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INS Tarmugli, formerly known as INS Tillanchang, has a history steeped in maritime significance. Originally part of the Trinkat Class and actively serving in the Indian Navy until 2006, it embarked on a unique journey, transitioning into MCGS Huravee under the Maldives National Defence Force (MNDF).

Over the past decade, India has been one of the fastest growing economies in the world and is becoming the most sought after investment destination for foreign investors. The GIFT International Financial Services Centre in Gujarat is a step in the direction of attracting higher foreign capital. Abhishek Bansal, Chairman, Abans Group believes that aligning policies and regulations with international standards, is one of the essential aspects to drive investments. “One crucial aspect for enhancing foreign investors’ interest in GIFT City is achieving goal congruence between national regulatory agencies and the GIFT regulator,” says Bansal. Such an approach ensures investor-friendly policies that meet global expectations and foster confidence and interest among foreign investors in GIFT City, he said. Edited excerpts: Notwithstanding certain regulatory hiccups, the last couple of years has been quite good for the AIF industry. Can you share some of the trends to watch out for the segment in 2024? Over the past years, the AIF industry in India has defied regulatory challenges, witnessing significant growth. Investors, including institutions and high-net-worth individuals, are increasingly drawn to alternative investments, seeking diversification beyond traditional assets. Sector-specific funds focusing on areas like technology and healthcare have gained popularity, offering targeted exposure and potential high returns.

Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Stanley Black & Decker, Green Dot, Deckers Outdoor, and EOG Resources.

While many sectors and themes have done well in 2023, HDFC Asset Management is positive on four major sectors, entering into 2024. “At the broader level, we are positive on sectors with good prospects of earnings growth and where valuations are reasonable,” said Rahul Baijal, senior fund manager – equities at one of India’s leading asset management companies. In his view, some of the large banks seem well placed given their strong balance sheets, healthy credit growth, good asset quality and reasonable valuations. Telecom and healthcare are the other two sectors that Baijal thinks look good from a medium to long term perspective. Edited excerpts. How does 2024 look up for the Indian equity market? What are the key factors that will drive inflows? Indian equities have done well in 2023 and are likely to end the year on a positive note, with all three market cap segments delivering positive returns. In my view, as we enter 2024, global macro factors may dominate local macro in the first half of the year. The nature of the slowdown in the US and the movement of the US 10-year yield is likely to continue to cause volatility, as has been the case in the recent months. Locally, the economy is in a good shape with healthy macroeconomic fundamentals.

“Risk management is embedded in our Investment Process. By focusing on price-value gaps, we strive to achieve a balance between risk and reward," Tridip Pathak, Executive Director and Portfolio Manager at Avendus Olivo PMS. In an interview with ETMarkets, Pathak said: “We have an investment process which helps us identify opportunities from our ~145 stock coverage universe at any point in time,” Edited excerpts: Thanks for being part of the segment. You are managing over 600 cr in AUM – please take us through the portfolio performance? As of today, our PMS Strategy has delivered ‘on an aggregate basis’ a CAGR return of 21.7% since inception in August 2020, 19.8% over the last 3 years, 13.7% over the last 2 years and 28.4% over the last 1 year.

Yellen said former President Donald Trump's policies toward China left America «more vulnerable and more isolated» in the global economy, a rare jab by her at the front-runner for the Republican presidential nomination. Yellen, at a US-China Business Council event Thursday night, said the Trump administration «failed to make investments at home in critical areas like infrastructure and advanced technology, while also neglecting relationships with our partners and allies that had been forged and strengthened over decades.» Her comments come as the US rebuilds its relationship with the Asian superpower, including a November meeting between US President Joe Biden and Chinese President Xi Jinping in San Francisco. The two nations agreed to curb the production of illicit fentanyl, a deadly component of drugs sold in the United States, and agreed to resume military-to-military communications.

By Maha El Dahan, David Stanway and Valerie Volcovici

NEW DELHI : The wait for India’s new industrial policy just got longer with the government expected to take a fresh look at it following global supply chain shifts, greater urgency on the green agenda, and geo-political developments, two people aware of the matter said. Late last year, the Union commerce ministry had circulated the draft of Industrial Policy 2022—Make in India for the World, aimed to replace the 1991 policy. The draft aimed to address challenges faced by the industry through policy measures to foster and create an innovative and competitive ecosystem.

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InvestmentNews is proud to honor the top movers and shakers in wealth management in this year’s inaugural Hot List.

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Josh Jacobs, left fans and fantasy managers on edge during Week 14, exiting the game against the Minnesota Vikings with a quad injury. As the Raiders face the Los Angeles Chargers in Thursday Night Football for Week 15, Jacobs is labeled as «questionable,» with the possibility of a last-minute return despite missing practice due to his quad ailment.

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Housing affordability hit its worst level in more than four decades last quarter, according to the Bank of Canada, as housing prices and mortgage rates pushed higher.

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Dosti Realty is foraying into the business of housing society redevelopment and is looking to invest over Rs 1,000 crore over the next 2-3 years to build its portfolio under this segment, said a top official of the company. As its maiden project involving redevelopment work, the company has secured rights to redevelop a large housing society spread over a prime 2.5-acre land parcel in Thane’s Louis Wadi locality. In addition to this project, Dosti Realty is also in the process of finalising two key cluster redevelopment projects in Mumbai. “Dosti Realty has so far focussed on greenfield large township projects…The acquisition of rights to redevelop this society in the heart of Thane is a part of the growth strategy of the company and to expand its development portfolio by foraying into the redevelopment space on a larger scale.

Less than a month after Edelman Financial Engines acquired PRW Wealth Management, it’s adding another firm to its arsenal.

Citigroup Inc. is offering to pay some staffers a portion of their bonuses early if they agree to depart as executives continue with their restructuring of the Wall Street giant. 

NewEdge Capital Group says that 2023 has been a record-breaking year for growth, with advisors managing $9.6 billion in client assets joining its growing footprint.

Sage Advisory Services, a $23 billion investment manager based in Austin, Texas, has secured an injection of capital to assist its continued exponential growth.