Corporations

The success of a well-run business is not determined by its financial performance levels alone, and that is why leaders need to take a holistic approach and consider how each area of the establishment and decisions made about specific contributions to the company can build it up or weigh it down. advertisement advertisement As you work towards achieving your financial goals, it’s also important to find the right balance and prioritize how to maintain a steady cash flow and make wise choices about how and where to invest your time and money to elevate the organization. Below are 16 members of Fast Company Executive Board to share some of the best practices they’ve received about how to manage their company finances. 1.  DEVELOP A LONG-TERM PERSPECTIVE. advertisement As Warren Buffet says: “Think long-term.” As a manager, you have to live months or years ahead of where your company is now. Ask where you want to be in a year and invest … [Read more...] about Leading executives share 16 tips that nurture corporate finance

US President Joe Biden (File image: Reuters) As Americans deal with the highest inflation in decades, President Joe Biden has declared that combating rising costs is a priority for his administration. Lately, he has cited one policy in particular as an inflation-fighting tool: shrinking the nation’s budget deficit. “Bringing down the deficit is one way to ease inflationary pressures in an economy,” Biden said this month. “We reduce federal borrowing and we help combat inflation.” The federal budget deficit — the gap between what the government spends and the tax revenue it takes in — remains large. But Biden has pointed out that it shrank by $350 billion during his first year in office and is expected to fall more than $1 trillion by October, the end of this federal budget year. Rather than stemming from any recent budget measures by his administration or Congress, the deficit reduction largely reflects the rise in tax receipts from strong economic growth and the winding … [Read more...] about Biden’s curious talking point: Lower deficits offer inflation relief

Crude oil price has rocketed upward since Russia launched its invasion of Ukraine on Feb. 24 (Image: Reuters) India is in talks with Russia over a deal to buy oil at discounted rates, the chairman of India's state-run Hindustan Petroleum Corp. said on Thursday, at a time when much of the West is shunning Russian crude over the conflict in Ukraine. India, the world's third biggest oil importer and consumer, is struggling like much of the rest of the world with inflation at multi-year highs, and is keen to cut its import bill and protect consumers from soaring fuel prices. The country has already bought more than twice as much crude from Russia since Moscow's invasion of Ukraine on Feb. 24 as it did in the whole of 2021, according to Reuters calculations, with sources saying Indian buyers were getting discounted prices. Also Read: India buying Russian oil: I will put my country's national interest, energy security first: FM Sitharaman But the comments from HPCL … [Read more...] about Indian government in talks with Russian over cut-price oil deal: HPCL

Finance Minister NIrmala Sitharaman | Illustration: Moneycontrol India has already started buying oil from Russia, since it has come at a discount at a time when the country needs it, Finance Minister Nirmala Sitharaman has said. "We have received quite a number of barrels. I would think about 3-4 days of (national) supply. I would put my country's national interest and energy security first," Sitharaman said at the 17th edition of the CNBC-TV18 India Business Leaders Awards. If fuel is available at a discount, why shouldn't India buy it, the finance minister stressed. Sitharaman's comments come on a day when Russian Foreign Minister Sergey Lavrov is in New Delhi to discuss a range of issues, among which India's oil purchases from Russia, and a new proposed Rupee-Rouble trading mechanism, figure majorly. However, Sitharaman said the global economic climate has been impacted by the Ukraine crisis and that she was entering the new financial year with 'cautious optimism'. … [Read more...] about India buying Russian oil: I will put my country’s national interest, energy security first: FM Sitharaman

(Representative Image) Prices of petrol and diesel have remained steady for more than 40 days now. Since the end of a four-and-a-half-month-long stop in rate revision on March 22, rates of petrol and diesel have increased by Rs 10 a litre each through 14 revisions. Fuel prices were last hiked on April 6 by 80 paise a litre each. According to a price notification from fuel retailers, petrol in Delhi costs Rs 105.41 a litre and diesel Rs 96.67 a litre. In Mumbai, petrol and diesel prices are at Rs 120.51 and Rs 104.77 respectively. In Chennai, petrol costs Rs 110.85 and diesel Rs 100.94 . In Kolkata, petrol is at Rs 115.12 and diesel Rs 99.83. Oil manufacturing companies (OMCs) began to raise retail prices of the fuel from March 22. In March, the hike was Rs 6.40 a litre each and in April the hike was Rs 3.60 a litre each. In May, there has been no change in prices, so far. India meets 80 percent of its oil needs through imports. Retail rates are adjusted according to … [Read more...] about Fuel Prices on May 18: Check out petrol, diesel rates in Mumbai, Delhi and other cities