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Asia
The Hindu BusinessLine

Signature Global awards ₹920 cr contracts to construct housing project in Gurugram

Signature Global is developing a 13.55-acre housing project ‘Sarvam at DXP Estate’ at Sector 37D, Dwarka Expressway, Gurugram. Realty firm Signature Global has awarded contracts worth ₹920 crore to KEC International and NCC Ltd for the construction of its luxury housing project in Gurugram. Signature Global is developing a 13.55-acre housing project 'Sarvam at DXP Estate' at Sector 37D, Dwarka Expressway, Gurugram. Both KEC International Ltd and NCC have been awarded ₹460 crore contracts each, Signature Global said in a statement on Sunday. KEC International will construct 6 residential towers while NCC Ltd will construct 5 residential towers. Together, these 11 towers will comprise 1,798 residential units, with a development area of 5 million sq ft. The construction work is expected to commence by the end of the third quarter of 2026-2027 fiscal. Pradeep Aggarwal, Founder and Chairman, Signature Global, said, "By partnering with experienced and reputed construction companies such as KEC International and NCC, we are laying a strong foundation for delivering a project that reflects the highest standards of engineering, execution and sustainability. Signature Global, one of the leading real estate developers in the country, has so far delivered 19.2 million sq ft of real estate. Signature Global sold properties worth ₹8,250 crore during the 2025-26 fiscal to become the fifth-largest real estate company in terms of sales bookings or pre-sales. For the current fiscal, the company has set a target to clock sales bookings of ₹10,000 crore. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

Signature Global awards ₹920 cr contracts to construct housing project in Gurugram
Asia
The Hindu BusinessLine

PNB to roll out its wealth management product by Dec aimed at boosting non-interest income

PNB has introduced a number of facilities and benefits through the metal card and expects cardholder numbers to touch 1 lakh by the end of the ongoing financial year. | Photo Credit: FRANCIS MASCARENHAS To enhance its non-interest income, Punjab National Bank is planning to roll out wealth management services by December, the bank's managing director and CEO Ashok Chandra said. "The first stage of our wealth management strategy is to ensure that the bank has Customer Relationship Managers (CRMs) in place. Six months ago, we deployed around 1,700 CRMs across 1,700 branches. Their primary KRA (key responsibility area) is to manage and take care of approximately 250 to 300 top customers in each branch," he told PTI in an interview. The public sector lender is now planning to deploy another 1,300 CRMs by end of this month. It would deploy them in another identified 1,300 branches. "That was the first step we undertook. We have also started engaging with consultants for our wealth management initiative. Very shortly, we expect to initiate the RFP process to appoint a partner for wealth management services. "I believe that within the next three to four months, our wealth management offering will also be in place. Going forward, PNB will have a very active engagement in providing wealth management services," he said. Asked about the launch of this offering, he said, "We expect to roll it out by the third quarter." Speaking about its credit card business, Chandra said, the bank working on expanding its business which it is operating as a division headed by a General Manager. "As of March 31, 2025, the bank had only around 6.6 lakh credit card holders. However, we saw significant potential in the credit card business and decided to scale up the business. The first step was to create a comprehensive roadmap supported by a digital stack. It took us around five months to build the digital infrastructure," he said. Once the digital structure was in place in November 2025, the bank started scaling up the business aggressively, he said, adding, PNB also launched a premium, high-net-worth metal credit card called the Luxura Credit Card, which has generated significant traction in the overall credit card market. "By the end of March 2026, we had around 9 lakh credit card holders, and today we are approaching 10 lakh. This year, we expect to cross 15 lakh credit card holders. We are already approaching the 25,000 mark for our high-net-worth Luxura Credit Card. We launched it just four months ago, and we have already reached around 25,000 cardholders," he said. The bank has introduced a number of facilities and benefits through the metal card and expects cardholder numbers to touch 1 lakh by the end of the ongoing financial year.

