Sustainability Financial News

Cardea, a wealth manager established in 2018, is looking forward to a fresh start – and it’s getting a multimillion-dollar kickstart from a prestigious source.

Lionel Messi's injury has raised concerns among soccer fans as Inter Miami footballer has been out of action since Argentina's Copa America 2024 triumph on the US soil in mid-July. Now injured Argentina captain Lionel Messi has been left out of the squad announced by the Argentine FA for September's South American World Cup qualifiers against Chile and Colombia. The 37-year-old Messi was not included in the 28-man squad following an ankle injury sustained during last month's Copa America final in the United States. The Inter Miami player is currently recovering from a right ankle injury at his club. Neither Messi nor the Inter Miami club management has divulged details about his return for the competitive game.

By Ted Rechtshaffen and Michelle Hung

The study reveals that passive funds AUM has grown to Rs 10.2 lakh crore with 17% of total market share. The AUM of active funds stands at Rs 50.9 lakh crore as of June 2024. The equities take away the majority of the share with 59.75% of total AUM, followed by 26.95% in debt, 8.85% in hybrid and 4.44% in others.

Electrification and automation major ABB on Wednesday said it has surpassed 10GW in delivering solutions for renewable energy plants in India. This is a result of over 300 renewable energy projects across India utilizing ABB's IoT-based PLC solution, a company statement said. ABB's PLC-based SCADA (supervisory control and data acquisition) system is an automation control solution, which helps gather and analyze real-time data to run the plant optimally and enable low maintenance. With this, operators are also able to easily monitor and analyze key parameters of the plant and get complete visibility of plant operations.

Ola Electric launched its much-awaited bikes: the Roadster, Roadster X, and Roadster Pro. Ola has priced these bikes at a competitive starting price of Rs 74,999, a price level that places it as a strong rival to many city-ride bikes from major 2-wheeler makers in India including Hero Moto. The Roadster, which comes in three variants, is priced at Rs 1,04,999, Rs 1,19,999, and Rs 1,39,999 per unit. The Roadster Pro, which has two battery variants, is priced at Rs 1,99,999 and Rs 2,49,999 per unit. The Roadster X, with three different battery variants, is priced at Rs 74,999, Rs 84,999, and Rs 99,999 per unit. Of the three, the Ola Roadster is the one to watch out for.

Amul, has been recognized as the strongest food and dairy brand globally, according to the Brand Finance Food & Drink 2024 report. In a post on X (formerly Twitter), Amul posted, «We are pleased to inform you that Amul is ranked as the strongest food brand and strongest dairy brand in the world as per Food & Drink 2024, the annual report on the most valuable and strongest food, dairy & non-alcoholic drinks brands by @BrandFinance, world's leading brand consultancy» The annual report by Brand Finance, a global brand valuation consultancy, highlights the growing influence of Amul in the international market.

Noel Tata, Chairman of the CII Africa Committee and Chairman of TATA International Ltd. emphasized the growing need for innovative financial strategies to overcome challenges in India-Africa trade at the 19th edition of the CII India-Africa Business Conclave in New Delhi. He particularly highlighted the concept of Rupee trade as a potential solution, stating, «To address these challenges, we are exploring the concept of Rupee trade.» Tata underlined the importance of building mutual trust between financial institutions in India and Africa, stressing that this would pave the way for broader private-sector participation.

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

NARCL, which acquired EPC company Simplex Infrastructures' ₹9.600-crore debt from lenders led by Punjab National Bank (PNB), is exploring a restructuring plan to split the exposure into sustainable and unsustainable portions, potentially writing off the latter, sources told ET. The plan, which envisages gains for the company's stock on its approval, is in the early stages of discussions. NARCL had acquired the loan in cash and security receipts (SRs) for ₹640 crore earlier this year. The state-backed bad bank had bought the debt from lenders at a 93% discount. The banks involved include PNB, State Bank of India, Canara Bank, Bank of Baroda, Bank of India, Union Bank of India, RBL, IDBI Bank and Standard Chartered Bank.

comprehensive strategic partnership following talks between PM Narendra Modi and his Malaysian counterpart Anwar Ibrahim here. The two sides inked a number of pacts, including one on employment and repatriation of workers and another on boosting cooperation in digital technologies. The bigger focus of the talks was to expand trade and investment and explore cooperation in new and emerging areas.

IPO) of Orient Technologies will open for subscription on Wednesday. Ahead of the issue opening, the company's shares are commanding a healthy GMP of Rs 55. The company has priced the IPO in the range of Rs 195-206 apiece, and if we consider the upper price band, the shares are trading with a premium of 27% to the issue price.

