• Sun, December 15, 2024

by: Business Line

Public sector banks record net profit of ?85,520 crore in first half FY2024-25

by: AOL

TKer: The price-to-earnings ratio is a very poor market-timing tool

This is on $275 earnings per share (EPS) for the year. "The quality of economic, business, consumer and job growth data from the start of the Fed's rate hike cycle in March of 2022 through the initial cuts to its benchmark interest rate in September and ...

by: The Age

The $100k loan contract between Cats legend Joel Selwood and an accused fraudster

Loan documents reveal a man now under police investigation proposed to borrow $100,000 from Selwood, who would be repaid the principal and interest of $10,000 after eight months.

by: Couriermail

'Will see a rise': Warning as bosses continue to ignore Right to Disconnect legislation

Australia's new Right to Disconnect laws have been in place for months now, but it seems many employers still aren't getting it — and its something we will likely see causing big issues in 2025.

by: Arabian Business

Emirates wins titles at World Travel Awards 2024

Emirates secured several wins at the World Travel Awards 2024, including: The airline was also recognised as "Best Airline App Worldwide" and "Best Airline App in the Middle East" at the World Travel Tech Awards 2024.

by: The New Zealand Herald

Former Blue Chip boss Mark Bryers jailed in Australia

Kiwi fraudster and former Blue Chip boss Mark Bryers has been jailed in Australia. Bryers, with construction boss George Alex, Lindsay Kirschberg, Pasquale Loccisano, and Gordon McAndrew were found guilty of conspiracy to cause loss and conspiring to deal in the proceeds of crime,

by: The Straits Times

What is it like being a young boss?

How to convince people to look past your age as a young leader? 14:53 How to inspire confidence among those you lead? 16:59 Has Qin En ever felt he has peaked early in his ca

by: CTV News

Canada Post, union make their case at labour board hearings

Canada Post says it and the union are taking part in hearings by the country's labour board on whether the two sides have reached an impasse.

by: Sydney Morning Herald

Rates in the gun in the biggest shake-up at Reserve Bank in 64 years

Treasurer Jim Chalmers' overhaul of the Reserve Bank board is complete, with six people appointed to help run the bank and set interest rates.

by: The Globe and Mail

Freeland's fall economic statement to target affordability, U.S. competition amid scrutiny over spending

Freeland has said Monday's statement will also respond to Trump's pre-emptive threat of a 25-per-cent tariff on Canadian goods without action to strengthen the border

by: bnnbloomberg

Australia Names Fry-McKibbin, Baker to RBA's Rate-Setting Board

McKibbin, who participated in the review of the central bank, and former Bendigo and Adelaide Bank CEO Marnie Baker to the Reserve Bank's new monetary policy committee.

by: moneycontrol.com

Preparing a will online? Understand the process and its pitfalls

Online wills are convenient and affordable, but may not be suitable for complex estates or unique circumstances.

by: Firstpost

Sri Lanka's Dissanayake opts India for first overseas trip, what's on agenda?

Sri Lanka's President Anura Kumara Dissanayake arrived in New Delhi on Sunday on a 3-day State visit. He has a packed schedule, unlike his last visit around 10 months ago as a delegation head of his anti-India party NPP.

by: MSN

Sri Lanka President Arrives in India, Holds Talks With Jaishankar, Sitharaman

Sri Lankan President Anura Kumara Dissanayake arrived in New Delhi on Sunday for a state visit from December 15 to December 17. The visit marks Dissanayake's first trip to India since assuming office in September.

by: moneycontrol.com

Insurance in 2024: Higher life insurance surrender values, shorter moratorium period in health insurance and more

Preeti Kulkarni is a financial journalist with over 13 years of experience. Based in Mumbai, she covers the personal finance beat for Moneycontrol. She focusses primarily on insurance, banking, taxation and financial planning Advisory Alert: It has come to ...

by: MSN

Truphie Kwaka-Sumba: A Journey of Faith, Leadership & Opportunities

Sumba, the Deputy Vice Chancellor for Finance and Administration at St. Paul's University, has a calm yet commanding presence. Her journey through business, academia, and administration is a story of resilience,

by: The Globe and Mail

Ottawa intervenes in Canada Post strike, Bank of Canada delivers a cut and the 100 most livable cities: Business and investing stories for Dec. 15

Ottawa directed the Canadian Industrial Relations Board to order striking Canada Post workers back to their jobs, and to extend their existing collective agreement until May, 2025. Labour Minister Steve MacKinnon said a federal mediator appointed by the government during the strike informed him that negotiations were going in the wrong direction,

by: MSN

New IRS 1099-K Tax Rule: Here's What Freelancers Who Made Money on PayPal or Cash App Need to Know

