Reports Financial News

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Sunday said the Election Commission has the exclusive right to decide the schedule for Assembly elections in the Union Territory. However, he expressed hope that the democratic exercise would be conducted soon in Jammu and Kashmir, which has been under the central government rule for over six years after the fall of the PDP-BJP government in 2018. Talking to reporters after inaugurating the newly constructed building of the Malaviya Mission Teachers Training Centre at the University of Jammu, LG Sinha also referred to Prime Minister Narendra Modi's remarks during his visit to Srinagar in June that the Assembly elections will be held soon and the statement of Home Minister Amit Shah in Parliament on August 5, 2019 that delimitation will be followed by Assembly polls and then statehood at an appropriate time. «It is happening in the same sequence… I hope the Assembly elections will take place soon,» Sinha said.

SEBI Chairperson Madhabi Buch and her husband have drawn sharp political reactions from the opposition parties. Reacting to the Hindenburg report, Samajwadi Party spokesperson Ghanshyam Tiwari on Sunday lashed out at the Modi government and said that the tenure of PM Modi will be known for 'Adani-waad'. «The whole world witnessed a different session with different ideologies but the term of PM Modi will be known as 'Adani-waad'. In this Adani-waad, they captured the whole economic system of India in such a way that Gautam Ad(Adani Group) could benefit, it looks like this is the only motive of PM Modi,» he said.

Bangladesh will travel to Pakistan ahead of schedule to hold practice sessions in Lahore before their two-test bilateral series, the Pakistan Cricket Board (PCB) said late on Saturday. Ongoing political turmoil in Bangladesh has disrupted the team's training, local media reported. Prime minister Sheikh Hasina fled the country following weeks of protests, with an interim government led by Muhammad Yunus taking charge. The Bangladesh Cricket Board did not immediately reply to a request for comment on reports practice session has been disrupted by the unrest.

Hindenburg controversy was over, the whistleblower who makes money by short-selling shares and bonds of its target companies has added a fresh twist to the unending saga by claiming that Sebi chief Madhabi Puri Buch and her husband had a stake in offshore entities linked to the Adani family. The allegations come one-and-a-half months after Sebi issued a show-cause notice to Hindenburg for violating Indian market regulations and profiting by taking short positions.

SEBI chairperson Madhabi Puri Buch's involvement in the obscure offshore entities in siphoning case. «Group has absolutely no commercial relationship with individuals or matters mentioned,» Adani said reacting to recent Hindenburg report. The Adani Group also rejected these allegations against the company and reiterated that its overseas holding structure is fully transparent.

CareEdge Ratings anticipated that the credit-deposit ratios may pose a concern to the Non-Banking Financial Companies (NBFCs). «Bank's credit-deposit ratios raise concerns about NBFCs' ability to secure funds,» it said. By definition, the credit-deposit ratio (CD ratio) is a tool that measures how much of a bank's deposits are lent out as loans.

Sao Paulo as forensics experts work to identify the remains of the 62 people killed in the accident. Local authorities said the bodies of the pilot, Danilo Santos Romano, and his co-pilot, Humberto de Campos Alencar e Silva, were the first to be identified by forensics experts. Sao Paulo state government said in a statement Saturday evening that the remains of all the victims had been recovered. There were 34 male and 28 female bodies in the wreckage, it said. The ATR 72 twin-engine turboprop operated by Brazilian airline Voepass was headed for Guarulhos international airport in Sao Paulo with 58 passengers and four crew members when it went down Friday in Vinhedo, 78 kilometres north of the metropolis. Voepass said three passengers who held Brazilian identification also carried Venezuelan documents and one had Portuguese.

economy back on track so that it does not come to a standstill, finance and planning adviser Salehuddin Ahmed has said. Former Bangladesh Bank governor Ahmed was entrusted with the charge of the finance and planning ministries by interim leader Muhammad Yunus, who announced the portfolios of his 16-member council of advisors on Friday. The interim government was formed after the fall of the Sheikh Hasina-led Awami League government on August 5 following widespread protests against her government over a controversial quota system in jobs. Talking to reporters on Saturday for the first time after assuming office, Ahmed said the government's priority is to restore the trust of common people in the banks while resuming the operations of the central bank.

Reliance Industries Ltd, India's most valuable company, plans to commission its first solar giga-factory in the current fiscal as it pivots a green pathway to achieve net zero carbon emissions from operations by 2035. In its largest annual report, the firm said it is targeting to commission the first train of 20GW solar PV (photovoltaic) manufacturing by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026. The solar giga factory will include manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and first 50 MWh a year lithium battery cells pilot in 2026.

Turkey suddenly reinstates access to Instagram after more than a weekInstagram will allow users to choose the specific group of people they want to share their location with like ‘Close friends’ or ‘only followers they follow back’, a Meta spokesperson told The Verge. They also stated that Instagram is building this feature with “safety in mind," while staying mum on more details regarding the feature. The report states that Instagram's new feature will be opt-in and is only available as a ‘small test’ in a few markets.

