Sustainability Financial News

NEW DELHI : Android maker Google on Friday said it will start allowing all real-money games on its Play Store marketplace, as long as they are not illegal under local regulations. The move follows a September 2022 pilot allowing online rummy games and what Google classified as ‘daily fantasy sports’, and will be brought into effect after the pilot ends on 30 June.

In a seismic shift in the tech industry, Microsoft (NASDAQ:MSFT) briefly dethroned Apple (NASDAQ:AAPL) as the world's most valuable company yesterday, boasting a market cap of $2.888 trillion against $2.887 trillion for the Cupertino, California-based behemoth.

standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2023," RIL said in a regulatory filing. “A presentation to analysts and media on financial results of the Company for the quarter and nine months ended December 31, 2023, shall be made on the same day after the meeting," it added. The Q3 results will come as the shares of the company recently touched a new 52-week high of ₹2,658.95 on the BSE.

“Hy-Box technology is an outcome of extensive research and development pursuits based on reliable scientific analysis and study, which has the potential to accelerate the pace of offering a clean and sustainable alternative to conventional fossil fuels,” said Gaurav Tiwari Tony, who has not only worked on Liquefied Natural Gas (LNG) projects but has also built a Floating Storage Regasification Unit (FSRU)-based LNG terminal. FSRU is a floating vessel that can transport, store, and re-gasify Liquefied Natural Gas (LNG) on-board. He revealed that the new Hy-Box Technology is purely a thermal heat technology where a 200-degree hard rock is used to generate steam in a closed loop, which is then directed to propel turbines to generate green power.

Mahanagar Gas, the city utility arm of Gail India, on Friday announced a joint venture with Baidyanath LNG, the first domestic firm to set up LNG retailing outlets, to form Mahanagar LNG. The joint venture will focus on developing LNG infrastructure to cater to the increasing demand for clean and sustainable energy solutions for the long-haul and close-loop transportation segments, MGL said in a statement.

State Bank of India (SBI), the country’s largest Bank has launched a special fixed deposit (FD) scheme. SBI Green Rupee Term Deposit (SGRTD) has been launched to mobilise funds to support environment-friendly initiatives and projects, thereby fostering the growth of a green finance ecosystem in India, as per the release shared by the bank

HDFC Flexi Cap Mutual Fund, one of the oldest running MF schemes in India, has grown nearly 150 times in over 29 years to deliver a staggering return of 18.87% CAGR during the period. An SIP of Rs 10,000 invested since inception on January 1, 1995, systematically on the first business day of every month (total investment Rs 34.8 lakh) in the fund would have grown to Rs 16.5 crore by December 31, 2023. Such performance is a testament to the fund's ability to navigate market fluctuations and deliver steady growth to investors, the AMC said. HDFC Flexi Cap Fund is an open-ended dynamic equity scheme investing across largecap, midcap and smallcap stocks.

Vedanta Resources to SD, or selective default, calling the company’s recent bond restructuring exercise as a distressed transaction. This is the second downgrade for the company this week after Moody’s downgraded its corporate family rating to Caa3 from Caa2. "We view Vedanta Resources' just concluded liability management exercise, which involved three of its US dollar-denominated bonds, as a distressed transaction," S&P analysts noted.

renewable energy for a cleaner future, 'Make in India' for domestic manufacturing, and EV infrastructure development. Key in this arena is the rise of green infrastructure, like LEED-certified buildings, which exemplify sustainable real estate practices. ESG (Environmental, Social, and Governance) criteria further enrich this domain, enabling investors to evaluate companies on broader societal impacts.

PARIS (Reuters) — Stellantis (NYSE:STLA) announced on Friday that it is investing in French sodium-ion battery startup Tiamat to diversify its portfolio and mass-produce electric vehicles while reducing exposure to scarce resources.

New Delhi: India’s G20 Sherpa and former NITI Aayog chief executive Amitabh Kant emphasized the country's strategic shift towards a circular economy, citing its potential to foster environmental conservation, economic growth, and job creation. Speaking at the ‘FICCI Circular Economy Symposium’, Kant set forth an ambitious target for India to reduce the cost of green hydrogen production to $1 per kg by 2030, down from the current rate of $4.5 per kg. Kant underscored the urgency for India to accelerate its growth rate from the current 7.5 percent to between 9 and 10 percent per annum in the coming years, with a particular focus on renewable energy and green hydrogen.

