Provident Financial News

Family-owned KEE Group, one of Western Australia’s largest players in road maintenance, has drafted in Azure Capital to help find a cashed-up capital partner to fuel its growth ambitions.

Nov. 23rd – Gate.io, a leading cryptocurrency exchange and Web3 innovator, has announced upgrades to its Proof of Reserves (PoR) process, which includes a new open-source method utilizing zero-knowledge technology. Following the upgrade, the PoR process will now cover the top 100 digital assets, with certificates published regularly for enhanced transparency.

LTIMindtree: The company has launched a quantum-safe virtual private network (VPN) link in London to secure data transmission for the quantum computing era. LTIMindtree collaborated with Quantum Xchange and Fortinet on the platform. JSW Steel: The company has completed its ₹750 crore investment in JSW Paints and now holds 2.94 crore equity shares in it, or 12.84% of the paid-up equity capital.

ALSO READ: Black Friday Sale 2023: From Vijay Sales to Croma, best deals and offers from Indian retailers On this day, retailers offer major discounts to attract customers and stimulate early holiday shopping. This is done with an aim to boost the overall sales. The day also provides an opportunity for retailers to clear out older or excess inventory by offering discounts and making room for new merchandise, NDTV reported.

LONDON (Reuters) — British investment managers have got the go-ahead to develop tokenised funds, in which assets are split into smaller tokens backed by blockchain technology, the industry's trade body said on Friday.

bond markets to raise capital for infrastructure projects, with big names such as the National Bank for Financing Infrastructure and Development as well as large public sector banks eyeing fund raises worth close to ₹30,000 crore in coming days. Sources aware of the developments told ET that NABFID is eyeing a bond sale worth up to ₹10,000 crore, while the Delhi-Mumbai Expressway aims to garner funds worth up to ₹3,000 crore. Amongst banks, state-owned lenders Bank of Baroda and Canara Bank are looking to raise funds worth up to ₹10,000 crore and ₹5,000 crore, respectively, through the issuance of infrastructure bonds, the sources said. The massive bond pipeline comes at a time when government bond yields have eased significantly from seven-month highs touched in early October.

banking sector compared to the Nifty 50. Strong bank balance sheets, a fresh start to the credit cycle, and reasonable valuations compared with the broader market present an opportunity for investors to allocate to this sector over the next six months, say wealth managers. «Since the pre-Covid level, the BFSI sector has underperformed broader markets by 4%. Such massive underperformance was last seen during the Global Financial Crisis which may be justified due to many financial institutions collapsing globally,» said Sahil Kapoor, market strategist at DSP Mutual Fund. Kapoor said that banks have strong balance sheets, reasonable valuations and exposure to these funds also gives access to high growth segments like insurance, asset management (mutual funds), wealth management, broking, depository and fintech. The banking sector has lagged the benchmark indices over one- and three-year periods.

Zomato and Swiggy are planning to approach goods and services tax authorities to explain their position, after they received notices seeking tax on delivery fees collected from consumers. The issue could have wider implications, as a senior government official said other companies collecting such fees from users could also be asked to pay tax on the amount, which the platforms claim that they pass on to their delivery partners.

Blast, a new Ethereum Layer 2 network, has achieved an impressive Total Value Locked (TVL) of over $230 million within 48 hours of its unveiling. However, there’s a unique twist – the network does not exist yet.

Investing.com-- Japanese core consumer inflation grew slightly below expectations in October as food  prices eased, although the reading still remained well above the Bank of Japan’s target as overall inflation accelerated. 

Morgan Stanley’s wealth management arm is searching for more financial advisers to target an ever-growing list of wealthy Australian families.

By Farah Saafan and Suleiman Al-Khalidi

This week’s fall economic statement had very little in the way of tax measures, but there were a few items that may affect you if you own real estate or are considering the succession of your privately owned business.

expert panel on the Uttarakhand tunnel disaster indicated that construction was caught in a 'shear zone' situation and lacked the required escape route or piped passage in case of emergencies, it is learnt. As per guidelines, any tunnel of more than 1.5 km must have an escape passage for emergencies. Project proponents claimed that there was a piped escape passage in place until a few days before the tunnel collapse, but it was removed for some reason, it is learnt. The tunnel collapsed on November 12 and an expert committee was set up on November 14. Key to the collapse was in all probability the 'shear zone' it hit, first expert observations indicated. Debris observed at the tunnel collapse site shows the metamorphic phyllite rock in pulverised form, as per preliminary observations. This 'shear zone' was probably missed at the time of inspections before drilling began.

ARK Invest, led by the pro-Bitcoin advocate Cathie Wood, and 21Shares, a renowned exchange-traded product (ETP) supplier, have announced the launch of a new suite of digital asset exchange-traded funds (ETFs). This collaboration marks a pivotal step in offering investors a comprehensive range of options for integrating digital assets into their investment portfolios.

Introduction

U.S. Representative Tom Emmer, currently serving as the GOP Majority Whip, has been a prominent figure in the debate over the regulation of digital assets. His legislative efforts have consistently focused on clarifying and limiting the regulatory scope of agencies like the Securities and Exchange Commission (SEC) in the digital asset space. Emmer's stance reflects a broader push within certain political circles to establish clearer legal frameworks for cryptocurrencies and related technologies, aiming to encourage innovation while providing investor protection.

On 7 November, amid a debate in the Bihar assembly, the state’s chief minister Nitish Kumar made noteworthy remarks. He attributed Bihar’s decreasing fertility rate to the rising educational levels of women. Kumar then gave a detailed explanation of how education equips women with basic sexual knowledge, enabling them to use “withdrawal," a commonly recognized contraceptive method.

ALSO READ: Jeremy Hunt says UK economic growth forecast downgraded in blow to Rishi Sunak government Earlier in May, French President Emanuel Macron won 13 billion euros ($14.2 billion) of commitments at an event in the glittering Versailles palace, and for Sunak to emulate it, he will urge his business audience to show similar faith in Britain. Though they may take some persuading.

NEW DELHI : E-SIMs or embedded SIMs will soon replace those fiddly physical SIMs in smartphones and other devices. Airtel’s top boss Gopal Vittal has urged subscribers to move to e-SIMs. But what exactly are they, how do they work, and what does it mean for us? Embedded SIM, or e-SIM is a digital copy of a physical SIM card.

Sutton Hoo. Suffolk County Council has reported a significant archaeological find at Rendlesham in Suffolk as part of an ongoing project.