NOT Financial News

economic advisory council to the Prime Minister, Sanjeev Sanyal said Tuesday, two days before the Reserve Bank of India's August monetary policy announcement. The six-member monetary policy committee of the central bank began its meeting Tuesday. The committee members are expected to focus this time more on tomato and green chilli prices, which surged last month, leading to a rise in consumer price index (CPI) for the first time in five months.

Kalgoorlie | Association of Mining and Exploration Companies chief executive Warren Pearce warned the Albanese government not to wade into the Indigenous heritage space on the back of WA’s radical legislative reversal that has created an approvals minefield for explorers and farmers.

Luke Sayers “does not recall” the Australian Tax Office ever asking him to review internal emails relating to the firm’s troubled tax division and said he was acting to “address the ATO’s concerns” during his time as chief executive of PwC Australia.

Arvind Kejriwal criticized the stance of Union Home Minister Amit Shah, asserting that the granted power should be utilized for public service, not the deprivation of rights. As reported by TOI, Delhi CM Kejriwal accused Prime Minister Narendra Modi of ignoring the Supreme Court's directive and pointed to his electoral victories as evidence of public support for his work. He alleged that the BJP was obstructing developmental efforts to hinder his progress.

Bill Gurley, a general partner with Silicon Valley-based venture capital (VC) firm Benchmark, is of the view that though there is a larger assumption that VCs are sitting on heaps of dry powder and that they are “burning a hole” in someone’s pocket, the reality is very different. Gurley was referring to an article in tech publication The Information, titled ‘Venture firms still writing small checks despite $271 billion in dry powder’.

Concord Biotech IPO: The initial public offering (IPO) opened for bidding on 4th August 2023 and its subscription will end on 8th August 2023. This means, today is the last date to apply for the public offer of this Rekha Jhunjhunwala-backed company. However, after trend reversal on Dalal Street and strong Concord Biotech IPO subscription status, grey market has gone highly bullish on the public issue.

«We expect the Board of Control for Cricket in India (BCCI) to garner 1.6-1.9x of base price (approximately 32% higher than earlier cycle rights on a like-to-like basis, as the number of matches has come off by 15% vs the earlier cycle), as the current base at Rs 450 million per match is already 25% lower than the last cycle’s price of Rs 600 million,» Analyst Karan Taurani wrote in the report. The combined base price of TV and digital stands at Rs 3,960 crore for 88 matches to be played in the next five year cycle of 2023-2028. The TV and digital rights carry base price of Rs 20 crore and Rs 25 crore per match, respectively, Elara noted. Elara said the BCCI expects at least Rs 60 crore per game at the auction, which translates into a base price of Rs 5,280 crore via the eAuction process.«It may cancel the process if the numbers are not breached,» Taurani said.

Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community.

Downer EDI’s asset spin-off spree has hit a speed bump, while its investors reel from last week’s profit hit.

FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan. 

By Leonardo Benassatto and Ueslei Marcelino

Vedanta Resources' move to sell stake in its Indian-listed subsidiary Vedanta Ltd is credit positive but not enough to keep the rating outlook stable, analysts at S&P Global Ratings said. The rating agency downgraded the outlook for Vedanta Resources Ltd (VRL) to 'negative' from 'stable' to factor in heightened refinancing risk as the company's access to cash flow from its operating subsidiaries has weakened while external financial conditions, too, have become challenging.

Shah on Monday said in Rajya Sabha that the bill to replace an ordinance for handling the transfers and postings of officials in the Delhi government has been brought to safeguard the rights of the people and not to usurp the power of the AAP government. Replying to a debate on the Government of National Capital Territory of Delhi (Amendment) Bill, 2023, Shah assured that the Upper House the objective of the bill was «only and only to provide efficient, corruption-free governance and popular government.» He also assured the members that there is not even a single provision that changes the status of the system prevailing since the Congress regime. Shah asserted that the bill is constitutionally valid and it does not violate the Supreme Court judgement from any angle.

By Noel Randewich

Climate Change (MoEF & CC), the Government of India had notified tiger and peacock as 'National Animal' and 'National Bird' respectively, the minister said in his response. "As the said notifications of the Government of India were not forthcoming in the official records of MoEF & CC for quite some time, the Ministry renotified Tiger and Peacock as 'National Animal’ and National Bird' respectively, on 30th May 2011," he added.

Jitendra Arora, Sr EVP & Fund Manager, ICICI Pru, says “we are very positive on Indian markets over a long time but we still expect that in the short term, which may be next three to six months, we can see markets consolidating around current levels. That period may get stretched if we see more election-led uncertainty coming into the markets which will start becoming a factor at some stage psychologically as we move closer to the election cycle.”Let’s talk about the broad markets first. Last week we saw the Nifty at around 19,300 around and today it was trying to come back to 19,600 levels. What is your view on the market on a long term basis? Do you expect it to be a bit range-bound right now?You asked two questions in the same flow, one is whether I expect the market to stay range-bound and also what is my long-term view.

mental health organisations accused Iranian authorities of “exploiting psychiatry" for other purposes. “Diagnosing mental health disorders is the responsibility of psychiatrists, not judges," they decried, according to France 24. What's more concerning is that the Iranian authorities are not even sparing children and young girls.

Suncorp shareholders and analysts are wary that Bendigo & Adelaide Bank could offer a compelling alternative for its banking arm compared to ANZ’s $4.9 billion all-cash takeover bid.

This article is part of our Summer reads series. Visit the full collection for book lists, guest essays and more seasonal distractions. It is the world’s most tired interview question: what is your greatest weakness? And Rishi Sunak, one of the two remaining candidates in the race to become Britain’s prime minister, gave the world’s most tired answer—perfectionism—when he was asked it at an online hustings earlier this month.

Congress Party is likely to move to the Supreme Court on Tuesday, August 8, if Rahul Gandhi's membership is not restored by this evening: Sources. Leader of Congress in Lok Sabha, Adhir Ranjan Chowdhury on restoration of Rahul Gandhi's Lok Sabha membership says, "We've given all the documents including order copy.

Elon Musk has revealed why he might not be able to fight with Mark Zuckerberg this month. Musk said that the exact date for the fight is unclear and he might need a surgery before the clash with Meta CEO. In reply to a post by X News Daily, Musk said, “Exact date is still in flux.