PNB to roll out its wealth management product by Dec aimed at boosting non-interest income
Europe
BBC Business

Interest rates expected to be held again by Bank of England

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished4 hours agoUK interest rates are expected to be held at 3.75% for a fifth time by Bank of England policymakers. Uncertainty over the the global political and economic outlook, and the impact on prices, means the Bank is likely to continue its cautious approach to rates. Its Monetary Policy Committee (MPC) meets eight times a year, with its decisions heavily influencing how much borrowers are charged for loans and mortgages, as well as the returns available to savers. The benchmark Bank rate is at its lowest level since February 2023, but few analysts predict any short-term changes. The committee of five women and four men will announce their latest interest rate decision at 12:00 BST, with a hold the widespread expectation. The Bank rate is the MPC's primary tool for maintaining the rate of rising prices - inflation - at a target of 2%. The latest official figures show inflation in the UK was 2.6% in the year to June, down slightly on the previous month but still above its 2.3% target. The inflation rate is likely to go up in July, as millions of households in Scotland, England and Wales feel the impact of a 13% rise in domestic energy prices. The increase was the result of the impact of the Iran war on wholesale energy prices. Conflict in the Gulf, and uncertainty over the chances of a lasting truce, hang over the MPC's meeting and decision this month and in the months ahead. Many analysts expect interest rates to be unchanged in the foreseeable future, with the possibility of the next change being a rise. "A new government finding its feet, and the situation in the Middle East becoming increasingly uncertain, mean that a hold on [the] base rate decision would be a welcome dose of stability," said Katie Horne, from savings platform Flagstone.

Interest rates expected to be held again by Bank of England
Europe
The Guardian

Fed holds interest rates steady despite Trump’s renewed calls to lower them

Kevin Warsh, the Fed chair, at a news conference on Wednesday. Photograph: Annabelle Gordon/UPI/ShutterstockView image in fullscreenKevin Warsh, the Fed chair, at a news conference on Wednesday. Photograph: Annabelle Gordon/UPI/ShutterstockUS economyFed holds interest rates steady despite Trump’s renewed calls to lower themRates remain unchanged for fifth time since December as tenuous Iran peace deal pushes energy prices up again The US Federal Reserve held interest rates steady on Wednesday in a divided vote, indicating growing pressure on the central bank to address heightened inflation. The Fed’s federal open market committee voted 9-3 to maintain rates, with three dissenting members indicating a preference to raise the rate by a quarter-percentage point. It was the first time in a decade that three board members shared dissent over a policy decision. Cooler inflation data published earlier this month may have eased expectations for an imminent rate hike, but Kevin Warsh, the new Fed chair, said in a news conference that the committee was less interested in “any one piece of data” and was more focused on overall trends. The tenuous peace deal between the US and Iran has also sent energy prices creeping up again. Warsh has repeated that he wants policy decisions to emerge from a “good family fight” and said on Wednesday he “got one” during his second Fed meeting as chair. “Most of our discussion was on the big questions that matter to the conduct of monetary policy,” Warsh said. “We didn’t hide from them. We weren’t scared of them. There was a lot more interaction between my colleagues, it was a real family fight. My view, which you’ve long heard, is that’s the better way to get policy right.” Just two weeks ago, one of the dissenting bank presidents, Lorie Logan of Dallas, made the case for “modestly higher interest rates”, arguing in public remarks that they would better balance the “outlook and risks” for the Fed’s dual mandate of maximum employment and price stability. “Inflation has been too high, for too long, and does not appear to be on track all the way back to 2%,” she said. “And the inflation risks are to the upside. The labor market, meanwhile, is solid. Without any policy restraint, these conditions are likely to continue until there’s an unanticipated shock.” Logan joined Beth Hammack in Cleveland and Neel Kashkari in Minneapolis in the dissenting minority. The three bank presidents have formed a bloc before, most recently in April when they all disagreed with the committee’s decision to include a forward looking statement, or “easing bias”, in the Fed’s news release. Though Warsh was adamant about delivering price stability in Wednesday’s news conference, it was unclear exactly what tools he planned to use to achieve that goal. While he said that interest rates could be used as “part of that solution”, he added: “I wouldn’t say it’s in isolation.” Warsh has signaled he is ushering in a new era at the central bank, one that emphasizes a reservedness toward forward guidance. At his first meeting in June, he announced five new taskforces – comprising economics professors, business leaders and former central bank governors – that are meant to rethink how the Fed approaches its communications, data, balance sheet policy, inflation framework and the impact of artificial intelligence on its policy judgments. The US-Israel war with Iran, which has endured since the end of February, has pushed energy prices higher for American households and businesses.

