Sustainability Financial News

Nifty closed the week, as well as, the month in the red at 22,530 ahead of the exit polls and election outcome. High fluctuations were witnessed during in May, as India VIX rose to 24 levels. Caution and risk management seem to be a trader's friend given the volatility that is expected to persist till the election outcome. Sudeep Shah of SBI Securities interacted with ET Markets regarding the current outlook on Nifty and Bank Nifty ahead of the election outcome week. Following are the edited excerpts from his chat:

An official survey shows that factory activity in China slowed more than expected in May, suggesting further pressure on an economy already burdened by a prolonged crisis in the property industry

Canadian investment manager Ninepoint Partners LP is temporarily suspending cash distributions in three of its private credit funds.

India's economy witnessed a robust growth rate of 7.8 per cent year-on-year in the January-March quarter, surpassing expectations due to strong performance in the manufacturing sector. According to government data released on Friday, the GDP growth in the fourth quarter of the FY24, was slightly lower than the revised 8.6% growth in the previous quarter. Furthermore, economists are optimistic about sustained momentum throughout the year.

We have curated a list of the best milk chocolates in India which are offered by some of the most renowned brands across the world. Indulge in the richness and creaminess of these chocolates and treat yourself with the perfect blends of bitterness, sourness, and sweetness. Go through the article and place your order using the buying links shared in the article below.

Boxing Federation of India (BFI) on Friday parted ways with the suspended IBA and joined the breakaway World Boxing in a bid to counter the threat to the sport's Olympic future. The move comes months after the International Olympic Committee reiterated its threat to leave boxing out of the 2028 Los Angeles Olympics if national federations continued to align themselves with the International Boxing Association (IBA). «It is absolutely vital to the sustainability of boxing that it retains its Olympics status, so we are delighted to join World Boxing,» BFI president Ajay Singh said in a press release.

Shiva Group of Industries looked at two objectives when it got into the water business — provide drinking water at an affordable price and use the product as a vehicle for marketing too. With the mercury soaring in Delhi-NCR now, their efforts stand to fulfil these objectives in the region. Kashiish Nenwani and Amit Nenwani, directors at Delhi-based petrochemical firm Shiva Group of Industries, got into the drinking water business in January by launching bottled water under the brand of Wahter. The 250 ml bottle is priced at Re 1. About 80% of the label space on the bottle is empty; advertisers can put their names and brands here for a price, say the husband-wife duo.

Sensex plunged 617.30 points to close at 73,885.60, while the Nifty 50 settled 216.05 points, or 0.95%, lower at 22,488.65.Nifty 50 formed a bearish candlestick pattern with upper and lower shadows on the daily timeframe.Also Read: Indian stock market: 9 key things that changed for market overnight - Gift Nifty, US GDP, jobless claims to China PMI“On the daily chart, the uptrend has weakened. Thursday’s negative closing has led to the Nifty closing below the previous swing high of 22,795.

Martin Smith is the George M. Woodwell Distinguished Professor of Environmental Economics at Duke University. Speaking to Srijana Mitra Das, he discusses ocean economics — and sustainable seas: Q. What is the core of your research? A. I work on the economics of oceans and coasts. Within economics, this is quite a niche area — yet, oceanic environments compose 70% of our planet. I focus on fisheries, seafood production and the markets for these. I also study aquaculture and the farming of fish as well as climate impacts and adaptations in coastal zones — whether these strategies are suited to the long term or maladaptive is tied to key economic issues. My work is linked with bioeconomics, which puts biology and economics together and studies stocks of natural resources alongside economic drivers of human systems.

Stocks to buy: The Indian stock market saw a significant sell-off on Thursday, May 30, coinciding with the expiry day of May futures and options (F&O) contracts. The Sensex concluded the session down by 617 points, marking a decrease of 0.83 percent, settling at 73,885.60. Meanwhile, the Nifty 50 wrapped up the day at 22,488.65, registering a decline of 216 points or 0.95 percent.“Nifty index opened negative and dropped in the first tick itself which was followed by some range bound move in the first half of the session.

Orient Electric, part of the diversified $3 billion CK Birla Group, has appointed Ravindra Singh Negi its managing director and CEO, effective May 31, 2024 (subject to regulatory approvals), the company said in a statement on Friday. Negi joins the Orient Electric Board as a full-time Director and will be based in New Delhi. “Negi’s extensive experience across industries and especially electrical consumer durables will be pivotal in guiding Orient Electric towards sustained growth,” CK Birla, Chairman, Orient Electric said in a statement. “Under his leadership, Orient Electric will accelerate its journey to becoming a future-ready consumer-centric organisation. He will continue to build organisation capability and execution excellence towards growing all key businesses.”

