UPS Financial News

₹4.36 trillion between the 13th and 15th FCs. Against the backdrop of Vocal for Local, Lifestyle For Environment (LiFE) and Jan Bhagidari espoused by the prime minister for greater citizen participation in governance, the 16th FC’s potential to transform the governance in general and public finance in particular of India’s cities is immense.

Mizuho Bank, Japan’s third-largest ‘megabank’ with close to $2 trillion in assets, made its biggest bet in India with a Rs 4,100-crore capital infusion in November and followed it up with a Rs 1,200-crore investment in NBFC Credit Saison. Asia Pacific co-CEO Yasuhiro Kubota explains to Joel Rebello why India is important for the Japanese lender and how it plans to expand the business here. Edited excerpts. You infused Rs 4,100 crore ($500 million) capital into India in November – Mizuho’s largest here to date. What does that allow you to do that you couldn't do before? We want to create a lending capacity to be able to support our local book. It's a commitment to the market that we have enough capacity to grow. The $500 million is just the first tranche. We want to do large ticket acquisition financing around our customers, like a loan against shares or what we call promoter financing in India. We had the capabilities in the region but not India. Now, we are developing these capabilities in the country. If somebody wants to acquire a company and they are looking for a billion-dollar cheque, I can say with great confidence that we can do it.

Centre's attempt to introduce the Citizenship Amendment Act (CAA), West Bengal chief minister Mamata Banerjee on Sunday said the BJP always comes up with citizenship rights implementation issues ahead of the elections. The Trinamool chief also raised concern about Aadhaar cards of many people getting rejected in several parts of Bengal. «Around 50 Aadhaar cards have been rejected in Burdwan's Jamalpur. Similar things are happening in Birbhum, North 24 Parganas, Burdwan and several other districts,» Banerjee said while speaking at a programme in Birbhum.

The trend kicked off a few months ago with some of the big tech companies seeking to rationalise their workforce, they said.

Javier Milei. Who's he? He's the self-described 'anarcho-capitalist' president of Argentina.

current account deficit (CAD) estimates for FY24. Capital inflows through both foreign direct investment (FDI) and portfolio flows are expected to improve during the rest of the fiscal. But potentially higher foreign exchange inflows may not mean a stronger rupee as the central bank could take this opportunity to shore up its reserves.

Zee Entertainment Enterprises, both are reviewing OTT (over the top or streaming) budgets. Amazon Prime Video takes long to approve projects, and has cancelled some of the 40 titles it had announced in April 2022, while Netflix is bullish on acquiring only big-budget theatrical films. Disney, on the other hand, has slowed ahead of a possible merger with Reliance Industries Ltd.

New Delhi: The textile industry is moving to shed its polluter tag by adopting a ‘circular economy’ in order to avoid being snared by future climate change tax regimes such as the European Union’s proposed Carbon Border Adjustment Mechanism (CBAM), two persons aware of the plans said. CBAM will tax the ‘embedded carbon’ in imports from select emission-intensive sectors—steel, aluminium, cement, hydrogen, electricity and fertilizers. It is expected to be implemented in 2026.

PARIS (Reuters) — Some 900 tonnes of lithium batteries were on fire at a battery recycling plant in southern France, authorities said on Sunday, sending a cloud of thick black smoke into the sky above the site.

Stocks on Wall Street closed lower on Friday to break their five-week winning streak as investors digested a hotter-than-expected producer price inflation report that added to fears the Federal Reserve is unlikely to cut interest rates anytime soon.

WASHINGTON (Reuters) -U.S. President Joe Biden's administration intends to relax limits on tailpipe emissions that are designed to get Americans to move from gas-powered cars to electric vehicles, the New York Times reported, citing people familiar with the plan.

₹500 crore capital into IFCI in the second half of FY25—even though the Union budget of 2024-25 has not made any allocation—to reduce its debt and strengthen its financials, thereby easing the burden on any other entity or strategic investor involved in its restructuring. IFCI shares closed 4.58% higher at ₹54.57 on the BSE on Friday. Set up in 1948 as a development financial institution, IFCI was later turned into a non-banking finance company (NBFC).

₹57,900 per tonne in September, fell to just over ₹54,000 in February, as per data from SteelMint. “Our retail sector sales dropped because of higher imports from China and FTA countries in the last quarter," Jayant Acharya, joint managing director of JSW Steel said in a recent interview. “Our imports rose by 16% and our exports fell by 16%, and that impacted basic sentiments and retail." The Ebitda margin of JSW Steel contracted nearly 57 basis points sequentially during the December quarter to 17.1% as per Mint’s analysis.

