Provident Financial News

Pramod Gubbi, Founder, Marcellus Investment Managers, says “I expect significant flows to come into India largely through India-dedicated funds. Maybe on the other side of elections perhaps because that is the only bit of uncertainty, maybe the last week's state elections has ironed out that uncertainty a little bit. Allocators would like to see some political stability. So, maybe the big ramp up might come on the other side of the election, but we have already seen the beginnings of those starting with last week's flows. ” We are trying to map the factors which are at play; the sudden change of stance from the Fed last evening has triggered a big global risk-on moment. India is also participating. Is it really something which the market is surprised about or was it largely in the direction the market was expecting? Three rate cut possibilities are now on the table starting mid-next year. I reckon it is not a total surprise. Pretty much at the beginning of April of this year, the best indication has been either the dollar index or FII flows into India as well. We have bottomed out in terms of FII outflows sometime in March 2023. And I think it was the 25th March 2023 Fed meeting which triggered that. In sum, the market started factoring in that we are close to the peak of the interest rate cycle, if not foreseeing some cuts. That has been at play for quite some time.

Native Americans of the Pacific Northwest until its rapid demise following European colonization, a study in Science showed Thursday. The new research was based on a genetic analysis of 'Mutton' one of the last surviving Coast Salish woolly dogs whose pelt was sent to the nascent Smithsonian Institution in 1859, only to be largely forgotten until the early 2000s. Interviews contributed by Coast Salish tribal co-authors, meanwhile, revealed the dogs occupied a previously underappreciated high-status in Indigenous societies, which revered the animals as members of the family and adorned their most treasured items with their emblem. The dogs' fleeces were shorn like sheep, with Coast Salish weavers using the wool to craft blankets and baskets that served ceremonial and spiritual purposes. «I was always curious about why and how the pre-colonial indigenous dogs in the Americas had gone extinct after the arrival of the Europeans,» lead author Audrey Lin, a molecular biologist currently at the American Museum of Natural History, told AFP. Where and when dogs were first domesticated remains murky, but it's clear that some of the first people who settled in the Americas brought their canine companions with them from 15,000 years ago. Within the span of a few centuries of Western settlers, however, these breeds were all but wiped out — and modern American dogs contain exceedingly little genetic material of their lost cousins.

By Josh Ye

By Lewis Jackson

policy environment in 2024 have boosted most Asian currencies versus the dollar, but the rupee's gains have paled in comparison as the Indian central bank looks to build a reserves buffer and preserve export competitiveness amid a global scarcity of the greenback. On Thursday, the rupee closed at 83.3275 per US dollar, just 0.09% stronger than 83.4025/$1 at previous close. Meanwhile, currencies such as the Thai baht and the South Korean won notched up gains of around 2% versus the US dollar on Thursday while the Indonesian rupiah strengthened 1%, Bloomberg data showed. The Malaysian ringgit, the Taiwanese dollar, the Chinese yuan, the Philippine peso, and the Singapore dollar also outstripped the rupee's gains on Thursday, with the domestic currency extending the underperformance it showed versus its Asian peers last month.

BharOS, an indigenously developed mobile operating system, is considering providing its technology for routers, said Karthik Ayyar, the founder of JandK Operations, an IIT Madras incubated non-profit organisation that has built BharOS. “We are looking at different variants of our operating system for different purposes,” Ayyar told ET.

NEW DELHI : The wait for India’s new industrial policy just got longer with the government expected to take a fresh look at it following global supply chain shifts, greater urgency on the green agenda, and geo-political developments, two people aware of the matter said. Late last year, the Union commerce ministry had circulated the draft of Industrial Policy 2022—Make in India for the World, aimed to replace the 1991 policy. The draft aimed to address challenges faced by the industry through policy measures to foster and create an innovative and competitive ecosystem.

MUMBAI : Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers Ltd, has led a ₹3,200 crore investment in Jayaswal Neco Industries Ltd (JNIL) by purchasing non-convertible debentures (NCDs) issued by the Nagpur-based company. In a statement on Thursday, Kotak Alternate Asset Managers said that KSSF II has invested ₹1,500 crore in JNIL, thus helping the company refinance its existing debt of ₹3,200 crore.

By Makini Brice and Ted Hesson

By Jamie McGeever

Cruel Intentions reboot series, announced in 2021, is making progress. Initially slated for Freevee, the series is now set to air on Prime Video. The shift is unsurprising, considering the production costs, and Prime Video's subscription model aligns with hosting more substantial and costly shows compared to ad-based platforms like Freevee.

Josh Jacobs, left fans and fantasy managers on edge during Week 14, exiting the game against the Minnesota Vikings with a quad injury. As the Raiders face the Los Angeles Chargers in Thursday Night Football for Week 15, Jacobs is labeled as «questionable,» with the possibility of a last-minute return despite missing practice due to his quad ailment.

Chinese e-commerce retailer Temu is suing rival Shein again

Workers angry that a proposed smoking ban in Atlantic City's casinos seems to be going nowhere protested by lighting up during a state government hearing Thursday in Trenton

DFW housing and macroeconomics analyst Amy Nixon discusses the future of the housing market on «Making Money.»

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This Cyber Monday, enjoy up to 60% off, plus an extra 10% off a 2-year subscription with the code research23 , reserved for the first 500 quick subscribers. To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.

By Daniel Wiessner

Customers of SmileDirectClub, the telehealth orthodontics provider of teeth-straightening aligners, have been left to fend for themselves amid a company shutdown.

The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, a sign that it is likely done raising rates after having imposed the fastest string of increases in four decades to fight painfully high inflation.

Taurus, a Swiss crypto custody firm supported by Deutsche Bank, has entered into a partnership with Teylor, a fintech lending platform based in Zurich and specializing in the German SME marketplace.

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This Cyber Monday, enjoy up to 60% off, plus an extra 10% off a 2-year subscription with the code research23 , reserved for the first 500 quick subscribers. To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.