This doll is no ‘Child’s Play.' A delicate-looking antique doll has now gained infamy for reportedly attacking 17 men. The doll, which is reportedly possessed by the spirit of a vengeful bride named Elizabeth, has become the focal point of numerous paranormal incidents at the Haunted Objects Museum in Rotherham, South Yorkshire.

Nifty ended Tuesday’s trading session with a gain of 126 points to end near the 24,700 level and form a small positive candle with minor upper shadow on the daily chart. The underlying trend of Nifty remains positive. A sustainable move above the hurdle of 24,700 levels could open the next upside target of 25,000-25,100 in the near term. Immediate support is at 24,500 levels, said Nagaraj Shetti of HDFC Securities.

The Fed has so far remained resolute that future rate cut decisions will be data driven as it maintained its target range for the Fed funds rate at 5.25%-5.5% in late July (31) until it is confident that inflation has hit its 2% target on a sustained basis.  Held between 22-24 August in Jackson Hole, Wyoming, the 47th annual conference will focus on «Reassessing the Effectiveness and Transmission of Monetary Policy» and provide central bankers such as Jerome Powell, chair of the Fed, to «clearly state their views», said John Plassard, senior investment specialist at Mirabaud Group. Fo...

jobs that did not exist around 10 years ago. These days, there is a requirement for an engineer to produce driverless cars, an influencer to alter consumer behaviour and promote products, and a specialist to analyse sheets of data and extract valuable information. These are just some of the many new job responsibilities and career paths that have emerged, and many more will emerge soon. Here's a glimpse of some careers that were non-existent a decade back but are now hungry for fresh talent: 1) Content creator – With the growing popularity of social media platforms like Instagram, Twitter, Facebook and YouTube among consumers, many individuals are turning to content creation. Making short videos and posting them on social media was considered a hobby earlier. However, today this skill can help individuals fetch thousands to lakhs just on a single post, depending on their reach. Plus, with more and more brands employing digital strategies, there is a surge in demand for influencers and content creators to market their products and influence consumer behaviour. Content creators are a brand in themselves whose voices are highly valued by consumers.

₹305 crore from Larsen & Toubro. However, analysts are unsure about the optimism. The contract is to manufacture opto-electronic components for L&T’s close-in weapon system programme, a critical component of the Indian navy’s defence infrastructure.

Sitharaman Monday asked public sector banks, or PSBs, to make concerted efforts to mobilise deposits by conducting special drives to sustainably fund credit growth. Sitharaman reviewed the performance of PSBs and asked them to expeditiously implement recent budget announcements, including, a new credit assessment model for MSME (Micro, Small & Medium Enterprises) based on digital footprint and cash flows. Sitharaman, a finance ministry statement said, observed that while credit growth had picked up, mobilisation of deposits could be improved further. The finance minister was reviewing the performance of PSBs on their financial parameters, deposit mobilisation, digital payments, cyber security framework, and access to credit under financial inclusion.

capacity utilisation, improved profitability of corporates, sustained credit demand, business optimism and government’s thrust on infrastructure development, is likely to increase the pipeline for project finance. An article in the Reserve Bank of India’s (RBI) monthly bulletin estimates that envisaged capex will increase significantly to Rs 2.45 lakh crore in 2024-25 from Rs 1.59 lakh crore in 2023-24. “The significant rise in envisaged capital investment of private corporates, based on the projects sanctioned by banks and financial institutions (FIs) during 2023-24, points to upbeat investment cycle. The total cost of projects sanctioned by banks/FIs increased to a record high of Rs3.90 lakh crore. Infrastructure sector continued to attract the major share of envisaged capital investment, led by ‘roads & bridges’ and ‘power’ sectors, reflecting the government push towards infrastructure development,” said an article from officials of RBI’s Department of Statistics and Information Management. The article said that healthy corporate and bank balance sheets, improved corporate profitability, sustained credit demand, rising capacity utilisation, and optimism in business provide conducive environment for private corporates to undertake investments going forward.

Union Health Ministry has instructed airports and land port authorities at Bangladesh and Pakistan borders to remain vigilant for international passengers displaying Mpox symptoms, news agency PTI reported. Three hospitals in New Delhi—Ram Manohar Lohia Hospital, Safdarjung Hospital, and Lady Hardinge Medical College—have been designated as nodal centers for the isolation, management, and treatment of Mpox patients. State governments have been asked to identify similar facilities under their jurisdiction. P K Mishra, principal secretary to the prime minister, convened a high-level meeting on Sunday to assess the country's preparedness for Mpox. Officials reported no current Mpox cases in India. According to the current assessment, the risk of a large outbreak with sustained transmission is low.

market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia. The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt. Plans also include adding eligible asset-backed securities and a requirement for independent external reviews of all ESG debt, according to a consultation paper released Friday.