Progressive Financial News

Shiv Sena, and demanded a timeline for the same by Tuesday. If the speaker fails to give a timeline by then, the bench will have to pass a «pre-emptory order» directing the speaker to decide on the disqualification pleas «within a time frame», a bench headed by Chief Justice of India (CJI) D Y Chandrachud said on Friday. It is a «matter of concern» that the order of the Supreme Court is not being implemented, the CJI observed verbally, and said the speaker is «duty bound» to comply with the directions of the top court. The «dignity» of the court must be maintained, he added. Expressing strong dissatisfaction with the slow progress in the proceedings before the speaker, the CJI observed that the bench had in July issued notice on a plea filed by Uddhav Thackeray faction of the Shiv Sena seeking directions to the speaker to set a schedule for deciding the disqualification pleas.

Malaysian Prime Minister Anwar Ibrahim says subsidies will be progressively cut and new taxes launched next year as part of the 2024 federal budget

With retirement just around the corner, a significant group of Americans have less saved for their post-working years than they need.

When US banks kick off the third-quarter earnings season Friday, it will mark the first in a long line of hurdles the group needs to clear in order to assuage investor fears.

Also Read: Stocks to buy: Zomato, Nykaa, PB Fintech among JM Financial’s top picks in internet sector ahead of Q2 results Among the infra stocks, Centrum Broking has a Buy rating on G R Infraprojects, HG Infra Engineering, KNR Constructions and PNC Infratech. Centrum Broking builds in 5% and 2% YoY increase in Revenue and PAT for GR Infraprojects on account of weak order inflow in FY23. The order inflow momentum has not picked up yet with only 2 order wins aggregating to ₹1,820 crore, YTDFY24.

Union Ministry of Finance, spearheaded two crucial meetings on October 12, aimed at expediting the implementation of the Pradhan Mantri Vishwakarma Scheme. The meetings took place at the Regional Office of the National Bank for Agriculture and Rural Development (NABARD) in Chandigarh and included officials from the states of Punjab, Haryana, and the Union Territory of Chandigarh, read the Ministry of Finance press release. These discussions revolved around the imperative need to ensure a seamless and efficient implementation of the Pradhan Mantri Vishwakarma Scheme to extend its benefits to artisans and craftsmen engaged in traditional trades. The scheme seeks to provide comprehensive support to individuals involved in 18 identified trades. This support includes access to skill training, collateral-free credit, modern tools, market linkage assistance, and incentives for digital transactions.

G20 nations on Thursday called for swift and coordinated implementation of the G20 roadmap to deal with the issues related to the crypto assets. The G20 Roadmap on Crypto Assets adopted by the G20 Finance Ministers was spelt out in a Synthesis Paper prepared jointly by the International Monetary Fund (IMF) and Financial Stability Board (FSB). «We adopt the roadmap proposed in the Synthesis Paper as a G20 Roadmap on Crypto Assets. We call for swift and coordinated implementation of the G20 Roadmap, including implementation of policy frameworks; outreach beyond G20 jurisdictions; global coordination, cooperation and information sharing; and addressing data gaps,» said a communique issued during the fourth meeting of the FMCBG. The G20 Roadmap on crypto assets is a detailed and action-oriented roadmap that will help coordinate global policy as well as develop mitigating strategies and regulations on such assets while also taking into consideration the specific implications on Emerging Markets and Developing Economies (EMDEs). The Finance Ministers and Central Bank Governors (FMCBG) communique drew guidance from the G20 New Delhi Leaders Declaration (NDLD) and benefited significantly from the consensus that was reached at the Leaders' Summit last month, a press statement issued by the finance ministry said.

