Sustainability Financial News

International Labour Organisations has projected the global unemployment rate a tad higher at 5.2% in 2024 compared to 5.1% in 2023 and said that working poverty will persist while the income inequality will widen, suggesting a need for greater social justice for a sustainable recovery. In its World Employment and Social Outlook Trends: 2024 report, released on Wednesday, the ILO said labour markets have shown surprising resilience despite deteriorating economic conditions, but recovery from the pandemic remains uneven as new vulnerabilities and multiple crises are eroding prospects for greater social justice. According to the report, both the unemployment rate and the jobs gap rate, which is the number of persons without employment who are interested in finding a job, have fallen below pre-pandemic levels with the unemployment rate at 5.1% last year compared to 5.3% in 2022. “However, beneath these numbers fragility is starting to emerge,” it said, projecting that both the labour market outlook and global unemployment will worsen. “In 2024 an extra two million workers are expected to be looking for jobs, raising the global unemployment rate from 5.1% in 2023 to 5.2%.” As per the report, disposable incomes have declined in the majority of G20 countries and, generally, the erosion of living standards resulting from inflation is, “unlikely to be compensated quickly”. Pointing towards the differences between higher and lower income countries, ILO said the jobs gap rate in 2023 was 8.2%t in high-income countries while it stood at 20.5% in the low-income group.

This year’s luxury housing market will be dominated by buyers clamoring for sustainable homes, according to a new Luxury Outlook Report from Sotheby’s International Realty.

The Indian rupee recouped early losses to end higher for a sixth consecutive session on likely foreign inflows.The rupee settled at 83.0350 against the U.S. dollar, its highest closing level since Dec. 15, against its close of 83.1150 in the previous session.The local unit opened lower and hit an intraday low of 83.18 earlier in the day, before rising to an over three-week high of 82.98 in the session.

Puravankara has reported a sales value of Rs 1,241 crore for Q3FY24, a significant surge from the Rs 796 crore noted in the corresponding quarter of the prior fiscal year. Puravankara highlighted its record customer collections in Q3 FY24, reaching Rs 941 crores, marking a 52% year-on-year increase from Rs 621 crores in Q3 FY23. Ashish Puravankara, Managing Director, Puravankara Ltd., said, “The first nine months of FY24 has seen exceptional pre-sales, marking a strong growth of 89 percent Y-o-Y growth.

Ashok Tyagi, Whole Time Director, DLF, says” “It has only been a couple of quarters that we have now come in the positive cash surplus trajectory. We had a debt mountain which significantly we had reduced in 2017 with the GIC transaction, then to some degree with the QIP in 2019. And the rest is all done through operational flows. Future cash flows should hopefully be split across growth and dividend.” Tyagi further says: “At least two major launches are lined up in Gurgaon. One launch is lined up in Mumbai, which obviously is a small launch, of about Rs 2000 crore. One launch is lined up in Goa and one launch should hopefully be lined up in Chennai, the approvals are still in the final stages. There will be at least one small launch in the Tri-City of Chandigarh as well. I think we have the launch pipeline pretty well covered.” You have raised Rs 7,200 crore in your new project in less than 72 hours? Ashok Tyagi: That is correct. Is it true? Ashok Tyagi: It is true. We have made an official release also now. This was a project just off the southern periphery road in Gurgaon and it is a relatively newer geography for us. And we launched this project, Privana South with about 1100 odd apartments costing about Rs 7 crore each. And it is true that it all got sold in 72 hours.

Wodehouse Capital Advisors, a mid-market investment bank, has introduced the W.I.N. Strategy, an innovative investment solution tailored specifically for high-earning professionals, business families, and celebrities. 

Narendra Modi on Wednesday unveiled India's 25-year goal, propelling the nation towards developed nation status by 2047, aligning with the centenary celebration of independence. PM Modi, reflecting on India's global influence through its G20 Presidency, emphasized the country's priorities, aspirations, and commitment to human-centric development and equality. He underscored India's focus on sustainable development, infrastructure, new-age skills, artificial intelligence, and innovation as key pillars of this transformative vision. Highlighting India's economic trajectory, PM Modi stated, «Today, India is the world's fifth-largest economy.

Mahindra & Mahindra: Mobileye Global Inc will supply advanced driver assistance technology for the automaker's next-generation vehicles as it eyes growth in India’s auto market. The companies will also work together on a fully autonomous driving system for India. M&M also announced the acquisition of stake of sustainable energy infra trust by the company and its arm Mahindra Susten.

