Rajendra Kumar

Cost Inflation Index (CII) for 2024-25 shall be 363. The Ministry of Finance announced the CII, used in the calculation of long term capital gains, on 24th May, 2024. The rate of 363 shall be applicable for the financial year 2024-25. It marks a 4.3% increase over the CII of 2023-24 (348). For assets purchased upto the base year 2001-02, it represents a 3.6X multiple over purchase cost. Official notification attached.

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UAE witnessed another significant #capitalmarket milestone today with the listing of #NMDCEnergy (NPCC), a key subsidiary of NMDC Group, on Abu Dhabi Securities Exchange. Our heartiest congratulations to both NMDC Energy and NMDC Group on such a successful listing debut in Abu Dhabi. We are proud to welcome NMDC Energy as our latest family member, as they add new dynamism to our vibrant #energy industry and thriving #financial landscape. As one of the leading #exchanges in the region, ADX serves as the strategic capital market gateway, offering #issuers vital fund-raising platform and connecting #investors to unique and innovative #investment opportunities in #Abu Dhabi. We remain committed in supporting #ADX listed entities in their continuing journeys and strengthening our infrastructure to augment Abu Dhabi’s #economic diversification #strategy. NMDC Energy is ADX’s 6th offering and 22nd listing this year. We look forward to many more exciting developments in our capital market. #securitiesexchange #IPOs #UAE #investinabudhabi #Stockmarket #nationalpetroleum #tradedstock #Nationbuilding #Abudhabieconomy

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Climate transition finance is essential for achieving net zero carbon emissions by 2050. It provides financial instruments and institutional support for high carbon-emitting sectors. To find out more on how to finance climate transition, visit GITEX Impact 2024. Register now. Visit giteximpact.com for more details. #GITEXImpact #ClimateTech #Sustainability #Innovation #ESG #SustainablePractices #SustainableInnovation #SustainableBusiness #ESGStrategies #SustainabilityTech #SustainableInvestement #Investors #NETZero #SustainableTrends #GreenTech #climatechange #CarbonEmission #GITEXGlobal #ExpandNorthStar #FintechSurge #FutureBlockchainSummit #FutureUrbanismExpo #MarketingMania #RenewableEnergy #ClimateTransition #ClimateFinance

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IMF talks near conclusion with no mini-budget expected; revenue targets to rely on administrative measures. Saudi Arabia links deferred oil facility to Reko Diq, exploring investment stakes. Govt raises 776B rupees via T-bills as market attractive valuations and positive momentum across Autos, E&Ps, Cements, and more. EV policy announcement anticipated, with HUBC-BYD and Sazgar prepping EV launches.   Stay tuned for more insights on PSX and economic trends! #PSX #IMF #HGMarkets #Trading #PSXBrief #PakistanEconomy #CapitalMarkets #EconomicGrowth

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Climate Policy Initiative - India’s Senior Manager, Labanya Prakash Jena, CFA, SCR shed light on blended financing at the Mashreq Sustainability Dialogue. Climate Policy Initiative tracks annual capital flows into climate sectors every year. In 2023, $1.2 trillion was mobilized. However, achieving net zero emissions by 2050 requires $5-7 trillion, surpassing current capital available from public sources. To bridge this gap, attracting substantial private capital is imperative. Blended finance instruments can bridge this gap. This innovative instrument, combining public and private funds, can mitigate risks associated with investment in net-zero technologies and address return expectations of private investors. The favorable risk-return scenario can attract a massive amount of private capital. #climatefinance #netzero #sustainability #blendedfinance

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India’s State Firm HPCL Set to Launch LNG Import Terminal Our neighbours are moving towards sustanable economic growth with long-term policies and vision to facilitate keeping national interest and we Pakistanis Leaders are fighting to protect themselves and bringing amendments in law. What a shame for the nation. Our “Elite Captured” system is celebrating IMF loans and MoUs while the dumb and mute nation is following them. Can someone provide the details of new startups completed under 6 years MoUs?

