FUNDING SHORTFALL
German defence budget for 2025 falls "signicantly" short of request, minister says
German Defence Minister Boris Pistorius expressed frustration on Monday as his ministry received significantly less than the 6.7 billion euros he requested for the 2025 budget. This shortfall hampers his ability to implement necessary reforms swiftly amid current threats. Chancellor Olaf Scholz's "Zeitenwende" initiative, aimed at revitalizing the military with a 100-billion-euro special fund after Russia's invasion of Ukraine, will continue to guide funding efforts. Despite budget constraints, Germany aims to maintain defence spending above NATO's 2% GDP target, with an additional 30 billion euros allocated by 2028 for military modernization, marking a historic high.
Tweak NPS allocation, increase SIPs by 5% every year to achieve ambitious goals
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.
Vi needs 2.2x ARPU jump to meet payout obligations
Vi’s ARPU, they said, needs to jump 2.2x to around Rs 320 by FY27—from Rs 146 now—even if the cash-strapped telco sees a 50% cut in its adjusted gross revenue (AGR) liability to Rs 35,000 crore via a favourable Supreme Court verdict on its curative plea. As per company data, Vi’s total AGR dues were pegged at Rs 70,320 crore in the quarter to March 2024.
Liquidity deficit surges to four-month high
The shortfall of funds has pushed up the weighted average call rate (WACR), which represents banks' overnight cost of borrowing and functions as a determinant of other borrowing costs in the economy too. On Wednesday, the WACR closed at 6.75%, the same rate as the RBI's Marginal Standing Facility (MSF).
Where should you invest when saving for retirement?
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.
Pakistan to privatise all SOEs, except strategic enterprises: PM Sharif
Asserting that the government's job is not to do business but to ensure a business and investment-friendly environment, Sharif directed all ministries to take action and cooperate with the Privatisation Commission.
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Myanmar displaced now at 3 million: UN
The number of displaced people in Myanmar has reached three million, the United Nations said, the vast majority forced to flee their homes by conflict unleashed by the military's 2021 coup. The coup sparked renewed clashes with established ethnic armed groups and birthed dozens of new "People's Defence Forces" that the military has failed to crush.
Indus Towers facing a Rs 60 cr shortfall in collections from Vodafone Idea in Q4
Indus Towers received an additional Rs 360 crore from Vodafone Idea (Vi) for old dues, but analysts note a Rs 60 crore shortfall in collections. Despite this, Indus' trade receivables increased by Rs 430 crore sequentially in Q4FY24, reflecting the delayed collection of Vi's past outstandings, ultimately settled in April.
IIFCL AMC, 4 others settle mutual fund violation case with Sebi; pay Rs 1 cr
IIFCL Asset Management Company along with four individuals have settled with Sebi a case pertaining to alleged violation of mutual fund norms after paying Rs 1.02 crore collectively towards settlement charges.
NPS is a long-term investment with very low costs, low risk profile: Rahul Bhagat, CEO, DSP Pension Fund
Annuity should not be a sore point, because it offers a fixed and assured income for life. It is like a fixed deposit for the rest of your life. An annuity does away with the reinvestment risk and the risk of longevity. At least some part of the retirement portfolio should generate a fixed and assured income, Rahul Bhagat tells Babar Zaidi
Hike ELSS investments by 10% every year, defer retirement to reach long-term goals
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.
US-China tensions fragmenting trade and investment, IMF finds
Trade flows between a US-aligned group and another linked more closely to China have declined by about 12% more than trade between countries within the same bloc since Russia’s full-scale invasion of Ukraine in 2022.
MFs voice 'noes' loudly at governance shortfalls
Data from primeinfobase.com showed the percentage of votes opposing resolutions soared to a record high of 8.55% in FY24, a notable leap from 7% in FY23 and 4.62% in FY22. This substantial increase aligns their position more closely with the practices observed in developed markets, where institutional investors typically oppose 8-10% of resolutions proposed by companies.
Bengaluru facing shortfall of 500 MLD water: Karnataka CM Siddaramaiah
Out of this 1,470 MLD comes from Cauvery river and 650 MLD from borewells. We have a shortage of about 500 MLD," the Chief Minister told reporters after a meeting with the officials of the civic agencies and irrigation department. Siddaramaiah has pinned hope on the Cauvery Five project, which will commence in June to address most of the water woes of the city.
