Waves Financial News

Aye Finance has raised about $25 million from Goldman Sachs (India) Finance, the non-banking unit of Goldman Sachs in India, in a securitisation deal. The deal, valued Rs 212 crore in local currency, was announced Tuesday. This will free capital for Aye Finance and help it in business expansion. The fintech company lends to micro enterprises across India.

superyacht off Sicily on Tuesday to search for six people, including British tech magnate Mike Lynch, who are believed to be still trapped in the hull, 50 meters (164 feet) underwater. Divers were loading a rescue dinghy at the port of Porticello, near Palermo, after a first search Monday ended unsuccessfully. Fire rescue crews reported that divers were unable to access the below-deck cabins because they were blocked by debris that had shifted during the violent storm that toppled the luxury sailboat early Monday. Fifteen people survived, including a mother who reported holding her 1-year-old baby over the waves to save her. One body has been recovered, officials said.

companies that make air-conditioners. Leading firms such as PG Electroplast and Epack Durable reported more than 70% year-on-year growth in the June quarter. These companies design and make air-conditioners for famous brands such as Voltas, Blue Star and Samsung, apart from washing machines and electronic appliances.

Mint explains: BHIM, the payment application developed by NPCI, was among the first wave of apps launched (in December 2016) to facilitate digital payments using the Unified Payments Interface (UPI). BHIM allows users to send or receive money from a UPI payment addressee, or send money to non-UPI based accounts by scanning a QR code. For BHIM, the maximum transaction limit is ₹1 lakh per day for a single bank account linked to the app.

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

Japan sent out its first-ever megaquake warning following an earthquake of 7.1 magnitude on the Richter scale that occurred on the southern island of Kyushu. It wasn't the main concern, even though the shaking didn't produce much ramifications but the largest tsunami wave it produced would have reached one’s knee. Instead, seismologists were worried that the earthquake would cause tension that might set off a bomb that was ticking away offshore in Japan, near the Nankai trough, which is probably the most dangerous fault in the nation. The Japanese government estimates that the subduction zone has the capacity to produce tsunami waves up to 100 feet tall and kill almost a third of a million people. As quoted in a report by NBC News, Harold Tobin, Washington state’s seismologist, stated, «We don't have such a protocol» in the United States. However, the Cascadia subduction zone has equally dangerous faults. The Cascadia fault's 9.0 magnitude earthquake and the fatal tsunami, according to the Federal Emergency Management Agency, would kill 14,000 people in Oregon and Washington. Tobin has been considering this scenario for years: What justifies raising the alarm if he discovers evidence, even if it's slight, that a catastrophic earthquake is more likely to occur? Part of Tobin's dilemma stems from this peculiar period in his field: In the world's most seismically hazardous areas, researchers believe they are narrowing in on the causes or precursors of earthquakes, but the science is far from conclusive.

Retail investors have grown used to riding the wave of the peaks and troughs over the last few years, from pandemic era paranoia to various macroeconomic events, including two ongoing wars.  When the S&P 500 plummeted by 5.9%, Nasdaq by 8% and the Tokyo's Nikkei 225 slid by as much as a 12% in the first five days of trading in August, according to data from MarketWatch, retail investors overwhelmingly opted against trimming their portfolios.  'Today is going to be carnage': How funds dealt with a week of market volatility Instead, many took advantage of the fire sale was underway w...

Maha Yuti' after a local BJP leader and some workers protested on Sunday and waved black flags during deputy chief minister Ajit Pawar's campaign yatra in Pune. The incident led to top NCP leaders asking the BJP leadership to intervene and ensure that such incidents do not happen in the future in the interest of the "unity" of the alliance. Pawar was shown black flags by former BJP district council president Asha Buchke, who claimed that the NCP leader has been holding government meetings by sidelining BJP leaders, including chief minister Eknath Shinde. Buchke and her supporters raised black flags and shouted slogans against Pawar when he was in Narayangaon in Pune holding a Jansanman Yatra, an initiative to reach out to people before the assembly elections.

Harris and running mate Tim Walz will campaign by bus in southwestern Pennsylvania on Sunday, hoping to ride the wave of enthusiasm her candidacy has brought to the presidential race to their party's nominating convention in Chicago this week. Vice President Harris and Walz, the governor of Minnesota, will be joined by their spouses, Doug Emhoff and Gwen Walz, as they get on and off the bus in the Pittsburgh area to glad-hand with voters. Harris and Emhoff were scheduled to deliver remarks at an event in the borough of Rochester, in Beaver County, which Donald Trump, the Republican presidential nominee, won in 2020, though he lost the general election to Democrat Joe Biden. Southwestern Pennsylvania is a critical part of a key battleground state that has long commanded the attention of presidential candidates. The state voted for the Republican presidential candidate in 2016 and for the Democratic candidate in 2020. Both Harris and Trump are vying to see who can put Pennsylvania in their column on Nov. 5.

volcano, located in Russia’s Far Eastern Kamchatka region, has erupted, sending ash as high as 8 km into the sky, Russian agency TASS reported. According to the Institute of Volcanology and Seismology, part of the Far Eastern Branch of the Russian Academy of Sciences, the ash column has risen as high as 8 kilometers above sea level. The eruption has also led to the release of a significant amount of lava. Shiveluch is one of the largest and most active volcanoes on the Kamchatka Peninsula, standing at a height of 3,283 meters. The Shiveluch volcano is situated at the junction of the Kuril-Kamchatka and Aleutian island arcs, approximately 50 kilometers from the village of Klyuchi in the Ust-Kamchatsky District and about 450 kilometers from the regional capital, Petropavlovsk-Kamchatsky.

deep tech and space. Investing in such enterprises is not easy as it requires a deep understanding of sciences and a long investment horizon. Some of the companies it has invested in like CynLr, Ultraviolette and Agnikul are moving into the monetisation stage, and Speciale Invest is looking for the next big thing, says Arjun Rao, partner, Speciale Invest, in an interview with ET. Edited excerpts: When you started, there was little institutional money for deep tech in India. Things have changed. Has your approach changed too? Our initial thesis was that there is talent in the country for developing deep tech. From a demand perspective, there are enough problems to be solved, which will require deep tech companies to be built over the next decade and longer.

