UPS Financial News

Petroleum and Natural Gas Hardeep Singh Puri, addressed the media in Delhi on Saturday, shedding light on matters pertaining to the Ministry of Petroleum and Natural Gas. During the press conference, Minister Puri highlighted the recent decision by Prime Minister Narendra Modi to reduce the prices of LPG cylinders by Rs 100, announced on International Women's Day. Minister Puri said, «On International Women's Day PM Narendra Modi conveyed this significant decision of reducing LPG cylinders price by Rs 100. During the cabinet meeting on Thursday, PM Modi had announced that the LPG cylinder subsidy, which was to end on March 31, will be extended to 2024-25.»

India's policy was 'Nation First' and the consumer was 'paramount', Union Minister Hardeep Singh Puri said that the Centre was able to keep oil prices from shooting up despite global turbulence amid the Russia-Ukraine conflict and drone attacks on merchant ships in the Red Sea. The Union Minister for Petroleum and Natural Gas said 85 per cent of India's crude requirements are met by imports, with the price of crude in the international market being the benchmark. Addressing a press conference in the national capital on Saturday, Puri said, «If you accept that (global issues), you have to deal with the price of crude in the international market and the price at which it is made available. What happened in the last few years?»

BCCI) secretary Jay Shah on Saturday announced the 'Test Cricket Incentive Scheme' for the senior men's team, which will give players extra incentive other than the usual match fees for taking part in the longest format of the game. «I am pleased to announce the initiation of the 'Test Cricket Incentive Scheme' for Senior Men, a step aimed at providing financial growth and stability to our esteemed athletes,» said Jay Shah, BCCI Secretary in a post on social media platform x.

Office space demand in India's six major cities will remain healthy this year as domestic and foreign firms are expected to lease 50-55 million square feet area to expand their businesses, according to a FICCI-Colliers report. Gross leasing of office space stood at 58.2 million square feet across six major cities namely Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune. Industry body FICCI and real estate consultant Colliers India earlier this week released its report 'India Office: Repurposed to scale-up'. The report has given three scenarios for office demand forecast — optimistic, realistic, and pessimistic.

gold extended its stunning rally to the eighth day on Friday as the US nonfarm payroll report of February was weaker than expected. The metal rose to a fresh record high as it hit $2195 before closing with a gain of 0.89% at $2179. It posted a whooping weekly gain of 4.60%. The US employers added 275K jobs in February, which was above the forecast of 200K jobs; however, the unemployment rate rose to a two-year high of 3.90% from 3.70% in January and was way above the forecast of 3.70%. Moreover, the previous two-month figures were revised lower by 167K jobs and government hirings accounted for 52K jobs, which took the sheen off the headline number. Average hourly earnings m-o-m came in at 0.10% versus the forecast of 0.20%, while y-o-y earnings at 4.30% met the forecast though it was lower than the prior data of 4.40%. Labour force participation at 62.50% was lower than the estimate of 62.60%.

Chidambaram said on Saturday that he welcomed the Centre's announcement to reduce the LPG cylinder price by Rs 100 but said Prime Minister Narendra Modi should assure that the price will not be increased if his party comes to power again. Also, he sought to know if there was any budgetary provision for over Rs 5.90 lakh crore projects including Rs 17,300 crore projects for Tamil Nadu announced by the prime minister in a fortnight's time from February 22. Speaking to reporters at Satyamurthy Bhavan, the Congress state headquarters here, Chidambaram said his party leader Rahul Gandhi has given five guarantees to the nation ahead of the Lok Sabha polls, and that these will translate into poll assurances in the party's election manifesto. The guarantees include: An assurance on recruitment to eliminate the unemployment problem in the country by filling up nearly 30 lakh vacancies in the Central government, Right to Apprenticeship Law for the benefit of diploma holders and graduates, a new legislation to stop question paper leak for government jobs, social security for «Gig economy» workers involved in informal jobs, and capital support for the youth to start ventures on their own.

I don’t remember seeing a thing quite like that," remarks Greg Joswiak on digital artist Dhruv Jani’s labyrinthian game. Jani and other digital artists who brought their creations to life with iPads and MacBooks at the recently concluded India Art Fair 2024, are meeting Joswiak, senior vice-president of worldwide marketing at Apple, at the tech company’s Mumbai office. “One of the things we see constantly indicative of this generation is (that) they are always trying to make the world better," says Joswiak, who was in India last month.

Buy or sell stocks: Despite strong global market sentiment on a possible US Fed rate cut buzz, the Indian sock market reamianed range-bound on Thursday last week. The Nifty 50 index added 19 points and closed at 22,493 level, the BSE Sensex went up 33 points and ended at 74,119 mark whereas the Bank Nifty index finished 129 points lower at 47,865 level. However, the broad market witnessed buying interest as the small-cap index went up 0.70 percent while the mid-cap index shot up 0.39 percent.

