FIVE Financial News

Funders’ requirements have eroded the authenticity and rigour of India’s NGO sector, making them more ‘fake and flaky.’ I described this phenomenon in my last column; in this piece, I will explore one of its aspects in greater detail. Which is the push for scale—the demand by funders for greater numbers, be it in terms of geographical coverage or the count of beneficiaries. Everyone wants more people to benefit— not just funders, but also NGOs, other stakeholders involved and communities.

Technocraft Industries announced a Rs 130 crore share buyback at a price of Rs 4,500 on Tuesday. The record date for this buyback has been set for August 27. Following the announcement, the company’s shares surged by 10% to a day's high of Rs 3,616 on the BSE today. The buyback price represents a premium of nearly 38% over Tuesday’s closing price and will be conducted through a tender offer route.

SpaceX is aiming to break new barriers in polar exploration with the first manned space mission over the Earth's poles — a private flight commanded by a crypto entrepreneur later this year, the company said Tuesday. The mission, dubbed «Fram2» after a 19th century polar expedition schooner, is due to last between three to five days, and was purchased by Chun Wang, a wealthy bitcoin pioneer who founded f2pool and stakefish, for an undisclosed amount. He will be joined by three polar experts: Norwegian filmmaker Jannicke Mikkelsen, German robotics researcher Rabea Rogge, and Australian polar adventurer Eric Philips.

salt and sugar brands, whether packaged or unpackaged, contain microplastics, according to a study published by Toxics Link, an environmental research organization. The study, titled "Microplastics in Salt and Sugar," examined 10 types of salt and five types of sugar sourced from online and local markets. The findings reveal a pervasive presence of microplastics across all samples tested, a PTI report stated.

Bhargav Buddhadev, Fund Manager, Ambit Asset Management, warns that few sectors within capex-oriented themes could see selling pressure. “Sectors like roads, railways, defense could see selling pressure given that the government in the recent budget has significantly cut down the budget allocations across these sectors, and in general as well. The Government’s capex budget expenditure, which saw a CAGR of ~12% over FY20-24 reduced to ~9% in FY25 budget estimate,” he says. Edited excerpts from a chat: FIIs have been the biggest sellers in the Indian market in the last few days given all the worries related to recession, reverse carry trade of yen, and other global factors. By when do you think we can start seeing a reversal as far as FII mood is concerned? Bhargav Buddhadev: Earnings should be the biggest driver for FIIs to start re-looking at India.

Pakistan-Bangladesh Test series has generated a lot of buzz. With ticket prices starting as low as PKR 50 or Rs 15, some netizens are saying that Pakistan Cricket Board should have distributed tickets for free, instead of pricing it at the rate of a samosa. This two-match Test series is a key fixture in the ICC World Test Championship 2023-25. The series kicks off with the first Test at the Rawalpindi Cricket Stadium (RCS) from August 21-25. The second Test will be held at the National Bank Stadium (NBS) in Karachi from August 30 to September 3.

Ameriprise has extended its advisory network yet again as another advisor team joins the broker-dealer from UBS, this time in the Lone Star State.

Netflix's beloved romantic comedy series Emily in Paris. The much-anticipated Emily in Paris Season 4 is set to premiere this week, bringing with it a fresh batch of episodes that promise to reignite the charm, drama, and fashionable escapades that have made the show a global sensation. As viewers prepare to dive back into the world of Emily Cooper, the ex-pat marketing executive navigating life in the City of Light, excitement is building for what is expected to be one of the most thrilling seasons yet, as per a report by Netflix Life.

Many people want to leave their mark on history, but scratching your initials into ancient structures at a UNESCO World Heritage Site isn’t the wisest way to do it.

