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2024-11-02 | Forbes | Fintechs And Bigtechs Share The Spoils As Gen AI Reshapes Financial Services | Financial services is proving to be a sweet spot for generative AI applications Since OpenAI launched ChatGPT-4, the biggest names in technology as well as myriads of wannabe start-ups have scrambled to create marketable solutions powered by generative AI. It didn’t take long for the analysts to work out that financial services is the sweet spot for gen AI. Banks, insurers and capital markets firms are a lot more complex than the average manufacturer or retailer, with a large proportion of processes that lend themselves to automation or augmentation (see the chart below). They are also subject to more regulation, with a compliance burden that demands a vast amount of data and manual effort. And then there’s the fact that financial services involves an awful lot of language tasks, which gen AI can handle without breaking a sweat. Financial services has the most jobs that can be automated or augmented by AI Financial services firms have, of course, been investing in AI for many years. Banks in particular have aggressively recruited technology and data scientists from universities. This has not only allowed them to build their AI capabilities in areas like fraud management; it has also created appealing research and work environments for academics and other scarce specialists, facilitating further recruitment as well as partnerships with academia. What then is the likely trajectory of gen AI in financial services? I believe we will see two main trends, working in different directions. First, the technology giants will continue to invest massively in large, complex systems that address companies’ horizontal functions in a generic but scaled way. Finance, IT, sales and marketing, HR and more will all be profoundly affected. These systems will be expensive to build, train and use, so there are likely to be relatively few contenders for the prize of market dominance. In many cases, though, it will be difficult to audit, manage and govern these models to the standards a financial services organization would require. In some ways, gen AI in financial services is a bit like the steam engine when it burst onto the scene. There was a lot of initial excitement, but to get value from it people needed faster ways of laying out railroads and manufacturing rolling stock, along with creating the other important infrastructure. The groundwork must be done first for financial services to fully harness generative AI. The second trend, I believe, will be the proliferation of highly specialized start-ups targeting not only specific industries but also niches within each industry. These vertical systems will be smaller, simpler and cheaper, and enabled by advanced data segmentation and modeling. In financial services they will address many of the 73% of banking tasks and 70% of insurance tasks that are ripe for automation or augmentation. This verticalization and specialization of the models creates opportunities for fintechs to take over particular niches and train their models on very specific bodies of data. This will enable outsized results. Some of the applications will supercharge existing tasks and processes; others will completely transform them or introduce services or capabilities we haven’t yet thought of. The allure of this opportunity is reflected in the upsurge of VC funding which to some degree has reversed the slump in fintech funding caused by the rise in interest rates. Meanwhile, many existing fintechs are jumping in and leveraging gen AI in specialized ways, to the benefit of financial services providers. According to Cambridge Centre for Alternative Finance, roughly 90% of all fintech companies are already using some level of AI in their business models, all working simultaneously to carve out their respective niche of the market. One example is Howso, which helps businesses solve data availability problems by generating synthetic data that is private, fully auditable and usable for any task. The auditing of gen AI models and the data they use is highly evolved and incredibly important for financial services players to ensure there is no decision-making bias. In wealth management there’s Responsive AI, a next-best-action platform that uses gen AI for document analysis and custom advisor email generation. Other examples include SkyHive, a workforce reskilling solution that harnesses gen AI to organize workplace data, automate HR processes and empower a dynamic, skill-based labor economy, and Nuclia, which embeds AI search and generative answers into third-party products. While FS companies need to manage the risks around explainability, privacy and security, the adoption rate of gen AI powered solutions could be dramatically faster than in any other industry as firms prioritize use cases, including software development and knowledge management chatbots to support front office staff. However, banks and insurers will need to be mindful of regulations around gen AI as they’re developed and ensure that they are following the right standards and guidelines across multiple geographies. Adoption will be driven not only by the rapid advancement of technology in general, but more importantly by the inherent ability of AI to perpetually self-improve. Recent surveys have shown consistently that a large majority of business executives acknowledge this and report increased investment in the technology. It’s too early to predict the exact impact of gen AI on financial services, but it seems certain that there will be significant opportunities to increase personalization, augment relationship management and customer service, and improve efficiency through automation of language-intensive tasks. Fintech companies may well be at the vanguard of this movement. |
2024-11-02 | The Times of India | Topping Asia Pacific! Indian companies likely to offer highest salary increases in 2024; check ‘hot jobs’ & sectors | Highest salary hikes: Indian companies are expecting a 9.8% increase in employee salaries in 2024, which is close to the 10% raise observed in 2023. This places India at the top in terms of salary hikes in the Asia Pacific region, as per the Salary Budget Planning Report by WTW. According to ET, the report highlights that tighter labor markets and rising inflation are among the key factors influencing this salary increment trend.Compared to the previous year, more than half of the companies have increased their salary budgets in 2023.Additionally, a quarter of these companies have exceeded their budget projections made in December 2022, the survey shows.The sectors expected to witness the highest salary hikes in 2024 are technology, media and gaming, financial services, and retail, with a projected increment of 10%.Furthermore, companies in the banking, financial services, and insurance (BFSI) sector, retail, and captives have projected slightly higher increases for 2024 compared to the actual salary increments observed in 2023. The expected salary hikes are; 10% for BFSI, 10% for retail and 9.9% for captives. This is due to the sustained demand for skilled talent in these sectors. Rajul Mathur, the consulting leader for work and rewards at WTW India, emphasized that companies across various industries are closely monitoring their cost structures.Why India’s Credit Rating Should Be Upgraded | Fastest Growing Economy But Lowest Investment GradeThe Salary Budget Planning Report, which received responses from around 32,512 companies across 150 countries, was conducted between April and May 2023.Salary Hikes Highest in India within APACIn the Asia Pacific (APAC) region, India maintains the highest salary increases. Projections for 2024 indicate a salary increase of 8% in Vietnam, 6% in China, 5.7% in the Philippines, and 5% in Thailand.In terms of recruitment, approximately 28% of surveyed companies plan to hire in the coming year, with around 60% of companies having expanded their workforce in 2023 compared to the previous year.The most sought-after or ‘hot jobs’ for the next 12 months include Information Technology (61%), Engineering (59.8%), Sales (42.9%), Technical Skills Trade (38.6%), Finance (11.8%), Marketing (10.6%), and Human Resources (3.1%). |
2024-11-02 | The Times of India | Bank of England holds rates at 5.25%, rules out quick cuts to help economy | Reuters The Bank of England held interest rates at a 15-year peak as it kept up its fight against the highest inflation among the world's big rich economies, and it stressed that it did not expect to cut them any time soon. Despite publishing forecasts which now show the British economy now skirting close to a recession and flat-lining in the coming years, the BoE held Bank Rate at 5.25% for the second meeting in a row after 14 back-to-back increases. It also reinforced its message that borrowing costs were set to stay high, even though only about half of the impact of its long run of rate hikes have been felt in the economy so far. The Monetary Policy Committee (MPC) voted 6-3 to keep Bank Rate on hold, in line with economists' expectations in a Reuters poll. "The MPC's latest projections indicate that monetary policy is likely to need to be restrictive for an extended period of time," the BoE said. "Further tightening in monetary policy would be required if there were evidence of more persistent inflationary pressure." In September, the BoE had said rates would need to remain "sufficiently restrictive for sufficiently long." Governor Andrew Bailey also tried to hammer home the message that inflation's fall over the past year from its highest since the 1980s and the weaker economic outlook should not be seen as a sign that rate cuts might soon be on the table, and a more likely possibility was another rate hike. "We need to see inflation continuing to fall all the way to our 2% target," Bailey said in a statement. "We've held rates unchanged this month, but we'll be watching closely to see if further rate increases are needed. It's much too early to be thinking about rate cuts." The decision to keep rates on hold echoed moves by the European Central Bank and the U.S. Federal Reserve over the past week. They are also waiting to see if their strong dose of rate hike medicine will curb the world's worst outbreak of inflation in decades. Policymakers are also watching for any signs that the conflict in the Middle East causes a fresh round of higher inflation as it pushes up oil and gas prices. MPC members Megan Greene, Jonathan Haskel and Catherine Mann voted to raise rates to 5.5%. Sarah Breeden voted to keep rates on hold at her first meeting as an MPC member since replacing Jon Cunliffe. FLAT-LINING ECONOMY The BoE has said it is determined to stamp out the risk of a damaging spiral of higher pay and prices. Although inflation has fallen from 11.1% just over a year ago to 6.7% in the most recent data, it remains more than three times the BoE's 2% target. The central bank said it now expected Britain's economy to have flat-lined in the July-September period and to grow by just 0.1% in the fourth quarter, with zero growth forecast for 2024 and an expansion of just 0.25% in 2025. But even so, inflation would only return to 2% at end of 2025, roughly six months later than previously forecast. Investors think the BoE has reached the end of its run of rate hikes, given the risk of a recession. In the run-up to Thursday's announcement they were betting that the BoE will keep interest rates on hold until at least August next year when it would probably start to cut them. The BoE showed no sign that it was challenging those expectations: its forecasts on Thursday showed that, based on the market's pricing for Bank Rate in the future, inflation would fall to its 2% target in two years' time. The slowdown in the economy and the fading impact of last year's gas price surge is likely mean inflation resumes its fall soon. The BoE said it was likely to drop to 4.8% in October, almost two full points lower than in September. But the BoE is still keeping a close eye on strong wage growth which it fears could keep a flame under inflation. The central bank said there were "increasing uncertainties" about official data on the labour market, which has been hampered by low survey response rates, but jobs growth was likely to have been weaker than it previously thought and the worryingly strong growth in wages was expected to cool off. The BoE forecast the unemployment rate would rise to 5% in two years' time from around 4.2% now, based on the market's path for interest rates. One detail in the BoE's otherwise downbeat assessment of the economy is likely to be welcomed by Prime Minister Rishi Sunak. It predicted inflation of 4.6% in the fourth quarter of 2023 which would mean Sunak meets his pledge to voters to have price growth this year, ahead of a national election which is widely expected in 2024. Connect with Experts - Wealth creation made easy Print Edition Thursday, 02 Nov, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Brands & Companies Learn more about our print edition More Octoberfest: Most Macro Indicators Enter Party Zone India’s goods and services tax (GST) revenue rose 13% in October to ₹1.72 lakh crore, the second highest monthly collection since the levy was rolled out in July 2017, riding robust festive demand and improved compliance. Big FMCG Bite Gives Teeth to Revival Recipe Global research firm Kantar said it is seeing the start of a turnaround in the fast-moving consumer goods (FMCG) sector, after demand for daily groceries and essentials increased 7.2% year-on-year in the September quarter. Apollo Bets Big on Pvt Credit Space in India Pivoting away from their swashbuckling playbook of big-bang buyouts, most marque PE funds are now embracing private credit as the cost of funds surges to their highest since 2008. Apollo’s private credit unit now manages more than $400 billion in AUM, four times the size of its buyout arm, which has been the linchpin of its business. In an exclusive interview with Swaraj Dhanjal and Arijit Barman in Mumbai during his first India trip, James C Zelter, co-president of the firm, talks about this mega shift in high finance. Read More News on Bank of England rate hike Bank of England BOE Rate hike Bank of England news BoE rate hike news (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) 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2024-11-02 | ABC News | Only debate of Mississippi governor's race brings insults and interruptions from Reeves and Presley | JACKSON, Miss. --Mississippi Republican Gov. Tate Reeves and Democratic challenger Brandon Presley insulted and spoke over each other several times Wednesday night in their only debate of a rough-and-tumble campaign season, presenting sharply contrasting plans for the state. The televised debate happened six days before the generalelectionin a deeply conservative state where Republicans have held the governor's office for the past 20 years. Reeves said that Presley, a utility regulator, has taken questionable campaign contributions from “solar panel buddies ... that have tried to run the oil business out of America." Presley said the contributions he received were legal but state government “is bought and sold to the highest bidder" under Reeves, with the governor demanding campaign money before meeting with people. The debate was held before a small audience in the WAPT-TV studio in Jackson. It aired on the ABC affiliate in the Jackson area and statewide on Mississippi Public Broadcasting. One flashpoint came in response to a videotaped question from a Jackson-area resident who asked whether the state should encourage two-parent homes by allowing people to retain welfare benefits for a few months after marriage. Reeves said people should not be penalized for getting married. “We need to encourage more moms and dads that are working to help with their children,” Reeves said. “And that’s certainly policies that I’m more than willing to look into and more than willing to try to get done so that we make it easier for people that have children to take care of those children.” Presley said he was 8 years old when his own father was murdered, and he and his siblings were raised by a single mother who worked a factory job and sometimes struggled to pay bills. Presley said his mother “was somebody that Tate Reeves would say is a welfare person.” “I’m not going to be cold-hearted to single parent families that sometimes find themselves in this situation,” Presley said. “I believe everybody I meet is a child of God, is somebody that Jesus went to the cross to die for. And I believe we should treat them with dignity and respect.” Reeves responded that Presley was trying to speak on behalf of conservative Republicans. “Brandon, you don’t speak for me and you don’t speak for Republicans,” Reeves said. Reeves spoke frequently about Presley receiving campaign contributions from out-of-state donors. Presley said Reeves likes to talk about California and New York instead of small towns in Mississippi. “Let me tell you this, governor: How ‘bout you talk about Caledonia and New Hebron?” Presley said, adding that Reeves doesn't have the “guts and backbone” to clean up corruption in state government. “You've been the chief cheerleader, with pompoms in your hand, for corruption," Presley said. Reeves responded: “I went to breakfast in Caledonia last Monday morning, and I’m going to tell you something, Brandon. You’re going to get more votes in California than you get in Caledonia.” Presley repeated his frequent call for Medicaid expansion to people who work in lower-wage jobs that don’t provide health insurance, while Reeves said expansion could prompt some people to drop private insurance and join a government-funded program that pays lower rates tohealth careproviders. Medicaid expansion is an option under the health care overhaul that then-President Barack Obama signed into law in 2010. Mississippi is one of 10 states that have not taken the option. The non-expansion states have a Republican governor, a Republican-controlled legislature or — like Mississippi — both. Reeves often refers to Medicaid as “welfare,” although he did not do so during the debate. Presley said some states that voted for former PresidentDonald Trumphave chosen to expand Medicaid. Trump released a 30-second video on Tuesday, endorsing Reeves, and Reeves told Presley: “Donald Trump only supports the only conservative in this race." Presley said Reeves is at the center of Mississippi's largest public corruption scandal. The state auditor has said tens of millions of welfare dollars were misspent on projects for wealthy and well-connected people, including a university volleyball facility pushed by retired NFL quarterback Brett Favre while Reeves was lieutenant governor. “His brother was text messaging with Brett Favre about how to be a PR agent,” Presley said, referring to messages between Todd Reeves and Favre that the governor's own campaign released this year. The governor pointed at Presley and yelled: “Keep my family out of it.” Reeves called for full elimination of the state income tax, while Presley called for reduction in Mississippi’s 7% tax on groceries, which is the highest in the nation. Presley touted his endorsement from a teachers' union, while Reeves said the national union leader advocated shutdowns for schools during the COVID-19 pandemic. “I guess he's got a little bit of amnesia about all the shutdowns he did in the middle of COVID,” Presley said of Reeves. Reeves served two terms as state treasurer and two as lieutenant governor before winning the governor's race in 2019. Presley is a second cousin of rock ’n’ roll icon Elvis Presley. He is a former Nettleton mayor and is in his fourth term as an elected member of the Mississippi Public Service Commission. An independent candidate, Gwendolyn Gray, said she was leaving the governor's race last month and endorsing Presley — but she did it after ballots were set. If neither Reeves nor Presley receives a majority in next Tuesday's election, the race would go to a Nov. 28 runoff. |
2024-11-02 | The Times of India | Asian shares, bonds rally as Powell feeds hopes of end to rate hikes | Agencies Asian shares and bonds extended a global rally on Thursday as a non-committal Federal Reserve Chair had markets double down on bets that U.S. interest rates have peaked and cuts are on the way. Investors are now awaiting the results from Apple later in the day, a bellwether for consumer demand and the tech sector. The Cupertino California-based company is expected to report a 1% decrease in quarterly revenue. MSCI's broadest index of Asia-Pacific shares outside Japan surged 1.7% to the highest level in one week. Tokyo's Nikkei gained 1.4% to cross the 32,000 level for the first time in two weeks. China's blue chips were 0.3% higher, while Hong Kong's Hang Seng index jumped 1.7%. Stock futures in Europe and U.S. also gained. EUROSTOXX 50 futures rose 0.8% early in Asia, while S&P 500 futures added 0.3% and Nasdaq futures increased 0.5%. Overnight, the Fed held the policy rate steady in its current 5.25%-5.50% range. While Chair Jerome Powell did not rule out another hike, markets judged he was not quite as hawkish as he might have been. Fed funds futures rallied as markets pared back the risk of a December hike to about 22% and a January move to 28%. Markets have priced in a 70% chance that the tightening is over and rate cuts could amount to 85 basis points next year, beginning as soon as June. Wall Street and Treasuries rallied. The S&P 500 gained 1% and the Nasdaq Composite surged 1.6%. The benchmark 10-year Treasury yield eased another 2 basis points to 4.7089%, the lowest in more than two weeks. Overnight, it tumbled 14 basis points, the biggest daily drop since March, also in part due to a Treasury announcement that said the government will slow increases in the size of its longer-dated auctions. "While growth was incredibly strong in the third quarter of 2024 at 5%, we suspect a substantial slowing in 4Q24, which, based on Powell's remarks today, likely won't be enough to garner additional tightening," Tiffany Wilding, an economist at PIMCO, wrote in a note to clients. "Instead the FOMC is happy to remain on hold, and watch and see how the economy evolves early next year." The next big focal point for the market is the non-farm payrolls data on Friday, which analysts expect to show the economy added 180,000 jobs in October, slowing from 336,000 increase the previous month. It will come after private payrolls increased far less than expected. The dollar was again on the back foot on Thursday, falling 0.1% against its peers. The prospect that the Fed is done tightening buoyed risk sensitive currencies the most, with Australian dollar bouncing 0.6% to a three-week high of $0.6428. "Although the FOMC may not be talking about it today, within a few months, the question will no longer be 'Will they hike again?' but 'When will they cut?'," said Seema Shah, Chief Global Strategist at Principal Asset Management. The yen continued to regain ground - up 0.3% to 150.46 per dollar on Thursday. It had hit a one-year low after a Bank of Japan decision to ease its control over the 1% cap on 10-year yields, with the tweak seen insufficient to close the wide interest rate gaps between Japan and other countries. Oil prices traded higher as the conflict in the Middle East kept investors on edge about whether it could disrupt oil supplies. Brent crude futures climbed 1.2% to $85.61 a barrel while U.S. West Texas Intermediate futures were at $81.43 a barrel, up 1.2%. The price of gold was 0.2% higher at $1,985.86 per ounce. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on federal reserve chair fed Asian shares msci s Apple (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-11-02 | The Times of India | King Khan birthday special: 'Dunki' teaser launched, Shah Rukh Khan calls Raju Hirani film a tale of 'friendship & love' | Agencies The third SRK-starrer in 2023, ‘Dunki’ marks the first collaboration between two Bollywood heavyweights, Khan and Rajkumar Hirani. The teaser of one of the most awaited films of 2023 is here! Bollywood superstar Shah Rukh Khan , who turned 58 today, treated his fans to the teaser of ‘Dunki’ on his birthday. Taking to X (formerly Twitter), Khan called the film "a story of simple and real people trying to fulfill their dreams and desires. Of friendship, love, and being together… Of being in a relationship called Home!" The superstar also gave a shoutout to director Rajkumar Hirani . "A heartwarming story by a heartwarming storyteller. It's an honour to be a part of this journey and I hope you all come along with us. The #DunkiDrop1 is here..." he wrote. — iamsrk (@iamsrk) Several fans were all praise for the teaser. "Not Pathaan or Jawaan, this is the comeback that we've been waiting for. Happy birthday," wrote a fan. — rao_4005 (@rao_4005) Another fan admitted that they loved SRK in light-hearted slice-of-life comedies instead of tentpole action movies. "I always prefer to see him in such kinda films rather than action films it's his home ground," they wrote. — missteatotaller (@missteatotaller) Another predicted that the movie will make history at the box-office, due to the unbeatable Hirani + Shah Rukh Khan combination. "This will be a film that will smash every record especially when it comes to overseas. SRK and Hirani combo is deadly and if they have an open ground like Christmas and new year, expecting it to have highest footfalls in the last 5 years," they tweeted. — sherry1111111 (@sherry1111111) 'Dunki': A Tragicomedy? From the teaser, the movie hints a seemingly light-hearted and humorous yet poignant story about immigration and how migrating to First World countries remains one of the top aspirations for the youth. The teaser starts on a sinister note, with a group of people being led by SRK trying to cross the border, while an assailant aims his gun at them. The scene then cuts to a Sikh family in Amritsar. The members are shown to be in a heated argument about immigration. One of the younger members ends up promising his grandmother that he will never think about immigrating to London. In the next scenes, SRK's character Hardy is introduced. He is shown to be participating in a wrestling competition, wooing his ladylove Manu ( Taapsee Pannu ), and requesting an immigration official to help his family migrate to London. About ‘Dunki’ The third SRK-starrer in 2023, ‘Dunki’ marks the first collaboration between two Bollywood heavyweights, Khan and Rajkumar Hirani. The social comedy is a satire about illegal immigration. Aside from Khan and Pannu, the movie will also star Boman Irani, a staple in Hirani movies. It will also include cameos by Vicky Kaushal and Diya Mirza. The movie will hit the big screens on December 22. It will clash with Telugu star Prabhas's action drama 'Saalar'. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on khan shah rukh khan rajkumar hirani bollywood taapsee pannu Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? 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2024-11-02 | ABC News | Migrants in cities across the US may need medical care. It's not that easy to find | All the chairs in the waiting room were filled by dozens of newly arrived migrants waiting to be seen by a Cook County health worker at a clinic in Chicago. Julio Figuera, 43, was among them. He didn’t want to talk much about traveling to Chicago from Venezuela, where a social, political and economic crisis has pushed millions into poverty and led 7 million to flee, Figuera and three of his kids included. But somewhere along the way, he’d gotten pneumonia. Figuera, who was living with hundreds of other asylum-seekers at O’Hare International Airport while waiting for more permanent shelter, returned for follow-up care at the county clinic. The stubborn cough came back, so he did, too. The staff checked his vitals, listened to his chest and gave him a hepatitis vaccine. “I rarely get sick,” he said. “It was the journey that got me sick.” Tens of thousands of migrants who’ve come to the United States are navigating a patchwork system to find treatment for new or chronic health concerns. Doctors across the country say it’s rare that migrants receive medical screenings or anything beyond care for medical emergencies when they arrive at the U.S.-Mexico border, and there’s no overarching national system to track the care, either. Migrants’ options dwindle or expand after that – depending on where they end up — with some cities guiding new arrivals into robust public health systems and others relying on emergency departments or volunteer doctors to treat otherwise preventable health issues. “You have these little islands of care. You have these little islands of shelter,” said Deliana Garcia, of the nonprofit Migrant Clinicians Network, which supported more than 1,000 migrants in need of medical care in the first 10 months of this year. “But how does anyone know what’s going on east to west or north to south?” More than 2 million people crossed the border illegally between October 2022 and September 2023, according to Border Patrol data. For the most part, doctors told The Associated Press, the migrants are healthy; they have to be to make the arduous journey. It’s the travel that can turn manageable health issues into emergencies. Because of that, public health leaders across the country — from New York to Los Angeles, Boston to Denver — say there’s high demand for care. And providing it is central to their organizations’ missions. “It’s so core to what we do that I don’t feel like anyone’s really hesitated around this is the right thing for the organization to do,” said Craig Williams, chief administrative officer of Cook County’s health system. “I don’t feel like over the last year that we’ve backed off from really anything else because of doing this initiative.” The work is not without a price: Roughly 14,500 migrants have visited the Cook County clinic this year, as many as 100 are picked up in vans from the shelters each day for immediate care, vaccinations and a foothold into the publichealth caresystem. The county spends about $2.2 million a month — or nearly $30 million since it opened the clinic about a year ago. New York City Health and Hospitals logged 29,000 migrant patient visits in the last fiscal year, which ended in mid-June. There, health workers have administered more than 40,000vaccinesand provide medical screenings for all new arrivals. Other cities are trying to manage as best they can, like Denver, where nearly 26,000 migrants have arrived within the last year. Dr. Steve Federico, a director at Denver Health, said the city’s process is inadequate. Migrants are asked by shelter staff if they need immediate medical attention. If they say yes, they’re either sent to an emergency room or connected by phone with a nurse through Denver Health, a public hospital and health organization. There are no basic health screenings, Federico said, which can increase the risk of infectious disease outbreaks among those living in shelters. In Chicago, one shelter saw a small outbreak of chickenpox. Without catching and treating illnesses early, Federico said, “Now everybody has it. And then if somebody is at increased risk, they’re going to get sicker.” Federico and city spokesperson Jon Ewing both said Denver is already strained for resources — given the need to shelter and feed migrants. Ewing said Denver is looking to enhance its medical screening process, but added that it’s not clear how much that will cost or whether there are enough resources to achieve it. Migrants face a lack of access to steady medical care in the U.S., as well as healthy food and stable housing. It can mean that someone with a chronic medical condition, like diabetes or hypertension, can end up in the hospital simply because they lost or ran out of their medications, or had them confiscated during their travels. Doctors said they’ve also seen migrant children with asthma who need new inhalers. “You have what were essentially healthy people put in really remarkable circumstances, where they are not able to survive thoroughly and then they come across (the border) in a really compromised state,” said Garcia, of the Migrant Clinicians Network. Some women are arriving far along in their pregnancies, and never had prenatal care. “We gave the first prenatal visit to a woman who was nine months pregnant just two weeks ago,” said Dr. Ted Long, senior vice president at New York City Health and Hospitals, where more than 300 healthy babies have been born to migrant mothers. Even when care is available, migrants can have a hard time getting it. Some avoid asking for help entirely out of fear of a large bill or longstanding distrust of the medical system. Dr. Stephanie Lee is the medical director of refugee resettlement and coordinator of the unaccompanied youth program at Penn State Health’s Family Practice Pediatrics Clinic. She said she sees many patients who don’t have health insurance or don’t know how to get it. One mother who'd been waiting on an asylum request for more than a year told Lee she was paying out of pocket because her family didn’t have insurance. “The process is so broken that you can’t even do anything,” Lee said. “They came in to see me just paying out of pocket because the kiddo needed a physical and needed to get checked before going to school.” The Migrant Clinicians Network, which has been connecting patients to health providers for 30 years, just received a $5 million grant from the National Institutes of Health. Its case workers keep in touch with migrants, doing things like setting up medical appointments, helping fill out applications for social services, taking people to appointments and figuring out payment options. They even keep in touch with a trusted family member in the migrant’s home country, in case they fall off the radar. “We have a lot of babies who are named after the people who work on our team,” said Garcia, who oversees the program. But that’s the best-case scenario. The shelter system in Massachusetts is so full that the governor brought in the National Guard in August to assist. Dr. Fiona Danaher and her colleagues often cannot find migrants when she needs to follow up because they don’t have a U.S. phone number. “We see situations even in migrants who are just moving around between shelter locations in the greater Boston area where they get completely lost to follow up,” said Danaher, a primary care pediatrician in the Mass General Brigham health system. “And then the wheel gets reinvented and the same tests get done.” She encourages her colleagues to give patients a physical copy of everything that was done on their visit: vaccines administered, medications prescribed, benefit programs applied for. That way, they can simply hand it to whoever sees them next — like a critical game of telephone. There’s “a lot of low hanging fruit” when it comes to caring for migrant patients, she said, and a “very old-school level of note passing” is “an important investment to make.” ___ Associated Press writers Sophia Tareen in Chicago and Jesse Bedayn in Denver contributed to this report. Shastri reported from Milwaukee. ___ The Associated Press Health and Science Department receives support from the Robert Wood Johnson Foundation. The AP is solely responsible for all content. |
2024-11-02 | The Times of India | Sensex rises! But these stocks are down 5% or more on BSE | Getty Images MACD is known for signaling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. NEW DELHI: Several stocks plunged in excess of 5 per cent in Mumbai trading on Thursday even as equity benchmark BSE Sensex traded 451.29 points up at 64042.62 amid brisk buying in frontline bluechip counters. On the BSE, Nihar Info Glob(down 12.87 per cent), Danube Industries L(down 9.96 per cent), Fraser & Company(down 8.71 per cent), Alacrity Sec(down 8.16 per cent) and Jetmall Spices(down 8.00 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 43 stocks traded in the green, while 7 stocks traded in the red. The Nifty index was trading 137.35 points up at 19126.5. On the BSE, Advance Petro, Taaza International, Max Estates, 7NR Retail Ltd. and IndiaNivesh Ltd hit their fresh 52-week lows, while Starlog Enterprises, Cupid Ltd, JK Tyre, RateGain Travel Tech and KDDL Ltd touched their fresh 52-week highs. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Stocks plunged news Stocks plunged updates Stocks over 5 Stocks over 5 updates smallcap Stocks fall over 5 Stocks Plunged over 5 Stocks fall over 5 (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | ETF Daily News | QuoteMedia (OTCMKTS:QMCI) and NextPlay Technologies (NASDAQ:NXTP) Head to Head Comparison | NextPlay Technologies (NASDAQ:NXTP–Get Free Report) and QuoteMedia (OTCMKTS:QMCI–Get Free Report) are both small-cap consumer discretionary companies, but which is the better investment? We will contrast the two businesses based on the strength of their risk, profitability, valuation, dividends, earnings, institutional ownership and analyst recommendations. 3.3% of NextPlay Technologies shares are held by institutional investors. Comparatively, 8.2% of QuoteMedia shares are held by institutional investors. 24.5% of NextPlay Technologies shares are held by insiders. Comparatively, 47.1% of QuoteMedia shares are held by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock will outperform the market over the long term. This is a summary of current ratings for NextPlay Technologies and QuoteMedia, as reported by MarketBeat.com. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold Forever NextPlay Technologies has a beta of 2.15, meaning that its stock price is 115% more volatile than the S&P 500. Comparatively, QuoteMedia has a beta of 0.53, meaning that its stock price is 47% less volatile than the S&P 500. This table compares NextPlay Technologies and QuoteMedia’s gross revenue, earnings per share (EPS) and valuation. QuoteMedia has higher revenue and earnings than NextPlay Technologies. This table compares NextPlay Technologies and QuoteMedia’s net margins, return on equity and return on assets. QuoteMedia beats NextPlay Technologies on 7 of the 9 factors compared between the two stocks. (Get Free Report) NextPlay Technologies, Inc., a technology solutions company, provides games, in-game advertising, digital asset products and services, connected TV, and travel booking services to consumers and corporations in the United States, Puerto Rico, Europe, and Thailand. The company operates through three segments: Media, FinTech, and Travel. The Media segment provides HotPlay games studio, a game development studio that develops a range of casual games; HotPlay redemption mobile application, a digital wallet that is used to collect the HotPlay IGA rewards; HotPlay In game advertising and rewards platform, that enable advertisements and rewards to be inserted in game; goPlay platform, a gamification platform for users to compete against each other through tournaments and challenges, as well as a reward platform that rewards users for their continued loyalty and continuous game; and Zappware, a TV as a Service platform, which includes media source ingest, encoding and transcoding, packaging, protection, delivery, playback, and analytics that provide telco operators for their digital media processing, as well as a client side set top box and smart TV middleware platform, associated application framework and corresponding, and supporting content management system. The FinTech segment engages in the development of NextFinTech Platform, an integrated digital financial platform, which offers mobile banking, investments into alternative assets, and insurance to businesses and individuals. The Travel segment offers booking solutions for business and leisure; and travel technology solutions comprising alternative lodging rental properties under NextTrip ConNextions brand. The company was incorporated in 2005 and is based in Sunrise, Florida. (Get Free Report) QuoteMedia, Inc. provides financial data, market research information, analytics, news feeds, and financial software solutions to online brokerages, banks, clearing firms, financial service companies, media portals, and public corporations worldwide. It collects, aggregates, and delivers delayed and real-time financial data content through the Internet. The company also offers market information and services, including streaming stock market data feeds, research and analysis information, content applications, portfolio management systems, software products, corporate investor relations provisioning, news services, mobile apps, and custom development. In addition, its data feeds coverage includes equities, options, futures, commodities, currencies, mutual funds, ETFs, and indices. Further, the company provides financial data delivery application products and components comprising quote modules, charts, market movers, news, watch lists, tickers, market summaries, option chains, filings, investor relations solutions, fundamentals, screeners, and others; and QMod, a web delivery system for delivering market data content to Web platforms. Additionally, it offers portfolio managements systems, including Quotestream Desktop and Mobile, a Web-delivered, embedded application providing real-time, tick-by-tick, streaming market quotes and research information; Quotestream Professional that offers low-latency tick-by-tick data, customizable screens, advanced charting, comprehensive technical analysis, news, and research data for financial services professionals; Web Portfolio Manager; and Quotestream Connect, which delivers real time data feeds to individual users to power third party applications. The company was incorporated in 1999 and is headquartered in Fountain Hills, Arizona. |