Indian Banks' Association (IBA) and bank employee unions have reached a consensus on an annual wage hike of 17 per cent, a move that is expected to have a substantial impact on public sector banks. This decision will lead to an additional yearly expenditure of approximately Rs 8,284 crore for these banks, benefiting around 8 lakh bank employees. The wage hike is set to take effect from November 2022. The All India Bank Officers' Confederation announced that as part of the agreement, all Saturdays will be recognized as holidays, subject to government notification. The revised working hours will come into effect upon government notification.

The All India Bank Officers' Confederation stated in a press statement that discussions between the Indian Banks Association and the All India Bank Officers' Confederation had been successfully concluded, culminating in the signing of the 9th Joint Note on March 8, 2024. According to the press release, “The Joint Note recognizes all Saturdays as holidays, pending government notification. The revised working hours will be effective after notification by the government.”

Joe Biden announced in his State of the Union address the plans for providing aid to Gaza by sea, the Army's 7th Transportation Brigade and other units were scrambling to pull equipment together. They received their orders before the speech: Build a floating dock off the Gaza coast to provide food and other desperately needed assistance to residents of Gaza. The aid is needed because Israel has sharply restricted land routes into Gaza, slowing the flow of aid to a trickle. It's a complex operation, involving as many as 1,000 US troops, and it won't happen overnight. Air Force Maj. Gen. Pat Ryder, the Pentagon press secretary, told reporters it will take weeks for this to come together. Some officials say it will take about two months. And beyond the logistical challenges, the operation will depend on Israel's cooperation, which isn't assured. A look at what's known about the operation:

We’re all being deluged with news about how the latest generation of AI is transforming people’s lives, helping businesses be more productive, and even leading to layoffs. But that flood of information doesn’t help anyone answer the most basic question about these AIs: Which is best? So I canvassed executives, engineers and researchers who are knee-deep in the process of applying the world’s most powerful AIs to real world problems, to find out what they have learned. Their answers surprised me.

equity market. Reading the tea leaves always gives some indications of how markets move during this tumultuous period. There are definite data points and trends that investors can look at to chart out their equity map during India’s moves in the elections.

WHO WOULDN’T want a sporting debut like Sajeevan Sajana’s? Playing for Mumbai Indians against Delhi Capitals in the first match of this year’s Women’s Premier League (WPL), a Twenty20 (T20) cricket tournament in India, she strode out to bat with her team needing five runs to win—and with just one delivery remaining in the game. With a smooth swing of the bat, she clouted her first ball in the WPL over the boundary rope for six. Mumbai, the defending champions, were up and running in the most dramatic fashion.

ALSO READ: Premium push: Radico Khaitan sees sixfold rise in shareholder value in 5 years He reminisces about wearing out the tyres of his cars while driving across the UK with cases of Amrut’s single malt whisky; of revenues in 2007 amounting to just 20,000 pounds and of being given two years and a carte blanche to turn the division around. And finally, of the first signs of the tide turning in the company’s favour in 2010, with the championing of the Amrut Fusion by international whisky collectives such as the Malt Maniacs and its anointment as the world’s third best whisky by the influential whisky critic Jim Murray.

Dwarikesh Sugar buyback 2024: The board of directors of Dwarikesh Sugar Industries Ltd has declared a buyback of shares not aggregating beyond ₹31.50 crore. Dwarikesh Sugar buyback price has been fixed at ₹105 per equity share. The company board in its meeting held on 8th March 2024 took this decision and declared 20th March 2024 as the record date for the buyback of shares.

Congress and the opposition BJP are yet to come out with their full list of candidates for the upcoming Lok Sabha polls in Karnataka, there is a fair idea about the campaign issues in their armoury. The recent bomb blast at a popular eatery here and the raising of «pro-Pakistan» slogans in the corridors of 'Vidhana Soudha' have given fresh ammunition to the BJP to attack the Congress government. «The twin issues have given us a momentum of sorts in campaigning,» a senior BJP leader said. The Congress would seek to ride on the popularity of its «guarantee schemes» and make BJP-led NDA government's «step-motherly» attitude towards the state a major poll plank, party sources said.

Narendra Modi on Saturday inaugurated the strategically significant Sela Tunnel in Arunachal Pradesh providing an all-weather connectivity to Tawang bordering China. The inauguration comes a day after China's stern reply to India amid the diplomatic standoff between the two nations. According to a Bloomberg report, India has freed up thousands of soldiers to strengthen its disputed border with China, adding a potential irritant to its already sour relations with Beijing. As a response, China has said that deploying more troops at the border would not ease tensions. It said that it is committed to upholding peace and tranquility in the border areas.

Popular Vehicles and Krystal Integrated are the two mainboard IPOs that will open for subscription next week, while the four SME IPOs are Pratham EPC, Signoria Creation,

Ford exited India in 2021 but it has not completely left the country. Infact, Ford India is now in an expansion mode but in a slightly different context. As per a report in the Times of India, Ford is expanding its Chennai tech hub and is planning to hire an additional 3,000 employees in the next two to three years to develop electric vehicle (EV) applications for its global EV platforms. The Chennai hub currently has 12,000 employees.