Premier League rarely stands still. For the 2024-25 season starting on Friday, there are five newly hired managers, around $1.6 billion worth of new players (and counting), new offside technology, updated financial regulations and a tweaked match schedule. COACHING CHANGES

inflation gauge declined below the mandated 4% target for the first time in five years, with economists attributing the fall to a statistical base effect and might not indicate a durable victory against sticky prices just yet. Most of the experts that ET spoke with said rate cuts could be pushed to the next fiscal year. In the recently concluded monetary policy review, central bank governor Shaktikanta Das maintained that future interest rate decisions will depend on food price movements and that it cannot overlook inflation pressures.

The head of Bangladesh’s interim government says the high-profile resignations of authorities close to ousted Prime Minister Sheikh Hasina are legal after student leaders who organized protests against Hasina’s government issued ultimatums for them to ...

Essar Oil and Gas Exploration and Production will invest up to ₹3,000 crore on its flagship coal bed methane (CBM) block in Raniganj, West Bengal to raise gas production, a senior company executive said. «We are determined to raise our contribution to India's overall gas output to 5% in the next five years from 1% currently. We plan to invest around ₹3,000 crore to reach this target,» said Pankaj Kalra, CEO of Essar Oil and Gas Exploration and Production. Kalra added that the company has an acreage of 500 sq km, of which it has only harnessed 70 sq km. «So over 80% is still to be harnessed.»

Tesla CEO Elon Musk wrote on Twitter in 2016 inviting Indians to preorder Tesla Model 3s

Federal prosecutors have charged two former Los Angeles County sheriff's deputies and two former foreign military officials with threatening a Chinese national and his family with violence and deportation during a sham raid at his Orange County home

Himanta Biswa Sarma said that in Assam there will be 38 CNG Stations and steps will be taken to increase the numbers in the near future. Sarma virtually inaugurated commercial operations of five Compressed Natural Gas (CNG) stations at a programme held in Dispur. Purba Bharati Gas Private Limited which is a joint venture company of Assam Gas Company Limited, Oil India Limited and Gail Gas Limited has developed the CNG stations in Ulubari, Sonapur, Lalmati, Kahilipara, and Azara. The name of the stations are 1. COCO (Company Owned Company Operated) CNG Station, Ulubari. 2. HP Sonapur, Sonapur. 3. HKS Service Station, Lalmati. 4. Bungrung Service Station, Kahilipara. 5. Ramani Service Station, Azara.

Canada Pension Plan Investment Board has put a portfolio of distressed Spanish loans up for sale, as the fund works to reduce its exposure to the country built up during the financial crisis last decade.

Euphoria in the stock market has prompted scores of new investors to scour the internet for stock tips, giving rise to a host of illegal stock advisory channels. Despite the booming demand, only 1,371 entities are officially registered with Sebi as research analysts (RAs). In response, the markets regulator has proposed relaxing the rules for becoming an RA.

Air India Express has launched six new daily direct flights in a single day, said a press release on Tuesday. The Tata-owned Air India subsidiary airlines will be flying five new routes as a part of this launch which include Guwahati-Jaipur, exclusive to Air India Express. The new flights are operating on the Chennai-Bhubaneswar, Chennai-Bagdogra, Chennai-Thiruvananthapuram, Kolkata-Varanasi, Kolkata-Guwahati, and Guwahati-Jaipur routes. Moreover, to accommodate growing demand on the Chennai-Thiruvananthapuram route, which was previously served by two weekly flights, the airline has now added an extra daily service, increasing the total to nine flights per week. Air India Express now connects Chennai directly to 10 destinations which include Bagdogra, Bengaluru, Bhubaneswar, Guwahati, Hyderabad, Kolkata, and Thiruvananthapuram domestically, and Dammam, Kuwait, and Singapore internationally.

European vacations are gaining traction among Indians. As per a report by the European Commission, Schengen visa applications from Indian nationals surged by 43 per cent in 2023 as compared to 2022. India maintained the third position in Schengen visa applications for 2023, with a total of 9,66,687 filings. The European Commission last month introduced a new visa «cascade» regime for Indian nationals seeking Schengen visas, allowing for more straightforward access to multiple entry visas with extended validity periods.