₹1,00,772.17 per kilolitre in Delhi as of 1 February, 74% higher than in 2019. Going forward, too, airfares are expected to go up, said Ajay Prakash, board member, Faith and president, Travel Agents Federation of India, “The upswing in the demand can be seen with supply falling short of it.

ALSO READ: ‘Modi ji, before new guarantees, calculate old guarantees:’ Rahul Gandhi accuses PM Modi of failing to provide 2 cr jobs "Did you see the 'Ram Mandir Pran Pratishtha'? Did you see any OBC or ST/SC faces? It was attended by Amitabh Bachchan, Aishwarya Bachchan, and PM Narendra Modi, but we didn't see the people who truly run the country. These people want to ensure that you guys can never control the country," he said, as quoted by the new agency PTI. Earlier on 22 January, the Ram Temple consecration ceremony was presided over by Prime Minister Narendra Modi and RSS chief Mohan Bhagwat. It was attended by thousands of celebrities, politicians, and other dignitaries, however, the Opposition skipped the event, claiming the BJP was trying to score political brownie points.

Icra and Mint calculations showed. “Casa ratio shot up after demonetization and reached its peak during covid-19, prior to which it used to be in early to mid-thirties levels," said Anil Gupta, senior vice-president and co group head of financial sector ratings, Icra Ltd. Casa levels should remain “comfortably above mid-thirties", Gupta said.

434-run loss against India on Sunday at Rajkot, England Test skipper Ben Stokes asserted that the team will look to win the rest of the two Tests at Ranchi and Dharamshala respectively to seal the series 3-2. A five-wicket haul by ace all-rounder and first-innings centurion Ravindra Jadeja and top knocks from skipper Rohit Sharma, Shubman Gill, double centurion Yashasvi Jaiswal and debutant Sarfaraz Khan saw England sink to its knees and surrender to the hosts inside four days. «Ben Duckett played an unbelievable innings. That was the tone we wanted to set throughout the innings. It was about identifying that opportunity and getting as close to India's total. We wanted to bowl yesterday but it was earlier than when we wanted. Sometimes game plans don't work and that was the case,» Stokes said in the post-match presentation.

red alert for heavy to very heavy rain and snow, and thunderstorms accompanied by hail, lightning and gusty winds reaching speeds of up to 50 kilometres per hour has been issued in seven of Himachal Pradesh's 12 districts for Monday. The Met office on Sunday sounded a red alert for Chamba, Kangra, Kullu, Mandi, Lahaul and Spiti, Kinnaur and Shimla districts. It has also cautioned that essential services such as electricity and water supply and communication may be affected. A western disturbance has affected the western Himalayan region from Saturday, with snow being recorded in the higher reaches of Kullu-Manali and Lahaul and Spiti, according to reports.

Karnataka Deputy Chief Minister D K Shivakumar on Sunday said that the state government was considering building flyovers along certain stretches of metro lines to decongest Bengaluru city. Speaking at the mass grievance redressal 'Government at Your Doorstep' at Jnanabharathi, he said, «It has been decided to build flyovers on certain stretches of metro lines to decongest the traffic. A proposal has been sent to the Centre regarding this.» «The Chief Minister announced many projects in the Budget to develop Bengaluru. The BBMP Budget will be presented soon and it will complement the projects announced in the State budget. We are preparing a feasibility report for tunnel roads near Yeshwanthpura, Sumanahalli, Goraguntepalya, etc.»

Saturday Night Live approaches its fiftieth anniversary, Academy Award-nominated filmmaker Jason Reitman is set to transport audiences back to the iconic beginning of the sketch comedy series. The much-anticipated SNL 1975 promises to unravel the behind-the-scenes magic of the show's premiere, providing a unique glimpse into the moments leading up to the historic broadcast.

Michael Vaughan took to social media and said that England's performance is a «wake-up call» that they cannot play in one particular way against quality teams. A five-wicket haul by ace all-rounder and first-innings centurion Ravindra Jadeja and top knocks from skipper Rohit Sharma, Shubman Gill, double centurion Yashasvi Jaiswal and debutant Sarfaraz Khan saw England sink to its knees and surrender to the hosts inside four days. The highly attacking, positive and result-oriented 'Bazball' approach did not work for England as they witnessed a heavy collapse in their first innings after a solid start and could not even put up a fight in the last innings. «Even when this England team have lost in the last 2 years you have always been able to take positives… or they haven't been hammered… this is looking like a wake up call that surely sends a message you can't just play one way against quality teams,» Vaughan wrote on X.