PAM Financial News
18.10 / 13:23
markets
Digital
CAT
trends
PAM
country
social
Pets in this country are 'working' in cafes, earning snacks as salaries
One example is 27-year-old PhD student Jane Xue, who decided to send her two-year-old Samoyed, OK, to work at a dog cafe in Fuzhou. For Xue, it’s a win-win situation. “It’s just like sending a child to school,” she told CNN. «OK gets to play with other dogs and won’t feel lonely, and we save on the cost of running the air conditioning all day.» Xue and her partner, who are often out on weekends, found the cafe job a perfect way for OK to socialize.
18.10 / 09:55
markets
Digital
Action
Deloitte
Experts
PAM
2020
India hitting back? Canada's border police officer named in terror case
Khalistani terrorists. After the Royal Canadian Mounted Police claimed a few days ago that the Lawrence Bishnoi gang active in Canada was linked to Indian government agents, India's Ministry of External Affairs pointed out the Canadian government had ignored India's request in the past to deport members of Bishnoi gang operating from Canada. Also Read: US charges ex-Indian intelligence official in foiled Sikh separatist Gurpatwant Singh Pannun murder plot
18.10 / 09:55
markets
Digital
Manufacturing
Deloitte
Experts
PAM
Govt studies tariff cuts under efforts to spur green hydrogen
India is considering cuts to tariffs on imports of machinery needed to manufacture green hydrogen, as the nation pushes to become a major hub for the cleaner fuel. Prime Minister Narendra Modi’s government is discussing a plan to exempt some equipment from import levies and to reduce goods and services tax on the fuel, which is currently set at 12%, according to people familiar with the details, who requested anonymity to discuss private deliberations. The changes would cover both green hydrogen and green ammonia, though would only apply to production of fuel which is then exported rather than sold domestically, the people said. Green hydrogen is produced by using renewable energy to split the hydrogen and oxygen atoms in water.
18.10 / 09:55
markets
Digital
Manufacturing
Mobile
President
PAM
stage
VVDN in advanced stages of designing mobile phone for US brand: President
VVDN is in advanced stages of designing mobile phones with 5G support for an American brand, a top official told ET, adding that the company plans to invest $100 million in the next 3-5 years to expand capacity. VVDN is aiming to take advantage of the shift of global companies away from China and be the first Indian manufacturer to have design capabilities in-house, without support from a technology partner. “We are investing in designing phones. We have already taken that initiative, and we are building a 5G phone as we speak for the North American market. We already have a customer, and the designs are in advanced stages,” Vivek Bansal, president, VVDN, told ET.
18.10 / 09:55
markets
Digital
Sony
Experts
PAM
reports
Schools
Police suspect foul play in Andheri flat fire that killed 3
foul play in a fire that broke out Wednesday in a flat at Andheri's Lokhandwala Complex, resulting in the deaths of three individuals, reported TOI. Among the deceased were a visually impaired senior citizen, his elderly wife, and their domestic help. During the initial inspection, authorities discovered bloodstains in the living room, raising immediate concerns. Notably, while the couple's bed was charred, nearby curtains remained untouched, according to the TOI report. Police also noted a «distinct smell of kerosene» in the apartment. Initial reports indicated that the fire may have originated from the flat's air conditioning unit, noted TOI… However, neighbours reported that the couple rarely used the AC, casting doubt on the possibility of a short circuit. Additionally, other household items were found intact, raising further questions about the fire's cause and why only the bed was destroyed.
18.10 / 09:55
markets
Digital
Healthcare
Experts
PAM
cover
hospital
KIMS Hospitals enters Rs 700 crore pact with Wipro GE Healthcare to procure medical equipment
Wipro GE Healthcare to procure medical technology and services of upto Rs 700 crore. The MoU will cover new products, replacements, and services for all 12 KIMS hospitals and 4 upcoming hospitals over the next 3 years. The MoU covers a full suite of medical technology products designed, developed and manufactured by Wipro GE Healthcare including PET CTs, SPEC CTs, Cath labs, MRIs, CT Scanners, ultrasounds, and critical care equipment, among others.
