CFO News
MAY 21, 2023
In March 2023, ED initiated a probe against BBC India for FDI cap breach under the Foreign Exchange Management Act (FEMA). This article by Makarand Joshi, Founding Partner, MMJC and Associates LLP delves into the the question can ministry clarifications via circulars override regulations?
CFO Thought Leader
MAY 21, 2023
While chief accountant for the SEC’s investment management division, Alison Staloch reports, she found herself being greeted by a degree of inclusive enthusiasm that she had seldom encountered before. “People would say, ‘Great, the accountants are here!,’” recalls Staloch, who tells us that accountants at divisional meetings were sometimes sparse in comparison to the number of agency attorneys seated at the table.
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CFO News
MAY 21, 2023
The adjudicating officer imposed a penalty of ₹75,000 each on Gautam Adani, chairman and director Adani Power, Rajesh Shantilal Adani, managing director, and Vineet S Jain, whole-time director.
Future CFO
MAY 21, 2023
Global top 100 firms have seen their largest market capitalisation drop by 11% in 2023, equivalent to almost US$3.8 trillion, said PwC recently. This drop represents the first yearly decline since 2016 and the greatest drop since the global financial crisis of 2009 (-39%), according to new PwC analysis titled the Global Top 100 Companies report. Report highlights A challenging macroeconomic environment caused by ongoing tightening of fiscal policy, high inflation, and uncertainty surrounding the
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CFO News
MAY 21, 2023
Hemanth Reddy got relieved of his duties for Balaji Amines on May 20, 2023.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
CFO News
MAY 21, 2023
Sandeep Batra's expectations of an improved margin come in the background of lower consolidated margin in H1 last year due to higher input costs.
Barry Ritholtz
MAY 21, 2023
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • The War on Poverty Is Over. Rich People Won. The sociologist Matthew Desmond believes that being poor is different in the U.S. than in other rich countries. How is poverty different in America than in its peer countries? Matthew Desmond: We have more of it. We have double the child-poverty rate of Germany and South Korea.
CFO News
MAY 21, 2023
Several large global structured credit and special situations funds are among potential bidders for the distressed airline. However, it is unlikely there will be many bidders for the airline, so all efforts are being made to bring in a good strategic investor through the National Company Law Tribunal route.
CFO News
MAY 21, 2023
Travel agents, who are likely owed more than ₹500 crore by Go First Airlines, aren't willing to sell its tickets despite verbal requests from the airline, which has filed for bankruptcy protection. "The airline executives have told us it is trying its best to start operations from May 27. But at this point, we have no clue how Go will resume and sustain them," said a person in the know.
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CFO News
MAY 21, 2023
The removal of India's ₹2,000 banknotes from circulation is expected to increase liquidity in the nation's banking system and result in a decline in borrowing rates for government and corporate entities. The Reserve Bank of India said there is around INR3.62tn ($49bn) worth of the banknotes in circulation as of the end of next March.
CFO News
MAY 21, 2023
While it appears that Russia and China have overcome the fallouts of Sino-Soviet conflict, the reality presents a different picture as Moscow continues to safeguard its strategic partnership with both New Delhi and Hanoi.
CFO News
MAY 21, 2023
The steelmaker, which is also looking to expand production capacity, will meet its capital expenditure requirements from internal accruals, joint managing director Jayant Acharya said.
CFO News
MAY 21, 2023
"Farmers and businesses will benefit from this park, which is a result of the double-engine government in the state. Investment of around ₹6,850 crore is expected in this park," Goyal said while launching the park in Dhar on Sunday when the state and Centre signed a memorandum of understanding (MoU).
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
CFO News
MAY 21, 2023
Morgan Stanley co-presidents Ted Pick and Andy Saperstein, and head of investment management Dan Simkowitz, are the front-runners to succeed James Gorman, who said on Friday he plans to step down as chief executive within a year.
CFO News
MAY 21, 2023
The group has already identified some such assets and is in the process of adding more to the list, the people said. These will be sold based on the need for funds to invest in the new real estate projects it is taking up, they said.
CFO News
MAY 21, 2023
"It has been decided that the facility of exchange of Rs.2000/- denomination Bank Notes to all members of the public upto a limit of Rs.20000/- at a time will be allowed without obtaining any requisition slip as per the format attached in Annexure- III," a circular from the state lender said.
CFO News
MAY 21, 2023
The company plans to reduce debt by selling completed inventory backed by the necessary occupancy certificate (OC) from its residential projects.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
CFO News
MAY 21, 2023
Leading electric two-wheeler players are understood to be rejigging their products by launching lower-spec variants by reducing features and size of batteries, following the tapering down of subsidies, which will increase prices of their EV products this June onwards.
CFO News
MAY 21, 2023
The Reserve Bank of India (RBI) is expected to maintain its pause on monetary tightening through FY24, despite markets anticipating rate cuts. Soft inflation, real policy rates above 1%, easing external balance pressures and global monetary tightening at its peak have signaled a dovish turn by the RBI MPC, but concerns over monsoon and oil prices and resilient growth could cause further pause.
CFO News
MAY 21, 2023
Investors laud clarity on tax incidence, say it stops arbitrary application
CFO News
MAY 21, 2023
The auditors issuing an unqualified opinion on PFS’ accounts assume importance as the company is in the middle of a probe by the market regulator over the allegations relating to fraud and misgovernance raised by its former independent directors.
Speaker: Mark Gilham, FCCA, CPP
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
CFO News
MAY 21, 2023
The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.
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