RAI Financial News

Tamil Nadu is set to introduce new regulations for online gaming, which may include daily time and cash limits. The Tamil Nadu Online Gaming Authority, established last year, has recommended that online gaming be banned between midnight and 5 a.m., with a daily play limit of four hours and each session restricted to two hours.

AdGroup on Wednesday refuted the media report by a the Kenya's newspaper which claimed that the group's proposal for the Kenya Airport Authority was cleared in 17 days. The newspaper has tweeted on the social media site 'X' that «Indian firm Adani Group says its proposal for the Kenya Airports Authority was cleared in 17 days; KAA management now faces scrutiny over the swift approval process.» The post is now been deleted. The conglomerate stated in the statement that Adani Group has neither issued any such statement nor engaged with the media in this regard.

agricultural commodities – wheat, rice, edible oil, sugar, pulses and vegetables will not see any sharp rise during the upcoming festive season, said Sanjeev Chopra, food secretary on Wednesday, adding that the government will restore the distribution of 35 lakh tonnes of wheat for PMGKAY which it had replaced with rice during the last two years due to lower. He also added that the proposal for easing restrictions on exports of white rice and parboiled rice is under consideration and the decision will come at an appropriate time. “We are not anticipating any kind of price rise in any commodity during the festive season,” said Chopra, adding that the restoration of wheat for PMGKAY will add to the wheat availability, keeping a check on prices of the staple.

Federal Reserve is set to reduce U.S. short-term borrowing costs on Wednesday, marking a significant shift after more than two years of battling high inflation. The central bank is expected to lower its key rate by either a quarter-point to 5.00%-5.25% or a half-point to 4.75%-5.00%, following a series of hikes that totaled 5.25 percentage points since March 2022. While the initial cut could be modest, the Fed is likely to continue lowering rates, aiming for a range between 4% and 4.5% by the end of the year, with more reductions planned for 2025. However, policymakers have indicated that rates will not return to the sub-2% levels seen prior to 2022, meaning the low mortgage rates of the past are unlikely to come back soon. Despite these cuts, inflation has cooled significantly, and average paychecks are now rising faster than prices. However, the high cost of goods, like groceries, continues to strain household budgets.

The assets under management (AUM) of equity mutual funds has surged by 2.04% sequentially to Rs 25.64 lakh crore in August from Rs 25.12 lakh crore in July (excluding Sectoral / Thematic Funds), according to a study by PL Wealth Management.

Coal India is scouting for critical minerals in Argentina and is in talks with officials in Chile for lithium, India's federal mines secretary V. L. Kantha Rao said on Wednesday. India has been exploring ways to secure supplies of lithium, a critical raw material used to make electric vehicle batteries. Prime Minister Narendra Modi's government last year listed 30 minerals, including lithium, nickel, titanium, vanadium and tungsten, as critical to drive the adoption of clean energy.

food inflation, State Bank of India (SBI) chairman C S Setty has said. The US Federal Reserve's first cut in interest rates in more than four years is expected soon, triggering central banks in other economies to follow suit. «On the rate front, a lot of central banks are taking independent calls. While Fed rate cut would influence everyone, RBI would be mindful of the food inflation before taking a call on interest rate cut,» Setty, who took over the reins of the bank recently, told PTI in an interview. «That is what our view is, and our view is also that the rate cut during the current calendar year may not happen, probably we may have to wait for Q4 (January-March 2025) unless there is a good improvement in terms of food inflation,» he said.

Baroda BNP Paribas Multicap Fund has completed 21 years and crossed Rs 2,500 crore assets under management (AUM). The fund is an open ended equity scheme investing across large cap, mid-cap and small cap stocks. In the last one year, the scheme has offered 47.22% return against 41.01% by its benchmark (Nifty 500 Multicap 50:25:25 — TRI). The scheme gave 20.99% return in the last three years against 21.04% by the benchmark. Since its inception, the Baroda BNP Paribas Multicap Fund has offered 17.51% return. A monthly SIP of Rs 10,000 made in this fund since the inception would have turned Rs 1.58 crore.

Deepika Padukone has purchased a premium apartment in Mumbai suburb Bandra West for Rs 17.8 crore. She has bought the apartment on the 15th floor of Sagar Resham co-operative society on Bandstand locality through her company KA Enterprises. The deal was registered on September 12, showed documents accessed through Zapkey.com

Maharashtra Deputy Chief Minister Ajit Pawar expressed disappointment on Tuesday over the lack of recognition for his development efforts in Baramati. Despite securing significant funds for the constituency, Pawar feels his contributions have not been fully appreciated by the people. He highlighted the importance of acknowledging achievements, noting that even completed work can be overlooked if not properly highlighted. Pawar reflected on his loss in the Lok Sabha elections, accepting responsibility but pointing to challenges such as the Covid pandemic and limited time out of power, which he said reduced his productive years to three. Despite the substantial funds Baramati received, Pawar believes his efforts have been taken for granted.

