Sustainability Financial News

inflation data is allowing the Federal Reserve to begin a «very reasonable» shift toward easing rates, but a still-strong U.S. labor market means that there's no rush to make decisions, International Monetary Fund chief economist Pierre-Olivier Gourinchas told Reuters. Gourinchas said in an interview accompanying the release of new IMF growth forecasts on Tuesday it is better for the Fed to wait a bit longer to ensure there are no further upside surprises on inflation like those in the first quarter that delayed expected rate cuts to later this year. «Given the good news on inflation, it's very natural that the Federal Reserve is now starting to look at what's happening in the labor market and wanting to make sure that they don't overdo it» with tight monetary policy, Gourinchas said.

JPMorgan Asset Management Chief Market Strategist Gabriela Santos analyzes the Federal Reserve's decision making on 'The Claman Countdown.'

Mint. The plan involves launching at least one satellite in collaboration with ISRO for weather profiling in each state, and increasing by ten-fold, the number of observation stations, rain gauges, radiosonde (a meteorological device that measures atmospheric parameters and transmits it back to ground stations) and wind profilers deployed in the country.

Mint in an interview. The volume of deals in the broader ecosystem has dropped over the past four years as uncertain macroeconomic conditions led investors to pursue fewer bets in select companies with a well-defined path to profitability. According to data sourced from Tracxn, single family offices made 31 investments in the first half of 2024 compared with 50 investments in the same period in 2023 and 120 investments in 2022.

«It was largely the 125cc segment that has maintained and despite that the company has reported that kind of growth in overall motorcycle sales,» says Abhishek Gaoshinde, Sharekhan By BNP Paribas. Help us with your first cut on the earnings of Bajaj Auto. How do you see the numbers versus your estimates as well as what was the standout point for you in the earnings and the press release? Abhishek Gaoshinde: Broadly what we can see that the numbers were in line with the estimate given that kind of a volume growth and the product mix that the company has reported.

«Now it is high time and looking at the patterns and volumes, it looks like there can be further upside to all this realty and infra stocks even considering the budget is on the next week,» says Vishal Malkan, malkansview.com. Let us start with your view coming in just on the overall benchmark indices as well as in terms of if you would look at the Nifty Bank also what is it that we are watching out here? Vishal Malkan: I think Nifty and Bank Nifty are sustaining above the resistance levels which were there for 24,500 and 52,400 for both respectively. That means there is an undertone which is very strong, though the indices are not going in a big way, but we have sector performance and stock specific movement are great, so we should focus on that.

Budget 2024 Expectations Live Updates: As the Union Budget 2024 approaches, various sectors are abuzz with expectations for significant policy shifts and financial allocations. The real estate industry hopes for renewed tax reliefs and infrastructure investments, while the financial sector looks forward to grants for Bank Mitras.

₹3.5 trillion of assets under management by 2030, from just over ₹63,200 crore as of 30 June, Das told Mint. The state-owned company has already filed an application with the government for its FPO, and subject to approval, it will be looking to raise ₹4,000-5,000 crore via an issue of fresh equity, he said. “We require at least ₹4,000-5,000 crore of equity infusion by this fiscal in order to ensure that a healthy CRAR is maintained," Das said. CRAR is capital-to-risk assets ratio, which is a measure of a bank’s capital to its risk-weighted assets.

immovable assets such as real estate to bring about uniformity. Currently, any capital gain from the sale of real estate held for 24 months or less is treated as a short-term capital gain. In contrast, the holding period threshold for listed equities and equity mutual funds is 12 months. The proposal suggests that property held for more than 12 months be considered long-term assets, bringing this in line with equities and equity mutual funds, a person privy to the deliberations told ET. However, there may not be any change in the tax rates for both long-term and short-term capital gain. The long-term capital gains tax on property is 20% with indexation benefits to adjust for inflation.

Several commercial fishermen in New England have been sentenced in a fraud scheme that centered on a critically important species of bait fish and that prosecutors described as complex and wide-ranging

Tense deliberations over how and if to allow deep sea mining are unfolding in Jamaica as at least one company threatens to apply for permission before rules and regulations are in place

Panchayat department is planning to create a marketing board dedicated to SHGs and FPOs in the Panchayat Department. “We are going to make a marketing Board separately dedicated to SHGs and FPOs in the Panchayat Department. Market linkages, capacity building, livelihood opportunities and research will be looked into by the Board. We are forwarding the proposals to the state government,” P Ulaganathan, Secretary in West Bengal Panchayat & Rural Development Department. “We have chosen 150 women from Self-Help Groups and IIM Kolkata are training them. We are funding them. Earlier their income was Rs 10-12,000 but it has touched Rs 10 lakhs now. Their products are available in New Delhi and Mumbai. It has happened with the help of IIM-Joka,” Ulganathan said, adding “We are doing entrepreneurship programmes in the state”.