Hindenburg Research as “baseless ”, Sebi chief Madhabi Puri Buch and her husband Dhaval Buch today said the US-based short-seller is resorting to character assasination in response to a show-cause notice issued by the regulator in the Adani controversy. “It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same,” the husband-wife duo said in a late night statement.

India's former external affairs minister K Natwar Singh passed away late Saturday in Gurugram at the age of 93 after a prolonged illness. Singh, Congress veteran, was born in Bharatpur, Rajasthan in 1931. He was awarded the Padma Bhushan in 1984. Singh, who was the foreign minister in UPA-I and also served as India's Ambassador to Pakistan besides holding other senior diplomatic positions. Singh worked in former Indian Prime Minister Indira Gandhi's office from 1966 to 1971 as a civil services officer before joining the Congress in the 80s and becoming a minister in the Rajiv Gandhi Cabinet.

sports teams in India saw an up to threefold surge in earnings in 2023-24, with cricket dominating the table, according to the latest filings of their owners such as Reliance Industries, United Spirits, Tata Steel and RPSG Ventures. These companies, which run the sports teams as business ventures through subsidiaries, benefited from a larger central revenue pool of the Board of Control for Cricket in India (BCCI), showed the filings. The revenue pool mainly comprises money earned by the BCCI from selling the broadcasting rights and a portion of it is shared among the Indian Premier League (IPL) teams. For instance, the total income of Reliance Industries' wholly owned subsidiary Indiawin Sports, which owns the Mumbai Indians cricket team, more than doubled to ₹737 crore in 2023-24 from ₹359 crore in the previous fiscal. The company's net profit was ₹110 crore, compared to a net loss of ₹49 crore in 2022-23. The central rights accounted for three-fourths of the revenue in 2023-24, while nearly 22% came from ticketing sales, said the annual report of Reliance Industries.

Paramount Global is set to reduce about 15 percent of its US workforce in the coming weeks, according to company executives on an earnings call Thursday, as per a report on AFP. The move comes ahead of a planned merger with Skydance Media, which had been announced in July and marked a key step forward for the movie studio after it co-produced the 2022 Tom Cruise blockbuster «Top Gun: Maverick» with Paramount. Paramount had previously identified cost savings across the company, and the layoffs are part of its efforts to realize them, said Chris McCarthy, who heads Showtime/MTV Entertainment Studios and Paramount Media Networks.

Ana Barbosu to third in the Paris Olympics 2024 women's floor exercise final Saturday, potentially forcing American gymnast Jordan Chiles to return the bronze she won in the event, as per an AP report. It’s unclear whether Chiles will be compelled to send back medal. The federation, known as FIG, said while it has restored the initial order of finish — with Barbosu third, Romanian teammate Sabrina Maneca-Voinea fourth and Chiles fifth — the allocation of medals was up to the International Olympic Committee. Also Read: Incredibles 3: When will the third installment release and what to expect?

Montreal was drenched in record-breaking rain and hundreds of thousands of homes were plunged into darkness across Quebec as tropical storm Debby‘s last gasps hit eastern Canada on Friday.

Hindenburg Research alleged that Madhabi Puri Buch, chairperson of the Securities Exchange Board of India (SEBI), and her husband Dhaval Buch held stakes in an offshore fund with significant investments from Vinod Adani, brother of Gautam Adani. These entities were allegedly involved in a network used by Vinod Adani to siphon money, raising questions about SEBI's impartiality due to potential conflicts of interest. According to the Hindenburg report, on March 22, 2017, days before Madhabi Puri Buch’s appointment as SEBI chairperson, her husband contacted Mauritius fund administrator Trident Trust regarding their investment in the Global Dynamic Opportunities Fund (GDOF). “In the letter, Dhaval Buch requested to 'be the sole person authorised to operate the Accounts', seemingly moving the assets out of his wife's name ahead of the politically sensitive appointment,” alleged the report.

Ryan Condal has assured fans that the forthcoming Season 3 will justify the lengthy wait. In a recent virtual press conference with IGN, Condal discussed the series finale and offered a glimpse into what to expect in the next season.

superhero family, the Parrs, have reason to celebrate as Incredibles 3 is officially in the works. Following the tremendous success of Incredibles 2 in 2018, which grossed over $1 billion worldwide, Pixar has now confirmed that a third installment in the Incredibles series is on the way. The announcement, made during the recent D23 Expo, has reignited excitement among audiences eager to see what new adventures await the superhero family, as per the Collider’s report.

Mamata Banerjee on Saturday vowed to seek death penalty for the accused in the brutal sexual assault and murder of a postgraduate trainee doctor in a state-run hospital. Her announcement came shortly after the accused, who was reportedly an outsider frequenting the hospital premises, was arrested and later remanded to 14-day police custody. Banerjee also instructed officials to expedite the trial by moving it to a fast track court. She said her government would have no objections to a CBI probe if the students demand it, emphasising, «If they do not trust the West Bengal government, they can approach any investigating agency; we have no objection.»