2024-11-02 | The Times of India | Stock market update: Stocks that hit 52-week highs on NSE | Analysts see 15,900 to continue to pose as the immediate resistance. NEW DELHI: Shares of Cupid Ltd, Kapston Facilities, KDDL Ltd, RateGain Travel Tech and JK Tyre, hit their fresh 52-week highs at 10:24AM(IST)on NSE. Benchmark NSE Nifty index rose 131.55 points to 19120.7 amid buying in frontline bluechip stocks. However, stocks such as Cantabil Retail, Max Estates, Winsome Yarns, Compuage Infocom and Wonder Fibromats, touched their fresh 52-week low. Overall, 43 shares traded in the green in Nifty50 index, while 6 traded in the red. In the Nifty 50 index, Britannia, IndusInd Bank, Coal India Ltd, SBI and UPL were among top gainers, while Hero MotoCorp, Tech Mahindra, Cipla, Nestle India and HUL traded in the red. The BSE Sensex was trading 447.91 points up at 64039.24 at 10:24AM(IST). Traders were seen piling up positions in Telecommunications, Term Lending Institutions, Cables, Industrial Equipment and Airlines sectors, while selling was visible in Agro Processing, Construction, Apparels, Leather and IT - Hardware sectors. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on 52 week high stocks nse 52 week high 52 week high stocks today nse stocks update NSE updates today (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Stock market update: Nifty IT index advances 0.84% in an upbeat market | Shutterstock.com Agarwal said the global economy is showing clear signs of recovery. The second wave of Covid-19 is ebbing in India with total active cases at less than 20 per cent of May highs. NEW DELHI: The Nifty IT index traded positive around 10:04AM(IST)on Thursday in an upbeat market. MphasiS Ltd.(up 1.21 per cent), LTIMindtree Ltd.(up 1.2 per cent), HCL Technologies Ltd.(up 1.09 per cent), Infosys Ltd.(up 1.05 per cent) and Tata Consultancy Services Ltd.(up 1.03 per cent) were among the top gainers. Tech Mahindra Ltd.(down 0.4 per cent) were the top losers on the index. The Nifty IT index was up 0.84 per cent at 30598.25 at the time of writing this report. Benchmark NSE Nifty50 index was up 151.8 points at 19140.95, while the BSE Sensex was up 528.16 points at 64119.49. Among the 50 stocks in the Nifty index, 44 were trading in the green, while 5 were in the red. Shares of Vodafone Idea, Tata Steel, JP Power, REC and IOB were among the most traded shares on the NSE. Shares of Kapston Facilities, Arvind Ltd, Cupid Ltd, JK Tyre and RateGain Travel Tech hit their fresh 52-week highs in today's trade, while Cantabil Retail, Max Estates, MT Educare, Winsome Yarns and SEL Manufact hit fresh 52-week lows in trade. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Indices Indices stocks Indices news Indices updates stock market indices Global market indices nifty indices (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Stock market update: Nifty Auto index advances 0.53% in an upbeat market | Agencies India 10-year bond yield rose 0.37 per cent to 6 after trading in 5.99-6.01 range. NEW DELHI: The Nifty Auto index traded positive around 10:29AM(IST)on Thursday in an upbeat market. Tube Investments of India Ltd.(up 2.24 per cent), Ashok Leyland Ltd.(up 1.42 per cent), Tata Motors Ltd.(up 0.66 per cent), Samvardhana Motherson International Ltd.(up 0.65 per cent) and Maruti Suzuki India Ltd.(up 0.64 per cent) were among the top gainers. Hero MotoCorp Ltd.(down 0.72 per cent) and Balkrishna Industries Ltd.(down 0.03 per cent) were the top losers on the index. The Nifty Auto index was up 0.53 per cent at 15918.95 at the time of writing this report. Benchmark NSE Nifty50 index was up 134.8 points at 19123.95, while the BSE Sensex was up 452.08 points at 64043.41. Among the 50 stocks in the Nifty index, 43 were trading in the green, while 7 were in the red. Shares of Vodafone Idea, Tata Steel, JP Power, REC and Indian Oil Corp. were among the most traded shares on the NSE. Shares of Cupid Ltd, Kapston Facilities, JK Tyre, KDDL Ltd and RateGain Travel Tech hit their fresh 52-week highs in today's trade, while Cantabil Retail, Max Estates, Winsome Yarns, Compuage Infocom and Wonder Fibromats hit fresh 52-week lows in trade. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Indices Indices stocks Indices news Indices updates stock market indices Global market indices nifty indices (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Stock market update: Nifty Pharma index advances 0.99% in an upbeat market | Reuters Investors should therefore use dips towards 15,200-15,400 to their advantage to accumulate quality largecaps and midcaps. NEW DELHI: The Nifty Pharma index traded positive around 11:00AM(IST)on Thursday in an upbeat market. Lupin Ltd.(up 3.99 per cent), Biocon Ltd.(up 1.89 per cent), Alkem Laboratories Ltd.(up 1.7 per cent), Laurus Labs Ltd.(up 1.53 per cent) and Granules India Ltd.(up 1.49 per cent) were among the top gainers. Sanofi India Ltd.(down 0.65 per cent) and Gland Pharma Ltd.(down 0.58 per cent) were the top losers on the index. The Nifty Pharma index was up 0.99 per cent at 14881.3 at the time of writing this report. Benchmark NSE Nifty50 index was up 124.75 points at 19113.9, while the BSE Sensex was up 413.61 points at 64004.94. Among the 50 stocks in the Nifty index, 43 were trading in the green, while 7 were in the red. Shares of Vodafone Idea, JP Power, Tata Steel, Indian Oil Corp. and REC were among the most traded shares on the NSE. Shares of Cupid Ltd, JK Tyre, Kapston Facilities, Arvind Ltd and RateGain Travel Tech hit their fresh 52-week highs in today's trade, while Cantabil Retail, Godha Cabcon & Insul, Shree Ram Proteins, Winsome Yarns and Bannari Amman hit fresh 52-week lows in trade. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Indices Indices stocks Indices news Indices updates stock market indices Global market indices nifty indices (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Stock market update: Stocks that hit 52-week lows on NSE in today's trade | Getty Images NEW DELHI: Cantabil Retail, Godha Cabcon & Insul, Orient Bell, Winsome Yarns and InfoBeans Tech and others were among the stocks that touched their 52-week lows in today's trade. Domestic benchmark index NSE Nifty ended 144.1 points up at 19133.25, while the BSE Sensex closed 489.57 points up at 64080.9. On the other hand, PTC Financial, JP Associates, Maheshwari Logistics, Mittal Life Style and Cupid Ltd stocks hit their fresh 52-week highs today. In the Nifty 50 index, Britannia, Hindalco, IndusInd Bank, Apollo Hospital and Eicher Motors were among the top gainers on the NSE in the today's trade. Meanwhile, Hero MotoCorp, Tech Mahindra, Bajaj Auto, Bajaj Finance and ONGC were among the top losers of the day. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on 52 week high stocks nse 52 week high 52 week high stocks today nse stocks update NSE updates today (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | ESAF Small Finance Bank IPO opens on Friday. What GMP signals ahead of subscription? | ETMarkets.com INSIGHTS
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NSE BSE Nuvama Wealth Management Ltd. PEER COMPANIES Explore Now The initial public offer (IPO) of ESAF Small Finance Bank will open for subscription on November 2 and close on November 7. The company has fixed a price band of Rs 57-60 for the public offer. Ahead of the issue opening, the company's shares are commanding a premium of Rs 9 in the unlisted market. The anchor investors' allocation will be done later today. The Rs 463-crore IPO includes a fresh equity issue of Rs 391 crore and an offer for sale (OFS) of Rs 72 crore. Investors can bid for a minimum of 250 shares and in multiples thereafter. Under the OFS, promoter selling shareholder ESAF Financial Holdings will offload a stake worth Rs 49 crore and other selling shareholders PNB MetLife and Bajaj Allianz Life make up for the remaining OFS portion. About 50% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 35% for retail investors. The proceeds from the fresh issue will be used towards augmenting the Bank’s Tier– I capital base to meet its future capital requirements. As a small finance bank, ESAF requires at least 75% of its adjusted net bank credit to be allocated to priority sectors. Their business model revolves around responsible banking principles, offering customer-centric products and services through innovative technology applications. ESAF SFB's asset products include micro loans, retail loans, MSME loans, loans to financial institutions, and agricultural loans. As of March 2023, 62.84% of the lender's gross advances were directed towards customers in rural and semi-urban areas, and 71.71% of their banking outlets were located in these regions. Between FY21-23, the Bank's assets under management (AUM) grew to Rs 16,331, with a CAGR of 39.22%, the highest among their peers according to the CRISIL report. ICICI Securities, DAM Capital Advisors, and Nuvama Wealth Management are the book-running lead managers and Link Intime India is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on esaf small finance bank ipo esaf sfb ipo esaf small finance bank shares esaf small finance bank ipo news esaf ipo nuvama wealth management pnb (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Zee Entertainment Enterprises, Shriram Finance, 5 more stocks cross 50-day SMA | ANI Investors seeking opportunities in the midcap segment often turn to technical indicators like the 50-day Simple Moving Average (SMA) for insights into potential stock trends. On November 1, several midcap stocks displayed an encouraging sign as they surged above their 50-day SMA, hinting at possible bullish momentum. Let's explore the performance of these stocks. (Data Source: StockEdge) 1. The Phoenix Mills 50-Day SMA: 1828.32 | Closing Price: 1894.8 2. AIA Engineering 50-Day SMA: 3554.82 | Closing Price: 3679.35 3. Relaxo Footwears 50-Day SMA: 913.2 | Closing Price: 936.6 4. Zee Entertainment Enterprises 50-Day SMA: 263.62 | Closing Price: 267.7 5. Sundram Fasteners 50-Day SMA: 1261.08 | Closing Price: 1277.25 6. Dixon Technologies (India) 50-Day SMA: 5139.27 | Closing Price: 5181.3 7. Shriram Finance 50-Day SMA: 1886.98 | Closing Price: 1902.25 (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on midcap stocks the phoenix mills aia engineering relaxo footwears zee entertainment enterprises sundram fasteners dixon technologies shriram transport finance zee entertainment enterprises (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | ESAF SFB mobilises Rs 135 crore from anchor investors | ETMarkets.com ESAF Small Finance Bank has raised Rs 135.15 crore from 11 anchor investors led by ACM Global Fund VCC, Edelweiss Tokio Life Insurance Company and Kotak Mahindra Life Insurance Company a day ahead of the bank's Rs 463 crore initial public offer (IPO). ESAF has allocated a little over 2.25 crore equity shares to anchor investors including Edelweiss Tokio Life Insurance Company, ICICI Prudential Life Insurance and SBI General Insurance at an allocation price of Rs 60, the bank informed stock exchanges. ESAF, a microfinance institution-turned bank, has fixed a price band of Rs 57-60 per share for its IPO, which will open for retail subscription Friday. An anchor investor is a qualified institutional buyer (QIB) who submits a bid for a minimum Rs 1 crore. The others who put their bet on ESAF are Founders Collective Fund, Ananta Capital Ventures Fund, Astorne Capital VCC, BNP Paribas Arbitrage, Copthall Mauritius Investment and Alchemie Ventures Fund. The Thrissur-headquartered small finance bank allocated shares worth Rs 20 crore each to ACM Global Fund VCC, Edelweiss Life and Kotak Mahindra Life Insurance Company. Edelweiss Life acquired those shares through its four schemes. ICICI Prudential Life, SBI General Insurance, Founders Collective Fund and Ananta Capital Ventures have put in Rs 11 crore each. The bank will issue fresh shares worth Rs 390.1 crore in the IPO while three existing investors including ESAF Financial Holdings will pare their stakes through the offer for sale (OFS) window. The size of OFS would be Rs 72.3 crore. The IPO will remain open for subscription till November 7. ESAF Financial Holdings is one of the promoters of the bank besides managing director K Paul Thomas. PNB Metlife India Insurance Company and Bajaj Allianz Life Insurance Company are other selling shareholders. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on esaf sfb fund raise sbi edelweiss kotak mahindra esaf small finance bank esaf sfb esaf sfb ipo ipo news esaf sfb ipo update pnb (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | Marketscreener.com | Better Launches Better Insurance to Provide Online Insurance Experience for American Homeowners | Better Home & Finance Holding Company (NASDAQ:BETR, BETRW), the leading digital homeownership company and the first fintech lender to achieve $100B in funded loans, today announced the launch of Better Insurance, the first end-to-end, white labeled solution that allows customers to purchase homeowners insurance through a fully online experience. Better Insurance is the latest innovation available through the company’s insurance arm, Better Cover, a full service digital insurance agency dedicated to providing a seamless and transparent insurance shopping experience across a wide range of offerings. “Insurance is a key component of the homebuying process that comes with its own unique set of risks and challenges. At Better, we are focused on leveraging technology to make products available that can reduce pain points across all facets of the homebuying experience, and insurance is no exception,” said Vishal Garg, CEO & Founder of Better. “As a public company, we are more motivated than ever to continue addressing timely issues for homeowners through our robust product offerings, and the Better Cover team is leading the charge with the launch of a more seamless, consumer-first insurance product.” With homeowners insurance options dwindling due to premium increases and limited availability, Better Insurance is pleased to introduce a fully customizable digital experience that allows customers to build a policy that fits their unique needs and situation. Better Insurance was created in collaboration with Sure, a global insurance technology leader that unlocks the potential of digital insurance, and Toggle®, a member of the Farmers Insurance®family, which provides digital home, renters, and auto insurance solutions designed for modern consumers. Sure managed the end-to-end configuration and APIs to enable Better to seamlessly integrate its cutting-edge embedded insurance infrastructure technology into Better Insurance, while Toggle provided the underwriting and insurance expertise to design and build the product. “We’re excited to partner with Better to provide homebuyers with a frictionless, personalized insurance solution during this difficult time in the market,” said Wayne Slavin, CEO & Co-Founder of Sure. “At Sure, our mission is to unlock the potential of digital insurance, and partnering with a leading digital homeownership company like Better is a natural fit to expand our reach and provide consumers with seamless access to insurance at a time when they need it most.” Better Insurance is currently available in Arizona, Oregon, and Illinois, with plans to expand to additional states in the coming months. The platform is the latest innovation from Better Cover, the company’s full service digital insurance agency, which offers a full range of products from top carriers at the lowest prices across other areas including auto, life, and more. About Better Home & Finance Holding Company Since 2017, Better Home & Finance Holding Company (NASDAQ: BETR) has leveraged its industry-leading technology platform, Tinman™, to fund more than $100 billion in mortgage volume. Tinman™ allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates and close their loan in as little as three weeks. Better’s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage loans. Better launched its “One-Day Mortgage” program in January 2023, which allows eligible customers to “go from click to Commitment Letter” all within 24 hours. From 2019-2022, Better completed approximately $98 billion in mortgage volume and $39 billion in coverage written through its insurance arm, Better Cover. Better was named Best Online Mortgage Lender by Forbes and Best Mortgage Lender for Affordability by WSJ in 2023, and ranked #1 on LinkedIn’s Top Startups List for 2021 and 2020, #1 on Fortune’s Best Small and Medium Workplaces in New York, #15 on CNBC’s Disruptor 50 2020 list, and was listed on Forbes FinTech 50 for 2020. Better serves customers in all 50 US states and the United Kingdom. For more information, follow @betterdotcom. About Sure Sure is the global insurance technology leader that unlocks the potential of digital insurance. Global brands and market-leading insurance carriers from the Fortune 500 build and launch sophisticated embedded insurance products on Sure's SaaS infrastructure to distribute, service, and scale digital insurance. Sure's insurance expertise combined with its technology increases revenue streams and accelerates market growth while revolutionizing the customer experience. Visit sureapp.com and follow us on LinkedIn and Twitter. About Toggle® Toggle is a new kind of insurance company backed by the stability of Farmers®, with over 90 years of experience delivering best in class service and claims handling. Founded in 2018, Toggle is reimagining the insurance industry by creating unique products and embedded experiences for today's modern consumers and brands. Toggle Insurance Company offers fully digital insurance solutions and provides customers and brand partners simple, affordable, and highly customizable products to fit their needs. For more information, visitwww.gettoggle.com. View source version on businesswire.com:https://www.businesswire.com/news/home/20231102245384/en/ |
2024-11-02 | GlobeNewswire | CFO Barbara Plucnar Jensen to leave Tryg A/S. Allan Kragh Thaysen has been appointed CFO and member of the Executive Board | Barbara Plucnar Jensen, Chief Financial Officer (CFO) and member of the Executive Board, will leave Tryg A/S by mutual agreement. Effective November 2, 2023, Allan Kragh Thaysen (46), Tryg’s SVP of Group Finance for the past five years, has been appointed as the new CFO and as a member of Tryg’s Executive Board. Barbara Plucnar Jensen has been part of Tryg’s executive management since 2019. Her unique skills within corporate finance have been instrumental during the acquisition and financing of RSA’s Scandinavian activities and the share issue that followed. Group CEO Johan Kirstein Brammer expressed his appreciation of Barbara’s contributions during a decisive time in the history of the Tryg Group. ”Barbara has made a significant impact on the Group that we have become. She has advanced our compliance and governance practices, driven the anchoring of ESG across the business, and not least played an essential role in transforming the Group into Scandinavia’s largest non-life insurance company. Her experience within corporate finance and M&A has been a valuable asset throughout this process. As the integration of the recently acquired businesses draws to an end, the enlarged Group is now entering a new phase with a renewed focus on optimizing our insurance operations. This calls for a different CFO profile.” Barbara Plucnar Jensen says: ”I am proud to have contributed to the transformation that Tryg has undergone in the past 4 years – becoming Scandinavia’s largest non-life insurer. The assignment I was hired for has been successfully completed, and the time has come for Tryg to start a new chapter with a new CFO. The timing is right and I will now take the opportunity to start planning the next steps in my career.” An internal successor, Allan Kragh Thaysen, has been chosen to assume the position as Group CFO. Allan brings with him 18 years of experience in the insurance industry and has reported to Barbara Plucnar Jensen for the past five years as SVP of Group Finance. He has worked closely with the Executive Board and played an integral part in the acquisition of RSA’s Scandinavian businesses. Group CEO Johan Kirstein Brammer elaborates: ”I am proud to see that, once again, we can benefit from a strong focus on succession planning. Allan’s talent and potential has been widely recognized in the organization for a long time. We are pleased that we have been able to appoint yet another internal candidate for a position of this importance. Allan is a skilled leader and a leading light in his field of expertise. The combination of Allan’s professional skills and solid experience within insurance – both inside and outside of Tryg Group – makes him the most suitable candidate for the job in both short and long term.” The Executive Board of Tryg A/S now consists of Chief Executive Officer Johan Kirstein Brammer, Chief Financial Officer Allan Kragh Thaysen, Chief Operational Officer Lars Bonde, Chief Commercial Officer Alexandra Bastkær Winther, and Chief Technical Officer Mikael Kärrsten. About Allan Kragh Thaysen Allan Kragh Thaysen (46) has an HD in Accounting and an MSc in Business Economics and Auditing from Copenhagen Business School. He will bring to his role as CFO many years of experience in the financial sector and within non-life insurance. Allan started his career as an accountant at Deloitte from 1998-2005, after which he joined the Norwegian company Gjensidige, where he became CFO for the Danish and Swedish portion of the business from 2010 to 2018 before coming to Tryg. For the past 5 years he has delivered strong results in his position as SVP of Group Finance and played an integral part in the acquisition of RSA’s Scandinavian businesses, Trygg-Hansa and Codan Norway. Financial targets for 2024 All financial targets for 2024 are unchanged including the insurance service result between DKK 7.2 and 7.6bn and a Combined ratio target at or below 82. Attachment |
2024-11-02 | The Times of India | Sun Pharma, Coforge, 5 other stocks surpass 100-day SMA | Agencies OI change from the previous day on November 1: 0.9%Change in stock price: 2.5% In the world of finance, keen investors are always on the lookout for indicators that signal potential growth in the stock market. The 100-day Simple Moving Average (SMA) is one such key metric that provides insights into a stock's medium-term performance. On November 1, several major stocks surged above their 100-day SMA , signaling potential bullish trends. Let's explore the performance of these stocks. (Data Source: StockEdge) 1. Indus Towers 100-Day SMA: 174.01 | Closing Price: 180.6 2. Relaxo Footwears 100-Day SMA: 917.38 | Closing Price: 936.6 3. Olectra Greentech 100-Day SMA: 1143.54 | Closing Price: 1164.6 4. Sun Pharmaceutical Industries 100-Day SMA: 1099.76 | Closing Price: 1116.2 5. Coforge (NSE: COFORGE) 100-Day SMA: 4989.69 | Closing Price on November 1: 5026.6 6. Cholamandalam Investment and Finance Company 100-Day SMA: 1141.85 | Closing Price: 1149 7. Fortis Healthcare 100-Day SMA: 325.78 | Closing Price: 327.3 8. Route Mobile (NSE: ROUTE) 100-Day SMA: 1553.25 | Closing Price: 1557.15 9. Metropolis Healthcare 100-Day SMA: 1415.34 | Closing Price: 1416.75 (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times ) Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on sma route mobile fortis healthcare etmarkets whatsapp cholamandalam investment and finance company economic times (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | Marketscreener.com | CFO Barbara Plucnar Jensen to leave Tryg A/S. Allan Kragh Thaysen has been appointed CFO and member of the Executive Board | Barbara Plucnar Jensen, Chief Financial Officer (CFO) and member of the Executive Board, will leave Tryg A/S by mutual agreement. Effective November 2, 2023, Allan Kragh Thaysen (46), Tryg’s SVP of Group Finance for the past five years, has been appointed as the new CFO and as a member of Tryg’s Executive Board. Barbara Plucnar Jensen has been part of Tryg’s executive management since 2019. Her unique skills within corporate finance have been instrumental during the acquisition and financing of RSA’s Scandinavian activities and the share issue that followed. Group CEO Johan Kirstein Brammer expressed his appreciation of Barbara’s contributions during a decisive time in the history of the Tryg Group. ”Barbara has made a significant impact on the Group that we have become. She has advanced our compliance and governance practices, driven the anchoring of ESG across the business, and not least played an essential role in transforming the Group into Scandinavia’s largest non-life insurance company. Her experience within corporate finance and M&A has been a valuable asset throughout this process. As the integration of the recently acquired businesses draws to an end, the enlarged Group is now entering a new phase with a renewed focus on optimizing our insurance operations. This calls for a different CFO profile.” Barbara Plucnar Jensen says: ”I am proud to have contributed to the transformation that Tryg has undergone in the past 4 years – becoming Scandinavia’s largest non-life insurer. The assignment I was hired for has been successfully completed, and the time has come for Tryg to start a new chapter with a new CFO. The timing is right and I will now take the opportunity to start planning the next steps in my career.” An internal successor, Allan Kragh Thaysen, has been chosen to assume the position as Group CFO. Allan brings with him 18 years of experience in the insurance industry and has reported to Barbara Plucnar Jensen for the past five years as SVP of Group Finance. He has worked closely with the Executive Board and played an integral part in the acquisition of RSA’s Scandinavian businesses. Group CEO Johan Kirstein Brammer elaborates: ”I am proud to see that, once again, we can benefit from a strong focus on succession planning. Allan’s talent and potential has been widely recognized in the organization for a long time. We are pleased that we have been able to appoint yet another internal candidate for a position of this importance. Allan is a skilled leader and a leading light in his field of expertise. The combination of Allan’s professional skills and solid experience within insurance – both inside and outside of Tryg Group – makes him the most suitable candidate for the job in both short and long term.” The Executive Board of Tryg A/S now consists of Chief Executive Officer Johan Kirstein Brammer, Chief Financial Officer Allan Kragh Thaysen, Chief Operational Officer Lars Bonde, Chief Commercial Officer Alexandra Bastkær Winther, and Chief Technical Officer Mikael Kärrsten. About Allan Kragh Thaysen Allan Kragh Thaysen (46) has an HD in Accounting and an MSc in Business Economics and Auditing from Copenhagen Business School. He will bring to his role as CFO many years of experience in the financial sector and within non-life insurance. Allan started his career as an accountant at Deloitte from 1998-2005, after which he joined the Norwegian company Gjensidige, where he became CFO for the Danish and Swedish portion of the business from 2010 to 2018 before coming to Tryg. For the past 5 years he has delivered strong results in his position as SVP of Group Finance and played an integral part in the acquisition of RSA’s Scandinavian businesses, Trygg-Hansa and Codan Norway. Financial targets for 2024 All financial targets for 2024 are unchanged including the insurance service result between DKK 7.2 and 7.6bn and a Combined ratio target at or below 82. Attachment |
2024-11-02 | The Times of India | IFB Industries Q2 Results: Co reports 11% drop in net profit on soft demand | ETMarkets.com Indian consumer goods maker IFB Industries posted nearly an 11% drop in second-quarter profit on Thursday, hurt by reduced demand for its home appliances. The company's consolidated net profit fell to 215.3 million rupees ($2.59 million) for the three months ended Sept. 30 from a profit of 241.2 million rupees a year earlier. Analysts described the September quarter as a seasonally weak quarter for consumer durables businesses such as IFB Industries. The overall demand remained weak as consumers restricted their spending, the analysts had said earlier. Rising competition in the sector also exerted pricing pressure on the company. IFB's revenue from operations fell 1.5% to 11.01 billion rupees, dented by a near-3% drop in its home appliances vertical, its biggest segment which contributed about 78% to the total. Kolkata, West Bengal-based IFB Industries makes a range of home appliances products, including washing machines and air conditioners. The company's shares settled 0.5% higher ahead of the results. The stock rose nearly 11% during the September quarter. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on organization names ifb ifb industries bengaluru sohini goswami kashish tandon (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Vedanta shares gain 0.53% as Sensex rises | Getty Images Shares of the Vedanta Ltd . traded at Rs 224.8 on BSE at 11:52AM (IST) on Thursday, up 0.53 per cent. The stock quoted a 52-week low price of Rs 207.85 and a high of Rs 340.75. Earlier in the day, the stock saw a gap up opening. At the prevailing price, the stock traded at 9.52 times its trailing 12-month EPS of Rs 23.65 per share and 2.59 times its book value, as per BSE data. A total of 109,515 shares changed hands on the counter till 11:52AM (IST). The stock commands a market value of Rs 83692.9 crore and is part of the Diversified industry. The scrip has been an underperformer , down 24.31 per cent in the past one year in comparison with a 10.83 per cent gain in Sensex . During the day, the stock moved between Rs 226.95 and Rs 224.35. Promoter/FII Holding Promoters held 0.0 per cent in the company as of 30-Sep-2023. FII and MF ownership in Vedanta Ltd . stood at 7.82 per cent and 0.83 per cent, respectively. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on sesa goa ltd sesa goa ltd. vedanta vedanta limited Vedanta Ltd Vedanta Share Price sesa goa ltd sesa goa ltd. vedanta vedanta limited (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | I see Nifty range breaking today, 19,250-19,300 on the upside: Sanjiv Bhasin | ETMarkets.com Related 21,000 by December 31 very much on the card; 5 stocks to buy on dips: Sanjiv Bhasin This Diwali is going to be sparkling and it will be led by Reliance: Sanjiv Bhasin Sticky SIP investments likely to drive domestic institutional flows into equities: Union AMC Sanjiv Bhasin , Director, IIFL Securities , says “the Fed was extremely dovish and Powell has indicated now that even though there is no chance of a rate cut, there is no chance of a rate hike. And if yields trade 10 bps lower, below 4.65 the dollar will weaken and there will be a flurry of ETF flows back into emerging markets.” Pretty much a long expected lines, the Fed event out of the way, it is a pause once again and seems like we are in for a snapping the range which we have been stuck in for the last three days and finally see some meaningful uptick? Yes, that is what we were suggesting yesterday that bond yields have peaked and most of the event discounting was taking place with the markets having been on a weak note. I think the Fed was extremely dovish and Powell has indicated now that even though there is no chance of a rate cut, there is no chance of a rate hike. And if yields trade 10 bps lower, below 4.65 the dollar will weaken and there will be flurry of ETF flows back into emerging markets. We have seen that in Japan. That is a developed market but I am very optimistic given that the euro zone yesterday recorded the lowest inflation in the last two years. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Marketing Officer Programme Visit Indian School of Business ISB Chief Technology Officer Visit IIM Lucknow IIML Chief Operations Officer Programme Visit So banks, credit lenders and the whole proxy of credit expansion because of the festive season should do extremely well. I am looking at this range breaking today itself, that 19250-19300 on the upside and then we chart our way towards a very sparkling Diwali by next week. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on sanjiv bhasin sanjiv bhasin portfolio bond yields sparkling Diwali Nifty range breaking bond yields peaked fed meeting expert view Stock Market et now (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Fed very happy with combination of strong growth, low unemployment & inflation coming down: Ed Yardeni | ETMarkets.com Related I see Nifty range breaking today, 19,250-19,300 on the upside: Sanjiv Bhasin Fed not thinking about rate cuts right now at all: Jerome Powell Ed Yardeni of Yardeni Research , says “the Fed has the perception that at this level of interest rates, it is restrictive enough to bring inflation down and it has been coming down without causing a recession. So they are trying to get to that Goldilocks scenario and so far so good.” The Fed held rates steady this time around and clearly when it comes to the assessment for economic growth, there has been a bit of an upgrade. Your takeaways? Yes, the third quarter strength is not something that is going to be sustainable. I do not think we are going to see something close to 5% in the fourth quarter. Things are going to simmer down but it could be 2.5% to 3% particularly if productivity makes a comeback. Here in the US, we will get productivity for the third quarter in the morning and that could be surprisingly strong. But the Fed has the perception that at this level of interest rates, it is restrictive enough to bring inflation down and it has been coming down without causing a recession. So they are trying to get to that Goldilocks scenario and so far so good. So far so good. Are you surprised that there was no mention of the US GDP growth or the US GDP data. The fact is the US economy is doing much better than what everybody anticipated a quarter ago and significantly better than what everybody anticipated at the beginning of the year? Well, Powell actually did not get specifically focused on GDP but he did mention a couple of times that they are very satisfied with the economy doing better than expected, indeed he said doing better than anyone expected, that nevertheless inflation has been continuing to moderate. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Operations Officer Programme Visit IIM Lucknow IIML Chief Marketing Officer Programme Visit IIM Lucknow IIML Chief Executive Officer Programme Visit They are actually very happy with this combination of strong growth with low unemployment with inflation coming down. They are having a lot of discussions at the Fed about whether growth necessarily has to be inflationary. So they are like all the rest of us. They are data dependent. They are watching how things unfold. And so far they are going pretty well. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on Goldilocks scenario ed yardeni low unemployment inflation down strong growth us fed yardeni research expert view Stock Market et now (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | BEL shares rise 1.24% as Sensex climbs | Getty Images India 10-year bond yield fell 0.41 per cent to 5.89 after trading in 5.87-5.91 range Shares of the Bharat Electronics Ltd. traded at Rs 134.05 on BSE at 12:43PM (IST) on Thursday, up 1.24 per cent from previous close. The stock quoted a 52-week low price of Rs 87.0 and a high of Rs 147.2. Earlier, the stock saw a gap up opening in the morning. A total of 99,657 lakh shares changed hands on the counter till 12:43PM (IST). The stock of Bharat Electronics Ltd. commands a market value of Rs 97987.59 crore. The stock traded at a price-to-earning (P/E) multiple of 29.49, while the price-to-book value ratio stood at 5.14. Return on equity (ROE) was at 21.53 per cent, according to exchange data. In the BSE500 pack, 393 stocks traded in the green, while 108 stocks were in the red. Promotor Holding Promoters held 51.14 per cent in the Bharat Electronics Ltd . as of 30-Sep-2023 while foreign and domestic institutional investors owned 17.19 per cent and 24.18 per cent, respectively. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on bel bharat electronics bharat electronics ltd bharat electronics ltd. BEL Share Price bel bharat electronics bharat electronics ltd bharat electronics ltd. BEL (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Share market update: Most active stocks of the day in terms of traded value | Shutterstock.com India 10-year bond yield jumped 0.38 per cent to 6.03 after trading in 6.01 - 6.04 range. NEW DELHI: HDFC Bank(Rs. 3329.19 crore), REC(Rs. 1772.86 crore), RIL(Rs. 1223.33 crore), CDSL(Rs. 897.91 crore), ICICI Bank(Rs. 895.53 crore), Vodafone Idea(Rs. 859.40 crore), Tata Steel(Rs. 846.53 crore), Power Finance Corp.(Rs. 813.64 crore), Adani Power(Rs. 799.26 crore) and IndusInd Bank(Rs. 661.46 crore) were among the most traded securities on the National Stock Exchange in Thursday's session. The NSE Nifty index ended the session 144.1 points up at 19133.25, while BSE Sensex rose 489.57 points to 64080.9. In the Nifty index, Britannia Industries Ltd.(up 2.96 per cent), Hindalco Industries Ltd.(up 2.49 per cent), IndusInd Bank Ltd.(up 2.00 per cent), Apollo Hospitals Enterprise Ltd.(up 1.89 per cent) and Eicher Motors Ltd.(up 1.71 per cent) stood among the top gainers. On the other hand, Hero MotoCorp Ltd.(down 1.30 per cent), Tech Mahindra Ltd.(down 0.85 per cent), Bajaj Auto Ltd.(down 0.49 per cent), Bajaj Finance Ltd.(down 0.31 per cent) and Oil And Natural Gas Corporation Ltd.(down 0.27 per cent) were among the top losers of the day. Connect with Experts - Wealth creation made easy Print Edition Friday, 03 Nov, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Economy & Companies Learn more about our print edition More WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on active stocks most active stocks active stocks today HDFC Bank share price REC share price RIL share price CDSL share price ICICI Bank share price (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Havells India shares gain 1.29% as Sensex rises | Getty Images India 10-year bond yield rose 0.05 per cent to 6.03 after trading in 6.02-6.04 range. Shares of Havells India Ltd. traded 1.29 per cent higher in Thursday's session at 12:38PM (IST). The stock opened at Rs 1251.35 and has touched an intraday high and low of Rs 1261.0 and Rs 1241.6, respectively, during the session so far. The stock quoted a 52-week high of Rs 1466.0 and a 52-week low of 1092.0. About 5,944 shares changed hands on the counter so far. Benchmark Nifty50 was up 96.45 points at 19085.6, while the BSE Sensex traded 297.0 points higher at 63888.33 at the time of writing of this report. In the Nifty pack, 44 stocks traded the day in the green, while 6 were in the red. Key Financials For the quarter ended 30-Sep-2023, the company reported consolidated sales of Rs 3952.81 crore, down 19.31 per cent from the previous quarter's Rs 4898.64 crore and down 6.17 per cent from the year-ago quarter. The company reported net profit of Rs 249.08 crore for the latest quarter. Promoter Holdings Promoters held 59.43 per cent stake in the company as of 30-Sep-2023, while FIIs held 24.19 per cent and MFs 3.47 per cent. Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1278.88 on November 02, while the 50-DMA was at Rs 1361.67. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on havells havells india havells india ltd havells india ltd. havells ltd Havells India Share Price havells havells india havells india ltd havells india ltd. (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | ICICI Lombard shares rise 0.76 per cent in Thursday's trading session | Getty Images India 10-year bond yield fell 0.41 per cent to 5.89 after trading in 5.87-5.91 range Shares of ICICI Lombard General Insurance Company Ltd . rose 0.76 per cent to Rs 1367.25 in Thursday's trade as of 12:32PM (IST) even as the benchmark Nifty ruled at 19087.55, up 98.4 points. The scrip had closed at Rs 1356.9 in the previous session. The stock quoted a 52-week low of Rs 1049.1 and a high of Rs 1422.85. The company quoted a market-cap of Rs 67204.39 crore on the BSE . On BSE, 14,551 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 38.25 times its trailing 12-month EPS of Rs 35.76 per share and 5.03 times its book value. The return on equity (ROE) stood at Rs 16.55. Key Financials For the quarter ended 30-Sep-2023, ICICI Lombard General Insurance Company Ltd . reported consolidated sales of Rs 5271.06 crore, up 12.04 per cent from the same quarter a year ago. The company reported 2.25 per cent YoY de-growth in net profit at Rs 577.27 crore for the latest quarter. Technical indicators The relative strength index (RSI) of the stock stood at Thursday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on icici lombard icici lombard gen. icici lombard general insurance company ICICI Lombard General Insurance Company Ltd ICICI Lombard Share Price icici lombard icici lombard gen. icici lombard general insurance company ICICI Lombard General Insurance Company Ltd ICICI Lombard (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | Till next Fed policy comes in December, oil price will be the greater trigger for FII flows: Sunil Subramaniam | ETMarkets.com Sunil Subramaniam , MD & CEO, Sundaram Mutual , says “it is the oil price trend which drives FII behaviour in India. So far, if you see over September and October, the two months, we have had Rs 35,000-40,000 crore of FII outflows on the fear of oil rising. Now, most recent trends indicate that oil is stabilizing. I would say that for the next few weeks, that is a greater trigger. Till the next Fed policy comes through in December, oil price will be the greater trigger to watch from an Indian FII flow perspective.” The Fed policy done with. Clearly global markets are breathing a sigh of relief, as is India as well. But does the recovery look sustainable to you on the back of all the data points that we have seen so far? Well, the recovery would sustain if the Fed's commentary on the future outlook comes through. Essentially future data points would determine whether this could come through. I think the other thing is that the Israel-Hamas conflict has not led to that kind of volatility, which otherwise it should have because oil prices have been reasonably stable, though initial expectations that oil would go up because of the conflict and the fact that Iran, which is a key exporter of oil, is a part of the conflict. But that has not happened because I think the market has absorbed that. So, on any anticipated supply, there may be hitches. