FIVE Financial News

By David Lawder

₹400 crore to buy the three aircraft but is staring at further headwinds as the aircraft grounded for over four years will require 8-12 months to become airworthy and flown out of India. It will take some more time to convert the passenger planes to freighters, the company said. “...the more you wait, or the more the aircraft is on ground, it loses value and eventually you reach a point when the value of the assets is zero or sometimes even minus.

Wipro mandates work from office for three days a week The multi-millionaire also opined that Indian investors were increasingly looking at opportunities in Australia across finance, education, healthcare and minerals. His Chandigarh-based firm incidentally handles a large portfolio of family offices and clients.

general elections next year, the Union government will likely offer additional relief to cooking gas customers by increasing subsidies under the Pradhan Mantri Ujjwala Yojana (PMUY), two people familiar with the development said. Currently, PMUY beneficiaries receive a ₹300 per cylinder subsidy for up to 12 cylinders annually, after the latest hike in subsidy announced last month. “Although the beneficiary base under PMUY has increased, customers under the scheme would require more relief, and further steps may be taken in coming months," one of the people cited above said, requesting anonymity.

general elections. At an all-India level, both the food and non-food categories contributed to the growth in consumption. In the third quarter of 2023, the food sector grew 8.7% year-on-year.

insurance plans (Ulips). Take, for instance, the case of Tushar Jejani, 24, who works as a senior financial analyst at a multinational company in Hyderabad. He was approached by his bank’s relationship manager for an upcoming new fund offering (NFO).

By Amruta Khandekar and Shristi Achar A

And, it's all possible because prices are dropping for both natural gems as well as lab-grown diamonds (LGDs) as more manufacturers enter this segment of the jewellery market. LGDs have seen price drops in the range of 45-50%, while the natural diamond category has seen a price drop of 35-40%, as the economic slowdown in developed markets of the US and China has hurt demand for the gemstone. Six months ago, a 1-carat LGD ring at the retail level was priced at ₹2 lakh. But now it costs ₹80,000-₹1 lakh.

Canada’s main stock index was down 150 points in early-afternoon trading with losses led by the energy sector as the price of oil dropped below US$80 per barrel.

The U.S. economy may be growing much faster than pessimists had predicted, but business is still brisk for bankruptcy lawyers. “Things have really accelerated,” says Thomas Lauria, global head of restructuring at White & Case. His team is on track for record-breaking revenues this year.

Private sector capital expenditure will be more measured and not excessively exuberant over the next few years, as global headwinds weigh down domestic activity, ratings agency Icra said in a note released on Tuesday. «The sustenance of domestic demand amid global headwinds would impact the capacity utilisation over the next couple of quarters and influence the pace of incremental capacity addition announcements through the remaining part of FY24 and H1 FY25,» it said.

El Nino, U.S. forecasters say — if past years are any indication.Officials at the U.S.

Trolls Band Together" has recovered the top spot at the box office in the United Kingdom and Ireland from stablemate «Five Nights At Freddy's.» «Trolls Band Together» earned £1.8 million ($2.2 million) in its third weekend, bringing the total to £12.7 million ($15.7 million). In the process, it reclaimed the top spot from Universal's «Five Nights At Freddy's,» which pulled in £1.2 million in second place for a total of £8.7 million in its second weekend. Third place went to Paramount's «Killers of the Flower Moon,» directed by Martin Scorsese, which made £1.1 million for a total of £7.7 million.

Royal Enfield is taking a slew of measures including accessing ways to enhance connection with the communities as it sees huge potential for growth in the market, according to a top company executive. The Chennai-headquartered firm, a part of Eicher Motors, currently sells bikes all across the continent and has a market share of around 8.5 per cent in the middle-weight motorcycle segment.

Noida Police sent a notice Tuesday to Youtuber Elvish Yadav asking him to join the investigation into suspected use of snake venom for rave parties, PTI reported. Meanwhile, Uttar Pradesh minister Arun Saxena said no celebrity is bigger than the law, which will take its own course. The police have also applied for remand of the five people who were arrested over the case and sent to judicial custody, PTI quoted an official as saying. Yadav, winner of reality show Bigg Boss OTT, is among those named in an FIR by the Noida Police over suspected use of snake venom for rave parties. Asked about the case, Saxena, the Minister of State (Independent Charge) for Forest and Environment, said, «The law will take its course.

If you’ve sat your kids down to discuss Roth IRAs and compound interest, you might have been going about things the wrong way

₹8.3 lakh crore in December 2013 to a staggering ₹46.4 lakh crore as of September 2023, representing a fivefold increase. According to the study, passive funds have seen a substantial increase in their AUM, surging from a modest 1.5 per cent in 2015 to over 17 per cent. Nevertheless, equity funds dominated with the largest share at 54 per cent, followed by debt at 32 per cent, hybrid at nine per cent, and the remaining five per cent comprising multi-asset, international, commodity, and solution-oriented funds.

recent example of appointments cleared for the Punjab and Haryana High Court. It said the Supreme Court Collegium recommended names of five advocates for elevation as judges of the High Court. However, the central government only cleared three names, ignoring the names placed in serial numbers 1 and 2.

On Sunday the Manipur government extended the mobile internet ban in the state till November 8. An order issued by the division bench comprising Chief Justice Siddharth Mridul and Justice Golmei Gaiphulshillu Kabui asked the state «to extend the services to areas» which were unaffected by violence. The order stated, “The State of Manipur is directed to open and operationalize mobile towers, on a trial basis, in all those District Headquarters which have not been affected by violence and thereafter, if found feasible, extend the services to other areas where the law and order situation, so permits. It is clarified that even in the Districts that are partially affected by violence, those areas which are not so affected — in the same District — mobile towers shall be operationalized forthwith”.

Just a few days ahead of “National Education Day" observed on November 11 every year, Axis Bank and the Institute of Rural Management Anand (IRMA) have entered into a Memorandum of Understanding (MoU) on November 06, 2023. The idea behind entering the MoU is to establish the Axis Bank Chair for financial inclusion at IRMA. Established for five years, the Chair’s primary objectives include conducting research, fostering closer collaboration between the industry and academia, promoting thought leadership, and advocating for policy development. The Chair’s overarching goal is to enhance and expedite the advancement of financial inclusion (FI) and financial literacy in India.

By Vaibhav Agrawal