Pakistan said that the Asian Development Bank (ADB) plans to invest USD 2 billion in the energy sector in the country during the next three years.The announcement was made after an ADB team headed by Director General for Central and West Asia Department Werner Liepach met with Power Minister Omar Ayub Khan and Special Assistant to the Prime Minister on Petroleum Nadeem Babar here.The ADB's Country Director Pakistan, Xiaohong Yang, was also present during the meeting.Close "ADB remains top energy sector partner with USD 2.1 Billion portfolio with USD 300 million released this week for sector reform including addressing the circular debt," according to an official statement by Pakistan. related news BoJ deputy governor warns of risks, signals easy policy bias Fed keeps rates on hold, points to 'favorable' economic outlook next year Huawei wins contract to develop German 5G network It said that the meeting took stock of ADB funded projects in the energy sector and it was … [Read more...] about ADB to invest $2 billion in energy sector over next three years: Pakistan
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India's mutual fund space witnessed an interesting dichotomy in November.Net inflows into equity mutual funds (MFs), including closed-ended schemes, stood at a mere Rs 933 crore against Rs 6,015 crore in the previous month, latest data released by the Association of Mutual Funds in India (AMFI) shows.On the other hand, investment in equity funds through systematic investment plans (SIPs) saw a strong momentum at Rs 8,273 crore.Close The fall in equity MFs net inflow is primarily due to redemptions in value funds, multi-cap funds and sectoral funds. related news Market Headstart: Nifty likely to open higher on Fed status quo; Ujjivan Small Finance Bank eyed Bharat Bond ETF can help low-risk investors diversify with 10-20% allocation This multiplex stock jumped 47% in 2019 despite slump in consumer spending Overall, the mutual fund industry saw its total asset under management (AUM) hitting Rs 27 lakh crore as of November from Rs 23.59 lakh crore a year ago. That represents a … [Read more...] about Equity inflows drop but SIP figures at all-time high; what should you do?
Khyati DharamsiZareena Mistry, a 34-year-old Mumbai-based lawyer and her group of six friends were on their way to their hotel in Paris for a two-day halt before returning to India. That’s when Zareena realised that she had forgotten her bag at the airport.Back at the airport, the missing bag had caused the authorities to panic. Paris was on red-alert at that time; the security personnel assumed that it was a threat. They just blew apart the bag. They didn’t even open it.Close Her woes didn’t end there. related news Insurers can invest in debt ETFs subject to some conditions, says IRDAI Climate change impact: Rising sea levels may impact property prices in coastal areas Life insurers April-November new premiums jump 37.2%; LIC holds the reins She had to spend around 300 Euros (Rs 24,000) the next day in Paris shopping for a new suitcase and clothes. Items and clothes worth Rs 20,000 were in the suitcase that was blown apart. Her total loss: around Rs … [Read more...] about Your travel insurance may not cover many losses while on tour
The Nifty is expected to open higher with a gap on December 12 following Asian markets, which were trading positive after the Federal Reserve signalled that rates were likely to remain accommodative.The Fed kept interest rates unchanged, as expected, at its policy meeting on December 11 but indicated interest rates would remain on hold, which nudged Wall Street stocks higher, reports Reuters.Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 45.5 points gain. Nifty futures were trading around 11,994 levels on the Singaporean Exchange.Close The Sensex rose 172 points to 40,412 and the Nifty closed with gains of 53 points at 11,910 on December 11. related news Market Live: Nifty above 11,950, Sensex up 150 pts; Yes Bank top gainer Early on D-Street | Bullish momentum to strengthen if Nifty manages to hold 11,832 What changed for the market while you were sleeping? Top 10 things to know The rupee appreciated seven paise to settle at a … [Read more...] about Market Headstart: Nifty likely to open higher on Fed status quo; Ujjivan Small Finance Bank eyed
Ujjivan Small Finance Bank, the subsidiary of microfinance lender Ujjivan Financial Services started its first trade at Rs 58 on the Bombay Stock Exchange on December 12.The stock listed with a premium of 56.75 percent over the issue price of Rs 37 per share.The premium was warranted considering the tremendous response to the Rs 750-crore public issue and improvement in earnings along with asset quality in April-September 2019 against previous years, experts feel.Close "Premium listing was justified as the issue was well priced with attractive valuation when compared to other listed small bank peers which are trading higher price-to-book value, leaving something on table to the IPO investors. Better asset quality and experienced management with pan-India presence provided comforts to investors at the time of subscription," Prashanth Tapse, AVP Research at Mehta Equities told Moneycontrol. related news Ujjivan Small Finance Bank IPO: Analysts expect 50% listing premium … [Read more...] about Robust listing: Ujjivan Small Finance Bank debuts with 56% premium at Rs 58