Track Financial News

By Chris Prentice and Brenna Hughes Neghaiwi

South Indian Bank for a period of three years with effect from October 1, 2023. According to statement by the South Indian Bank, PR Seshadri is an accomplished banker with experiences spanning multiple businesses, functional lines and geographies.

It’s been clear for some time that US recession risk has been sliding in recent months, but this week’s updates of a widely followed GDP nowcast published by the Atlanta Fed has been revised up – a lot – for the third quarter.

Gotthard Base Tunnel, renowned as the world's longest rail tunnel, has been abruptly shut down for passenger services due to a derailment that occurred earlier this month. Swiss authorities are grappling with extensive damage that is projected to necessitate months of intricate repairs.

Railways according to specifications approved by its design and standards unit RDSO, has been red flagged by officials as «faulty» after testing, saying the malfunctioning units could lead to a Balasore-like incident unless withdrawn. Officials said that around 4,000 units of the «faulty» MSDAC system have been procured by the Railways at a cost of Rs 5 lakh per unit and are being tested as part of a trial.

RBI) on Thursday launched a Centralised Web Portal UDGAM (Unclaimed Deposits – Gateway to Access inforMation). This portal has been developed by RBI for use by members of public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place. The Reserve Bank of India had announced the development of a centralised web portal for searching unclaimed deposits as part of the Statement on Developmental and Regulatory Policies dated April 06, 2023.

The benchmark 7.26% 2033 bond yield ended at 7.2487%, its highest since April 5, compared to its previous close of 7.2034%. «The benchmark bond yield mainly rose because U.S. yields have been rising with Fed minutes not providing much comfort,» said Debendra Kumar Dash, senior vice-president, treasury, AU Small Finance Bank.

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QR codes are also proliferating, including on individual portions of pre-sliced Prosciutto di San Daniele, a raw ham similar to Prosciutto di Parma. A smartphone can be used to show information such as how long the prosciutto has been aged and when it was sliced.

This article is part of our Summer reads series. Visit the full collection for book lists, guest essays and more seasonal distractions. Disorders of the brain are a growing worry.

Investing.com — The U.S. dollar edged lower in early European trade Thursday but remains trading near two-month highs after the minutes from the last Federal Reserve meeting offered a hawkish slant.

Best-performing Mid Cap Funds in 3 years (till August 2023): Direct plans of as many as 12 top-performing mid-cap mutual funds have given over 30% annualised returns in 3 years. However, only six of these 12 mid-cap schemes have outperformed their respective benchmark indices in this duration, data on the website of the Association of Mutual Funds in India (AMFI) shows.

real estate consultant released its 'Affordability Index' for the top eight cities for the first six months of the 2023 calendar year. The index tracks the EMI (Equated Monthly Instalment)-to-income ratio for an average household. It indicates the proportion of income that a household requires, to fund the EMI of a housing unit in a particular city.

India's homegrown Paytm Payments Bank's second product in the mass transit category after FASTags, Paytm Wallet & Transit Card, has seen massive deployment across the country. This card, approved by Rupay National Payments Corporation of India (NPCI), has been developed in line with the Government of India’s National Common Mobility Card (NCMC) project. It enables travellers and commuters in most cities to seamlessly pay for multiple purposes.

On August 4, 2023, Lookonchain, a Twitter account specializing in tracking on-chain cryptocurrency data, announced a substantial transfer involving The Sandbox's ($SAND) tokens. The tweet stated, «We noticed that 127M $SAND ($51.32M) was transferred from #TheSandbox wallets 6 hrs ago.»

Also Read: Warren Buffett’s legacy will extend well beyond wealth According to the Newsweek report, Buffett's company spent only $1.4 billion in buybacks—a modest sum for the stock market and much less than the $4 billion it spent in the first quarter. The Nebraska-based legendary investor Warren Buffett, also nicknamed ‘Oracle of Omaha’, is widely followed by investors across the globe and his decisions are closely analyzed.

Rajinikanth is widely known to have a cult following in Japan. A few days ago, a video of a Japanese man dancing to the ‘Jailer’ song ‘Kaavaalaa’ went viral. Now a video of Ambassador of Japan to India, Hiroshi Suzuki, shaking his legs on the track has gone viral, underscoring Rajinikanth's popularity.

Hemang Jani, market expert, says “from a short-term perspective, the power and ancillary sector could give 5%, 10% up move but one should not really consider proper long-term investment in these stocks because when they go out of flavour, then one might see a little bit of subdued movement for an extended period of time.”Do the power or ancillary stocks interest you right now?From a short-term technical perspective, because of the MSCI rebalance where you will see incremental flows coming into the name like PFC, REC and also the fact that GQG came in and picked up some stake in Adani Power could create some more momentum for the Adani Group company and generally for the midcap utility companies. So, from a short-term perspective, that sector could give some momentum – maybe 5%, 10% up move — but I do not think that one should really consider proper long-term investment in these stocks because when it goes out of flavour, then one might see a little bit of subdued movement for an extended period of time.Do you track this Alkem?It is a very steady kind of a company and the numbers were pretty much in line.

President Joe Biden has devoted the past several weeks to talking up the positive impacts of his policies — but his efforts have yet to meaningfully register with the public

MUMBAI — Buying unpopular stocks and selling the popular ones is one of the key strategies adopted by Counter Cyclical PMS, which has helped its smallcap fund give multibagger returns over a 3-year period. “We try to stay ahead of the curve, by spotting promising companies early, before they come into the limelight,” says Keshav Garg, director, Counter Cyclical PMS.

Walmart Inc on Wednesday promoted Kathryn McLay, CEO of its Sam's Club unit, to head its $100 billion international business at a time when high inflation is squeezing spending in many global markets and China's economy is slowing. McLay, a 49-year-old Australian considered a star within the U.S. company's ranks, will take over the division on Sept.