18.10 / 07:35
markets
Digital
Strategy
Experts
PAM
Ashneer Grover withdraws oppression and mismanagement plea against BharatPe management
Ashneer Grover, cofounder and former managing director of BharatPe, withdrew his plea from the National Company Law Tribunal (NCLT), in which he had alleged oppressive conduct and mismanagement by the board of the fintech firm. The withdrawal of the plea from the NCLT's Delhi bench came after Grover reached a settlement with the company on September 30, 2024. A copy of the settlement agreement was also placed before the NCLT by the counsel appearing for Grover, who had filed an application for withdrawal of the petition. "… during the pendency of the said petition, parties have arrived with settlement and also executed the settlement agreement dated September 30, 2024, a copy of which is placed on record and in view of the settlement applicant (who is petitioner in the main company petition) has sought liberty to withdraw the company petition," the NCLT order dated October 14, 2024, noted.
18.10 / 07:35
markets
Digital
Booking
Airlines
Mobile
PAM
travelers
Vistara-Air India merger: Will airport lounge access booked on Vistara be valid when flying Air India after November 12?
After November 11, 2024, Air India will take over the operations of all Vistara aircraft. After this date, all remaining Vistara flight bookings will be exclusively handled by Air India. Below are important frequently asked questions (FAQs) about booking flights, accessing lounges, getting refunds and cancellations, and other relevant information as per the Vistara-Air India merger on the airlines' websites.
18.10 / 07:35
markets
IPO
Digital
security
Experts
PAM
Chinese robotaxi firm Pony AI files for US IPO
Pony AI, backed by automaker Toyota, filed for an initial public offering in the U.S. on Thursday, in another sign of growing investor interest in new listings and easing regulatory pressures. Activity in the IPO market has picked up pace in recent weeks, buoyed by the U.S. Federal Reserve kicking off its highly anticipated policy-easing cycle and benchmark indexes trading near record high levels. Pony AI, in which Japan's Toyota owns a 13.4% stake, revealed that its revenue nearly doubled to $24.7 million in the first half of 2024. Net loss attributable to the company was $51.3 million in the same period, compared with $69.4 million last year.
18.10 / 07:35
markets
Digital
Election
Experts
PAM
reports
CM Eknath Shinde cites Haryana to predict 'thumping' majority for Mahayuti in Maharashtra election
Maharashtra Chief Minister Eknath Shinde has expressed confidence that the ruling Mahayuti coalition will win the upcoming assembly elections with a «thumping» majority, citing the BJP's impressive performance in Haryana. Shinde was speaking to reporters late on Thursday night at the Pune airport after returning from Chandigarh, where he attended the swearing-in ceremony of Haryana CM Nayab Singh Saini and the NDA Chief Ministers' Council Meeting, chaired by Prime Minister Narendra Modi. Shinde said the chief ministers of the NDA-governed states focussed on development and welfare schemes. «There was a general consensus that such meetings should be held twice a year,» he said. «The Haryana election results defied all survey predictions as people acknowledged the work of Prime Minister Narendra Modi,» said Shinde, calling Saini a down-to-earth leader.
18.10 / 07:35
markets
Provident
Digital
Food
Experts
PAM
reports
IT company fires 24 employees for using meal credits to buy household items
Meta employees from blatantly misusing company-provided meal credits for personal purchases. According to a report by Financial Times, these employees had been using their $25 meal credits to buy non-food items such as toothpaste, acne pads, and wine glasses. Like other large tech companies, Meta provides extensive food options for its in-office staff. Employees working at major offices, such as the Silicon Valley headquarters, receive free meals on-site, while those in smaller offices are given credits for Uber Eats or Grubhub, intended for meals delivered to the office. Smaller Meta offices typically provide daily allowances of $20 for breakfast, $25 for lunch, and $25 for dinner, issued in $25 increments. However, the company fired two dozen employees after discovering they had used these meal credits to purchase household items.
