FIVE Financial News

Indian startups have shed more than 30,000 jobs. Investors now worry that companies in their portfolio will never make money. Heavy losses by Indian “unicorns" (unlisted companies worth $1bn or more) bear this out.

Edelweiss Mutual Fund has decided to limit the lumpsum investment (including switch-ins) in Edelweiss Recently Listed IPO Fund. The fund house has decided to limit the subscription to Rs 2 lakh per transaction. This change will be effective from November 6 until further notice. The fund house informed this through a notice-cum-addendum on October 27. The fund house also stated that investments through systematic investment plan (SIP), systematic transfer plan (STP) and other facilities/special products offered will remain unchanged.

Ritesh Srivastava, Founder & CEO, FREED, says “I would advise consumers that it does not give you points to own four or five credit cards. The key is to identify your needs. What is it that you will have the ability to pay in full at the end of the month? Just own those many credit cards and keep one for rainy day expenses but as long as you are financially disciplined. Credit can be a great asset for an individual, but if not handled wisely, can soon turn into a big debt trap.” How many credit cards do you own? I own about four credit cards but I use two credit cards very frequently.So, I may own four, but I only use two credit cards when it comes to running any charges on it.

Gautam Kalia, Head-Super Investor, Sharekhan By BNP Paribas, says “investors who have spent some time in the market and who have got a certain amount of experience consider trigger SIPs to enhance their SIP returns. Also most of these investors have a large lump sum amount. So when you have a large lump sum amount but you are not extremely comfortable with current market valuations and then you want to move that money in a staggered form back into the market that is really when trigger SIPs work wonders for investors.” The rule of SIP is to never stop it if you want to really make the most of your investment in mutual funds via SIPs. Markets are always going to be volatile, but then discipline is the key ingredient to having a great corpus and maybe even to get the power of compounding activated. In what way do you think it is a bad financial call to stop your SIP? The easiest way to explain it is you go to a shop regularly to buy clothes and you go to the same shop one day to shop and you realise that things are on sale and that is the one day you decide not to buy because things are on sale and really that is how you need to view the market as a long term SIP investor.

Saving for a rainy day has been sound financial advice for generations, but when the rain keeps coming it’s easy to fall behind.

Embattled debt investors like the look of 5% Treasury yields as they weigh the risk-versus-reward scales for the world’s biggest bond market.

Manipur government on Thursday extended the mobile Internet ban for another five days till October 31. After last month's students' agitation, the Manipur government had on September 26, two days after the ban was lifted after 143 days, had suspended mobile Internet data services, internet/data services and after each five days the ban had been extended. A Home Department notification said that the ban was extended following «apprehensions that some anti-social elements might use social media extensively for transmission of images, hate speech and hate videos inciting the passions of the public which might have serious repercussions on the law and order situation». The Director General of Police (DGP) on October 25 had «reported that there are still reports of incidents of violence like confrontation of the public with security forces, attempts to mob elected members residences and civil protests in front of police stations». «To thwart the designs and activities of anti-nationals and anti-socials and to maintain peace and communal harmony and to prevent any loss of life, it has become necessary to take adequate measures to maintain law and order in public interest by stopping the spread of disinformation and rumours through social media platforms,» the notification said.

₹9 lakh under single ownership and ₹15 lakh under joint ownership. POMIS offers an interest rate of 7.4% payable monthly. PPF is a popular long-term savings scheme in India.

₹2 trillion worth of electronics manufactured in the country. “Samsung Fold Five and Apple iPhone 15 are already being manufactured here", he added, while stressing the need to take this success in mobile and electronics manufacturing further.

Before investing in a mutual fund scheme, it is seen imperative to weigh a number of factors beforehand such as the category of fund, macroeconomic factors, reputation of fund manager, and importantly – the past returns delivered by the scheme.

Co-working startup Innov8 has announced that it will double its footprint in the ongoing financial year FY 2023-2024. The company added 5 new centres in key business cities in India in early 2023 and is all set to inaugurate 5 more centres in the current quarter.

