INTERNATIONAL FINANCIAL REPORTING STANDARDS
Must accelerate action for sustainable development goals: UN Secy General
The Sustainable Development Goals face challenges due to the COVID-19 pandemic, conflicts, and climate change. Urgent global cooperation is needed to address rising poverty, conflict casualties, and displacement. Despite progress in renewable energy, more action is crucial for a just energy transition to achieve the SDGs by 2030.
Midcaps stocks for long term investors: 5 stocks from different sectors with right financial & growth matrix and upside potential of up to 49%
Buying quality stocks should be one of the basic principles while investing in markets. But when one is buying mid-cap stocks this principle becomes even more important for multiple reasons. At this point of time, when valuations are high and small corrections can lead to strong negative reactions in stock prices. So, while capital gains is the objective, never lose the perspective of protecting capital from sudden shocks. Now how does one do it? Look at the underlying business which is best understood by going through its annual report and look at a certain basic ratio in order to figure out how much return that underlying business can generate in best and worst case.
India's healthcare in critical condition: 4 out of 5 public health centers below par, reveals new Govt report
A recent Indian government self-assessment reveals that most public health facilities, including district hospitals and primary centers, fall short of essential standards. Only 20% meet benchmarks for infrastructure and resources, with 42% scoring below 50%. Initiatives aim to bring 70,000 facilities to standard within 100 days, backed by inspections and funding under the National Health Mission. This highlights urgent reforms needed to enhance healthcare nationwide, promising better services and equity in healthcare delivery.
FATF lauds India efforts to combat laundering and terrorist financing
The Financial Action Task Force (FATF) has recognized India's achievements in combating money laundering and terrorism funding. The MER, adopted in Singapore, places India in the'regular follow-up' category, a distinction shared by only four other G20 countries. The MER assessed India's measures and compliance with FATF norms.
Privatisation of Pakistan International Airlines schedule for early August: Reports
In the upcoming privatisation of Pakistan International Airlines, Finance Minister Muhammad Aurangzeb and Coordinator to Prime Minister Shahbaz Sharif play crucial roles in ensuring transparency and efficiency in the process.
First NFRA annual report on eight audit firms by November
The National Financial Reporting Authority (NFRA) is set to conduct its first annual inspection of eight audit firms, including the Big Five, to reveal its findings by October or November. The inspection will focus on auditors' processes and standards, revealing how NFRA plans to strengthen the country's audit and accounting ecosystem to combat corporate frauds and uphold shareholders' interests in a rapidly growing economy.
India's non-banking financial sector grew by 10%; declined globally by 3 %
India's non-banking financial sector grew by 10% as per an SBI report, while the global sector saw a 3% decline. NBFI entities focus on lending and financing without public deposits. The report noted India as the third-largest in the sector, highlighting the banking system's resilience, improved asset quality, macroeconomic fundamentals, and government initiatives for a level playing field. RBI's proactive measures ensured stability, growth, innovation, and advancements in digital banking.
Global rates will come down, India certainly to be a top beneficiary: Jose Vinals, Standard Chartered
The Indian elections resulted in a surprise, denying an outright majority to the BJP. Despite this, prospects of strong growth through Narendra Modi's third premiership offer comfort to international businesses, as highlighted by Jose Vinals, chairman of Standard Chartered.
Suzlon shares dip 5% as independent director resigns
Shares of Suzlon Energy dropped by 5% during Monday's early session, hitting the day’s low of Rs 47. This decline followed the resignation of the company’s independent director, Marc Desaedeleer, from his directorship on June 8.
DGCA de-rosters Mumbai ATC officer after near-miss incident
In the early hours of Saturday, IndiGo flight 5053, arriving from Devi Ahilyabai Holkar Airport (IDR), landed on runway 27 while Air India flight 657 was still in the process of taking off for Thiruvananthapuram International Airport (TRV). Both flights involved Airbus A320neo aircraft. The close timing of the landing and takeoff created a hazardous situation that could have resulted in a significant accident.
Ind vs Pak T20 World Cup 2024 pitch report, venue, squads, match timing & live telecast
Ind vs Pak Pitch Report: India is gearing up to take on Pakistan in an ICC T20 World Cup clash at the Nassau County International Cricket Stadium. Pakistan, having suffered an unexpected loss to the USA, is eager to rebound against India. With little time to adapt to the demanding conditions, Pakistan skipper Babar Azam and his squad confront a formidable challenge. A loss to India could potentially complicate their path to qualification in the tournament.
4 questions to ask before choosing where to study abroad
Today's globalized education market sees a surge in international education ads in India promising opportunities under 20 lakhs/year. However, rising demand, housing issues in countries like Canada and Australia, declining acceptance rates, and conflicts complicate the landscape.
RBI says India's banking sector is sound and resilient, Gross NPA is below 3%
During the Monetary Policy announcement, RBI Governor Shaktikanta Das emphasized India's robust banking system, with gross NPA levels below 3% for scheduled commercial banks and NBFCs as of March 2024. He highlighted factors like improved provisioning, capital adequacy, and profitability, stressing the importance of governance, risk management, and compliance enhancements.
Move on from fafda, paratha and cater to international quality: Food Processing Secy tells industry
Anita Praveen, Secretary, Ministry of Food Processing Industries, says the time has come to start manufacturing products that appeal to everyone's taste globally.
Adopting global standard, infra, risk-based regulation to help India improve quality of goods for exports: GTRI
The GTRI also recommended support to SMEs, avoiding quality control orders becoming non-tariff barriers, regulatory impact assessment, developing globally acceptable standards and inking mutual recognition pacts with trading partners to strengthen India's quality systems.
Audit panels of companies can’t escape blame by citing auditors’ failure: NFRA chief
NFRA chairman Ajay Bhushan Pandey emphasized the audit committee's responsibility in ensuring accurate financial statements, even if auditors fail in their duty. He highlighted the need for meaningful communication between audit committees and auditors, stating that it should not be a mere formality. Pandey's remarks come as the NFRA plans to engage with large listed companies to promote accounting standards and curb corporate frauds. This regulatory outreach is part of efforts to protect retail stock investors, a focus highlighted by Finance Minister Nirmala Sitharaman.
RBI projects real GDP growth at 7% in FY25, says outlook for Indian economy remains bright
The Reserve Bank of India's annual report projects a 7% growth for the Indian economy in the current fiscal year. It highlights the economy's resilience and sustained strengthening of macroeconomic fundamentals. The report notes a robust expansion in the previous fiscal year, with real GDP growth reaching 7.6%. Despite headwinds, the outlook remains positive due to government investments and consumer optimism.
NFRA to engage with some big listed companies on audit compliance
The regulatory outreach could involve the NFRA's engagement with audit panels, independent directors, chief financial officers and others on the boards of these companies, said one of the persons. The regulator is close to finalising a framework to hold such huddles and may invite listed companies, where large public interest is involved, for such meetings, according to another person.
21 international organisations write to CJI for speedy resolution of Adani coal imports case in SC
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
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