Stree 2 continues to make waves at the box office, earning approximately Rs 30 crore on its second day. Despite a significant 43 percent drop in collections from its opening day, the film's total now stands at an impressive Rs 90.30 crore, edging it closer to the coveted Rs 100 crore mark. On its first day, Stree 2 had an outstanding performance, raking in Rs 51.8 crore nett, supplemented by an additional Rs 8.5 crore from paid previews. The film, directed by Amar Kaushik and produced by Dinesh Vijan, outperformed major blockbusters like Pathaan, Jawan, and Gadar 2 in several mass circuits, showing the lasting appeal of this horror-comedy franchise.

Aattam, directed by Anand Ekarshi, has been making waves after winning three prestigious awards at the 70th National Film Awards, including Best Feature Film, Best Screenplay, and Best Editing. The film's accolades have been described by Ekarshi as «a huge fortune» that surpassed their expectations. He credited the film's success to actor Vinay Forrt, who «pushed me to do the film,» and producer Ajit Joy, who showed immense courage and faith in the project. Vinay Forrt, speaking to a TV channel, humbly redirected the praise to the director and producer, expressing his happiness over the recognition of theatre artists who played pivotal roles in the film. «I hope there are many more such big awards for small-time actors in Kerala,» he added, highlighting the significance of the awards for lesser-known talents.

The companies, in a filing disclosed Thursday, have asked the Commerce Department to apply the duties right away, amid a surge in imports from Vietnam and Thailand. An existing trade case already poses the risk of anti-dumping and countervailing duties, but the new filing raises the prospect of duties being imposed even before a final decision in the case. If imports have surged during a trade investigation, the government can determine that “critical circumstances” exist — a finding that paves the way for such retroactive tariffs. Companies importing panels and cells would need to post cash deposits while awaiting a final decision in the trade case.

Also read | Can bring in a hybrid in a 'reasonable' time frame if market demands: M&M “For us, the one important thing in creating a moat is volume scale; so, everything we are doing is with a view to make sure we have volume momentum," said Rajesh Jejurikar, MD & CEO, auto & farm sectors, Mahindra & Mahindra, at the launch of the Thar Roxx in Kochi on Thursday. Jejurikar explained that volumes bring cost efficiency, better supplier involvement, and motivated dealers and teams.

Srinagar: Lieutenant Governor of Jammu and Kashmir, Manoj Sinha, on Thursday said that the Indian forces will not allow the neighbouring country to revive militancy in Jammu region as efforts have been intensified to crush militancy. Sinha hoisted the tricolor at Bakshi stadium in Srinagar and addressed the gathering. The administration also opened Balidan Stambh, a memorial dedicated to government forces personnel who died in the line of duty, at Partap Park in Srinagar. Sinha urged people in Jammu region that witnessed a spike in high casualty militant attacks and violence over the past two months, to stay united and help the forces to put an end to militancy in the region.

Anant Ambani and Radhika Merchant were recently seen shopping for jewelry in Panama during their honeymoon. A video uploaded on Instagram captures the newly married couple inside a jewelry store, where they cheerfully posed with the store's staff. Radhika Merchant chose a laid-back look, wearing a striped t-shirt paired with white pants and sporting relaxed, beachy waves. She kept her appearance understated by not wearing any jewelry. Anant opted for a tropical print shirt, which has quickly become a hallmark of his style. Anant is the younger son of Mukesh Ambani, the chairman of Reliance Industries, and his wife, Nita Ambani.

Foxconn on Wednesday reported a six percent jump in net profit for the second quarter of the year, driven by strong growth in demand for artificial intelligence servers. Also known by its official name Hon Hai Precision Industry, the firm is the world's largest contract electronics manufacturer and assembles devices for major tech companies, most notably Apple's iPhones. It said Wednesday that net profit for April-June rose to NT$35.05 billion (US$1.08 billion) from NT$33 billion the same period last year.

US stock market on Wednesday closed on green as key indices — S&P 500, Dow Jones Industrial Average, and Nasdaq — rose. The Dow Jones Industrial Average closed up 0.6 per cent at 40,008.39, while the broad-based S&P 500 rose 0.4 per cent to 5,455.21, and the Nasdaq increased by less than 0.1 per cent 17,192.60. Among individual stocks, the news of Snickers maker Mars's near-$36 billion acquisition of snacking giant Kellanova made waves on Wall Street, sending the share price of the former firm up by 4.5 per cent, and the latter by 7.8 per cent.

Ukrainian Army used the battery fire or the hydrogen tank explosion technique to convert a civilian Toyota Mirai car into a hydrogen and plastic explosive that wreaked havoc. It was not a thermonuclear device or a hydrogen bomb, no fissile material was used. It was made using a fuel tank from a hydrogen car. However, the Ukrainian Army foiled the Russian efforts to take the town of Vovchansk and pushed them to a plant north of the river.