RAI Financial News

Hezbollah launched a significant barrage of 140 rockets into northern Israel on Friday, following a declaration from the group's leader, Hassan Nasrallah, who vowed to retaliate for recent Israeli bombing attacks. The Israeli Defense Forces confirmed that the rockets were fired in three waves during the afternoon, targeting various locations along the conflict-ridden border with Lebanon.

First-time applications from people seeking asylum in European Union countries declined in June, with Syrians, Venezuelans, and Afghans being the primary applicants, a report from the bloc's statistics agency Eurostat showed on Friday. Eurostat reported 70,375 first-time asylum requests from non-EU citizens across the bloc's 27 countries, a decrease of 17% compared to June 2023. Syrians remained the largest share of applicants, accounting for 12% in June, followed by Venezuelans and Afghans, accounting for 9% and 8% respectively.

Jammu and Kashmir recorded 61.38 per cent votes in phase one of polling, the Election Commission of India announced on Friday. While the total male turnout stood at 63.75 per cent, total female turnout, data showed was at 58.96 per cent. Third gender turnout was recorded at 40 per cent, ECI data showed.

Tata Steel has commissioned the country’s largest blast furnace at its plant in Kalinganagar on Friday, taking its steel production capacity at the site to 8 million tonne from 3 million tonne a year earlier. The steel major has spent Rs 27,000 crore in capital expenditure on expanding capacity at this site in its second phase. In its third phase, the company will further increase capacity at this site by 5 million tonnes, but is yet to take the proposal to the board. Neelachal Ispat Nigam, which was acquired by Tata Steel in 2022, is also based in Kalinganagar, and currently has the capacity to produce more than a million tonne of steel. The company plans to raise production capacity at this site before embarking on the third phase of expansion at the Kalinganagar plant, chief executive officer TN Narendran had told ET in August.

Sealdah court on Friday extended the CBI custody of RG Kar Medical College and Hospital's former principal Sandip Ghosh and Tala police station officer incharge Abhijit Mondal till September 25. The two have been arrested in connection with the rape and murder of a trainee doctor. Ghosh was arrested by the CBI on September 2 for his alleged involvement in the financial irregularities at the hospital amid the protests over the rape and murder of the on-duty trainee doctor. He was later accused of evidence tampering in the rape-murder case. On Thursday, Ghosh's medical license was cancelled.

Uco Bank appears to be losing hopes of recovering the full Rs 820 crore, which was erroneously transferred to several of its account holders through digital channel, anytime soon. The state-owned lender has so far recovered about 90% of the said amount, bank chairman Aswaini Kumar said Friday, adding that the possibility of recovering the balance amount by the end of the fiscal looks slim. «We are in the process of recovering the money… actions are on… may not be possible to recover the entire amount by the fiscal,» Kumar said, on the sidelines of a CII event.

Anna Sebastian Perayil, a 26-year-old Chartered Accountant who passed her exams in 2023, tragically passed away after working at Ernst & Young (EY) Pune office for just four months. According to a letter her mother, Anita Augustine, wrote to Rajiv Memani, the Chairman and Managing Partner of EY India, Anna had been overworked to the point of breaking. In her letter, Anita Augustine expressed the deep anguish the family felt, not only from the loss of their daughter but also from the apparent lack of empathy shown by Anna's employers. “No one from EY attended Anna's funeral,” she wrote. The absence of her colleagues and managers during such a crucial time added to the family's sorrow. According to her mother, Anna had given her all to EY, yet in her final moments, no one from the organization was present to pay their respects. Anna's death and her mother's emotional letter have since gone viral on social media, sparking conversations about the toxic work culture in many multinational corporations.

LIC Mutual Fund has launched LIC MF Manufacturing Fund, an open-ended equity scheme following manufacturing themes. The new fund offer or NFO of the scheme is open for subscription and will close on October 4. The units under the scheme would be allotted on October 11. Also Read | US Fed rate cut: Do international mutual funds look attractive now?

Many expect digital transformation to have a dual impact: reduce the need for traditional field sales roles and ensure greater transformation in functions such as risk management and technology. Another key impact of this shift will be the rise in demand for chief digital officers (CDOs) in the sector. With the evolution of technology, the CDO has an even more critical job in revolutionising lending. The success of the CFO depends on proving a positive and tangible return on the investment.

Free Trade Agreement in goods will figure during the visit of Commerce and Industry Minister Piyush Goyal to Laos, an official statement said on Friday. The two-day visit of Goyal to Vientiane, Laos, started from Friday. He is there to participate in the 21st ASEAN-India Economic Ministers (AEM-India) meeting and the 12th East Asia Summit Economic Ministers Meeting (EAS EMM). These annual meetings of ASEAN (Association of South East Asian Nations) with their dialogue partners are being hosted by Laos, the ASEAN Chair for this year.

Supreme Court on Friday directed a Union government-appointed high-level committee probing the death of three IAS aspirants in a coaching centre here in July due to flooding in the building's basement to submit interim measures in four weeks to prevent such incidents. A bench of Justices Surya Kant and Ujjal Bhuyan directed the Haryana, Uttar Pradesh and Delhi governments to apprise the court of policy, legislative and administrative changes made to prevent a repeat of such incidents. It said uniform initiatives should be taken in the entire National Capital Region to prevent another Old Rajendra Nagar-type incident from happening. «If the need arises, we will pass directions for pan-India to prevent Old Rajendra Nagar-type incidents,» the bench observed.