18.10 / 06:29
markets
FIVE
Digital
DNA
Experts
PAM
hospital
Anti-Hindu DNA: Union Minister Giriraj Singh attacks Akhilesh Yadav for silence on Bahraich incident
Giriraj Singh on Friday took a dig at Samajwadi Party chief Akhilesh Yadav for his silence on the Bahraich incident, suggesting that the SP leader refrained from commenting on the matter to protect Muslim votes and claiming that his stance reflected his «anti-Hindu» DNA. Giriraj Singh claimed that Akhilesh Yadav's DNA is (Hindu Virodhi) «anti-Hindu» since his late father and former UP Chief Minister Mulayam Singh Yadav had also ordered police firing at Karsevaks in 1990. «Akhilesh Yadav did not utter a single word on Bahraich incident, just for the sake of votes. His DNA is anti-Hindu. His father Mulayam Singh Yadav also ordered firing at Karsevaks,» said Giriraj Singh.
18.10 / 06:29
markets
Digital
Enterprise
Healthcare
Experts
PAM
hospital
NCLAT closes insolvency proceedings against JHL as Max Healthcare settles creditor's claims
NCLAT) has closed the insolvency proceedings against Jaypee Healthcare after the financial creditors' dues were settled by Max Healthcare. The appellate tribunal's direction to close the Corporate Insolvency Resolution Process (CIRP) against Jaypee Healthcare Ltd (JHL) came after the financial creditor submitted that they had received the amount of Rs 1,035.29 crore as part of the settlement and no claim had survived. «In view of the fact that the entire claim has now been satisfied and the amount deposited has been disbursed, we see no reason to continue the CIRP any further,» said the NCLAT order passed on Thursday. CIRP against JHL was initiated by the Allahabad bench of the National Company Law Tribunal (NCLT) on June 14 this year, over a petition filed by its lead creditor JC Flowers Asset Reconstruction Ltd.
18.10 / 06:29
markets
Digital
Election
Experts
PAM
politician
Sea change in coastal belt: Once a Cong citadel, now a battleground for rival Senas
coastal belt, stretching from Mumbai to the southernmost district of Sindhudurg, was once a Congress citadel, but the party lost ground to the undivided Shiv Sena over the years. The coastal Konkan belt's economy was known to be dependent on money orders sent from Mumbai, where most of its residents migrated for work and business after Maharashtra achieved statehood in 1960. But the situation is no longer the same. The region accounts for 75 of the total 288 state assembly seats, including 36 in Mumbai, and is expected to play a key role in deciding which coalition — ruling Mahayuti or opposition Maha Vikas Aghadi (MVA) — governs Maharashtra after the November 20 polls. Former CM and BJP Lok Sabha MP from Ratnagiri-Sindhudurg Narayan Rane, who hails from the picturesque region, told PTI that Konkan has now become self-sufficient, thriving on exports of fish, mangoes and cashews.
18.10 / 04:05
markets
Digital
Strategy
Experts
PAM
performer
Best balanced advantage funds or dynamic asset allocation funds to invest in October 2024
Balanced advantage funds invest in a mix of stocks, debt, and arbitrage opportunities. These funds decide their equity exposure depending on key market ratios or in-house parameters. They invest less in stocks when the market is very high or valuations are stretched. They invest more in equity when stocks are available at attractive valuations. In short, BAFs do the job of juggling equity exposure for investors. Sure, these funds limit equity exposure based on valuations, but that doesn't make them totally safe. Don’t be under the illusion that balanced advantage funds are a safe investment. In fact, many mutual fund distributors make such claims. However, don’t be influenced by such talk. Any mutual fund scheme that invests in stocks can’t be considered as safe. It also cannot avoid volatility and losses totally. So, invest in balanced advantage funds only if you can tolerate the risk of investing in stocks. Also, invest only if you have an investment horizon of at least five years.
18.10 / 04:05
markets
Digital
Strategy
film
Experts
PAM
reports
‘Baahubali 3’ is in the works! Will Prabhas return in the titular role?