If you earned over $5,000 or more in income via third-party apps, you should get a 1099-K to file with your tax return.

by: moneycontrol.com

DAM Capital sets price band at Rs 269-283 per share: Listing timeline and IPO details

The IPO is an offer-for-sale (OFS) of up to 2.97 crore shares by existing shareholders and promoters. At the upper price band, the issue size is nearly Rs 840 crore, valuing the company at a market capitalization of around Rs 2,

by: MSN

From half-pipes to high finance: What investors can learn from Tony Hawk's unexpected success and smart investments

Discover how pro skateboarder Tony Hawk's unexpected financial success through his Pro Skate video game series offers valuable lessons about the importance of humility, giving back, and the need to di

by: MSN

11 Proven Ways to Make Extra Cash Online Without Spending a Dime

Have you ever wished you could make extra money working from home? The key is to find a great way to make money online for free. Contrary to popular belief, there are plenty of legit ways to make real money online;
  • Mon, December 16, 2024

by: The Age

The $100,000 loan contract between Cats legend Joel Selwood and an accused fraudster

Loan documents reveal a man now under police investigation proposed to borrow $100,000 from Selwood, who would be repaid the principal and interest of $10,000 after eight months.

by: Arabian Business

When the drums fall silent - legendary drummer Zakir Hussain passes away

The five-time Grammy winner died on Sunday in San Francisco after spending two weeks in the ICU with idiopathic pulmonary fibrosis

by: Rappler

Pagcor leases Nayong Pilipino property to San Miguel for 25 years

Pagcor says the construction of its new office building was a 'major consideration' for the agreement with San Miguel Infrastructure

by: TechRadar

What is inferencing and training in AI?

In short, training builds the foundation, while inferencing brings that knowledge to life in practical, real-world applications. Inferencing is when AI puts its training into practice, tackling real-world challenges like predictions and data analysis. But first, it needs thorough preparation to ensure success.

by: sinchew

The 1st International Cerebro-cardiovascular Medical Innovation Summit (ICMIS) a great success

Experts from Various Fields Gather to Discuss Cutting-Edge Medical Topics "Innovation+ Finance" Boosts Development of Medical Startups in Hong KongHONG KONG SAR - Media OutReach Newswire - 16 December 2024 - The Hong

by: Winnipeg Free Press

Ottawa to unveil economic update detailing deficit, new border security package

The Liberal government in Ottawa is set to unveil its fall economic update today, its first spending package since Donald Trump won the November presidential election. Ottawa is

by: Business Today

SEBI has adequate internal mechanisms for addressing issues relating to conflict of interest: MoS Finance

Unclaimed and outstanding maturity claims with LIC rises to Rs 880.93 crore in FY24 from Rs 480.78 crore in FY20.

by: Business Today

Wealth destroyers: These stocks slipped over 50% in 2024; here's what analysts say for 2025

Even as 70% of the stocks in the BSE Sensex, BSE Midcap, and BSE Smallcap indices have delivered positive returns during the current calendar year, a significant number — approximately 325 — are grappling to remain above water.

by: India Today

Parliament Session Live: Congress walks out of Lok Sabha over removal of 1971 war painting Army chief's office

The Rajya Sabha is set to convene today for a two-day discussion marking 75 years since the adoption of the Constitution. While the focus of the debate is expected to be on the significance and evolution of the Constitution since its adoption on November 26,

by: Cyprus Mail

Elevate your career with PwC's Academy Business Professionals Certificate (BPC): Your key to business excellence!

In today's rapidly evolving business landscape, having a solid foundation in accounting and finance is more critical than ever. Whether you're a high school graduate, a university graduate, a career changer,

by: Daily Monitor

BoU, Ministry of Finance lock horns over audit on money heist

BoU has so far been unsuccessful in getting back the funds wired in Tokyo, and likely won't, according to people familiar with the matter

by: Forbes

Trump's Cabinet And Key Jobs: Ric Grenell And Devin Nunes Are Latest Nominees

Nunes, chief executive of Trump-owned Truth Social, was announced as the president-elect's nominee for chairman of the President's Intelligence Advisory Board.

by: India Today

Parliament Session Live: Constitution discussion in Rajya Sabha, Lok Sabha to focus on financial business

The Rajya Sabha is set to convene today for a two-day discussion marking 75 years since the adoption of the Constitution. While the focus of the debate is expected to be on the significance and evolution of the Constitution since its adoption on November 26,

by: moneycontrol.com

Credit cards and your financial future: How they impact your credit score and loans

Credit cards are a double-edged sword when it comes to your financial health. While they provide convenience, rewards, and a credit history, they can also significantly impact your credit score and loan eligibility. Understanding the connection between your credit card usage and your financial profile is essential for making informed decisions.