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Executive Officer Programme Visit IIM Lucknow IIML Chief Marketing Officer Programme Visit IIM Lucknow IIML Chief Operations Officer Programme Visit The other thing is, the US is in talks with Venezuela to acquire oil. So if Venezuelan production comes into the market, that would again be a dampener for oil. Yes, the Fed announcement, which was read by the market as no rate hike in December, was obviously welcome and equity markets do not like rate hikes. The absence of a rate hike would turn out to be a positive. But from India's perspective, over and above that, it is the oil price trend which drives FII behaviour in India. So far, if you see over September and October, the two months, we have had Rs 35,000-40,000 crore of FII outflows on the fear of oil rising. Now, most recent trends indicate that oil is stabilizing. I would say that for the next few weeks, that is a greater trigger. Till the next Fed policy comes through in December, oil price will be the greater trigger to watch from an Indian FII flow perspective. What is your take on the FMCG and consumption basket? I think the current quarters numbers have not lived up to the expectations, but the commentary from them has been positive in terms of reviving rural demand. I would attribute this to the fact that in the period that we saw vegetable prices shoot up and all that, obviously those higher prices translated into higher rural income. So that's one good thing. You Might Also Like: Fed very happy with combination of strong growth, low unemployment & inflation coming down: Ed Yardeni The second aspect here is that the coming season is the election season. Generally governments in power and the opposition both tend to spend a lot of money into the market during the election run up. So FMCG and consumer goods would get a spill over of that kind of demand. I expect the demand story around the consumer goods basket to remain fairly healthy right up to the parliamentary election. That augurs well. Though the numbers have not been great, I would still say that it is a good point to accumulate consumer stocks at this point in time, given the outlook for the next six months. You Might Also Like: 2008 financial crisis may not be reprised in US or India but play out in some other countries: Maneesh Dangi We are in a relief rally after Fed respite: Hemang Jani Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on FII flows oil price sunil subramaniam fii sundaram mutual oil price trend FII behaviour expert view Stock Market et now (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | Despite some one-offs and geopolitical pressure, Thomas Cook India will maintain a decent profitability trend: Madhavan Menon | ETMarkets.com Madhavan Menon , MD, Thomas Cook India , says “even if I look at the forward bookings for the upcoming quarter and the next quarter after that, we are seeing a 32% rise in terms of demand as reflected in our forward bookings for travel services which is the leisure business. So, I am fairly comfortable saying that this trend should continue for a couple of more quarters, at least in terms of strong growth.” It has been a healthy growth overall. You have reported profit as well this quarter. Do you see the traction continuing? Do you believe that the revenue growth will accelerate in the coming quarters? Yes, we did report a decent set of results yesterday. My expectation is that we will see continued growth in terms of the recovery process. You will appreciate during the pandemic we went all the way down to zero and have recovered from there. This recovery process continues. But part of the reason is the fact that we are seeing stronger demand. Even if I look at the forward bookings for the upcoming quarter and the next quarter after that, we are seeing a 32% rise in terms of demand as reflected in our forward bookings for travel services which is the leisure business. So, I am fairly comfortable saying that this trend should continue for a couple of more quarters, at least in terms of strong growth. Can you give us a sense of corporate travel because that is the big, in a sense, ledge for Thomas Cook? When you say forward booking, are you referring to corporate travel as well? No. I am referring to the packaged holidays and let me answer your question around corporate travel as well as add something else to that. Corporate travel actually led the recovery for us because as we came out of the pandemic, corporate travelling started. We also saw several Indian corporates start trading with us and so we have seen a growth in corporate travel. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website Indian School of Business ISB Chief Digital Officer Visit IIM Lucknow IIML Chief Executive Officer Programme Visit IIM Lucknow IIML Chief Marketing Officer Programme Visit f I just look at the recovery in terms of volumes from pre-Covid to now, it is 135%. So, we have actually exceeded 2019 numbers. The other aspect of travel which has really grown dramatically has been in the incentive business. You are aware that Thomas Cook handled a large number of the pre-G20 meetings that India had between January and August this year. Additionally, we have done two Khelo India . We are currently doing the national games in Goa. So, we have seen our incentive business also grow very strongly, that has been in about a 12-month period, but the corporate travel business has grown over the last 18 to 24 months. You Might Also Like: 2008 financial crisis may not be reprised in US or India but play out in some other countries: Maneesh Dangi I am surprised to see you on TV. I was of the view that you should be in Wankhede Stadium wearing an Indian jersey, maybe in a Thomas Cook box with your family. Support for India, right? I appreciate your compliment. Unfortunately, I have not been to a single match yet. But we have seen growth across various companies. If you look at Sterling, there has been strong growth. If you look at our destination management businesses, which were slower to recover are recovering. If you look at DEI, which is our imaging business based in the UAE, but across Southeast Asia. Despite the UAE being in an off season, we have actually seen strong growth there also primarily because domestic travel within China has come back in a big way. I want to specifically understand what everybody seems to be talking about right now. You referred to G20 and Khelo India. You have done two seasons and there is a World Cup. How much of your revenue this year has come from events which may not occur next year? Also next year, there are elections. A lot of decision making may not happen from April to June or July. If I look at my MICE volumes, the Khelo India and this thing will be barely 15%. So I am not too worried about that in terms of profitability or the volumes because we know that corporates have scaled up their incentives programmes. While the elections will affect some of the government related business and G20 is obviously not coming back, my expectation is that corporates will continue to trade because they are also witnessing strong recoveries. There is a trend of growth that is directly related to the incentive business and the corporate travel business. I must add that we are seeing new additions in a manner that we have not seen pre-Covid in terms of Indian corporates travelling with us. Lastly, what is important is that the pandemic taught us a few lessons where we significantly re-engineered our cost structure. Even today, we are 30% down from pre-Covid in terms of costs and we have added technology. So we have digitized a lot of our processes, which gives us productivity benefits, which we hope to retain over a period of time. My expectation is that despite some of these one-offs and geopolitical pressure, we will maintain a decent trend in terms of profitability. What is the outlook when it comes to your margins on the back of operating leverage? What kind of margin outlook are you looking at down the line? I expect our margins will be stable from here on. If you look at our EBITDA margins, be it at a Thomas Cook level for the half year, it was about 9.89% for the half year and 10.1 for the quarter. It is all very stable. I expect that these margins will continue because we are very focused on margins. And we want to ensure that if we are going to drive the productivity benefits to the bottom line, margins have to maintain their current levels and I am fairly comfortable with that. You Might Also Like: We are in a relief rally after Fed respite: Hemang Jani Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Thomas Cook India thomas cook madhavan menon packaged holidays corporate travel profitability trend khelo india thomas cook expert view Stock Market (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-11-02 | The Times of India | Share market update: Most active stocks on D-Street today in terms of volume | Shutterstock.com Agarwal said the global economy is showing clear signs of recovery. The second wave of Covid-19 is ebbing in India with total active cases at less than 20 per cent of May highs. NEW DELHI: Vodafone Idea(number of shares traded: 4.63 crore), JP Power(number of shares traded: 1.25 crore), Orient Green Pwr(number of shares traded: 1.19 crore), YES Bank(number of shares traded: 0.58 crore), RattanIndia Power (number of shares traded: 0.47 crore), NCL Research(number of shares traded: 0.38 crore), Reliance Power(number of shares traded: 0.34 crore), JP Associates(number of shares traded: 0.32 crore), Indian Oil Corp.(number of shares traded: 0.31 crore) and Suzlon Energy(number of shares traded: 0.29 crore) were among the most traded securities on the National Stock Exchange at 10:39AM in Thursday's session. The NSE Nifty index was trading 132.25 points up at 19121.4, while BSE Sensex was up 438.17 points at 64029.5 at the time of writing this report. In the Nifty index, Britannia Industries Ltd.(up 2.38 per cent), IndusInd Bank Ltd.(up 1.99 per cent), Adani Enterprises Ltd.(up 1.85 per cent), Coal India Ltd.(up 1.66 per cent) and Apollo Hospitals Enterprise Ltd.(up 1.39 per cent) were among the top gainers. While Hero MotoCorp Ltd.(down 0.89 per cent), Tech Mahindra Ltd.(down 0.64 per cent), Nestle India Ltd.(down 0.28 per cent), Cipla Ltd.(down 0.25 per cent) and Hindustan Unilever Ltd.(down 0.22 per cent) were among the top losers in the index. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on share market share market update stock market trending stocks today Vodafone Idea share price JP Power share price Tata Steel share price JP Associates share price Indian Oil Corp. share price (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | SBI Card shares drop 0.22% as Sensex rises | Getty Images Shares of the SBI Cards and Payment Services Ltd. traded at Rs 743.3 on BSE at 01:08PM (IST) on Thursday, down 0.22 per cent. The stock quoted a 52-week low price of Rs 690.9 and a high of Rs 932.35. Earlier in the day, the stock saw a gap up opening. At the prevailing price, the stock traded at 30.57 times its trailing 12-month EPS of Rs 24.32 per share and 7.12 times its book value, as per BSE data. A total of 64,012 shares changed hands on the counter till 01:08PM (IST). The stock commands a market value of Rs 70385.03 crore and is part of the Credit Card & Allied Services industry. The scrip has been an underperformer , down 11.04 per cent in the past one year in comparison with a 5.3 per cent gain in Sensex . During the day, the stock moved between Rs 754.8 and Rs 741.95. Promoter/FII Holding Promoters held 0.0 per cent in the company as of 30-Sep-2023. FII and MF ownership in SBI Cards and Payment Services Ltd. stood at 9.09 per cent and 11.73 per cent, respectively. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on sbi card sbi cards sbi cards and pay sbi cards and payment services SBI Card Share Price sbi card sbi cards sbi cards and pay sbi cards and payment services SBI Card (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | GAIL shares rise 2.46% as Sensex climbs | Reuters On an immediate basis, 15,770/52,500 and 15,850/52,700 levels would be major hurdles. Shares of the GAIL (India) Ltd. traded at Rs 120.6 on BSE at 10:30AM (IST) on Thursday, up 2.46 per cent from previous close. The scrip quoted a 52-week low price of Rs 87.9 and a high of Rs 132.45. Earlier, the stock saw a gap up opening in the morning. A total of 427,030 lakh shares changed hands on the counter till 10:30AM (IST). The stock of GAIL (India) Ltd. commands a market value of Rs 79229.95 crore. The stock traded at a price-to-earning (P/E) multiple of 14.99, while the price-to-book value ratio stood at 1.07. Return on equity (ROE) was at 8.64 per cent, according to exchange data. In the BSE500 pack, 452 stocks traded in the green, while 49 stocks were in the red. Promotor Holding Promoters held 51.91 per cent in the GAIL (India) Ltd. as of 30-Sep-2023 while foreign portfolio investors and domestic institutional investors owned 14.76 per cent and 19.12 per cent, respectively. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on gail gail (india) gail (india) ltd gail (india) ltd. gail india gail india ltd gail ltd GAIL Share Price gail gail (india) (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Share market update: Most active stocks of the day in terms of total traded value | Analysts see 15,900 to continue to pose as the immediate resistance. NEW DELHI: REC(Rs. 992.53 crore), CDSL(Rs. 584.59 crore), RIL(Rs. 498.63 crore), Tata Steel(Rs. 463.58 crore), HDFC Bank(Rs. 446.20 crore), Power Finance Corp.(Rs. 440.52 crore), JK Tyre(Rs. 392.87 crore), Indian Oil Corp.(Rs. 353.97 crore), Guj Mineral Dev.(Rs. 308.67 crore) and Vodafone Idea(Rs. 294.76 crore) were among the most traded securities on the National Stock Exchange at 11:15AM in Thursday's session. The NSE Nifty index traded 136.8 points up at 19125.95, while BSE Sensex was up 448.56 points at 64039.89 as of 11:15AM(IST)on November 02. In the Nifty index, Britannia Industries Ltd.(up 2.68 per cent), Adani Enterprises Ltd.(up 2.20 per cent), IndusInd Bank Ltd.(up 1.98 per cent), Apollo Hospitals Enterprise Ltd.(up 1.50 per cent) and Coal India Ltd.(up 1.40 per cent) were among the top gainers. On the other hand, Hero MotoCorp Ltd.(down 0.70 per cent), Bajaj Auto Ltd.(down 0.41 per cent), Tech Mahindra Ltd.(down 0.21 per cent), Hindustan Unilever Ltd.(down 0.17 per cent) and Oil And Natural Gas Corporation Ltd.(down 0.08 per cent) were among the top losers. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on active stocks most active stocks active stocks today REC share price CDSL share price RIL share price Tata Steel share price HDFC Bank share price (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | ETF Daily News | Aptitude Software Group (LON:APTD) Reaches New 12-Month Low at $233.00 | Aptitude Software Group plc (LON:APTD–Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 233 ($2.84) and last traded at GBX 233.50 ($2.84), with a volume of 18028 shares traded. The stock had previously closed at GBX 239.50 ($2.91). The firm has a market capitalization of £134.75 million, a price-to-earnings ratio of 6,000.00 and a beta of 0.38. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 20.69. The firm’s 50 day moving average is GBX 272.45 and its 200 day moving average is GBX 308.50. (Get Free Report) Aptitude Software Group plc, together with its subsidiaries, provides finance digitalization and subscription management software in the United Kingdom and internationally. It provides subscription management and billing; revenue management; and Aptitude Accounting Hub, centralizing and automating finance, accounting and reporting processes, as well as aptitude insurance. |
2024-11-02 | Marketscreener.com | JMDC : FY2023 Q2 Financial Briefing Material | FY2023 Q2 Financial Briefing Material November 2, 2023 JMDC Inc. INDEX 2 Introduction At the end of June this year, we sold a subsidiary in the Dispensing Pharmacy Support Segment. Please be aware of the followi ng in advance to understand JMDC Group's growth rate correctly. Outline FY2021 FY2022 ～Q1 FY2023 Q2～→Do not includecontributions to financial results by transferred subsidiaries 3 Note: Above "Unike" represents Unike Software Research and the transferred company within the Unike Software Research Group. Section 1 Summary 4 FY2023 Q2:Performance Highlights Both revenue and EBITDA have remained steady. In addition, key KPIs are expanding favorably. Consolidated Revenue (Million JPY) Y-o-Y 13,746 +14％ (Excluding Unike's performance) 13,130 +21％ Consolidated EBITDA (Million JPY) Y-o-Y 3,303 +12％ (Excluding Unike's performance) 3,251 +15％ Healthcare-Big Data Revenue Y-o-Y +24％ Tele-medicine Revenue Y-o-Y 遠隔医療調剤薬局支援 +12％ Number of People in Contracted Payer 14.93million people Number of Pep Up IDs 5.69million people Revenue of business for Industry +31％ * Comparison of September 2022 LTM and September 2023 LTM 5 Note: IFRS-based EBITDA: Operating profit + Depreciation and amortization costs ± Other profits and/or losses LTM: Last Twelve Months (the past 12 months from the latest quarter) Above "Unike" represents Unike Software Research and the transferred company within the Unike Software Research Group. [Reference]Business Segments of JMDC Group In Healthcare-Big Data Business, the expansions of data assets and business areas accelerated. Tele -medicine Business expanded steadily on the back of solid demand. Dispensing Pharmacy Support Business posted stable financial results. Healthcare-Big Data Business Outline For Industry Data utilization service for pharmaceutical companies, insurance companies, etc. For Payers and Individuals Data analysis for health insurance unions, provision of "Pep Up," an ICT product for health insurance union members, and services for local governments For Medical Service Providers Medicine DB, data analysis for medical institutions, management consulting/finance, web-based medical inquiries, system for attracting patients/taking reservations Summary of FY2023 H1 Tele-medicine Provision of remote diagnostic imaging service • Sustained solid demand and high profitability thanks to operational improvements. Dispensing Pharmacy Support Development/provision of receipt computer and electronic medication history for pharmacies • Business scale shrank due to a subsidiary transfer in the first quarter, but produced steady revenue • Faced tougher competition in a cloud-based electronic drug history system, etc. 6 FY2023 H1:Management Viewpoints In order to further deepen the understanding of shareholders, investors and other stakeholders, we will provide management viewpoints. Management Viewpoints Evaluation of FY2023 H1 performance Outlook for the Healthcare-Big Data Business in H2 Status of launching new businesses Perspectives on future business environment The effect of OMRON becoming the controlling shareholder on the business becoming JMDC's controlling shareholder will not change this. 7 accelerate our growth. (Refer to the Business Outlook section on page 38 and beyond.) Section 2 FY2023 Q2 Performance Report 8 FY2023 Q2:Summary of Consolidated Performance Major PL items are progressing well. In this Q2, there were some one -time expenses such as those related to TOB. (Unit: Million JPY) Revenue Operating profit (Rate) Profit before taxes (Rate) Profit attributable to owners of parent (Rate) EBITDA (Margin) FY2022 H1 FY2023 H1 Y-o-Y 12,060 13,746 +14% 2,207 3,602 +63% (18%) (26%) 2,234 3,615 +62% (19%) (26%) 1,444 2,662 +84% (12%) (19%) 2,956 3,303 +12% (25%) (24%) 9 Note: IFRS-based EBITDA: Operating profit + Depreciation and amortization costs ± Other profits and/or losses, EBITDA margin: EBITDA/Revenue [Reference]FY2023:Progress Against Full-Year Forecasts In Healthcare-Big Data business, business areas that are biased toward H2 in terms of business structure are expanding. In light of this, progress through H1 has been favorable. FY2023 H1 FY2023 Full-Year Forecasts FY2023 H1 (FY2022 H1) (Unit: Million JPY) Progress ratio Progress ratio Revenue 13,746 33,000 42% 44% 3,602 8,800 Operating profit 41% 37% (Rate) (26%) (27%) 3,615 8,750 Profit before taxes 41% 37% (Rate) (26%) (27%) Profit attributable to 2,662 6,500 41% 36% owners of parent (Rate) (19%) (20%) 3,303 9,750 EBITDA 34% 37% (Margin) (24%) (30%) 10 Note: IFRS-based EBITDA: Operating profit + Depreciation and amortization costs±Other profits and/or losses, EBITDA margin: EBITDA/Revenue Attachments Disclaimer JMDC Inc.published this content on02 November 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on02 November 2023 06:15:30 UTC. |
2024-11-02 | The Times of India | Chola Inv Finance shares up 0.59% as Nifty gains | Shutterstock.com India 10-year bond yield fell 0.34 per cent to 6.13 after trading in 6.13-6.16 range. NEW DELHI: Shares of Cholamandalam Investment & Finance Company Ltd. traded 0.59 per cent up in Thursday's trade at 11:21AM (IST). Around 9,121 shares changed hands on the counter. The stock opened at Rs 1154.95 and touched an intraday high and low of Rs 1166.7 and Rs 1143.05, respectively, in the session so far. The stock of Cholamandalam Investment & Finance Company Ltd. quoted a 52-week high of Rs 1284.45 and a 52-week low of Rs 658.0. As per BSE , the total market cap of the Cholamandalam Investment & Finance Company Ltd. stood at Rs 95077.37 crore at the time of writing this report. Key Financials The company reported consolidated net sales of Rs 4170.79 crore for the quarter ended 30-Jun-2023, up 8.77 per cent from previous quarter's Rs 3834.57 crore and up 49.17 per cent from the year-ago quarter's Rs 2795.91 crore. The net profit for latest quarter stood at Rs 709.94 crore, up 26.32 per cent from the corresponding quarter last year. Shareholding pattern As of 30-Sep-2023, DIIs held 16.67 per cent stake in the firm, while foreign institutional investors held 21.51 per cent and the promoters 51.28 per cent. Valuation ratio According to BSE data, the stock traded at a price-to-earnings multiple of 33.8 and a price-to-book ratio of 4.37. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business. Cholamandalam Investment & Finance Company Ltd. belongs to the NBFC - Diversified industry. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on chola inv finance cholamandalam cholamandalam invest cholamandalam investment cholamandalam investment & finance cholamandalam investment & finance company cholamandalam investment & finance company ltd cholamandalam investment & finance company ltd. cholamandalam investment and finance cholamandalam investment and finance company (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | Angel One to focus on inorganic growth; makes first acquisition through Dstreet Finance | Mumbai-based stock broking firm Angel One has acquired fintech startup Dstreet Finance for an undisclosed amount, as the company seeks to focus on inorganic growth to enhance its product offerings and bolster distribution. The deal, announced by Angel One on Wednesday, marks the first-ever tech acquisition for the 27-year-old brokerage firm which has been focusing on building in-house capabilities. Elevate Your Tech Prowess with High-Value Skill Courses Offering College Course Website Indian School of Business ISB Digital Transformation Visit IIM Kozhikode IIMK Advanced Data Science For Managers Visit Indian School of Business ISB Professional Certificate in Product Management Visit The development comes as the brokerage firm is looking to double down on its ‘fintech superapp’ play, and introduce more services, such as insurance and lending, on its platform amid competition from rival broking firms Zerodha and Groww . As a part of the deal, the founders of Bengaluru-based Dstreet Finance--Suresh Bavisetti and Paarth Dhar--will join Angel One to spearhead its content, user engagement and learning-related initiatives. They will also look at launching fresh assets under the Angel One brand. Dstreet’s 12-member team will also join Angel One. Dstreet, founded in 2021, was a gamification-led educational learning platform for those new to the stock market, and gained a customer base of 1 million users. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories “The customers who are participating in equity and capital markets have gotten much younger (who are keen to learn),” said Prateek Mehta, chief business officer of Angel One, told ET. “The average age of our customers is around 28 years. And as the stock market evolves, there is a constant need for learning. For all those learning states, there is a massive play of both content and engagement. This team will focus on these problems.” Mehta further explained that no assets have been absorbed as a part of the deal, with the acquisition largely to bring the Dstreet team onboard. "The integration of the Dstreet team is a strategic move towards enhancing our offerings for the next-generation clients,” said Dinesh Thakkar, chairman and managing director of Angel One, the country’s third largest broker. According to NSE data, Angel One had 4.8 million active users at the end of September 2023. Groww and Zerodha had 6.62 million and 6.4 million active users, respectively. Also read | Groww goes past Zerodha, becomes India's biggest stockbroker with 6.6 million active users Focus on inorganic bets Angel One’s acquisition strategy is focused on six distinct segments including enhancing manufacturing capabilities (for new financial products); creating new distribution channels; better wealthtech and service offerings for retail masses; creating adjacencies to core broking service such as algorithm, data modelling platforms, and to improve content and engagement with the audience. Earlier this year, Angel One had received in-principle approval from the Securities and Exchange Board of India for the asset management company (AMC). It is working towards launching consumer credit in the next three to four months and setting up an AMC in the next 10 months. Inorganic acquisitions will also help the broker launch newer solutions faster for its clients. “We don't want to build everything on our own because we feel through inorganic (acquisitions) we can accelerate our go-to-market and shorten our learning curves, while delivering value to our customers faster,” said Mehta. For its inorganic growth strategy, Angel One is also looking to leverage its profits. Mehta declined to say whether the broker has set aside capital for this or on how many acquisitions it is targeting. For the year ended March 31, 2023, Angel One reported total operating revenue of Rs 3,001.6 crore, with profit standing at Rs 890 crore. September quarter revenue from operations grew by 30% sequentially to Rs 1,048 crore, while net profit stood at Rs 304.5 crore. Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on angel one dstreet zerodha stock broking fintech startup fintech startup acquisition dstreet finance Groww Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Bletchley Declaration: Key takeaways from world’s first AI safety summit in UK Dedicated freight corridors put goods trains on the fast track. But will transportation costs drop? Recession or not? It is like a suspense thriller. The climax will decide the fate of global markets. IndiGo’s blues: Why engine troubles can send India’s biggest airline sputtering into turbulence. Quick, easy loan is an agent provocateur. Are unsecured loans vaulting to a contagion of defaults? ‘Jimny is not for volumes’: Away from the mass market, Maruti takes a road it never travelled before 1 2 3 View all Stories |
2024-11-02 | The Times of India | Stock market update: FMCG stocks up as market rises | Reuters Investors should therefore use dips towards 15,200-15,400 to their advantage to accumulate quality largecaps and midcaps. NEW DELHI: FMCG shares closed higher in the Thursday's session. Nakoda Group(up 10.00%), Prataap Snacks(up 3.85%), Britannia Industries(up 2.96%), Dabur India(up 2.57%), Tasty Bite Eatables(up 2.00%), Godrej Consumer Products(up 1.69%), Bajaj Consumer(up 1.69%), Zydus Wellness(up 1.63%), Colgate Palmolive(India)(up 1.61%) and Patanjali Foods(up 1.26%) stood among the top gainers. JHS Svendgaard Laboratories(down 3.46%), Hatsun Agro Product Ltd(down 2.26%), Jyothy Labs(down 0.82%), Gillette India(down 0.77%), Euro India Fresh Foods(down 0.71%), Umang Dairies(down 0.49%), Parag Milk(down 0.42%), Dodla Dairy(down 0.25%), Marico(down 0.16%) and Emami(down 0.08%) were among the top losers of the day. The NSE Nifty50 index ended 144.1 points up at 19133.25, while the 30-share BSE Sensex closed up 489.57 points at 64080.9. Britannia Industries Ltd.(up 2.95%), Hindalco Industries Ltd.(up 2.48%), IndusInd Bank Ltd.(up 1.99%), Apollo Hospitals Enterprise Ltd.(up 1.88%), Eicher Motors Ltd.(up 1.7%), UPL Ltd.(up 1.63%), Grasim Industries Ltd.(up 1.56%), Sun Pharmaceutical Industries Ltd.(up 1.49%), Tata Motors Ltd.(up 1.39%) and Tata Steel Ltd.(up 1.28%) stood among the top gainers in the Nifty pack. On the other hand, Hero MotoCorp Ltd.(down 1.3%), Tech Mahindra Ltd.(down 0.85%), Bajaj Auto Ltd.(down 0.48%), Bajaj Finance Ltd.(down 0.3%), Oil And Natural Gas Corporation Ltd.(down 0.26%), Dr. Reddy's Laboratories Ltd.(down 0.14%), HDFC Life Insurance Company Ltd.(down 0.12%), Adani Enterprises Ltd.(down 0.09%) and Divi's Laboratories Ltd.(down 0.07%) closed in the red. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Stock Market Sectors Sectors in stock Market India stock market sectors Global Stock Market Sectors S&P 500 Sectors S&P Sectors (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Stock market update: Power stocks up as market rises | Reuters Investors should therefore use dips towards 15,200-15,400 to their advantage to accumulate quality largecaps and midcaps. NEW DELHI: Power shares closed higher in the Thursday's session. DPSC(up 10.65%), Hitachi Energy India(up 7.63%), Jaiprakash Power Ventures(up 7.22%), SJVN(up 5.42%), PTC India(up 5.10%), Reliance Power(up 4.89%), NLC India(up 4.89%), Jyoti Structures(up 4.89%), Orient Green Power Company(up 4.71%) and JSW Energy(up 4.55%) stood among the top gainers. RTNPOWER(down 2.11%), Karma Energy(down 1.59%), Kalpataru Projects International(down 1.12%), KEC International(down 1.09%) and Voltamp Transformers(down 0.74%) were among the top losers of the day. The NSE Nifty50 index ended 144.1 points up at 19133.25, while the 30-share BSE Sensex closed up 489.57 points at 64080.9. Britannia Industries Ltd.(up 2.95%), Hindalco Industries Ltd.(up 2.48%), IndusInd Bank Ltd.(up 1.99%), Apollo Hospitals Enterprise Ltd.(up 1.88%), Eicher Motors Ltd.(up 1.7%), UPL Ltd.(up 1.63%), Grasim Industries Ltd.(up 1.56%), Sun Pharmaceutical Industries Ltd.(up 1.49%), Tata Motors Ltd.(up 1.39%) and Tata Steel Ltd.(up 1.28%) stood among the top gainers in the Nifty pack. On the other hand, Hero MotoCorp Ltd.(down 1.3%), Tech Mahindra Ltd.(down 0.85%), Bajaj Auto Ltd.(down 0.48%), Bajaj Finance Ltd.(down 0.3%), Oil And Natural Gas Corporation Ltd.(down 0.26%), Dr. Reddy's Laboratories Ltd.(down 0.14%), HDFC Life Insurance Company Ltd.(down 0.12%), Adani Enterprises Ltd.(down 0.09%) and Divi's Laboratories Ltd.(down 0.07%) closed in the red. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Stock Market Sectors Sectors in stock Market India stock market sectors Global Stock Market Sectors S&P 500 Sectors S&P Sectors (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Stock market update: Nifty Bank index advances 0.74% | Reuters Stocks in focus: RIL, Tata Motors, Infosys, IIFL Securities, Apollo Hospitals, Punjab National Bank, NBCC and more.. NEW DELHI: The Nifty Bank index closed on a positive note on Thursday. Shares of Bank of Baroda(up 2.25 per cent), IndusInd Bank Ltd.(up 1.99 per cent), Punjab National Bank(up 1.85 per cent), IDFC First Bank Ltd.(up 1.47 per cent) and Axis Bank Ltd.(up 1.14 per cent) ended the day as top gainers in the pack. On the other hand, Au Small Finance Bank Ltd.(down 0.28 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.74 per cent up at 43017.2. Benchmark NSE Nifty50 index ended up 144.1 points at 19133.25, while the BSE Sensex stood up 489.57 points at 64080.9. Among the 50 stocks in the Nifty index, 41 ended in the green, while 9 closed in the red. Shares of Vodafone Idea, JP Power, Reliance Power, YES Bank and Tata Steel were among the most traded shares on the NSE. Shares of PTC Financial, JP Associates, Maheshwari Logistics, Mittal Life Style and Cupid Ltd hit their fresh 52-week highs in today's trade, while Cantabil Retail, Godha Cabcon & Insul, Orient Bell, Winsome Yarns and InfoBeans Tech hit their fresh 52-week lows. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Indices Indices stocks Indices news Indices updates stock market indices Global market indices nifty indices (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Stock market update: Fertilisers stocks up as market rises | Getty Images India 10-year bond yield fell 0.41 per cent to 5.89 after trading in 5.87-5.91 range NEW DELHI: Fertilisers shares closed higher in the Thursday's session. Khaitan Chemicals & Fertilizers(up 5.63%), Agro Phos(up 2.23%), Sikko Industries(up 1.70%), Aries Agro(up 1.53%), ZUARIAGRO(up 0.95%), Coromandel International(up 0.86%), Gujarat Narmada Valley Fertilizers (up 0.80%), Rashtriya Chemicals & Fertilizers(up 0.67%), Madras Fertlizers(up 0.51%) and Rama Phosphates(up 0.27%) stood among the top gainers. Deepak Fertilizers & Petrochemicals(down 6.95%), Fertilizers & Chemicals Tranvancore(down 2.44%), Nagarjuna Fertilizers & Chem(down 1.82%), G S F C(down 1.34%), Bohra Industries(down 0.89%), Krishana Phoschem(down 0.85%), Paradeep Phosphates(down 0.47%), Mangalore Chemicals & Fertilizers(down 0.35%) and Madhya Bharat Agro Products(down 0.30%) were among the top losers of the day. The NSE Nifty50 index ended 144.1 points up at 19133.25, while the 30-share BSE Sensex closed up 489.57 points at 64080.9. Britannia Industries Ltd.(up 2.95%), Hindalco Industries Ltd.(up 2.48%), IndusInd Bank Ltd.(up 1.99%), Apollo Hospitals Enterprise Ltd.(up 1.88%), Eicher Motors Ltd.(up 1.7%), UPL Ltd.(up 1.63%), Grasim Industries Ltd.(up 1.56%), Sun Pharmaceutical Industries Ltd.(up 1.49%), Tata Motors Ltd.(up 1.39%) and Tata Steel Ltd.(up 1.28%) stood among the top gainers in the Nifty pack. On the other hand, Hero MotoCorp Ltd.(down 1.3%), Tech Mahindra Ltd.(down 0.85%), Bajaj Auto Ltd.(down 0.48%), Bajaj Finance Ltd.(down 0.3%), Oil And Natural Gas Corporation Ltd.(down 0.26%), Dr. Reddy's Laboratories Ltd.(down 0.14%), HDFC Life Insurance Company Ltd.(down 0.12%), Adani Enterprises Ltd.(down 0.09%) and Divi's Laboratories Ltd.(down 0.07%) closed in the red. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Stock Market Sectors Sectors in stock Market India stock market sectors Global Stock Market Sectors S&P 500 Sectors S&P Sectors (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Tesla shares overvalued but 2 bad days away from becoming a buy: Aswath Damodaran | AP NEW DELHI: Arguing that the post-Covid surge in Tesla 's revenues and profitability led to unrealistically high expectations, valuation guru Aswath Damodaran said the much-fancied stock is overvalued at $200 per share. "At $200 a share, Tesla looks overvalued, based upon my story, but it is two bad market days from becoming a buy. I have a limit buy at $180, with the recognition that it may never get there and that I have no margin of safety," Damodaran tweeted. A margin of safety, according to him, is a blunt instrument that is most useful when you are valuing mature companies where you face a luxury of riches. "Furthermore, as my January 2023 simulation of Tesla's value reveals, this is a company with more upside than downside, and that makes a fair-value investment one that I can live with. Put simply, the possibility of other businesses that Tesla can enter into adds optionality that I have not incorporated into my value, and that acts as icing on the cake," the finance professor who teaches at the Stern School of Business at NYU, wrote in a blog post. Tesla price cuts have led to a divide among Tesla bulls, with some pointing to it as the reason for Tesla's recent pricing travails and others viewing it as a masterstroke advancing on its mission of global domination. "Price cuts can, and often will, change the number of units sold, perhaps offsetting some of the downsides to price cut (tactical), make it more difficult for competitors to keep up or enter your business (strategic) and expand the potential for side or supplemental businesses to thrive (synergistic)," Damodaran said. Tesla shares closed 2.4% higher at $205.66 apiece on Nasdaq and have given about 67% return so far in the calendar year. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Aswath Damodaran Tesla shares Tesla Tesla share price Tesla news Elon Musk Aswath Damodaran news Aswath Damodaran on Tesla (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Aptus Value Housing Finance Q2 Results: PAT rises 11% YoY to Rs 119 crore | ETMarkets.com Its net profit was Rs 107 crore in the year-ago period. The Chennai-based lender's share price turned volatile after the release of the quarterly numbers. It fell to its intra-day low to Rs 282.15 only to jump to Rs 290.35 at the last minute of the trading session. The shares closed 1.5% higher at Rs 290.25 on BSE. Its total income rose 16.5% to Rs 276 crore. It opened 20 branches in the second quarter taking the network to 250 branches. Gross non-performing assets for the mortgage lender improved to 1.2% at the end of September while the portfolio at risk for over 30 days past due (DPD) was higher at 6% even after easing 51 basis point year-on-year. The company is well capitalised with a net worth of Rs 3,540 crore. "We have diligently maintained a healthy balance sheet liquidity of Rs 974 crore," the company said. It has an undrawn sanction of Rs 300 crore from the National Housing Bank and another Rs 290 crore from various banks. "Stay updated with Headlines that matter in just 2 minutes & under 90 words. Download TOI Shorts app to read the news in brief." Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on net profit total income Housing Finance PAT rises Aptus Value (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Breakout Stocks: How one should trade REC, PFC and Global Health on Friday | ETMarkets.com Indian market bounced back on Thursday after falling for 2 consecutive days. The S&P BSE Sensex rallied nearly 500 points while the Nifty50 closed above 19100 levels. Sectorally, buying was seen in realty, telecom, metal, and public sector stocks. Stocks that were in focus include names like REC which was up nearly 7%, Power Finance Corporation which rose more than 6% and Global Health which closed with gains of nearly 2%. All stocks hit fresh all-time highs. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Here's what analyst CA Bijay Kumar Sharma (SEBI RA, Regn No – INH000011282) had to say: REC REC stock has seen multiple breakouts. Traders who have invested at the volume breakout can keep trailing their positions. It is prudent to book out of the position. If the stock retreats, then investors can trail their stop loss at 258. The stock has gone to unchartered territory. Fresh entry will be suggested only if the stock stays above Rs 305 for at least the next 3 trading sessions. ETMarkets.com PFC PFC stock has seen multiple breakouts to enter into long positions and persons invested can keep trailing their positions. It will be prudent to book out of the position if reversal is seen or can trail their stop loss at Rs 229. The stock has gone to unchartered territory and now a fresh entry will be suggested only if the stock stays above Rs 261 for at least 3 trading sessions. ETMarkets.com Global Health Global Health stock has seen multiple breakouts to enter into long positions and persons invested can keep trailing their positions. It will be prudent to book out of the position if a reversal is seen or it fails to close above Rs 830 in the next 2 -3 days. The stock has gone into unchartered territory, so fresh entry will be suggested only if the stock stays above Rs 830 for at least 3 trading sessions. ETMarkets.com (Analyst Disclaimer: Neither me nor my clients hold any position in the stocks discussed above. The views given here are not any Buy/Sell recommendations and one should consult their financial advisor before taking any trade.) (Subscribe to ETMarkets WhatsApp channel ) (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) Connect with Experts - Wealth creation made easy Print Edition Thursday, 02 Nov, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Brands & Companies Learn more about our print edition More Octoberfest: Most Macro Indicators Enter Party Zone India’s goods and services tax (GST) revenue rose 13% in October to ₹1.72 lakh crore, the second highest monthly collection since the levy was rolled out in July 2017, riding robust festive demand and improved compliance. Big FMCG Bite Gives Teeth to Revival Recipe Global research firm Kantar said it is seeing the start of a turnaround in the fast-moving consumer goods (FMCG) sector, after demand for daily groceries and essentials increased 7.2% year-on-year in the September quarter. Apollo Bets Big on Pvt Credit Space in India Pivoting away from their swashbuckling playbook of big-bang buyouts, most marque PE funds are now embracing private credit as the cost of funds surges to their highest since 2008. Apollo’s private credit unit now manages more than $400 billion in AUM, four times the size of its buyout arm, which has been the linchpin of its business. In an exclusive interview with Swaraj Dhanjal and Arijit Barman in Mumbai during his first India trip, James C Zelter, co-president of the firm, talks about this mega shift in high finance. Read More News on rec share price sensex today nifty today breakout stocks pfc shares global health shares (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | The Times of India | Dollar tracks Treasury yields lower as Fed stays on hold | Reuters The dollar fell broadly on Thursday, tracking a slide in U.S. Treasury yields as markets grew more convinced the Federal Reserve was done with its aggressive monetary policy tightening cycle after it left rates unchanged. The Fed on Wednesday held interest rates steady as widely expected, as policymakers struggled to determine whether financial conditions may be sufficiently tight to control inflation. However, Fed Chair Jerome Powell acknowledged that a recent market-driven rise in Treasury bond yields, home mortgage rates and other financing costs could have their own impact on the economy as long as they persist. The decision lifted sentiment in Wall Street, which spilled over into the Asia day, giving a small boost to the risk-sensitive Australian and New Zealand dollars. The Aussie rose 0.5% to a three-week high of $0.6426, while the kiwi similarly jumped more than 0.5% to hit a two-week top of $0.58825. The dollar edged broadly lower alongside U.S. Treasury yields which touched multi-week lows in early Asia trade. [US/] "It seems to us that the FOMC is now in hold mode, albeit in a hawkish way, rather than simply on pause," said Wells Fargo chief economist Jay Bryson. "That is, we think the bar to further rate increases is higher now than it was a few months ago." The two-year U.S. Treasury yield, which typically reflects near-term interest rate expectations, slid to a nearly two-month low of 4.9250% on Thursday, while the benchmark 10-year yield fell to an over two-week low of 4.7070%. Against the dollar, the euro rose 0.18% to $1.0589. The U.S. dollar index fell 0.11% to 106.34. Traders also drew further conviction that U.S. rates could have peaked after data showed U.S. manufacturing contracted sharply in October, though separate data pointed to a still-resilient labour market, which is likely to see the Fed keeping rates at restrictive levels for longer. "We will likely need to see some labour market weakness before target inflation is reached," said Lon Erickson, portfolio manager at Thornburg Investment Management. "This could take some time to develop and is one reason we are likely to see higher rates for longer." Market pricing shows a nearly 15% chance that the Fed could begin cutting rates as early as next March, according to the CME FedWatch tool, compared with a roughly 10% chance a week ago. The move lower in the dollar brought some respite for the yen, though it remained on the weaker side of 150 per dollar. The Japanese currency last stood at 150.44 per dollar, having slid to a one-year low of 151.74 per dollar earlier in the week in the wake of the Bank of Japan's (BOJ) monetary policy decision. Investors were still struggling to digest the implications of the central bank's piecemeal tweak to its controversial bond yield control policy - a move that has sent Japan's bond market and currency reacting in divergence. "This almost feels like the end of the line for YCC, but the extent to which the BOJ will intervene in the JGB market should 10-year yields rise above 1% is as yet unclear," said Tom Kenny, senior international economist at ANZ. "We think the BOJ will be content to let longer duration yields move higher in an orderly manner and that intervention is likely to occur if moves are volatile." Elsewhere, sterling rose 0.35% to $1.2192 ahead of the Bank of England's rate decision later on Thursday, where expectations are for the central bank to keep rates on hold. