UPS Financial News

Ahmedabad-Mumbai Double Decker Express got detached from the running train near Surat city in Gujarat on Thursday morning, officials said. The incident took place at around 8.50 am when the train (number 12932) reached Gothangam yard between Sayan and Surat railway station, a release by the Western Railway (WR) said. Nobody was injured in the incident and the affected coaches were later re-attached with the train, it said. Immediately after the incident, restoration work was launched and Up trains were operated through the loop line, the WR said on X.

Reintroduced indexation for property disallows loss offsets, excludes NRIs Real estate buyers get tax breaks on both the loan used to buy the property and income earned from it, i.e, rent. On a let-out house, the full interest paid towards home loan can be deducted. In the case of a self-occupied or an empty house (not rented out), interest up to ₹2 lakh can be deducted.

Isro will launch Earth Observation Satellite-8 (EOS-8) using its recently built small satellite launch vehicle, SSLV-D3. Isro announced on X that the launch is slated for «August 16 in a launch window of one hour starting at 09:17 Hrs (IST)». This is the third and last development flight from Sriharikota for SSLV. «It brings the SSLV development project to a close and opens up operational missions for NSIL and Indian industry,» Isro said. Following a successful liftoff, the SSLV project will be initiated in accordance with NSIL's and the industry's operational and commercial requirements. Compared to PSLV, which takes more than a month to assemble and requires more workers, SSLV is a smaller version of PSLV that can be put together in a matter of days with fewer workers. Since SSLV is an affordable launch vehicle, it would increase the number of Isro's commercial launches and aid India in gaining a larger market share in the space launch services industry worldwide, which was valued at $14.9 billion in 2023 and is projected to expand at a 14.6% compound annual growth rate (CAGR) from 2024 to 2030.

Addressing the nation from the ramparts of the Red Fort on the 78th Independence Day, he highlighted his government's efforts towards environment protection in various fields with a focus on rail operations. «We are aiming to achieve net zero emission by 2030 in Railways,» said the prime minister.

The Ecuador Central Bank has warned citizens about the dangers of crypto as Worldcoin (WLD) adoption continues to increase in the Latin American nation.

Brides and florists are having sticker shock at the inflated prices of floral arrangements for weddings.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

ADHD, which can impact her ability to concentrate. So, she turned to AI. The app Claude helps her decide which contracts made the most sense for her hygienic-wipes business, GetDirty, without having to read them word for word. She also created business plans by telling the generative AI bot what her goals were and having it create steps for her to get there. «It's been just massively instrumental. I probably would not be where I am today,» she said of using AI for about two years.

HR manager was terminated after challenging her boss's controversial leave policy for Raksha Bandhan. The incident has sparked debate on employee rights and company policies. As per the employee's LinkdIn post, The dispute began when the boss of the company introduced a new rule stating that employees who wished to take leave for Raksha Bandhan on August 19 would face a deduction of seven days' salary instead of just one. This policy, shared via WhatsApp, was met with resistance from the HR manager, who argued that it was unfair and illegal under fundamental rights. Despite her efforts, her stance led to her dismissal.

Interarch Building Products will open for subscription on August 19. The issue closes on August 21. Through the public offer, the company plans to raise around Rs 600 crore. Here are 10 things to know about the Interarch Building Products IPO before subscribing to the issue. 1) What is the business overview of Interarch Building Products?

According to the Office for National Statistics, gross domestic product expanded by 0.9% from April to June, compared with the same quarter a year ago.  The figures confirm that the economy has enjoyed a strong recovery from its mild technical recession last year.  «The UK economy has now grown strongly for two quarters, following the weakness we saw in the second half of last year,» said Liz McKeown, director of economic statistics at the ONS.  UK inflation creeps up less than expected to 2.2% after two months at target With 0.8% growth, the statistical agency said the expansio...

Former IMF chief economist Kenneth Rogoff discusses the state of the economy following the July CPI report.

