Provident Financial News

Telecom Regulatory Authority of India (TRAI) has recommended to the Ministry of Information and Broadcasting (MIB) that the government should discontinue charging direct-to-home (DTH) operators a licence fee after the fiscal year 2026–2027 to ensure the sector remains viable in the long-term. In its recommendations titled ‘Licence Fee and Policy Matters of DTH Services’, the TRAI has suggested that the licence fee for DTH operators should be brought down to zero in the next three years. The TRAI contended that the DTH platforms should be treated at par with other regulated and unregulated distribution platforms like multi-system operators (MSOs), headend in the sky (HITS) operators, IPTV providers, DD Free Dish, and OTT services that don’t pay any licence fee. In the last few years, the DTH sector has been losing ground to DD Free Dish, the free DTH platform of Prasar Bharati, and OTT platforms. As of March 2023, the active subscriber base of the four pay DTH platforms stood at 65.25 million. Reacting to the TRAI's recommendations, a DishTV spokesperson said, «The issue of consideration of the DTH license fee has been pending for a long time.

BRICS Summit: Prime Minister Narendra Modi will leave for South Africa on Tuesday to participate in the 15th BRICS summit, a grouping of the world economies of Brazil, Russia, India, China, and South Africa. The summit will take place from August 22 to August 24.

The Monetary Authority of Singapore (MAS) has granted a Major Payment Institution License (MPI) to the popular cryptocurrency exchange Blockchain.com. With this license, the platform will be able to provide digital payment token services to institutional and accredited investors. On August 7, 2023, it was disclosed that the application had been approved, and on August 1, 2023, the license was issued.

Perth-based engineering group Monadelphous expects to secure more resources and energy contracts after its annual net profit rose 2.5 per cent to $53.5 million, boosted by higher income from a renewable energy joint venture.

Respiratory Syncytial Virus (RSV) in their babies. The Pfizer shot, which was already approved for use in older adults, has now been greenlighted for use as a single injection from 32 through 36 weeks of pregnancy, to protect infants from birth through six months, a statement by the Food and Drug Administration said. It is the latest in a succession of medicines recently approved against the common microbe, which causes tens of thousands of hospitalizations among infants and the elderly in the United States every year, according to official estimates. Researchers have targeted an RSV vaccine since the 1960s, but the spate of shots that are emerging now were made possible thanks to a scientific breakthrough a decade ago. «RSV is a common cause of illness in children, and infants are among those at highest risk for severe disease, which can lead to hospitalization,» said Peter Marks, director of the FDA's Center for Biologics Evaluation and Research. «This approval provides an option for healthcare providers and pregnant individuals to protect infants from this potentially life-threatening disease.» The approval follows a clinical trial involving some 7,000 pregnant women, which showed Pfizer's vaccine, called Abrysvo, reduced severe disease caused by RSV by 82 percent in babies from 0-3 months, and 69 percent from 0-6 months. Abrysvo was previously approved by the FDA for adults aged 60 and over, as was another vaccine by drugmaker GSK, called Arexvy. While RSV most often causes mild, cold-like symptoms in infants and young children, it can also lead to more serious outcomes such as pneumonia and bronchiolitis. An estimated 58,000-80,000 children younger than five years are hospitalized due to RSV infection, according to

US court has ordered a stay on the extradition of Pakistani-origin Canadian businessman Tahawwur Rana, to India where he is facing a trial for his involvement in the 2008 Mumbai terror attack. Rana has appealed before the Ninth Circuit Court against the order by a US District Court in the Central District of California that denied the writ of habeas corpus. District Judge Dale S.

Also Read: SoftBank sells its stake in IPO-bound FirstCry for ₹435 crore A successful debut by Arm would provide a windfall for SoftBank founder Masayoshi Son, whose Vision Fund lost a record $30 billion last year. It could also spur dozens of startups to pursue — or further delay — their own IPO plans. That includes companies like online grocery-delivery firm Instacart Inc.