Vedanta Resources downgraded over 'interest burden'
Ahead of its restructuring, Vedanta Resources had $3 billion due in the current financial year, and $4.6 billion in the next. Post restructuring, these liabilities have reduced to $2 billion in 2023-24 (Apr-Mar), and $2.4 billion in FY25.
UK's curbs on international students, foreign workers may backfire, thinks a top hedge fund founder
The UK government's migration crackdown is damaging higher education institutions and hindering the country's ambitions in science and technology. The measures will lead to a funding shortfall, reduced talent pool, and hinder the recruitment of skilled workers, impacting sectors like the National Health Service.
Rahul writes to PM over 'plight' of MGNREGS workers in WB, urges Centre to release funds
Gandhi recalls the UPA government's initiative of guaranteeing the right to work and highlights the importance of MGNREGS as a safety net and assured livelihood source.
Fragile-five days long gone as funds pile into India, Indonesia
The original Fragile Five — which also included Turkey, South Africa and Brazil — referred to nations perceived to be most at risk due to their heavy reliance on foreign investment to drive growth. Improving finances — as reflected in credit-default swaps — show the market’s view of India and Indonesia has swung almost 180 degrees since the term was coined in 2013.
Retirement planning: How to earn monthly income of Rs 1.5 lakh
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
SWP magic: How a Systematic Withdrawal Plan can protect your mutual fund portfolio while exiting an SIP
An SWP is a tool that allows one to regularly withdraw a predetermined amount of money from their mutual fund investments over a specific period. It is the other side of the investment equation—the reverse of an SIP—that facilitates a phased exit from investments. Let’s consider the multiple benefits of pursuing an SWP.
Investing in silver ETFs comes with several advantages: Chintan Haria of ICICI Pru Mutual Fund
"Silver, despite its high demand, faces supply constraints as mining struggles to keep pace. The global shortfall in silver supply is expected to be 140 million ounces in 2023, down from 253 million ounces in 2022," says Chintan Haria of ICICI Prudential Mutual Fund.
UK military faces $22 billion equipment shortfall, watchdog says
The National Audit Office (NAO) put the estimate for the budget for new weapons and equipment at 305.5 billion pounds for 2023-2033, 16.9 billion pounds over budget, the largest deficit since its first report in 2012. Soaring costs in nuclear and naval programmes, as Britain works on a replacement nuclear deterrent, as well as high inflation have pushed up the future budget, the NAO said.
Solar cushion helps India’s renewable energy firms to offset wind shortfall: Moody’s
As a result of the lower generation, the EBITDA of rated renewable energy companies was lower by 2.5%-6.0% in last three fiscal years on an aggregate basis. However, all rated issuers have multiple projects, and their credit quality benefits from portfolio diversification, which reduces the impact of underperformance of individual projects, the report added.
Russia's optimistic fiscal plans risk budget revenue shortfall
Russia may miss its revenue target for 2024 and be forced to increase business taxes if the rouble strengthens more than expected and economic assumptions fall short, according to analysts. The country's budget plans project Brent crude prices averaging $85 per barrel next year, but there are concerns the Urals price could fall below $60 in 2024-2026.
US Army is launching a sweeping overhaul of its recruiting to reverse enlistment shortfalls
Army officials, however, said that number still allows the service to meet its required total strength of 4,52,000. They said the Army also signed up an additional 4,600 recruits for future contracts, in an effort to build back the pool of delayed-entry recruits, which had eroded. Those recruits will go to basic training over the next year.
Why Chandra Shekhar Ghosh is not worried about shortfalls in Q1 and expects Bandhan Bank to improve from Q2
In the case of NIMs, we have guided for 7% to 7.5% and we have retained 7.3% on this. 44% of the secured portfolio has come from within that part. If we go to 50%, it will not change the guidance. We will continue to retain that 7% to 7.5%, says Bandhan Bank MD & CEO.
Edtech firm Byju's making up shortfall to EPFO: report
India's Employees Provident Fund Organisation observed a shortfall in Indian edtech startup Byju's from August last year to May 2023, labour ministry sources told Reuters on Tuesday.
Divestment shortfall: Centre has math ready
In the February budget, the central government marked down the disinvestment target to ₹50,000 crore from ₹65,000 crore budgeted initially. It has managed to raise ₹31,107 crore so far.
Resurgent China to drive 2023 oil demand, supply shortfall possible in H2 -IEA
With air travel ramping up as the pandemic continues to ease, jet fuel is set to form a central plank in the global demand rebound, the IEA added.
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