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on rae wee treasury US economy dollar eyes fed (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-11-02 | Marketscreener.com | PT Bank Central Asia Tbk : Facilitating Indonesian SMEs to Export, BCA Collaborates with PT Indonesia Bisa Ekspor to Disburse KUR | Jakarta, 31 October 2023- As part of the company's efforts to foster the growth of MSMEs through export activities, PT Bank Central Asia Tbk (BCA) has established a strategic partnership with PT Indonesia Bisa Ekspor, a digital platform and community for young exporters. This partnership has been formed to provide opportunities for assisted exporters to access financing via BCA's working capital loans (KUR). The partnership agreement for financing MSME players in the export sector was signed by BCA SVP of Business Commercial & SME Tjoeng Haryanto, President Director of PT Indonesia Bisa Ekspor Julio Ekspor, and Director of PT Aman Cermat Cepat (KlikA2C) Bong Elysabet on Monday (30/10) in Jakarta. "In line with BCA's commitment to promoting the expansion of local product exports, we will make the KUR available to all MSME sectors. We firmly believe that by simplifying access to financing for assisted exporters, we can empower them to compete and successfully enter the global market," explained Tjoeng Haryanto. In order to stimulate the export growth of Indonesia's flagship products, BCA offers loans of up to Rp500 million at competitive interest rates, starting from 6% effective per annum. The program also offers other benefits, including the elimination of administration and provisioning fees, which enables assisted exporters to access more affordable financing. "Every year, our exporters are gaining more experience, which has opened up greater prospects for them to grow their businesses on the international level. The support provided by BCA, especially in terms of facilitating access to financing, has played a pivotal role in fueling their achievements," stated Julio Ekspor. One significant benefit of BCA's KUR is the quick and seamless application process, facilitated through their strategic partnership with KlikA2C, a channeling institution. This partnership simplifies the financing application process for exporters, enabling them to focus more effectively on expanding their businesses. BCA is firmly committed to promoting the expansion of local products and elevating national exports. Collaborating with Indonesia Bisa Ekspor represents our first step towards making a greater positive impact on exporters and the Indonesian economy as a whole. Through this initiative, BCA seeks to promote local businesses and demonstrate support for the Indonesian economy. "We are optimistic that the assisted exporters can compete in the global market. We will remain committed to supporting them in promoting Indonesia's flagship products on the international stage. This collaborative effort is expected to sustain the continuous growth of the Indonesian export industry, thereby strengthening Indonesia's position in the global export market," concluded Tjoeng. As a matter of information, BCA has actively supported MSMEs by implementing various initiatives. This includes export trade training, which was attended by 60 MSMEs in Yogyakarta and Semarang. Furthermore, BCA has successfully organized BCA UMKM Fest since 2021, with approximately 1,400 MSMEs participating to promote their flagship products. BCA and Indonesia Bisa Ekspor Team Up to Disburse KUR to Local Exporters- BCA Senior Vice President of Business Commercial & SME Division Tjoeng Haryanto (left) with President Director of PT Indonesia Bisa Ekspor (center) and Director of PT Aman Cermat Cepat (KlikA2C) Bong Elysabet, after signing the partnership agreement for the disbursement of working capital loans (KUR) to Indonesian MSMEs in the export sector on Monday (30/10). BCA offers competitive interest rate loans starting from 6% effective per annum, as well as the waiver of administrative and provisioning fees to support the growth of local product exports, enabling them to compete in the global market. ***** About PT Bank Central Asia Tbk (as of 30 September 2023) BCA is one of the leading commercial banks in Indonesia with the core business of transaction banking. BCA also offers a full range of financial services in consumer, SME, commercial and corporate segments. As of September 2023, BCA has the privilege of serving nearly 39 million customer accounts, processing around 81 million of daily transactions through a network of 1,252 branches; 18,705 ATMs as well as the 24-hour internet & mobile banking systems; supported by 24/7 Halo BCA contact center. BCA's presence is complemented by a number of subsidiaries focusing on vehicle financing, sharia banking, securities, general and life insurance, digital bank, remittance as well as venture capital business. BCA is committed to building lasting relationship with customers, putting people first, and making positive impact on society at large. With around 25,000 employees, BCA's vision is to be the bank of choice and a major pillar of the Indonesia economy. PT BANK CENTRAL ASIA TBK Group Corporate Communication and Social Responsibility - CSR Corporate Communication Alamat : Jl. MH Thamrin No. 1Menara BCA Lt. 22Jakarta Pusat 10310Telepon : (021) 2358-8000Fax : (021) 2358-8339E-mail :corcom_bca@bca.co.id Attachments Disclaimer PT Bank Central Asia Tbkpublished this content on02 November 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on02 November 2023 09:45:50 UTC. |
2024-11-02 | The Times of India | Rupee closes slightly higher, dollar demand from importers caps gain | iStock INSIGHTS
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NSE BSE Nuvama Wealth Management Ltd. PEER COMPANIES Explore Now The Indian rupee closed marginally higher on Thursday aided by a pullback in U.S. Treasury yields but dollar demand from importers, including local oil companies, curbed gains. The rupee closed at 83.2425 against the U.S. dollar, compared with its close at 83.28 in the previous session. The local unit fell to its lifetime low of 83.2950 on Wednesday but recovered to open at 83.2250 on Thursday as U.S. Treasury yields fell and the dollar softened after the Federal Reserve left rates unchanged. The dollar index was last quoted lower at 106.18 and the 10-year U.S. Treasury yield declined to 4.71% in Asia. But buoyant local dollar demand ate into the rupee's gains through the spot session, even as most of its Asian peers rallied. "Oil companies were buying dollars through much of the session," a foreign exchange trader at a state-run bank said. While the rupee had punctured through its previous lifetime low of 83.29 in the previous session, it's unlikely that the Reserve Bank of India will let the unit slip much further, the trader added. A wider trade deficit, elevated oil and gold prices and equity outflows are all contributing to strong local dollar demand, said Sajal Gupta, head of forex and commodities at Nuvama Wealth Management 's institutional desk. Despite the pressures, the RBI is likely to keep defending the unit, keeping it near its current levels, Gupta added. Hedging by importers and exporters on the dollar/rupee pair fell in October compared to the previous month, according to CCIL data. The hedging reduced as volatility expectations declined to multi-year lows in the wake of RBI's interventions to defend the rupee. Investors now await U.S. initial jobless claims due later in the day for cues on the health of the labour market in the world's largest economy. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on rupee rate today (rupee rate rupee usd rupee vs dollar rbi rupee news rupee price today rupee today) nuvama wealth management (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | Zurich Insurance to pick 51% stake in Kotak General Insurance for Rs 4,051 crore | ETMarkets.com Kotak Mahindra Bank on Thursday announced that it has entered into definitive agreement to sell 51% stake in its subsidiary Kotak Mahindra General Insurance to Zurich Insurance Company for about Rs 4,051 crore. The investment would be made through a combination of fresh growth capital and share purchase. Zurich will also acquire an additional stake of 19% within a period of three years from its initial acquisition. Zurich’s investment represents the single largest investment by a global strategic insurer in an Indian non-life insurer, the private sector lender said. "With Kotak Mahindra Group’s high-quality franchise and expertise in Indian financial services, and Zurich’s deep distribution experience and class-leading capabilities in retail and commercial insurance, we are confident this partnership can bring strong innovation, know-how, and excellent customer experiences to the Indian general insurance market," said Tulsi Naidu, CEO Asia Pacific, Zurich Insurance Company. Once Zurich acquires the 51% shareholding in the insurance company, it will cease to be a subsidiary of the bank. The proposed transaction values Kotak General Insurance at approximately Rs 7,943 crore on a post money valuation, subject to customary closing adjustments. The deal includes infusion of fresh growth capital of up to about Rs 1,609 crore in Kotak General Insurance. "Kotak Mahindra Group’s pan-India ‘phygital’ distribution presence and Zurich’s distinct global capabilities in digital assets, B2B and B2C formats has potential to create a transformational ‘digical’ impact for the Kotak General Insurance franchise delivering innovation efficiently and rapidly in the Indian general insurance space," Kotak Mahindra Bank MD and CEO Dipak Gupta said. The deal is subject to customary conditions precedent including regulatory approvals from the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India, and the Competition Commission of India. Following the announcement of the news, Kotak Bank shares rallied 2% to the day's high of Rs 1,758 on BSE. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on mahindra bank kotak mahindra Insurance Company zurich insurance company Zurich Insurance Kotak General Insurance Kotak Mahindra Bank (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | Marketscreener.com | Zurich Insurance to Take Control of Kotak Mahindra's Casualty Insurance Unit -- Update | By Kosaku Narioka Zurich Insurance Group agreed to acquire a majority stake in Kotak Mahindra Bank's casualty insurance business and form a strategic alliance with the Indian bank. Zurich Insurance said Thursday that it would invest about 40.51 billion rupees ($486.5 million) to acquire a 51% stake in Kotak Mahindra General Insurance and plans to buy an additional stake of 19% within three years from the initial purchase. Zurich's initial investment amount includes fresh growth capital of up to about INR16.09 billion in the insurance business, the Indian bank said. The planned acquisition values the insurance business at about INR79.43 billion, it added. For the fiscal year ended March, Kotak Mahindra General Insurance generated gross written premiums of INR11.48 billion, the bank said. Kotak Mahindra Bank Chief Executive Dipak Gupta said its distribution channels in the country and Zurich's global capabilities have potential to create a transformational impact for the insurance business. "India is one of the world's most important markets with immense potential and we are pleased to be making a significant commitment with an excellent partner," said Tulsi Naidu, CEO for Asia Pacific at Zurich. The acquisition is subject to approvals from Indian regulators, the companies said. Kotak Mahindra General Insurance will cease to be a subsidiary of Kotak Mahindra Bank once Zurich acquires the majority stake. Write to Kosaku Narioka at kosaku.narioka@wsj.com (END) Dow Jones Newswires 11-02-23 0133ET |
2024-11-02 | GlobeNewswire | BDO Unibank, Inc. to present at the dbVIC - Deutsche Bank ADR Virtual Investor Conference on November 9th 2023 | MANILA, Philippines, Nov. 02, 2023 (GLOBE NEWSWIRE) -- BDO Unibank, Inc. (BDO, BDOUY) based in the Philippines, today announced that BDO Unibank, Inc. Executive Vice President, Luis S. Reyes, Jr. will present at the dbVIC - Deutsche Bank American Depositary Receipt (ADR) Virtual Investor Conference on November 9th. This virtual investor conference is aimed exclusively at introducing global companies with ADR programs to investors. This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. Participation is free of charge. About BDO Unibank, Inc. BDO is a full-service universal bank in the Philippines, providing a complete array of industry-leading products and services including Lending (corporate and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Retail Cash Cards, Corporate Cash Management and Remittances. Through its local subsidiaries, the Bank offers Investment Banking, Private Banking, Leasing and Finance, Rural Banking, Life Insurance, Insurance Brokerage, and Online and Traditional Stock Brokerage services. The Bank has the largest distribution network with over 1,700 operating branches and more than 4,700 ATMs nationwide. BDO has 16 international offices (including full-service branches in Hong Kong and Singapore) spread across Asia, Europe, North America, and the Middle East. As of June 30, 2023, BDO is the country’s largest bank in terms of total resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide. For more information, please visitwww.bdo.com.ph. About Virtual Investor Conferences®Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors. ContactsBDO Unibank, Inc.Investor Relations (IR) Team(632) 8840 7000irandcorplan@bdo.com.ph Luis S. Reyes, Jr.Executive Vice President(632) 8840 7000 (loc. 6069)reyes.luis@bdo.com.ph Virtual Investor ConferencesJohn M. ViglottiSVP Corporate Services, Investor AccessOTC Markets Group(212) 220-2221johnv@otcmarkets.com |
2024-11-02 | The Times of India | GIFT Nifty up 35 points; here's the trading setup for today's session | Shutterstock.com The net short position of FIIs increased from 1.57 lakh crore on Tuesday to Rs 1.62 lakh crore on Wednesday. Domestic equities stumbled on Wednesday as investors stayed cautious ahead of the US Fed outcome. Markets would react to the Fed's interest rate decision and economic data to be released during the day. "The comments from Chair Jerome Powell will take the spotlight as it will provide insights into Fed’s next move. Also, investors would watch out for BOE’s interest rate decision to be announced on Thursday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a positive start GIFT Nifty on the NSE IX traded lower by 33.5 points, or 0.17 per cent, at 19,218.50, signaling that Dalal Street was headed for positive start on Thursday. Tech View: The short-term trend of Nifty continues to be weak. The Nifty is expected to slide down to the lower support of 18850 levels (200 day EMA) once again before showing another round of upside bounce from the lows. Any intra-week up move from here could encounter resistance around 19100 levels, said Nagaraj Shetti of HDFC Securities. India VIX: India VIX, which is a measure of the fear in the markets, rose 1.88% to settle at 12.05 levels. US stocks gain Wall Street's major indexes closed higher on Wednesday with the Nasdaq's 1.6% advance leading gains, after the U.S. Federal Reserve kept interest rates unchanged. Dow up 0.67%, S&P rises 1.05%, Nasdaq gains 1.64% Asian shares up Shares in Asia jumped tracking gains in US stocks and bonds after the Federal Reserve signaled its policy tightening cycle may be over. S&P 500 futures rose 0.2% as of 9:03 a.m. Tokyo time. The S&P 500 rose 1.1% Nasdaq 100 futures rose 0.3%. The Nasdaq 100 rose 1.8% Hang Seng futures rose 0.4% Japan’s Topix rose 1% Australia’s S&P/ASX 200 rose 1.2% Oil rises Oil prices edged higher in early trade on Thursday as the conflict in the Middle East kept investors on edge about whether it could disrupt oil supplies around the region. Brent crude futures rose 38 cents at $85.01 a barrel by 0000 GMT, while U.S. West Texas Intermediate crude futures gained 46 cents at $80.90 a barrel. Dollar falls The dollar fell broadly on Thursday, tracking a slide in U.S. Treasury yields as markets grew more convinced the Federal Reserve was done with its aggressive monetary policy tightening cycle after it left rates unchanged. Stocks in F&O ban today 1) GNFC Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit. FII/DII action Foreign portfolio investors were net sellers at Rs 1,817 crore on Tuesday. DIIs bought shares worth Rs 1622 crore. Rupee The rupee fell to a record low at 83.29 on Wednesday, on the back of heavy demand for the greenback and elevated US yields. F&O data The net short position of FIIs increased from 1.57 lakh crore on Tuesday to Rs 1.62 lakh crore on Wednesday. Q2 results Adani Enterprises, Tata Motors, Adani Power, Dabur and a slew of other companies will announce their second quarter results today. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on Nifty today GIFT Nifty US Fed Jerome Powell US stocks (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | GlobeNewswire | Global Data Lake Market Thrives Amid Rising Demand for Advanced Analytics, in Spite of Data Security Concerns | Dublin, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The"Data Lake Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031"report has been added toResearchAndMarkets.com'soffering. The global data lake market is on a trajectory of substantial growth, with a projected CAGR of 21% from 2023 to 2031. This surge is driven by several key factors that are reshaping the data landscape and transforming the way organizations handle and leverage their data. Increasing Data Volume and Complexity:One of the primary drivers of the data lake market's growth is the explosive growth in data volume and complexity. In today's digital age, organizations are being inundated with vast amounts of structured and unstructured data from a multitude of sources, including IoT devices, social media, and customer interactions. This surge in data presents both a challenge and an opportunity, as organizations seek to harness this data for valuable business insights and analytics. The growing investments in data storage and management solutions underscore the vital role data lakes play in handling this data tsunami. Demand for Advanced Analytics and Business Intelligence:The relentless pursuit of competitive advantages is leading organizations to seek actionable insights from their data. Data lakes serve as centralized repositories that empower organizations to perform advanced analytics, machine learning, and data-driven decision-making. This trend is exemplified by the increasing adoption of data analytics and business intelligence tools, demonstrating the pivotal role data lakes play in enabling data-driven strategies. Cloud Adoption and Scalability:The widespread adoption of cloud computing and its inherent scalability capabilities is another key driver of the data lake market. Cloud-based data lakes offer organizations flexibility, cost-efficiency, and the ability to scale their data storage and processing on-demand. This shift minimizes the need for significant upfront investments in on-premises infrastructure and is evident in the migration of data lake implementations to cloud platforms. Leading cloud service providers are witnessing consistent growth in the usage of their data lake and storage services, reflecting organizations' preference for cloud-native data lake solutions. However, amidst this promising growth, data security and privacy concerns continue to pose a significant restraint. As sensitive and confidential data accumulates within data lakes, organizations are increasingly vigilant about potential security breaches and data misuse. Ensuring robust data governance, access controls, and compliance with data protection regulations is challenging but essential. High-profile data breaches and regulatory fines have underscored the importance of data security. Therefore, organizations are cautious about adopting data lakes without stringent security measures in place, potentially slowing down market expansion. Market Segmentation by Component:The data lake market is segmented into Solutions and Services. In 2022, Solutions, including data lake platforms and tools, generated the highest revenue due to initial infrastructure investments. However, Services are expected to exhibit the highest CAGR during the forecast period. These services encompass data lake consulting, implementation, and managed services, reflecting organizations' shift towards optimizing and extracting value from existing data lake deployments. Market Segmentation by Deployment Mode:The market is further segmented into On-premises and Cloud. In 2022, On-premises data lakes accounted for the highest revenue due to traditional data storage preferences and security concerns. However, during the forecast period, Cloud-based data lakes are expected to experience the highest CAGR, driven by agility and cost-effectiveness. North America remains the Global Leader:North America led the data lake market in 2022, driven by early technology adoption and robust IT infrastructure. However, during the forecast period, the Asia-Pacific region is expected to exhibit the highest CAGR. This growth is attributed to the rapid digitalization of businesses, government initiatives promoting data-driven strategies, and the expanding cloud infrastructure in the region. Market Competition to Intensify:Top players in the data lake market include Amazon Web Services (AWS), Microsoft, Google, IBM, Cloudera, and others. These leaders are expected to maintain their dominance by focusing on comprehensive cloud-based data lake ecosystems, enhanced data security, and seamless integration with analytics and AI/ML services. Partnerships and acquisitions are also likely to shape the competitive landscape. In summary, the data lake market is on an upward trajectory, driven by the growing data landscape, the demand for advanced analytics, and cloud adoption. While data security concerns persist, organizations recognize the value of data lakes in their digital transformation journey, paving the way for data-driven decision-making across various sectors. Key Topics Covered1. Preface1.1. Report Description1.1.1. Purpose of the Report1.1.2. Target Audience1.1.3. Key Offerings1.2. Market Segmentation1.3. Research Methodology1.3.1. Phase I - Secondary Research1.3.2. Phase II - Primary Research1.3.3. Phase III - Expert Panel Review1.3.4. Assumptions1.3.5. Approach Adopted2. Executive Summary2.1. Market Snapshot: Global Data Lake Market2.2. Global Data Lake Market, By Component, 2022 (US$ Million)2.3. Global Data Lake Market, By Deployment Mode, 2022 (US$ Million)2.4. Global Data Lake Market, By Organization Size, 2022 (US$ Million)2.5. Global Data Lake Market, By Business Function, 2022 (US$ Million)2.6. Global Data Lake Market, By Industry Vertical, 2022 (US$ Million)2.7. Global Data Lake Market, By Geography, 2022 (US$ Million)2.8. Attractive Investment Proposition by Geography, 20223. Data Lake Market: Competitive Analysis3.1. Market Positioning of Key Data Lake Market Vendors3.2. Strategies Adopted by Data Lake Market Vendors3.3. Key Industry Strategies3.4. Tier Analysis 2022 Versus 20314. Data Lake Market: Macro Analysis & Market Dynamics4.1. Introduction4.2. Global Data Lake Market Value, 2021 - 2031, (US$ Million)4.3. Market Dynamics4.3.1. Market Drivers4.3.2. Market Restraints4.3.3. Key Challenges4.3.4. Key Opportunities4.4. Impact Analysis of Drivers and Restraints4.5. See-Saw Analysis5. Data Lake Market: By Component, 2021-2031, USD (Million)5.1. Market Overview5.2. Growth & Revenue Analysis: 2022 Versus 20315.3. Market Segmentation5.3.1. Solutions5.3.1.1. Data Discovery5.3.1.2. Data Integration and Management5.3.1.3. Data Lake Analytics5.3.1.4. Data Visualization5.3.2. Services5.3.2.1. Managed Services5.3.2.2. Professional Services5.3.2.2.1. Consulting5.3.2.2.2. Support and Maintenance5.3.2.2.3. System Integration and Deployment6. Data Lake Market: By Deployment Mode, 2021-2031, USD (Million)6.1. Market Overview6.2. Growth & Revenue Analysis: 2022 Versus 20316.3. Market Segmentation6.3.1. On-premises6.3.2. Cloud7. Data Lake Market: By Organization Size, 2021-2031, USD (Million)7.1. Market Overview7.2. Growth & Revenue Analysis: 2022 Versus 20317.3. Market Segmentation7.3.1. Large Enterprises7.3.2. Small and Medium-Sized Enterprises (SMEs)8. Data Lake Market: By Business Function, 2021-2031, USD (Million)8.1. Market Overview8.2. Growth & Revenue Analysis: 2022 Versus 20318.3. Market Segmentation8.3.1. Marketing8.3.2. Sales8.3.3. Operations8.3.4. Finance8.3.5. Human Resources9. Data Lake Market: By Industry Vertical, 2021-2031, USD (Million)9.1. Market Overview9.2. Growth & Revenue Analysis: 2022 Versus 20319.3. Market Segmentation9.3.1. Banking, Financial Services and Insurance (BFSI)9.3.2. Telecommunication and Information Technology (IT)9.3.3. Retail and eCommerce9.3.4. Healthcare and Life Sciences9.3.5. Manufacturing9.3.6. Energy and Utilities9.3.7. Media and Entertainment9.3.8. Government9.3.9. Others (Travel & Hospitality, Transportation & Logistics, Education)10. North America Data Lake Market, 2021-2031, USD (Million) 11. UK and European Union Data Lake Market, 2021-2031, USD (Million) 12. Asia Pacific Data Lake Market, 2021-2031, USD (Million) 13. Latin America Data Lake Market, 2021-2031, USD (Million) 14. Middle East and Africa Data Lake Market, 2021-2031, USD (Million) 15. Company Profiles15.1. Amazon Web Services (AWS)15.2. Microsoft Corporation15.3. Google LLC15.4. IBM Corporation15.5. Cloudera, Inc.15.6. Dremio Corporation15.7. Informatica Corporation15.8. Oracle Corporation15.9. SAS Institute Inc.15.10. Snowflake Inc.15.11. Teradata Corporation15.12. Zaloni, Inc.15.13. Other Notable Players For more information about this report visithttps://www.researchandmarkets.com/r/26ha4 About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. |
2024-11-02 | Marketscreener.com | Uber Technologies : Delivering Flexibility and Benefits for NY Drivers | For years, we haveadvocatedto change the status quo to allow those who choose platform work to have both the ability to work when, where and how often they want, as well as receive important benefits. Choosing flexibility shouldn't mean folks have to give up protections like sick pay and minimum earnings. Today, Uber reached a landmark, first-of-its-kind agreement with New York Attorney General Letitia James, that gets us closer to achieving that goal. The agreement is a win for drivers across New York State who can now enjoy both the flexibility that is so important to them, while also having new benefits and protections like a minimum earnings standard and paid sick leave. This helps put to rest the classification issue in New York and moves us forward with a model that reflects the way people are increasingly choosing to work. It also will serve as a model for other states, demonstrating that when we work together with legislators and regulators, we can resolve these issues in a way that benefits workers and consumers alike. As part of this agreement, Uber will provide drivers across the state with the following: This builds on a recent agreement with the New York State Department of Labor. As part of that previously announced agreement, Uber will pay into New York State's unemployment insurance fund, so drivers and delivery workers have access to unemployment benefits, should they find themselves out of work. We thank Attorney General James and her team for their hard work in delivering a resolution that balances accountability and innovation while addressing the true needs of these hard working drivers in New York. We remaineagerto work with policymakers, drivers, advocates and other stakeholders around the world to forge similar frameworks that unlock true flexibility plus benefits and protections for platform workers. Attachments Disclaimer Uber Technologies Inc.published this content on02 November 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on02 November 2023 12:23:55 UTC. |
2024-11-02 | ETF Daily News | EverSource Wealth Advisors LLC Purchases 439 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) | EverSource Wealth Advisors LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report) by 85.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 955 shares of the financial services provider’s stock after acquiring an additional 439 shares during the period. EverSource Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $120,000 as of its most recent SEC filing. Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aspire Private Capital LLC bought a new position in The PNC Financial Services Group in the first quarter worth approximately $16,268,800,000. MUFG Securities EMEA plc bought a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $25,000. Centerpoint Advisors LLC bought a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $26,000. Fiduciary Alliance LLC bought a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $27,000. Finally, Chilton Capital Management LLC bought a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $33,000. Institutional investors own 80.14% of the company’s stock. The PNC Financial Services Group stockopened at $113.46 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $170.27. The business has a 50-day simple moving average of $119.39 and a 200 day simple moving average of $123.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.28. The stock has a market cap of $45.19 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 1.03 and a beta of 1.14. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe PNC Financial Services Group (NYSE:PNC–Get Free Report) last posted its earnings results on Friday, October 13th. The financial services provider reported $3.60 EPS for the quarter, topping the consensus estimate of $3.10 by $0.50. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The business had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the business earned $3.78 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.79 earnings per share for the current fiscal year. The firm also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.46%. The ex-dividend date is Monday, October 16th. The PNC Financial Services Group’s payout ratio is 43.03%. A number of research analysts have recently weighed in on PNC shares. Bank of America upgraded The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 10th. Morgan Stanley dropped their target price on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a report on Tuesday, October 3rd. Credit Suisse Group dropped their price target on The PNC Financial Services Group from $145.00 to $135.00 in a report on Wednesday, July 19th. HSBC started coverage on The PNC Financial Services Group in a report on Thursday, September 7th. They set a “reduce” rating and a $110.00 price target on the stock. Finally, Stephens dropped their price target on The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.99. Check Out Our Latest Research Report on The PNC Financial Services Group (Free Report) The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. Want to see what other hedge funds are holding PNC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report). |
2024-11-02 | ETF Daily News | Motco Has $4.50 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) | Motco grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,736 shares of the financial services provider’s stock after purchasing an additional 2,500 shares during the quarter. Motco’s holdings in The PNC Financial Services Group were worth $4,501,000 as of its most recent filing with the SEC. Several other large investors also recently made changes to their positions in PNC. 1832 Asset Management L.P. raised its stake in shares of The PNC Financial Services Group by 33.5% in the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 67 shares during the last quarter. Nilsine Partners LLC raised its position in shares of The PNC Financial Services Group by 1.7% during the second quarter. Nilsine Partners LLC now owns 4,701 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 78 shares during the last quarter. KCM Investment Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 7.1% during the first quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 79 shares during the period. Bradley Foster & Sargent Inc. CT boosted its holdings in The PNC Financial Services Group by 2.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 82 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in The PNC Financial Services Group by 1.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,838 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 84 shares during the period. Institutional investors own 80.14% of the company’s stock. A number of research firms have issued reports on PNC. Stephens cut their target price on shares of The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating on the stock in a research report on Monday, October 16th.StockNews.comstarted coverage on shares of The PNC Financial Services Group in a report on Thursday, October 5th. They set a “sell” rating for the company. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $186.00 to $176.00 in a research note on Wednesday, July 19th. Odeon Capital Group cut The PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Finally, Morgan Stanley cut their target price on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $150.99. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Analysis on PNC Shares ofNYSE:PNCopened at $113.46 on Thursday. The firm has a market cap of $45.19 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 1.03 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $170.27. The company’s fifty day simple moving average is $119.39 and its 200 day simple moving average is $123.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.28. The PNC Financial Services Group (NYSE:PNC–Get Free Report) last released its earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The firm had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.32 billion. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.78 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.79 EPS for the current fiscal year. The company also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.46%. The ex-dividend date is Monday, October 16th. The PNC Financial Services Group’s payout ratio is 43.03%. (Free Report) The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. Want to see what other hedge funds are holding PNC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report). |
2024-10-09 | The Times of India | Markets may open lower on heightened geopolitical risks | Agencies "If the stock market was cheaper, the potential impact of this (geopolitical concerns) would have been moderate," said Jain. Mumbai: Investors must brace for sharp swings in equities early this week as the unexpected escalation of the decades-long conflict between Israel and Palestinian militant group Hamas has heightened geopolitical risks for the market. While markets across the globe, including Dalal Street, reacted adversely Monday morning, the extent of the fallout in the days ahead will depend on the involvement of countries such as the US and Iran in the conflict, and the direction of oil prices . BSE Sensex tanked 500 points at open to below 65,500 level while Nifty50 tested 19,500 mark as it lost 155 points. Stocks in Israel and the Middle East dropped on Sunday in response to the heightened tensions in the region. Israel equities plunged 5.8% at the time of going to print. Saudi Arabia was down 1.7%, while Kuwait and Qatar markets were trading weak. Oil on Boil? All eyes will be on oil prices when they open for trading on Monday morning. "The main element of the new geopolitical risk is oil," said S Naren, CIO, ICICI Prudential Asset Management. "If the increase in oil prices on account of the event is not substantial, India will not have much of a problem because its economic fundamentals are strong. But, if oil prices rise substantially, it will not be good news for investors then." Some in the market expect the surge in oil prices in reaction to the geopolitical concerns to be limited, unless the US and Iran become parties in the conflict. Iran, a key backer of Hamas, is a major oil producer. Markets are watching if the US and other developed countries put fresh restrictions on Iranian oil exports as a fallout of the conflict. Israel itself is not a big oil producer. "Much will depend on whether the crisis turns out to be another short-term flare-up or something much bigger like a war between Israel and Iran," said Ed Yardeni, founder and chief investment strategist at Yardeni Research, a New York-based investment consultancy. "That's unlikely, but today's conflict will only escalate the tensions between these two adversaries. The price of oil may be a good way to assess the likelihood of a broader conflict." Concerns over the recent surge in oil prices to over $90 a barrel, along with the spike in the US bond yields and the dollar, have sparked so-called risk-off sentiment across Emerging Markets (EM),including India, in the past three weeks. Specifically for the Indian economy, higher crude prices are bad news as it imports more than 80% of the crude it requires. Elevated Risk-off? While Brent crude futures have shed a portion of their gains to $85, a rebound will unnerve investors amid worries that rising gas prices would keep inflation in the US sticky for a longer period, which in turn could force the US Federal Reserve to increase rates further. Elevated interest rates in the US make Indian equities less attractive for investors there. "Geopolitical risks have further complicated the situation in the financial markets and in the US economy," said Ritesh Jain, co-founder, Pinetree Macro. "If oil prices go up further, US inflationary pressures would remain and cause US bond yields to cross 5%. That will not be taken kindly by the markets." On Friday, the yield on the US 10-year benchmark Treasury bond briefly rose to 4.88%, its highest level since 2007. Geopolitics and Indian equities Investors in mid-cap and small-cap stocks have more to worry if the geopolitical risks affect Indian markets. "I would be more worried about the mid-cap and small-cap space if the geopolitical situation blows out of control," said Naren. "The bigger concern in the market is retail investors' unwavering conviction in mid-cap and small-cap stocks, whose valuations are above comfortable levels." Rich market valuations give little room for disappointments in the market. "If the stock market was cheaper, the potential impact of this (geopolitical concerns) would have been moderate," said Jain. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on markets Investors equities oil prices Israel (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-10-13 | Business Insider | Man who tricked Tesla into giving him 5 free cars and set one on fire on a frozen lake gets 4-year prison sentence | A man who managed to trick Tesla into giving him five of its electric cars for free has been sentenced to four years in prison, according to theUS Department of Justice. The man, 34-year-old Michael Gonzalez from Vermont, was able to get five brand new EVs from Tesla that were worth over $560,000 in total, the DOJ said. He later resold three of the cars for below sticker prices to unknowing purchasers, including a used car dealership and buyers on eBay and Craigslist for about $231,900 in total, prosecutors said. The vehicles included a 2018 Model 3, and four Model X EVs, according to court records. Gonzalez got even more crafty when he couldn't resell one of the EVs because Tesla didn't give him a certificate of ownership, the authorities allege. Prosecutors said he drove it onto a frozen lake where he set it on fire and later filed an insurance claim on the Tesla, saying he'd taken the vehicle onto Shelburne Bay in Vermont to go ice fishing at night. The claim was denied. The Vermont man was able to trick Tesla's payment system by giving it the banking information for accounts with insufficient funds, including some accounts that had less than $110 in them, according to court records. The company then gave Gonzalez the cars before it was clear the man's banking accounts did not have the full funds to pay off the full balance. Gonzalez ordered the Teslas using different names, including the names of an ex-girlfriend and a woman he fathered a child with, the indictment said. Gonzalez also submitted "false statements" to the Vermont Department of Motor Vehicles in order to get the titles to the cars, prosecutors said. After his fifth attempt in 2019, Tesla hired a company to repossess one of the Model Xs, but Gonzalez was able to evade the repo men and hide the car in a storage unit, according to the court documents. Gonzalez pleaded guilty to five charges of possessing and disposing of stolen vehicles. He was sentenced to four years in prison on Thursday and has been ordered to pay Tesla about $493,000, as well as another $231,900 to the government, court records show. The 34-year-old has also faced legal trouble in the past, including over allegations that he lied on a federal firearms application, and aggravated assault with a weapon, according toMarketWatch, which was the first to report on the Tesla case. A spokespeople for Tesla and the US Attorney's Office for the District of Vermont, as well as Gonzalez's lawyer did not immediately respond to a request for comment from Insider ahead of publication. Gonzalez's lawyer told MarketWatch, however, that "Michael took full responsibility for his actions." |