Prime Minister Narendra Modi will leave for South Africa on Tuesday to participate in the 15th BRICS summit. It is a grouping of the world economies of Brazil, Russia, India, China, and South Africa. The BRICS summit will be held from August 22-24.

KPMG’s boss has told his troops it was regrettable the consulting giant improperly shared sensitive Defence information, and called on them to “deliver high quality work and value for money” as he rejected overcharging allegations.

Jio Financial Services fell 5% on debut Monday amid expectations of a flood of sale orders from passive funds which can't hold the shares anymore. But the company is confident of making strides in lending business with the best of technology. The shares which listed earlier than anticipated fell to ₹251.75 on the BSE, giving it a market value of ₹1.6 lakh crore, after opening trade at ₹265 apiece.

A class action complaint has been filed against Fenwick & West, LLP («Fenwick»), a prominent law firm, in the United States District Court, Northern District of California, San Francisco Division, on August 7, 2023. The complaint alleges Fenwick's involvement in the FTX disaster, described as «the largest financial fraud in US history.»

Coles chief executive Leah Weckert says fresh produce prices are falling, even as baked goods, grocery items and dairy products remain expensive.

The non-fungible token (NFT) market has been a subject of intense scrutiny and interest, with top NFT traders realizing substantial profits. A recent study by CoinGecko, published on August 4, 2023, sheds light on the investment returns of the top NFT traders on the Ethereum blockchain.

National Cinema Day, set for this Sunday, August 27, featuring discounted movie tickets across 3,000 participating theaters and 30,000 screens. The event offers admission to all movies and formats for a maximum price of $4. Last year's edition, held on September 3 during the Labor Day weekend, drew 8.1 million attendees to theaters, generating $24 million in revenue – an 8% increase from the previous Saturday and the most attended movie day of 2022. Despite ongoing challenges from the slow recovery due to Covid, the event provided a boost to the cinema industry. The event will showcase various movies, including recent releases and re-releases. Notable releases for Cinema Day include The Hill, Golda, Gran Turismo: Based on a True Story, Retribution and Bottoms. These films will join popular hits like Teenage Mutant Ninja Turtles: Mutant Mayhem, Oppenheimer, Barbie and Sound of Freedom. Additionally, re-releases like American Graffiti, Jurassic Park (3D) and Greta Gerwig’s 2017 Lady Bird from A24 will be screened. Jackie Brenneman, president of The Cinema Foundation, expressed enthusiasm for the event, encouraging people to relish the experience of cinema. She highlighted the significant participation of exhibitors and distributors with movies in the market, emphasizing the collaborative effort behind the event. Michael O’Leary, CEO of NATO, stated that movies possess the ability to bring people together and create a shared experience on the big screen. He acknowledged the importance of celebrating the moviegoing experience and the vital role of theaters within communities.

An SEC case against a Massachusetts advisor has big implications for the regulator’s oversight of insurance products, a law firm cautioned in a brief filed Monday with the federal court.

An SEC enforcement action against Titan Global Capital Management USA highlights the dangers investment advisors face when using hypothetical returns in their advertising, compliance experts said Monday.

BNB, the tokens that powers the Binance Smart Chain or BNB Chain, fell to its lowest level since July 2022 under $210 on Monday.

By Tatiana Bautzer and Saeed Azhar

New Delhi: In view of newer emerging variants of covid-19 across the globe, PK Mishra, Principal Secretary to Prime Minister chaired a high-level meeting to review current covid-19 status and its preparedness. States/UTs have been directed to monitor trends of Influenza like Illnesses ILI/ severe acute respiratory infections (SARI) cases, send sufficient samples for testing of Covid-19 testing and whole genome sequencing.

Australia’s largest integrated provider ofcancer care, Icon Group, backed by private equity firm EQT, is expanding its services into the UK after penning a new deal with Nuffield Health, the nation’s biggest healthcare charity.

Just as Goldman Sachs is looking to sell the remnants of United Capital Financial Partners, his old firm, Joe Duran is gingerly taking steps to reenter the registered investment advisor industry.