Gap Financial News

India and could surpass the children's population by mid-century, UNFPA's latest «India Ageing Report 2023» has revealed. Terming the rate of growth of the elderly population as «unprecedented», the report has observed, «By the end of the century, the elderly will constitute over 36% of the total population. Sharp growth in the elderly population is observed from 2010 onwards along with a decline in the age group of below 15 years, indicating rapidity of ageing in India.» The statistics can be alarming for India, which prides itself as a young nation.

US Treasury yields were little changed to modestly higher on Wednesday, as traders took a breather after a months-long sell-off fueled by expectations that the Federal Reserve will keep rates high for some time to bring inflation down to its 2% target. Yields, however, are expected to stay high, with the latest pullback seen as a minor blip. «In the near term, there is pro-active reluctance to buy (Treasuries) particularly given the speed of the latest sell-off,» said Ben Jeffrey, rates strategist, at BMO Capital in New York. «There are definitely enough risks out there in terms of labor market growth and the economy, as well as the risk of a government shutdown that will eventually help to bring some demand and push rates lower,» he added. In the credit default swaps market, the threat of another government shutdown sent one-year credit default swaps to their widest since June 1, when the US government was on the cusp of a technical sovereign default as politicians in Washington haggled over the borrowing limit. U.S. one-year credit default swaps widened to 22 bps on Wednesday, from 21 bps at Tuesday's close.

NEW DELHI : Public lynchings in India may be isolated cases, but each instance tarnishes the country’s rule-of-law credentials. This week, a man suspected of theft died after he was tied to a pole in northeast Delhi and beaten with sticks, a ghastly violation of his legal rights that was captured by a video clip in circulation on social media.

NEW DELHI : India is working with Russia to sort out lingering problems with the rupee trade mechanism, including challenges with the exchange rate mechanism and fund repatriation, two government officials said. “Though issues with the special Rupee Vostro account system haven’t yet been resolved, both sides are working on the teething issues," one of the officials said. A Vostro account is a bank account, generally in a foreign currency, which is held by one bank on behalf of another.

By Giuseppe Fonte and Gavin Jones

NATO summit in 2019 when Mr Trump asked jeeringly: “Where are you at? What is your number?" Mr Trudeau had more friends at that summit than Mr Trump. But since the Russian invasion of Ukraine, Canada’s position as a penny-pinching outlier has become more embarrassing for the country. The statement of Jens Stoltenberg, NATO’s secretary-general, before the NATO summit in Vilnius this month that spending 2% of national GDP on defence was no longer to be regarded as the “the ceiling" but “the floor" could have been designed to cause blushes in Ottawa.

Space Administration (NASA) has shared pictures of a space object that looks like a dumpling. «Ravioli, pierogi, empanada? No, that… What do you see? No wrong answers,» NASA asked in an Instagram post. The space agency then clarified that the object is actually the innermost moon of Saturn. NASA revealed that its Cassini spacecraft took the images from 15,300 miles (24,600 km) which happens to be its closest encounter with the moon, which is called Pan. «Pan, the innermost of Saturn’s known moons, orbits the planet from inside a gap in one of Saturn's rings. It completes an orbit every 13.8 hours at an altitude of 83,000 miles (134,000 km).

United Spirits Ltd. traded at Rs 1011.4 on BSE at 11:42AM (IST) on Wednesday, down 0.18 per cent. The stock quoted a 52-week low price of Rs 730.9 and a high of Rs 1073.2.

Shriram Finance Ltd. traded at Rs 1903.25 on BSE at 10:15AM (IST) on Wednesday, up 1.06 per cent. The stock quoted a 52-week low price of Rs 1147.05 and a high of Rs 1974.95.

The time-consuming and expensive process of drafting a commercial contract for construction projects has been a sore point for both law firms and their clients for decades.

NEW DELHI : Maruti Suzuki India Ltd has surged ahead in the rapidly expanding SUV (sport utility vehicle) segment, marking a turnaround after several quarters of market share loss due to declining small car sales and lack of new SUV launches, following its exit from the diesel-engine market in 2020. Maruti has made significant progress in realizing its 2023-24 target of 25% share in India’s SUV market, consistently increasing its share for three straight months, spanning July through September. In July and August, the company’s SUV market share exceeded 24.5%, and it expects a similar performance in September.

By Valentina Za and Emilio Parodi

Manipuri neurosurgeon, Dr Amitkumar who teaches Wushu at a quiet corner in Imphal East district, an extraordinary task to promote the game in the state. Driven by his deep childhood attachment with the game, Amitkumar cannot leave this electrifying Chinese martial art to date.

Euro zone government bond yields held near multi-year highs on Tuesday as the narrative that global central banks would keep interest rates «higher for longer» continued to drive price action. Italy is also under growing market scrutiny as Prime Minister Giorgia Meloni is set to announce a new budget against the backdrop of a weakening growth outlook. Reuters earlier reported that Italy is likely to raise its 2024 budget deficit target to between 4.1% and 4.3% of gross domestic product, however, the fiscal gap is seen below 4% of GDP under current trends, allowing leeway for several billion euros to fund measures in the upcoming budget. Germany's 10-year government bond yield, the euro area's benchmark, was last flat at 2.788%, having briefly hit a 12-year high of 2.813% in early trade. Bonds yields move inversely with prices. Italy's 10-year yield was last up 4.4 bps at 4.697%, after hitting its highest level since October.

Infinity Learn by Sri Chaitanya clocked a profit after tax (PAT) of over Rs 100 crore for the financial year ended March 31, 2023, the company claimed in a recent press release. According to the press release, the company also managed to keep expenditure growth at just about twice the previous year's levels. The company's 2022-23 PAT is a significant turnaround from Rs 37 crore loss logged in 2021-22, the release said. Ujjwal Singh, the Founding CEO of Infinity Learn by Sri Chaitanya, said, “Navigating the ever-evolving EdTech landscape, Infinity Learn has soared with remarkable growth this year. In just over two years, we've not only upheld our relentless dedication to excellence but have also championed responsible growth.

By David Morgan and Andy Sullivan

Marico Ltd. traded at Rs 581.65 on BSE at 12:48PM (IST) on Tuesday, up 0.52 per cent.

ACC Ltd. traded at Rs 2015.2 on BSE at 10:45AM (IST) on Tuesday, up 0.74 per cent from previous close. The scrip quoted a 52-week low price of Rs 1593.5 and a high of Rs 2674.45. Earlier, the stock saw a gap down opening in the morning. A total of 4,960 lakh shares changed hands on the counter till 10:45AM (IST). The stock of ACC Ltd.

Bajaj Holdings & Investment Ltd. rose 0.96 per cent to Rs 7353.0 at 10:20AM hours (IST) on Tuesday.

Investing.com-- Most Asian currencies fell slightly on Tuesday, while the dollar steadied at its highest levels for the year on growing bets that U.S. interest rates will rise further this year.