S&P Global Ratings on Thursday revised the credit outlook for Vedanta Resources Ltd to negative, citing increased funding risks. The agency has affirmed the ‘B-‘ rating for the company. It indicates a relatively higher credit risk. In a statement, it said Vedanta Resources’ weakened access to cash flow from its operating subsidiaries at a time … Read more
The Dow Jones Industrial Average led Wall Street higher on Monday and notched its longest winning streak in six years as investors bet on sectors beyond technology in a week filled with earnings reports and a Federal Reserve meeting. “What you’re seeing now is people broadening the breadth of the market,” said Randy Frederick, managing … Read more
The Third Meeting of the G20 Disaster Risk Reduction Working Group was held in Chennai on Monday, July 24, 2023 | Photo Credit: Special Arrangement Over the past few years, India has completely transformed the way disaster risk reduction is financed, said Principal Secretary to the Prime Minister, P. K. Mishra. Speaking at the Third Meeting of the … Read more
Indian bond yields could increase 4-11 basis points in the quarter ending September, driven by crude oil prices and the inflation trajectory, forecasts Crisil. Yield on the 10-year benchmark government bond could move up 4 basis points (bps) in the three-month period, while the change for corporate and state bonds could be as much as … Read more
“Similarly MFIs have been ignored for long but MFIs follow a cycle so if you get the cycle right the upside can be big. So MFIs and mortgage or housing finances within NBFCs where we are currently investing,” says Viral Berawala, Director, Buoyant Capital.Have you started buying pharma yet because that too is showing sparks … Read more
A group of four men was arrested by the Saroornagar police for kidnapping and assaulting two officers from the Central Excise Department when they had reportedly gone to conduct raids on Wednesday. Police rescued them from the gang and nabbed the accused. The officials had reportedly gone to raid the places on information that the … Read more
The strong debt profile of Indian companies was key to maintaining the country’s macroeconomic stability, which is expected to further improve as the current account deficit (CAD) for this fiscal year is set to be smaller than earlier estimates, a finance ministry report said Monday. Supported by gains from high services exports, moderation in oil … Read more
T.N. Finance Minister Palanivel Thiaga Rajan to present State Budget Finance Minister Palanivel Thiaga Rajan is set to present the Budget for 2023-24 in the State Legislative Assembly in Chennai. The Finance Minister would also present the vote on account for the first few months of 2023-24 and the final supplementary estimates for 2022-23 in … Read more
Congress President Mallikarjun Kharge with senior party leader Sonia Gandhi during the 85th Plenary Session of the Indian National Congress, in Raipur on February 25, 2023. | Photo Credit: PTI Congress economic resolution identifies job creation as the cornerstone of policy making The Congress, terming employment generation as the core and foundation of its draft … Read more
Redemption under the government’s sovereign gold bond scheme is expected to jump five times from the FY23 level to ₹1,500 crore next fiscal, officials said. Investors would resort to greater redemptions next fiscal to take advantage of the elevated gold prices once the initial lock-in period is over for many of them. The scheme was … Read more