UPS Financial News

Subscribe to enjoy similar stories. In today’s world, education is no longer just about survival. Parents are going the extra mile, making thoughtful decisions about how and where their children study, from preschool to college.

Subscribe to enjoy similar stories. When Arpit Mittal pivoted his third startup to focus on getting Indian kids unfamiliar with English to learn and speak the language, he was in for a few surprises. His Gurugram-based edtech startup SpeakX began seeing a surge in users from India’s tier 2 and tier 3 cities.

Subscribe to enjoy similar stories. India’s cement sector is laying a solid foundation for growth, with stocks surging after a research report pointed to a sustained earnings upcycle. UltraTech Cement, the country’s largest producer, has been at the forefront of this rally, continuing its trend of outperformance.

Malayalam film has finally arrived at the theatres. Mohanlal and Prithviraj-starrer ‘L2: Empuraan’ is all set to make box-office history. As per Sacnilk reports, the pre-sales figures for the action thriller have already crossed Rs 50 crore globally. The early reviews for the Malayalam magnum opus are already out on Twitter.

The ruling by the U.S. Court of Appeals for the First Circuit leaves in place a lower court order blocking Trump's freeze on $3 trillion in federal grants, loans and other financial aid while the government appeals. The ruling by the court in Boston is the first time an appeals court has weighed in on the legal merits of the spending freeze, one of several marquee Trump policies held up by litigation. U.S. District Judge John McConnell issued an injunction blocking the freeze on March 6, saying the Trump administration had overstepped its authority. In its 48-page decision Wednesday, a panel of three appeals court judges unanimously rejected the administration's argument that McConnell's ruling was too broad.

Ramadan, marked by fasting, prayers and acts of charity is a period of seeking forgiveness and taking time to reflect. The day begins with getting up before sunrise, morning prayers, and eating a pre-dawn meal called sehri while in the evening, the fast is concluded with an evening meal called Iftar which often comprises dates, fruits and other food items. Eid al-Fitr this year will be celebrated on either Sunday, March 30, or Monday, March 31, depending on the sighting of the moon in different parts of the world. On this special day, Muslims gather for prayers, visit family and friends, exchange gifts, give to those in need, and enjoy festive meals together. As the Islamic calendar follows the lunar cycle, significant dates shift forward by approximately 11 days each year. The sighting of the crescent moon marks the end of Ramadan and the beginning of Eid celebrations.

OpenAI is close to finalizing a $40 billion funding round led by SoftBank Group — with investors including Magnetar Capital, Coatue Management, Founders Fund and Altimeter Capital Management in talks to participate, according to people familiar with the matter. Magnetar Capital — an Evanston, Illinois-based hedge fund — could contribute up to $1 billion, according to multiple people, all of whom asked not to be identified because the information is private. Representatives for OpenAI, Magnetar and Founders Fund declined to comment on the funding round. Coatue and Altimeter did not immediately respond to requests for comment.

Bharat Forge are expected to be in focus on Thursday following its contract with the Ministry of Defence for the procurement of 155mm/52 Calibre Advanced Towed Artillery Gun Systems (ATAGS) and High Mobility Vehicle 6x6 Gun Towing Vehicles respectively. The total contract is worth Rs 6,900 crore and Tata Advanced System is another company which is part of the agreement. The government has so far signed contracts worth Rs 1.40 lakh crore in the current financial year 2024-25, a defence ministry release said.

Subscribe to enjoy similar stories. Donald Trump and Elon Musk speak to the press as they sit in a Tesla at the White House in Washington, March 11. For the past two months, Americans have watched as two extraordinary and polarizing figures—Donald Trump and Elon Musk—have worked as a team to reduce the size and reach of the federal bureaucracy.

Subscribe to enjoy similar stories. Donald Trump has sought to dismiss Signalgate as “the only glitch" in his two months as US president for the second time. But this will not wash with others around the world.

Subscribe to enjoy similar stories. Come the end of May or June, India’s provident fund (PF) subscribers will be able to withdraw money from their retirement kitties through UPI or ATMs, according to labour and employment secretary Sumita Dawra.

Subscribe to enjoy similar stories. New Delhi: Gross refining margins (GRM) of oil marketing companies (OMC) in India are likely to continue to narrow in the ongoing fourth quarter of fiscal year 2025 (FY25) with declining discounts on Russian oil and shrinking crack spreads. The benchmark Singapore GRMs in the January-March quarter as of February-end stood at $2.7 per barrel, compared with $4 per barrel in the fourth of the previous fiscal, showed data from Icra Ltd.

Ben Affleck and Jennifer Lopez’s personal lives don’t seem to stop making headlines even after their high-profile divorce. Ben Affleck denied allegations that Jennifer Lopez's documentary was the reason for their breakup. Although numerous fans noted his clear unease during the documentary, Affleck confirms that it was not the reason they broke up.

Bank of Baroda (BoB), India's second largest public sector lender by assets, is stepping up on retail loan growth with renewed focus on home loans, tie-ups with auto companies, and a fresh strategy to target corporate account employees with personal loans as it expects a 20% compound annual growth rate to continue at least for the next 3 years, executive director Sanjay Mudaliar said. The brisk pace in retail loans will mean the proportion of retail in its total loan book could increase to about 32% in the next three years from 27%. Home loans as a percentage of BoB's loan book are relatively lower at 51% compared to 55% for larger peer SBI. Mudaliar said early success in personal and auto loans meant the bank never stepped on the pedal on home loans but that is now changing. «We had an experience in home loans, but it was not scaled up to the extent we were looking for. Now with the personal loans coming under pressure, the bank is going slow on digital lending, and with the ups and downs in auto loans, the shift is happening towards home loans,» he said.

