Target Financial News

Canada’s record population growth in the third quarter brings its housing crisis into the spotlight once again, with economists urging governments to boost spending to accommodate all the new arrivals.

MUMBAI : The Reserve Bank of India’s new rule barring banks and non-banks from investing in alternative investment funds (AIFs) having downstream investments in debtor funds is impractical, risking a freeze on the AIF industry, said investors. According to RBI, debtor firms are those which have either borrowed or received investments from the same banks or NBFCs in the past 12 months. Investors believe ₹20,000-40,000 crore of assets under management will be affected if the banks and non-banks have to unwind their investments in 30 days or make 100% provisioning.

₹4,200 crore this year on implementing the scheme. One way to scale up would be to target what is called the “missing middle"—those who hover just above the poverty line and therefore do not qualify for benefits, but are still too poor to afford private healthcare.

MUMBAI : The objective of aligning India’s inflation with the 4% target on a sustainable basis is far from assured, according to an article in the Reserve Bank of India (RBI)’s December bulletin. It also cautioned against, what it called a case of hypermetropia or far-sightedness, among some of its stakeholders. In the article titled State of the Economy, it said that softer retail inflation figures for September and October 2023, along with a prolonged pause in the monetary policy stance, resulted in an irrational long-sightedness.

NEW DELHI : Shah Rukh Khan’s Dunki and Prabhas’ Telugu film Salaar are gearing up for a box office clash this weekend during the Christmas holidays. While this may spark a screen tussle in select markets, theatres across India expect to end the year on a high note considering that the two films target different demographics.

IDBI Bank, Shipping Corp. of India Ltd, BEML Ltd and Container Corp. of India Ltd.

NEW DELHI : Vedanta Group company Runaya is planning to enter the mine tailings treatment space, as it seeks to expand its portfolio, Naivedya Agarwal, co-founder and CEO, said. Tailings are basically the leftovers or by-product of the mining process, which need to be managed or disposed after the valuable mineral is separated from the ore. Runaya has already ventured into recovery of materials from zinc and started a facility for smelting zinc waste to recover minerals like nickel, cadmium, cobalt, lithium, Agarwal said in an interview.

Also Read: Swiggy ties up with Simpl to introduce 1-tap checkout ahead of Christmas and New Year As per the order, there are high chance that terrorist or anti-national elements might try to create chaos during the upcoming celebrations of Christmas and New Year. Also Read: New Year, New Wallet: 5 financial resolutions to keep yourself secure in 2024 They are likely to use drones, remote-controlled microlight aircraft, and paragliders to target VVIPs and endanger the life of the public at large, destroy public property, and disturb law and order in the metropolis, said the police order.

But who are these Houthi rebels attacking ships in the Red Sea, what do they want? Let's take a deep dive into the crisis: Houthi rebels are backed by Iran. They seized Yemen's capital, Sanaa, in 2014, launching a grinding war. They are formally known as Ansar Allah, or the “partisans of God." As of now, the Yemeni rebel group controls the west of the country, including its Red Sea coast, the Guardian reported.

It’s tempting to dismiss the outcome of COP28, the recent United Nations climate change conference in the United Arab Emirates, as mere verbiage, especially the “historic” UAE Consensus about transitioning away from fossil fuels. After all, this is the 28th such conference and the previous ones all pretty much came to nothing. On a chart showing the steady rise in global CO2emissions since 1950 you cannot spot when the 1997 Kyoto Protocol entered into force (2002), with its supposedly historic language binding developed countries to cap their CO2 emissions at five per cent below 1990 levels by 2012, which they didn’t do. The 2015 Paris Agreement also contained “historic” language that bound countries to further deep emission reductions. Yet the COP28 declaration begins with an admission that the parties are not on track for compliance.

Ottawa rolled out its timeline for the full transition to electric vehicles on Tuesday, but some industry watchers are concerned the path to get there is not realistic.

A Vancouver payment processing company under investigation for alleged direct-mailing scams has forfeited $10 million in a settlement agreement with the B.C. Civil Forfeiture Office — the single largest forfeiture in the history of the office.

The Bank of Canada is looking for clear evidence of “further and sustained downward momentum in core inflation” before it considers cutting interest rates. That was the message governor Tiff Macklem addressed directly to markets in a press availability after his annual year-end speech on Dec. 15.

India has a long way to go before it achieve its commitment of eliminating child labour in the country by 2025, a parliamentary panel said, suggesting a need for a uniform definition of ‘child’ under various laws. “The implementation of the policy has to go a long way for achieving the objective of elimination of child labour as per commitments made by the county after ratification of ILO conventions and to achieve the target stipulated in Sustainable Development Goal 8.7 to end all forms of child labour by 2025,” the parliamentary standing committee on labour said in its 52nd report tabled in the Parliament on Wednesday. Noting that different definitions of ‘child’ under various laws leads to ambiguity, the committee called for examining the discrepancies in the criteria for determination of age of child and suggested a relook at the offences as being congnizable or non-cognizable to ensure that these do not lead to any ambiguity as well as delay in justice to the aggrieved children. The Committee noted that the employment of children in contravention of the Child and Adolescent Labour (Prohibition and Regulation) Act, 1986 (CALPRA) Act is a cognizable offence, whereas under the Juvenile Justice (Care and Protection of Children) Act, 2015, it is a non-cognizable offence. The Committee also proposed setting up of a National Level Child Tracking Mechanism to facilitate coordination among the states and the centre in such a way that the monitoring at district level is reported to states and from there to centre by digital mode through coordinated efforts of all concerned so as to facilitate prevention, tracing, tracking, rescue, rehabilitation and reintegration of the rescued children.

By Divya Chowdhury

Germany’s federal prosecutor has filed a motion for asset forfeiture concerning more than 720 million euros or $789 million of frozen Russian money

Inflation in the U.K. as measured by the consumer prices index has eased back to its lowest level in more than two years

Former Chelsea owner Roman Abramovich has lost in his legal attempt to overturn sanctions imposed by the European Union for his role in the Russian invasion of Ukraine

Three of the world’s biggest porn websites face new requirements in the European Union that include verifying the ages of users

Rite Aid has been banned from using facial recognition technology for five years over allegations that a surveillance system it used incorrectly identified potential shoplifters, especially Black, Latino, Asian or female shoppers

Amit Shah on Wednesday asserted that the Modi government has delivered what it promised and highlighted the construction of Ram temple in Ayodhya and enactment of the women's reservation bill as key achievements. During a debate in the Lok Sabha on the three bills which seek to replace the IPC, CrPC and the Evidence Act, Shah said the government led by Prime Minister Narendra Modi has delivered key promises made in its election manifesto and abrogation of Article 370 which gave special status to Jammu and Kashmir was one of them.