Track Financial News

Also Read: ‘Invite to African Union made G20 more inclusive’ The G20, consisting of 19 individual nations (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and the United States) along with the European Union, collectively forms a prominent international assembly. As per the central government website on the G20 Summit, the G20 was upgraded to the level of heads of state, and government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation". The G20 Presidency oversees the G20 agenda over a span of one year and takes on the role of hosting the Summit.

Best-performing Flexi Cap Mutual Funds in 5 years (till August 25, 2023): While many Flexi Cap funds have given very high returns in the last one and three years, not many have performed well in five years. Data on the website of the Association of Mutual Funds in India (AMFI) shows direct plans of only five flexi cap funds have given over 15% annualised returns in 5 years. The regular plans of these schemes have given over 14% annualised returns in this duration.

Best-performing Small Cap Mutual Funds in 5 years (till August 25, 2023): Direct plans of several small cap funds have given over 20% annualised returns in 5 years. All of these funds have also managed to beat their respective benchmark indices in this duration.

European shares opened higher on Wednesday, as positive results from insurer Prudential lifted the sector, while investors awaited more key data to gauge the economic health of the region. By 0703 GMT, the pan-European STOXX 600 edged 0.1% higher after rising nearly 1% each in the previous two sessions. European insurers added 0.7%, with Prudential climbing 2.7% after the Asia-focused insurer posted a higher first-half operating profit. Shares of Direct Line Insurance Group rose 1% after the British motor and home insurer named Adam Winslow, a senior executive at Aviva, as its new CEO. Heavyweight energy stocks gained 0.4%, tracking higher crude prices, while basic resources added nearly 1% in early trade. Germany's DAX added 0.2% ahead of August inflation data due later in the day. Also on the radar would be Spain's inflation data and a euro zone consumer confidence print. Among other individual stocks, Orsted slumped 11.8% after the world's No.

The cryptocurrency fund manager Grayscale has won a major court battle against the Securities and Exchange Commission, paving the way for the first bitcoin exchange-traded fund

booking flight tickets. “For searches with reliable trend data, you’ll now see when prices have typically been lowest to book your chosen dates and destination," Google said in the blog post. The new insights could tell you that the cheapest time to book similar trips is usually two months before departure, and currently, you are in that sweet spot.

flights more convinient, Google Flights has unveiled a new feature known as "Insights," designed to assist travelers in making informed decisions about when to book their flight tickets for the best prices. Building upon its existing offerings such as price tracking and comparison tools, this feature utilizes historical flight data to recommend the optimal time to secure flight bookings at the most affordable rates.Google Insights Functionality: The newly launched Insights feature serves as a guide for users, leveraging historical flight data to identify patterns in ticket pricing.

mutual funds.What documents do I need to start a mutual fund investment?To make your first investment in a mutual fund, you need to be KYC (Know Your Customer) compliant. To do this physically, an investor can fill out a form, attach a photograph, copies of the PAN card and a valid address proof such as Aadhaar, passport, voter identity card or driving licence. This can be submitted along with the first investment form to a registrar or a mutual fund office. To do it digitally one can use some mutual fund websites or distributor platforms which allow Aadhaa-rbased eKYC.What should be the first MF scheme that I should consider?First-time investors should choose a fund scheme keeping their goals, risk-taking ability and time horizon in mind. Typically financial planners feel if they have a time horizon of more than five years, they could opt for equity-oriented funds. However, if they have a time frame of 1-5 years they could use debt or hybrid funds, while for a time frame of less than a year, they can use arbitrage funds or ultrashort-term funds. Ideally, they could opt for a diversified equity mutual fund scheme which could be either a large-cap-oriented or flexicap fund. Conservative investors could also use an aggressive hybrid fund that allocates 65-75% to equity and the rest to fixed income. They could consider staggering their investment by using a systematic investment plan (SIP) as a tool to invest, as this evens out volatility and sharp market movements.

Amidst this backdrop of a burgeoning startup ecosystem, the Bengaluru edition of the ET Soonicorns Summit 2023, held on August 26, 2023, served as a confluence of visionary leaders, entrepreneurs, investors, and stakeholders, all driven by the common goal of shaping India's technological trajectory.