In a groundbreaking move that sets a new precedent in the DeFi sector, Zeebu, a leading Web3 payment platform for the telecom industry, is thrilled to announce its upcoming quarterly token burn event, governed by the ZBU Phoenix Protocol and its innovative ‘ZBU Protocol’. This is in a bid to revolutionize the DeFi payments landscape.

According to a UBS survey of reserve managers from 40 central banks, around 37% of respondents argued risks coming from «unsustainable government debt levels» have grown in importance in the last year, up from 14% a year before. Around 46% of those interviewed said they are worried debt sustainability issues could lead to a decline in demand for government bonds. However, the number of respondents concerned about the risk of a global economic recession has dropped significantly, from 56% in 2023 to only 13% in 2024. Geopolitical conflicts remained the main concern for many responde...

CropLife India, which describes itself as an association of 17 R&D driven crop science companies, has claimed in a media release that a proposal towards enhancement of customs duty on agrochemical formulations to 20%; would hurt the interests of the farmers of the country, in terms of higher costs of farming and non-availability of the newer products. «The idea of doubling customs duty was being proposed based on ‘misinformation’; in the last couple of months, about the “huge” formulation imports in the country. However, the actual data of import proves otherwise,» said Croplife in the release. Durgesh Chandra, Secretary General, CropLife Indiasaid,“Imported Formulations hardly constitute 20% of total imports of agrochemicals in India. Theproposal to increase custom duty on formulations will set the wrong precedent, signal uncertainty in ease of doing business, will question the stability of Indian policies and send out wrong signals for both foreign and Indian investment in this sector; apart from not achieving any significant financial benefit for the exchequer”.

The near-term trend of Nifty remains positive. Having sustained above the hurdle of 24,400 levels (1.618% Fibonacci extension), there is a higher possibility of further gradual upmove in Nifty towards 24950 levels in the next one week. Immediate support is at 24,450, said Nagaraj Shetti of HDFC Securities.

Budget 2024, the spotlight is firmly on the Production-Linked Incentive (PLI) schemes, which have been instrumental in revitalizing the manufacturing sector and strengthening supply chains. The government's proactive steps in enhancing these schemes signal a commitment to bolstering India's economic growth, increasing employment, and positioning Indian industries on the global stage. In a significant move, the Indian government has hiked the allocation for the PLI scheme to ₹6,200 crore during the interim budget for FY25, marking a 33% increase from the previous year’s estimate of ₹4,645 crore. This substantial boost underscores the government's dedication to supporting manufacturing and supply chains across the 14 sectors currently covered, which include mobile phones, pharmaceuticals, automobiles, and electronic products.

Against a backdrop of intensifying climate protests targeting Wall Street, the heavyweights of US finance are pushing back against what they characterize as a fundamentally flawed debate.

Nifty Bank rallied nearly 200 points on Monday but failed to close above the 52,500 level, which is a crucial resistance level for the index. It closed 177 points higher at 52,455 while the Nifty50 rose 84 points to close at 24,586.

Tecnimont, together with sustainable technology solutions arm Nextchem, has been awarded an engineering design study (first phase of the front-end engineering design) for a green ammonia plant to be located in India. The contract was awarded by Sembcorp Green Hydrogen India. Tecnimont secured the contract through its Indian subsidiary Tecnimont Pvt Ltd (TCMPL). The study will leverage Nextchem’s digital tool ArcHy (Architecture of Hydrogen systems), to overcome the challenge of the intermittency of renewable power usage, resulting in capex and opex efficiency of the plant lifecycle, the company said in a statement.

Speaking before the House Financial Services Committee last week (9 July) Yellen was asked about her biggest concerns around foreign institutions regarding the US, one of which was the «protection of the dollar». Fed postpones rate cut until 'greater confidence' in sustainable inflation levels She said: «We have very powerful sanctions that are that are available because of the important role of the dollar in international transactions, the ability to cut off foreign banks or other businesses or individuals from the ability to transact through the US Financial system and to participate...