MUMBAI : India-focused venture capital fund Gruhas, backed by Nikhil Kamath, and creator marketplace Collective Artists Network have launched Gruhas Collective Consumer Fund (GCCF) to back emerging consumer-focussed companies. GCCF will raise and deploy ₹150 crore initially, with both Gruhas and Collective Artists contributing an equal amount to the fund, and subsequently securing additional fund from external sources. The fund will seek to sustain an average deal size of about ₹8 crore ($1 million) each.

Quiver Quantitative — In the dynamic world of finance, bond markets are presenting a fascinating scenario for 2024. Pacific Investment Management, managing a staggering $1.7 trillion in assets, foresees a unique opportunity in bonds. Despite the steep decline in yields from last year's zenith, Pimco's recent cyclical outlook predicts bonds can still yield equity-like returns in the coming six to 12 months. This period is expected to sustain recent gains in the bond market, albeit without further extension, diverging from their October recommendation to increase interest rate exposure.

The CEO of JetBlue is stepping down, and he's being replaced by the first woman to head a major U.S. airline

CES 2024 starts today in Las Vegas

PwC India survey report on tax transparency in ESG released on Tuesday, 93% of the corporate respondents surveyed believe tax incentives are relevant or very relevant for the adoption of ESG practices and nearly 60% believe that there is a need for policy makers to incentivise ESG practices. 86% agree that preserving the environment will be a key focus area where companies would like to invest if they receive tax incentives. There is also significant interest in using tax incentives for inclusion and diversity initiatives (54%) and addressing social vulnerability (37%) The report titled 'Tax transparency in ESG: Insights into Indian businesses and their sustainable practices' is based on a market survey of nearly 250 tax heads, sustainability leaders, CFOs & CXOs of Indian businesses conducted between April and July 2023. It analyses how Indian businesses are weaving tax considerations into their overarching ESG framework and to assess their awareness and perception in this regard.

If there’s a month dedicated to self-betterment, it’s January. The gyms are full, the pubs are empty, and green juices are flying off the shelves. Even with the best of intentions, the vast majority of New Year’s resolutions don’t last very long.

India has emerged as the third most important market from a local sales perspective for French automation and software company Schneider Electric that is looking to capitalise on five mega trends that is shaping global companies, the most important of which is the growing demand for its energy saving systems, said its top executive. It will be investing Rs 3200 crore ( euro 350 million) in expanding industrial footprint with 5 new greenfield factories in energy management and both automation products. “If you take the CO2 footprint that is generated today, 81 per cent of that is related to energy.

Narendra Modi received him at the airport and the two will hold a roadshow. Gujarat Chief Minister Bhupendrabhai Patel, External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval, Foreign Secretary Vinay Mohan Kwatra and other officials were present at the airport to welcome the UAE President. The UAE President was accorded a ceremonial guard of honour upon his arrival.

ALSO READ: Vibrant Gujarat Global Summit 2024 to be inaugurated by PM Modi: 10 key highlights UAE President Sheikh Mohamed bin Zayed Al Nahyan is among the special guests who will attend the Summit. He is in Ahmedabad and will attend the Summit. Among the global leaders to attend the Summit include Australian High Commissioner Philip Green, Malta High Commissioner Reuben Gauci, Ambassador of Netherlands to India Marisa Gerards, President of Timor-Leste José Ramos-Horta, Ambassador of Japan to India Hiroshi Suzuki, Thai envoy to India Pattarat Hongtong, and others.

TORONTO — Canada’s Big Five banks are potentially misleading investors with their use of terms like sustainable finance, according to a complaint to securities regulators by a climate advocacy group.

Leading New Mexico lawmakers are recommending a 5.9% increase in general fund spending for the coming fiscal year amid a windfall in oil-related income

CES 2024 kicks off in Las Vegas this week

FINER) will hold Northeast Renewable Energy & Electric Vehicle Expo-2024. Scheduled from the 19th to the 21st of January 2024, the event will take place at the Sarusajai Stadium in Guwahati, Assam. FINER said the Northeast Renewable Energy & Electric Vehicle Expo-2024 will serve as a significant platform strategically designed to highlight and showcase the latest advancements and innovations in the field of renewable energy and electric vehicles. Featuring more than 100 stalls, the exposition promises to showcase cutting-edge technologies, products, and services in renewable energy and electric vehicles, providing a comprehensive display of transformative technologies, from solar panels to electric vehicles and charging infrastructure. The expo will bring together manufacturers, developers, and service providers to showcase technologies, products, and services related to renewable energy and electric vehicles.