Provident Financial News

Gross domestic product rose only 0.1% in the three months through June, compared with a prior increase measured at 0.3% — an outcome that had surprised to the upside when first published in late July. Economists had anticipated that the reading would be repeated in fuller data, according to the median estimate in a Bloomberg survey. The report on Thursday will provide European Central Bank policymakers with harder evidence of the weakness taking hold in the euro-zone economy, a week before they prepare to decide whether another interest-rate increase is warranted to tame inflation. There was a worry at the last ECB meeting in July that stagflation may be threatening to take hold — a prospect that the new numbers may make more ominous.The remainder of the year looks similarly bleak, with PMI data signaling private-sector activity in contraction and surveys pointing to further anemic expansion of just 0.1% in the current quarter.

Deerpath Capital, a US-based lender, has tapped Australian superannuation funds and family offices for a potential $US2 billion ($3.1 billion) fundraising effort.

Elon Musk, the billionaire and CEO of multiple companies has often appealed to both Ukraine and Russia to stop war and find a peaceful solution to age-old problems. Musk has supported Ukraine by providing internet to Ukraine through its Starlink satellite system. However, a biography on Elon Musk, which is set to be released by Simon & Schuster on September 12, has highlighted how Musk prevented war nuclear war between Ukraine and Russia.

inflation in India may be close to a peak. A few weeks ago, retail inflation, i.e. the price rise impacting household budgets, hit a 15-month high of 7.44%.

G20 Summit. As reported by PTI, "the Chamber of Trade and Industry (CTI) has partnered with these women entrepreneurs, fashion designers, influencers, bloggers, salon and boutique owners who are fluent in languages such as English, French, Spanish and German to work as translators, its chairman Brijesh Goyal said. “These women will assist the traders of Chandani Chowk market in communicating with foreign visitors on September 8-10, he said.

Asian markets go into the final trading day of the week unable to escape the downbeat mood rooted in worries over high U.S. bond yields, a rampant dollar, China's economic funk and now the potential inflationary impact from spiking oil prices. Brent crude oil is now higher than it was a year ago, the first time since January that year-on-year price changes have been positive.

Asia Summit on Thursday that «the need of the hour is an Indo-Pacific where international law, including UNCLOS (United Nations Convention on the Law of the Sea), applies equally to all countries, where there is freedom of navigation and overflight, and where there is unimpeded lawful commerce for the benefit of all». He also addressed the India-Asean Summit in Jakarta, where he unveiled a 12-point plan across sectors ranging from connectivity to digital public infrastructure (DPI) and counter-terrorism. "India believes that the Code of Conduct should be effective for the South China Sea, be UNCLOS compliant and, in this, the interests of those countries which are not part of the discussions should also be kept in mind," the PM said. At the East Asia Summit, the PM pitched for everyone's commitment and joint efforts to strengthen the sovereignty and territorial integrity of all countries against the backdrop of China's increasing military assertiveness in the South China Sea.

G20 Summit, New Delhi's New Delhi district witnessed the implementation of strict traffic regulations on Friday morning. As reported by PTI citing officials, restrictions have been imposed on online delivery services, with the exception of medicines, within the vicinity of the G20 Summit venue and the hotels designated for the attending delegates.

President Joe Biden wants to show the world at the Group of 20 summit in India and during a stop in Vietnam that the United States and its like-minded allies are better economic and security partners than China. White House officials said Biden, who departed Thursday evening for New Delhi, will use the annual G20 gathering as an opportunity for the U.S. to highlight a proposition for developing and middle-income countries that would increase the lending power of the World Bank and International Monetary Fund by some $200 billion.

Indian stock market indices are likely to open on a tepid note following mixed cues from global peers. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading flat at around 19,785 level as compared to the Nifty futures’ previous close of 19,768.

The United States' decision to provide Ukraine with depleted uranium weapons has Russia fuming, labelling it as a "criminal act." This decision by the US has heightened tensions in the ongoing Ukraine crisis, and it raises concerns about the environmental and security implications. The Pentagon, the US defense department, announced a new security aid package worth up to $175 million for Ukraine. This package includes depleted uranium ammunition specifically meant for US Abrams tanks.

India's drug regulator has started collating and compiling the profiles of pharmaceutical plants in the country. The Drug Controller General of India (DCGI) has asked drug companies to provide details of each of their units operational in the country.

Apple Inc. is looking to stave off a crisis in China just days before the launch of its next iPhone, an already high-stakes event that will test whether new features can shake the smartphone industry out of the doldrums. The product unveiling, set to stream globally from the company’s headquarters on Tuesday, risks being overshadowed by multiple controversies in China — Apple’s largest international market.

nuclear attack submarine it has been developing for years, a step leader Kim Jong Un described as crucial in his efforts to build a nuclear-armed navy to counter the United States and its Asian allies. The North's official Korean Central News Agency said the vessel — named "Hero Kim Kun Ok" — is designed to launch tactical nuclear weapons from underwater but did not specify the number of missiles it could carry and fire. In his speeches at the vessel's launching ceremony on Wednesday and an onboard inspection on Thursday, Kim expressed satisfaction that the country has acquired its own nuclear attack submarine to counter the advanced naval assets of the U.S., KCNA said. In July, the U.S.

By Anant Chandak

ICICI Bank's proposed bid to delist its broking and investment bank arm might face opposition from a section of the shareholders. While some investors think the conditions to delist ICICI Securities do not favour public shareholders, lawyers are raising questions about the capital markets regulator Securities and Exchange Board of India's (Sebi) decision to grant some exemptions from the conventional delisting process. «The minority shareholders of ICICI Securities are being gravely wronged by the delisting, that is, besides being unfair in every sense (valuation, methodology & logic), defies the basic grain of propriety,» said Manu Rishi Gupta, founder of MRG Capital, a Bengaluru-based investment fund, in an open letter.

construction company EMS plans to raise ₹146 crore through a fresh issue of shares and up to ₹175 crore through an offer for sale. The company plans to use ₹101.2 crore to fund working capital requirements.

Natixis-backed corporate advisory firm Azure Capital has inducted a new name to its partnership ranks amid a round of promotions.

By Jamie McGeever

The NFL's highly anticipated 2023 season is about to kick off, and it's doing so with a captivating showdown. The reigning Super Bowl champions, the Chiefs, are taking center stage in the opening game. This matchup holds extra significance as it provides the Chiefs with the opportunity to celebrate their Super Bowl victory with a banner-raising ceremony at Arrowhead Stadium, where they'll host the game. In an unexpected twist, the Detroit Lions are set to face off against the Chiefs in Week 1's prime-time slot. The Lions, despite a 9-8 record in the 2022 season, concluded the year impressively by winning eight of their final ten games. Notably, they secured a victory over the Packers in Week 18, preventing Green Bay from making the postseason. With their strong finish last season, the Lions are entering 2023 with elevated expectations. They're considered favorites to clinch the NFC North and are anticipated to field a potent offense. It's no surprise that they were chosen to go head-to-head with the Chiefs, setting the stage for what could be a high-scoring thriller to kick off the NFL season.

Argentina as they prepare to face Ecuador in CONMEBOL qualifiers this Thursday, September 8. Argentina, fresh off their World Cup victory, faces high expectations, especially with Lionel Messi performing exceptionally well for Inter Miami. With Messi's presence in Major League Soccer, the national team will also have Thiago Almada and Alan Velasco representing MLS. The expanded World Cup format for 2026 will see six South American teams qualify directly, providing Coach Lionel Scaloni with the opportunity to experiment with player rotations and assess talent that might not usually receive a chance.