Fed holds interest rates steady despite Trump’s renewed calls to lower them
Europe
BBC Business

'No magic wand' to tackle high prices, Fed boss says as US interest rates held

The boss of the Federal Reserve said there is no "magic wand" to ease the cost of living for Americans as it held interest rates steady for the fifth time in a row. Rates were left unchanged, as broadly expected, between 3.5% and 3.75% on Wednesday, but concerns inflation could increase in the coming months due to the ongoing conflict in the Middle East remain. Fed chairman Kevin Warsh repeated his pledge to bring down inflation but admitted it would take time. Prices in the US have been rising at a rate above the Fed's 2% target for more than five years. Policymakers voted 9-3 in favour of keeping interest rates on hold, with the three voting against pushing for a small hike. The decision comes amid growing uncertainty over the impact of the ongoing conflict in the Middle East on global oil prices and prices for consumers. On Wednesday, Brent crude, the global benchmark for oil prices rose by more than 6% to above $89 a barrel. Despite inflation falling to 3.5% in the year to June, the rate prices are rising at remains above the Fed's 2% target. Last month's lower rate of inflation does not mean prices are falling, but that they are rising at a slower rate. Interest rate hikes are a tool used by central banks aiming to slow the pace prices are rising in the shops. By pushing up the cost of borrowing for things such as mortgages, loans and credit cards, central bankers hope consumers will spend less and the rate of price increases will slow. Given the volatile situation in the Middle East, there was some speculation that the Fed may opt to raise rates in advance of future spikes in energy and food costs. Asked why the Fed did not increase rates, newly-appointed chair Warsh said that, while there was "impatience" being felt by households and businesses over high prices, his board had only been in position for eight-and-a-half weeks. "We are on the job, we will deliver, we are focused like a laser on making sure we can do it, but the suggestion we are going to be able to wave with our magic wand is one I want to disabuse you and everyone else of," he told a press conference. The Fed acknowledged that inflation remained "elevated", which it said was in part due to rising energy prices, but said US economic activity was expanding at a "solid pace despite uncertainty caused by the conflict in the Middle East". Warsh said he had wanted to and succeeded in having a "family fight" with his fellow policymakers on the rates decision.

'No magic wand' to tackle high prices, Fed boss says as US interest rates held
North America
CNBC Finance

Hims and Hers shares fall 10% as FTC sues company over data, billing practices

Shares of telehealth company Hims and Hers Health fell sharply Wednesday after the Federal Trade Commission sued the company, alleging it misled consumers about privacy protections, billing practices and subscription cancellations. The FTC, joined by Los Angeles County and Utah, alleged Hims and Hers shared users' sensitive health information with online advertising platforms including Meta Platforms and Snap Inc. through tracking technologies embedded on its website. The agency said the company's practices were inconsistent with promises it made to protect users' health data. The FTC also accused Hims and Hers of charging customers for prescriptions before they have spoken with a healthcare provider. The agency alleges many customers are billed after completing an intake form rather than after a consultation with a medical professional. The regulator further alleges the company made it difficult for users to cancel subscriptions. Hims and Hers denied the allegation in a post on X, saying the lawsuit "disregards substantial evidence" provided during the FTC's nearly three-year investigation into the company and "contorts the law to try to manufacture claims." The company said it is confident in its position and will "vigorously defend" itself. The lawsuit comes as Hims and Hers has emerged as one of the largest telehealth providers in the fast-growing market for weight loss medications. The company offers virtual appointments and prescriptions for treatments including weight loss drugs, erectile dysfunction, hair loss and mental health medications, which are shipped directly to consumers. The investigation by the FTC dates back to October 2023. CNBC has reported on several probes into Hims and Hers' business practices, including its Super Bowl ad and compounded weight loss drugs. In April, the FTC formally communicated the findings of its probe started in 2023 to the company and settlement discussions began. In May, Hims and Hers disclosed a $15 million probable-loss accrual related to the matter, warning the final cost could be materially higher. The company said it made a settlement offer without admitting wrongdoing. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Hims and Hers shares fall 10% as FTC sues company over data, billing practices
North America
CNBC Finance