2024-10-12 | Digital Trends | How do you crash-test an EV with an 871-pound battery? Mercedes showed us | A flash of light, a big bang, and it’s over. Two SUVs lie askew on a patch of concrete, a debris field scattered between them. They’ve just been in a head-on collision, the moment captured by high-speed cameras aided by blindingly bright lights. That’s what a successful day looks like at the Mercedes-Benz crash-test lab in Sindelfingen, Germany. While spectacular and jarring, crash-tests aren’t special. Mercedes averages three per day at this facility, giving engineers plenty of data from onboard sensors and crash-test dummies to analyze behind closed doors. But this test was different. The two cars sacrificed for safety were electric, and Mercedes invited Digital Trends and other media outlets to watch them get smashed. It’s rare for automakers to let any outsiders watch a live crash-test, so much so that Mercedes claims it is the first automaker to publicly conduct a crash-test of this type between two EVs. It set up this spectacle of destruction to prove that EVs are just as safe as gasoline cars. From a lack of engine noise to swapping gas pumps for chargers, EVs are changing a lot about the driving experience that we take for granted. But safety has to remain the same. High safety standards are mandatory in most major markets, and it’s become a major selling point for automakers that know customers will pay a premium for a car with the highest safety ratings. “Safety is not a question of the drivetrain for us,” Julia Hinners, passive safety engineer at Mercedes, said while standing next to aMercedes EQSelectric sedan with doors that been caved in by a side impact. Mercedes has set a goal of zero fatalities in its cars by 2050, and it has dubbed the endeavor “Vision Zero.” If it achieves that goal, it will likely happen with an all-electric lineup. The automaker in 2021 announced plans to go all-electric by 2030 in at least some markets. But the two goals aren’t dependent on each other. Hinners said Mercedes would still be aiming for zero fatalities if it was still making only gasoline cars. It just happens to be shifting to EVs in anticipation of stricter emissions rules. Mercedes has fielded some notable safety innovations over the years, becoming the first automaker to add crumple zones to production cars in 1959. But there’s no technological silver bullet for making EVs safer. Engineers approach EV crash protection the same way as with gasoline cars, by designing the vehicle’s structure to absorb and disperse crash forces. “It’s not only a challenge,” Hinners said of working on EVs, “it’s a lot more opportunity.” Take the front end. With no engine, the basic structure had to be redesigned for EVs, specifically with bigger longitudinal rails. But the lack of an engine also meant these components and others could be made in whatever shape engineers wanted, Hinners explained. However, EVs also include an added wrinkle for crash safety engineers: the battery pack. Much like the fuel tanks in internal-combustion cars, the large, heavy pack needs to be protected from damage in order to lessen the chance of fire. High-voltage wires running from the pack are kept in the center of the car, away from crumple zones. Like most automakers, Mercedes places the battery packs in its EVs under the floor. This means one of the biggest structural changes compared to an internal-combustion car is actually in the side sills beneath the doors. They’re quite large, with a honeycomb-like cross section that allows them to absorb the energy of a side impact, shielding the pack. The high-voltage wires running from the pack are also kept in the center of the car, away from crumple zones that could deform on impact and damage them. Battery packs add a lot of weight — aMercedes EQBweighs 871 pounds more than its gasolineGLB250 4Maticcounterpart — but that isn’t a concern for the safety engineers. If anything, the added mass low in the vehicle helps with side-impact and rollover crash-test performance by lowering the center of gravity, Hinners said. All of these features are about to be put to the test. We’re standing on an observation platform in the warehouse-like crash-test facility. Below, aMercedes EQS SUVand an EQA (a smaller model not sold in the U.S.) face off. They’ll be pulled into each other by cables in the floor at 35 mph before colliding with a 50% offset. That means about half of the front end of each car will overlap. The spot where the wheel would normally be located looks like it’s been punched by the Hulk. This is a bit more dramatic than the normal crash-tests used to confirm compliance with safety regulations and to generate the crash-test ratings you see in new car ads. Cars usually aren’t crashed into each other; they’re either crashed into stationary bollards or hit by sleds with deformable faces meant to simulate other vehicles. Safety organizations can also have different parameters. TheInsurance Institute for Highway Safety(IIHS) specifies a 40 mph speed and 40% offset in its moderate overlap frontal crash-test — that’s a higher speed than the Mercedes test, with less of the car’s front end absorbing the impact. Because each car is traveling at 35 mph when they collide, the force of the impact is equivalent to driving into a wall at 70 mph. Physics flings both cars to either side of the test track’s centerline, ejecting headlights and the EQA’s driver’s-side front wheel, which comes to rest a few feet away with its brake rotor and caliper still attached. The spot where the wheel would normally be located looks like it’s been punched by the Hulk. The EQS SUV’s hood is curled like a metal potato chip, while the arm of a crash -test dummy hangs down listlessly below a curtain airbag in a twisted tableau. But all is well. Once firefighters and an electrician have checked the cars out (the high-voltage electronics are designed to shut off automatically if the airbags deploy, but first responders can also manually disconnect power by cutting a cable behind one of the roof pillars), we get an up-close look at the aftermath. Like all modern cars, the Mercedes EVs are designed to shed parts and sacrifice sheet metal to keep the forces of an impact from reaching the people inside. The amount of wreckage makes the scene look pretty bad, but actual drivers and passengers would have likely avoided serious injuries, according to the Mercedes engineers. Mercedes did have a forklift on hand to plunge burning cars into a nearby pool, but that proved unnecessary. The damage also basically stops at the front ends of both cars. All four doors on both the EQS SUV and EQA are easily opened, which would be critically important in a real-life crash, but also shows that the front crash structures absorbed most of the impact as designed. And while the EQA is bleeding pink battery coolant, the packs in both cars are intact. Mercedes did have a forklift on hand to plunge burning cars into a nearby pool, but that proved unnecessary. It’s reassuring to see car safety features work as intended, but we weren’t expecting any surprises. The fact that Mercedes invited media to watch a live crash-test indicates a high level of confidence that nothing would go wrong. Whether its technology demonstrations orfirst drivesof new cars, automakers generally don’t present something to journalists unless it’s fully sorted, as a failure would generate bad coverage. This is also just one test, and one that doesn’t conform to any crash-test standard. Mercedes officials pointed out that this test involved more force than comparable tests needed to certify cars for sale in major markets, and it’s definitely a plausible real-world scenario, but it can’t be compared to new-car safety ratings. At press time, the IIHS and the federal National Highway Traffic Safety Administration (NHTSA) hadn’t published safety ratings for any of the Mercedes EQ models sold in the U.S. EVs from other manufacturers have done well in the IIHS’ stricter tests, though. Caveats aside, this crash demonstration illustrates an important fact about EVs: they’re still cars. Decades of safety development is being carried forward to EVs, even if a century of internal-combustion engine development is being relegated to the dusty shelves of history. It’s not often discussed, but this is a crucial part of the EV revolution. Because if EVs aren’t as safe as today’s gasoline-burning cars, we’ll be taking a step backward. |
2024-10-29 | Business Insider | I'm fleeing Florida after almost 40 years because 'Rolls Royces, Range Rovers and Maseratis took over' and my home insurance skyrocketed | This as-told-to essay is based on a conversation with David, 58, who is moving to Savannah, Georgia, next year after almost 40 years living in West Palm Beach, Florida. He asked to be identified by his first name for privacy reasons, but Insider has verified his identity. The conversation was edited for length and clarity. I am from a small Midwestern town outside of Chicago, and as a child, I dreamed of moving to Florida. My grandparents were snowbirds. We would drive down to see them, and West Palm Beach's mystique drew me in. When I graduated college, I was like, "Why not start my adult life there?" I loaded up the car, and I arrived in West Palm Beach on Halloween of 1987. At the time, maybe 80,000 people lived in West Palm, and many knew each other. But since the pandemic, there has been a cultural and financial shift in Florida. I am 58 now. I started thinking, "As I get older, do I really want to be here?" I didn't see the bright side of staying, so my husband and I sold our house at a massive profit and bought one in Savannah, Georgia. When I first came to West Palm Beach, I moved into a great little area I fell in love with. I lived in a condo for two years, and then I bought a property for $150,000 back in 1989 or 1990. It was great property on a huge lot. During the Great Recession, I took a risk and planned to add onto it. My brother-in-law, who is a contractor, told me, "You're going to get great prices for everything because we're in the middle of a housing crisis. Everything from concrete to your roof to appliances — we're going to be able to get it at a reasonable price and quickly." We got a $700,000 construction loan, and it worked out well. In this neighborhood, everyone knew each other. We were tight-knit and neighborly. Many of us would walk dogs, stop on the sidewalk, and chitchat. We used to do a Secret Santa gifting where at 3 a.m. on Christmas morning, we'd leave wine on 30 of our neighbors' front porches. During the pandemic, the neighborhood changed dramatically. The number of people who were moving down and spending crazy amounts of money was insane. Their attitudes were so different from what everybody was used to; they were demanding people not familiar with the kind of calm lifestyle we were living. The population doubled with people different from others in our neighborhood. Many of the people who moved in were in finance, and many already had family money. They were just throwing money out there like it wasno big deal. Like, "Oh, I sold my apartment in New York for $4 million and I bought this for $2 million." Rolls-Royces, Range Rovers, and Maseratis took over the area without regard for the rules of the road. We used to walk with our neighbors, their kids, and our dogs. Then suddenly, these cars were speeding through the neighborhood. It would be a short block and the speed limit would clearly be 25 mph, and they would get up to about 60 mph. They're whipping around these curbs and we're like, "What the hell is going on?" Some people would put an orange cone in the middle of the road to stop this behavior. People became more hesitant to hang out on walks. There was a lot of disrespect for the community in that way — I hear from our friends in the neighborhood that it still goes on and that it's gotten worse. New residents have added privacy hedges and fences to stay in their bubbles — they started creating cocoons. They started building walls and didn't engage with anybody in the neighborhood. I'm not saying it's good or bad, but it's just so different from what it was. Homeowners' insurance really started climbing whenthe Surfside condo building partially collapsedin 2021. In 2019, I paid about $7,000 per year in homeowners' insurance. The woman who bought my house paid about $22,000 this year. Insurance goes up by between about 30% and 40% per year, and there's nothing you can do about it. The person who bought my house also pays about $40,000 in property taxes per year. Because of Florida's homestead exemption, which caps the amount an existing homeowner's property taxes can increase per year by 5%, I only paid about $15,000 — still a huge sum of money. I started thinking about retirement. How was I going to pay these skyrocketing prices on a fixed income? You'll talk to many retirees who are like, "I have to leave because I'm on a fixed income, and I can't afford these property taxes." Ultimately, we sold the house in 2022 for $2.6 million, and walked away with about $1.8 million in profit. Since then, we've been living in Palm Beach Gardens, Florida, where we rent a condo for $6,000 a month. My husband and I bought a house in Savannah, Georgia, for about $683,000. We just closed on it last week, and we plan to move there in March. Savannah felt right. The islands of Savannah reminded us of the old Florida. The home we purchased on Wilmington Island would be triple the cost in our former neighborhood, yet it feels like Florida without the crowds and still retains the smell of the ocean. |
2024-10-05 | Marketscreener.com | Kibali Drives Sustainable Value Creation Through Partnerships | All amounts expressed in US dollars KINSHASA, Democratic Republic of Congo, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – The planned third-quarter ramp-up at Kibali, Africa’s largest gold mine, has positioned it strongly to achieve its production guidance for the year, maintaining Barrick’s track record of delivery in the Democratic Republic of Congo. Speaking to journalists here, president and chief executive Mark Bristow said Kibali was also well on its way to again replace the ounces mined during the year, with positive results from the down plunge at Lodes 3000 and 5000 and good progress with the development of the Lode 11000 decline expected to yield further resource to reserve conversions. Kibali derives most of its energy needs from its three hydropower stations with plans for a 16MW solar farm with a battery energy storage system to augment the hydropower supply during the dry season well under way. Following completion of this project, the mine will run entirely on renewable energy for six months of the year reducing its greenhouse gas emissions by 19.7kt CO2e annually. Part of the World Gold Council’s new documentary,GOLD: A Journey with Idris Elba, released on YouTube today, was filmed at Kibali. Bristow said the mine was driving sustainable value creation through local partnerships, spending over $180 million with Congolese suppliers in the year to date and continuing to invest in community development programs. “As Barrick has shown, responsible mining has the unique ability to make a transformative impact on the economies of developing and underdeveloped countries. It is a force for good for all its stakeholders, especially host countries and communities, and that force is amplified when there is a genuine partnership between miners and governments,” he said. These include Cahier des Charge, part of our social development program aligned with the Mining Code, which has launched eleven projects this year with seven nearing completion. Barrick’s investment in this program will total $8.9 million over five years. Additionally, the mine’s community development fund, which contributes 0.3% of revenue to projects, now has 44 projects under its wing. Kibali also continues to lead the way in biodiversity, with an assessment underway for the transfer of a further 30 white rhinos to the Garamba National Park, where 16 were re-introduced earlier this year by a Barrick-led initiative. Enquiries: DRC country managerCyrille Mutombo+243 812 532 441 Investor and Media RelationsKathy du Plessis+44 20 7557 7738Email: barrick@dpapr.com Website:www.barrick.com Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “plan”, “ramp-up”, “achieve”, “track”, “progress”, “develop”, “drive”, “continue”, “transform”, “launch”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s ability to achieve its 2023 production guidance; Kibali’s potential to continue to replace reserves net of depletion; the potential for underground development to yield further conversions of resources to reserves; Kibali’s renewable power strategy and anticipated benefits from the completion of a new solar farm; the anticipated benefits from Kibali’s local procurement initiatives and investment in local partnerships and communities; Barrick’s investment in community programs and projects including through the Cahiers des Charges program; Barrick’s sustainability strategy and investment in Africa’s biodiversity including through the reintroduction of white rhinos to the Garamba National Park; and Barrick’s commitment to the DRC and potential further growth opportunities. Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company’s expectations; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick’s targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations to related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the ongoing business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. |
2024-10-05 | GlobeNewswire | Kibali Drives Sustainable Value Creation Through Partnerships | All amounts expressed in US dollars KINSHASA, Democratic Republic of Congo, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – The planned third-quarter ramp-up at Kibali, Africa’s largest gold mine, has positioned it strongly to achieve its production guidance for the year, maintaining Barrick’s track record of delivery in the Democratic Republic of Congo. Speaking to journalists here, president and chief executive Mark Bristow said Kibali was also well on its way to again replace the ounces mined during the year, with positive results from the down plunge at Lodes 3000 and 5000 and good progress with the development of the Lode 11000 decline expected to yield further resource to reserve conversions. Kibali derives most of its energy needs from its three hydropower stations with plans for a 16MW solar farm with a battery energy storage system to augment the hydropower supply during the dry season well under way. Following completion of this project, the mine will run entirely on renewable energy for six months of the year reducing its greenhouse gas emissions by 19.7kt CO2e annually. Part of the World Gold Council’s new documentary,GOLD: A Journey with Idris Elba, released on YouTube today, was filmed at Kibali. Bristow said the mine was driving sustainable value creation through local partnerships, spending over $180 million with Congolese suppliers in the year to date and continuing to invest in community development programs. “As Barrick has shown, responsible mining has the unique ability to make a transformative impact on the economies of developing and underdeveloped countries. It is a force for good for all its stakeholders, especially host countries and communities, and that force is amplified when there is a genuine partnership between miners and governments,” he said. These include Cahier des Charge, part of our social development program aligned with the Mining Code, which has launched eleven projects this year with seven nearing completion. Barrick’s investment in this program will total $8.9 million over five years. Additionally, the mine’s community development fund, which contributes 0.3% of revenue to projects, now has 44 projects under its wing. Kibali also continues to lead the way in biodiversity, with an assessment underway for the transfer of a further 30 white rhinos to the Garamba National Park, where 16 were re-introduced earlier this year by a Barrick-led initiative. Enquiries: DRC country managerCyrille Mutombo+243 812 532 441 Investor and Media RelationsKathy du Plessis+44 20 7557 7738Email: barrick@dpapr.com Website:www.barrick.com Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “plan”, “ramp-up”, “achieve”, “track”, “progress”, “develop”, “drive”, “continue”, “transform”, “launch”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s ability to achieve its 2023 production guidance; Kibali’s potential to continue to replace reserves net of depletion; the potential for underground development to yield further conversions of resources to reserves; Kibali’s renewable power strategy and anticipated benefits from the completion of a new solar farm; the anticipated benefits from Kibali’s local procurement initiatives and investment in local partnerships and communities; Barrick’s investment in community programs and projects including through the Cahiers des Charges program; Barrick’s sustainability strategy and investment in Africa’s biodiversity including through the reintroduction of white rhinos to the Garamba National Park; and Barrick’s commitment to the DRC and potential further growth opportunities. Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company’s expectations; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick’s targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations to related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the ongoing business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. |
2024-10-05 | Al Jazeera English | Lack of safety nets hurt Ghana’s most vulnerable as economic woes deepen | Ghana’s low-income households and working class are feeling the effects of the country’s worst economic crisis in decades. Accra, Ghana– Until last year, “Kofi Brokeman”, a streetside snack of roasted plantains and peanuts, was an everyday treat for many of Ghana’s 33 million people. Then prices began rising, almost doubling in some places to 5 Ghanaian cedis ($0.43 cents) per slice. So some locals jokingly rechristened it “Kofi Richman”. But the situation is no laughing matter for Lovelace Ayittey, 59, who sells the snack on Lagos Avenue, a stretch in the wealthy East Legon enclave of Accra. “The price of the plantain bunches has risen sharply from 10 to 50 cedis,” she told Al Jazeera. “I cut them the same size but I have to squeeze my hand and suffer the loss.” Last week, Ayittey said she had to toss out 800 cedis ($69) worth of plantains that went unsold. As the West African nation endures a spiralling economic crisis, the cost of living is skyrocketing. For years, Ghana positioned itself as a stable economy and land of opportunity for all. Since 2019, it has also marketed itself as a home for Africans in the diaspora, targeting them with a campaign of pan-African fellowship and festivity, whose end-of-year highlights locals now call “Detty December”. But the data says otherwise. A World Bank report last June revealed that 850,000 Ghanaians had been pushed into poverty, joining the six million already in that category. Between January and December 2022, year on year inflation rose from 14 to 54 percent, reaching levels unseen since the early 2000s. The currency, the cedi, has lost more than half its value against the dollar. Many low-income households now spend more than half of their earnings on food. In trotros, the vans that serve as a popular means of transportation, passengers and drivers’ mates now fight over the sudden jump in fares. TheKenkey Index, a project tracking the change in price and size of kenkey (dumplings), a carbohydrate-heavy go-to staple, found that the prices were increasing as the sizes got smaller. The most common price now is 4 cedis ($0.34), up from 3 cedis (0.26) a year ago. So Comfort Asamoah, who has sold toothpaste, toilet rolls and other toiletries for the last 30 years from a pavement on the margins of the Tema Station market in Accra, can longer afford to eat kenkey and fish. Instead, she now eats one meal of banku (boiled dough) and soup daily. “I have to mentally persuade myself that I am satisfied [with my food choice],” she said. “Yes, there was some food distribution from the government,” she said “but the cost of transportation to get there compared to how much you got wasn’t worth it.” Asamoah is grateful for the government’s free senior high school programme, which has cut her costs for her children’s education. But still, she’d needed about 4,000 cedis ($345) for supplies and pocket money for her two daughters. The COVID-19 era hardship depleted her savings so she has had to make one daughter stay home. Last May, President Nana Akufo-Addo’s administration asked the International Monetary Fund to get a loan – for the 17th time in the country’s history. Dorcas Ansah, Accra coordinator of the nonprofit WIEGO (Women in Informal Employment: Globalizing and Organizing) believes more people have been driven into poverty than have been accounted for. WIEGO works with domestic workers, market traders, street vendors and others in informal jobs who make up half of all employees in the Greater Accra area. Informal employment accounts for 89 percent of employment nationally, as well. But these workers are generally not covered by pensions, don’t receive cash transfers, and are not beneficiaries of poverty relief programmes. “Informal workers are also essential workers,” Ansah said, “During COVID-19, markets across the country had to be open, and their workers placed at risk.” Despite that, they received little support. In 2021, a WIEGO study found that only five percent of workers had received food relief from the government. More than half of workers generally reported skipping a meal or eating a smaller variety of foods. The government says the COVID-19 pandemic and the war in Ukraine – which has driven up some food, fertiliser and fuel prices – were the primary causes of the economic woes. Yet the World Bank’s report highlighted that the economy “entered a full-blown crisis in 2022, after having rebounded from the COVID-19 slowdown in 2021”. The authorities, the report noted, “failed to implement significant and sustainable reforms that would have been required to restore debt and fiscal sustainability”. Most Ghanaians have attributed the crisis to government corruption. According to Afrobarometer surveys, 83 percent of people believed there was a theft of pandemic-related funds. They point to the auditor-general’s report revealing that $80m was spent on vaccines that never arrived and to officials at the Ministry of Information who paid themselves unapproved risk allowances, as corroboration. The World Bank, too, in its report, noted that the government was “unable to enforce large across-the-board expenditure cuts”. All of this occurred concurrently with underinvestment in helping the poor to withstand economic shocks. Ghana’s expenditure on debt servicing is four times what it spends on education, eight times more than health spending, and 14 times more than funding for social protections. After visiting in 2018, Philip Alston, the UN’s Special Rapporteur on extreme poverty noted that Ghana was investing only 1.4 percent of gross domestic product in social protections, compared with its peers in the region who spent 50 percent more. Alston said existing programmes were “likely to benefit the … well-connected far more than those living in poverty”. For instance, since 2014, the government has spent less on the National Health Insurance Scheme programme than the funding allocated to it. In 2021,1.9 billion cedis ($164m) were allocated for it by the National Health Insurance Authority but only 1.39 billion ($120m) were released. Ayittey, the “Kofi Brokeman” seller, visits the Korle Bu Teaching Hospital for diabetes treatment frequently. Despite having insurance, she told Al Jazeera that she spends 100 cedis ($8.60) on every visit. “The medicine is covered, but you get charged for the equipment used, labs and other services.” Elderly people and those with disabilities told Alston that money received from another scheme, the Livelihood Empowerment Against Poverty (LEAP) – 64 cedis ($5.50) at the time, but increased to 128 cedis ($11) this year – only “covered them for at best two weeks out of an eight-week pay cycle”. The working and middle classes have been feeling the pinch, too. While there had been economic growth in the years leading up to the COVID-19 crisis, much of the gains had gone to the affluent so Ghana has one of the fastest-growing rates of inequality in Africa. According to the Ghana Statistical Service, four of five public sector employees earn less than 3,000 Ghanaian cedis ($260) a month. Anonline survey(skewed towards college-educated single men under 35) conducted by financial analyst Jerome Kuseh also found that more than half of respondents made less than 5,000 cedis a month ($440). At least half of those surveyed had less than 10,000 cedis ($860) as their total life savings. “Ghana’s safety net consists of an underfunded health insurance scheme, free senior high school education with disparities in the quality of infrastructure,” Kuseh told Al Jazeera. “These social programmes are necessary, but are inadequate to tackle the recurrent economic crises that result in a sharp increase in the cost of living every few years.” Analysts say the government has to change its course of action and enact policies favouring its most vulnerable citizens. “For far too long, the interests of the wealthy few have defined, driven and directed public policy that could have addressed this,” Kwesi Obeng, accountable governance lead for Oxfam Africa told Al Jazeera. “Stemming the tide of austerity and addressing poverty should be top priority for the government.” Follow Al Jazeera English: |
2024-10-19 | Phys.Org | Flood warnings for Africa advance with EU expertise | Satellites and on-the-ground sensors are helping Kenya, Ghana and Zambia tackle inundation risks and farmers cope with drought.Like most people, Mark Noort reacted with horror to images last month of devastating floods in Libya. Unlike most others, Noort had a professional reason to follow the drama.An expert in Earth observation technology, he took part in a research project that used EU funding to set up a flood-alert system in another African country: Kenya.Early warningsNoort had that successful work in mind as he watched the impact of torrential rains in Libya that caused two dams to burst, inundate the coastal city of Derna, destroy entire neighborhoods and kill thousands of people. Survivors have said they received no adequate alert."Putting an early-warning system in place could have warned people and the number of casualties would have been far lower," said Noort, a Dutch native who is an independent consultant on geospatial information applications. "Although it was a flash flood, it still takes some time to get to the urban area."The EU project—calledTWIGA—established such an early-warning system with the Kenya Meteorological Department in Narok, a town located in the southwestern part of the country near the capital Nairobi. The initiative wrapped up in July 2022 after more than four years.Narok regularly gets inundated in part because it is located in a basin known as the Great Rift Valley, with a flash flood inFebruary 2022resulting in two deaths and widespread destruction.The alert system relies onsatellite dataand official weather forecasts combined with additional—but relatively inexpensive—weather stations and water-flow measurements of rivers.Residents can subscribe to phone alerts. The system is now being improved in a follow-up project—TEMBO Africa—that started in February 2023 and will include monitoring of smaller rivers."If you get five or even just two hours of warning, that is valuable," said Nick van de Giesen, who ran TWIGA, now leads TEMBO and is a professor of water-resource management at Delft University of Technology in the Netherlands. "We are generating information that can be turned into actions."Flood prediction allows people to move to safety, relocate animals and vehicles and block latrines.Dam flowsMore places in Africa are becoming vulnerable to floods as a result of climate change and urbanization, which has increased the amount of hard surfaces that prevent water absorption by the ground. Inadequate drainage also often plays a role."The idea now is to roll out aflood-predictionservice throughout Kenya and after that to find partners in other African countries to do the same," said Noort.Another part of TWIGA tackled water levels behind dams. It deployed technology for monitoring inflows into reservoirs for hydropower plants in Ghana and Zambia.Water can sometimes reach such heights that dam operators are forced to spill it through sluice gates to drain a reservoir. This can cause flooding downstream. It also wastes potential hydroelectricity.Better management of reservoirs by measuring rainfall and river flow upstream was shown in TWIGA to be a game changer. Knowing how much water is coming allows dam operators to act before an emergency release becomes necessary."Maybe you could more gradually spill water or—ideally—generate extra electricity by letting the water run through your turbines," said van de Giesen.Scientists are working with local partners in Ghana and Zambia to create easy-to-use technology. This should prevent deluges in towns and villages downstream of hydropower dams."It is better to spill than have the dams washed away, like what happened in Libya," said van de Giesen, who has worked onwater projectsas an engineer in West Africa.Seed securitySeed insurance is also being trialed for farmers in Ghana, where asemi-arid climatecontributes to crop losses.Under a planned scheme, growers would pay a little extra when buying seeds in return for compensation in the event there isn't enough rain after they're sown.The key is to tell planters when to sow and know when there has been insufficient rain for germination."If you have small farmers, with less than two hectares, you cannot send insurance agents to all," said van de Giesen.Satellites and rainfall detectors automatically signal when insufficient amounts have fallen.While satellites play a role high up, they are unable to scrutinize rainfall down on the ground for farms.Instead, project scientists have turned to cosmic rays for a helping hand.Fast payoutsSubatomic particles from space—called neutrons—zip around at speeds up to 20,000 kilometers a second on Earth. When there's plenty of rain, the particles bounce off water molecules, slowing them down.The researchers built a kit that can detect this neutron slowdown, which signals rainfall. The system combines this information with satellite images to improve predictions about when an individual farm faces drought.In a drought scenario, a farmer automatically receives seeds in compensation or a payout to buy more if needed."A big innovation here is that we're going to be really fast with paying out," said van de Giesen.A Ghanaian insurance group plans to make the product available to local insurers and banks in 2024."This is really about anchoring satellite observations to measurements on the ground," said van de Giesen. |
2024-10-10 | The Times of India | Bear Attack: Israel-Hamas conflict spills onto Street | IANS The Sensex dropped 483.24 points, or 0.73%, to close at 65,512.39 while Nifty declined 141.15 points, or 0.72%, to close at 19,512.35. Mumbai: Indian equities weakened on Monday as heightened uncertainty over the Israel-Hamas conflict led to a flight of money, across global markets , to safe-haven assets such as gold and the US dollar . The surge in oil prices in the wake of the geopolitical tensions also soured sentiment among investors, already anxious about the persistent inflation and rising bond yields in the US. The Sensex dropped 483.24 points, or 0.73%, to close at 65,512.39 while Nifty declined 141.15 points, or 0.72%, to close at 19,512.35. Elsewhere in Asia, China declined 0.44%, Hong Kong rose 0.18%, South Korea gained 0.21% and Taiwan rose 0.41%. In the US, S&P 500 was trading 0.6% higher, the Dow Jones was up 0.6% and the Nasdaq Composite was up 0.4% at the time of going to press. FPIs sell 998 Cr shares On the 50-share Nifty, 43 stocks ended lower while seven ended higher. Adani Ports slumped 5.1%, HDFC Life dropped 2.7%, Hero MotoCorp declined 2.5% and M&M fell 2.2%. “The unfortunate events in Israel along with worries that US interest rates might remain higher for a longer period of time has caused the market to fall today,” said Kumar Manish, head of research at brokerage BOB Capital Markets. Foreign portfolio investors (FPIs) net sold shares worth Rs 997.76 crore while domestic institutions were buyers to the tune of Rs 2,661.27 crore, according to provisional data. NSE’s Volatility Index or VIX — a fear gauge — jumped over 12% to 11.40, suggesting traders see risks of further near-term downside in the market. Analysts said the Nifty’s close below 19,602 — a key technical support — on Monday has opened the likelihood of further downside. “The 50-day SMA (simple moving average) of 19,602 was a sacrosanct level for the Nifty,” said Amol Athawale, VP – Technical Research, Kotak Securities. “Below that level, it may go to 19,150 on a positional basis. If the index goes above it, we may see a rally up to 19,800.” Brent crude futures jumped 3.09% to $87.67 a barrel in Monday’s trading in response to the geopolitical tensions in the Middle East. Though Israel is not an oil producer, the escalating tensions in the region may disrupt supply. Rising oil prices affect India, which imports more than 80% of its crude requirements. Gold prices rose as the Israel-Hamas tensions resulted in demand for lower-risk assets. Comex Gold December futures were up 1% at $1,863.8 at the time of going to print. At home, the selloff in the broader market was sharper, with the Nifty Midcap 150 dropping 1.34% and the Nifty Smallcap 250 falling 1.63%. Of all the 3,929 stocks traded on the BSE, 2,830 declined, while 977 rose. All BSE indices ended in the red. Some analysts do not see a big fall in the Sensex and Nifty from current levels. “Unless the Israel-Palestine conflict worsens and more countries join in, the markets wouldn’t see a dramatic effect,” said Pankaj Pandey, head of research at ICICI Direct. “The market could settle down in the next couple of days and stay in the range of 19,200-19,800. In addition to the geopolitical situation in the Middle East, the September quarter earnings and the upcoming state elections will also weigh on investors’ minds. “Second quarter earnings, the overhang of the state elections, along with the geopolitical situation will be major factors affecting market movement in the coming days,” said Manish. “Unless one of them worsens, the market may not go down significantly.” Elections in the states of Chhattisgarh, Madhya Pradesh, Rajasthan, Telangana, and Mizoram will be held on different days between November 7 and 30. The counting will be on December 3. The outcome of these state election results is seen as setting the stage for the General Elections scheduled for April-May 2024. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on global markets adani ports hdfc life equities US dollar geopolitical tensions hero motocorp (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-10-23 | Marketscreener.com | Italy's UniCredit, Greece's Alpha Bank to merge Romanian units | MILAN, Oct 23 (Reuters) - Italian bank UniCredit
on Monday said it was strengthening its presence in
Romania by merging its local subsidiary with that of Alpha Bank
. The Greek lender will retain a 9.9% stake in the entity
resulting from the merger of UniCredit Romania with Alpha Bank
Romania, which will have a 12% market share by total assets. As part of the accord between UniCredit and Alpha's parent
company Alpha Services and Holdings they also signed a
commercial partnership in insurance and asset management in
Greece, the two companies said.
