Prime Minister Narendra Modi assured Andhra Pradesh Chief Minister N Chandrababu Naidu of complete support from the Centre amidst heavy rains causing widespread floods. Multiple relief and rescue operations are underway, including the cancellation and diversion of trains, rescue of livestock, and arrangement of emergency provisions for stranded passengers in Vijayawada and other affected areas.
Gold prices held steady on Monday after a 1% decline in the previous session, driven by U.S. inflation data indicating a smaller-than-expected interest rate cut by the Federal Reserve. Spot gold remained at $2,502.89 per ounce, while U.S. gold futures saw a slight rise. Key market data and geopolitical issues are under investors' watch.
Oil prices dropped on Monday as investors considered the impact of higher OPEC+ production in October against reduced output from Libya. Brent crude fell 0.7% to $76.36 a barrel, while U.S. West Texas Intermediate also declined 0.7% to $73.05 a barrel. Economic concerns in China and the U.S. continue to influence market sentiments.
Happy Monday! Top startup and tech leaders at the Economic Times World Leaders Forum said India is poised to become the hub of tech innovation. Updates from the event and more in today’s ETtech Morning Dispatch.
ICICI Bank plans to acquire its securities affiliate, prompting criticism from some shareholders unhappy with the buyout terms. Questions arise over the Securities and Exchange Board of India's approval process, as it waived rules meant to protect minority investors. The merger is currently contested via class-action and higher court lawsuits.
Indian para-shuttler Thulasimathi Murugesan advanced to the finals in Women's Singles SU5 at the Paris Paralympics 2024, ensuring another medal for India. Murugesan defeated Manisha Ramadass, who will now compete for bronze. India has so far secured seven medals, including Nishad Kumar's silver in men's high jump T47 and Preeti Pal's historic bronze in 200m T35.
President Draupadi Murmu praised Indian para-sprinter Preeti Pal for securing her second bronze medal at the Paris Paralympics 2024. Preeti created history by becoming the first Indian woman to win two medals in track and field events at the Paralympics or Olympics. Her achievements align with India's impressive performance in the ongoing games, where the country has already won seven medals. Preeti expressed satisfaction with her performance, delivering personal bests in both the 100m and 200m races.
A helicopter carrying 22 people crashed in Russia's Far East, leading to no survivors, as announced by the Emergencies Ministry. The crash occurred near the Vachkazhets volcano while en route to Nikolaevka village. Seventeen bodies have been found, and harsh weather conditions are believed to have contributed to the accident. This crash follows a 2021 incident involving another Mi-8 helicopter in Kamchatka that resulted in eight deaths.
Pakistan is facing growing concerns over the spread of mpox, with Peshawar reporting its fifth case this year. A 47-year-old man who recently returned from the Gulf region tested positive for the virus. Health officials are urging immediate action and have strengthened screening measures at airports across the country. Isolation wards and Rapid Response Teams have been established to prevent further transmission. So far, all reported cases have been imported from abroad.
Futures are 100% priced for a cut of 25 basis points on Sept. 18, and imply a 33% probability of 50 basis points. They also have 100 basis points of cuts priced in by December, and 120 basis points for 2025.
If we see improved participation from the banking sector, Nifty could break past the 25,500 mark and move toward a new milestone of 26,000
Despite the weak June quarter performance, an Antique Stock Broking earnings review report expects a minimal earnings downgrade in the coming quarters. The report lists increased economic activity, especially government spending, rural recovery, given the outlook of above-normal monsoon, lower commodity prices, likely start of the rate cut cycle and expectations of healthy upcoming festive demand as some of the factors that will support the performance of corporate India.Here’s how different sectors... Читать дальше...
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
Under Section 80CCD(2), up to 10% of the employee’s basic salary put in NPS is tax-free. This limit is higher at 14% for taxpayers like Roy who have opted for the new tax regime. Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
Mahindra & Mahindra: The company offers a wide range of products, including SUVs, pickups, commercial vehicles, electric vehicles, tractors and farm machinery. Its advanced automotive manufacturing capabilities leverage digital technologies like artificial intelligence and machine learning to optimise processes. Should you buy Mahindra & Mahindra now?
Invesco India Multicap Fund Growth has broadly maintained a 40:60 allocation towards large caps, and mid- and small-cap companies over the years. The fund portfolio is fairly diversified, with modest positions in its top bets. It has grown in size in line with broader opportunities offered by the market.
If you are confused by personal finance terms, jargon and calculations, here’s a new series to simplify and deconstruct these for you. In the 14th part of this series, Riju Mehta explains what fund of funds is.
Almost everybody has faced some financial crisis in life. Some of these crises may have been caused by external events, so the individual can’t be held responsible. ET Wealth reached out to industry experts and financial advisers to know what they learnt from the financial upheavals in their lives. The experts everyone looks up to for their financial wisdom and prudent planning have also grappled with the same mistakes that many of us make. They have also faced the same uncertainties, the same doubts and, yes, the same losses.
This new pension vehicle is clearly aimed at addressing the perceived shortcomings of the NPS among a large swathe of government employees. When the NPS was first introduced in 2004, it completely revamped the prevailing pension architecture, now referred to as the Old Pension Scheme. Though UPS promises guaranteed, inflation-linked pension, NPS offers the potential of a bigger corpus.
The National Pension System is now a large and complex beast with many nooks and crannies that few people are familiar with. These benefits significantly enhance the utility of the pension scheme, says Dhirendra Kumar.
What might work for her are hybrid investment choices, such as funds with a mix of equity and debt. These could include balanced, dynamic, or debt funds with an equity component.
A bank locker is a safe place to store valuable items, such as jewellery, important documents and other precious assets. Here’s how one can open a bank locker.
The Board of NBCC approved a bonus issue of shares to shareholders in the ratio of 1:2, which means investors will get one additional share for every 2 shares investors hold in the company.
Heavy rainfall has caused significant disruptions to train services in Andhra Pradesh and Telangana, with the South Central Railway (SCR) canceling 21 trains and diverting 10 others due to waterlogged tracks and track damage. Relief efforts are underway, with local and central authorities coordinating to ensure passenger safety and restore services. Prime Minister Narendra Modi has assured the Chief Ministers of both states of the Centre’s full support during this challenging time.