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The financial press is cheering that Wednesday’s inflation report makes an interest-rate cut next month a fait accompli. Go, Jay, go. Yet while cooling inflation shows that the Federal Reserve’s monetary medicine is working, Chairman Jerome Powell’s caution to date has been warranted.

market volatility has been spurred by a confluence of factors. Weaker-than-anticipated US economic data has ignited concerns about a potential recession, with market estimates now placing its likelihood at 30-35%, a significant increase from the less than 10% projection in June 2024. Adding to the turbulence, the surprise rate hike by the Bank of Japan and the subsequent reversal of yen carry trades have exacerbated market uncertainty. The Indian Rupee has borne the brunt of this volatility, hitting near all-time lows and breaching its previous October 2022 record of INR 83.5. While the Rupee has depreciated in the short term, it has exhibited relative stability compared to other emerging and developed market currencies over the past six months. INRperformance V/s Emerging Market Currencies (YTD INR depreciation~1% v/s other EM currencies ~4-10% depreciation)

Chinese EVs and Indian container shortage have in common? In one word, everything. With the US imposing a 100% anti-dumping duty on Chinese electric vehicles from August 1 and several countries in Europe planning to follow suit in September and October, the Chinese EV industry has been on production overdrive to ship as many vehicles as possible before the duty deadline. This pile up of inventory has clogged an already stretched logistics network. Siddharth Jairaj, CEO, TVS SCS global forwarding solutions said, “Because of the anti-dumping duties, China has been shipping out huge numbers of electric vehicles since April and May to beat the duty deadlines. So global nodal ports like Singapore and Colombo and clogged.” As containers are being diverted to cater to “Chinese inventory, the port congestion is spreading and has now hit India too,” he added.

fake roof signs that have recently been reported in several cities.In a statement on Wednesday, the group said that there has been a rash of scams and cons involving fake taxis, mostly in Ontario, where a team of two people pretends to be a distressed passenger and taxi driver.The group said such incidents were reported by police in Toronto, Sarnia, Sudbury and Ottawa.“I wouldn’t call it on the rise, but it’s very prevalent,” said Canadian Taxi Association president Marc Andre Way in an interview with Global News.“It seems to be moving from one city to the other.”Way said the CTA suspects it might be the same group moving from city to city, but they’re not sure.The scam involves a fake passenger approaching a passerby and saying their taxi driver will not take cash, which Way said is a red flag.Drivers not only accept cash, but often prefer cash,” he said.The fraudster then offers to give cash to the targeted victim in exchange for using their debit or credit card.“The scammer posing as the taxi driver then swipes the card and steals the target’s Personal Identification Number (PIN), later to drain their bank account or fraudulently use their credit card,” the CTA said in its release.In Sarnia, at least 12 such incidents were reported last month, resulting in individual losses ranging from $980 to $9,900, according to police.The Ottawa Police Service also said in a statement on Monday that it has recently received several complaints concerning people being defrauded after offering assistance in paying with their personal credit or bank card for a taxi or Uber fare.The CTA said it has taken up the issue of the generic “Taxi” signs with Amazon, requesting the company in a letter to stop selling them online as they are

Hindu minority community in Bangladesh, RSS chief Mohan Bhagwat on Thursday said Hindus living there were being subjected to violence for no reason, and added that our country has the responsibility to ensure they do not face any injustice and atrocities. He was speaking after hoisting the national flag at the Rashtriya Swayamsevak Sangh (RSS) headquarters in Mahal area here on the occasion of Independence Day. «The coming generation has the duty to protect the 'swa' of the 'swatantrata' (freedom) because there are always people in the world who want to dominate other countries and we have to be alert and careful, and protect ourselves from them,» he said.

According to SBI's website, the one-year MCLR has increased from 8.85% to 8.95% starting from August 15, 2024. Home loan interest rates August 2024: Banks offering cheapest home loan interest rates for amounts above Rs 75 lakh

India's renewable energy storage capacity is expected to surge 6 GW by fiscal 2028 from less than 1 GW operational as of March 2024, driven by a robust pipeline of projects under implementation, said Crisil Ratings. Such an increase is crucial to sustainably absorb the rising share of renewable energy in the country's overall power generation mix. Despite slow progress on project implementation, the government's push to develop renewable energy power and tariffs for round-the-clock renewable energy, discovered in the last two fiscals, being comparable with other sources of round-the-clock power — improves confidence around adoption, said the rating agency.

The Indian stock market is counted as one of the world’s best-performing markets. The NSE today is the second fastest-growing stock exchange in the world besides being the world’s third largest Stock Exchange in terms of equities. BSE is the 11th largest stock exchange in the world besides being cited as the world's best performing shares market. The stature of the bourses has elevated the position of the Indian stock market on the world map.