Chief of Defence Staff General Anil Chauhan has said a first-ever future warfare course, which will be attended by the officers of different ranks, is slated to start on September 23. In an interaction session at the Bharat Shakti Defence Conclave here on Thursday, he also spoke of the broader contours of the planned joint theatre commands envisioned by the government. He was asked about the takeaways from a recent conference of commanders from the three Services. «We also discussed how warfare is evolving and what we need to do about it, and that I think is a important. In that we discussed something like a future warfare course, which is going to start after four days, on 23rd (September), the first-ever course, which we are curating it,» the Chief of Defence Staff said.

Bombay High Court has directed Apollo Tyres Ltd. to stop circulating advertisements that allegedly disparage CEAT Ltd’s car tyre variant ‘Crossdrive AT’ until further order, granting temporary relief to the RPG group-owned listed tyre company. In a recent order, the court said that CEAT has made out a strong prima facie case for the grant of ad-interim relief in its petition, alleging that some advertisements for Apollo Tyres’ variant ‘Apterra AT2’ shared through YouTube, Instagram, X, LinkedIn and Facebook portray ‘Crossdrive AT’ in a negative light. “The balance of convenience is in favour of the plaintiff (CEAT Ltd),” Justice RI Chagla observed in his 16-page interim order. “Unless reliefs as prayed for are granted, the Plaintiff will suffer irreparable harm/injury which cannot be compensated in terms of money.”

Assam Police on Friday pushed back two Bangladeshis who attempted to cross the international border at Karimganj district, Chief Minister Himanta Biswa Sarma said. He said on Thursday also Assam Police pushed back four Bangladeshis who attempted to cross the border in Karimganj district. «In line with our zero-tolerance policy toward illegal infiltration, earlier today @assampolice successfully pushed back the following Bangladeshi nationals who attempted to cross the International Border at Karimganj,» Sarma posted on X on Friday. The two illegal immigrants were identified as Dilara Begum and Shoel Hawladar, he said.

palm oil production is likely to triple in six years as the area under oil palm plantations increases and as plantations become mature for harvesting, a senior industry official said on Friday. The world's biggest edible oil importer relies on Indonesia, Malaysia and Thailand for palm oil supplies. An increase in production will help India slash edible oil imports that account for nearly two-thirds of its total consumption. India's palm oil production is likely to jump to 1.2 to 1.5 million metric tons by 2030-31 from the current 400,000 tons, as farmers have been expanding the area, said Sougata Niyogi, chief executive officer of the oil palm plantation division at India's biggest palm oil producer, Godrej Agrovet Ltd.

Summit of the Future (SoTF) will take place on 22-23 September, prior to the High Level Week of the United Nations General Assembly (UNGA) in New York. The origin of the SoTF can be traced to the report ‘Our Common Agenda (OCA)’ of the Secretary General submitted to the UNGA in September 2021. One of the recommendations of the OCA was a proposal for a Summit of the Future. PM Narendra Modi will address the SoTF in the forenoon session of 23 September 2024. Bilateral meetings, on the sidelines of the SoTF, will also take place.

Chandrababu Naidu's allegations on former CM Jagan Mohan Reddy over Tirupati temple prasad that sparked a row, YSCRP Rajya Sabha MP Y V Subba Reddy condemned Naidu's comments, calling them 'baseless'. Subba Reddy said that Naidu made baseless comments to affect the sentiments of Hindus. «CM Chandra Babu Naidu has made baseless comments about Tirmula Tirupati Devasthanams Prasadam, which affect the sentiments of Hindus. I believe in Lord Balaji, and I know you do too. I am ready to take an oath in front of Lord Balaji; are you ready to do the same? If you are not willing to take the oath, we will proceed legally,» he said.

Meta and Spotify blasted the European Union Thursday for its «fragmented and inconsistent» decision-making on data privacy and artificial intelligence (AI). The firms along with several researchers and industry bodies signed an open letter claiming that Europe was already becoming less competitive and risked falling further behind in the age of AI. The signatories called for «harmonised, consistent, quick and clear decisions» from data privacy regulators to «enable European data to be used in AI training for the benefit of Europeans».

TDP spokesperson Anam Venkata Ramana Reddy in a press conference displayed the purported lab report which apparently confirmed the presence of "beef tallow" in the given ghee sample. Read More: Animal fat in Tirupati Laddu Prasadam? Controversy thickens as Andhra govt cites lab test report

M2P Fintech, a software services provider for banks, is in the process of closing a new funding round of around $80 million in a mix of primary and secondary deals. Africa-focused investment firm Helios Investment Partners is leading the round along with participation of Bank Muscat, said two people in the know. According to filings made with the Registrar of Companies, accessed through Tofler, Helios will invest around $50 million in the company, picking up a stake of almost 6.5%.

Trilokpuri area of the national capital. Aam Aadmi Party MLA Rohit Kumar Mehraulia said that the pit may have been caved in due to heavy rain this year. «This incident happened around 9 pm...we informed the police, and they came here and placed barricades and stopped people from going there. This pit must have formed due to heavy rain this year,» he said on Thursday.