FIVE Financial News

Rio Tinto chairman Dominic Barton says the mining giant is committed to building its footprint in Mongolia, even as capital gets more expensive, and intense competition fuels high prices in the critical minerals mergers and acquisitions space.

Ozzy Osbourne revealed on Monday that he will no longer be performing at the much-anticipated Power Trip music festival. The event, which boasts an impressive line-up including Metallica, AC/DC, Guns N' Roses, Tool and Iron Maiden, is set to take place from October 6 to 8 at the Empire Polo Grounds in Indio, California. It is being organized by Goldenvoice, the founders of Coachella.

Canada's Immigration Minister Sean Fraser recently announced that they will be implementing new schemes to attract global tech talent to Canada. Referred to as Canada’s Tech Talent Strategy, these measures include: 1) New innovation stream under International Mobility Program (IMP) 2) Digital nomads 3) Work permit for H1-B visa holders 4) Improving existing programs such as the Global Skills Strategy and the Start-up Visa

By Katie Paul and Akash Sriram

South Korea's financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday. An official at the Financial Services Commission said it could not confirm the amount or other details, but it had asked the banks for cooperation in preparing liquidity through repurchase-agreement facilities to aid MG Community Credit Cooperatives (MGCCC).

artificial intelligence (AI), is driving the rally on Wall Street as the US economy heads into recession. The S&P 500 would be lower than at the beginning of the year without stocks like Apple, Alphabet, Meta, Microsoft and Nvidia climbing in the range of a third to more than double. Technology stocks have advanced nearly 40% in six months, the fastest pace in two decades.

United Pacific railroad has reached a tentative deal with a major union regarding paid sick leave

NATO leaders are set to make a new defense spending pledge at their summit this week as support for Ukraine eats into their military budgets

Iran's official news agency says a fire erupted at an oil refinery and injured eight firefighters in the country's south

The European Union has signed a free trade agreement with New Zealand that the two sides expect will increase bilateral trade by up to 30% within a decade

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BSE's 149th foundation day celebrations on Monday, the exchange unveiled its new logo, which signifies prosperity, vibrance, growth and new beginnings, besides emphasising continued trust and enhanced responsibility. The foundation day celebrations were held at BSE International Convention Hall on Monday, which began with a traditional bell ringing ceremony.

Former Kansas City Federal Reserve Bank President and CEO Thomas Hoenig joined ‘Mornings with Maria’ to discuss the Federal Reserve’s forthcoming rate hike decision.

US embassy mentioned that visa application process- appointment booking, calls, and fee payments-- will be resumed from 15 July.  US Embassy in India took to their Twitter handle, “Attention visa applicants! Our customer service center VFS is migrating to a new platform and will be temporarily closed for calls, fee payments, and appointment booking from July 12-14. These services will resume on July 15." VFS Global is the world's largest outsourcing and technology services specialist for governments and diplomatic missions.

Red flags have risen over the prospect of petrochemical over-production in China, potentially causing a global glut of polymer supply. As many as 20 petrochem projects in the country are expected to be completed this year and its share of global capacity may reach nearly a quarter, up from 14% five years ago. These new facilities will produce inputs for an array of industries, such as plastics.

Reuters.  Pakistan faces some $23 billion of external debt obligations coming due in the fiscal year starting July — more than five times the nation’s foreign-exchange reserves. Fitch in a statement said that the upgrade reflected the country's improved external liquidity and funding conditions following a staff level agreement with the International Monetary Fund (IMF).  The credit rating agency however, warned that the fiscal deficit still remained wide.

GST) council at its 50th meeting scheduled for tomorrow, July 11, is likely to deliberate on a host of issues including taxation of online gaming, definition of utility vehicles and tightening of norms for registration and claiming input tax credit (ITC). The GST Council is chaired by finance minister Nirmala Sitharaman and comprises a panel of state representatives.

'Although average returns in 2022 were negative, there was significant variation within these results.'

MICL Real Estate has acquired development rights of a total 10 adjoining housing societies in Ghatkopar suburb of Mumbai. The company has acquired the rights to redevelop these housing societies through its subsidiary MICL Creators LLP wherein it holds 60% partnership interest. The project will be executed as a cluster redevelopment under regulation 33(9) of the Development Control Promotion and Regulation (DCPR), 2034.

Maruti is now a leading player in the auto industry’s Rs 10-20 lakh segment with a market share of 23 per cent for Q1 of FY 2024. The company was able to overtake its market rivals such as Hyundai, Tata Motors and Mahindra & Mahindra (M&M) by launching its premium models.Maruti Suzuki’s premium models such as 4x4 Jimny off-roader and Invicto MPV which is considered to be a twin of Toyota Innova priced upwards at Rs 25 lakh, have been pushing sales in the premium segments as it vies for better product margins, improved profitability, and high-income customers. «With a share of 23 per cent in the Rs 10-20 lakh category at the end of the first quarter (Q1) of FY24, Maruti leads the segment as we sell the maximum with models such as the Grand Vitara and Brezza SUVs, XL6 MPV, and the just-launched Jimny,» said TOI quoting Shashank Srivastava, director (sales & marketing) at Maruti Suzuki. The automaker's sales of Rs 10 lakh-plus vehicles increased dramatically in the past four to five years.

India's Test team on away tours over the past decade was largely because of its all weather pace attack but the same can't be said about the fast bowling resources available for the two-Test series against the West Indies. Transition is inevitable in any team, but considering the uncertain future of injured star Jaspirt Bumrah and the absence of Mohammed Shami and Umesh Yadav from the Tests in the Caribbean, it has been hastened in India's case.Virat Kohli made a conscious effort to field five bowlers in his tenure as captain and the results that followed made his unit arguably the best Indian team of all time.