Provident Financial News

Reuters. Two Israeli vessels in the area were attacked by drone and missile as claimed by Yemen's Houthi group. Houthis control most of Yemen's Red Sea coast.

Puducherry. Cyclone 'Michaung' is expected to hit the west-central Bay of Bengal off south Andhra Pradesh and adjoining north Tamil Nadu coasts by December 4 forenoon, and the National Disaster Response Force (NDRF) has deployed 21 teams for rescue and relief operations, the National Crisis Management Committee (NCMC) informed on Sunday.

By Brigid Riley

By Aziz El Yaakoubi and Idrees Ali

U.S. stocks ended higher on Friday to notch another winning week as remarks from Federal Reserve Chair Jerome Powell bolstered the view that the U.S. central bank is done with raising interest rates.

By Jamie McGeever

BJP winning 115 seats in a bitterly-fought election. The perceived lack of anti-incumbency in Rajasthan, however, did not shield Ashok Gehlot from the state's dreaded five-year electoral itch as the Congress was restricted to a modest 69 seats. Several ministers, including Disaster Management Minister Govind Ram Meghwal, who was also the Congress' campaign committee chief, was defeated by BJP's Vishwanath Meghwal on Khajuwala seat.

Ericsson has signed pacts to lease up to 525,000 square feet of office space from Skootr at the Vatika One on One building in Gurgaon, in one of the biggest managed workspace deals in the country, three people aware of the development said. The company has signed an agreement to lease about 325,000 sq ft for immediate move-in and kept the right of first refusal for another 200,000 sq ft. «Ericsson already has two offices in Gurgaon, and the decision to take a large office with a manager and office space provider has highlighted the demand for managed and flexible space in the country.

—Name withheld on request Third-party (TP) insurance primarily addresses damages to bodily injury, fatal cases for the occupants travelling in the vehicle, and loss to any vehicle that you might have an accident with, as well as bodily injury or death of passengers of the said vehicle, any property that might be damaged due to your car, or injury or death of any pedestrian. This does not directly cover damages to your vehicle (also called own damage). In a scenario like a vehicle pile-up, where you impact the vehicle in front, your TP policy would cover damages to that vehicle subject to fault evidence established by the insured vehicle through court proceedings.

Gati Shakti initiative for logistics efficiency reckons it can save up to ₹15 crore per km for projects run by the National Highway Authority of India (NHAI). The estimated savings are due to a reduction in the length of roads by integrating various expressway corridors after modifications of alignment for NHAI projects, said Sumita Dawra, who is leading the NPG as special secretary, department for promotion of industry and internal trade.

Priyanka Gandhi said the people of Telangana have created history. In a post shared by her official handle on X, Priyanka wrote in Hindi, “The people of Telangana have created history and given the mandate in favour of the Congress Party.

residential real estate market has prompted property developers to actively pursue and conclude transactions for land parcels, and the trend is not limited to metropolitan regions and peripheral locations but is also evident in tier-II and -III cities, too. Homebuyers' interest in plotted developments has spiked, particularly after the outbreak of Covid-19 pandemic. The buoyant demand for warehousing has also pushed finalisation of land deals higher. During the 22-month period from January 2022 to October 2023, real estate developers purchased about 3,294 acres of land.

Tamil Nadu DGP seeking registration of an FIR against the officials of the state Directorate of Vigilance and Anti-Corruption, who recently arrested its Madurai-based investigator, for conducting an allegedly illegal search at its office and «stealing» sensitive documents. The federal probe agency has alleged that during the DVAC raids conducted at its Madurai sub-zonal office on December 1, the officials of the state agency «ransacked the entire office of the ED.» The DVAC searches were undertaken after the department arrested the ED's Madurai stationed Enforcement Officer Ankit Tiwari for allegedly accepting a bribe of Rs 20 lakh from a doctor.

Indian Navy has planned to deploy both its aircraft carriers INS Vikramaditya and INS Vikrant on the eastern seaboard during Milan-2024, a flagship international naval exercise hosted by Vizag from February 19-27 next year, a senior official said on Sunday. «The event will be held under the aegis of the Eastern Naval Command (ENC) of the Indian Navy with likely participation from nearly 50 friendly countries as a delegation, and 20 foreign warships along with one maritime patrol aircraft,» said Vice Admiral Rajesh Pendharkar, Flag-Officer Commanding-in-Chief (FOC-in-C) Eastern Naval Command.

Narendra Modi and Maldives newly elected President in their maiden meet held in Dubai discussed the issue of presence of India’s military platforms in Maldives that are engaged in humanitarian missions and the bilateral core group set up by the two leaders will discuss operational matters of platforms. “We have seen reports about status of Indian platforms in Maldives engaged in HADR activities. The continued usefulness of the Indian platforms as it was recognised in discussions needs to be looked at in a proper perspective.

Trinamool Congress and CPI(M) were divided over Sunday's assembly poll results with the former blaming the Congress while the Left party stood by Rahul Gandhi. The Trinamool Congress claimed that the BJP's victories in Rajasthan, Madhya Pradesh and Telangana were more of a failure of the Congress than a success story of the saffron party.

Stocks were down yesterday, but a $6.5 billion buy imbalance sent S&P 500 screaming higher into the close. Yesterday was month end, which can create large buy or sell imbalances. Generally speaking, the quarter ends generate enormous imbalances, but yesterday’s was almost equal to larger, driving the market higher in the final 30 minutes of trading.

Editor’s note (November 29th 2023): On November 28th America’s Food and Drug Administration accepted a “Reasonable Expectation of Effectiveness" application by Loyal, a veterinary-medicine company, for its life-extending drug for large dogs. This is the first time the FDA has recognised the possibility that a drug intended for any species might have general lifespan-extending properties. It is entirely possible that at this point you, the reader, are thinking that a greatly enhanced lifespan would be there for the taking had you only had the good luck or foresight to have been born a laboratory mouse. So many things, after all, seem to extend their life’s lease.

Narendra Modi government had brought in a comprehensive Dam Safety Act. The Dam Safety Act of 2021 became effective from 30 December that year. According to an official statement, the Act provides a comprehensive framework for proper surveillance, inspection, operation and maintenance of all the large dams.

While Nifty is up over 11% so far in the calendar year, India's m-cap has increased by about Rs 55 lakh crore in 2023, led by the outperformance of small and midcap stocks as well as a flood of IPOs on Dalal Street. India had joined the coveted $3 trillion club in May 2021. The journey of market capitalization of Indian listed companies from $2 trillion (July 2017) to $3 trillion (May 2021) took about 46 months, whereas the last $1 trillion i.e., from $3 trillion to $4 trillion took only about 30 months. While the $4 trillion market capitalization is an important milestone, data suggests that only 0.35% of the total private companies registered with the Ministry of Corporate Affairs, Government of India are listed on the Exchanges, indicating an enormous number of companies which can tap the equity market for their funding needs. In the current financial year as of October 2023, more than Rs 5,00,000 crores have been mobilized through primary markets across equity and corporate bonds.

Narendra Modi addressed 14 rallies in Madhya Pradesh during campaigning for polls and reached out to young voters by reminding them of the failures of previous Congress governments on various fronts as he doubled down on development of all sections. Modi's appeal seemingly clicked with voters, including women, in the central state where the ruling BJP has won 33 seats and leading in 131 out of 230 constituencies where results are being declared on Sunday.