Election Financial News

Bihar): Rashtriya Janata Dal leader Tejashwi Yadav on Friday said that RJD is the only party that has neither «compromised nor kneeled» before the Bharatiya Janata Party. RJD celebrated its 28th foundation day on Friday Tejashwi Yadav said that the party's fight is for those who are weak and deprived. «Those from Janata Dal (U) compromised with their ideology due to their greed for power and allied with the BJP. Rashtriya Janata Dal is the only party that has neither compromised nor kneeled before the BJP. Being in power is not the biggest thing. Our fight is for those who are weak and deprived,» Tejashwi said.

Estonia’s ruling center-right Reform Party has chosen Climate Minister Kristen Michal to replace outgoing leader Kaja Kallas as prime minister of the Baltic country

Joe Biden who were rooting for him these elections, are going through the same feeling you would go through while investing in a shaky bank. After the reigning President' dismal performance in the US Presidential Debate against a tough adversary, Donald Trump, many influential politicians, pollsters and analysts have called for Biden's resignation from the poll race.

French President Emmanuel Macron's decision to align with the Leftist New Popular Front (NFP), that emerged as the shock winner of the French parliamentary elections held on Sunday, has now instilled a fear among the wealthy bracket of France, who are dreading the return of wealth taxes in the country.

Ajay Vora, Executive V-P & Head-Equities, Nuvama Asset Management, says they are playing two broad themes. On the consumption side, both at the domestic level as well as the exporters to the overseas market of the household goods looks interesting. Within domestic also, the consumption should ideally now pick up because if you look at segments like apparel, vacations, and the whole hospitality segment – I sense that demand is still very robust over there. They are also playing the infra theme through cement as a sector because we believe that with the consolidation happening there will be a decent price discipline which will result in higher profitability going forward. How are you dissecting the market construct because the kind of move that one has seen since the election results have been parabolic and now you have another event, the budget in just about two weeks. Ajay Vora: Broadly, we have been constructive on the markets throughout last year. Although there were some hiccups in between, I think till the time the earnings growth profile was pretty strong, I think that there is very little downside to the markets and that is why from the election outcome day also we have seen a very sharp rally from the lows.

construction companies in the June 2024 quarter is expected to remain muted due to delay in obtaining clearances related to acquisition of land parcels, severe heat wave across various parts of the country, and slack in construction activities amid the general elections held during the quarter. Revenue of these companies is expected to grow by 2-7% year-on-year while net profit may increase by 3-10%. In the year-ago quarter, these companies had reported a strong profit growth of 33-53% while revenue had grown by 2-33%. In FY24, revenue and profit had increased in the range of 9-34% and 9-69% respectively. According to the data shared by the Ministry of Road Transport and Highways (MoRTH), the construction of national highways fell by 12% year-on-year to 1,288 km in the first two months of FY25. This fall was largely because of weak awarding of projects. Historically it has been observed that the awarding of road projects slows down when there are general elections in a fiscal. A weak order flow coupled with a slow pace of project execution will culminate into muted revenue and profit growth for the sector.

Diya Kumari today presented the state budget in which she made four big announcements to promote solar energy in the state. Among the announcements include Energy Express Home Reforms. Besides, the state is planning to create model solar village in each district of the state. The FM has also proposed a plan to build 2 MW decentralised solar plant.

Kamala Harris as a potential replacement. She has remained mum on this issue and has fully extended her support to Joe Biden. The New York Times has reported that the VP is actively considering the prospects of gunning for the top position and is also discussing the possible names of those who can be her running mate and who will contest the Vice-Presidential election. The candidate will have to be white man from a swing state who can help the party garner the required votes.

An important person in the government requested me to write about how the subsidy from Union budgets for second-class AC train seats in India has grown since 2014, given that these fares haven’t been adjusted for rising fuel costs. I haven’t managed to figure out if there is a subsidy on these fares, let alone how fast it may be growing. Happy to be corrected, but it seems that the outgo towards this subsidy and the figures needed for computing it are not being reported in the Union Budget.