Infosys and Tata Consultancy Services, Dalal Street investors’ attention will shift to HCLTech and Wipro, who will release their quarterly numbers later today. Brushing off the seasonality factor, HCLTech is expected to report strong earnings for the December quarter, while Wipro may continue to disappoint the market. If we look at the performance of HCLTech and Wipro stocks in the last quarter, then the former has rallied nearly 19% and the latter about 16%. Entering into the new year, HCLTech shares are still holding on to gains, whereas the frenzy fizzled out in Wipro as the stock has corrected about 5% so far this month. Whether Wipro shares will correct further or HCLTech shares sustain the upward momentum depends upon their earnings scorecard.

Union Budget 2024-2025 is expected to have a significant impact on the MSME sector, which is considered the backbone of India’s economy as it contributes to about 30% of our GDP, 48% of exports, and employs over 11 crore people. “Allocation of more funds for the ‘Raising and Accelerating MSME Performance’ (RAMP) scheme would provide major financial and technical support to MSMEs.

As we step into the new year, the World Economic Forum (WEF) Annual Meeting offers corporate leaders, policymakers and other stakeholders a chance to assess the year gone by and take stock of challenges and opportunities, extending to geopolitical developments, climate exigencies and economic hurdles. India has long had a significant presence at Davos and Indian industry has put together a formidable agenda aligned with the WEF’s theme of ‘Rebuilding Trust’ this year.

“Key areas of focus could include tax relief measures to boost consumption and investment, especially for salaried individuals and MSMEs,” says Sonam Srivastava, smallcase Manager & Founder, Wright Research. In an interview with ETMarkets, Srivastava said: “Increased allocation for infrastructure projects is anticipated, which would create jobs and stimulate economic growth,” Edited excerpts: The market seems to have climbed all wall of worries to hit fresh highs in the first week of January 2024. But the voice is getting louder both domestic and global that these valuations are unsustainable. What is you take? Sonam Srivastava: The market reaching new highs in early 2024 reflects a blend of optimism and speculative fervor. The concerns about unsustainable valuations, both domestically and globally, are not unfounded.

SIP registrations hit a record four million during the month, according to data from the Association of Mutual Fund in India (AMFI). It was 2.2 times that of the monthly average for the past five years.

TCS and Infosys reported a sustained new deal momentum during the seasonally weak December quarter amid economic uncertainties in key markets of the US and Europe. In addition, each of the companies continued to show lower employee attrition and falling headcount which reflects the muted demand outlook in the short term despite fresh deal wins.

Quiver Quantitative — The liquefied natural gas (LNG) industry is witnessing its largest-ever wave of megaprojects, signaling a robust future for natural gas in the global energy mix. Despite international efforts to move away from fossil fuels, exemplified by the recent UN climate talks in Dubai, the energy sector is betting heavily on natural gas. This commitment is evident in the expansion of the world’s largest natural-gas export facility in Qatar and the initiation of massive LNG projects in the United States. These developments are underpinned by the belief that natural gas, as the third leading fossil fuel, will remain a significant part of the world’s energy portfolio through at least 2050.

Federal Reserve Bank of Cleveland President Loretta Mester said it was premature to consider cutting interest rates as soon as the US central bank’s March meeting, emphasizing that fresh inflation data suggests policymakers have more work to do. “I think March is probably too early in my estimate for a rate decline because I think we need to see some more evidence," Mester, who votes on interest-rate decisions this year, said Thursday in an interview with Michael McKee on Bloomberg TV.

India as the businesses in the country have been leading in terms of investing in social causes, a senior UN official said on Thursday and stressed that business is the key driver that will deliver the sustainable development goals. The United Nations Resident Coordinator in India Shombi Sharp also said that Corporate Social Responsibility (CSR) is indispensable in India's journey, where businesses are at the forefront in the efforts of the country to become a USD 5 trillion economy. «The world needs business and the world needs India and as India leads, the world is following,» he said at a conference on CSR in the national capital.