Audi continues U.S. product push with three-row Q9 SUV

It is the first so-named vehicle for Audi and the latest in a product push aimed at the heart of the American market, where the brand has struggled over the past several quarters. The three-row Q9 and a high-performance SQ9 variant will together be the brand's flagship U.S. model, joining two other SUVs Audi has already unveiled this year — the compact Q3 and midsize Q7 SUVs, which were revealed in March and June, respectively. Filip Brabec, Audi of America senior vice president of product management, said the Q9 was made primarily with the U.S. consumer in mind. The consideration extended to the six and eight-cylinder engines and large cupholders. "If you look at our recent introductions, whether it is the Q3, whether it is this car, it really plays right into the center of what's happening in America," Brabec said at the vehicle reveal in New York on Tuesday. "SUVs keep growing. It's over 80% of the of the premium space, and we have absolute top contenders in each and every part of those segments." The Q9 starts at $89,095 and the SQ9 at $119,395, competing in one of the most profitable, but crowded segments in the U.S. market. "It represents the most lavish luxury car that we have in this space," Brabec said. The vehicle is 209 inches long end to end and 86.8 inches wide when measuring from the outer edges of the sideview mirrors. It's slightly longer than both the Mercedes GLS and the BMW X7 and is large enough to fit adults in the third row. In a press conference before the reveal, Brabec said the Q9 focused on three key areas: performance, space and technology. Both versions have powertrains selected to suit American tastes. The Q9 comes with a 2.9-liter V6 engine with 429 horsepower and a 4.9 second 0-60 mph acceleration time, according to Audi. The sportier SQ9 is powered by a 4.0 liter V8 with 591 horsepower, 590 foot-pounds of torque, and a 3.8 second 0-60 mph time. It also has a number of new features, including "matrix adaptive beam" headlights, which have been available in Europe and elsewhere for roughly a decade but have only recently been allowed in the U.S., according to the company. The lights are made of a cluster of tiny LEDS which can shape headlight beams in ways that reduce or eliminate glare for oncoming drivers, according to Audi. The Q9 also comes with a ChatGPT-powered voice assistant and a driver assist system that offers a hands-free function. It also has the largest moonroof Audi as ever put on a vehicle. "This one's going to have some real decadent features, I would almost say, like power opening doors and crazy interior materials, even by Audi standards," said Karl Brauer, executive analyst for iSeeCars.

Audi continues U.S. product push with three-row Q9 SUV
Asia
The Hindu BusinessLine

Q1 Results Today Live: BEML Q1 loss narrows to ₹27 cr, Eveready profit up 22%, Aditya Birla Fashion Q1 loss widens to ₹249 cr; Delhivery, Akums Drugs Pharma among firms to announce results today

