UPS Financial News

Gujarat International Finance Tec-City (GIFT City) will soon take another step to resemble state-of-the art global finance centres as the hub is set to launch its own foreign currency settlement system, K Rajaraman, chairperson of the International Financial Services Centres Authority (IFSCA) told Bhaskar Dutta in an interview. He also listed out the latest steps being taken by the IFSC Authority to «onshore what is offshore». Edited excerpts: Markets have been telling us about the development of an international-style instant foreign exchange settlement system in GIFT City. What is happening on the ground?

The classic approach to a presidential election in the US, partly led by its system of primary polls to pick candidates, is to first rouse one’s party base on the left or right and then pivot to the centre, since victory is about swinging votes across from the other side. Mild versions of it are visible in the White House race, though more in Joe Biden’s campaign than in Donald Trump’s.

Stock Market News: The domestic benchmark indices, the Sensex and the Nifty 50, finished the special live trading session on Saturday, May 18, with gains, extending their current three-day rally driven by fresh foreign capital inflows and encouraging cues from across the globe. The small and mid-cap indexes outpaced the benchmark indices, and all sectoral indices finished in the green. The 30-share BSE Sensex closed at 74,005.94 in the second special trading session, up 88.91 points, or 0.12%.

Also Read: Lok Sabha Elections 2024: Polling in Mumbai today! Know what's closed, what's open On Tuesday, May 21 at 9:15 IST, the stock market will resume regular trading, but, following a fifteen-minute pre-opening session that begins at 9:00 IST, according per the BSE and NSE websites. The fifth phase (Phase 5) of the general elections for 2024 is slated to take place on Monday, May 20, and voting will take place in as many as 49 Lok Sabha seats, which are spread across six states and two Union territories (UTs).

₹2.6 trillion in assets. In fact, he believes periodic corrections are healthy as they eliminate excesses, and create fresh investment opportunities. Moreover, Gupta noted that investors seem to favor equities, aiming to allocate a greater portion of their portfolios to stocks.

A few months ago, Prabhuti Desai, an performing artist based in Bardoli, Gujarat, was driven to her wits’ end by Lock Me Out, an app that promised to help her focus. She was deep in the middle of drafting an idea for a project, when she had to check something on Instagram. She tapped the Instagram icon on her phone, but a pop-up—from Lock Me Out—asked her to pay Rs180.

phase 5 of Lok Sabha Elections today, May 20. The fifth phase includes high-profile seats such as Amethi, Raebareli in Uttar Pradesh and Mumbai North in Maharashtra. Union Minister Smriti Irani is pitted against long-time Congress loyalist KL Sharma in Amethi while Rahul Gandhi is contesting against Bharatiya Janata Party's (BJP) Dinesh Pratap Singh in Raebareli.

₹37,000 crore over the next three years, and targeted capacity expansion to 72,000 units per month by the end of FY26 (up from 49,000 per month in FY24) are the key drivers for the homegrown auto major. M&M's increased focus on EVs is evident from its planned auto capex of ₹27,000 crore, with as much as ₹12,000 crore allocated for EVs. The company plans to launch nine ICE SUVs, seven battery electric vehicles (BEVs), and seven light commercial vehicles (LCVs) by 2030.

Daniel Kahneman and Jim Simon. The past few months have seen the passing away of these three people whose lives and work have been of great interest to investors. Of the three, Munger and Kahneman have often been the subjects of my writings over the years. However, I have hardly ever mentioned Jim Simon, even though his life has been the most interesting in some ways. By all accounts, Simon, who passed away last week at 86, was an extraordinary genius. During the first half of his life, he was an academic mathematician or, to be precise, a geometer. Around the time he was 40, he decided that the equity markets could be understood and predicted using purely statistical techniques. He set up an investment firm and hired people from maths and maths-adjacent fields. They struggled for about a decade, but around 1987, their techniques had been developed to a point where they started succeeding. From 1988 to 2018, the Medallion Fund, which was run by his investment firm, delivered annual gross returns of 66%. After considering the enormous fees, the average annual returns came to 39%. During this period, the only negative year was 1989, when the fund lost just 3%. These numbers seem completely incredible, and they are. Most readers must be thinking that these returns should have compounded to trillions of dollars over the years. They would have, but here’s the most interesting fact about this fund: it was not allowed to accumulate assets.