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Are recent reports about the collapse of the longstanding 'petrodollar' agreement between the U.S. and Saudi Arabia accurate? As per few news articles doing rounds in the social media have indicated key points to be considered : 1) There has never been a formal agreement requiring Saudi Arabia to price its oil exclusively in U.S. dollars. 2) The U.S - Saudi Arabian Joint Commission on Economic Cooperation, established in 1974, aimed at fostering economic collaboration, not mandating oil pricing in dollars. 3) The relationship between the U.S. and Saudi Arabia is built on mutual economic and strategic benefits, especially after the 1973 OPEC oil embargo. 4) Saudi Arabia accepted other currencies, like the British pound, for oil payments even after the 1974 agreement. 5) The petrodollar system evolved naturally, driven by mutual interests, rather than through a formal or secretive pact. 6) Recent talks of Saudi Arabia exploring other currencies like the yuan for oil payments do not pose a significant threat to the dollar's dominance. 7) The dollar's status as the main global reserve currency is more influenced by where countries hold their reserves than the currencies used for oil payments. 8) The strong economic and military ties between the U.S. and Saudi Arabia reinforce the dollar's preference for oil transactions. 9) Despite some diversification by central banks, the U.S. dollar remains the leading global reserve currency. In conclusion, the petrodollar system's foundation and the U.S - Saudi Arabia relationship support the continued dominance of the U.S. dollar in global transactions. It will be really interesting to keep a close watch on this piece of news.

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SYNDICATED LOAN In continuation to last week's concept note on contract financing, this is yet another financial instrument / facility very commonly found in GCC esp in O&G sector. Besides giving the key features, the attached Concept note also highlights the possible role National Bank for Financing Infrastructure & Development (NaBFID) can play in introducing this facility in the Indian context especially large infra projects. NaBFID can be the agent for change in the Indian financial landscape given its wide-ranging mandate.... NaBFID O

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The essence of green finance lies in its comprehensive approach. Beyond monetary support for green projects, it involves issuing green bonds and promoting sustainable practices among stakeholders. #Mashreq #GreenFinance #RiseEveryDay

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#Magadh : Please review and understand #Magadh Sugar & #Energy Limited's #weekly chart layout. The #chart and #data indicates that between 840 and 850, #Magadh Sugar & Energy Limited is a great place to #invest. It has performed remarkably well so far and has a large upside potential. Please see the #weekly chart provided by #Magadh Sugar & Energy Limited. As we can see in the #chart below, the #stock has climbed and is currently #trading above horizontal #resistance after escaping from the 840–850 region. #Magadh Sugar & Energy Limited is #trading at 865 and is in high #demand, according to the #research. The #chart below illustrates this #stock's enormous upside potential, which may see it rise in the anticipated range of 1280–1300. A #Volatility Contraction Pattern (#VCP), which is a situation in which #price volatility reduces before a notable gain, is what #traders and #investors usually search for in order to enable the #stock or #instrument to achieve high #volume and #upside with a rapid increase and #target hit. Please download the FXCareers - Creating Financial Excellence app from the #Google Play Store to get more details about #VCP patterns. We also present a method for high-precision pattern recognition. Regards, Ruchit Thakur Trainer & Analyst FXCareers - Creating Financial Excellence #nifty #banknifty #investment #stock #demand #breakout #VCP #gold #silver #xauusd #xagusd #crude #brent #usoil #dollar #dxy

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"Make Hay While the Sun Shines!" Pakistan’s economy is on the path to recovery, with promising indicators pushing it towards a boom cycle in the medium to long term. With a potential 150-250 bps rate cut expected in the MPC meeting on November 4, 2024, here’s what’s in store: - Banks with excess liquidity will face the challenge of shifting focus from government lending to private sector financing. - Government gains fiscal space to invest in development projects with reduced debt financing costs. - Businesses will enjoy better cash flows and find it easier to secure financing, as banks compete to support their business growth. - Investors will find high-dividend stocks increasingly attractive compared to bank deposits and money market funds. - PSX may reach new heights — with the 120k index in sight, shares remain attractively valued at a low 4x multiple, one of the lowest in emerging markets. A promising outlook ahead! 📈🌞 #MPC #PakistanEconomy #PSX

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COP29: IEEFA Calls for Banks to Boost Renewable Energy Funding Amid $400 Billion Annual Shortfall At COP29, the Institute for Energy Economics and Financial Analysis emphasized the urgent need for global financing shifts toward renewable energy to bridge a $400 billion annual investment gap required to meet 2030 climate targets. Although renewable investments rose from $329-424 billion in 2019 to $570-735 billion in 2023, they fall short of the necessary $1-1.5 trillion per year. IEEFA advocates for policies that incentivize banks to prioritize renewables over fossil fuels, which still received $967 billion in 2022, compared to $708 billion for renewables. Key recommendations includes: - Credit enhancements - Mandatory emissions disclosures - Partial credit risk guarantees to encourage bank support for clean energy. The organization also urges central banks to use moral suasion to shift commercial lending from thermal power to renewables, underscoring the importance of international cooperation and local policy support to achieve climate goals. What are your thoughts on this? Do mention in the comment section below! #choice #NBFC #Banking