Aditya Birla Fashion and Retail Ltd (ABFRL) on Saturday reported widening of its consolidated net loss to ₹248.73 crore for June quarter FY27. Total expenses of ABFRL, which owns Pantaloons and Style Up brands , along with a host of ethnic brands, were at ₹2,395.45 crore, up 11.5% Battery and flashlight maker Eveready Industries India Ltd on Saturday reported a 22.3 per cent year-on-year increase in its consolidated net profit to ₹36.97 crore in the June quarter of FY27. Eveready Industries reports a 22% profit increase to ₹37 crore and a revenue growth of 9% in Q1 FY27. BEML narrows Q1 loss to ₹27 crore with total income rising to ₹821.19 crore, signaling strong growth potential. Greenpanel Industries Limited on Saturday reported a net profit of ₹122.92 lakh for the quarter ended June 30, 2026, a turnaround from a net loss of ₹3,462.36 lakh in the corresponding quarter of the previous year. Revenue from operations rose to ₹34,981.09 lakh in Q1 FY27, up from ₹32,819.35 lakh in Q1 FY26, reflecting an improvement in business volumes. Total income for the quarter stood at ₹35,241.85 lakh. Total expenses came in at ₹35,028.66 lakh, resulting in a profit before tax of ₹213.19 lakh, compared to a pre-tax loss of ₹4,739.50 lakh a year ago. On a sequential basis, revenue declined from ₹39,892.90 lakh reported in Q4 FY26, though profit before tax improved from ₹105.65 lakh in the previous quarter. Earnings per share for the quarter stood at ₹0.10. The company operates two segments. Medium density fibreboards (MDF) and allied products remained the dominant segment, contributing ₹31,664.02 lakh in revenue, while plywood and allied products contributed ₹3,317.07 lakh. The MDF segment reported a pre-tax segment result of ₹3,630 lakh, while plywood contributed ₹172.46 lakh. In a separate development, the Board approved reclassification requests from eight members of the Promoter Group, including Rajesh Mittal, Karuna Mittal, Sanidhya Mittal, and related entities, who have sought to move to the Public Shareholder category. All eight entities currently hold nil equity shares. Captain Polyplast Limited on Saturday reported standalone revenue from operations of ₹81.16 crore for the quarter ended 30 June 2026, up from ₹69.74 crore in the same quarter last year, a year-on-year increase of nearly 17 per cent. Total income for the quarter stood at ₹81.66 crore against ₹70.22 crore a year ago. Net profit after tax on a standalone basis rose to ₹4.65 crore from ₹4.15 crore in Q1 FY26, a gain of roughly 12 per cent. Basic and diluted earnings per share came in at ₹0.78 for the quarter. Total comprehensive income for the period was ₹4.67 crore.

Q1 Results Today Live: BEML Q1 loss narrows to ₹27 cr, Eveready profit up 22%, Aditya Birla Fashion Q1 loss widens to ₹249 cr; Delhivery, Akums Drugs Pharma among firms to announce results today
Asia
The Hindu BusinessLine

Nifty & Bank Nifty இந்த வாரம் (10 Aug’26 to 14 Aug’26) என்ன ஆகும்? எங்கு செல்லும்?

narrow range-ல trade-ஆனது. Chart பார்க்கும் போது Trend இன்னமும் positive-ஆ உள்ளது. Nifty 50 தனது support-க்கு மேலே தொடர்ந்து நிலைத்து நின்று, மேலும் உயரும் என்று நாம் எதிர்பார்க்கலாம். Nifty இங்கிருந்து முதலில் 24,750–24,850 வரை செல்லலாம். Eventual-ஆ 25,400 வரை செல்வதற்கான வாய்ப்புகள் நிறைய உள்ளன. Nifty-க்கு 24,500-24,400 நல்ல support. Bank nifty-க்கு 57,500 & 57,480 நல்ல supports. இந்த இண்டெக்ஸ் (Index) முதலில் 58,500 வரை மேலே செல்லலாம். அதற்குப் பிறகு 59,000 மற்றும் அதைவிட உயர் நிலைகளுக்கும் செல்வதற்கான வாய்ப்புகள் நிறைய இருக்கின்றன. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Nifty & Bank Nifty இந்த வாரம் (10 Aug’26 to 14 Aug’26) என்ன ஆகும்? எங்கு செல்லும்?