Blinken on Friday began a tour of Arab capitals as he seeks to build pressure on Hamas while Israel readies a likely massive offensive on the Gaza Strip following the militants' attacks. The top US diplomat will meet Jordan's King Abdullah II, a longtime US partner, and Palestinian president Mahmud Abbas in Amman and will then visit Qatar, Saudi Arabia, Egypt and the United Arab Emirates. Blinken spent Thursday in Tel Aviv where he promised unwavering solidarity to US ally Israel after the surprise October 7 offensive by Hamas, who killed over 1,200 people and took about 150 more hostage. The United States has publicly blessed reprisals by Israel, which on Friday called for the immediate relocation of 1.1 million people in the Hamas-ruled Gaza Strip, which is already under an Israeli blockade. Israel has killed more than 1,400 people in strikes in the Gaza Strip since the Hamas attack and has cut off food, water and electricity. Qatar, where Blinken will head immediately after Jordan, has longstanding ties with Hamas and has been seen as an intermediary in freeing the hostages. «We'll continue pressing countries to help prevent the conflict from spreading, and to use their leverage with Hamas to immediately and unconditionally release the hostages,» Blinken said late Thursday in Tel Aviv. «We'll also discuss how we can continue to make real our affirmative vision for a region that's more peaceful, more prosperous, more secure, more integrated. »In fact, that is the choice, and the choice in some ways has been made even more stark by the actions of Hamas." Saudi Arabia in the weeks before the attacks had spoken of progress in US-led diplomacy to normalise relations with Israel — a landmark step for the

Indian Venture and Alternate Capital Association (IVCA) in partnership with the Centre for Business Innovation (CBI) at the Indian School of Business (ISB) has announced a launch of a training programme for PE/VC fund managers. This programme is designed specifically to address the needs of professionals appointed by private capital funds on the board of ‘early to growth’ stage companies.

Federation Council of the Federal Assembly of the Russian Federation (the Upper House of the Russian parliament), led by Speaker Valentina Matvienko, arrived in New Delhi on Friday to participate in the 9th G20 Parliamentary Speakers' Summit (P20). The delegation includes First Deputy Speaker of the Federation Council Andrei Turchak, Deputy Speaker of the Federation Council Konstantin Kosachev and Member of the Federation Council Committee on Agricultural and Food Policy and Environmental Management, Tatyana Gigel, as well as members of the Duma. The theme of the event this year is «Parliaments for One Earth, One family, One future». The forum programme includes four sections — 'Agenda 2030 for SDGs: Showcasing Achievements, Accelerating Progress', 'Sustainable Energy Transition — Gateway to Green Future', 'Mainstreaming Gender Equality — From Women's Empowerment to Women Led Development' and 'Transformation in Peoples' Lives through Public Digital Platforms'. During the visit, the Russian delegates will also hold talks with the Indian representatives. At the conclusion of the 9th G20 Parliamentary Speakers' Summit (P20), a joint final statement is to be adopted.

It appears Rugby Australia’s funding efforts have progressed well into the second half.

Bruce Willis, celebrated for his roles in films like «Die Hard,» is facing a challenging battle with dementia. The 68-year-old actor received a diagnosis of frontotemporal dementia (FTD) earlier this year, following earlier revelations about his health issues.

Sri Lanka says that it has reached an agreement on key terms and principles on its debt restructuring with the Exim Bank of China

PM Gati Shakti National Master Plan for multi-modal connectivity, helping their progress by ensuring speedy clearances and removing bottlenecks. As PM Gati Shakti completes two years on Friday, the Ministry of Commerce and Industry has prepared a performance report card outlining the significant improvement in ease of doing business and ease of living since its launch. As per the analysis, the initiative has significantly improved the ease of doing business by bringing down the pre-alignment finalisation time for infrastructure projects from three-four months earlier to one month now.

Edward Coram-James, the CEO of Go Up PR agency with a specialization in crisis management, suggests that Holly's departure may have been inevitable, irrespective of recent controversies that have entangled the show. As Holly embarks on her new journey, Edward Coram-James has outlined what he envisions for the versatile star's future career. He believes that Holly, renowned for her intelligence and astuteness, is keen on transitioning towards endeavors that are more future-proof.