Niranjan Gupta, CEO, Hero MotoCorp, says “the first target is to cross 100 cities by December, which is what we have said and we are well on track on that. Thereafter, we are going to put products in the mid and the affordable segments. That will be the plan for FY25. FY24 is about 100 cities and FY25 is about putting products in the mid and affordable segments because right now our product is at the top end of the EV market.”As part of its plan to rapidly grow the premium two-wheeler segment, Hero Motocorp has reintroduced the two-decade-old brand Karizma and launched Karizma XMR. Will you also be launching and relaunching in other segments?We already have strong products in the entry and deluxe segments. There is HF Deluxe, Splendor Plus, Super Splendor, Glamour, Passion. We brought in, of course, the Glamour and its own classic avatar and Passion again, which we relaunched. So, that part on a portfolio basis is very strong. Our job is to build a portfolio in the premium segment while in the entry and deluxe segments, it will be more about the refreshes which will keep coming.

G20 Summit, Union Finance Minister Nirmala Sitharaman said that India given the consideration of things and developments across the world, addressing the question of debt distress is a must. Speaking in an exclusive interview with The Economic Times, Nirmala Sitharaman talked about the expected deliverables in the finance track. Sitharaman said, “Given the consideration of things and the developments across the world, we thought we should address this question of debt distress.

OpenAI is on track to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and computing capacity that powers it, the Information reported on Tuesday. Earlier, the ChatGPT maker projected $200 million in revenue for this year.

The figures by fund manager Janus Henderson estimated that 88% of companies globally had either increased their dividends or held them steady in Q2, resulting in $568.1 billion worth of worldwide payouts since the start of the year. The fastest growth came in Europe, where a number of countries such Italy and Spain have introduced or are looking at windfall taxes on bumper profits made by banks and energy firms on the back of rising interest rates and energy prices. Dividends were up nearly 10% to $184.5 billion. That did not including Britain, where the quarterly total dropped to $30.7 billion from last year's $34.9 billion, when oil and gas firms saw a leap in payments after Russia's invasion of Ukraine sent commodity prices surging. This time around, the surge in global interest rates meant banks contributed half the world's dividend growth and drove a quarter of Europe's increase.

A plane carrying Israelis home from the Indian Ocean island nation of Seychelles has made an emergency stop in Saudi Arabia before flying back to Tel Aviv

Investing.com — U.S. crude oil stocks likely fell by more than 11 million barrels last week while inventories of gasoline and distillates rose, petroleum industry group API said in a preliminary report Tuesday, as refiners maxed output ahead of the Labor Day holiday that typically marks the peak of summer driving.

The cryptocurrency fund manager Grayscale has won a major court battle against the Securities and Exchange Commission, paving the way for the first bitcoin exchange-traded fund

NEW DELHI : Mastercard Inc.’s dominance in the payment process makes the company, along with Visa Inc., no less than what Google Llc is to search. But a more important fact—and less discussed detail —is the company’s impressive profitability: Mastercard ended with a 58.3% operating margin on $6.3 billion in revenue in the second quarter. In an interview, Michael Miebach, the chief executive who succeeded Ajay Banga in 2021, discussed Mastercard’s Indian strategy.

Blockchain security firm OpenZeppelin has announced the launch of its Defender 2.0, a security upgrade for numerous blockchain applications.

Bitcoin's gains from a U.S. court ruling that bolsters future prospects for retail investor-friendly funds have rescued the original cryptocurrency from a dismal month, offering new optimism over its longer-term outlook. The Securities and Exchange Commission's denial of Grayscale Investments' proposal was «arbitrary and capricious», a federal court said on Tuesday, handing the crypto asset manager a landmark victory that could pave the way for the first product of its kind.

Seychelles made an emergency landing in Saudi Arabia before flying back to Tel Aviv on Tuesday, in what Israel praised as a sign of goodwill as Washington works to establish formal relations between the two countries. The Air Seychelles flight carrying 128 passengers was forced to land Monday because of an electrical malfunction. Israel's Foreign Ministry said the passengers spent the night at an airport hotel in Jeddah and were flown back by the airline on an alternate plane. Passengers described a frightening stretch of time as an acrid burnt smell filled the cabin and the pilot came over the intercom to say the plane would be forced to make an emergency stop in Saudi Arabia, a kingdom with which Israel has no air links or diplomatic ties. With dozens trapped on board and the plane idling on the tarmac, tension grew, passengers said, while Israeli officials scrambled to figure out what to do.

₹1.60 in Q1FY24. Further, the trajectory of other expenses is a factor to track as Cask excluding fuel and forex was higher by nearly 10% year-on-year in Q1. “This cost inflation could remain sticky amid expansion spree by competition," according to Kumar.