Progressive Financial News

Ram Lalla in his birth place in Ayodhya and the temple's 'Pran Pratishtha' ceremony will be the beginning of the campaign for «reconstruction of Bharatvarsh» which is for harmony, unity, progress, peace and well-being of everyone, RSS chief Mohan Bhagwat said on Sunday. In an article posted on the Rashtriya Swayamsevak Sangh's (RSS) website, Bhagwat referred to the «continuous struggle of the Hindu society» for the construction of the temple in Ayodhya and said the «conflict and bitterness» over the dispute should now come to an end. After years of legal struggle, the Supreme Court pronounced a «balanced» verdict on November 9, 2019, after examining «the truth and facts» and also hearing the arguments of all the parties in the case, he said.

Ahmedabad-Mumbai bullet train project, the Chief Representative of JICA India, Saito Mitsunori, said that the PM Gati Shakti plan has accelerated public works in the country. In an interview with PTI, Mitsunori also expressed Japan's interest in enhancing India's border road networks and participating in the transnational power transmission project with Bhutan, Nepal and Bangladesh.

Prime Minister Narendra Modi on Sunday remarked on the significant advancements in the health sector in Gujarat, highlighting the state's current status as a prominent medical hub in India. Prime Minister Modi shared his remarks virtually at the foundation stone laying ceremony of Khodaldham Trust Cancer Hospital in Gujarat. He said, “For public welfare, Shree Khodaldham Trust has taken a step forward.

Samagra Shikshana Karnataka (SSK), Bangalore and Transform Schools signed a three-year MoU to scale the Marusinchana programme for providing targeted instruction model-based education statewide. The Karnataka government has launched a new education scheme, Marusinchana programme, to providing quality education and improve Class 10 board exam results. “Marusinchana announced in Karnataka State Budget 2023, aims to develop grade appropriate learning outcomes among children in classes 8, 9 and 10 in all aspirational talukas and prepare them for secondary level examinations through special classroom instruction and training,” State Project Director of Samagra Shikshana, K N Ramesh (IAS) said In partnership with Transform Schools, the integrated three year learning enhancement programme will focus on developing learning outcomes for children at the secondary school level.

Kuki and Meitei communities last year, is yet to be graced by the presence of the Prime Minister. Notably, sporadic incidences of violence and subsequent deaths are still reported from Manipur. The Statehood Day of Manipur, Meghalaya, and Tripura is celebrated on January 21.

President of the United Nations General Assembly Dennis Francis is undertaking an official visit to India from January 22 to 26 during which he will visit New Delhi, Jaipur and Mumbai and also meet External Affairs Minister S Jaishankar, according to an official statement issued by his office. During his five-day trip, Francis will hold bilateral discussions with the India leadership and engage with civil society, leading think tanks, embark on field visits and participate in events related to sustainability, multilateralism, accessibility, and digital public infrastructure, among other engagements.

Olympic medal hopes from badminton have always been resting on the shoulders of its women players. They were, expectedly, realised too. Saina Nehwal brought home the first one in 2012 and Sindhu two, in 2016 and 2020 respectively.

Tron 3 is happening! Wait has ended for the fans of the Tron franchise as the filming for the long-awaited and postponed third installment of the cult classic by Disney has officially began. The film Tron: Ares will be following up on the story of Tron and Tron: Legacy coming out in the year 1982 and 2010. None of the earlier two Tron films were a box office success, but the movie franchise has been successful in the creation of a loyal fan base, with credits going to earlier than expected computer animations and graphics.

The New Tax Regime under Section 115BAC of the Income Tax Act 1961 was introduced with the objective of enhancing the number of electronic tax filings and bringing transparency in the Income Tax Returns. The statistics shared by the department recently show a huge growth in e-filings, but the irony is that a limited number of individuals have opted for the New Tax Regime. A total of 7.33 crore personal tax ITRs have been reported by the Department for the Assessment Year 2023-24 as against 6.86 crore in A.Y. 2022-23, marking a growth of 6.79%.

The Indian real estate sector has registered record-breaking growth numbers in 2023. Now, with the Union Budget 2024 around the corner, the real estate sector is hopeful of transformative reforms to be addressed in the announcements. By allocating resources and implementing favorable policies, the government has the potential to catalyze this sector, fostering job creation and stimulating economic activities.

By Andrea Shalal

Federal Reserve won't start easing policy until May, traders bet on Friday, capping a week during which stronger-than-expected economic data and commentary from central bankers chipped away at financial market confidence in the idea of an earlier start to interest-rate cuts. On Friday, a widely watched measure of consumer sentiment rose to its highest level in 2-1/2 years, and Chicago Fed President Austan Goolsbee said the U.S. central bank won't commit itself to rate cuts until it is surer that inflation is on track to a healthy 2%. Futures contracts that settle to the Fed's policy rate fell, and now reflect about a 47% chance of a Fed rate cut by March, down from 55% earlier in the day. Just a week ago the probability of an interest-rate cut in March from the current range of 5.25%-5.5% was seen at nearly 80%, reflecting faster-than-expected declines in inflation.

