Heatwave Alerts and Conditions The IMD has issued an orange alert for Monday and yellow alerts for Tuesday and Wednesday. The city has already endured eight consecutive days of heatwave conditions, including three particularly warm nights. A heatwave is officially declared when the maximum temperature exceeds 40 degrees Celsius and is at least 4.5 degrees above normal. A severe heatwave occurs if the maximum temperature exceeds 45 degrees Celsius or is 6.5 degrees or more above normal.

Akasa Air, India’s youngest airline, is on an expansion spree. The airline has commenced operations to Riyadh, the capital of the Kingdom of Saudi Arabia. Now, Akasa will operate daily flight operations between Mumbai and Ridyadh, the airline said in a statement. As per the company, the inaugural flight on June 15, 2024 departed from Chhatrapati Shivaji Maharaj International Airport in Mumbai. 

₹50 lakh have an additional task: declaring their assets. According to Income Tax (IT) laws, individual and Hindu Undivided Family (HUF) taxpayers with net income over ₹50 lakh must fill out details of their assets in Schedule AL (asset and liability) of ITR forms 2 or 3. This includes immovable property, financial assets, vehicles, art, sculptures, and corresponding liabilities.

Shiv Sena (UBT) MP Sanjay Raut on Monday said Shiv Sena leader Ravindra Waikar should be stopped from taking oath as the Lok Sabha member, amid a controversy after he won the Mumbai North West seat by a thin margin of 48 votes. The Vanrai police in Mumbai have registered a case against Waikar's brother-in-law for allegedly using a mobile phone at a counting centre in Goregaon (which is part of Waikar's constituency) on June 4, when results of the general elections were announced. Speaking to reporters here, Raut said, «Waikar's electoral victory is under suspicion, and a complaint has already been filed at the Vanrai police station in Mumbai. Due to the ongoing controversy surrounding the poll outcome, Waikar should be prevented from taking oath as a member of the Lok Sabha.»

Income tax return (ITR) filing deadline is approaching, with 31st July as the last date. Already in June 3rd week, most salaried taxpayers may have received Form 16 from their employers and those who have not received can expect it before the end of this month.

BJP and Aam Aadmi party (AAP) over the Delhi water crisis continued on Monday. The AAP Delhi government has blamed the BJP-ruled Haryana for not releasing water into the national capital, while BJP leaders in Delhi have organised a protest across the city. Delhi BJP chief Virendraa Sachdeva along with party workers held a ‘matki phod’ demonstration in Krishna Nagar, while BJP MP Manoj Tiwai held a protest in Mukherjee Nagar. «Delhi Jal Board is a department of Delhi government. What kind of Water Minister (of Delhi) is Atishi? Only to sell water to 'tanker mafias'? This is a very big question. That's why we are protesting with the people of Delhi,» said Tiwari.

The weather department had issued a red alert for Sunday, an orange alert for Monday, and a yellow alert for Tuesday and Wednesday. On Sunday, the maximum temperature at Safdarjung, Delhi's base station, reached 44.9 degrees Celsius, six degrees above normal. This was slightly higher than Saturday's maximum of 44.6 degrees Celsius. The minimum temperature recorded was 33.2 degrees Celsius, also six degrees above normal, marking it as the second warmest June day in the last six years.