UPS Financial News

The Securities and Exchange Board of India (Sebi) recently introduced amendments to the REIT Regulations of 2014, outlining provisions for the establishment of small and medium real-estate investment trusts, known as SM REITs or micro REITs. The move aims to regulate fractional ownership of both commercial and residential properties as well as protect investor interests. But what are SM REITs and how do they differ from conventional REITs? ET finds out more: What are SM REITs? SM REITs are specialised real estate investment trusts that differ from conventional REITs in their scale and focus. While traditional REITs primarily invest in large-scale commercial properties, such as office buildings and shopping malls, SM REITs concentrate on smaller and medium-sized properties with lower value. This distinction is reflected in their market capitalisation, asset size and portfolio composition. Despite smaller scale, SM REITs maintain diversified portfolios, spreading risk across different property types within the real estate market.

BJP seems to have opted for two different strategies to deal with Jats, one of the politically powerful communities and a tricky vote segment in north India for political parties. While BJP would try to consolidate Jat votes in Uttar Pradesh, it expects to reap the benefit from the community's vote division in Haryana. In recent weeks, Jat politics has seen Jayant Chaudhary-led RLD dumping its alliance with SP and aligning with BJP in Uttar Pradesh. However, BJP did not hesitate to easily break its alliance with JJP, a party like RLD in Haryana. While BJP shared two seats with RLD, including Baghpat which it won last time, it was not willing to accommodate an ally of over last four years, JJP, in the neighbouring state by giving it two Lok Sabha seats which it was seeking. BJP insiders attribute the different approach to the different political dynamics in the states. In Western UP, Muslims are expected to vote against BJP and by poaching RLD from SP-Congress alliance, BJP hopes to insure itself from the threat of losing the belt. However, in Haryana, some internal surveys conducted by BJP show that a section of Jat voters, in the aftermath of farmers' and wrestlers' protests, would move back to Congress, whose tallest leader in the state is BS Hooda, who hails from the community.

Ambani pre-wedding celebrations in Jamnagar have made headlines in more ways than one. The array of premium handcrafted jewellery worn by the guests has stoked enormous interest, especially on social media, prompting top jewellers to focus on such ornaments studded with emeralds, sapphires, rubies and diamonds. “We have just launched a new line with platinum, crafted in a pattern with emeralds and diamonds,” said Rajiv Popley, director of Mumbai-based Popley & Sons that sells high-end jewellery. “Demand has picked up for this kind of jewellery after the pre-wedding bash. Indian customers can relate to what had been worn… It’s all over social media.” Prices typically start from `5 lakh and go up to `1 crore, Popley said. “A pair of earrings from our new line of jewellery studded with emerald and diamonds costs `7 lakh,” he said. Chairman Joy Alukkas said his eponymous chain will be launching a gemstone-studded premium line — spurred by the Ambani celebrations — by the end of next month. “We are working on the designs,” he said. This is a shift for Joyalukkas, which typically has a range dominated by gold and diamonds, although the retail chain does sell affordable, gemstudded ornaments in its north India stores.

Investing.com — The US government solid $22 billion of 30-year notes on Wednesday at a lower-than-expected yield, pointing to strong demand and confidence that the Federal Reserve will follow through on rate cuts this year.

By Caroline Valetkevitch

Gold and silver were looking to bounce back following the CPI-related drop on Tuesday, in a relatively quieter day for data and with the Fed in the blackout period ahead of next week’s FOMC meeting.

By David Lawder

To passersby, the construction site at Yonge and Bloor in downtown Toronto where The One, an 85-storey mixed-use development is slowly taking shape, looks just like any other, albeit on a grander scale. Workers are making progress, pushing up past the 50th storey as the building’s facade begins to take shape.

The Ontario Teachers’ Pension Plan ended 2023 with disappointing results after allocating assets based on expectations of a recession, but chief executive Jo Taylor said he’s not planning a major shift into equities given that markets still look overheated.

The number of Canadians worried about defaulting on a mortgage or major loan payment rose in February, according to a long-running survey that tracks people’s financial outlooks.

₹11.1 trillion, up more than 11% from the ₹10 trillion budgeted for 2023-24 (and up 17% from this year’s revised budget estimate). The finance minister’s speech laid emphasis on the substantial multiplier effect of capex on both economic growth and employment generation. Employment is the link between economic growth and higher standards of living.

News18 shows that Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) is set to bag a total of 77 seats, predicting a landslide victory. The survey also shows that the Opposition INDIA bloc will bag two seats, leaving one for Bahujan Samajwadi Party (BSP) in Uttar Pradesh. The New18 opinion poll has predicted BJP-led NDA will cinch a 57% vote share in the Lok Sabha Elections 2024.

Rashomon, the classic 1954 film by Japanese director Akiro Kurosawa, narrates four different perspectives of a crime. The Rashomon Effect aptly applies to varying accounts of the recently concluded 13th Ministerial Conference (MC-13) of the World Trade Organization (WTO), with much commentary in the Western media holding India as a spoiler even as Indian write-ups provided justification for the country’s positions. All this, while geopolitical shifts have resulted in strategic economic partnerships worldwide overshadowing the WTO.

Ever since photovoltaic cells started popping up on pocket calculators and building roofs a few decades ago, solar power has faced a key drawback: It’s a nice technology, but there’s simply not enough of it to make a difference. Right now, it’s facing the opposite difficulty. A tidal wave of investment in solar-power panels has swelled to the point that it threatens to overwhelm the global industry.

NDTV. According to the report, the UP team is trying to arrest the Delhi cop, who is also an accused in the case. While his associate Mahendra Sharma, a resident of Haryana's Jind, has been arrested. Earlier in February, around 1,000 aspirants were contacted by the Delhi policeman and assembled at a resort in Haryana.

BJP announced names of 195 candidates. It included Prime Minister Narendra Modi, Union Home Minister Amit Shah and Union ministers Rajanath Singh and Smriti Irani.

Coinbase Global (COIN) is set to take advantage of the rally in the cryptocurrency market this year as the crypto exchange announced plans to raise $1 billion through the sale of senior convertible notes.

NEW DELHI : Prime Minister Narendra Modi laid the foundation stone for three semiconductor projects worth about ₹1.25 trillion on Wednesday, saying chip manufacturing will take India towards self-reliance and modernity. “India is set to become a prominent semiconductor manufacturing hub. The three facilities will drive economic growth and foster innovation," he said in a virtual address during the foundation ceremony.

BSE Sensex fell 1.2% to 72,761.89 points, their worst decline since 23 January. The broader market saw worse: The Nifty Small Cap 250 and the Nifty Mid-Cap 150 plunged 5.2% and 4.2% respectively, their steepest one-day plunge in over two years. Comments by the stock market regulator on a potential bubble in the stock market, and a crackdown on several errant companies by the central bank have added to concerns, at a time small and mid-cap stocks have far outpaced the market's gains.

By Mike Dolan

Freed has raised $7.5 million in a fresh funding round, the company said in a release today. The round was led by Sanjay Nayar-backed Sorin Investments and early-stage venture fund Multiply Ventures, with participation from Piper Serica Fund and a few others.