Samir Kumar will take over as the country manager for India replacing Manish Tiwary who stepped down from his role in August. Kumar will take India responsibility in addition to his current charter of leading Amazon’s consumer businesses in the Middle East, South Africa and Turkey. Kumar is working closely with Tiwary on the transition, and will assume operational responsibilities for India starting October 1, Amazon said in a statement. Samir, who joined Amazon in 1999, was a part of the original team that planned and launched Amazon India in 2013.

Till 9 am, the overall voter turnout across seven districts is at 11.1%. Read More: Jammu and Kashmir Election Live Updates

Senate has failed to pass legislation to create a national right to in vitro fertilisation (IVF), with Republicans blocking the effort for a second time this year. The vote was 51-44, falling short of the 60 votes needed. Only two Republican senators, Susan Collins of Maine and Lisa Murkowski of Alaska, supported the bill. Vice President Kamala Harris criticized the Senate's decision, saying Republicans have shown they will not protect access to fertility treatments. President Joe Biden also expressed his disappointment, calling the situation «outrageous and unacceptable.» Democrats, led by Senator Tammy Duckworth of Illinois, accused Republicans of hypocrisy. Duckworth pointed out that many Republicans claim to support IVF but refuse to vote for legislation guaranteeing its availability. “They say they support IVF—here you go, vote on this," Duckworth said.

Taiwan's Gold Apollo did not make the pagers that were used in the detonations in Lebanon on Tuesday, the company's founder Hsu Ching-Kuang told reporters on Wednesday. At least nine people were killed and nearly 3,000 wounded when pagers used by Hezbollah members detonated simultaneously across Lebanon on Tuesday. Images of destroyed pagers analysed by Reuters showed a format and stickers on the back that were consistent with pagers made by Gold Apollo. A senior Lebanese security source told Reuters that Hezbollah had ordered 5,000 pagers from the Taiwan-based Gold Apollo.

Vice President Kamala Harris held a phone call with former President Donald Trump on Tuesday, according to a White House official. The conversation was described as «cordial and brief.» This exchange occurred a day after gunfire was reported near Trump's golf club in West Palm Beach, Florida. The Federal Bureau of Investigation (FBI) is investigating the incident as an attempted assassination. «Vice President Harris called former President Trump this afternoon to speak with him directly to express that she is grateful he is safe. It was a cordial and brief conversation,» the White House official said. Harris earlier expressed relief over Trump's safety, stating on X, «I am glad he is safe. Violence has no place in America.» Ryan Wesley Routh has been charged in connection with the incident. The charges include possession of a firearm as a convicted felon and possession of a firearm with an obliterated serial number. Routh will remain in custody until his detention hearing on September 23 and arraignment on September 30.

European Union's imposition of tariffs on electric vehicles (EV) will «seriously interfere» with trade and investment cooperation and hurt both China and Germany. In talks on Tuesday with German Vice Chancellor and Economic Minister Robert Habeck, Wang Wentao said he hoped to reach a solution in line with World Trade Organisation rules as soon as possible, and avoid the escalation of China-EU economic and trade frictions, according to a statement released by China's Ministry of Commerce early on Wednesday. The European Commission is on the verge of proposing final tariffs of up to 35.3% on EVs built in China, on top of the EU's standard 10% car import duty.

Jammu and Kashmir, officials conducted mock polls at various polling booths across Union Territory. Preparations and mock polls are underway in various polling booths across Jammu and Kashmir, including Banihal, Kishtwar, and Jagti Assembly constituencies. Presiding Officer of Lachh Khazana-B, FCI Store Kuleed Polling station Number 75, Ashukta Shaheen, said "Mock polling has been completed. All the preparations have been done. The voters can come and cast their votes after 7 AM..."

Hardeep Puri said here on Tuesday at a multinational conference held to deliberate on the world's energy needs. The 52nd Gastech Exhibition & Conference kicked off Tuesday with strategic insights from the world's five leading energy ministers, including India's, at the George R Brown Convention Center. The event, themed 'Transforming Energy Through Vision, Innovation, and Action,' brought into focus a need for global energy stability and rapid decarbonisation. In his keynote address, Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri underscored India's increasingly dominant role in the global energy landscape.

NCIS: Origins. This new series delves into the life of a young Leroy Jethro Gibbs.

Instagram announced tighter privacy settings for younger users on Tuesday. These restrictions include the requirement for ‘Teen Accounts’ and parental controls that limit what children can view. All Instagram accounts belonging to users under the age of 18 in the United States, United Kingdom, Canada, and Australia will become ‘Teen Accounts’ within 60 days and be set to private by default. Besides other new privacy settings and limitations, the new account type, called Teen Accounts, will only allow messages from users they follow or are already connected to. It will also put users in sleep mode between 10 p.m. and 7 a.m. to encourage sleep, and it will give users access to the most restrictive tier of the app's settings for viewing sensitive content. Also Read: Heartstopper Season 3: Check out trailer, cast, release date and where to watch