THE FUTURE OF MONEY
Himachal by-election results: "Victory of people over money power," says CM Sukhu
"This is the victory of people over money power. The voters have delivered a strong rebuke to the politics of horse-trading and have voted to maintain political integrity in the state. It had been 25 years since a Congress candidate won in Dehra. In Nalagarh, too, the candidate secured a significant victory. The election outcome has sent a clear message to the entire country and in the future, no candidate of any party in Himachal Pradesh will dare engage him or her in horse-trading for the next 50 years," said the Chief Minister.
ET Mutual Funds Explains: Want to know the future value of your financial goals? Use this formula
Many investors just pick a random number. Many investors pick up big numbers, usually Rs 50 lakh or Rs 1 crore which they think will suffice for their future. Inflation significantly reduces the purchasing power of money over time, so the amount that appears substantial now might not be enough in the coming years.
Jolt to Biden's re-election campaign as donors hold back USD 90 million pledged earlier
A major setback has hit President Joe Biden's re-election campaign as a group of fundraisers has decided to withhold $90 million in pledged contributions if he remains the Democratic presidential candidate. The New York Times reported on Friday that the frozen funds include multiple eight-figure commitments, as informed by anonymous sources due to the sensitivity of the situation. This decision follows Biden's poor debate performance on June 27 against Donald Trump, which has led to diminished support from key allies.
Exploring the future of crypto derivatives: Insights from Delta Exchange
In a landscape where traditional finance meets cutting-edge technology, Pankaj Balani, co-founder of Delta Exchange, in a recent live stream session on ETMarkets, revealed how cryptocurrency derivatives are opening new avenues for Indian traders.
Nifty Top 10 Equal Weight index: Is it worth your money?
The Nifty Top 10 Equal Weight Index is a new addition by NSE, tracking the top 10 stocks from Nifty 50 with equal weights. While it may be a benchmark for asset managers, retail investors may find better diversification with existing options.
Equity market investors: A new powerful political constituency
India's financial shift includes 13.6 crore investors, about 10% affluent, driven by SEBI and smartphones. Participation extends beyond Maharashtra and Gujarat to states like Uttar Pradesh and Madhya Pradesh. Individual investor opinions shape economic policies. Retail investors hold an 18.5% listed share, contributing ₹25,000 crore via Securities Transaction Tax, despite risky leveraged positions.
How would-be brides can manage finances after marriage
Monisha Choudhary is set to be married soon. There are two critical financial decisions Choudhary needs to make. She should consider her existing assets and investments, which can remain in her name, to be disclosed to her new family at her discretion. She can continue building these assets based on her income allocation. Read here to find what are the other ways to secure finance after marriage.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
Potential for huge NRI money coming into India via GIFT city: Bhavin Shah
“We have investments in large private sector banks, some regional private sector banks, NBFCs, MFI, microfinance, wealth management, life insurance, so pretty much across the board. We continue to find a large number of stocks that are still reasonably valued. We also are overweight on aviation,” says Bhavin Shah
Chinese Communist Party expels two ex-defence ministers on corruption charges
The Chinese Communist Party has expelled two former defense ministers, Li Shangfu and Wei Fenghe, in an anti-corruption crackdown. This move follows Li's disappearance last year and comes amid rising tensions between China and the United States over Taiwan.
Fintech sector will dominate future Unicorns at USD 58 billion: Hurun report
The total worth of India's future unicorns will stand at USD 58 billion, an increase of 1.2 per cent as compared to last year. Fintech sector leads with the highest number of companies that can become Unicorns in future.
Vedanta turns a money-spinner for investors. What's pushing it on?
Shares of Anil Agarwal-owned Vedanta Group, including Vedanta Ltd and Hindustan Zinc Ltd, have surged by Rs 2.2 lakh crore, doubling from their 52-week lows. Vedanta's growth exceeds other top Indian businesses like Reliance and Tata Groups. Brokerages have raised price targets on Vedanta, citing operational efficiencies and demerger prospects. Vedanta plans to invest $20 billion in India, focusing on technology and electronics. Agarwal aims to monetize the steel business to cut debt.
RBI monitoring F&O frenzy in India along with Sebi: Shaktikanta Das
The increased involvement of retail traders, many of whom are experiencing losses in the futures and options (F&O) market, has drawn regulatory scrutiny. A joint early warning group consisting of the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) is closely monitoring this situation.
Oil up on firming demand, Mideast tensions underpin risk premium
Oil prices rose on Tuesday due to a stronger demand outlook and investor confidence in OPEC+ producers. Global benchmark Brent crude futures and U.S. West Texas Intermediate crude futures were up, closing at their highest since April.
War, money, oil and the shaping of Aramco's giant share sale
A large chunk of this month's $11.2 billion share sale was allocated to foreign investors, leading one person involved in the process to describe it as the deal the IPO was supposed to be. Its success could create a template for future Aramco sell-downs, which now seem likely as the Crown Prince - who's known as MBS - seeks cash to help fund his multitrillion-dollar Vision 2030 economic transformation project.
Gold trims decline after US producer prices data
Gold prices trimmed losses on Thursday after weaker-than-expected U.S. producer inflation data raised hopes for two rate cuts in 2024, even as the Federal Reserve's projections called for just one cut this year.
FIU imposes over Rs 1.66 crore fine on Axis Bank for failing to detect fraud NSG account
The Financial Intelligence Unit has fined Axis Bank over Rs 1.66 crore for failure to detect and report suspicious transactions involving a fraudulent account created in the name of the NSG counter-terrorist force. The agency's order under the PMLA found Axis Bank employees complicit in a large-scale fraud. The bank was directed to review its monitoring mechanisms, improve data-sharing practices, and implement stringent employee screening and training programs.
Oil dips on deflated US interest rate cut expectations, OPEC+ decision
Oil prices fell for a third consecutive week as investors considered OPEC+ reassurances and the latest U.S. jobs data impacting Federal Reserve interest rate decisions.
Adult actor Stormy Daniels advises Donald Trump’s wife Melania. Here’s what she said
The adult actor has a piece of advice for Melania Trump. She has asked her to leave her husband, who is the former US President for two reasons. His conviction in a recent case has been listed as one of the reasons.
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