MUMBAI : Financial news and data provider Bloomberg on Tuesday said it will add a set of Indian government bonds to its widely-tracked emerging market index, a development that could potentially attract investment flows of $3-4 billion beginning next year. Global investors with passive investment strategies buy stocks and bonds featuring in global indices, and … Read more
In a best-practices circular released on Tuesday, the Association of Mutual Funds in (AMFI) India said distributors can now earn trail commission on assets under management (AUM) switched to them by investors. Previously, AMCs withheld this commission to discourage unhealthy competition among distributors. However, the industry body has stipulated a cooling-off period of six months. … Read more
GENERATIVE ARTIFICIAL INTELLIGENCE (AI) will transform the workplace. The International Monetary Fund reckons that AI tools, which includes ones that produce text or images from written prompts, will eventually affect 40% of jobs. Goldman Sachs, a bank, says that the technology could replace 300m jobs worldwide. Sceptics say those estimates exaggerate. But some industries seem … Read more
Union Finance Minister Nirmala Sitharaman on Thursday said that the Prime Minister aims to prioritize the upliftment of four key segments of society, namely the ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth), and ‘Annadata’ (Farmers). Sitharaman noted that over the past decade, the government has made substantial strides in addressing multi-dimensional poverty, with assistance reaching 25 … Read more
Foreign brokerage firm CLSA has reiterated its cautious stance on the Indian steel sector citing higher valuations and incremental shift in the profit pool towards miners. The brokerage has downgraded Tata Steel to ‘Sell’ from ‘Outperform’ and cut its target price to ₹135 from ₹145 per share. It has also downgraded JSW Steel to ‘Sell’ … Read more
An Nvidia employee posted this note on Team Blind, a platform that lets verified employees discuss issues anonymously. To be sure, Nvidia—a chip manufacturer that has been in the news recently after its market capitalization surged to over $2 trillion, thereby becoming the third most valuable US-listed firm behind Microsoft and Apple—does not fly its … Read more
Elon Musk filed a lawsuit against ChatGPT-maker OpenAI on Thursday over its relationship with the tech giant Microsoft. A former board member of the OpenAI, Elon Musk has alleged that the artificial intelligence company compromised from its original mission to build AI systems for public welfare and transformed into a profit maximization entity under Microsoft. … Read more
The interim budget laid out several key measures that are likely to assist rural employment and boost farmer income amid a weak demand for packaged goods reported from villages. However, companies said the budget did little to address subdued consumer demand among lower middle income households. Finance minister Nirmala Sitharaman announced in the interim budget … Read more
Bitcoin, world’s foremost cryptocurrency in terms of value, surged to a two-year peak, crossing the $66,000 threshold. This surge came as a substantial influx of funds propelled it tantalizingly close to its all-time highs. Bitcoin surged to a peak of $66,319 during the session, marking a 6.4% increase to $66,254. At its current market value, … Read more
CIBIL score, which ranges from 300 to 900, signifies borrowers’ creditworthiness. Banks and other financial institutions use these scores as one of the factors to determine their eligibility for loans. It is, therefore, considered important to check the score which can help you monitor your financial health. One can check their CIBIL score on the … Read more