Stage Financial News

NEW DELHI : Cricket fans worldwide have a reason to celebrate as the sport will debut at the LA Olympics in 2028. This is also expected to attract new cricket enthusiasts and promote global infrastructure development for the sport, apart from having a significant economic impact, said experts. Team India is poised to play a crucial role as one of the six teams representing cricket at the 2028 Olympics.

Monday, October 16th, 2023 - After the US Securities and Exchange Commission (SEC) declined to request an appeals court reconsideration of the Grayscale Bitcoin ETF, the Bitcoin price has exploded - triggering a scramble for Bitcoin alternatives such as Bitcoin Minetrix ($BTCMTX).

In the lead-up to last week, the US Dollar Index experienced some weakening as the Federal Reserve adopted a more dovish stance. This trend coincided with escalating geopolitical risks in the Middle East, which were expected to intensify over the weekend.

Meesho on Monday claimed to have recorded 120 crore customer visits during its recently concluded 10 days festive season sale "Meesho Mega Blockbuster Sale". This is the first time Meesho hosted a festive season sale with Meesho Mall — a digital store within the platforms for brands and claims to have recorded 3 times growth than business as usual these days.

New Delhi (India), October 16: In recent times, India has emerged as a dominant force in the world economy, claiming its rightful position at the helm of the Global South. With its economy burgeoning at a staggering speed, and surrounded by giants like China and Russia, India is surpassing economies globally and, more specifically, in South Asia, with impressive momentum. Financial expert, and the founder of Shree Consultants, Mr Kishore Subramanian validates this claim with a range of reasonings listed below: Remarkable Economic Growth: India's economic trajectory has witnessed a blazing speed with a 7% GDP growth and a nominal GDP of more than 14%.

Leaders from the European Union offered a new growth plan to the Western Balkans at a summit in Albania’s capital on Monday, opening parts of the EU single market and asking for deep-rooted reforms ahead of membership in the bloc for the six countries ...

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The Reserve Bank of Australia says creating real-world financial assets in a “tokenised” form could unlock billions of dollars in annual savings for banks and other financial institutions by streamlining settlement processes and automating registries.

Royal Enfield has launched an assured buyback program for its motorcycles with OTO Capital. The program aims at ensuring a smooth and seamless ownership experience for customers, Royal Enfield said in a statement. OTO Capital is a Mumbai-based finance start-up that offers loans to two-wheeler buyers on flexible terms which involves leasing a two- wheeler and also buying it at the end of the lease tenure by paying the residual amount. The program with Royal Enfield includes flexible tenure options spanning from 1-3 years, up to 45% lower EMIs, and a guaranteed buyback value of up to 77% depending on the tenure coupled with a cash back incentive at the end of the tenure, this initiative is a first-of-its-kind in the industry. The maker of Hunter 350 and Continental GT among other motorcycle brands has launched the assured back program at a time when the competition in the middleweight motorcycle segment where it leads, has been heating up with the entrance of Bajaj-Triumph and Hero-Harley models. The motorcycle-making arm of Eicher Motors has committed its highest ever annual capex of Rs1600-Rs1700 crore for FY24.

Here are 5 important investment questions and their answers for millennials.

Russia’s Sber, the operator of Sberbank, says it will join the Central Bank’s digital ruble pilot, in a major coup for the nation’s CBDC.

Cryptocurrency advocates are tipping the price of bitcoin to reach $US100,000 within the next five years as approval of the first exchange-traded funds for digital assets open the floodgates to institutional investors.

He Jinbi, head of Maike Metal International Group, China’s top copper importer, has not been seen in public recently, and is believed to have been detained by Chinese authorities. By the standards of disappearances in China this year, He’s case seems relatively minor. Qin Yaqing appointed as China’s foreign minister in December last year disappeared in July, while defence minister Gen.

Sandip Sabharwal, asksandipsabharwal.com, says “among the stocks that are in the value zone on the consumer side, something like Voltas and Aditya Birla Retail. We are accumulating these two stocks on every dip because I think the downside is limited. Near-term upside, I am not very sure about but over the next one and a half year, we should be able to get 25-30% out of these stocks. ” I have always been an SBI bull because I am fascinated with what they have done, not only in terms of managing the branch networks but also in terms of the digital app, Yono. Do you think one should get slightly myopic and look at NIMS and pressures on retail spreads and get bearish on the stock or is SBI something which will continue to surprise us? NIMs compression has been known, it is something which is out in the open and everyone knows that there is going to be NIMs compression.

insurance companies are close to agreeing to impose a 30% cap on commissions paid to corporate agencies, including banks and non-banking financial companies, for credit life policies, said people with knowledge of the matter. It comes as the industry reorients marketing practices following the regulator's decision to scrap product-wise caps and go for company-wise ones in the wake of insurers facing GST evasion charges. The matter has been discussed in Life Insurance Council meetings over the past few months, said two persons privy to the information.

Parul Mittal Sinha, head-financial markets, India at Standard Chartered Bank. In an interview with Bhaskar Dutta, she said the Indian rupee will be relatively better performing despite the strengthening US dollar. Edited excerpts: The RBI sounds hawkish but when it comes to action it is not so harsh. How do you read the central bank? Our expectation is that the RBI will not do any more rate hikes. In the previous policy, they did mention that they are very focused on bringing inflation down. They think that their policy measures are taking effect; it's going to be a slower move than probably anticipated earlier. We think there isn't a need to raise the repo rate, but they will use other tools. OMO (open market operations) sales are one tool that they have spoken of in the latest policy. They have used ICRR (Incremental Cash Reserve Ratio) before; they'll probably do a CRR hike if required, but they have increased the hurdle to increase the repo rate itself.

Aakash Chaudhry — the promoter of Aakash Institute — is likely to return as the chief executive officer of the company as part of a broader arrangement being finalised with its owner Byju’s, multiple people aware of the matter said. Chaudhry is also in final stages of talks to close the stock-swap deal with Byju’s as part of the acquisition announced about two years ago, the people said. He would replace incumbent Abhishek Maheshwari who left Aakash Institute last month.

₹50 crore of unidentified cash in IT raids has become the centre of a political row erupted between Congress and BJP in Karnataka. Soon after IT raids recovery on Sunday, BJP state president Nalin Kumar Kateeel claimed links between ruling Congress and the recovered money. Soon after his allegations, Chief Minister Siddaramaiah denied the claims and called them baseless.

Mumbai: Call it a case of role reversal in the startup arena. Founders, who used to be closely vetted by investors, are now using the same magnifying lens to carry out due diligence on the former.

Pillai, the alleged frontman of Bharat Rashtra Samithi leader Kavitha Kalvakuntla, has submitted that he is neither the frontman nor the representative of Kavitha of any liquor cartel allegedly involved in the Delhi liquor excise scandal. According to the Enforcement Directorate (ED), Pillai, a Hyderabad-based businessman and co-accused in the Delhi government's now scrapped excise policy case is Kalvakuntla's «benami» or frontman. In his bail plea filed earlier this month before the Delhi High Court, Pillai has submitted that the entire case made out against him by the ED is solely based on statements of witnesses and co-accused recorded under Section 50 of the Prevention of Money Laundering Act (PMLA). Statements recorded under the said section are admissible in a court of law. Advocate Nitesh Rana, appearing on behalf of Pillai, argued before the high court that the admissibility of such statements is to be examined at the stage of trial.