Baahubali 3’ is pretty much confirmed! If reports are to be believed, the third installment of the iconic fantasy series will be made. According to aTimes Of India report, ‘Baahubali 3’ has pretty much been confirmed. In a recent interview, Gnanavel Raja, the creator of the ‘Mahishmati Franchise’ spilled the beans. He said the movie is still in the planning stages, with recent discussions focused on developing new ideas. Unlike their previous back-to-back releases within two years, this time, the 'Baahubali' makers are allowing a longer break before working on the third installment. He elaborated that the filmmakers are deliberately pacing themselves to ensure that audiences have enough time to emotionally reconnect with the characters before diving into sequels. Raja also mentioned that the sequel to 'Kalki 2898 AD' will only come out after two other films are completed, and similarly, there will be a gap between 'Salaar 1' and 'Salaar 2'. He explained that this is a strategy proven effective in franchises like Suriya’s 'Singam' series, where spacing out sequels worked well.
18.10 / 03:51
markets
Strategy
DNA
Experts
PAM
track
How Israel took down 'Oct 7 attack architect' Yahya Sinwar in a bold unplanned operation
Yahya Sinwar on Wednesday. Intelligence services had been searching for Sinwar for months and had been gradually restricting the area where he could operate, the military said on Thursday, after dental records, fingerprints and DNA testing provided final confirmation of Sinwar's death. «The dozens of operations carried out by the IDF and the ISA over the last year, and in recent weeks in the area where he was eliminated, restricted Yahya Sinwar’s operational movement as he was pursued by the forces and led to his elimination,» the Israeli military said in a statement.
18.10 / 03:51
markets
Manufacturing
NVIDIA
Trade
Experts
PAM
Nvidia hits record high as chip stocks rally on TSMC's rosy AI-powered outlook
Nvidia hit a record high amid a rally in U.S. chip stocks on Thursday after industry bellwether TSMC's strong sales forecast boosted investor optimism about demand for processors used to power artificial intelligence applications. Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker, raised its expectation for annual revenue growth and said sales from AI chips would account for mid-teen percentage of its full-year revenue. US-listed TSMC shares rose more than 11%, lifting the company's market capitalization above $1 trillion.
18.10 / 00:19
markets
Digital
Action
Sustainability
Experts
PAM
RBI bans four finance companies from sanctioning and disbursing new loans
finance companies, including Sachin Bansal-led Navi Finserv and Mitsubishi UFJ Financial Group-backed DMI Finance, from sanctioning and disbursing new loans as they were found to be charging excessive interest rates. This follows a warning by the RBI governor earlier this month over such practices. The other two companies are Manappuram Finance-promoted Asirvad Micro Finance Ltd and Kolkata-based MFI Arohan Financial Services Ltd. The RBI’s directive comes into effect from the close of business on October 21, the central bank said in a statement on Thursday. “Unfair and usurious practices continued to be seen during the course of onsite examinations as well as from the data collected and analysed offsite,” the RBI said. The action comes less than 10 days after central bank governor Shaktikanta Das warned some non-banking finance companies (NBFCs), microfinance companies (MFCs) and housing finance companies (HFCs) against “aggressively pursuing growth without building up sustainable business practices.”
18.10 / 00:19
markets
UPS
Digital
Experts
PAM
Schools
IBC may get a voluntary group insolvency mechanism soon
group insolvency framework under the bankruptcy law. This will facilitate a joint resolution of stressed entities of a domestic corporate group, given the interconnected nature of their operations, people aware of the development said. The framework will be a part of Insolvency & Bankruptcy Code (IBC) amendments that the corporate affairs ministry could introduce in the winter session of Parliament, likely in December, they said. The mechanism could empower the committees of creditors of various bankrupt companies of a group to decide if they need to join hands to speed up resolution and maximise gains or pursue the processes separately, they told ET. It will apply only to a group’s bankrupt companies and won’t extend to its solvent entities, they said.
18.10 / 00:19
markets
Digital
Charity
Experts
PAM
social
Schools
Ratan Tata trusted friend, half-sisters to execute his will
Ratan Tata named lawyer Darius Khambata and close friend and associate Mehli Mistry as executors of his will, along with half-sisters Shireen and Deanna Jejeebhoy, according to executives with knowledge of the matter. Tata died on October 9 at the age of 86, with half-brother Noel Tata succeeding him as Tata Trusts chairman. Ratan Tata held a 0.83% stake in Tata Sons and had a net worth of Rs 7,900 crore, according to the Hurun India Rich List 2024. He was always keen that a significant portion of his wealth go to charity and the welfare of society.
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