Target Financial News

JOHANNESBURG (Reuters) — South Africa's National Treasury said it will implement a number of cost-cutting measures to rein in government spending, including a hiring freeze, after a shortfall in revenue collection.

Investing.com — Has U.S. gasoline demand peaked for this time of year? Well, that’s what the Labor Day holiday supposedly says. 

LONDON (Reuters) -British finance minister Jeremy Hunt said on Saturday inflation was on track to halve by the end of 2023, vowing to focus on the goal as he laid out his priorities ahead of the reopening of parliament after the summer break.

By Steven Scheer

electric scooter manufacturer, Apollo Imports, has initiated a product recall due to safety concerns surrounding a potentially hazardous loosening bolt. The recall, prompted by the Consumer Product Safety Commission (CPSC), targets Apollo's Phantom Electric Scooters produced in China. The identified issue impacts the Phantom V1, V2, and 60V electric scooter models, which were available for purchase from June 2021 to May 2023.

The Victorian Business Growth Fund, which is managed by Sydney private equity investor Roc Partners, has cut a cheque for insurance repair specialist Skyline Business Group.

Four mainstream Australian insurers say they avoid deliberately inflating premiums for customers predicted to be more likely to tolerate higher price renewals, contrasting with allegations levelled against major provider IAG.

Fortescue Metal’s new mining chief executive, Dino Otranto, will meet with the company’s local investors this week after a volatile period during which his predecessor left after just six months in the top job and with brokers warning shareholders were in the dark about the board’s risk appetite.

Here's how analysts read the market pulse:«Investor sentiments were mostly cloudy due to mixed market trends on the global and domestic fronts. Concerns about the progress of US policy measures weighed on both domestic and global markets after the Fed Chair expressed his commitment to managing inflation within target bounds.

Prime Minister Narendra Modi has made a renewed pitch for diversity in the energy mix, saying there is no one-size-fits-all solution for a world looking to transition from fossil fuels to cleaner sources like solar and hydrogen. India, the world's third-largest energy consumer, has repeatedly stressed on energy transition being just and orderly and nations having a free hand in decisions on the pathway based on the availability of resources. «Our principle is simple — diversity is our best bet, whether in society or in terms of our energy mix,» he told PTI in an exclusive interview here ahead of the G20 summit. «There are no one-size-fits-all solutions.

Nifty has started the September series on a bullish note, as the index has moved above the 21EMA for the first time in several days. This suggests the potential for a bullish reversal. Additionally, the index has broken out of a falling channel, further indicating increasing bullish sentiment.

Sectorally, buying was seen in metals, utilities, telecom, and public sector while some selling was seen in healthcare stocks. Stocks that were in focus included names like MTAR Technologies, which was up more than 10%, BHEL, which closed with gains of over 12%, and Tata Steel, which rose more than 3% on Friday. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:Analyst: Sanket Thakar, CMT, Founder- Alpha Bot CapitalMTAR TechnologiesMTAR Tech has broken its all-time high level and has stayed above the high by giving a weekly closing signifying strength in bulls. Apart from the current week's price action, volume has also been at the highest level in the last 2 years. For traders, the immediate targets are at extension levels of Rs 2,883-3,097.

Modi has made a strong pitch for altering the approach on climate talks, from restrictive to constructive, and urged nations not to focus on «don't do this or that». In an interview to PTI ahead of the G20 Leaders' Summit this weekend, the prime minister said there was no «one-size-fits-all» solution to fight climate change. The prime minister said India has left no stone unturned in meeting its climate goals despite accounting for less than five per cent of the cumulative emissions. «So, we are certainly on track while also tailoring in various factors needed to ensure growth,» he said. «We are perhaps the first among the G20 countries to have achieved our climate targets nine years ahead of the scheduled date,» the prime minister said. He said India's action against single-use plastic has been recognised across the world and has also made great strides in safe sanitation and cleanliness.

Eight Naxalites, including three women, have surrendered while four other ultras have been arrested by security forces in Chhattisgarh's Dantewada district, police said on Sunday.

GST advance ruling authority has ruled. The Karnataka-bench of the AAR (Authority for Advance Ruling) ruled that ITC can be availed on taxes paid for procurement of white goods or gold coins for the purpose of incentive to dealer as it is a supply. Orient Cement Ltd had approached the AAR seeking ruling in whether ITC can be claimed on distribution of gold coins and white goods to its dealers upon achieving a specified target fixed under the scheme.

G-20 Summit at the Pragati Maidan on September 9 and 10. Numerous security measures such as anti-drone systems and bulletproof limousines have been put in place to ensure the safety for the high-profile event. 1) More than 1,30,000 security personnel have been deployed in Delhi as the national capital gears up to host the G20 summit on September 9 and 10, Reuters reported.

rice market. The world’s top shipper has placed restrictions on all of its exports, panicking governments from Asia to West Africa. Other big growers have tried to reassure consumers that rice supply is ample, but it’s done little to calm the market. Rice prices in Asia jumped back near the highest level in almost 15 years on Wednesday after India slapped more curbs on parboiled and basmati over the previous weekend.

Russia, Iran can't attend Nobel Prize event this year; invitation revoked after flak Meanwhile, a defrocked Russian priest who spoke out against Moscow's offensive in Ukraine was jailed for three years on Thursday, following a court found him guilty of spreading 'fake news' about the army. Ioann Kurmoyarov -- ran a YouTube channel called the 'Orthodox Virtual Parish' -- was charged after allegedly posting 'several videos with false information about the use of the Russian army'.

Ind vs Pak, Asia Cup 2023: India and Pakistan are going through a very interesting match but the rain is interrupting the match repeatedly. Ishan Kishan and Hardik Pandya powered India's innings to 266, but the rains were back after the first innings. As per the latest reports, the umpires will inspect the pitch at 9:00 PM and now the DLS method is likely to come into application and overs may get reduced.

RBI’s) inflation target range for the first time since February. The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) had in August voted to leave the repo rate unchanged at 6.5%. Repo rate is the interest rate at which the RBI lends to commercial banks.

Mint takes a close look Incomes of corporations and individuals show divergent trends. Data from the Controller General of Accounts (CGA) show that Centre’s revenue from corporate tax collection remains a tad weak so far this fiscal compared to what was collected in the same time a year ago. At the end of July, corporate tax collection of ₹1.76 trillion lagged behind what was collected in the same time a year ago by over 10%.