Finance minister Nirmala Sitharaman Wednesday said «relentless action» is going on against wilful bank defaulters and that loan write-offs do not mean waivers as borrowers remain liable to repay their dues. «Banks continue to pursue recovery actions in written-off accounts using various mechanisms,» she said, responding to the discussion on Banking Laws (Amendment) Bill 2024 in the Rajya Sabha. The upper house, subsequently, gave its nod to the bill that seeks to provide options to the depositors for either successive or simultaneous nominations besides allowing public sector banks (PSBs) to transfer unclaimed shares, interest, and bond redemption amounts to investor protection fund besides other changes. The bill has already secured Lok Sabha's nod.

After having commenced their probe on Tuesday, the three judges will remain in New Delhi for the next few days to continue the probe and examine the allegations levelled against justice Varma. The three-judge committee will also examine justice Varma after perusing the evidence and information made available to it. «The objective is to ensure that the inquiry is completed without any undue delay. The inquiry has been fast tracked to dispel the misbelief, if any, that truth will be brushed under the carpet,» said an individual privy to the development. As per the laid-down procedure, the probe being carried out by the committee is «not a formal judicial inquiry involving the examination and cross-examination of witnesses and representation by lawyers». After completing its «fact-finding inquiry», the committee will submit its report to CJI Khanna. It remains to be seen whether SC will again make public the panel's «fact-finding inquiry» report. Previously, in an unprecedented move, the Supreme Court had decided to make public the «in-house inquiry» report prepared by Delhi High Court chief justice Devendra Upadhyaya on SC's website.

indigenous fighter jet, the light combat aircraft Mk1a, has been delivered, marking the start of supplies that had been delayed due to supply chain constraints. GE Aerospace has handed over the first of 99 F404-IN20 engines on order to Hindustan Aeronautics Limited and a total of 12 engines are expected to be sent this year. The supply of LCA Mk1a to the Air Force has been delayed by over a year as the engines could not come on time due to disruptions in global supply chains faced by the American vendor. The Air Force has placed an order for 83 jets on HAL, which now plans to gradually ramp up production, taking it to 24 aircraft a year. GE acknowledged the delays in supplies, saying that it shut down the production line for engines in 2016 when earlier orders had been fulfilled and restarting it was a complex task. The company added that the delivery of the first engine is an important milestone and it will continue to work with suppliers to keep the production line efficient. «Restarting the F404-IN20 engine line during Covid pandemic was even more challenging. With a high focus on safety and quality, and a remarkable commitment from our supply chain teams and our suppliers and partners, we have managed to restart the line,» Shawn Warren, general manager, Combat & Trainer Engines, GE Aerospace, said. The executive said that the engine is one the most successful in military aviation history and the variant delivered has been particularly made for the Indian requirement. «The F404-IN20 engine is a tailored design for India's single-engine fighter, with the highest thrust within the F404 family and a higher-flow fan, unique single-crystal turbine blades, and numerous special components,» he said.

They told ET in an interview that macroeconomic uncertainty, potential tariff wars and inflation concerns may slow down global real estate recovery, but India's strong fundamentals continue to attract long-term investors. «We think 2025 will continue to be a little bit more choppy, just because of the potential tariff wars. But as that gets resolved, we expect strong growth heading into 2026,» Robinson said.

If any Mickey Mouse accounting goes on for years in the treasury, it would, however, be with the knowledge of the mid-office that monitors — or, is supposed to monitor — the risks and reports any breach to the treasurer and chief risk officer. In the sequence and hierarchy of these divisions that witness millions of bond, currency and derivative deals, the front office 'creates' the risk to make money, the mid office 'keeps tabs' of positions, and the back office records and reconciles. In some ways, a treasury is a bank within a bank. Among this cast of characters, some (directly reporting to the kingpin) would be typically aware of sharp practice; many lower in the ranks would blindly do what's told to them; and some would look the other way while letting the music go on. The army of auditors scrutinising the books, and probably call records and chats of IndusInd Bank officials, will have to ferret out exact quantum of losses, gaps in processes, and why the funny divergent accounting — booking profits while deferring losses of mirror derivative transactions — went on since 2016. It would hint who knew what, whether conflicted reporting arrangements fuelled the folly, and whether someone from the back office had ever raised a red flag.

BYD has led a brutal price war that has pushed it to become the largest seller in the world's biggest car market. This Monday, it reported $107 bn in revenue for 2024, crossing the $100 bn barrier for the first time. Displacing Volkswagen as China's top carmaker by sales, the company is aggressively expanding into overseas markets.

reservation for Muslims in public contracts valued up to ₹2 cr, and goods and services contracts up to ₹1 cr, a long-pending demand. Karnataka reserves 24% of civil works contracts for SC/STs, 4% for OBCs in Category-1, and 15% for Category-2A. BJP termed the Bill an 'unconstitutional misadventure'. For a country born from the cauldron of religion-based violence, such quotas were contentious even before the 42nd Amendment of 1976 added 'secular' to the Preamble.