Provident Financial News

In recent days, the bullish momentum on Wall Street has sustained, marked by the Nasdaq hitting new all-time highs, and a similar breakthrough for the S&P 500 is imminent.

Canada’s record population growth in the third quarter brings its housing crisis into the spotlight once again, with economists urging governments to boost spending to accommodate all the new arrivals.

A new survey conducted by blockchain intelligence company TRM Labs has revealed that 99% of law enforcement needs more training on crypto.

Hardware wallet provider Ledger has announced its intention to reimburse victims for the approximately $600,000 in assets lost due to the recent ConnectKit exploit.

The Legend of Zelda: Tears of the Kingdom introduces a new element called Sage’s Will. This guide provides essential information on locating and utilizing this item in the game. What are Sage’s Wills in Tears of the Kingdom?

Bhartiya Nagrik Suraksha Sahita, 2023, has permitted electronic FIR for cognisable offences under Clause 173 of the Bill which will save women victims from recounting their ordeal before cops. However, BNSS, passed by Lok Sabha on Wednesday, has also taken away the right to appeal in a court against the President's decision under Article 72 of the Constitution. Article 72 empowers the President to grant pardon, reprieve, respite, or remission of punishment or to suspend, remit or commute the sentence of anyone convicted of any offence.

Zee Entertainment Enterprises Ltd have chosen to give themselves some more time, two persons directly aware of the matter said. The development comes after Sony and Zee failed to find common ground despite protracted discussions, securing regulatory approvals, and spending over ₹300 crore in merger-related expenses. An agreement between Sony’s India business (Culver Max Entertainment Pvt.

Nirmala Sitharaman on Wednesday said the request from Parliamentarians to raise the sales threshold for Goods and Services Tax (GST) registration can be looked into by the GST Council; however, she added that most small businesses ideally should be part of the GST chain. While replying to a discussion on the Central Goods and Services Tax (Second Amendment) Bill, 2023 in Rajya Sabha, Sitharaman also took note of the requests from Parliamentarians for setting up a national appellate authority for advance ruling as provided for in GST law.

NEW DELHI : Vedanta Group company Runaya is planning to enter the mine tailings treatment space, as it seeks to expand its portfolio, Naivedya Agarwal, co-founder and CEO, said. Tailings are basically the leftovers or by-product of the mining process, which need to be managed or disposed after the valuable mineral is separated from the ore. Runaya has already ventured into recovery of materials from zinc and started a facility for smelting zinc waste to recover minerals like nickel, cadmium, cobalt, lithium, Agarwal said in an interview.

NEW DELHI : The Central Board of Direct Taxes (CBDT) has amended the Income Tax rules to liberalize the 'safe harbour' norms that allow multinational companies to avoid rigorous audit of their cross-border transactions by following certain requirements. The changes introduced through the Income-tax (Twenty-Ninth Amendment) Rules, 2023 will be effective from 1 April 2024, showed an official order. Cross-border transactions of MNCs among their group entities are an area tax authorities keep a close watch on due to the potential of these transactions for artificial shifting of profits from one jurisdiction to another.

logistics services provider Delhivery has operationalised its largest gateway in Bhiwandi, Maharashtra one of the biggest logistics hubs in the country, housing warehouses of Amazon, Flipkart, and Samsung. The new terminal consolidates Delhivery's existing operations in Bhiwandi and includes an automated hub, sortation, freight handling, and ecommerce returns operations. In the logistics industry, a gateway is the central point at which freight moving from one region to another is interchanged between transport vehicles heading into different directions.

RBI) cautioned against the evergreening of loans. In its supervisory role, RBI had noticed innovative methods adopted by certain banks to conceal the true stressed nature of loans. For instance, two banks might get into an arrangement of sale and buyback of troubled loans from each other to erase the history of a stressed loan and start afresh.

insurance. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a January 19 expiry, was last trading higher by 1.39 per cent at ₹6,253 per bbl, having swung between ₹6160 and ₹6,289 per bbl during the session so far, against a previous close of ₹6,167 per barrel. -Oil pared some gains after weekly data from the US Energy Information Administration showed a surprise crude inventory build, larger than expected fuel stocks gains and record domestic oil production. -On Wednesday, Greece advised commercial vessels sailing in the Red Sea and the Gulf of Aden to avoid Yemeni waters.

Kalpataru group company has raised ₹525 crore debt facilities from PAG, a global alternative investment firm, for a term of 3.5 years to complete the construction of its 10 residential towers in Mumbai suburb, said people aware of the development. Asia Pragati Strategic Investment Fund, managed by PAG, provided the debt facilities in two tranches in the form of non-convertible debentures (NCD). The funds were raised at an internal rate of return (IRR) of 18.75%, the people said. PAG provided debt facilities to Alder Residency, a wholly owned subsidiary of Abhiruchi Orchards, a wholly owned company of Kalpataru. PAG Asia and Kalpataru did not comment. In November, Asia Pragati Strategic Investment Fund invested ₹475 crore in secured unlisted bonds and another ₹49 crore in secured listed bonds.

Ottawa rolled out its timeline for the full transition to electric vehicles on Tuesday, but some industry watchers are concerned the path to get there is not realistic.

A Vancouver payment processing company under investigation for alleged direct-mailing scams has forfeited $10 million in a settlement agreement with the B.C. Civil Forfeiture Office — the single largest forfeiture in the history of the office.

The data revealed in the Parliament on Dec 19 showed that the total unclaimed deposits with banks amount to ₹42,270 crore in fiscal 2023, 28 percent higher than the last year data. 

—Name withheld on request

Bharatiya Nyaya (Second) Sanhita, which was passed by the Lok Sabha on Wednesday and seeks to replace the Indian Penal Code (IPC) of 1860. * Twenty new offences have been added in the Bharatiya Nyaya Sanhita (BNS) * Nineteen provisions that existed in IPC have been deleted * In 33 offences the punishment of imprisonment has been increased * In 83 offences the punishment of fine has been enhanced * In 23 offences the mandatory minimum punishment has been introduced * In six offences the punishment of 'community service' has been introduced Major Changes: * Definition of child is introduced * Transgender is included in the definition of 'gender' * Electronic and digital records are included in the definition of document * The definition of 'movable property' is widened to include property of every description * New chapter on offence against woman and child is introduced * New chapter on 'inchoate offences' (attempt, abetment and conspiracy) is introduced * New offences like organised crime, terrorist act, petty organised crime, hit and run, mob lynching, hiring child to commit offence, sexual exploitation of woman by deceitful means, snatching, abetment outside India, acts endangering the sovereignty, integrity and unity of India, publication of false or fake news etc.

import of substandard car and bike wheels come Friday as it implements the quality control order for automobile rims. The move comes with riders as some manufacturers are being allowed to import limited quantities of non-Bureau of Indian Standards (BIS) compliant wheel rims after the latest amendment to the quality control order.

Ikea said it faces delays and possible shortages of some products as shipping firms reroute cargo vessels away from the Red Sea following attacks by Houthi militants. The Swedish flat-pack furniture giant said it’s looking for other options to secure the availability of its products, many of which normally pass through the body of water and the Suez Canal on their way from factories in Asia to Europe and other markets.