Provident Financial News

Grip’s RFQ implementation aligns with SEBI’s goal to boost liquidity in the debt securities market in India. SEBI’s RFQ mechanism effectively addresses challenges, including delayed securities transfers and large initial capital requirements, for debt securities allowing a secure and efficient means to invest in fixed-income instruments for investors.

Thanks to the recent drop in bond yields and the dollar, both gold and silver are continuing to make back lost ground. The metals have been further supported by raised geopolitical risks, highlighted by gold’s breakaway gap at this week’s Asian open. The focus will remain on the dollar and yields with the release of key US inflation data today.

By Balazs Koranyi and Francesco Canepa

Delhi Metro has rolled out a QR code ticketing option via the Paytm app on all its lines, as announced by officials on Thursday. This expansion of the innovative service was inaugurated by Vikas Kumar, the Managing Director of Delhi Metro Rail Corporation (DMRC), according to an official statement. With this new feature, commuters can now get the mobile QR ticket on the Paytm app under the 'Delhi Metro' section, by simply entering the station of entry and destination on the day of the journey, it said. Passengers can just hold their smartphone in front of the QR code scanner of the Automatic Fare Collection (AFC) gates at both entry and exit stations to proceed with the journey.

Wipro Pari, the industrial automation business of Wipro Enterprises, announced it has signed a definitive agreement to acquire a significant majority share capital of Ferretto Automation and Services, a subsidiary of Ferretto Group based in San Polo — Reggio Emilia, Italy. Ferretto Group continues to hold a minority participation in the project; Riccardo Ferretto will be the chairman and managing director of the new company and will be responsible for the overall business activities. “Our industrial automation business has grown significantly in the last five years. We are already an acknowledged market leader in providing turnkey automation solutions for global automotive OEMs specifically in the emerging BEV – Battery Electric Vehicles and HFCV – Hydrogen Fuel Cell Vehicles.

The Cardano price has declined by nearly 1% today, weakening to $0.245331 as the wider market experiences a 1.5% dip in the past 24 hours.

 Federal Reserve Bank of Chicago President Austan Goolsbee provides insight on the state of the U.S. economy on 'Making Money.'

Nirmala Sitharaman on Thursday met Brazil's Minister of Economy Fernando Haddad and discussed various issues of mutual interest, including the strengthening of Multilateral Development Banks (MDBs). She also met UK Chancellor of Exchequer Jeremy Hunt and discussed Bilateral Investment Treaty among other issues.

Karnataka, state’s Industries Minister MB Patil and IT/BT Minister Priyank Kharge said on Thursday. The ministers shared details of their interactions with top executives during their recent US tour at a media conference. Some of these companies were already in the process of investing about $ 1 billion in the state.

External Affairs Minister S Jaishankar has been upgraded from the 'Y' category to 'Z', official sources said on Thursday. The Union home ministry has asked the Central Reserve Police Force (CRPF) to take the charge of his security, currently provided by the Delhi Police, they said.

Saudi Arabia said on Thursday it was investigating reports of grim conditions for migrant workers at Amazon warehouses in the kingdom, denouncing all labour abuse and exploitation as «unacceptable». The human resources and social development ministry said in a statement to AFP that the investigation began before Amnesty International this week reported that Nepalese Amazon workers in Saudi Arabia had suffered «appalling» living conditions, on-the-job safety risks and wage theft. «Any form of labour abuse or exploitation is unacceptable and is comprehensively investigated by the relevant Saudi authorities,» the statement said. «The distressing reports outlined in this case are already the subject of an ongoing investigation.» The Amnesty report published on Tuesday drew from the accounts of 22 men who had worked in warehouses in Riyadh or the Red Sea city of Jeddah going back to 2021. The London-based human rights group accused recruitment agents and two Saudi labour supply companies of deceiving migrant workers who thought they would be employed directly by Amazon and took out steep loans to pay recruitment fees. Upon arrival in Saudi Arabia they encountered «dirty and overcrowded accommodation, sometimes infested with bed bugs» as well as «gruelling» working conditions marked by constant monitoring and inadequate rest, sometimes resulting in injury, Amnesty said. The abuses were so severe they likely amounted to "human trafficking for the purposes of labour exploitation", Amnesty said. The kingdom's «kafala» sponsorship system for foreign workers meant the labourers struggled to leave the warehouse jobs and risked possible arrest for «absconding», Amnesty said, adding that «a few contemplated suicide». Saudi

As artificial intelligence makes advances in all industries, one company has announced a flagship AI-driven product that will help financial firms with compliance protocols.

Congress general secretary Priyanka Gandhi Vadra on Thursday promised free education up to Class 12 and allowance for school children in poll-bound Madhya Pradesh. Speaking at a rally in the tribal-dominated Mandla district ahead of the November 17 assembly elections, she also reiterated the promise of caste census, claiming that the Other Backward Classes (OBCs) and tribals are not getting jobs in commensurate with their share in the population. «Recently, Bihar conducted a caste census and it was revealed that 84 per cent of the people belong to OBC, SC (Scheduled Castes) and ST (Scheduled Tribes) categories in the state.

Investing.com -- U.S.-listed shares in Infosys (NYSE:INFY) fell in premarket trading on Thursday after the Indian software-services exporter slashed the upper end of its full-year revenue growth outlook.

Israel on Friday, said MEA spokesperson Arindam Bagchi during the weekly press conference on Wednesday. «Yesterday, operation Ajay was launched to facilitate our citizens who wish to come back. The first flight will reach Tel Aviv tonight and is likely to reach India tomorrow,» said Bagchi. India on Thursday launched 'Operation Ajay' to facilitate the return of Indians from Israel who wish to come back home.

K P Energy has bagged an order for setting up Balance of Plant of 23.1 MW wind energy project from Aditya Birla Renewables. However, the company did not disclose the value of the order.

Here's a comprehensive look at the highlights and key takeaways: The event opened with a powerful statement by the moderator, Shivananda Shetty, Partner & Lead ESG, KPMG India, who said, «The ESG data is subject to the same scrutiny as the financial data by stakeholders and it is imperative for organizations to have a similar governance structure in place”. This statement served as a prelude to the subsequent discussions. During the webinar, prominent industry leaders provided invaluable insights into the complexities of ESG data.

Hillhouse, the investment firm started with backing from Yale University’s endowment, is preparing to pitch a new Asia-focused private credit fund to international investors as the asset class continues to grow in the region.

Less than 10% of financial advisors in the U.S. are from Hispanic backgrounds, according to estimates, but what can the industry do to change the stats?

The SEC ordered a Delaware investment advisory firm to pay $1.3 million to settle charges that it placed clients in expensive mutual fund share classes without disclosing related conflicts of interest.

By Andrea Shalal