White House Commission for Asian American, Native Hawaiian, and Pacific Islander Affairs (AANHPI) has approved a recommendation to issue employment authorization cards and travel documents at the initial stage of Green Card applications. If approved by US President Joe Biden, this proposal would provide much-needed relief to countless foreign professionals, especially Indians who face Green Card wait times stretching into decades. The recommendation suggests that the US Department of Homeland Security's US Citizenship and Immigration Services (DHS USCIS) should grant EADs and travel documents to individuals with approved I-140 employment-based visa petitions in the EB-1, EB-2, and EB-3 categories, who have been waiting in the visa backlog for five or more years, regardless of their adjustment of status application status. The Green Card, also known as the Permanent Resident Card, is a crucial document granting immigrants the privilege of residing in the United States permanently. The Green Card application process involves multiple stages, beginning with employers filing I-140 applications, followed by the adjustment of status (I-485). At the I-485 stage, applicants currently receive their Employment Authorization Card (EAD) and Advance Parole travel documents, enabling them to work for any employer until their Green Card application is fully processed. This recommendation was proposed by Ajay Jain Bhutoria, a prominent Indian American community leader and a member of the White House Commission for AANHPI. The validity of these EAD and travel documents should extend until the final stage of their Green Card application is processed. This recommendation has been accepted by the Commission.

Pakistan and South Africa World Cup squads: Pakistan: Babar Azam (c), Shadab Khan, Fakhar Zaman, Imam-ul-Haq, Abdullah Shafique, Mohammad Rizwan (w/k), Saud Shakeel, Iftikhar Ahmed, Salman Ali Agha, Mohammad Nawaz, Usama Mir, Haris Rauf, Hasan Ali, Shaheen Afridi and Mohammad Wasim.South Africa: Temba Bavuma (c), Gerald Coetzee, Quinton de Kock (w/k), Reeza Hendricks, Marco Jansen, Heinrich Klaasen, Andile Phehlukwayo, Keshav Maharaj, Aiden Markram, David Miller, Lungi Ngidi, Kagiso Rabada, Tabraiz Shamsi, Rassie van der Dussen and Lizaad Williams.When and where to watch the Pakistan vs South Africa match? The Pakistan vs South Africa match will air live on Indian television via Star Sports channels. Indian viewers can also enjoy free live streaming of these matches on the Disney+Hotstar app and website. Social media giant Meta has also partnered with the ICC for World Cup 2023 coverage on Instagram, WhatsApp, Facebook and Threads.

Stock market today: After bllodbath on Dalal Street for the last six sessions, Indian stock market finally witnessed some buying interest during early morning deals on Friday. Whether it is just a relief rally or the market finally bottomed out after havey beating on six days in a row, only time will tell.

Federal Reserve’s commentary on interest rates and economy when it meets next week. MCX December gold futures were trading flat at Rs 60,955 per 10 gram, up by Rs 3.

visa processing services in the country. IRCC said in a statement a reduction in Canadian diplomatic staff in India may cause delays for Indian citizens in various services, such as visa processing and passport issuance. The statement also mentioned, “revoking diplomatic privileges and immunities is contrary to international law and this action taken by India is unreasonable and escalatory.

Gina Rinehart’s Hancock Prospecting has pocketed almost $2.14 billion in dividends from its Roy Hill iron ore mine in the Pilbara in recent months, fuelling the billionaire businesswoman’s spending spree on lithium stocks.

OnePlus Open - is all set to go on sale in India today. The smartphone was launched last week and is currently available for pre-order on the official OnePlus website. Interestingly, ahead of the first sale of the OnePlus Open, the smartphone maker has rolled out a software update to tweak and take care of some of the issues that have plagued the premium hand The OnePlus Open sports a 7.82-inch Flexi-fluid AMOLED panel with 1-120 Hz dynamic refresh rate.

World Cup 2023 with back-to-back wins, the Men in Green lost three consecutive matches. The biggest setback happened when they lost to Afghanistan. Now, as it stands, Babar Azam's boys may even fail to qualify for the semi-finals unless they win all their upcoming matches.

Also Read: Israel releases 'never-before-seen' video of IDF soldiers killing Hamas militants and saving hostages | Watch 5. A rocket launched in the Israel-Hamas conflict struck an Egyptian town on the border with Israel on Thursday, resulting in five people sustaining injuries, as reported AFP citing local media. 6.

Tottenham Hotspur has an opportunity to extend its lead at the top of the Premier League table, possibly by five points, as it pays a visit to Selhurst Park to face Crystal Palace on Friday. Under Ange Postecoglou's management, Spurs have maintained an unbeaten record in the Premier League, securing victories against Liverpool and Manchester United, and a draw with Arsenal. The only blemish on their record is a draw in Week 1 against Brentford. Crystal Palace currently occupies the 11th position with 12 points, but after a heavy 4-0 loss to Newcastle United, the Eagles are in need of a strong recovery.