PURCHASES
China's central bank refrains from gold purchases for a 2nd month
The pause by the People's Bank of China (PBOC) started in May, when spot gold prices hit a record high. The previous 18 months of consistent buying by the PBOC, along with demand from other central banks, contributed to the gold rally from March to May.
GTA VI may use cryptocurrency as payment methods, here's what you should know
GTA VI, that is slated to be released in 2025, may use cryptocurrency as a payment type for in-game purchases, if reports are to be believed. This comes as a surprise for gaming geeks as this was previously unheard of in previous versions of Grand Theft Auto games.
Shriram Life Insurance launches Deferred Annuity Plan
Shriram Life's Deferred Annuity Plan, starting at Rs 60,000 annually for ages 40-75, offers a 5-10 year deferment period before annuity payments commence. Providing a Return of Purchase Price, it ensures financial independence, particularly for entrepreneurs not under social security. Premium is refunded upon terminal illness or death, stated MD and CEO Casparus J H Kromhout.
Tesla cars for first time on Chinese government purchase list
Tesla's Model Y has been included in a list of electric and plug-in hybrid models that local governments in China can purchase as service cars. This is the first time Tesla's cars have been eligible for government purchases in China. The Jiangsu provincial government published 56 batches of new energy vehicle procurements for use as service cars by party, government, and public organizations.
FCI wheat procurement hits 26.6 mn tn, surpassing last year's purchase
The government's robust procurement efforts, exceeding targets in wheat and paddy, have significantly bolstered food security. FCI's strong storage infrastructure ensures the maintenance of adequate food supplies, benefitting millions of farmers across the country.
JSW Energy inks power purchase agreements via its arms for 1,325 MW renewable projects
JSW Energy has signed power purchase agreements with subsidiaries for wind and solar projects, totaling 1,325 MW. This brings the company's total locked-in capacity to 13.6 GW. The agreements account for 36% of the company's pipeline capacity, aiming to achieve 20 GW capacity by 2030.
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Juniper Green Energy secures renewable PPAs in Gujarat, Rajasthan
Juniper Green Energy announced on Wednesday that it has signed power purchase agreements for renewable energy projects in Gujarat and Rajasthan. The company has secured an agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) under wind phase VI for a standalone 90 MW wind project in Gujarat. The aim of these projects is to promote renewable energy in these regions.
The Boy and the Heron Movie: All about digital, physical editions, streaming release and where to watch in US and other countries
"The Boy and the Heron," available on Amazon, Microsoft Store, and iTunes in the US, will have a digital release in the UK later. The film, a magical adventure, follows a boy grieving his mother's death, guided by a talking heron.
CCI approves IT services firm Coforge’s stake purchase in Cigniti
The Competition Commission of India (CCI) gave its stamp of approval on Tuesday for IT services firm Coforge to acquire a controlling stake in Cigniti Technologies.
US PMI data triggers sharp decline in gold prices
Gold prices surged to a two-week high of $2,366 following a second rate cut by the Swiss National Bank and weaker US data. Traders anticipate a move by the US Federal Reserve, especially after the European Central Bank's rate cut.
Eurozone business activity slows on French vote risk
Euro-area private-sector business activity lost momentum as France's snap election outcome weighs on firms. S&P Global's PMI fell to 50.8 in June, disappointing analysts. Europe's economy, recovering from last year's recession, faces challenges.
Triveni Engineering & Industries acquires majority stake in Sir Shadi Lal Enterprises
Triveni Engineering & Industries Ltd announced acquiring an additional 36.34% stake in Sir Shadi Lal Enterprises Limited, making SSEL a subsidiary of the company.
FPIs’ G-Sec purchases cross $10-billion mark
Nine months after JP Morgan announced the inclusion of Indian government debt in its emerging markets index, foreign portfolio investors have increased their ownership of sovereign bonds by over $10 billion. The influx of funds is expected to continue as India's index weightage grows.
How ‘Mehengai’ impacts your real rate of return
Inflation impacts stakeholders like companies, investors, and the economy. Central banks manage inflation. Real Rate of Return is crucial for investment performance.
S&P 500, Nasdaq hit record closing highs ahead of data, Fed comments
The S&P 500 and Nasdaq hit record highs fueled by technology shares and AI enthusiasm ahead of economic data and Fed speeches.
DERC releases draft regulation for green power obligations on discoms
The DERC has issued draft regulations mandating a 29.91% green energy purchase for stakeholders in 2024. RPOs require electricity distribution licensees to buy energy from renewable sources.
"Financial status of Telangana govt decreasing day by day, Treasury becoming empty": BJP's NVSS Prabhakar
he said that on one side there is the Kaleshwaram project and on the other side there is the power project-inquiry. He questioned how the Congress government was going to pay the pending bills to the contractors.
Oil prices extend rally on potential U.S. crude purchase for reserve
Oil prices rose on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, supported by expectations of rising fuel demand this summer. Market focus is on the Fed's policy meeting and upcoming reports from OPEC and the International Energy Agency. Analysts expect Brent to rise to $86 a barrel in the third quarter.
Why your MF purchases on June 4 did not go through the same day?
Investors rushed to invest lump sums in equity mutual fund schemes on June 4 after the stock market fell post the electoral verdict. They expressed disappointment on social media as they received the units at the NAV of the next day, missing out on taking advantage of the market rebound.
What are riders with insurance policies? All you need to know
Riders are essentially additional benefits that one can purchase and add to an existing policy.
From stuffed toys to sports cars, sales break gender rules
Gender norms are blurring in purchasing decisions, particularly in urban India, with more men and women adopting newer hats in their social and professional lives. Consumer goods companies are adapting their marketing strategies to address this change. Women are increasingly buying 'toys for boys', such as drones and remote-control cars, accounting for 25-30% of Hamleys' sales.
Gold slides 3% on double blow of strong jobs report, China data
Gold prices fell 3% to $2,304.54 after a strong U.S. jobs report dampened expectations for rate cuts, exacerbated by China's pause in gold purchases in May.
Tripti Dimri joins Mumbai's elite with lavish bungalow purchase worth Rs 14 cr: Check details
Bollywood actress Tripti Dimri has purchased a luxurious bungalow in Mumbai's Bandra West for Rs 14 crore. The property, located off Carter Road, includes a ground-plus-two-storey structure with a total area of 2,226 square feet. Dimri paid Rs 70 lakh in stamp duty and a registration fee of Rs 30,000. The transaction was registered on June 3, 2024.
Gold Price Today: China pulls plug on buying, yellow metal plunges Rs 1,200/10 gram, silver by Rs 3,300/kg
Gold prices fell on Friday due to Chinese central bank halting purchases after hitting record highs. According to analysts, the record rally in gold has been a trigger behind the move.
China's exports grow 7.6% in May, beating expectations despite trade tensions
In May, China's exports surged by 7.6% year-on-year to $302.35 billion, surpassing expectations, despite ongoing trade tensions. Imports, however, grew only by 1.8%, missing forecasts of 4% growth. This led to a widened trade surplus of $82.62 billion. The rise in exports is partly due to a low base from last year.
A 1°C rise in global temperature causes a 12% decline in world GDP: Adrien Bilal
Adrien Bilal discusses the macroeconomic impacts of global temperature rises in the Anthropocene with Srijana Mitra Das at Harvard University.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
Holiday home demand tapers off as rentals fall
Goa is becoming a first-home market with interest from businessmen and startup founders. Luxury second homes are in demand, especially in locations like Porvorim. Coonoor Estates is developing high-end luxury homes for buyers looking to settle down.
Ecommerce fails to click for firms in Q4 as sales dip across segments
Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.
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