The average long-term US mortgage rate rose slightly this week, snapping a four-week decline that had brought borrowing costs to their lowest level in over a year, AP reported.Mortgage buyer Freddie Mac said on Thursday that the average rate on a 30-year fixed mortgage ticked up to 6.22% from 6.17% a week earlier. A year…
The Institute of Chartered Accountants of India (ICAI) on Thursday presented its suggestions to a Parliamentary panel reviewing proposed changes to the Insolvency and Bankruptcy Code (IBC), aimed at strengthening and streamlining the insolvency resolution framework.The Select Committee of Parliament, headed by BJP MP Baijayant Panda, is examining the Insolvency and Bankruptcy Code (Amendment) Bill,…
Shares of State Bank of India (SBI) are witnessing renewed investor optimism following its strong September-quarter performance, prompting top brokerages to raise their price targets by as much as 20% over the next year.Analysts said the lender’s steady profit growth and improving asset quality have strengthened investor confidence, while derivatives data indicated fresh bullish positions…
Markets regulator Sebi has proposed a major revamp of the certification framework for securities market professionals, aiming to expand participation and upgrade skill standards in line with evolving market needs.In a consultation paper released on Thursday, Sebi suggested broadening the definition of “Associated Persons” to include not only those employed by intermediaries and regulated entities…
An average Indian immigrant actually reduces the US national debt by over $1.6 million over 30 years. (AI image) Donald Trump has been vocal about his belief that immigrants in the US are taking away jobs from Americans. His increasing restrictions on even legal immigration channels are proof enough! Just recently the highly popular visa…
AstraZeneca reported a sharp rise in quarterly profit on Thursday, with strong US growth and robust sales of cancer drugs driving a 77% year-on-year jump in net earnings to $2.53 billion for the third quarter.The British pharmaceutical major said group revenue grew 12% to $15.2 billion, led by oncology treatments that now account for nearly…
The Bank of England (BoE) on Thursday kept its benchmark interest rate unchanged at 4%, opting for caution ahead of the UK government’s upcoming budget later this month that is expected to include tax increases, AFP reported.Governor Andrew Bailey said the central bank remained confident that rates were on a “gradual path downwards” but stressed…
Life Insurance Corporation of India (LIC) has delivered another strong quarterly performance, with higher premium income and expanding assets driving a 31% year-on-year rise in consolidated net profit to Rs 10,098 crore for the September quarter.The state-run insurer’s premium income rose 5.5% to Rs 1,26,930 crore from Rs 1,20,326 crore a year earlier, even as…
Finance Minister Nirmala Sitharaman on Thursday said India needs large, world-class banks to support its expanding economy, adding that the government is in talks with the Reserve Bank of India (RBI) and lenders to build scale and strengthen the sector.Speaking at the 12th SBI Banking and Economics Conclave 2025, Sitharaman urged banks to deepen and…
MUMBAI: State Bank of India said it will divest 3.2 crore shares, or 6.3%, of its stake in SBI Funds Management through an IPO, subject to regulatory approvals. Co-promoter Amundi India Holding will sell 1.9 crore shares, or 3.7%, taking the total offering to 10% of the company’s equity, or about 5.1 crore shares. The…