(Reporting by Valentina Za, editing by Cristina Carlevaro) |
2024-10-13 | Globalsecurity.org | Price Cap Coalition Advisory for the Maritime Oil Industry and Related Sectors | U.S. Department of the Treasury October 12, 2023 Best Practices in Response to Recent Developments in the Maritime Oil Trade The Price Cap Coalition is issuing this advisory to provide recommendations concerning specific best practices in the maritime oil industry. This advisory reflects our efforts to promote responsible practices in the industry to prevent and disrupt sanctioned trade, and enhance compliance with the price caps on crude oil and petroleum products of Russian Federation origin, put in place by the G7, the European Union, and Australia ("the Price Cap Coalition" or "Coalition").[1]The advisory is directed at both government and private sector actors ("industry stakeholders") involved in the maritime trade of crude oil and refined petroleum products.[2] The Coalition is committed to encouraging responsible maritime trade in crude oil and petroleum products within a reputable, safe, and secure market. Recent developments in the maritime oil trade, described below, expose industry stakeholders to increased safety, environmental, economic, reputational, financial, logistical, and legal risks. This advisory outlines best practices industry stakeholders can adopt to reduce risks while promoting the safe flow of oil on the market. These recommendations build upon previous guidance issued by the Price Cap Coalition such as the May 2020 Sanctions Advisory for the Maritime Industry,[3]the Office of Financial Sanctions Implementation (OFSI) December 2020 Maritime Guidance,[4]the Office of Foreign Assets Control (OFAC) February 2023 Guidance on Implementation of the Price Cap Policy,[5]OFAC's April 2023 Alert on Possible Evasion of the Russian Oil Price Cap,[6]OFSI's UK Maritime Services Ban and Oil Price Cap Industry Guidance,[7]and the European Commission's Oil Price Cap Guidance.[8]By adopting the recommendations included in this advisory and previous guidance documents, industry stakeholders can reduce their exposure to possible risks associated with recent developments in the maritime oil trade. Geopolitical changes continue to impact and shape the world's maritime oil trade, shifting trade routes, broadening the scope of shipping service providers, and, at times, resulting in loss of transparency. A "shadow" trade has become more pronounced, often involving actors and cargo affiliated with countries and persons subject to sanctions, or associated with other illicit activity. This shadow trade is characterized by irregular and often high-risk shipping practices that generate significant concerns for both the public and private sectors. These heightened risks include, but are not limited to: Maritime Safety and Marine Environment: The vessels engaged in this shadow trade, sometimes called the "shadow fleet," are typically older ships, many of which are operating past their traditional lifespans. These vessels are often registered with flag states that fail to meet their international obligations. There is also an increased risk of falsified registration. Vessels in the shadow trade may fabricate or neglect the appropriate surveys or inspections and lack regulatory certificates required under international conventions. Additionally, crews employed on shadow fleet vessels may face pressure to disregard prudent shipboard practices, including those provided by the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers ("STCW"). These factors (i.e., vessel age; substandard certifications; inadequate safety and maintenance standards performed by substandard flags or unrecognized organizations; imprudence by crew) could increase the likelihood of marine casualties. Insurance and Economic: Oil spills can create tremendous environmental damage and impose immense economic costs on coastal states. Ships involved in the shadow trade may rely on unproven Protection and Indemnity (P&I) insurance providers that operate in jurisdictions with opaque or limited regulation, and insufficient capital, reinsurance arrangements, and/or technical expertise to handle a major claim in the event of a marine casualty. Accordingly, it is more challenging to hold such vessels accountable for the heavy economic burden generated by environmental damage. Reputational, Logistical, and Financial: Actors involved in the shadow trade often conceal their ownership structures and the origin of their cargo. The ownership of shadow fleet tankers may be concealed through complex corporate arrangements, with a recent increase of single vessel fleets. These vessels may disable or manipulate AIS systems to conceal illicit activity or other information about their voyages. Such deceptive practices may cause industry stakeholders to unknowingly engage in transactions that are inconsistent with industry stakeholders' compliance policies, affect industry stakeholders' reputations, and trigger de-risking behavior from counterparties. This de-risking can result in loss of access to reputable service providers, financing, customers, and ports. Legal and Sanctions: A coalition of over thirty countries have adopted a variety of economic measures in response to Russia's war against Ukraine, including the oil price cap policy implemented by the Price Cap Coalition. Bad actors may use deceptive practices to gain or maintain access to Price Cap Coalition services to transport Russian oil or petroleum products to be sold above the price cap or to engage in activity that may otherwise violate the Coalition's sanctions, laws, or regulations. The following recommendations are best practices that the Coalition encourages industry stakeholders to adopt, subject to applicable laws and regulations and, as appropriate according to their risk, based on: (i) their role; (ii) the information available to them; and (iii) the types of transactions in which they engage: Recommendation 1: Require appropriately capitalized P&I insurance.The shadow trade involves ships that may rely on unknown, untested, sporadic, or fraudulent insurance. Without legitimate, continuous insurance coverage, these ships may be unable to pay the costs of accidents in which they are involved, including oil spills, which entail tremendous environmental damage and safety risks and associated costs. The Coalition encourages industry stakeholders to require that vessels have continuous and appropriate maritime insurance coverage for the entirety of their voyages. The Coalition further recommends that industry stakeholders require vessels to be insured by legitimate insurance providers with sufficient coverage for CLC[9]liabilities. If an industry participant is engaging with a ship that is not insured by such a legitimate insurance provider, the industry participant should conduct sufficient due diligence to ensure that the insurer can cover all relevant risks. Such due diligence could include, as feasible, a review of an insurer's financial soundness, track record, regulatory record, and/or ownership structure. Recommendation 2: Receive classification from an International Association of Classification Societies[10]member society.The information gathered by classification societies is useful in enabling insurers, port states, and other industry stakeholders to make informed decisions about the seaworthiness of vessels. Some ships involved in the shadow trade have shifted away from industry standard classification societies, and instead use societies that are not a part of, or have been removed from, the International Association of Classification Societies. The Coalition encourages[11]industry stakeholders to ensure counterparties receive classification from IACS member classification societies to ensure vessels are fit for the service intended. Recommendation 3: Best-practice use of Automatic Identification Systems ("AIS").Consistent with the International Convention for the Safety of Life at Sea ("SOLAS"), industry stakeholders should promote the continuous broadcasting of AIS throughout the lifetime of a voyage. If a ship needs to disable its AIS in response to a legitimate safety concern, the ship should document the circumstances that necessitated disablement. Industry stakeholders should also vigilantly monitor irregular AIS patterns or data that are inconsistent with actual ship locations. By requiring that ships with which they engage use AIS in accordance with the SOLAS, industry stakeholders will improve their understanding of vessels' activities, and reduce their exposure to criminal actors and associated risks. If accessible, complement AIS Tracking with Long-Range Identification and Tracking ("LRIT"). In instances of AIS outages or suspected AIS manipulation, industry stakeholders such as flagging registries that have access to LRIT should use it to determine the true location of vessels, including, where feasible, those leased to third parties. For those industry stakeholders who have access to LRIT, combining AIS and LRIT is a best practice for mitigating risk. Recommendation 4: Monitor high-risk ship-to-ship transfers.While ship-to-ship (STS) transfers (the transfer of cargo between ships at sea) are often conducted for legitimate purposes, such transfers can also be used to conceal the origin or destination of cargo in circumvention of sanctions or other regulations. Furthermore, STS transfers of crude oil or petroleum products outside of safe and sheltered waters entail heightened environmental and safety risks. Industry stakeholders should recognize these enhanced risks and, as appropriate to their role, conduct enhanced due diligence in the context of STS transfers, including the notification of STS oil cargo transfers as required by Annex I of the International Convention for the Prevention of Pollution from Ships ("MARPOL"), especially in areas at higher risk for illicit trading activity or AIS manipulation. It is also recommended that industry stakeholders verify oil record logs to hold accountable record of cargo movements aboard vessels. Recommendation 5: Request associated shipping and ancillary costs.The inflation of shipping and ancillary costs (e.g.,freight, customs, insurance), or the bundling of such costs, are tactics that may be used to conceal that Russian oil was purchased above the price cap. The billing of commercially unreasonable or opaque shipping and ancillary costs should be viewed as a sign of potential price cap evasion. Shipping, freight, customs, and insurance costs are not included in the price caps and must be invoiced separately and at commercially reasonable rates. Industry stakeholders involved in the Russian oil trade that use "Cost, Insurance, Freight" contracts or whose counterparts use such agreements should require an itemized breakdown of all costs to determine the price paid for oil or petroleum products. This may require that industry stakeholders update contractual terms and conditions with sellers or counterparts or adjust invoicing models to show the price of the oil until the port of loading and the price for transportation and other services separately. Recommendation 6: Undertake appropriate due diligence.Industry stakeholders should carry out appropriate due diligence. Heightened diligence may be appropriate for ships that have undergone numerous administrative changes (e.g.,re-flagging). Industry stakeholders may also wish to conduct increased diligence when dealing with intermediary companies (e.g., management companies, traders, brokerages, etc.) that conceal their beneficial ownership or otherwise engage in unusually opaque practices. Such companies may be more likely to engage in deceptive practices and expose counterparties to heightened risks. Industry stakeholders' due diligence should be calibrated according to the specificities of their business and the related risk exposure. Due diligence is especially important where market assessments indicate that Russian oil prices exceed the price cap, and Coalition services are being used or sought. Recommendation 7: Report ships that trigger concerns. If an industry participant is aware of potentially illicit or unsafe maritime oil trade, including suspected breaches of the oil price cap, they should report this to relevant authorities. By reporting these concerning behaviors, industry stakeholders can collectively help protect the trade from malign activity, while promoting safety and integrity across the market. ### [1]The price cap is designed to deprive the Russian Federation of the revenue it uses to wage its unjust war against Ukraine, while maintaining reliable supply of crude oil and petroleum products to global markets. [2]Industry stakeholders include but are not limited to port authorities, other government bodies, ship owners, managers, operators, brokers, ship chandlers, flag registries, port operators, shipping companies, freight forwarders, classification service providers, and insurance and reinsurance companies. [3]Guidance to Address Illicit Shipping and Sanctions Evasion Practices, U.S. Department of Treasury, State, and Coast Guard (May 14, 2020), https://ofac.treasury.gov/recent-actions/20200514 [4]Maritime Guidance, Office of Financial Sanctions Implementation(December 2020), https://www.gov.uk/government/publications/financial-sanctions-faqs [5]Guidance on Implementation of the Price Cap Policy for Crude Oil and Petroleum Products of Russian Federation Origin; Publication of Russia-related Determinations; Issuance of Russia-related General Licenses, OFAC (February 3, 2023), https://ofac.treasury.gov/recent-actions/20230203_33 [6]OFAC Alert: Possible Evasion of the Russian Oil Price Cap(April 17, 2023), https://ofac.treasury.gov/media/931641/download?inline [7]UK Maritime Services Ban and Oil Price Cap Industry Guidance, Office of Financial Sanctions Implementation(last updated June 2023), https://www.gov.uk/government/publications/russian-oil-services-ban [8]Oil Price Cap; Related Provision: Article 3n of Council Regulation 833/2014 Frequently Asked Questions(last updated August 2023) https://finance.ec.europa.eu/system/files/2023-08/guidance-russian-oil-price-cap_en.pdf [9]International Convention on Civil Liability for Oil Pollution Damage (CLC) (May 1996), https://www.imo.org/en/About/Conventions/Pages/International-Convention-on-Civil-Liability-for-Oil-Pollution-Damage-(CLC).aspx [10]The International Association of Classification Societies is the principal consultative technical advisor to the International Maritime Organization (IMO) and classes over 90% of the world's ocean-going tonnage. SeeSafer and Cleaner Shipping, IACS (September 2023), https://iacs.org.uk/about-us/ [11]For EU member States there is legislation in place requiring to use certain classifications societies as Recognised Organisations that have been approved at EU level (OJ 2022/C 466/07). |
2024-10-17 | Deadline | Neill Blomkamp Movie ‘They Found Us’ Shuts Down Pre-Production In Saudi Arabia | EXCLUSIVE:Neill Blomkamp‘s alien abduction thrillerThey Found Ushas shut down pre-production in Saudi Arabia as it reworks its finance structure, we have learned. Suicide SquadandFor All MankindstarJoel Kinnamanis attached to star in the AGC Studios-backed movie, which was due to get underway in coming weeks. Cast had yet to travel to set. A growing number of sizeable English-language movies are choosing to film in Saudi Arabia. Among big productions to recently shoot in the territory have been AGC’s Anthony Mackie picDesert Warrior— currently in post-production — and Gerard Butler movieKandahar.They Found Us is among a handful of U.S. productions being made in collaboration with Saudi production hub Neom.Related StoriesPremiere Dates'For All Mankind' Teaser: First Look At Season 4, Premiere Date Set For Apple TV+ Space DramaBreaking NewsSamuel L. Jackson In Talks To Play U.S. President In 'The Beast' Alongside Joel Kinnaman; WME Independent Package Has An IA With Peter Berg & Fifth Season Among Producers - Toronto The move to restructure the finance plan behind the independent movie comes just as tension in the region is growing due to the Israel-Gaza crisis. Neom is hundreds of miles from Gaza, but the Israel-Hamas conflict could potentially lead to insurance issues and make travel harder in the region, one indie finance source told us. Some productions filming in Saudi Arabia bring crew from nearby Egypt and Jordan, while international cast and crew travel from the U.S. and beyond. That said, multiple local productions are currently filming unhindered in Saudi Arabia and we understand other international productions are on course to begin filming in the country in coming months. Studio sources on the ground told us they hadn’t heard of any changes to production schedules due to the conflict. AGC told us today: “We’ve taken the reluctant decision with our valued partners at Neom to pause pre-production on the film while we further explore a cross border legal and funding structure that makes all stakeholders comfortable. In deciding when to resume pre-production we’ll obviously assess what impact macro events in the region may have on obtaining production insurances and travel plans. Our friends at Neom and Yellow Camel have been nothing but collaborative and reliable partners at every stage of the journey thus far and we look forward to returning to prep on the film with them at the earliest sensible opportunity.” There is currently no restart date but the expectation is that the film will get underway in coming months. U.S. outfit Media Guarantors is the bond company. They Found Usis being financed by AGC and is based on an original screenplay by Jeremy Slater, whose credits includeMoon Knight,Fantastic Four,The Exorcist, The Lazarus EffectandThe Umbrella Academy. It will follow a father (Kinnaman) and his daughter Kaylee as they undertake a camping trip in the Utah wilderness to heal their broken relationship. After being attacked by a hostile extraterrestrial lifeform, their lives — not just their relationship — wind up at stake, as they fight with a humanoid beast to stop their abduction to an unknown and terrifying alien world. Wyck Godfrey and Marty Bowen are producing forTemple Hill Entertainment(Smile,Twilightfranchise), with AGC’s Stuart Ford on board to exec produce alongsideTemple Hill‘s John Fischer. AGC International will continue sales on the film at the AFM, with UTA Independent Film Group co-repping U.S. rights. Oscar-nominated South African writer, director and producer Blomkamp is best known for sci-fi dramaDistrict 9(in which aliens were also front and center), the police droid-centeredChappieand the Matt Damon-ledElysium. He most recently helmed Sony’s filmGran Turismo. |
2024-10-25 | Al Jazeera English | Israel-Hamas war affecting regional economies, warns IMF head | Kristalina Georgieva said the war on Gaza has caused ‘more jitters’ in an already anxious world. The war between Israel and Hamas is already affecting the region’s economies, the managing director of the International Monetary Fund (IMF) has warned. “You look at the neighbouring countries – Egypt, Lebanon, Jordan – there the channels of impact are already visible,” Kristalina Georgieva said at the Future Investment Initiative (FII) in Saudi Arabia’s capital Riyadh on Wednesday. The IMF is concerned about the tragic loss of life in the epicentre of the war, but also the destruction and reduction of economic activity as a result of the raging conflict, she said. “What is happening in the Middle East is happening at a time when growth is slow and interest rates are high and cost of servicing debt has gone up because of COVID and war,” the IMF chief added. Palestinian group Hamas staged a shock attack on Israel on October 7, killing at least 1,400 people and taking about 220 hostages, according to Israeli authorities. Israel has responded with the relentless bombardment of Gaza and a near-total land, sea and air blockade; Gaza’s health ministry says 5,791 people have been killed in the besieged territory so far. Georgieva spoke a day after Wall Street titans told the forum that the war could deal a heavy blow to the global economy, especially if it draws in other countries. “What we see is more jitters in what has already been an anxious world,” Georgieva said. “You have tourism-dependent countries – uncertainty is a killer for tourist inflows,” she said, describing the potential economic cost for countries in the region before listing specific risks. “Investors are going to be shy to go to that place. Cost of insurance – if you want to move goods, they go up. Risks of even more refugees in countries that are already accepting more.” The annual FII event, dubbed “Davos in the Desert”, has typically served as a chance for Saudi Arabia to showcase domestic economic reforms, the success of which, Saudi officials say, partly hinges on regional stability. While several high-profile speakers have addressed the current regional turmoil, FII attendees have highlighted the capacity of Saudi Arabia, the world’s biggest oil exporter, to withstand shocks and finance reforms using its deep-pocketed sovereign wealth fund, the Public Investment Fund. Meanwhile, speaking to Israeli media on Wednesday, the country’s Finance Minister Bezalel Smotrich said the direct cost of Israel’s war on Gaza was about 1 billion shekels ($246m) a day. He did not have an assessment of the indirect costs on an economy partly paralysed by the mass mobilisation of military reservists and rocket attacks by Palestinian armed groups. Smotrich was also unfazed by S&P Global’s downgrade on Tuesday of Israel’s outlook from “stable” to “negative”. “The negative outlook reflects the risk that the Israel-Hamas war could spread more widely or affect Israel’s credit metrics more negatively than we expect,” the credit ratings agency said. Smotrich called the downward revision “alarmist” and said he did not anticipate major Israeli deficits despite the crisis. Follow Al Jazeera English: |
2024-10-23 | Time | The Long-Symbolic Price Cap on Russian Oil Is Now Being Put to the Test | FRANKFURT, Germany — For months after Ukraine's Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. Most of Moscow's crude — its main moneymaker — cost less than that. But the cap was there in case oil prices rose — and would keep the Kremlin from pocketing extra profits to fund its war in Ukraine. That time has now come, putting the price cap to its most serious test so far and underlining its weaknesses. Russia's benchmark oil — often exported with Western ships required to obey sanctions — has traded above the price cap since mid-July, pumping hundreds of millions of dollars a day into the Kremlin's war chest. Read More:The World Has a Russian Oil Problem. Here's the Best Way to Solve It With Russia's profits rising, the Israel-Hamas war pushing up global oil prices and evidence that some traders and shippers are evading the cap, the first signs of enforcement are appearing 10 months after the price limit was imposed in December. But sanctions advocates say the crackdown needs to go further to really hurt Russia. Reducing oil profits “is the one thing that hits Russian macroeconomic stability the most," said Benjamin Hilgenstock, senior economist at the Kyiv School of Economics, which advises the Ukrainian government. Oil income is the linchpin of Russia’s economy, allowing President Vladimir Putin to pour money into the military while avoiding worsening inflation for everyday people and a currency collapse. Moscow's ability to sell more to the world than it buys means it's weathering sanctions far better than expected. Its economy will grow this year while Germany's shrinks, the International Monetary Fund estimates. Still, Russia's main source of income is at risk from stepped-up enforcement. The U.S. Treasury Department sanctioned two ship owners last week, while U.K. officials are investigating violations. Read More:How Putin Cannibalizes Russian Economy to Survive Personally Since the invasion began, oil sanctions have cost Russia $100 billion through August, said an internationalworking group on sanctionsat Stanford University. But most of that, economists say, stems from Europe's ban on Russian oil, which cost Moscow its main customer. “There are serious problems with the (price cap) policy, but it can work,” Hilgenstock said. “With some improvements, it can be very effective.” Vessels owned or insured by Western nations “persisted in loading Russian oil at all ports within Russia” in recent weeks as prices rose above the cap, the Helsinki-based Center for Research on Energy and Clean Air said in a report last week. “These occurrences serve as compelling evidence of violations against the price cap policy.” Russia’s oil income rose in September to some 200 million euros ($211 million) a day as global prices increased, the think tank said. Less oil available worldwide — with Saudi Arabia and Russia cutting production — pushed prices for Moscow’s key export grade crude to $74.46 last week, S&P Global Platts said. It's been above $60 since July 11. The price cap is meant to limit what Russia can earn without taking its supplies off the market. Doing that threatens a shortage that could drive up fuel costs and inflation in the U.S. and Europe. It relies on a key fact of the shipping industry: many vessel owners, traders and most insurers are based in Europe or the Group of Seven major democracies that imposed the price cap. That puts those companies within reach of sanctions. To comply, shipping companies need to know the price of Russia's oil. The cap, however, requires only a good-faith disclosure on a simple, one-page document with the names of the parties and the price. The actual sales contracts don't have to be revealed. And that, analysts say, has been an invitation for unscrupulous sellers to fudge — and for some shippers to adopt a see-no-evil approach. Suspicions about evasion grew when analysts noticed that oil from the Russian port of Kozmino on the Pacific Ocean — responsible for a relatively small share of Russia's exports — was trading well above the cap. That was even though many of the tankers stopping there were Western-owned, primarily Greek. There was little sign of enforcement action until last week, when the U.S. Treasury Department blocked a tanker owner in the United Arab Emirates and another in Turkey from dealings in the U.S. They're accused of carrying Russian oil priced at $75 and $80 per barrel while relying on U.S.-connected service providers. U.S. officials have warned insurers away from vessels that appear suspicious, a senior Treasury official told reporters last week. Thedepartment also issued recommendationsto scrutinize transport costs and watch for red flags of evasion. The U.K. Treasury says it is “actively undertaking a number of investigations into suspected breaches of the oil price cap.” There's another opportunity to sidestep the cap: the price is set as oil leaves Russia, not what's paid by a refinery in, say, India. The oil may be bought and sold several times by Russian-affiliated trading companies in countries not participating in sanctions. Excessive “transportation costs” may be added. The difference to the end price is pocketed by traders and stays in Russian hands, analysts say. “The problem is that no one really has any oversight as to what happens after the point of loading,” said Viktor Katona, lead crude analyst at data and analytics group Kpler. “And there's a reason why the shippers haven't really complained or haven't flagged any issues with the oil price cap — because it's very easily circumvented.” Russia's top energy official, Deputy Prime Minister Alexander Novak,told Radio Business FMon Oct. 13 that the cap was “not only ineffective, but harmful; it can completely distort the entire market and has only negative consequences, including for consumers.” Russia does not recognize the cap, and a decree by Putin forbids its inclusion in sales agreements, Novak said. U.S. officials, on the other hand, point to the losses it has inflicted on Moscow when combined with Europe's ban on Russian oil. That boycott forced exporters to send oil on monthlong voyages to Asia, instead of dayslong trips to Europe — essentially doubling Russia's need for expensive shipping services. Read More:Russia Wants a Committed Fossil Fuel Relationship. China Has Cold Feet Another cost is the “shadow fleet” of used tankers that Russia bought to dodge sanctions. It has only a third of the vessels it would need to completely sanctions-proof its oil shipments, saidCraig Kennedy, an associate at Harvard’s Davis Center for Russian and Eurasian Studies. That makes it hard for Russia to completely avoid Western-based shipping services. Combined with the EU oil ban, the price cap has added $35 per barrel in costs for Russian exporters, U.S. officials say — money that doesn't go to buy weapons and military equipment. “The price cap is working,” says Nataliia Shapoval, vice president for policy research at the Kyiv school. But Western allies “should take really urgent measures” to push oil from Russia's shadow fleet back to mainstream shipping, Shapoval said. To do that, the Stanford sanctions group says countries should demand proof of Western insurance before letting vessels pass chokepoints — now only recommended by the U.S. Treasury. Tanker owners also could be forced to take shipments only from approved oil traders based in sanctioning countries. —AP reporter Josh Boak contributed from Washington. |
2024-10-20 | Deadline | International Insider: Conflict Week Two; Big Questions At Mipcom; Saudi Setback | Good afternoon Insiders. We’re back after a busy week in Cannes and Max Goldbart is here helming your weekly dose of news and analysis. Read on andsign up here. Here for the long haul:We are approaching the two-week anniversary of the bloody Hamas massacre on Israel, and there is now a terrifying recognition that the region is in it for the long haul. This week has been about attempted damage limitation as Israel takes revenge on its attackers and Western nations rush to stem the flow of a crisis that is so far estimated to have claimed around 5,000 lives.Joe Bidenand UK Prime Minister Rishi Sunak have both visited, attempting to walk a tightrope in pledging their support for Israel while stressing the need for international law to be observed and innocent Palestinian lives to be spared. Biden was the most successful, securing a deal with Egypt to deliver aid to Gaza to ease the humanitarian crisis. News teams worldwide have been keeping track of the conflict 24/7 and if you are going to read one piece this week I would recommend Mel’s analysis of the Palestinian journalists navigating a blockade, bombs, and evacuation to keep the news flowing out of Gaza. “Often when people cover a conflict, they go somewhere to cover a conflict. Here, our staff are living in the middle of a conflict,” AFP Global News Director Phil Chetwynd tells Mel.Dive deeper here.Related StoriesBreaking NewsInternational Insider: Spotlighting Turkey & Greece; AFM Week; World Tackles AI; Israel-GazaCommentaryPeter Bart: War Is Hell. Onscreen, It's Also A Blur Events in disarray:In our world, Mipcom Director Lucy Smith kicked off the week by saying there would be increased security at the Cannes Palais. By this morning,four film festivals in the Middle East and North Africa– Cairo, El Gouna, Qatar’s Ajyal, and Tunisia’s Carthage Film Days – had been canceled as the packed fall film fest season shuts down in the region. In Europe, at least eight airports in France were evacuated for security reasons, leading to chaos for those traveling home from Mipcom, while the European Music Awards in Paris have beenshelved by Paramountdue to the “volatility of world events.” France has also been on high alert following the murder of a school teacher in the wake of the Hamas-led attack on Israel on October 7 in the town of Arras by a man wielding a knife. We wait to see what next week brings. All our coveragecan be read here. Correction and contraction:Jesse and I returned from Cannes a tad bleary-eyed yesterday. While Mipcom is always buzzy, major existential questions about the very future of the sector were posed throughout. Ourkey takeaways piece walksyou through the big discussion points but, in sum, it was the extent of the upcoming market contraction and correction that dominated chatter in the halls of the Croisette and the wealth of after-parties taking place on the strip. Expensive limited TV series appear particularly under threat, according to multiple sources, while various producers communicated concerns that the sector may have diminished a fair bit by the time the next Mipcom rolls around, reshaping local production ecologies. There is of course plenty to be optimistic about – the worst of the recession appears to be over and the actors strike is surely coming to an end soon – but it is no doubt a tricky time. The likes of Personality of the Year Bob Bakish (pictured – right), Eva Longoria, Canal+’s Maxime Saada and Mo Abudu were on hand to discuss, while Andrea Riseborough was alate surprise guest promotingChannel 4/PBS seriesAlice & Jackin conversation with Deadline’s very own Joe Utichi. Deals & projects:Mipcom has changed a fair bit over the years and TV deals really have become a 365-days-per-year business but that doesn’t mean there weren’t some juicy handshakes and buzzy projects for delegates to get their teeth into through the early part of the week. For ease, I’ve listed some here. Leading the charge, we revealed a James Franco-starring MENA TV series penned byShades of Bluescribe Adi Hasak. On Sunday, we told you about Beach House Pictures docLostand Banijay Rights taking onShinedirector Scott Hicks‘ projects about musician Ben Folds. Mediawan struck European deals for high-profile premiere seriesZorro, and Fremantle did similarfor Channel 4 formatThe Piano, whilePlanet Earth IIIsold to Australia. Perhaps the most fun market project doing the rounds wasour exclusive onThe Womblesbeing remade for TV, while we also brought news ofFast & Furiousstar Sung Kang’sThe Ride Lifedoc series, a feature on Israel’s Supernova Music festival –site of the October 7 massacre– and Vix’sTodo Lo Que Fuimos.Plenty more here. Chinese cinema spotlighted:Our Asia expert Liz Shackleton was covering the Pingyao Crouching Tiger Hidden Dragon International Film Festival (to give it its full name) this week and had several intriguing sit-downs with some of the continent’s buzziest names at a boutique event that focuses on non-western movies. Best Director winner Geng Zihandiscussed her debut featureA Song Sung BlueWednesday, about a teenage girl who is left with her father for the summer when her mother gets a job in Africa. She talked about the use of color palettes, censorship, and emerging filmmakers in China. Meanwhile, Choy Ji spoke about shifting Hong Kong-Mainland China ties in cross-border dramaBorrowed Time, Zhang Yu delved deep into her rape survival dramaKilling the Violetand satirical comedyThe Movie Emperorwas spotlightedby its director Ning Hao. In a week in which Chinese delegates headed out to Mipcom, the future of this region’s film and TV industry continues to intrigue. All of Liz’s coverage can be foundhere. “Difficult decisions”:Daytime TV shows with more than 5,000 combined episodes were axed this week by the BBC and Channel 4. Long-running drama seriesDoctorsand chatshowSteph’s Packed Lunchwill be no more from next year, as the broadcasters grapple with the need to make cost savings while embracing a digital future. “Difficult decisions” have to be made, according to the channel’s respective content bosses, who both stressed that the money saved will be reinvested in shows from their regions. TheDoctorscullirked Britain’s TV drama community, with the show having launched the careers of some of today’s best UK scribes and been seen by many as a model for diversity. But continuing dramas likeDoctorsstruggle to attract co-production funding, and with the license fee still frozen, more “difficult decisions” could be incoming. ‘They Shut Us’:Saudi Arabia has become a major production option for many Hollywood and international shoots in recent years, as the country has gone from purposeful outsider to a nation determined to be the Middle Eastern market leader. Films such as Anthony Mackie’s picDesert Warriorand Gerard Butler’s titleKandaharshot there recently, and many more could come, as ourexclusive interviewwith MBC Studios Managing Director Christina Wayne revealed this week. However, the country suffered a setback when Neill Blomkamp’s alien abduction thrillerThey Found Usshut down during pre-production ahead of shooting,as Andreas revealed. The AGC Studios-backed pic, which was one of a handful being made in collaboration with Saudi production center Neom, is reworking its financing. While Saudi Arabia is hundreds of miles from the Israel-Gaza crisis, Andreas’ story noted that getting insurance on indie flicks like this could become harder and travel more expensive and difficult to organize as the conflict rumbles on. There are, at present, other big productions filming in the country. Whatever the case,They Found Uscast, including star Joel Kinnaman, will not travel to the Gulf state until there’s a resolution, which should hopefully come in the next few months. 🌶️Hot One: James McAvoy willmake his directorial debuton a movie about two Scottish lads who conned the international music industry. 🌶️Another hot oneSherlockco-creator Mark Gatissis adaptingArthur Conan Doyle’sLot No. 249for the BBC. 🌶️Another one: New Europe Film Saleshas taken internationalon Northern Irish director Aislinn Clarke’s second featureFréwaka. 🏆Awards:Ryusuke Hamaguchi’sEvil Does Not Existwon Best Filmas London Film Fest drew to a close. 📈Ratings:Beckhamscored for Netflixwith a chart-topping performance. 🧑New job: For BBC Studios’ Caroline Stone,who moved tothe UK branch of French film company Pathé. 🤝Done deal:Newen StudiosboughtMarie Guillaumond’s Felicita. 🏪Setting up shop: Australia’s Causeway Filmsopened a London officeand appointed Daniel Negret as its Chief Executive Officer. 🖼️First look: AtDiana’s final daysinThe CrownS6 P1 🎥Trailer:ForTiger 3, thelatest installmentin producer Aditya Chopra’s YRF Spy Universe. Jesse Whittock contributed to this week’s Insider |
2024-10-31 | Business Insider | An ancient Egyptian book of spells to guide the dead in the afterlife was found buried with mummies | Archaeologists excavating a 3,500-year-old cemetery have discovered an ancient Egyptian"Book of the Dead"filled with spells to guide the deceased in the afterlife. Thescroll, which was revealed as part of a presentation of the latest archaeological finds from the Tuna al-Gebel cemetery in central Egypt, is estimated to be 43 to 49 feet long. Such scrolls were a common component of burials in ancient Egypt, and their incantations were a form of supernatural "travel insurance", according to Sara Cole, an assistant curator in the Antiquities Department at the J. Paul Getty Museum, speaking toThe New York Times. An early examination of the scroll found in Tuna al-Gebel revealed a mention of the "Book of the Dead," the Egyptian Ministry of Tourism and Antiquities said ina statementon October 15 translated from Arabic. The scroll was not the only treasure found at the site, which was established during the New Kingdom dating back to circa 1550 to 1070 B.C. Archaeologists foundmummies, thought to belong to high-ranking officials, some of which were still in their ornate stone sarcophagi in good state of preservation, perLive Science. This includes the mummy of Ta-de-Isa, the daughter of a high priest, Live Science reported. The find also uncovered rare canopic jars made of alabaster, used to store spiritually important organs during mummification, and "thousands" of amulets, per the statement. Findinga copyof the "Book of the Dead" is not that uncommon. But it is "very rare" to find one still in the grave where it was buried, Foy Scalf, an Egyptologist at the University of Chicago, told Live Science in an email. Scalf noted, however, that not much information has been released about the scroll, and it is difficult to know just how important it is without further scrutiny. Lara Weiss, an expert on the "Book of the Dead" and CEO of the Roemer and Pelizaeus Museum in Germany, told Live Science that "if it's that long and well-preserved [then it's] certainly a great and interesting find." The journey to the afterlife was thought to be quite difficult, and this set of instructions, placed with the deceased in the grave, was meant to help the spirit find its way there, John Taylor, the British Museum's Curator of Ancient Egypt and Sudan, said ina blog postin 2010. These were quite pricey as you had to write your name into the scroll for it to work. Some were written from a template so that the name of the deceased could be added in a blank space. But the wealthiest could pick which spells they wanted to include, making these scrolls unique. |