stock market has dissipated. In the past three weeks, India VIX, a widely tracked fear gauge measuring the expected volatility in the stock market, has shot up from 10.15 on 23 April to 20.6 on 13 May. The heightened volatility stems from concerns over lower voter turnout in the ongoing general elections, potentially indicating an unfavourable verdict for the ruling party. Is this market nervousness a sign of future trends or a temporary blip before equities resume their upward journey? Election season casts clouds Elections introduce uncertainty in the stock market. This time, the market’s confidence, in what seemed like an inevitable outcome, is being tested. According to initial estimates, the first four phases of the marathon seven-phase Lok Sabha elections have recorded a lower voter turn than the corresponding period in the 2019 general elections. Low voter participation is being perceived as harmful to the reelection prospects of the Narendra Modi government. The concern is that voter disengagement could potentially weaken the ruling party’s numbers, undermining policy continuity and political stability, which the market favours. Volatility has shot up

benefits that are related to travel expenses. 2.These come with joining and annual fees. The rewards and benefits of the card should be more than the cost of the card. 3.Travel cards offer bonuses, like free airline tickets or hotel stays, at the time of signing up. Pick the one that is most suitable for you.

Manish is keen to become an entrepreneur. He has worked for 25 years and has held senior management positions in large companies. He holds a large portfolio of assets, including real estate, equity, mutual funds and bonds. He is fairly confident that his business idea will scale up. His two children are currently pursuing their graduation. He is confident of funding their higher education with his savings and educational loans. What precautions should Manish take before quitting his job? Manish’s family will be used to certain expenses given their current lifestyle.

results consistently. But have you taken a reality check? Undertake this short exercise to find out. In 60 seconds, write down the top five goals that you are being paid to deliver. If you took more time, your goals are not at the centre of your daily work life. If you struggled to even think about and write down the goals, you have lost sight of what you are paid to deliver while you got busy with whatever landed on your plate. Take a break this weekend to make a list of goals that you think your employer wants you to meet. Thereafter, follow these steps. Results & activities Under each goal, write down the results you are expected to achieve in the next three or six months. Under your annual sales goal, your quarterly sales results might include addition of new clients and farming of the existing ones. Under results, list the activities that you need to conduct to achieve these. So, for instance, under the sales goals, you might need to hire an extra team member, train or let go of underperformers, set up bi-monthly meetings with existing clients, and generate five new leads a week with a funnel to conversion. Along with your goals, your results and activities add up to your understanding of the employer’s expectations from your job.

The cryptocurrency market is currently experiencing a significant shift when it comes to mainstream adoption. Embarking on the Bitcoin halving, and BTC ETF hype, the space is seeing an increase in its users.

While university graduates around Canada are celebrating their accomplishments, one University of New Brunswick law graduate said he was “humiliated” during his graduation ceremony.

Reserve Bank of India (RBI) suggest that it may transfer a higher dividend — possibly in the region of ₹1 lakh crore — to the government than last year, giving a potential boost to New Delhi's finances. Last week, the RBI announced a steep cut in the government's borrowing through Treasury Bills, reducing the amount of funds that the Centre would have garnered through these short-term instruments by ₹60,000 crore. The central bank also took some measures to ensure greater success of an upcoming operation where the government plans to prematurely pay back ₹60,000 crore of earlier borrowings.

The government of Paraguay will ask lawmakers to approve a bill that proposes jailing illegal Bitcoin (BTC) miners for up to 10 years.

— Nitin Sreedhar It has always been deodorant sprays for me unless I am travelling, when I switch to deo sticks, and so, I never got the idea of a deodorant cream. I wasn’t really sure of how a cream could have you smelling nice for long. Well, it just took a dab of the Bare Bar deodorant I was gifted recently to make me an instant convert.

Manchester City has clinched the Premier League and has become the only club to win four back-to-back titles. Arsenal has once again finished second, Liverpool at third, Chelsea are at sixth and Manchester United are at eighth position. After a hard-fought season, a staggering amount of money was up for grab. Premier League champions Manchester City has pocketed £62.3 million. Runner-up Arsenal got £59.1 million and Liverpool received £56 million. Fourth placed Aston Villa were handed over £52.9 million.

politician has thrown up yet another bogeyman: the 'desi Angrez'. Like the ABCD — American-Born Confused Desi — and other archetypal stereotypes (or are they 'stereotypical archetypes'?), the desi Angrez is a figure of both derision and envy, the former emotion covering the latter.

Telecom companies are bidding less enthusiastically in the upcoming spectrum auctions, or that's at least what earnest money deposits would suggest. This is partly on account of the low conversion to 5G networks by subscribers of Reliance Jio and Bharti Airtel. Vodafone Idea, the troubled third operator that has been slower off the blocks in the 5G race, needs to catch up.