by: moneycontrol.com

Business Loan: Key documents needed to secure financing, check full list

Business loans can fuel growth and stability for entrepreneurs, but securing one requires meticulous preparation. From identity proofs to financial statements, discover the documents needed for your application process.

by: Business Standard

Secured vs. Unsecured Personal Loans: A Comprehensive Guide to Finding the Right Fit

Navigating the world of personal loans can be challenging, especially when deciding between secured and unsecured options. Understanding the differences between these two types of loans is crucial to making informed financial decisions.

by: Business Standard

Sebi's new proposal: DigiLocker to become key in asset transfer after death

In case of a user's death, DigiLocker will update the account status based on death registration data from the Registrar General of India (RGI), or information from the KRA system.

by: Business Standard

Explained: Youtube influencer fined Rs 9.5 cr for illegal investment advice

The company marketed high returns based on the credentials of Ravindra Balu Bharti, a financial influencer running two YouTube channels with 10.8 lakh and 8.33 lakh subscribers, respectively.

by: Business Standard

Canada's IRCC to Indian students: Resubmit visas, study permits, other docs

The requests have caused alarm among international students, many of whom hold valid visas with up to two years of remaining validity

by: Business Standard

HNIs, NRIs to rule India's luxury housing mkt: 2025 realty trends decoded

Infrastructure development will further fast-track real estate growth in Tier-II & III cities including temple towns such as Amritsar, Ayodhya, Dwarka, Puri, Shirdi, Tirupati, Varanasi, etc.

by: Business Standard

What factors determine fair alimony? Latest SC ruling on divorce explained

The Supreme Court's recent ruling in the Rajnesh vs Neha case outlines eight key factors that determine alimony, focusing on financial capacity, standard of living, and the welfare of children.

by: Business Standard

Declaring foreign assets in tax returns form: What Indians must know

It is mandatory for Indian residents to disclose their foreign assets and income in their Income Tax Return (ITR). Specifically, Schedule FA (Foreign Assets) in the ITR form is meant for reporting foreign assets, and Schedule FSI (Foreign Source Income) is for reporting income from foreign sources.

by: Reuters

Bitcoin buyer MicroStrategy jumps on Nasdaq 100 entry

MicroStrategy shares rose nearly 7.4% in Frankfurt trading on Monday as the software company and bitcoin buyer was set to join the tech-heavy Nasdaq 100 index that could further fuel the steep rise in its stock price.

by: MSN

More Americans have brighter outlook on state of finances for next year: survey

As the new year approaches, more Americans have a brighter outlook for the state of their personal finances in 2025, a recent Bankrate survey indicated.

by: MSN

US case against India's Gautam Adani appears strong but extradition unlikely, experts say

The U.S. fraud case against Indian billionaire Gautam Adani appears to be backed by documents that will help prosecutors make a strong case, legal experts said, but the tycoon is unlikely to be extradited to stand trial anytime soon.

by: MSN

I'm a Financial Advisor: 5 Ways My Millionaire Clients Have Wasted Money in 2024

Poppin' bottles in the VIP room? Some would call that wasteful spending. Others would call it being rich. After all, for some, having money often means having less vigilance regarding where

by: MSN

Mytheresa Emerges as the Hero in the 2024 Drama of Luxury E-commerce

Frasers Group gave up on Matches, Coupang has begun its reboot of Farfetch and Richemont has agreed to sell Yoox Net-a-porter to a thriving rival, Mytheresa. It's been a year of shock - and change - for multibrand online luxury retailers.

Public sector banks record net profit of ?85,520 crore in first half FY2024-25

Public sector banks (PSBs), led by SBI, set for another stellar year in 2024-25 with record profits and transformative reforms.
Public sector banks in India have reported a significant increase in net profits, reaching ₹85,520 crore in the first half of the fiscal year 2024-25, as per data from the Finance Ministry. This marks a 61% rise compared to the ₹53,080 crore recorded in the same period of the previous fiscal year. The improvement in financial performance is attributed to better asset quality, with gross non-performing assets (NPAs) decreasing to 3.75% from 4.61% and net NPAs reducing to 0.76% from 1.17%. Additionally, the provisioning coverage ratio has improved to 92.34% from 90.89%, indicating stronger financial health and risk management. The return on assets also saw an uptick to 0.92% from 0.64%, reflecting enhanced profitability. This performance underscores the ongoing recovery and strengthening of public sector banks, supported by government initiatives and internal reforms.

Read the Full Business Line Article at:
https://www.thehindubusinessline.com/economy/public-sector-banks-record-net-profit-of-85520-crore-in-first-half-fy2024-25/article68988979.ece

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