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S&P upgrades Oman’s credit rating to ‘BBB-’ MUSCAT: Standard and Poor’s (S and P) has upgraded Oman’s sovereign credit rating from “BB+” to “BBB-”, marking a significant return to investment-grade status after nearly seven years of being rated below investment grade. The upgrade reflects Oman’s improving financial outlook and its success in addressing the economic challenges brought on by the global oil price decline and the Covid-19 pandemic. The new “BBB-” rating places Oman back in the lowest tier of the investment-grade category, signalling a safer environment for investors. Read more: https://lnkd.in/d934ueNV Ministry Of Economy Oman Standard & Poors Ratings Services Oman Vision 2040 رؤية عُمان Ministry of Energy and Minerals Ministry of Finance - Oman #InvestmentGrade #SP #Credit #Rating #Investments #Oman #OmanBiz

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No Kuwaiti Electricity Shortage Remedies WITHOUT Tariff and Subsidy Reform Today’s press reports have underscored the pressing issue of electricity shortages in Kuwait, leading to potential power cuts due to generation deficits. The urgency to expedite energy projects has been highlighted, with a call for serious reconsideration of ownership structures, suggesting a shift from ministry control to international operators utilizing the Build, Own, and Operate (BOO) model, selling electricity to the government. But what about consumption waste because of absurdly low tariffs? World Bank data reveals Kuwait's per capita electricity consumption in 2020 was 14,919 kWh, four times the global average and 50% higher than the GCC average, despite similar air-conditioning usage. The average US electricity rate is 10 cents per KW, while in Europe, rates are triple that of the US. Across the GCC, excluding Kuwait, rates range from 6 to 8 cents. However, in Kuwait, the government's cost of electricity is 10 cents per kilowatt-hour (kWh), but it charges Kuwaiti households a mere 0.4 cents, rising to 3 cents for expats and 5 cents for businesses. This significant subsidy of approximately KD 3 billion constitutes over 6% of GDP and 50% of Kuwait's eye-popping total subsidy bill of KD 6 billion. It's imperative to phase out these subsidies gradually, aligning rates with GCC rates and conserve energy. Alternative Energy and Efficiency are Vital Components for Progress as Well: The government aims to transition to solar and gas-powered generation, potentially freeing 250,000 barrels of oil per day for petrochemical use. Despite successful renewable energy pilot projects by Kuwait Institute for Scientific Research (KISR) in the 1970s, progress has been sluggish, with minimal advancements in renewable energy projects since. Implementation of other energy conservation measures is also vital, including pavement cooling, building insulation, and efficiency upgrades in industrial processes. With the increasing focus on environmental, social, and governance (ESG) criteria, this critical issue remains largely unaddressed. It's time for action. In the midst of irresponsible populist shouts, reason is greatly missed.

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Worldwide, microfinance programs tend to have significantly higher interest rates compared to commercial banks. For instance, Grameen Bank’s interest rate is around 20%, while BRAC’s is most probably 25%. Some international microfinance programs even charge higher rates. One of the primary reasons behind these higher rates is the higher risk and operating expenses involved. However, it’s worth noting that the recovery rate in conventional microfinance is not necessarily poor. On the other hand, there are examples of Islamic microfinance (interest-free, often based on Qard Hasan, Mudaraba, or Musharaka). A standout case is Pakistan's Akhuwat Foundation. According to recent reports, their recovery rate is 99.91% and typically remains above 99.90%. In Bangladesh, Islami Bank Bangladesh's "Rural Development Scheme (RDS)" has a recovery rate of 98%. Both of these initiatives have substantial outreach. RDS-IBBL is serving over 1.5 million members, while as of September, Akhuwat had nearly 600,000 active loans.

