Sun.Aug 20, 2023

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For some, this week’s 30-year TIPS reopening will be a ‘unique’ opportunity

Tips Watch

By David Enna, Tipswatch.com One of the year’s most interesting TIPS auctions is coming Thursday, the reopening of CUSIP 912810TP3, creating a 29-year, 6-month Treasury Inflation-Protected Security.

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A non-techie’s 10-minute guide to Using GenAI

Future CFO

Think of services like ChatGPT as an infinitely helpful, eager-to-please intern that also happens to lie from time to time. Here are some concrete business examples to help you get started with GenAI right now. The post A non-techie’s 10-minute guide to Using GenAI appeared first on FutureCFO.

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Jio Financial listing: Ambanis to hand over $20 billion beast to RIL shareholders today

CFO News

On both BSE and NSE, the stock with the symbol of JIOFIN will trade in the T Group segment for the first 10 days. The upper and lower circuit limit would be restricted to 5% which will restrict any major movement in the debutant.

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What aspiring female finance leaders need to do

Future CFO

Editor’s note: Lucia Real-Martin (pictured), Executive Director, Relationships at ACCA shed light on the challenges facing female finance professionals and how aspiring female finance leaders could make progress along their career journeys. This interview is part of FutureCFO's Female Leadership in Finance Series. Lucia Real-Martin is the Executive Director, Relationships, ACCA FutureCFO: What’s your role at ACCA?

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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FMCG in June qtr: Volume & margins grow as inflation moderates, small players make comeback

CFO News

Most of the listed FMCG entities reported volume-based growth in home care, personal care, beauty and foods products business, except the ice cream and beverages portfolio which was impacted by unseasonal rains in April and early May during the quarter.

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Corporate NPA addition slows, loan recoveries may have peaked

CFO News

Recoveries for all large banks were lower than a year ago and down from what they were in March. For example, State Bank of India’s (SBI) recoveries and upgrades were at Rs 3,607 crore in June 2023 down from Rs 5,208 crore a year ago and Rs 4,200 crore reported in March 2023. The trend is the same for Punjab National Bank (PNB), Bank of Baroda (BoB), ICICI Bank, HDFC Bank and Axis Bank.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • The Ghost Fleet Helping Russia Evade Sanctions and Pursue Its War in Ukraine : Turkish companies have bought dozens of tankers that ship Russian oil. ( Wall Street Journal ) • SPACs – The Implosion Continues. And… Where’s the SEC? It reached the point that there were more companies than acquisition targets.

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Hardware firms chary of govt definition of ‘trusted sources’

CFO News

Industry executives say that while the government has been successful in restricting Chinese players Huawei and ZTE from participating in India’s 5G rollout after adoption of the “trusted sources” approach, replicating the same for IT hardware won’t be feasible. That’s because unlike telecom equipment, laptops/tablets are consumer devices.

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Companies to power up production capacity for festive season by 20 per cent

CFO News

Maruti Suzuki, Hyundai, Tata, Toyota, Mahindra & Mahindra (M&M) and others have already started running plants at full capacity, a month earlier than usual, expecting to clock record festive sales on the back of easing of supplies, executives said. In electronics, brands and contract manufacturers said festive season production will hit peak capacity by early September.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Adani Group companies' net profit surges 70%

CFO News

Strong operational performance helped boost the group's net profit, although overall sales saw a decline during the quarter. The comparative performance excludes the group's cement entities acquired after the first quarter of FY23.

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Adani to invest Rs 2,000 cr to build 2 transmission lines in Mumbai for green energy transition

CFO News

A senior official from Adani Electricity Mumbai revealed on Sunday that the company is investing over Rs 2,000 crore to build two new transmission lines in the city. This is part of their efforts to strengthen their network as the company moves closer to going more green by sourcing as much as 60 percent of the energy needed for the city from renewables by 2027.

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China cuts key interest rate to support economy

CFO News

Closely followed by the markets, the two rates are now at historic lows, after previous reductions in June. The decision is intended to encourage commercial banks to grant more loans and at more advantageous rates. Monday's measures -- which run counter to rising interest rates around the world as other major economies work to curb inflation -- will indirectly support economic activity as China's growth flags.

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16th Finance Commission expected to be set up by end of November, says Finance Secy Somanathan

CFO News

The 16th Finance Commission, a constitutional body that makes suggestions on Centre-state financial relations, is expected to be constituted by the Indian government by the end of November. The commission is responsible for recommending the ratio in which tax is to be divided between the Centre and states for five years starting April 1, 2026.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Dalmia Group submits revised debt resolution plan for Birla Tyres

CFO News

A person familiar with the new plan told ET that group companies of Dalmia Bharat have offered to repay about ₹300 crore of the outstanding loans of Birla Tyres. This is said to be three times their original offer to creditors. Birla Tyres competes in the commercial vehicle and two-wheeler tyres segments.

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EPFO adds 17.89 lakh net members in June 2023, highest in the last 11 months

CFO News

Gender-wise analysis of payroll data represents that out of the total 10.14 lakh new members added during the month, around 2.81 lakh are new female members, joining EPFO for the first time. The percentage of new female members joining the organized workforce has been highest in the last 11 months.

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GST reward scheme on anvil; customers can soon upload invoice, participate in lucky draw

CFO News

Individuals may soon get rewarded for uploading GST invoice on a mobile app as the government is likely to launch the long awaited 'Mera Bill Mera Adhikar' scheme soon. Under the invoice incentivisation scheme, cash prize of Rs 10 lakh to Rs 1 crore monthly/quarterly could be given to individuals who upload invoice received from retailer or wholesaler on the app, two officials told PTI.

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Three Indian family offices pick up Rs 435 crore SoftBank stake in IPO-bound FirstCry

CFO News

Ranjan Pai: SoftBank, which held 29% in the company, is believed to have diluted its stake by about 1.5-2% as part of the secondary share sale.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Jio Financial Services shares fall nearly 5 pc in debut trade

CFO News

Shares of the company listed at Rs 262 on the NSE but later declined 4.94 per cent to Rs 248.90 -- its lower circuit limit.

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Custodians pitch ownership factor for FPI disclosures

CFO News

According to the recommendations of a consultation paper, which are soon expected to be transformed into regulations by the Securities and Exchange Board of India (Sebi), a foreign portfolio investor (FPI) which deploys 50% or more of its money in the stocks of a single corporate group will have to reveal the ultimate beneficial owners (UBOs) - down to the last natural persons - behind every investor in the fund pool.