Allonby succeeds Tom Joy, who left in early April to pursue a new CIO position overseas. T. Rowe Price red flags Japanese Equity fund as underperformance persists In her role at T.Rowe Price, Allonby was vice president and head of the ESG enablement team, overseeing the firm's sustainability strategy and execution. Prior to that, she worked for over two decades at BlackRock, where she headed the global product group from 2017 to 2020, covering product development, structuring, strategy and pricing. Between 2014 and 2022, she was part of the Church Commissioners' board of trustee...

The U.N. telecommunications agency has kicked off its annual AI for Good conference in hopes of guiding business, consumers and governments on ways to tap the promise of the new technology but avoid its potential perils

Indian economy is on a firm footing with an improved external sector sustainability and a robust corporate balance sheet which along with a thrust on production linked incentive schemes could boost employment, said the Reserve Bank of India in its annual report. «The outlook for the Indian economy remains bright, underpinned by a sustained strengthening of macroeconomic fundamentals, robust financial and corporate sectors and a resilient external sector,» RBI said.

The two FS giants worked with Standard Chartered-owned Hong Kong digital bank Mox and asset tokenisation tech firm Libeara on the PoC, which took place on the Hong Kong Monetary Authority's Fintech Supervisory Sandbox. It saw the first live test of the Mastercard Multi-Token Network (MTN) used for a test scenario where a Mox client wants to buy a carbon credit to offset personal carbon usage and deposit the funds for this in their bank account. In the pilot, Mox requests Standard Chartered tokenise the desired carbon credit using Libeara. Then, through the Mastercard MTN, the client’s deposit is also tokenised and an atomic swap is initiated between the two instruments. The result is a transparent, real-time transaction between Standard Chartered and Mox, with the end client receiving access to a tokenised version of their carbon credit. This can be held in a digital wallet, or used to offset their carbon footprint. Mary Huen, CEO, Hong Kong, Standard Chartered, says: "The tokenisation of real-world assets and the potential use of different forms of tokenized currency is integral to the future of the financial industry."

Modi will hit a hattrick on June 4 election result day and, if so, with how many seats in the Lok Sabha. Stock investors are fine-tuning their portfolios with sectors that are likely to benefit if BJP retains power. Going by promises made in BJP's election manifesto, all-things-capex is emerging as the biggest investing mantra before elections.

GenAI landscape, navigating complex compliances such as transfer pricing, SEZ (special economic zone), labour and data laws are among key priorities for the global capability centres (GCCs) operating in India, said a Nasscom-KPMG survey report. «81% of respondents mentioned transfer pricing as the top regulatory priority for GCCs in India. More than half of the respondents highlighted SEZ laws and STPI regulations (67%) and labour laws (60%) among key regulatory priorities,» stated the report titled 'GCCs in India: Building resilience for sustainable growth', to be released today.

A 19-year-old actor from the Hallmark Channel series When Calls the Heart is on life support after she fell from a five-storey balcony at a Vancouver, B.C. hospital where she’d been receiving treatment, the family said.

The International Monetary Fund has upgraded its forecast for China's economy, while warning that reforms are needed to sustain growth

India, in collaboration with the World Health Organization (WHO), intends to further strengthen the drug regulatory system to ensure quick access to high-quality medical products for all, Union Health Secretary Apurva Chandra said on Wednesday. Chandra, who is leading the Indian delegation, addressed the Plenary Session of the 77th World Health Assembly of WHO in Geneva. The health secretary started his address by highlighting the similarities of this year's theme, «All for Health, Health for All» with the age-old Indian tradition of 'Vasudhaiva Kutumbakam' which means «world is one family», a health ministry statement said. He stated that under this theme, «India launched the 'Ayushman Bharat' meaning Live Long India to promote Universal Health Coverage by operationalizing more than 1,60,000 health and wellness centres (Ayushman Aarogya Mandir)».

On a quarterly basis, the chain posted a profit of Rs 247.6 crore for the fourth quarter of fiscal year 2024, up 168.7% year on year. EIH Limited posted revenues of Rs 781 crore for the fourth quarter of fiscal year 2024, up 17.6% year on year.