Jharkhand chief minister Hemant Soren will seek a trust vote for his government during the special one-day assembly session on Monday. Sources told ET that a Cabinet expansion would take place once the government wins the trust vote. At present, Jharkhand assembly has 76 MLAs after five MLAs resigned from their seats. These five MLAs contested the Lok Sabha elections and four of them won. JMM MLA from Jama, Sita Soren, had quit the party to contest the Lok Sabha poll on a BJP ticket from Dumka but she lost the election. Joba Manjhi and Nalin Soren (JMM) and Dulu Mahato and Manish Jaiswal (BJP) are now Lok Sabha members.

INDIA bloc allies are working to consolidate gains by scoring impressively in the upcoming assembly polls in Maharashtra, Jharkhand and Haryana. Gauging that the electoral outcome in these three states headed for polls in September-October could have political implications even beyond them, Congress and its allies are working on strategies to get a head start besides firming up their internal unity. This even as opposition camps are expecting and preparing for the much-awaited elections in Jammu and Kashmir around the same time.

Leaders across Europe have reacted with relief mixed with concern to the result of the French legislative election

Joe Biden defended his performance in the first US Presidential Debate and said that he had nearly fell asleep after undertaking foreign trips. He said that he needed some rest before the debate but could not afford to take it. The 81-year-old president faces opposition from his own party members who have asked him to step down in view of his disastrous performance in the debate. What is not known is that the president had 13 days to take rest after his visit to Italy to attend the G-7 summit.

According to a trading update published today (10 July), the asset manager's net outflows fell to £923m in the three months ended 30 June, down from £1.6bn in the same period last year.  The vast majority of outflows – £772m – came from the UK retail funds and MPS channel, followed by institutional accounts and funds – £145m. The market and investment performance of £139m during the period failed to offset the outflows, and the firm's assets under management fell 2.8% to £27bn.    Liontrust profits sink 23% as AUM continues to fall Following Labour's landslide win at the gene...

Britain’s new Treasury chief says the Labour government will make stimulating economic growth its mission while limiting bureaucracy to allow for easier investments

Democrats are in a panic. President Biden’s disastrous debate performance has members of his own party debating whether and how to move him off the ticket. The more important question might be when.

Populist Budget Chances: Finance Minister Nirmala Sitharaman will be presenting her seventh full budget on July 23. Her five budgets have been marked with fiscal prudence as well as aggressive capital expenditure and an emphasis on making India Atmanirbhar and boost manufacturing. The interim budget Sitharaman presented in February surprised many for its lack of populist proposals which were expected since it was a pre-poll budget. But between the interim budget and the upcoming full budget, the situation has changed drastically. The BJP fell short of majority in the Lok Sabha elections and its NDA government is propped up by its allies, M. Chandrababu Naidu's TDP and Nitish Kumar's JD(U). After the results, there was speculation that both the allies will extract their pound of flesh for supporting the government by asking for key ministries and the speaker's post. But none of that happened. On the contrary, these allies expressed their unconditional support for the government. However, now there is speculation that the TDP and the JD(U) would want Sitharaman to extend a favorable treatment to their states in the budget. Many think Sitharaman has the tough task to balance fiscal discipline and growth with the excessive demands of these allies.

dollar remained on the back foot on Wednesday after dovish comments from Federal Reserve Chair Jerome Powell sent U.S. bond yields lower, overshadowing a strong domestic jobs report. The euro held firm, helped by a stubbornly high local inflation reading on Tuesday. Sterling was steady ahead of Thursday's U.K. election.

Iranians turned out in higher numbers than in previous votes to elect a reformist president who ran on a platform of re-engaging with the West and loosening the country’s strict moral codes for women. The country’s liberal voters, confronted with a stark choice between a cautious reformer and a tough hard-liner, shook off some of the disillusionment that had led to very low turnout in the initial presidential vote a week ago and turned out to the polls for a runoff that put the first reform candidate in office in two decades.

British voters are picking a new government in a parliamentary election Thursday that is widely expected to bring the opposition Labour Party to power

Engineer Rashid, was elected from Baramulla seat as an independent candidate defeating National Conference leader Omar Abdullah in the recent Lok Sabha polls. He was arrested in a 2017 Jammu and Kashmir terror funding case. Rashid had moved the court seeking interim bail, or custody parole in the alternative, to take oath and perform his parliamentary functions.