Domestic consumption and investment demand will continue to drive growth though global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in the coming months, finance minister Nirmala Sitharaman said Thursday. The finance minister also added that the situation warrants greater vigilance by the government and Reserve Bank. Calling for timely consensus on the transformation of the World Bank for accelerating progress towards the achievement of the 2030 Sustainable Development Goals (SDGs), Sitharaman during her in her address at the meeting of the World Bank's Development Committee, said, «The government has already taken pre-emptive measures to restrain food inflation which is likely to subside price pressure in the market soon.» The body is a joint ministerial committee of the boards of governors of the World Bank and the International Monetary Fund on the transfer of real resources to developing countries. She said the external sector required a closer watch, observing that the global economic landscape was still marked by unprecedented challenges to economic growth and stability. Sitharaman said India's growth prospects remain strong, and domestic economic activity is maintaining resilience with a healthy balance sheet of the private sector and increased capex spending of the government, crowding in private investment. On Tuesday, the IMF raised India's real GDP growth forecast for FY24 to 6.3% from 6.1%. Forecasts by other international organisations are higher, Sitharaman said, adding the robustness of domestic investment is the result of the government's continued emphasis on capital expenditure, which is expected to drive growth in the coming years. Given the

NFL player Sergio Brown, missing since his mother's tragic death last month, has been apprehended and is set to face first-degree murder charges related to the killing of his 73-year-old mother, Myrtle Brown. The arrest warrant was issued by Maywood, Illinois police, and Brown, who was found in Mexico, is awaiting extradition from San Diego, California, to Illinois.

Sectorally, buying was seen in oil & gas, energy, metal, and auto stocks while IT, realty, and capital goods stocks saw some selling. Stocks that were in focus on Thursday include names like PCBL (which rose nearly 4%), TVS Motor Company (which closed with gains of about 3%) and Nippon Life Asset Manager (which was up more than 8%). We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Viraj Vyas CMT, CFTe |Technical & Derivatives Analyst| Institutional Equity, Ashika Stock Broking Limited: PCBL (All Time): The stock, a major player in the specialty chemicals sector, underwent an extensive period of price and time correction starting in 2018. Notably, the stock has formed a Cup and Handle pattern, and the breakout occurred in June. The stock is currently on an upward trajectory, and when a breakout follows from such a substantial base, it often leads to powerful trending movements. The stock is anticipated to reach levels around Rs 240-245, with a significant support level observed at Rs 190. TVS Motor (All Time) The stock has displayed impressive performance since the beginning of 2022, and it is currently trading near its all-time highs. This boost is attributed to robust sales figures and the festive season, which traditionally favors the auto sector. The stock continues to form a pattern of Higher Highs and Higher Lows, indicating its bullish trajectory.

Taiwan has repeatedly pushed for the conclusion of a Bilateral Investment Agreement (BIA) with the EU, saying it would help encourage more Taiwanese investment, especially from chip companies.

A Democrat on the US Securities and Exchange Commission is warning that syndicated loans sold widely to investors are stoking risks to the broader financial system.

IEA) on Thursday lowered its forecast for growth in oil demand in 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. In its monthly report, the IEA forecast demand for oil will rise by 880,000 barrels per day (bpd) in 2024, down from its previous forecast of 1 million bpd, based on broader economic concerns and a faster adoption of electric vehicles among other energy efficiency measures. However, the Paris-based agency that advises the United States and other industrialised countries, raised its 2023 demand forecast to 2.3 million bpd, from a previous estimate of 2.2 million. OPEC and its allies, known as OPEC+, began limiting supplies in 2022 to support prices. In September, global benchmark Brent hit 10-month highs after Saudi Arabia and Russia extended their combined 1.3 million bpd cuts until the end of the year. «If extra cuts are unwound in January, the balance could shift to surplus, which would go some way to help replenish depleted inventories,» the agency said. Although Russia pledged to cut crude exports until the end of 2023, according to the IEA's estimates Moscow's total exports of crude oil and products in September rose by 460,000 bpd to 7.6 million bpd, with crude accounting for 250,000 bpd of the increase. The jump in exports highlights the difficulty the West has faced in trying to reduce Russian exports and revenue to Moscow amid its war with Ukraine. Last year, the IEA predicted harsh Western sanctions would lead to a collapse in Russian energy exports. ECONOMIC HEADWINDS, GEOPOLITICAL RISK Oil prices fell sharply last week as a darkening economic outlook intensified fears of slower growth in demand, eclipsing supply concerns.