NEWSLETTER | GOLD, SILVER DROP AMID STRONGER DOLLAR; APPLE IPHONE SE'S POTENTIAL EARLY REFRESH & MORE
From gold and silver drop amid stronger dollar to Apple iPhone SE's potential early refresh — here are the top 11 news stories across business, global events, tech, and more
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HAL share price surges over 5% after ₹26,000 crore order win; Antique says 'attractively valued'
Shares of Hindustan Aeronautics Ltd. will be in focus today after the Cabinet Committee on Security approved the procurement of 240 AL-31 FP aero-engines from the company.
The contract is said to be valued at ₹26,000 crore and the deliveries for the same will begin in a year from now. The deliveries are likely to be completed over an eight year period. Last month, reports had suggested that there is uncertainty over HAL's delivery timeline for the new Tejas Light Combat aircraft for the current financial year and beyond. This was attributed to the delays in engine deliveries to HAL by General Electric.
ICICI Bank refutes allegations of salary payments to SEBI chief post-retirement
ICICI Bank has issued a statement refuting media reports that allege the lender continued paying a salary to SEBI Chairperson Madhabi Puri Buch after her retirement.
The bank clarified that no salary or ESOPs have been granted to Buch since her retirement on October 31, 2013, aside from her rightful retirement benefits.
In its statement, ICICI Bank explained that the payments made to Buch post-retirement were solely related to Employee Stock Options (ESOPs) and retiral benefits accrued during her tenure with the bank. These ESOPs, as per the bank’s rules at the time, could be exercised up to 10 years after vesting, even by retired employees. The bank also noted that the tax on these benefits, as required by Income Tax rules, was reflected in the Form 16 issued to Buch.
IAF to receive 240 aero-engines for Su-30 MKI fleet from HAL in ₹26,000 crore deal
The Cabinet Committee on Security (CCS) on Monday, September 2, greenlit the acquisition of 240 AL-31FP aero-engines for the Indian Air Force’s (IAF) Su-30 MKI aircraft, as announced by the Ministry of Defence.
Valued at over ₹26,000 crore, the contract will see Hindustan Aeronautics Limited (HAL) provide these engines under the Buy (Indian) category. "The delivery of these aero-engines would start after one year and complete over a period of eight years," the ministry informed in a statement."The engines will have indigenous content over 54%, enhanced due to indigenisation of some key components of aero-engines," it added.
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Why cardiac rehabilitation is the need of the hour — a healthcare leader's perspective
Over 500 million individuals worldwide are impacted by cardiovascular disease, a challenge exacerbated by worsening diets, reduced physical activity, and lifestyle changes. Cardiovascular diseases are associated with significant morbidity and mortality, with the World Health Organization (WHO) estimating these non-communicable diseases (NCDs) contribute to 27% of all deaths in India as of 2023.
These diseases tend to affect patients in the most productive years of their lives, resulting in catastrophic social and economic consequences. Therefore, cardiac rehabilitation and patient empowerment are imperative to improve overall healthcare quality.
Apple's Budget iPhone SE May Get an Early Refresh—Here's what we know
Apple’s cheapest smartphone, the iPhone SE is expected to get a refresh this cycle and netizens suspect that it could be sooner than the usual spring launch. The tech giant announced its “It’s Glowtime” event for September 9 where it will unveil the upcoming iPhone 16 series.
However, there are reasons to believe that the iPhone SE could also be released at the same event. In the latest edition of his weekly newsletter, Power On, Bloomberg’s Mark Gurman noted that inventory for several iPhone models, including the current iPhone SE, is running low.
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online platforms to reach 100 million followers
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EVs are the weapons and shields in the global game of thrones
In 2014, just a few months after becoming China's president, Xi Jinping attended an event organised by the country's largest automaker SAIC Motor Corp. After having a look at the brand new sedans developed by the company, he gave a speech that went on to change the course of the country's automobile industry.
"The key to becoming a strong automaking empire lies in developing new energy vehicles," he said.At the time, the country sold nearly 75,000 electric vehicles (EVs) and hybrids, and exported over 5 lakh cars. International manufacturers such as Volkswagen AG and General Motors, which were allowed to enter the market by forging joint ventures with local players in the 1980s and 1990s, dominated the domestic market. The local companies that did not join hands with foreign players failed to match the pace and lagged behind in terms of automotive technology.
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Gold and silver prices drop amid stronger dollar: What lies ahead for investors
Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Tuesday, September 3, 2024. Gold futures, maturing on October 4, 2024, stood at ₹71,512 per 10 grams, after a drop of ₹89 or 0.12%.Similarly, silver futures, maturing on December 5, 2024, fell by ₹264 or 0.31%, trading at ₹84,290 per kg. This decline reflects broader trends in global markets as investors await key economic data from the USFactors behind the declineStronger dollar: The dollar remains near a two-week high, making gold less appealing to holders of other currencies.This factor has weighed heavily on gold prices globally.
US economic data: Investors are anticipating several critical US economic reports, including the August non-farm payrolls, ISM surveys, and the JOLTS job openings data.
HDFC Bank launches new savings accounts, business cards, insurance solutions for gig workers
HDFC Bank, India’s largest private sector bank, has unveiled GIGA, a new financial suite tailored specifically for gig workers and freelancers. This digital-first program offers a range of products and services designed to meet the unique needs of this rapidly growing workforce.The gig economy includes a diverse array of professionals—from management consultants and software developers to delivery partners and caregivers.
Key features of GIGA
GIGA savings account: Freelancers can choose between maintaining a quarterly balance (₹10,000 for metro/urban areas and ₹5,000 for semi-urban/rural areas) or starting an investment plan such as a fixed deposit or recurring deposit.
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VerSe Innovation Eyes $100 million revenue with ValueLeaf's acquisition, says Co-Founder Umang Bedi
VerSe Innovation, the pioneering local language technology platform behind Daily Hunt and Josh, has taken a significant step towards enhancing its advertising capabilities by acquiring a majority stake in ValueLeaf Group, a Bharat-focused, data-driven digital marketing solutions provider.This acquisition marks a pivotal moment for VerSe Innovation as it aims to solidify its position in the digital advertising landscape and accelerate its journey towards a $100 million revenue target and a potential IPO.
In an interview to CNBC-TV18, Umang Bedi, Co-Founder of VerSe Innovation, expressed strong confidence in the value that ValueLeaf brings to their business. He highlighted three critical aspects that make this acquisition transformative. “ValueLeaf brings full funnel performance data for over 90% of ads served to India’s internet audience, mid-funnel conversion data from over 200 million installers or clickers, and bottom-funnel purchase data from 70 million consumers,” Bedi stated.
We'll see you tomorrow with another 11:11
2024-09-03T06:20:11Z dg43tfdfdgfd