FIVE Financial News

A plan for how Indonesia will spend $20 billion to transition to cleaner energy was submitted Wednesday to the government and its financing partners

Texas on Wednesday approved its plan to require companies to include Tesla's technology in electric vehicle (EV) charging stations to be eligible for federal funds, despite calls for more time to re-engineer and test the connectors. The decision by Texas — the biggest recipient of a $5 billion program meant to electrify U.S. highways — is being closely watched by other states and is a step forward for Tesla CEO Elon Musk's plans to make its technology the U.S.

Crypto assets present “novel and complex risks” to the banking sector that are “difficult to fully assess,” according to the Federal Deposit Insurance Corporation (FDIC)’s 2023 Risk Review for the banking sector.

The Caisse de dépôt et placement du Québec posted a 4.2 per cent return for the first half of 2023 despite volatile market conditions, with contributions coming from a fixed-income portfolio that was boosted by both higher interest rates and infrastructure bets that can act as a hedge against inflation.

Finance Minister Nirmala Sitharaman on Wednesday invited Japan Bank for International Cooperation (JBIC) for an active engagement with National Investment and Infrastructure Fund (NIIF), EXIM Bank of India and other financial institutions citing huge opportunity for investment in the country. During the meeting with JBIC Governor Hayashi Nobumitsu here, both exchanged views on JBIC's recent activities in India contributing towards Japan's investment target of five trillion yen over the next five years. «The Union Finance Minister observed that India has been ranked by the JBIC as one of the most attractive #investment destinations in recent years' survey of Japanese manufacturing companies and encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank, NIIF and lending banks to leverage the strength and complementarities of both countries,» the finance ministry said in a statement posted on X. Japan has agreed to provide 5 trillion yen in public-private investment and loans to India over the next 5 years. This goal was set by both countries during Prime Minister Kishida Fumio's visit to India in March of last year.

Himachal Pradesh after devastating rains pounded the state, with Chief Minister Sukhvinder Singh Sukhu terming the work of rebuilding infrastructure a «mountain-like challenge». The death toll from landslides and flashfloods jumped on Wednesday as rescuers pulled out more bodies from the rubble of collapsed buildings, officials said. Heavy rains have battered the hill state since Sunday, triggering landslides in several districts including Shimla where three areas — Summer Hill, Fagli and Krishna Nagar — are badly hit by landslips.

Adani Power, IndiGo, Religare, JSW Energy, among others witnessed heavy and selling on BSE during Wednesday's trading session. These stocks were in focus accordingly. US-based boutique investment firm GQG Partners Emerging Market Fund bought equity shares of both Adani Power and JSW Energy though block deal today.

NEW DELHI : Inward foreign remittances to India grew 26% in the last financial year to $112.5 billion, clocking its highest growth in the last five years amid a rebound in economic recovery after the pandemic, showed latest data from the finance ministry. Inward foreign remittances stood at $89.1 billion in FY22, $80.2 billion in FY21, $83.2 billion in FY20, and $76.4 billion in FY19.

Electric vehicle manufacturer, Mullen Automotive (NASDAQ:MULN) announced Wednesday the debut of their ultra-high-performance Mullen FIVE RS EV Crossover. According to the release, the RS will be featured on the upcoming “Strikingly Different” EV tour, which kicks off on Aug. 20, in Austin, Texas.

US Federal Reserve and European Central Bank. Moves up or down in borrowing costs among that august group tend to be in increments of a quarter or half-point. The PBoC has elected to startle markets with a fraction of that.

Warren Buffett’s annual letters to shareholders are widely anticipated. A mix of self-deprecating humour and investment rules he lives by, they also offer an unusually candid look at his company Berkshire Hathaway’s successes and missteps during the year. His latest letter earlier this year began in a much more reflective mood, however.

Union Cabinet approving the 'PM Vishwakarma' scheme, Prime Minister Narendra Modi on Wednesday said the initiative will celebrate traditional artisans and crafts people, both from rural and urban India. The Union Cabinet on Wednesday approved the 'PM Vishwakarma' scheme with a financial outlay of Rs 13,000 crore for a period of five years that will benefit about 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers and barbers.

PTI citing officials. The Y20 summit is being organised by the Union ministry of youth affairs and sports.

Chandrayaan-3 and Russia's Luna-25 gearing up for lunar landings next week, each mission holding significant implications beyond the thrilling competition in the skies. While Chandrayaan-3 plans to be the first to land on the Moon's south pole, Luna-25's swift trajectory has cast new light, say experts as anticipation builds up. The proximity, possible overlap, of their landing dates — August 21-23 for Luna-25 and August 23-24 for Chandrayaan-3 — has intensified global attention.

Millets, once a staple in the Indian diet, are coming in vogue again thanks to growing consciousness about health and government campaigns. India wants to make itself a “global hub" of these grains, and the United Nations has declared 2023 the International Year of Millets to raise awareness. However, many Indians do not know much about various kinds of millets, and even if they do, they don’t necessarily consume them or even see themselves doing so in the near future, found a survey of 11,281 Indians conducted by Development Intelligence Unit, a collaboration between Sambodhi, a research group, and Transforming Rural India, a non-profit.

₹2,406 crore during Wednesday's session. As per the NSE data, FIIs cumulatively bought ₹21,055.98 crore of Indian equities, while they sold ₹20,333.22 crore --- resulting in an inflow of ₹722.76 crore. Meanwhile, DIIs infused ₹7,967.77 crore and offloaded ₹5,571.48 crore, registering an inflow of ₹2,406.19 crore.

Narendra Modi will attend the BJP's Central Election Committee and the meeting will be attended by other senior leaders of the party. The main agenda of the meet is likely to be hold discussions on the upcoming state assembly polls, party leaders said. The CEC members are expected to take stock of the ongoing poll preparations, gather feedback and shape the party's strategy, including for selecting candidates, in the meeting, sources said to news agency PTI.

Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, PTI reported Wednesday, citing official sources. The Indian government currently holds an 86.36% stake in the financing arm of the Indian Railways. The PTI reported that an inter-ministerial group (IMG) having senior officers from the Department of Investment and Public Asset Management (DIPAM) and the Railways Ministry has started consultations to decide on the quantum of stake dilution.

By Elena Fabrichnaya, Gleb Stolyarov and Anastasia Lyrchikova

Palo Alto Networks has long been popular with Wall Street analysts. It will be interesting to see if that sticks after the cybersecurity provider ruins their weekend. Ninety percent of analysts covering Palo Alto Networks rate the stock as a buy—the largest percentage of positive ratings of any cybersecurity company generating more than $1 billion in annual revenue, according to data from FactSet.

New Delhi: Rainfall activity is set to intensify in eastern India starting Wednesday and in adjoining central India due to a potential low-pressure area forming over the Bay of Bengal, the India Meteorological Department (IMD) has said. “Light to moderate scattered to widespread rainfall with isolated heavy rainfall activity is very likely over Andaman and Nicobar Islands today and on Thursday; over Odisha until Saturday; over Jharkhand from is Wednesday and Friday; in West Bengal and Sikkim today and on Thursday.