Financial Financial News

In a decisive response to the recent terrorist attack on Israel, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) designated ten individuals and entities linked to the Hamas terrorist organization. This action, aimed at crippling the financial structures supporting Hamas, encompasses individuals and operations not only in the Gaza Strip but extends to Sudan, Türkiye, Algeria, and Qatar.

JM Financial has initiated coverage on the wire and cable manufacturer RR Kabel with a ‘buy’ call. The brokerage is bullish on the stock on the back of its industry-leading revenue growth track record, strong outlook, industry tailwinds, and healthy performance. It has a target price of ₹1,650 for the stock, implying an upside of over 21 percent in 12 months.

Every month, on the first, new financial rules are announced which are to be followed. Hence, on November 1 also there are several guidelines which will come into effect. These guidelines may or may not be new or updated and they are applicable on a common person’s life. 

Geojit Financial Services jumped 14.5% to Rs 68.9 in Wednesday's trade on BSE as the company reported a 58% YoY rise in second-quarter profit at Rs 38 crore as against Rs 24 crore a year earlier. In the quarter, the consolidated revenue stood at Rs 145 crore, up 29% as against Rs 112 crore in the corresponding period of the preceding fiscal. Earnings before investment, tax, depreciation, and amortisation (EBITDA) for the quarter jumped 44% YoY to Rs 59 crore in Q2 FY24 as compared to Rs 41 crore in Q2 FY23. For the first half, revenue increased 22% to Rs 261 crore from Rs 214 crore and it earned a profit after tax of Rs 60 crore during the period, up 30% from Rs 46 crore a year ago. At 1.14 p.m., the scrip was trading 13% higher at Rs 68 on BSE. On a year-to-date basis, the stock has also risen over 40%, while it has declined over 15% in the past 2 years. Technically, the stock's day RSI (14) is at 63.7.

Preparations are in full swing for Karwa Chauth 2023. It is a special occasion dedicated to married women, who usually fast, from sunrise to moonrise, for the good health and longevity of their husbands. They don't drink water, eat food throughout the day, and open the fast after offering Arghaya to the Moon. Husbands can make their wives feel special by gifting them financial security this Karwa Chauth.

Elon Musk’s takeover of Twitter (now known as X) has taken an intriguing twist. The serial entrepreneur plans to add a suite of banking products to the social network next year, as he attempts to build a US “super app” with financial services as its core.

The Financial Conduct Authority (FCA) in the UK has raised concerns about Bitfinex, a cryptocurrency exchange, that it may be promoting financial services or products without the FCA’s permission.

Finance Commission Chairman N K Singh on Tuesday said the health of rural development institutions, like panchayati raj, remain fragile with financial viability eluding them. Speaking at the '2nd Rohini Nayyar award for outstanding contribution to rural development by an individual 40 years or under', Singh said the ability of the institutions for projectisation and viability of technical assistance for project preparation remains mired in technical incompetence.

China’s leaders are expected to search for ways to mend the country's fractured property market, create jobs for millions of unemployed youths and spur faster growth in a meeting that reportedly began Monday in Beijing

Investing.com — Big Four accounting firm PwC has tapped the head of its international advisory business, Mohamed Kande, as its next chair, according to a report in the Financial Times.

Incoming investment capital and immigration will lead to a major economic shift that will turn El Salvador into a financial center, argued Gabor Gurbacs, strategy adviser of investment management giant VanEck.

Plenty of action at Diverger, the ASX-listed licensee services group which had already agreed to be acquired by rival financial services outfit, Count Limited. That deal was for around $1.14 per share in cash and scrip.

Mahindra & Mahindra Financial Services, (MMFS), part of the Mahindra Group, slumped 14.40% to reach 237.35 apiece in early trade on Monday, a level not seen since April 2023, as the investors reacted negatively to the company's Q2FY24 performance, which was released post-market hours on Friday. At 10:45 AM, the stock was trading with a drop of 9.45% at ₹251.30.

₹17.8 lakh crore over the course of six sessions as the total market capitalisation of the companies listed on the BSE dropped from ₹323.8 lakh crore on Tuesday, October 17, to approximately ₹306 lakh crore. The market is being held back by a number of headwinds.

Before FIRE Underestimating expenses Have a realistic understanding of expenses in retirement, including healthcare, housing and other costs. “Inflation levels, especially for critical illness and children’s education, have been scaling up over the past few years.

debt that the US government is generating. The country has added nearly $600 billion debt in the last month. It adds $1 trillion debt every 45-60 days.

financial independence, retire early) movement. The FIRE model originated in 1992 with Your Money or Your Life, a book by Vicki Robin and Joe Dominguez, which talked about the pursuit of financial independence to gain control over one’s life. In 1994, Financial Planner William Bengen introduced the 4% rule, which proposed that one could safely withdraw 4% of one’s investment portfolio annually in retirement without depleting one’s savings. This became another core element of FIRE planning.

These days, many of us use mobile banking and financial apps to make transactions for regular expenses. We give and receive money through apps and compare financial products and even borrow money. However, is it imperative to be aware of the suspicious players in the market who are there to deceive you and steal your information.

On October 13, 2023, California Governor Gavin Newsom signed Assembly Bill 39, enacting the Digital Financial Assets Law, aimed at establishing a comprehensive regulatory framework for cryptocurrency activities in the state. Set to be effective from July 1, 2025, the law mandates the Department of Financial Protection and Innovation (DFPI) to devise a stringent regulatory structure encompassing licensure and enforcement mechanisms for certain cryptocurrency operations.

Rashad Bilal and Troy Millings are among a growing class of financial influencers who want to help people be smarter about money.

New Delhi: The coal ministry on Saturday said it has requested the Department of Financial Services (DFS) to consider classifying coal under infrastructure sector, a move which will ensure financing of commercial coal mines. This reclassification would allow banks and financial institutions to formulate policies more effectively to meet the increasing requirements of the coal sector in a time-bound manner, the ministry said while noting that coal is likely to remain a primary source of energy in the foreseeable future.