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IIFM and Dar Al Sharia (DAS) are pleased to announce: IIFM Standards Master Class on Hedging and Liquidity Management. The three day workshop will be held from 21st October to 23rd October 2024 in Dubai, United Arab Emirates and will cover the following IIFM Standards:   Islamic Hedging Standards: IIFM Standard - 2: ISDA/IIFM Tahawwut (Hedging) Master Agreement IIFM Standard - 3: ISDA/IIFM Mubadalatul Arbaah (Islamic Profit Rate Swap) - Single Sale IIFM Standard - 4: ISDA/IIFM Mubadalatul Arbaah (Islamic Profit Rate Swap) - Two Sale IIFM Standard - 7: ISDA/IIFM Himaayah Min Taqallub As'aar Assarf (Islamic Cross Currency Swaps) - First Leg and Second Leg IIFM Standard - 8: ISDA/IIFM Wiqayah Min Taqallub As'aar Assarf (Islamic Foreign Exchange Forward) - Single Binding Wa'ad IIFM Standard - 9: ISDA/IIFM Wiqayah Min Taqallub As'aar Assarf (Islamic Foreign Exchange Forward) - Two Unilateral Wa'ad IIFM Standard - 10: ISDA/IIFM Islamic Credit Support Deed for Cash Collateral (Variation Margin) IIFM Standard - 16: ISDA/IIFM IBOR Fallback Definitions Booklet and Bilateral Amendment Agreement   Islamic Liquidity Management Standards: IIFM Standard - 1: Master Agreements for Treasury Placement (MATP) IIFM Standard - 5: Inter-Bank Unrestricted Master Investment Wakalah Agreement (UMWA) IIFM Standard - 6: Master Collateralized Murabahah Agreement (MCMA)   Learning Outcome: Upon completion, the Participant will be able to: - Develop understanding of the underlying Shari’ah structures for Hedging and Liquidity Management - Know the required documentation and execution process for Shari’ah-compliant alternatives - Know the IIFM Standards on Hedging and Liquidity Management including its application and adoption in day to day requirements   Master Class will be led by following industry experts and leaders will also conduct sessions during the 3 day course:   Ammar Ahmed, CEO, Dar Al Sharia Ijlal Alvi, CEO, IIFM Muhammad Nazir Mian, Head of Internal Sharia Control Division, Dubai Islamic Bank PJSC Habib Motani, Leading Islamic Finance Lawyer and Consultant, Clifford Chance LLP Dr. Mohammad Yahya Mujaddidi, Sharia Supervisory Board Member - Dar Al Sharia   The workshop brochure is attached for your kind information. Please fill the registration form and submit it to [email protected]   In order to keep the workshop focused and interactive, the course is limited to 20 participants. Hence, we encourage you to kindly register your interest with Dar Al Sharia as registration is on first come basis. #islamicfinance #sukuk #hedging #islamicbanking #islamiceducation #islamicstudies #islamicfintech #islamicfinance #Shariah #islamicriskmanagement #takaful #sukuk #waqf #islamicfinance #islamicbanking

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One of the very critical aspects of any working capital finance / setting credit limits with banks in UAE , is discounting of Bills/Invoices/ Cheques/ Letter of Credit ( LC) . I have briefly touched this in my earlier article on "Various Dimensions of Fund Raising through Banks in UAE for a CFO "- link below : https://lnkd.in/d2jpruur On the face of it, these Financial products appear similar , which banks offer- Essentially , These cover: A) Bank financing / discounting against the Invoice / Bill raised by you as the seller , cheques issued in favour of the corporate by the customers - Bank expects on due dates of the same, the customer honours these instruments and the bank gets paid . This is easier said than done, and certainly a task when it comes to businesses which are project driven--Contracting, Real estate, Construction Verticals , where the due date of the payment is subject to many factors. Of course, in Trading , Retail , Distribution and Manufacturing Verticals , it is relatively easier if the scope is pure supplies , and does not involve installation . ➡️ Here is the catch- Banks will invariably fall back upon the seller in whose favour the discounting proceeds got credited , unless they have a recourse to the customer. B) LC ( Letter of credit ) deals between banks- LC discounting can be done by the LC negotiating bank ( LC beneficiary bank ) once the LC documents are accepted by the LC opening bank and due date to pay is established. ➡️ Here is the catch- 1) LC negotiating bank will invariably fall back upon the LC beneficiary in whose favour the discounting proceeds got credited , unless they have a recourse to the LC opening bank . 2) LC negotiating bank , may not fall back upon the LC beneficiary if the LC is a confirmed LC , and the confirmation is added to the LC by the negotiating bank . LC confirmation comes at a price , and basically is a financial risk which the LC negotiating bank is taking on LC opening bank and the allied country risk. C) Non Bank driven discounting i.e Factoring - Factoring companies essentially do the same what banks do , albeit , with and without recourse to the seller , including reverse factoring, which is initiated at the behest of the customer. ➡️ Here is the catch: To end an arrangement with a factor, you will have to pay off any money they have advanced you on invoices if the customer has not paid them yet. This may require some cash flow planning. Happy to have other modes of discounting available in UAE as an instrument in working capital finance ? #Bill/ #Invoice / #Cheque Discounting #LC Discounting #Factoring #Working capital

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