Provident Financial News

Canva Inc. acquired the Affinity suite of creative software popular with Mac users, securing its biggest acquisition to date in an effort to compete with Adobe Inc. The deal, which is a mix of cash and stock, is valued at “several hundred million pounds,” Canva cofounder and chief operating officer Cliff Obrecht said in an interview with Bloomberg on Monday. It’s the biggest outlay yet by Australia’s most valuable startup, priced at $26 billion in its latest share sale, and marks a milestone in the expansion of its range of professional tools.

Arvind Kejriwal challenging his arrest by the Enforcement Directorate (ED) in a money-laundering case associated with the alleged excise policy scam. Kejriwal's plea, seeking immediate release due to the purportedly "illegal" nature of his arrest and subsequent remand to the ED, will be addressed before Justice Swarana Kanta Sharma at 10:30 am. The Aam Aadmi Party (AAP) national convener was apprehended on March 21 and subsequently detained in the ED's custody until March 28 by a Delhi court.

Angel One: On March 26, the company announced the launch of a Qualified Institutional Placement (QIP) issue with a base price of ₹2,555 per share, which is approximately 7% lower than the current market price. Today, Angel One's shares closed at ₹2,750 each on the NSE, marking a 3.36% increase. The company stated in an earlier stock exchange filing that the objective of this fundraising is to enhance financial flexibility, grow the business, and leverage emerging opportunities within the existing and growing broking business as well as the broader fintech space.

High Court ruling directing commercial banks to produce evidence to defaulting customers before invoking the master circular on wilful default will bring respite to small borrowers arm-twisted into settling loans, but it may also encourage large borrowers to go to courts and delay recovery, said industry experts. This landmark order delivered by the high court last week and the banking regulator's directive to banks that the defaulter be given an in-person hearing will significantly change the way banks tag borrowers as wilful, they added. A division bench comprising justices BP Colabawalla and Somasekhar Sundaresan issued the order in a case involving IL&FS director Milind Patel versus Union Bank of India.

MUMBAI : Employees of ICICI Bank reached out to small shareholders of ICICI Securities on the broking unit’s delisting vote that concluded on Tuesday, several investors who received the overtures said. Five shareholders said the ICICI Bank’s branch employees have called and made home visits persuading them not just to vote, but also to vote in favour of delisting. While all five got calls, only one got a home visit.

Also Read: Oil market oversupplied with record-high US output, Brent seen at $87-$92 for 2024: ShareKhan's Mohammed Imran Tighter Markets: Physical markets tightened following a seasonal pattern in February. However, the more significant driver for the uptick in prices was the decision by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to extend production cuts from March 2024 to June 2024.

fasting. The Paschal Triduum is the period of three days that begins with Maundy Thursday (last Supper of Jesus Christ), reaches its high point in the Easter Vigil, and closes with evening prayer on Easter Sunday. Members of many Christian denominations, including the Catholic, and the Eastern Orthodox, observe Good Friday with fasting and church services.

—Name withheld on request The legal fees that you are required to pay to the law firm situated in Dubai would be taxable in India under the provisions of the Income Tax Act, 1961 since such fees would qualify as “fees for technical services". However, the India-UAE DTAA (double taxation avoidance agreement) may provide benefit in your case if the services have been provided by the law firm directly from Dubai.

It’s with great pride and pleasure thatInvestmentNews presents its first-ever list of 5-Star Fund Providers.

Advisors’ assessments of their high-net-worth clients’ cash holdings can diverge wildly from the reality of those held-away liquid assets, which could spell a massive untapped opportunity, according to new research by Flourish.

NTPC on Tuesday said it has inked a pact with a Japanese agency for sourcing foreign currency loans of USD 200 million (JPY 30 billion or around Rs 1,650 crore)… Japan Bank for International Cooperation (JBIC), a government policy-based financial institution, will provide 60 per cent of the facility amount and the balance amount will be provided by other commercial banks under JBIC guarantee, a statement said. The agreements have been signed for a JPY 15 billion loan each for NTPC Ltd and NTPC Renewables Energy Ltd (NREL), it added. The facility has been extended under JBIC's initiative entitled 'Global action for Reconciling Economic growth and Environment preservation' («GREEN») for projects which ensure the conservation of the global environment…

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Federal prosecutors have charged KuCoin and founders Chnu Gan and Ke Tang with conspiring to operate an unlicensed money transmitting business and conspiring to violate the Bank Secrecy Act by willfully failing to maintain an adequate AML programme.Founded in 2017, KuCoin is one of the world's biggest crypto exchanges, with more than 30 million customers and daily trading volumes in the billions of dollars.Despite soliciting business from US customers and being aware of their AML obligations in the country, Gan, Tang and KuCoin "willfully chose to flout" its requirements, says a newly unsealed indictment.The company did not require customers to provide any identifying information until July 2023 when it finally rolled out a KYC programme after being told about a federal criminal investigation into its activities, say authorities. Even then, the KYC programme only applied to new customers.KuCoin also never filed any required suspicious activity reports, never registered with the CFTC as a futures commission merchant, and, through at least the end of 2023, never registered with FinCEN as a money transmitting business.In fact, says the indictment, Gan, Tang and KuCoin "affirmatively attempted to conceal the existence of KuCoin’s US customers" in order to make it appear as if the exchange was exempt from US AML and KYC requirements.

Alphabet Inc.’s Google is in advanced talks to buy a 22.5-acre land parcel in Navi Mumbai’s Juinagar for building its first-ever captive data centre in India, said people with direct knowledge of the development. California-headquartered Google is currently doing due diligence for the leasehold land parcel owned by the Maharashtra Industrial Development Corporation (MIDC). Lease rights of the plot that were originally allotted to Herdillia Chemicals are currently with Pune-based Gramercy Trade Industries. The potential deal is estimated at around Rs 850 crore given current property rates in the vicinity and MIDC’s transfer charges, said the people cited above.

Ukraine has sunk or disabled a third of all Russian warships in the Black Sea in just over two years of war, the navy spokesman said Tuesday, a heavy blow to Moscow's military capability. Ukraine's Navy spokesman Dmytro Pletenchuk told The Associated Press that the latest strike on Saturday night hit the Russian amphibious landing ship Kostiantyn Olshansky that was resting in dock in Sevastopol in Russia-occupied Crimea. The ship was part of the Ukrainian navy before Russia captured it while annexing the Black Sea peninsula in 2014. Pletenchuk has previously announced that two other landing ships of the same type, Azov and Yamal, also were damaged in Saturday's strike along with the Ivan Khurs intelligence ship.

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Before handing out a loan, banks invariably check the applicant’s credit score.

Nirmala Sitharaman on Tuesday said the government led by Prime Minister Narendra Modi has consciously taken several women-centric policy decisions for their emancipation and empowerment. Reeling out some of the decisions, she said, permanent commissioning of women officers, entry of girls in Sainik School, raising maternity leave from 12 weeks to 26 weeks, and Poshan Abhiyan benefitting 10 crore women are some of them. To promote entrepreneurship among women, she said, the government is providing credit facilities under the PM Mudra Scheme without collateral and at a concessional rate. So far, she said, 70 per cent of loans sanctioned belong to women category and 30 crore beneficiaries are enrolled.

Gov. Andy Beshear says an aluminum company has singled out northeastern Kentucky as its preferred site for a new aluminum smelter

Legislation in Washington state known as the strippers' bill of rights has been signed into law

The United States and Cyprus say they’re formalizing their collaboration in fighting money laundering, sanctions evasion and other financial crimes