2024-10-08 | Al Jazeera English | The people vying for Liberia’s presidency on October 10 | President George Weah, who is seeking a second six-year term, is up against 19 other candidates, on Tuesday. Monrovia, Liberia– On Tuesday, over 2.4 million Liberians head to the polls to elect a president and members of their legislature. Currently, there are 19 candidates hoping to replace incumbent President George Weah of the Coalition of Democratic Change (CDC), who is seeking a second six-year term. The two main challengers are former vice president Joseph Nyuma Boakai and businessman Alexander Cummings. Both men were previously in a four-party opposition alliance, the Coalition of Political Parties (CPP). However, despite initial success, the coalition has since broken up after reported disagreements over who gets the presidential ticket in this election cycle. Also in the running is Liberian People’s Party’s Tiawan Gongloe, a renowned human rights lawyer and professor of law who served as the country’s solicitor general during the Ellen Johnson-Sirleaf administration. The former president became Africa’s first elected female leader in 2006, but inclusivity in politics is still a mirage in many parts of the continent, including her native Liberia. Only two of the 20 contenders in Tuesday’s presidential vote are women, one of whom is Sara Nyanti, a former deputy special representative in the United Nations Mission in South Sudan. Weah, who is running for a second term, has boasted that he will secure outright victory in the first round of elections. He has been in office since 2017. CDC’s Weah has kept current vice president, Jewel Howard-Taylor, as his running mate. Howard-Taylor is the ex-wife of former president Charles Taylor who is serving a 50-year sentence for crimes against humanity committed in neighbouring Sierra Leone, in a British prison. Weah, 57, has said his performance will be enough to secure re-election. He counts as achievement a free tuition scheme for undergraduates of public universities that was instituted in 2018. Weah’s government also pays the West African Senior School Certificate Examination (WASSCE) fees for 9th and 12th graders in public schools. Furthermore, the government has increased electricity access and reduced costs from 38 cents per kilowatt to an average of 15 cents per kilowatt. The administration has also embarked on several road construction projects around the country. Despite these, critics say corruption has been widespread under Weah. They also point to the state of the economy and rising food prices which led to protests in December last year and in June of 2019 as as indicative of government failure. In his manifesto, Weah has promised to reduce out-of-pocket payment for medical expenses through a compulsory social health insurance scheme and has also promised to provide off-the-grid solar energy for public hospitals and secondary schools. He has also promised to create sustainable jobs by formalising artisanal and small-scale mining activities and providing public prosecutors with sexual and gender-based violence training. Joseph Boakai With decades of experience in Liberia’s public sector, Boakai has widespread name recognition and is now aiming for the presidency, under the Unity Party (UP). The 78-year-old was previously minister of agriculture from 1983 to 1985. He was also vice president from 2006 to 2018, to Johnson-Sirleaf. This year, Boakai is in an alliance with the Movement for Democracy and Reconstruction (MDR), founded by former warlord-turned-senator Prince Johnson. Consequently, Boakai has selected MDR senator Jeremiah Koung as his running mate. Johnson and Koung hail from and wield significant influence in Nimba, the second most populous county in the country. MDR previously entered into an alliance with CDC in 2017, supporting it in the second round of elections that Weah eventually won. The alliance dissolved in 2022 amidst Johnson’s complaints of a lack of job opportunities for “his people”. For many, Boakai’s second attempt at the presidency is a rematch with Weah after both men faced each other in 2017. Both men proceeded to the second round after none attained the required absolute majority to claim victory in the first round, Weah eventually won. Building on his experience, Boakai has made agriculture a key campaign issue, vowing to increase domestic rice production and to set up three agricultural machinery hubs in the country. He has also promised to pave the highways connecting county capitals and those connecting Liberia to other countries, in order to improve cross-border trading. The former vice president has also promised to work with the legislature to establish a specialised court to fast-track cases of corruption and economic crimes and to support the private sector in developing programs for recycling solid waste into producing renewable energy. However, critics have said that at 78 years old, Boakai is too old to govern. Boakai has also been accused of facing health challenges, which he has denied. Alexander Cummings Alexander Cummings first became known on the Liberian political scene when he contested for the presidency in 2017 and placed fifth. This year, he is running on the platform of the Collaborating Political Party (CPP), a coalition between Cumming’s Alternative National Congress and the Liberty Party. Cummings, 57, served as the head of Coca-Cola’s African subsidiary between 2001 and 2008 and as its global chief administrative officer from 2008 till he retired in 2016. In his role at Coca-Cola, he oversaw the creation of its Africa Foundation which helped in the continental response to the spread of HIV/AIDS. In 2011, he was awarded Liberia’s highest national honour – the Humane Order of African Redemption – by Johnson-Sirleaf for his humanitarian work. Cummings has centred his campaign on diversifying Liberia’s economy. To this end, he has promised to establish a $20m empowerment fund to support women and youth-owned businesses as well as farmers within his first 100 days in office if he wins, while freezing all current tax and regulations to review in order to create a business-friendly environment. He has also spoken of a “buy Liberian” policy that will prioritise buying locally-made products to boost indigenous businesses. Lastly, he has expressed support for the establishment of a war crimes court to prosecute key characters in the country’s civil wars of 1989-1997 and 1999-2003. Follow Al Jazeera English: |
2024-10-24 | CNA | Phuket hotel wins Singapore court bid for insurers to give payout over COVID-19 closure | SINGAPORE: A Phuket hotel whose operations were interrupted by the COVID-19 outbreak has won a Singapore court case to get two insurers to grant payouts for losses incurred by the resort. In an oral judgment released on Monday (Oct 23) but dated March 2022, Justice Pang Khang Chau ruled in favour of the Relax Beach entity, for the business interruption it suffered for its insured hotel in Thailand, the Le Meridien Phuket Beach Resort. The insurers involved are QBE Insurance (Singapore) and MS First Capital Insurance. Since 2016, Le Meridien Phuket has been insured under two policies. The first is a local policy issued by King Wai Insurance (KWG), a Thai associate of QBE Insurance (Singapore). The second is a master policy issued by both QBE Insurance (Singapore) and MS First Capital Insurance in Singapore. The hotel was insured against any partial or whole closure of its premises by the order of a public authority, as a result of an outbreak of a human infectious or contagious diseases at its premises. The Thai government and the local Phuket provincial government implemented a series of measures in 2020 because of increasing COVID-19 cases. These culminated in an order by the Phuket governor on Apr 2, 2020, closing all hotels with effect from Apr 4, 2020. On Apr 3, 2020, the hotel notified KWG that it intended to make a business interruption claim. On May 25, 2020, KWG told the hotel there was no business interruption cover under the local policy, and that the claim should be made against the master policy. The hotel then did so the next day. That same day, QBE Insurance (Singapore) responded to ask whether there had been any outbreak of COVID-19 at the hotel. The hotel's insurance broker responded in the negative the next day, and the claim was rejected on the basis that the business interruption cover required an outbreak of infectious diseases at the hotel. In fact, one of the hotel's employees had developed COVID-19 symptoms on Mar 24, 2020, and was hospitalised from Mar 26, 2020 to Apr 1, 2020. Justice Pang said it was "more likely than not" that the hotel employee's diagnosis and hospitalisation formed part of the statistics informing the deliberation of Phuket's Committee of Communicable Disease, and the decision of the Phuket governor. He ordered that the two insurers were liable to indemnify Le Meridien Phuket Beach Resort for loss resulting directly from the interruption of or interference with its business, as a consequence of the closure ordered by the Phuket governor. The quantum of the indemnity shall be determined in accordance with the mechanisms provided in the relevant insurance policy. He awarded costs in favour of the hotel, fixed at S$20,000. |
2024-10-20 | CNA | Who spent what: 5 things we learnt from the expense filings of the Presidential Election candidates | SINGAPORE: It was revealed on Friday (Oct 20) that Mr Tharman Shanmugaratnam, the eventual winner of the 2023 Presidential Election, spentmore than S$700,000(US$510,000) on his campaign, dwarfing the amounts shelled out by the other two candidates, Mr Ng Kok Song and Mr Tan Kin Lian. The Elections Department released the expenditure reports for inspection and they will remain online for six months, until April 2024. From the mundane (taxi claims) to the unexpected (copyright licences), the documents give an insight into how the three men tried to navigate their way to the Istana. We followed the money - all 710 pages of the three reports - and here's what we found: If you were a volunteer in the Tharman campaign, you would have been covered by insurance in case something had happened to you. A group personal accident insurance policy costing S$4,536 was taken out for 12,000 people on polling day (Sep 1) and the day after. The main activities described in the policy document: Polling and counting. The sum insured totalled S$20,500 per person, covering accidental death, permanent disability and medical expenses for injury. The insurance company was NTUC Income and Mr Tharman was the only candidate who appeared to have purchased insurance coverage for his volunteers. |
2024-10-10 | CNA | Singaporeans living in Israel and Palestinian Territories should leave as soon as possible: MFA | SINGAPORE: Singaporeans living in Israel and the Palestinian Territories should leave as soon as possible via commercial options, the Ministry of Foreign Affairs (MFA) said on Tuesday (Oct 10),stepping up an earlier advisory. The ministry had previously advised Singaporeans to avoid all travel to the Gaza Strip, the West Bank and Israel’s borders with the Gaza Strip, Lebanon and Syria. It added that Singaporeans should avoid all non-essential travel to Israel in view of the Israel-Hamas conflict. "In view of the latest developments, Singaporeans travelling to or residing in Israel and the Palestinian Territories should leave Israel as soon as possible via available commercial options," MFA said on Tuesday. "Those who wish to remain in Israel are advised to remain vigilant, monitor local developments closely, and avoid areas known for public disturbances or where large crowds congregate, especially in the Old City and East Jerusalem including Haram al-Sharif/Temple Mount. "They should take all necessary precautions for personal safety including purchasing comprehensive travel and medical insurance." Israel kept up its bombardment of Hamas-controlled Gaza on Tuesday after themilitant group threatened to execute some of the hostagesit abducted in aweekend assaultevery time air strikes bombed a Palestinian home without warning. The death toll has risen to more than 900 in Israel, while at least 687 Palestinians have been killed. The Israeli military also called up an unprecedented 300,000 reservists and imposed a blockade on the Gaza Strip, raising fears it planned a ground assault. Singapore on Saturdaystrongly condemned the rocket and terror attackson Israel and called for an immediate end to the violence. In its travel advisory, MFA saidSingaporeans are strongly encouraged toe-register with the ministryso that it can contact them if necessary. “Singaporeans are also advised to stay in touch with your family and friends so that they know you are safe,” it added. Those who require consular assistance while in Israel or the Palestinian Territories may contact the Singapore Embassy in Tel Aviv or the Ministry of Foreign Affairs Duty Office (24 hours) at: Singapore Embassy in Tel AvivAddress: 28 HaArba’a Street South Tower, 19th floorTel Aviv 6473926Israel Tel: +972 3 7289334Fax: +972 3 7289340Email:singemb_tlv[at]mfa.sg MFA Duty OfficeTel: +65 6379 8800/8855Fax: +65 6476 7302Email:mfa_duty_officer[at]mfa.gov.sg |
2024-10-08 | CNA | Singaporeans should avoid all travel to Gaza Strip, West Bank amid attacks on Israel: MFA | SINGAPORE: Singaporeans should avoid all travel to the Gaza Strip, the West Bank and Israel’s borders with the Gaza Strip, Lebanon and Syria, the Ministry of Foreign Affairs (MFA) said on Sunday (Oct 8). Singaporeans are also advised to avoid all non-essential travel to Israel in view ofthe ongoing conflict, said the ministry in a travel advisory, noting that there has been ongoing rocket fire between Israel and the Gaza Strip. Palestinian militant group Hamason Saturday launched the biggest attack on Israel in years, with hundreds now dead on both sides and spiralling violence threatening a major new Middle East war. Prime Minister Benjamin Netanyahu said Israel is “at war” and ordered an extensive mobilisation of army reserves. Singaporestrongly condemned the rocket and terror attacksfrom Gaza on Israel and called for an immediate end to the violence. In its advisory, MFA said Singaporeans travelling to or residing in Israel and the Palestinian Territories should remain vigilant and monitor local developments closely. They should avoid areas known for public disturbances or where large crowds congregate, especially in the Old City and East Jerusalem including Haram al-Sharif/Temple Mount. All necessary precautions for personal safety should be taken, including purchasing comprehensive travel and medical insurance, added the ministry. Singaporeans are also strongly encouraged toe-register with MFAso that the ministry can contact them should the need arise. “Singaporeans are also advised to stay in touch with your family and friends so that they know you are safe,” it said. Those who require consular assistance while in Israel or the Palestinian Territories may contact the Singapore Embassy in Tel Aviv or the Ministry of Foreign Affairs Duty Office (24 hours) at: Singapore Embassy in Tel AvivAddress: 28 HaArba’a Street South Tower, 19th floorTel Aviv 6473926Israel Tel: +972 3 7289334Fax: +972 3 7289340Email:singemb_tlv[at]mfa.sg MFA Duty OfficeTel: +65 6379 8800/8855Fax: +65 6476 7302Email:mfa_duty_officer[at]mfa.gov.sg |
2024-10-05 | The Times of India | What tax filings say about India’s consumption story | Getty Images Sales of cars, requiring far greater discretionary expenditure than for twowheelers, rose 53% between 2012 and 2023. Motorcycle and scooter sales climbed 22%, reflecting the relative underperformance of stocks such as Hero MotoCorp The rich getting richer appears to be true with the pace of increase in tax fi lings by high-income earners outstripping those with less than `5 lakh in annual income . This could benefit carmakers, insurers, mutual funds , jewellers, multiplexes and hospitals, says BNP Paribas in a note. Income tax filers with income above Rs 10 lakh have grown 20% between 2012 and 2021 vs 4.5% for those with less than Rs 5 lakh in income. The number of tax payers above Rs 5 lakh in earnings has risen to 29 million by 2021, from 5.6 million in 2012 People with income of more than Rs 10 lakh has also surged to 8 million from 1.6 million The pandemic appears to have dented the earnings profile of the relative stragglers in the filing pyramid. While the number of those filing with incomes of Rs 20 lakh a year rose 25% over FY19, those in the `10-20 lakh bracket increased by 24%. But the number of those earning less than Rs 5 lakh declined 20% Sales of cars, requiring far greater discretionary expenditure than for twowheelers, rose 53% between 2012 and 2023. Motorcycle and scooter sales climbed 22%, reflecting the relative underperformance of stocks such as Hero MotoCorp Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on tax filings consumption BNP Paribas mutual funds income car sales (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-10-12 | The Times of India | India slips four ranks in global hunger index 2023; govt says flawed methodology | Navbharat Times Representative Image India slipped four ranks in the global hunger index to 111 out of 125 countries from 107 in the previous year, according to the new rankings released Thursday. But the government contested the report’s methodology, calling it erroneous and mala fide. “The Global Hunger Index continues to be a flawed measure of ‘Hunger’ and does not reflect India’s true position,” the ministry of women and child development noted in its response to the report. “The index is an erroneous measure of hunger and suffers from serious methodological issues,” it further said. The report places India below its neighbours Pakistan (102), Bangladesh (81) and Nepal (69) in the index. It points out that India had the worst rates of wasting, with 18.7% of the children under five who have low weight for their height. “India has the highest child wasting rate in the world, at 18.7%, reflecting acute undernutrition,” it said. In contrast, the government noted that its own Poshan Tracker, which has been lauded as a game changer by international organisations, showed a wasting rate below 7.2%. The government tracks over seven crore children with the Poshan Tracker. “Three out of the four indicators used for calculation of the index are related to the health of children and cannot be representative of the entire population. The fourth and most important indicator, ‘Proportion of Undernourished (PoU) population,’ is based on an opinion poll conducted on a very small sample size of 3000,” it further pointed, poking holes at the GHI methodology. The GHI study also noted a higher rate of anaemia in women aged 15-24 in India at 58.5% compared to some of the African countries like Sierra Leone, Gambia and Benin. The report notes an improvement in stunting and mortality rates in the country in 2023 compared with 2015 but pointed to a worsening of wasting rates and undernourished population. The share of the undernourished population, as per the study, increased from 14% between 2014-16 to 16.6% between 2020-22, the report stated. “Stunting and Wasting are outcomes of complex interactions of various other factors like sanitation, genetics, environment and utilisation of food intake apart from hunger, which is taken as the causative/outcome factor for stunting and wasting in the GHI. Also, there is hardly any evidence that the fourth indicator, namely, child mortality, is an outcome of hunger,” the ministry said. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on global hunger india hunger measure women and child development ministry global hunger index 2023 Pakistan (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-16 | The Times of India | Why we are all Sanmarinese tonight | ET Bureau Representative image Afghanistan 's fabulous win on Sunday against defending champs England is one of the Big 'Uns not just for cricket but also for sport. When a Goliath is toppled by a David, its shock waves are felt even by neutral sports fans. But this 'magic victory' brings us to our appeal that you follow and, indeed, support the San Marino men's national football team as they meet Denmark in the football Euro Qualifiers after midnight IST tonight. In case, just in case, this European microstate enclaved by Italy manages to win, it will be kinda historic. And a draw will be like a win. Why? Because the Sanmarinese side haven't won a single game since April 28, 2004. In fact, apart from that 1-0 win against Liechtenstein, this worst footballing nation according to Fifa ranking (207th) have never won a game. What makes San Marino such a footballing oddity is that by dint of being a European republic, its usual international jousts in qualifiers like the Euro or World Cup take place against familiar and decent European footballing sides. Be that as it may, the side's fan club 'Never Any Joy Brigade', which takes ironic pride in seeing their side having never won a game since its formation in 2012, will be following the game against Denmark keenly. And, in case, just in case, San Marino manages to bring out a giant David to the stage against the Danes tonight. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on england football Euro cricket win Euro san marino denmark italy afghanistan Fifa Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-09 | RT | Russia to send free grain to Africa – agriculture minister | Russia will start free grain deliveries to African countries within the next six weeks, the country’s Agriculture Minister Dmitry Patrushev announced on Friday. “We are now finalizing all the documents. I think that within a month, or a month and a half, they will start,”the official said. Russian President Vladimir Putin had previously announced that Moscow would send up to 50,000 tons of grain to six African countries at no cost. Putin noted that Russia would provide Africa with tens of thousands of tons of free grain even as international restrictions have dramatically complicated exports of its agricultural produce and fertilizers, in terms of transport logistics, insurance and payments. “We will be ready to provide Burkina Faso, Zimbabwe, Mali, Somalia, Central African Republic and Eritrea with 25-50,000 tons of free grain each in the next three to four months,”Putin told a Russia-Africa summit in July, adding that his country would also cover the delivery costs. The development comes after Moscow refused to renew the Black Sea Grain Initiative that was aimed at allowing Ukraine to export grain from its ports to countries in Asia, the Middle East and Africa, in exchange for lifting Western sanctions that prevented Russian agricultural exports. Moscow withdrew from the agreement in July, saying that Western countries were still making it impossible for Russia to ship food and fertilizer. Russia exported 11.5 million tons of grain to Africa in 2022, despite Western sanctions affecting the supply of Russian food products to developing countries. For more stories on economy & finance visitRT's business section |
2024-10-02 | Marketscreener.com | Tingo Group Announces Appointments of Group Chief Financial Officer, Independent Director & Strategic Growth Committee Chairman and Chief Audit Executive | MONTVALE, N.J., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech, and food company, today announced a further significant strengthening of its Board of Directors and Executive Team through the appointments of Amir Ayalon as the Group’s Chief Financial Officer, C. Derek Campbell as a Group Independent Director and Chairman of the Company’s new Strategic Growth Committee, and Gabriel David as Chief Audit Executive. All three appointments, which are effective immediately, bring a wealth of financial, strategic and leadership expertise and experience to the Company. Having qualified as a Certified Public Accountant with Ernst & Young at the start of his career, Mr. Ayalon’s experience as an accomplished CEO and Executive at numerous public and private growth companies in the technology and food manufacturing sectors, as an investment banker with UBS and Bank of America, and as Chief Executive Officer of one of Israel’s largest hedge funds, makes him uniquely qualified for the position of Group CFO, and to work with the Company’s Co-CEOs and management team to execute its growth plans and maximize the group’s potential. Mr. Ayalon is a highly accomplished senior executive with over 20 years of cross-industrial involvement in global financial advisory and investment, as well as operational management roles within corporates, hedge funds and investment banks. Mr. Ayalon’s operational experience spans a variety of industries including fintech, financial services, software and food manufacturing, which are complementary to the Company’s business. Until earlier this year, Mr. Ayalon served as CEO of Celsius Mining, where he was instrumental in rapidly building and scaling the business to a multi-billion-dollar valuation and preparing the company for its planned IPO in mid-2022. Prior to joining Celsius Mining, Mr. Ayalon served in multiple roles including as CEO of a private capital raising and M&A advisory firm, as well as CEO of two venture stage technology companies. From 2011 to 2015, Mr. Ayalon was the CEO of Sphera Funds Management, one of Israel’s largest hedge funds with offices in Tel Aviv and New York City, prior to which he worked as an M&A banker with UBS and Bank of America, was head of M&A at Nasdaq listed company, Amdocs, and head of corporate development at Tel Aviv Stock Exchange listed company, Strauss Group. Mr. Ayalon also served on the board of Fruitura Bioscience Ltd., an emerging nutraceutical and food manufacturing company from 2011 to 2015 and holds a Bachelor of Arts degree in Accounting & Economics from Tel Aviv University and a Master of Business Administration from Duke University. The appointment of C. Derek Campbell as a Group Independent Director and Chairman of the new Strategic Growth Committee at Tingo represents a significant enhancement to our board. Mr. Campbell is an experienced senior executive leader and strategic advisor with business interests across the energy, natural resources, infrastructure, security, and defense sectors. He is the Group Managing Partner of LVC Global Holdings, LLC, an international asset acquisition, investment, and consulting platform that optimizes and monetizes opportunity flow across the Emerging and Frontier Markets, with a particular focus on Africa. Mr. Campbell is also a Distinguished Fellow of the Global Federation of Competitiveness Councils, a former Principal Committee Member of U.S. EXIM Bank’s Sub-Saharan Africa Advisory Committee, and a former Advisory Board Member of the African Energy Chamber. He holds a Bachelor of Science Degree from the University of Maryland and a Master of Strategic Studies from the U.S. Army War College. Additionally, Mr. Campbell is a Colonel in the United States Marine Corps Reserves, having served with distinction in operational combat tours in Iraq, Afghanistan, and South Sudan. He also served in high-level staff tours as the U.S. Marine & Naval Attaché to Nigeria, the Chief of Military Plans for the U.N. Mission in South Sudan (UNMISS), and the U.S. Marine Corps Liaison Officer to the Defense Threat Reduction Agency (DTRA). The Company has also appointed Gabriel David as Chief Audit Executive. Mr. David has extensive experience as a financial compliance and internal audit leader with international public companies. Prior to joining Tingo, Mr. David was Regional Director of Financial Compliance at Orbia, a company providing specialty products and methodologies in the agriculture, building and infrastructure and data communications sectors. He was the Corporate Internal Auditor at Nasdaq listed Tower Semiconductor and Newport Corporation, where he was responsible for all internal audit staff and assignments; and also served with Ernst & Young in Israel and Australia for seven years, specializing in risk advisory, internal audit and SOX compliance. Mr. David is a Certified Fraud Examiner of the Association of Certified Fraud Examiners, Member of the Institute of Internal Auditors, and Member of the Institute of Chartered Accountants in Australia. Mr. David holds bachelor’s degrees in Commerce and Accounting & Information Systems from the University of New South Wales. Concurrent with the above three appointments, the Company’s current Group Chief Financial Officer, Kevin Chen, will move into the position of Asia Chief Financial Officer to oversee the finances of the Company’s businesses in China, Hong Kong and Singapore. John Scott, Chairman of Tingo Group, Inc.commented: “We welcome Amir, Derek and Gabriel to the Company and look forward to working with them in their respective roles. We are delighted to be in a position to benefit from the new appointees’ collective skillsets and extensive experience covering a broad spectrum of specialties, all of which should prove hugely valuable as we expand and develop our business further.” Dozy Mmobuosi, Interim Co-Chief Executive Officer of Tingo Group, Inc.commented: “Amir’s appointment, with his depth and breadth of experience in leading and growing public companies and overseeing their finances, as well as in investment banking and financial institutions, represents a significant strengthening of our executive team. This, alongside the appointment of Gabriel, will also further improve our internal audit function and develop and implement additional internal controls. In addition, Derek’s vast experience in Africa will provide valuable insight to the Board and help us expand our reach across the African Continent and improve the profile and status of our Company in the U.S. and global markets.” Ken Denos, Interim Co-Chief Executive Officer of Tingo Group, Inc.commented: “Amir Ayalon and Gabriel David join us at a critically important time as we continue to strengthen our internal infrastructure, financial management, internal controls and financial reporting to position the Company for further growth and development. C. Derek Campbell’s appointment is equally important, bearing in mind his extensive U.S. and Africa diplomatic and strategic experience, as we seek to improve the market’s awareness of the Company and our vision.” About Tingo Group Tingo Group, Inc. (Nasdaq: TIO) is a global Fintech and Agri-Fintech group of companies with operations in Africa, Southeast Asia and the Middle East. Tingo Group’s wholly owned subsidiary, Tingo Mobile, is a leading Agri-Fintech company operating in Africa, with a comprehensive portfolio of innovative products, including a ‘device as a service’ smartphone and a value-added service platform. As part of its globalization strategy, Tingo Mobile has recently begun to expand internationally and entered into trade partnerships that are contracted to increase the number of subscribed farmers from 9.3 million in 2022 to more than 32 million, providing them with access to services including, among others, the Nwassa ‘seed-to-sale’ marketplace platform, insurance, micro-finance, and mobile phone and data top-up. Tingo Group’s other Tingo business verticals include: TingoPay, a SuperApp in partnership with Visa, offering a wide range of B2C and B2B services including payment services, an e-wallet, foreign exchange and merchant services; Tingo Foods, a food processing business that processes raw foods into finished products such as rice, groundnut oil, nut products, wheat, millet and maize; and Tingo DMCC, a commodity trading platform and agricultural commodities export business based out of the Dubai Multi Commodities Center. In addition to its Tingo business verticals, Tingo Group also holds and operates an insurance brokerage platform business in China; and Magpie Securities, a regulated finance services Fintech business operating out of Hong Kong and Singapore. For more information visittingogroup.com. Disclaimer The information in this news release includes certain information and statements about management and the Company’s board of director’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by the Company and: (i) the results of the independent review; (ii) the risk of restatement of the Company’s previously reported financial statements or the identification of one or more material weaknesses in internal control over financial reporting; (iii) costs relating to the independent review, which are likely to be material; (iv) the outcome of any legal proceedings that may be instituted against the Company, including as may result from the independent review and (v) the ability to meet stock exchange continued listing standards. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Investor Relations Contact949-491-8235TIO@mzgroup.uswww.mzgroup.us |
2024-11-01 | Business Insider | Swedish architects are building skyscrapers out of wood laminates glued together. The material is shockingly sturdy. | The materials may sound like the makings of a shoddyIKEAdresser — but the glued laminate timber that partially makes upSweden's latest architectural wondercould offer a glimpse at future skyscrapers. In Sweden, architects are attempting to journey back to the days before concrete, bricks, and steel, and building impressive towers made with timber, TheWashington Post reported. The shift to timber is meant to bringsustainabilityback to building practices, the architects told the Post, and builders have already constructed a $110 million proof-of-concept called the Sara Cultural Center in Skelleftea, Sweden,to show that the sky is the limit when it comes to wooden structures. "The municipality was asking for a 'brave building,' and this is what we tried to do," Robert Schmitz, a lead architect at White Arkitekter, the firm behind the Sara Cultural Center, told the Post. Nearly every part of the Sara center is built with prefabricated wood, and features grand halls, ginormous ceiling fixtures and art displays, and expansive views. Per the Post, visitors of the center can peruse the public library, banquet halls, and three theaters. If they prefer a longer stay, the site has a hotel with a restaurant, pool, and spa. The dream of wood architecture in Sweden doesn't stop with the architects of the Sara center — inStockholm,plans are underway to build an entire wooden city center. The architects told the Post that, at least in the heavily forested areas of Sweden,wood-based architecture is the future of sustainable building for several reasons. These buildings don't depend on cement. The building material's emissions have grown faster than most other single sources of carbon dioxide thanks to their increased demand and production,Inside Climate Newsreported. Cement manufacturing accounts for 8% of global greenhouse gas emissions, research from theUniversity of Rochestershows. They also don't depend on steel. The material's manufacturing accounts for 7 to 9% of global anthropogenic CO2 emissions, per theWorld Steel Association. White Arkitekter also claims that their process will be carbon negative, the Post reported, because the buildings themselves will store nearly 9,100 tons of carbon dioxide — offsetting the carbon used to transport and build the structures themselves. And while fire is a concern, the Sara center's architects told the publication that there are processes in place to ensure the safety of these buildings, such as using fire-resistant coatings on buildings. The trend of timber structures is not limited to Sweden, the Post reported. Across Europe, Asia, and even in the US, wood towers are becoming a more common building material, reinforced by a desire tocombat climate change. The Post reported that this could become more common in the coming years as countries in Europe and the US begin to account for wood structures in their building codes. According to aReuters analysis, the use of wood laminate in the US could significantly increase as a result of its inclusion to US building codes, as well as insurance coverage of wood-built structures. This movement is not limited to wood. In places likeWest Africa, architects like Diébédo Francis Kéré are turning back to traditional building materials like soil, stone, and vegetation assustainable building materials. "The built environment — as it is built now — is not sustainable," Michael Green, the author of "The Case for Tall Wood Buildings," told the Post. |
2024-10-27 | International Business Times | Tesla Workers Strike In Sweden Over Union Demands | Tesla mechanics in Sweden walked off the job on Friday to protest against the electric carmaker's refusal to sign a collective wage agreement, the metalworkers union said. The strike affects around Tesla's 130 mechanics at seven workshops across Sweden, IF Metall union spokesman Jesper Pettersson told AFP. Pettersson said Tesla employees had "lower wages, don't have the same insurances, and have lower pensions" than other industry workers. Negotiated sector-by-sector, collective agreements are the basis of the Swedish labour market model, covering almost 90 percent of all Swedish employees and guaranteeing standard wages and working conditions. IF Metall -- which has some 300,000 members -- said the agreements also allow for companies "to operate on a level playing field". "Many" of Tesla's workers in Sweden are members of IF Metall, Pettersson said, but would not disclose an exact number. Despite being union members, they cannot benefit from industry-wide collective bargaining agreements. Pettersson said Tesla informed them Tuesday it would not sign a collective bargaining agreement, adding that the carmaker told the union they "don't do that anywhere in the world." Tesla has not responded to AFP's request for comment. Tesla founder and chief Elon Musk has consistently rejected calls to allow the company's 127,000 employees worldwide to unionise. Tesla strikers in Sweden were being paid compensation by the union equivalent to their wages, Pettersson said. He said that unless Tesla changed its position, IF Metall would widen its strike on November 3 to cover all workshop repairs on Tesla cars across Sweden, not just those done by Tesla employees. |
2024-10-12 | GlobeNewswire | Bitget Protection Fund Valuation Report - September 2023 | Victoria, Seychelles, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Bitget, top crypto derivatives andcopy trading platform, has released its Protection Fund Valuation Report for September 2023. Despite the market movement, the fund's value has consistently exceeded US$300 million since last year November. In September, its worth peaked at $340 million, representing the highest level attained that month. Launched in August 2022, Bitget's Protection Fund stands as a pioneering testament to safeguarding users' crypto assets, reflecting the platform's commitment to user protection and financial security. The fund's inception commenced with a US$200 million value, establishing a robust financial shield to protect users' holdings in the face of force majeure incidents, hacking attacks, or extreme market situations. The Protection Fund is completely self-funded, affording a high degree of operational flexibility and autonomy. This approach enables swift and efficient asset coverage without external red tape or policy adjustments. To further increase its stability and liquidity against external events. The fund encompasses a diversified portfolio of high-liquidity cryptocurrencies, including BTC, USDT, and USDC. Bitget's Protection fund is maintained at a ratio of 1:1 of users' assets. Meaning Bitget contributes the equivalent amount of users' assets on the exchange. This is pegged to Bitcoin prices which varied between $24,930 to $28,494 over the month of September. Bitget Protection Fund Valuation Status in September 2023 : Highest value: $ 340.9 million (September 20th) Lowest value: $ 331.7 million (September 2nd) Average value: $ 334.7 million Bitget's daily tracking of the Protection Fund reveals that its value remained above $330 million throughout the month of September. Bitget is dedicated to ensure utmost stability and security for its users on the platform. The value of the Protection Fund is insured against any decline for a resolute three-year period without any withdrawals. In the event of a potential decline in fund value due to coin price fluctuations, Bitget remains resolute in its pledge to continually reinforce the position, ensuring the fund's balance remains steadfastly above the US$300 million mark. "Septembers have historically been low points for Bitcoin prices. Our Protection fund remained as a pillar of strength and insurance to our users. We believe in fostering Bitget's ecosystem with transparency and we provide the best of security to maintain it. Honesty is the foundation of decentralized communities and we're building trustlessness. Our Protection fund and proof of reserves are two testaments to that,"saidGracy Chen, Managing Director at Bitget. Bitget's dedication to transparency extends beyond the Protection Fund Valuation report. Since December 2022, the exchange has consistently provided verifiableProof of Reservesdata, offering users further reassurance regarding the security of their assets. Bitget continues to provide users with unrestricted access to comprehensive fund information, including wallet addresses readily available to the public. For more detailed information, please visithere. By leading in transparency through frequent informative disclosures, Bitget demonstrates an uncompromising commitment to security and reliability. The exchange aims to establish an industry gold standard for transparency and trustworthiness. About Bitget Established in 2018,Bitgetis the world's leadingcryptocurrency exchangethat offersCopy Trading servicesas one of its key features. Serving over 20 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. For more information, visit:Website|Twitter|Telegram|LinkedIn|Discord About Bitget Established in 2018,Bitgetis the world's leadingcryptocurrency exchangethat offersCopy Trading servicesas one of its key features. Serving over 20 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. For more information, visit:Website|Twitter|Telegram|LinkedIn|Discord |
2024-10-26 | Forbes | California Governor Discusses Climate With China’s President Ahead Of Closely Watched APEC Meeting | In this photo taken Wednesday, Oct 25, 2023, and released by Office of the Governor of California , ... [+] California Gov. Gavin Newsom, left, meets with Chinese President Xi Jinping at the Great Hall of the People in Beijing. (Office of the Governor of California via AP) Chinese President Xi Jinping on Wednesday met with California Governor Gavin Newsom in Beijing as part of a week-long, high-profile visit to China that aims to boost ties between the state and the world’s No. 2 economy ahead of an APEC summit in San Francisco next month. The summit to be held in San Francisco November 12-18 is being closely watched for a possible meeting between President Joe Biden and Chinese President Xi Jinping amid strained ties between the two powerful countries. U.S. cabinet members to visit Beijing in recent months include Secretary of State Antony Blinken, Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo; a congressional delegation led by Senate Majority Leader Chuck Schumer and Senator Mike Crapo traveled to the country in early October. Newsom discussed topics including climate action, economic development, cultural exchange and tourism, his office said. “The only way we can solve the climate crisis is to continue our long-standing cooperation with China. As two of the world’s largest economies, the work we do together is felt in countless communities on both sides of the Pacific,” he said, according to a press release. Newsom said he is willing to push California to strengthen exchanges with China and seek closer cooperation in fields such as climate change and new energy, Xinhua reported. The Xi-Newsom meeting overlapped with a high-powered delegation of 30 members to visit New York from China this week to promote people-to-people ties. Members of that group include former Chinese central bank governor Zhu Min, NBA star Yao Ming, and billionaires Cao Dewang, chairman of Fuyao Glass, and Chen Dongsheng, chairman of Taikang Insurance. (See related post here.) Taikang Insurance Chairman Chen Dongsheng talked about China's investment in the U.S. at a press ... [+] conference in New York on Oct. 25. Newsom’s topics of discussion also included human rights violations and anti-democratic efforts in Hong Kong, Tibet, Xinjiang and Taiwan, as well as David Lin, a California pastor who has been imprisoned in China since 2006, his office said. Newsom is seen by some as a possible U.S. presidential candidate next year if President Joe Biden’s re-election effort falters. Newsom will stop in Hong Kong, Shenzhen, Guangzhou, Beijing and Shanghai as well as the province of Jiangsu during the trip. He is expected to sign five memorandums of understanding and visit a Tesla plant in Shanghai while in the country. He already visited BYD, China’s top EV maker, during the trip. California and China, facing each other across the Pacific Ocean, have long had close ties. The state is home to the largest group of Chinese Americans – 32% of Chinese immigrants to the United States live in California. China is California’s largest trading partner, and the “Golden State” is the largest importer of Chinese goods in America, according to Newsom’s office. Chinese American members of the 2023 Forbes 400 list of the richest Americans that reside in the state include Zoom founder Eric Yuan. Prominent mainland China businesses with a presence in California include BYD, which produces buses there, Chinese search leader Baidu, and mainland solar panel heavyweight LONGi. See related posts: California Governor Gavin Newsom To Start Week-Long Visit To China Profit Soars At China EV Maker BYD; Ambitious Electronics Unit Also Gains American Companies In China Less Optimistic About Outlook: AmCham Shanghai Survey Beijing Has “Plenty Of Dry Powder,” Can Manage Economic Stresses: U.S.-China Business Forum Businesses Have Role In Helping “Terrible” U.S.-China Ties: Former U.S. Ambassador To China Max Baucus @rflannerychina |