₹2,038 crore, compared to ₹2,157 crore in the year-ago period. For the nine months ended December 31, 2023, the firm's revenue declined 7 percent at ₹7,310 crore, compared to ₹7,866 crore in the year-ago period, the firm said in a regulatory filing.

₹200 crore ($24 million) from Zee. Compounding these challenges, Zee's business has experienced a downturn in recent months, partly attributed to escalated streaming costs. In December, acknowledging its inability to meet the deal closure deadline, the company's admission led Sony officials to express their readiness to abandon the agreement.

₹6,000 crore in Maharashtra. The Indian unit of the Korean carmaker announced the deal in March 2023. With the acquisition, Hyundai's production capacity is expected to surge to one million from more than 800,000 currently.

Zerodha co-founder, Nithin Kamath, recently shed light on the absence of IIT and IIM alumni among the stockbroker's employees. Speaking with Shekhar Tomar, Assistant Professor of Economics and Public Policy at the Indian School of Business (ISB), Kamath clarified that it's not a policy decision to exclude individuals from these prestigious institutions, but rather a result of historical financial constraints and cultural issues Kamath emphasized that Zerodha did not have the financial capacity to hire IIT and IIM graduates in its early years due to budget limitations. He clarified that the absence of alumni from these institutions in the company is not a deliberate policy but a reflection of the financial realities during the initial phases. According to Kamath, the company couldn't afford the price tag associated with hiring individuals from these elite institutions. He went on to explain the misalignment of priorities between Zerodha and business school students. Kamath highlighted the typical career objectives set by MBA graduates, emphasizing that these individuals often have clear goals and expectations about their career progression. Zerodha's business culture, established in its formative years, did not align with the structured career goals of business school graduates.

Hyundai Motor India on Friday said it has completed the acquisition of General Motors India's manufacturing plant at Talegaon in Maharashtra. The country's second-largest carmaker also announced that it will invest Rs 6,000 crore in Maharashtra as part of an agreement inked between the company and the state government in Davos. The acquisition of the Talegaon facility has been completed after the fulfilment of certain conditions and the receipt of regulatory approvals from relevant government authorities and relevant stakeholders, Hyundai Motor India said in a statement.

Himanta Biswa Sarma was trying to derail the Rahul Gandhi-led Bharat Jodo Nyay Yatra in the state, senior Congress leader Jairam Ramesh alleged on Friday morning. Ramesh, the party's general secretary, asserted that the Yatra will, however, continue with its itinerary in the state for another six days as scheduled. «It is abundantly clear that the Assam CM is rattled and is nervous by the tremendous response being received by the Bharat Jodo Nyay Yatra over the past 2 days in Assam,» he posted on X as the entourage reached Majuli island.

Bank of Canada governor Mark Carney issued a warning at the World Economic Forum that global supply shocks are becoming more persistent, forcing central bankers to adapt to tame inflation.Carney, who also previously led the Bank of England, spoke on a panel in Davos, Switzerland at the WEF summit Thursday about how central bankers ought to adapt their approaches for the modern economy.He said the current regime has been successful so far in taming the ongoing inflationary period, as some of the supply shocks following the height of the COVID-19 pandemic and Russia’s invasion of Ukraine have unwound and higher interest rates globally have limited demand in the world economy.But he warned that central bankers cannot rest on their laurels amid ongoing geopolitical tensions and a changing economic context.“We are in a world, I would suggest, where we are going to see additional supply shocks with some relatively high degree of certainty with some persistence,” Carney said.“Effectively, the world is being rewired.”Though Carney did not directly reference Houthi attacks in the Red Sea forcing companies to divert cargo away from the key shipping corridor, he said trade routes are being “rewired” to “derisk” global supply chains.Energy systems, too, are being rewired to address climate change concerns, Carney said.

The projected cost of replacing the aging nuclear missiles buried in silos across the Great Plains has soared by more than a third to $107 billion, the Pentagon said, a development that comes as China pushes ahead with an expansion of its arsenal. The problems at one of its priority programs put more pressure on the Pentagon’s funding for other programs as it wrestles with the prospect of cuts over the next several years unless Congress can agree on a broader budget deal.

Japan is set to attempt a soft landing on the moon's surface with the Smart Lander for Investigating Moon early Saturday morning (January 20). The country seeks to join the exclusive club of nations achieving a successful soft landing on the moon. The United States, Russia (erstwhile USSR), China, and India have accomplished this feat, leaving Japan eager to overcome its exclusion.