2024-10-18 | Forbes | Leading Through Disruption: Leaders Needs These Skills To Navigate The Future | As we navigate an era of rapid transformations, being able to lead through disruption is essential. By Francois Bonnici, Head of Foundations, World Economic Forum The world is facing a series of disruptions that will fundamentally alter our lives: transitioning to net-zero, nature-positive world, a fracturing global political order, the proliferation of Artificial Intelligence (AI) to name a few. How we navigate these changes will depend in large part on who leads us — in our organizations, communities and society at large. But the definition of good leadership itself is, in many ways, changing as societies and organizations grapple with complex challenges that give rise to increased scrutiny on ethical, inclusive and sustainable practices. However, research by Deloitte shows that just 23% of employees believe their organization’s leaders currently have the capabilities necessary to manage in a disrupted, boundaryless world. This perceived lack of readiness may stem from a misunderstanding of the implications of and opportunities in the new world we are entering. Therefore, it is crucial for leaders to cultivate three key competencies: adaptability, cross-cultural understanding and forward-thinking. Since its inception in 2004, the Forum of Young Global Leaders has offered a platform for leaders to experiment with fresh ideas and strategize solutions. Its unique three-year leadership development programme fosters a culture of diversity and collaboration, equipping future leaders with the necessary skills to excel in an increasingly complex world. Below are three ways leaders can develop these skills: Harness adaptability The pace of change is only accelerating, and disruptions are becoming more common. Leaders need to be adaptable and able to pivot their strategies in response to changing circumstances. For example, Victor Ochen, a Young Global Leader (YGL) and Nobel Prize nominee, exemplifies adaptability in his approach to driving change. His work, ranging from Uganda to Ukraine, is steeped in a commitment to healing the traumas of war. His organization, the African Youth Initiative Network, has provided crucial psychological support to over 21,000 individuals affected by violence. Demonstrating a remarkable ability to adapt his experience and knowledge to new contexts, Ochen has expanded his reach beyond Africa. He spearheaded a pan-African initiative to mobilize psychologists and other conflict responders to aid in Ukraine. “We are brothers, as Africans. We are stepping forward to help our brothers and sisters who are caught up in conflict in Europe, especially in Ukraine,” says Ochen. Through his work, Ochen highlights that being able to apply learnings to changing contexts is not just a valuable skill for leaders in today's era of disruption, but an essential one. Embrace lifelong learning Lifelong learning breeds innovation. Leaders who make it a priority to consistently seek knowledge are more likely to generate novel ideas and solutions. YGL Mariana Vasconcelos leveraged her love for learning to help farmers connect technology with agriculture. As the CEO and co-founder of Brazil-based AgroSmart — the largest agricultural data network in Latin America, Vasconcelos developed a platform that collects and processes data to generate insights that support 100,000 farmers in making data-driven decisions and overcoming the uncertainty of climate and climate change. Its network of farmers aggregates information that continuously improves the quality of the insights provided and supports companies in the whole-food system to transition to a more productive, sustainable and climate-resilient supply chain. “Growing up in an agricultural family and handling food from farm to table, I developed a passion for food systems. It translated into the creation of AgroSmart. My daily duties include interacting with the market, investors, corporate clients, entrepreneurs, and stakeholders, by which I constantly update my knowledge and build upon our vision and strategy,” says Vasoncelos. By fostering a culture of continuous learning and curiosity, Vasconcelos harnessed technology and data to enhance farming practices. This underscores how leaders committed to continuous learning can stay ahead of the curve, driving innovation that can disrupt entire industries. Build a culture of collaboration In times of rapid change and disruption, leaders must foster a culture of collaboration, encouraging diverse perspectives and shared learning to generate innovative solutions. For example, YGLs Neema Kaseje, Humanitarian Surgeon and Health Leader at Médecins Sans Frontières, Guillaume Lefèvre, Head of Brokers Channel & Customers Commercial Insurance, Zurich Insurance Group and H.R.H. Jaime de Bourbon de Parme, Climate Envoy for the Netherlands Government, recently unveiled a plan to revolutionize health services in rural and refugee communities. Using digital technology, including AI and machine learning, they aim to eliminate inefficiencies and optimize surgical procedures, while also promoting environmental sustainability and health equity. With the goal of improving health access and reducing costs, this coalition is working to create a brighter future for those in need of life-saving care. Similarly, one group of YGLs have launched the 1t.org India Coalition, to support the country's commitment to restore 26 million hectares of deforested land and sequester 2.5-3 billion tons of CO2 equivalent by 2030. Led by YGL Bhairavi Jani, Executive Director of SCA Group of Companies, the coalition is working closely with the World Economic Forum to help mitigate the effects of climate change, water scarcity and loss of topsoil in India. This restoration is critical for the livelihoods of India's 700 million rural inhabitants who depend on forests and agriculture. Fostering a culture of collaboration and shared learning in times of rapid change and disruption is more than a leadership approach — it's a tool for generating solutions with far-reaching impact. Leaders like Ochen, Vasconcelos and the many other YGLs in our community embody what is essential for leaders in a changing world. They are empathetic and have experience: on the ground, working side-by-side and in their communities. They understand the challenges the world faces, but they are not intimidated by them. They see opportunity in them. Whether it is using AI to help farmers and reimagine the food system, or using digital technologies to revolutionize health services in rural and refugee communities, these leaders share the ability to identify opportunities in disruption and affect positive change. That is what we need from our leaders today and moving forward. |
2024-10-26 | The Times of India | Airtel Uganda doubles bonus shares ahead of IPO close | ANI Airtel Uganda said it has doubled the amount of bonus shares for potential investors, to boost participation in its initial public offering ( IPO ) set to close on Friday. Bonus offers will be doubled for investors across all categories, Airtel said in a statement issued late on Tuesday. The firm launched its share sale on Aug. 29 and set the share price at 100 Ugandan shillings. It had initially announced bonus shares of various sizes ranging from 1-37 for different categories of investors. Airtel is selling 20% of its equity in a move aimed at raising 800 billion Ugandan shillings ($213 million). Results of the IPO are expected on Nov. 6, while shares will be listed on the Uganda Securities Exchange on Nov. 7, according to Airtel Uganda. When the listing completes, Airtel Uganda will be the second listed telecoms company on Uganda's stock exchange after MTN Uganda, majority owned by South Africa's MTN Group , which listed in December 2021. ($1 = 3,762.0000 Ugandan shillings) Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on airtel bonus shares Airtel Uganda IPO shares equity (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-10-26 | Business Insider | The House is finally back — and it has 3 weeks to prevent a government shutdown and protect some Americans from losing paychecks, food benefits, and housing loans | It took three weeks for congressional Republicans to agree on a new speaker of the House. Now Congresshas the same amount of time tofind a solution to prevent a looming government shutdown. On Wednesday, the House majorityvoted for GOP Rep. Mike Johnson to serve as speaker, ending weeks of in-party fighting — and coming after a long list of failed candidates for the role. But now that the speaker's office is no longer vacant, the House can once again resume its legislative duties, like passing funding legislationbefore the government runs out of money after November 17. Johnson on Monday detailed how he plans to structure the House's calendar over the next year, with funding legislation near the top of the agenda.According to his plan, he proposed the House pass a short-term funding measure that expires on January 15 or April 15 "based on what can obtain Conference consensus," along with discharging some of the remaining appropriations bills out of the House Appropriations Committee over the next week. "This is an ambitious schedule, but if our Speaker can work across the Conference to unify our membership and build consensus, we can achieve our necessary objectives," Johnson wrote. If this government funding discussion sounds familiar, that's because the House faced the same situation just last month anddid not reach a deal until September 30, just hours before the government was set to shut down. Former Speaker of the House Kevin McCarthystruggled to get members of his party to agree on a government funding solutionbecause they demanded steep spending cuts that Democrats would not vote for. The last minute 45-day short-term bill ensured pay did not lapse for troops, and kept the Federal Aviation Administration and National Flood Insurance program operational. Now, the House is gearing up for another round of debate over what should be funded in the upcoming legislation. In the September shutdown battle, GOP lawmakers sparred with each other — and Democrats — over issues including increasing funding for border security and whether funding for Ukraine should be included. It's likely similar demands will be put on the table this time around, and it also comes after President Joe Biden requested billions of dollars in funding for Israel and Ukraine, along with aseparate request to fund domestic prioritieslike childcare and natural disaster response. It remains to be seen if Johnson can promptly avert a government shutdown, or if he will face the same challenges as McCarthy in getting all members of his party on board. Regardless,the stakes are high for Americans. In the event of a shutdown, thousands of federal workers would be furloughed, leaving them without paychecks until the government regains funding. Additionally, while Social Security benefits would still go out, verification of the benefits would be delayed due to customer service shortages, which could bar recipients from applying for loans and housing assistance. And while Secretary of Agriculture Tom Vilsackpreviously said SNAP benefits would still go outin the event of a shutdown, low-income mothers and children could lose aid from the Special Supplemental Nutrition Program for Women, Infants, and Children, known as WIC. "We need to move swiftly to address our national security needs and to avoid a shutdown in 22 days," Biden said in a Wednesdaystatement. "Even though we have real disagreements about important issues, there should be mutual effort to find common ground wherever we can." |
2024-10-30 | ReadWrite | Blockchain for Prescription Drug Monitoring: A Solution to the Opioid Crisis | The opioid crisis has grown into an alarming and multifaceted public health emergency, posing a grave threat to communities in the United States and worldwide. The catastrophic consequences of opioid abuse, including addiction, fatal overdoses, and shattered lives, have spurred an urgent quest for innovative solutions to confront this crisis. Amid this search for answers, blockchain technology has emerged as a beacon of hope, offering the potential to revolutionize prescription drug monitoring. In this article, we delve into the depths of the opioid crisis, shedding light on its harrowing impact and the limitations of current prescription drug monitoring programs. We then embark on an exploration of how blockchain technology can be harnessed to transform healthcare’s critical facet—prescription drug monitoring. By leveraging the power of blockchain, we aim to not only enhance the oversight of prescription medications but also potentially save lives and staunch the devastating tide of the opioid epidemic. The opioid crisis is a multifaceted public health emergency characterized by the widespread misuse and abuse of opioid drugs, both prescription and illicit. Opioids, including prescription painkillers like oxycodone, hydrocodone, and fentanyl, as well as illegal drugs like heroin, have left a trail of devastation in their wake. According to the Centers for Disease Control and Prevention (CDC), more than841,000people died from a drug overdose in the United States from 1999 to 2019, with opioids being a primary driver of this epidemic. The crisis is fueled by several factors, including overprescribing of opioids by healthcare providers, inadequate patient monitoring, diversion of prescription drugs to the illicit market, and the influx of highly potent synthetic opioids like fentanyl. Traditional prescription drug monitoring programs (PDMPs) have been established in many states to track and regulate the prescription of controlled substances. However, these systems have limitations that make them less effective in addressing the crisis comprehensively. Traditional PDMPs rely on centralized databases that collect prescription data from healthcare providers and pharmacies. While these programs have been valuable in identifying potential instances of overprescribing or “doctor shopping” (patients seeking multiple prescriptions from different providers), they have inherent shortcomings: Blockchain technology offers a decentralized, secure, and transparent solution to the challenges faced by traditional PDMPs. Here’s how blockchain can revolutionize prescription drug monitoring: The path forward in implementing blockchain-based Prescription Drug Monitoring Programs (PDMPs) is paved with promise and complexity. The potential benefits of these blockchain-powered systems are undeniably substantial, promising enhanced transparency, security, and efficiency in prescription drug oversight. However, their successful integration into the healthcare ecosystem requires a concerted effort and collaboration among a multitude of stakeholders. First and foremost, government agencies, healthcare providers, and technology developers must come together in a unified effort to design and deploy blockchain-based PDMPs effectively. This collaborative approach is essential to ensure that the systems are not only technically sound but also aligned with the needs and requirements of healthcare professionals, regulatory bodies, and patients. Interdisciplinary cooperation is imperative to navigate the intricacies of healthcare data management and regulation. Blockchain, by design, ensures data integrity and security, but it must also strike a delicate balance between transparency and confidentiality. Patient privacy must be safeguarded at all costs, and the blockchain architecture should incorporate robust encryption and access control mechanisms to protect sensitive health information. Striking this balance necessitates meticulous planning and adherence to stringent data protection regulations. Regulatory compliance is another pivotal facet of implementing blockchain-based PDMPs. These systems must align with existing healthcare regulations, such as HIPAA (Health Insurance Portability and Accountability Act) in the United States, as well as evolving blockchain-specific regulations. Navigating this complex regulatory landscape requires a deep understanding of both healthcare and blockchain industries and a proactive approach to compliance. These systems must be fortified against cyber threats and data breaches, given the sensitive patient information they handle. Incorporating cutting-edge cybersecurity protocols, intrusion detection systems, and continuous monitoring is indispensable to maintain the sanctity of the data stored on the blockchain and within the EHR software. The integration of EHR software into the blockchain ecosystem introduces additional layers of complexity and potential vulnerabilities, making it paramount to implement stringent security measures. These measures should encompass end-to-end encryption of health records, secure access control mechanisms, and advanced authentication protocols to ensure that patient data remains confidential and protected from unauthorized access or malicious attacks. As the convergence of blockchain technology and EHR software (curemd dotcom/top-ehr-vendors) continues to evolve, healthcare organizations must remain vigilant in their cybersecurity efforts to safeguard patient privacy and maintain the integrity of their data. Instead, it should be viewed as a valuable component within a broader harm reduction strategy. Effective combat against the opioid epidemic necessitates multifaceted approaches encompassing public health initiatives, addiction treatment, mental health support, and community engagement. Blockchain-based PDMPs can serve as a catalyst for change, enhancing prescription drug oversight and aiding in the prevention of opioid abuse. However, their success ultimately depends on the collaborative efforts of stakeholders, meticulous attention to privacy and security, and steadfast commitment to regulatory compliance. The opioid crisis persists as a grave and multifaceted public health challenge, calling for innovative solutions capable of tackling its complex nature comprehensively. In this critical juncture, blockchain technology emerges as a beacon of hope, poised to revolutionize the landscape of prescription drug monitoring. Its inherent characteristics of decentralization, transparency, and security offer a promising pathway toward bolstering patient safety, enhancing regulatory oversight, and, perhaps most importantly, saving lives. As we persistently grapple with the profound challenges posed by the opioid crisis, the exploration and implementation of blockchain-based Prescription Drug Monitoring Programs (PDMPs) stand as a pivotal and necessary stride toward forging a healthcare system that is not only more secure and transparent but also more accountable. This innovative approach to drug monitoring has the potential to transform the way we combat opioid abuse, curbing the epidemic’s devastating effects and steering us toward a future where patient safety and effective regulation take center stage in the fight against opioid addiction and its tragic consequences. Featured Image Credit: Lil Artsy;Pexels; Thank you! |
2024-10-11 | ABC News | Detroit automakers and union leaders spar over 4,800 layoffs at non-striking factories | DETROIT --The United Auto Workers union significantly escalated its strikes against Detroit Three automakers Wednesday when 8,700 workers walked off their jobs at Ford's Kentucky truck plant. The surprise move about 6:30 p.m. took down the largest and most profitable Ford plant in the world. The sprawling factory makes pricey heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs. UAW President Shawn Fain said in a statement that the union has waited long enough “but Ford hasn’t gotten the message” to bargain for a fair contract. “If they can’t understand that after four weeks, the 8,700 workers shutting down this extremely profitable plant will help them understand it,” Fain said. The strike came nearly four weeks after the union began its walkouts againstGeneral Motors, Ford and Jeep maker Stellantis on Sept. 15, with one assembly plant from each company. In a statement, Ford called the strike expansion “grossly irresponsible” but said it wasn’t surprising given the UAW leadership’s statements that it wanted to keep Detroit automakers hobbled with “industrial chaos.” A Ford executive said the union set up a meeting at the company's Dearborn, Michigan, headquarters Wednesday afternoon where Fain asked if the company had another offer. High-ranking Ford executives responded that they are working on possibly bringing electric vehicle battery plants into the UAW national contract, essentially making them unionized. But they didn't have a significantly different economic offer, the executive said. Fain was told the company put a strong offer on the table, but there wasn't a lot of room to increase it and keep it affordable for the business, the executive said. Fain responded by saying, if that's the company's best offer, “You just lost Kentucky Truck Plant,” said the executive. The meeting only lasted about 15 minutes, he said. A UAW official said that Ford has been saying for two weeks that it would add to its economic offer, but at the meeting Wednesday, the company presented the same offer it made earlier. Then Fain and Vice President Chuck Browning called local leaders and the strike began a short time later, the official said. The significant escalation against Ford shows that Fain is trying to increase pressure on the company, said Marick Masters, a business professor at Wayne State University who follows labor issues. But Ford and the other automakers have made concessions and raised wage offers, he said. The companies, he said, “may have reached their resistance points to varying degrees.” Executives, he said, have bottom line positions they can’t cross in terms of staying competitive with other automakers. Fain, Masters said, likely is testing how far he needs to push Ford before going to “full throttle,” by taking all 57,000 Ford members out on strike. The union’s move doesn’t leave him optimistic for a quick end to the strikes, Masters said. “I think the issues that remain on the table are quite thorny,” he said, pointing to union demands that all workers get defined benefit pensions andhealth insurancewhen they retire. The UAW expanded its strikes on Sept. 22, adding 38 GM and Stellantis parts warehouses. Assembly plants from Ford and GM were added the week after that. The Kentucky strike brings to 33,700 the number of workers on strike against the three automakers. Thus far, the union has decided to target a small number of plants from each company rather than have all 146,000 UAW members at the automakers go on strike at the same time. Last week, the union reported progress in the talks and decided not to add any more plants. This came after GM agreed to bring joint-venture electric vehicle battery factories into the national master contract, almost assuring that the plants will be unionized. Battery plants are a major point of contention in the negotiations. The UAW wants those plants to be unionized to assure jobs and top wages for workers who will be displaced by the industry’s ongoing transition to electric vehicles. Since the start of the strike, the three Detroit automakers have laid off roughly 4,800 workers at factories that are not among the plants that have been hit by the UAW strikes. The companies say the strikes have forced them to impose those layoffs. They note that the job cuts have occurred mainly at factories that make parts for assembly plants that were closed by strikes. In one case, layoffs have been imposed at a factory that uses supplies from a parts factory on strike. The UAW rejects that argument. It contends that the layoffs are unjustified and were imposed as part of the companies' pressure campaign to persuade UAW members to accept less favorable terms in negotiations with automakers. The factories that have been affected by layoffs are in six states: Michigan, Ohio, Illinois, Kansas, Indiana and New York. Sam Fiorani, an analyst with AutoForecast Solutions, a consulting firm, said he thinks the layoffs reflect a simple reality: The automakers are losing money because of the strikes. By slowing or idling factories that are running below their capacities because of strike-related parts shortages, Fiorani said, the companies can mitigate further losses. “It doesn’t make sense to keep running at 30% or 40% of capacity when it normally runs at 100%,” he said. Striking workers are receiving $500 a week from the union’s strike pay fund. By contrast, anyone who is laid off would qualify for state unemployment aid, which, depending on a variety of circumstances, could be less or more than $500 a week. Fiorani said that as the strikes widen, more workers will likely be laid off at non-striking plants. Once metal stamping factories that supply multiple assembly plants have produced enough parts for non-striking facilities, the companies would likely shut them down. “Once you've filled up the stocks for the other plants you supply," he said, “you have to lay off the workers and wait out the strike.” Separate companies that manufacture parts for the automakers are likely to have laid off workers but might not report them publicly, said Patrick Anderson, CEO of the Anderson Economic Group in Lansing, Michigan. A survey of parts supply companies by a trade association called MEMA Original Equipment Suppliers found that 30% of members have laid off workers and that more than 60% expect to start layoffs in mid-October. |
2024-10-17 | NPR | Medicare Advantage keeps growing. Tiny, rural hospitals say that's a huge problem | Since 2010, 150 rural hospitals have closed in the United States. Hospital leaders say that Medicare Advantage pays slowly and sometimes not at all and that this could push more hospitals to the brink.Mint Images/Getty Images/Mint Images RFhide caption Since 2010, 150 rural hospitals have closed in the United States. Hospital leaders say that Medicare Advantage pays slowly and sometimes not at all and that this could push more hospitals to the brink. Jason Bleak runs Battle Mountain General Hospital, a small facility in a remote Nevada gold-mining town that he describes as "out here in the middle of nowhere." When several representatives from private health insurance companies called on him a few years ago to offer Medicare Advantage plan contracts so their enrollees could use his hospital, Bleak sent them away. "Come back to the table with a better offer," the chief executive recalls telling them. The representatives haven't returned. Battle Mountain is in north-central Nevada, about a three-hour drive from Reno and four hours from Salt Lake City. Bleak (whose name is pronounced "Blake") suspects insurance companies simply haven't enrolled enough of the area's seniors to need his hospital in their network. Medicare Advantage insurers are private companies that contract with the federal government to provide Medicare benefits to seniors in place of traditional Medicare. The plans have become dubious payers formany largeand small hospitals, which report that the insurers are often slow to pay or don't pay. Private plans now cover more than half of those eligible for Medicare. And while enrollment is highest in metropolitan areas, it has increasedfourfold in rural areas since 2010. Meanwhile, more than150 rural hospitals have closedsince 2010, according to the Cecil G. Sheps Center for Health Services Research at the University of North Carolina. States such as Texas, Tennessee and Georgia have had the most closures. Medicare Advantage growth has had an outsize impact on the finances of small, rural hospitals that Medicare has designated as "critical access." Under the designation, government-administered Medicare pays extra to those hospitals to compensate for low patient volumes. Medicare Advantage plans, on the other hand, offer negotiated rates that hospital operators say often don't match those of traditional Medicare. "It's happening across the country," says Carrie Cochran-McClain, chief policy officer of the National Rural Health Association, whose members include small-town hospitals. "Depending on the level of Medicare Advantage penetration in individual communities, some facilities are seeing a significant portion of their traditional Medicare patient or beneficiary move into Medicare Advantage," Cochran-McClain says. Kelly Adams is the CEO of Mesa View Regional Hospital, another rural hospital in Nevada. He says he applauds Battle Mountain's Bleak for keeping Medicare Advantage plans out of his hospital "as long as he has." Mesa View, which is a little more than an hour's drive east of Las Vegas, has a high percentage of patients enrolled in Medicare Advantage plans. "Am I going to say I'm not going to take care of 40% of our patients at the hospital or the clinic?" Adams says, adding that it would be a "tough deal" to be forced to reject patients because they didn't have traditional Medicare. Mesa View has 21 Medicare Advantage contracts with multiple insurance companies. Adams says he has trouble getting the plans to pay for care the hospital has provided. They are either "slow pay or no pay," he said. In all, the plans owe Mesa View more than $800,000 for care already provided. Mesa View lost about $1.3 million taking care of patients, according to its most recent annual cost report. Cochran-McClain, of the National Rural Health Association, says the growth in the plans also narrows options for patients because "the contracting that is happening under Medicare Advantage frequently has an influence on steering patients to specific types of providers." If a hospital or provider does not contract with a Medicare Advantage plan, then a patient may have to pay for out-of-network care. That generally wouldn't happen with traditional Medicare, which is widely accepted. At Mesa View, patients must drive to Utah to find nursing homes and rehabilitation facilities covered by their Medicare Advantage plans. "Our local nursing homes are not taking Medicare Advantage patients because they don't get paid. But if you're straight Medicare, they'd be happy to take that patient," Adams says. (Medicare pays for limited nursing home stays post-surgery or injury. Long-term care is covered only by Medicaid, for those who qualify.) David Allen, a spokesperson for AHIP, an industry trade group formerly known as America's Health Insurance Plans, declined to respond to Bleak's and Adams' specific concerns. Instead, he says enrollees are signing on because the plans "are more efficient, more cost-effective, and deliver better value than original Medicare." Sara Lonardo, press secretary for the Centers for Medicare & Medicaid Services, says CMS has acted to ensure "that private insurance companies are held accountable for providing quality coverage and care." The reach of private Medicare Advantage plans varies widely in rural areas, says Keith Mueller, director of the Rural Policy Research Institute at the University of Iowa's College of Public Health. If recent trends continue, enrollment could tip to 50% of rural Medicare beneficiaries in about three years — with some regions like the Upper Midwest already higher than 50% and others lower, such as Nevada and the Mountain States, but trending upward. In June, a bipartisan group of Congress members, led by Sen. Sherrod Brown, D-Ohio,sent a letterurging federal agencies to do more to force Medicare Advantage insurers to pay health systems what they owe for patient care. In an August response, CMS Administrator Chiquita Brooks-LaSure wrote that a final rule issued in April made "impactful changes" to speed up care and address concerns about prior authorization — when a hospital and patient must get advance permission for care to ensure it will be covered by an insurer. Brooks-LaSure noted another proposed rule that, once finalized, could mandate that insurers provide specific reasons for denying care within seven days. Hospital operators Adams and Bleak also want more federal action, and fast. Bleak at Battle Mountain says he knows Medicare Advantage plans will eventually move into his area and he will have to contract with them. "The question is," Bleak says, "how can we match the reimbursement so that we can sustain and keep our hospitals in these rural areas viable and strong?" KFF Health News, formerly known as Kaiser Health News (KHN), is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs atKFF— the independent source for health policy research, polling and journalism. |
2024-10-18 | The Times of India | China's electric vehicle giant BYD sees Q3 net profit as much as doubling | Reuters Chinese electric vehicle giant BYD on Tuesday said it expects third-quarter net profit to as much as double thanks to robust sales and effective cost control. The Shenzhen-based company forecasts net profit for the July to September period at between 9.55 billion yuan ($1.31 billion) and 11.55 billion yuan, an increase of 67% to 102% from a year earlier. "Despite the increasingly intensified competition in the automobile industry in the third quarter, the company continued to record profit," BYD said in a filing. This was down to the company "leveraging on its improving brand influence, continuously expanding scale advantage and strong industrial chain-wide cost control capability, demonstrating strong resilience", it said. Net profit in the nine months through September is expected to rise 120-142% year-on-year to between 20.50 billion yuan and 22.50 billion yuan, it said, up from a net profit of 9.31 billion yuan in the year ago period. Citi analyst Jeff Chung said the previous consensus likely failed to capture elements such as BYD's much higher return on investment from exports and how it had further achieved cost reductions. He said he remained bullish on BYD into 2024 citing strong export sales and resilience in domestic price cut cycles versus its competitors. Shares were up 6.89% in Hong Kong trading on Wednesday morning. BYD's new energy vehicle (NEV) sales hit a record high in the third quarter, with the company ranking first in the world in terms of NEV sales, it said. The company sold 824,001 NEVs in the third quarter, up 53% from a year ago, company data showed. Last week, BYD said it had agreed to sell 2,000 electric buses to Uzbekistan, and will team up with the Tashkent Municipal government to promote the electrification of public transportation in the capital. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on BYD earnings BYD electric vehicle net profit electric vehicle giant (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-10-03 | The Times of India | Asian Games: India win bronze in men's canoe double 1000m event | India sealed a bronze medal in the men's canoe double 1000m event at the ongoing Asian Games in Hangzhou on Tuesday. India's Arjun Singh and Sunil Singh paired up to finish in third place and clinched the bronze medal. The India duo clocked 3:53.329mins in the men's canoe double 1000m race. Meanwhile, Uzbekistan's Shokhmurod Kholmuradov and Nurislom Tukhtasin Ugli sealed the gold medal after finishing at 3:43.79mins. Kazakhstan's Timofey Yemelyanov and Sergey Yemelyanov finished at the silver spot after they clocked 3:49.991mins. "Huge cheers for Arjun Singh and Sunil Singh Salam ! The duo has clinched a well-deserved Bronze in the Men's Canoe Double 1000m event with a timing of 3.53.329 at the #AsianGames2022! India Let's cheer out loud for our champs," Sports Authority of India wrote on X (formerly known as Twitter). The Canoeing events started on September 30 and Arjun Singh and Sunil Singh clinched India's first medal in canoeing events at the 19th Asian Games in Hangzhou. The Canoeing events will conclude on Tuesday. Earlier, in the men's canoe single 1000m, Niraj Verma finished in seventh place in the final of the canoeing and missed the medal after he clocked 4:36.314mins. In the upcoming final event of the women's kayak single 500m race, Soniya Devi Phairembam will take part in the final and might bag another medal for India in the canoeing event. In the medals tally at the ongoing Asian Games in Hangzhou, India stands in fourth place with a total of 61 medals, which includes 13 gold, 24 silver, and 24 bronze medals. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on asian games asian games medals india at asian games india newsindia asian games medals india medal tally arjun singh canoe asian games cord india record asian games sunil singh salam (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-26 | The Times of India | India reiterates opposition to China's multi-billion-dollar infrastructure project BRI | ANI India on Thursday once again refused to endorse China 's ambitious Belt and Road Initiative, becoming the only country in the Shanghai Cooperation Organisation not to support the multi-billion-dollar infrastructure project. A Joint communique at the end of the 22nd meeting of the Heads of Government Council of the SCO here said that Iran, Kazakhstan, Kyrgyz Republic, Pakistan, Russia, Tajikistan and Uzbekistan reaffirmed their support for China's Belt and Road Initiative ( BRI ) - the pet project of Chinese President Xi Jinping . It said that they noted ongoing work to jointly implement this project, including efforts to align the development of the Eurasian Economic Union and the Belt and Road Initiative. During the SCO summit in July hosted by New Delhi, India did not endorse the BRI while other members supported the project. India has protested to China over the USD 60 billion China-Pakistan Economic Corridor - the flagship project of the BRI - as it is being laid through the Pakistan-occupied Kashmir (PoK). External Affairs Minister S Jaishankar , who attended the summit in Bishkek, said that SCO members should work together to promote stability and prosperity in the region by strictly adhering to the principles of international law, respecting the sovereignty and territorial integrity of each other and encouraging economic cooperation. In his address, Jaishankar also said that the India-Middle East-Europe Economic Corridor and the International North-South Transport Corridor could become "prosperity enablers." The India-Middle East-Europe Economic Corridor, which many see as an alternative to China's BRI, was jointly announced by the leaders of the US, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy and the European Union on the sidelines of the G20 summit in September. The International North-South Transport Corridor is a 7,200-km long multi-mode network of ship, rail, and road routes for moving freight between India, Iran, Azerbaijan, Russia, Central Asia and Europe. The BRI has raised global concerns over China's debt diplomacy of extending huge loans to smaller countries for unsustainable infrastructure projects. The Hambantota port, which was funded by a Chinese loan, was leased to Beijing in a 99-year debt-for-equity swap in 2017 after Sri Lanka failed to pay off the debt. China is doling out huge sums of money for infrastructure projects in countries from Asia to Africa and Europe. The US' previous Donald Trump administration had been extremely critical of the BRI and was of the view that China's "predatory financing" is leaving smaller counties under huge debt endangering their sovereignty. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on bri india china xi jinping s jaishankar jaishankar donald trump (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-25 | Marketscreener.com | OFG Bancorp Declares Regular Quarterly Common Stock Cash Dividend | OFG Bancorp (NYSE: OFG) today announced its Board of Directors declared a regular quarterly cash dividend of $0.22 per common share for the quarter ending December 31, 2023. The dividend is payable January 16, 2024, to holders of record at December 29, 2023, with an ex-dividend date of December 28, 2023. About OFG Bancorp Now in its 59thyear in business, OFG Bancorp is a diversified financial holding company that operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a wide range of retail and commercial banking, lending and wealth management products, services, and technology, primarily in Puerto Rico and U.S. Virgin Islands. Visit us atwww.ofgbancorp.com. View source version on businesswire.com:https://www.businesswire.com/news/home/20231025359965/en/ |
2024-10-03 | Marketscreener.com | Popular, Inc. Declares Dividend on Preferred Stock and Announces Distribution on Trust Preferred Securities | Popular, Inc. (NASDAQ: BPOP) announced today that it has declared the following monthly cash dividend on its outstanding shares of Non-Cumulative Monthly Income Preferred Stock: The Corporation also announced the following monthly distribution on its outstanding Trust Preferred Securities: About Popular, Inc. Popular, Inc. (NASDAQ: BPOP) is the leading financial institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida. View source version on businesswire.com:https://www.businesswire.com/news/home/20231003015941/en/ |
2024-10-05 | Marketscreener.com | First BanCorp to Announce 3Q 2023 Results on October 20, 2023 | First BanCorp (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the third quarter ended September 30, 2023, before the market opens on October 20, 2023. First BanCorp will hold a conference call and live webcast to discuss the financial results at 11:00 a.m. Eastern time on Friday, October 20, 2023. The call and webcast will be broadcast live over the internet and can be accessed through the Corporation’s investor relations website:fbpinvestor.com. Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The call may also be accessed through a dial-in telephone number 833-470-1428 or 404-975-4839. The participant access code is 519358. Following the webcast presentation, a question-and-answer session will be made available to research analysts and institutional investors. A replay of the webcast will be archived on First BanCorp’s website until October 20, 2024. A telephone replay will be available until November 17, 2023, at 866-813-9403, with access code 203912. About First BanCorp First BanCorp is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. First BanCorp’s shares of common stock trade on the New York Stock Exchange under the symbol “FBP.” View source version on businesswire.com:https://www.businesswire.com/news/home/20231005857606/en/ |
2024-10-31 | Marketscreener.com | First BanCorp Declares Quarterly Cash Dividend on Common Stock | First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.14 per share on its outstanding common stock. The dividend is payable on December 8, 2023 to shareholders of record at the close of business on November 24, 2023. About First BanCorp. First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico is First Federal Finance Limited Liability Company, a small loans company. First BanCorp’s shares of common stock trade on the New York Stock Exchange under the symbol “FBP.” Safe Harbor This press release may contain “forward-looking statements” concerning the Corporation. The words or phrases “expect,” “anticipate,” “intend,” “look forward,” “should,” “would,” “believes” and similar expressions are meant to identify “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created by such sections. Such forward-looking statements include, but are not limited to, statements regarding the Corporation’s ability to pay dividends on the Corporation’s Common Stock in any future periods. Forward-looking statements involve known and unknown risks, uncertainties and contingencies that may cause actual results to differ materially from the expectations expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to the factors described in the Corporation’s most recent Annual Report on Form 10-K, in its Quarterly Reports on Form 10-Q and in our other filings with the Securities and Exchange Commission. The Corporation undertakes no obligation to update any “forward-looking statements” to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by securities laws. View source version on businesswire.com:https://www.businesswire.com/news/home/20231031264894/en/ |
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