Mumbai: The capital markets regulator’s plan to introduce a dual stock trade settlement system could create a peculiar situation rarely seen elsewhere in the world. According to brokers, one stock could see two prices depending on the timeframe opted by the market participant for settlement.
The Securities and Exchange Board of India (Sebi) has embarked on an ambitious plan to introduce a same-day settlement system, popularly known as T+0, for stock trades. This means stocks and funds will change hands on the same day, making the settlement process shorter. Currently, India follows the T+1 system, settlement happens by the next day of the trade. This was implemented in January. Brokers said Sebi wants both systems to co-exist as same-day trade settlement could face resistance from institutional investors – mainly foreign.
The parallel settlement systems will, however, lead to price variations in stocks. For instance, a stock getting settled on the same day of the trade could trade at lower prices compared to it getting settled the next day as early payments must factor in the higher cost of funds for the buyer, who must cough up money on the same day to settle the trade. This could result in some quick money-making opportunities for traders looking to benefit from price differentials.
“The introduction of two sets of settlement windows could generate distinctive arbitrage opportunities, where the same-day settlement price of a stock is expected to be slightly lower, accounting for the interest associated with early payment,” said Vijay Bhushan, former president of the Association Of National Exchanges Members Of India (ANMI). “Additionally, higher impact costs are anticipated in instances of low liquidity in one of the settlement windows.”
Currently, traders are not permitted to buy and sell the same stock on different exchanges on the same day. They are allowed to sell across exchanges only if they hold the stock in their demat accounts.
Last week, Sebi chairperson Madhabi Puri Buch indicated the introduction of same-day settlement could happen by March 2024. The regulator is yet to detail its plans.
The gym can be a scary place if you’ve never stepped inside one, and it can be the most rewarding place once you get into a routine that supports your goals and schedule. Here are five tips to help you walk into the gym feeling confident and ready to tackle your 2024 fitness resolutions.
Have a plan: Determine what days and times you have available to spend 30 to 60 minutes at the gym. Set your clothes out the night before so you aren’t rushed when it’s time to work out. It’s easy to talk yourself out of doing something uncomfortable when you don’t have a plan in place.
Start with familiar exercises: This could be walking on a treadmill or jumping rope or doing dumbbell curls. Using exercises that you’ve done before is a great way to get going at the gym and make progress.
Focus on yourself: Your body, your muscles, your breathing. It’s easy to think people are looking at you when you don’t feel confident, but most gym goers are also focused on themselves and completing their workouts. Most members are helpful, too, and happy to answer any questions you have. We were all beginners once! A good pair of headphones and a great playlist can help, too.
Find a friend: Having a companion at the gym can motivate you to get to the gym and help you feel more at ease as you learn the layout, the machines, the classes, and other amenities available to you. When you have someone to work out with, you’ll have a motivator, accountability partner, and friend all rolled into one!
Start small: Of all the tips, this is the most important. Think of every trip to the gym as a deposit in your savings account, it adds up over time. Remember fitness is a journey, not a destination, and every step taken in the right direction will pay off over time.
Anxiety about going to the gym is common and eases the more times you visit. You’ll start to see familiar faces, become familiar with the equipment and classes, and feel confident as you become strong. Be patient and celebrate small victories along the way!
If you’re still having trouble getting to the gym or feeling nervous, set up time with one of VASA’s friendly and approachable Personal Trainers who can help create a plan with you so you can reach your goals and enjoy your time in the gym.
Tunnelling expert Arnold Dix, who led the rescue operations in Uttarkashi, is being hailed for his efforts, with some saying on social media that he is the only Australian who has given Indians a piece of good news. Indians were very disappointed earlier this month after Australia defeated India in the World Cup 2023 final.
Arnold Dix, an international tunnel expert from Australia, was roped in by India for the safe evacuation of 41 workers who were trapped after a portion of the Silkyara tunnel collapsed in Uttarkashi. Micro tunnelling expert Chris Cooper was also brought in to held evacuate the stranded workers. After 17 days of tireless efforts, the rescue teams managed to pull out all the trapped workers on Tuesday evening.
“Salute to Arnold Dix, the tunnel expert who made it possible to rescue the miners. Thank you,” said Sagar, a social media user. “He is the only Australian who gave us good news this November.”
Salute to Arnold Dix, the tunnel expert who made it possible to rescue the miners. Thank you 🙏
However, some also pointed to efforts by Indian agencies and rescue personnel who worked day and night to evacuate the workers. A social media user said that a few days ago the tunneling expert was telling that rescue may be completed by Christmas. “It is after these fellows came, the rat miners, things changed. No credit taken from Dix though,” the social media user said.
A few days ago he was telling that it would be Christmas. It is after these fellows came,the rat miners , things changed. No credit taken from Dix though. pic.twitter.com/pB5GhOu5e5
The rescue operations were nearing completion a few days ago but an auger machine used for making a horizontal drill got stuck after its blade came off just meters before the targeted area. After the auger machine did not succeed, ‘rat-hole miners’ were called in to complete the drill manually to reach the trapped workers.
Rat-hole mining is a primitive method of coal extraction practiced in India, particularly in Meghalaya. This technique involves digging small, vertical shafts into the earth, often only wide enough for a single miner to descend. India Today reported that 12 rat-hole mining experts worked on the horizontal excavation through the remaining stretch.
After initial obstacles, the Centre decided to work on multiple options – such as horizontal drilling, verticle drilling, and perpendicular-horizontal drilling – to reach the workers. Besides NDRF, the other agencies that were involved in the operations were Satluj Jal Vidyut Nigam (SJVN), Rail Vikas Nigam Limited (RVNL), Oil and Natural Gas Corporation (ONGC), and Tehri Hydro Development Corporation Limited (THDCL). The Border Roads Organisation (BRO) constructed an approach road for vertical drilling by SJVNL and RVNL.
Priya Adivarekar, a digital creator, said that saluted the rescue teams. “Massive respect for @Arnolddix and the entire team! They worked non-stop, tirelessly, in order to rescue the workers who were stuck. By god’s grace, the mission was successful!”
This is a BIG DAY. Finally, after 17 days, all the workers have been rescued. Watching some videos of rescue mission, seeing the workers walk out with a smile and relief, makes my heart so happy.
Earlier in the day, Mahindra Group Chairman Anand Mahindra lauded the Australian tunneling expert, who in an interview said that for him, it was like an epic in which the mountain was controlling everything. “The art of communication is essentially the art of storytelling,” said Mahindra while sharing the video of Dix. “Our ancient culture has its roots in storytelling. But we need to revive & refine those skills. In the meantime, here’s an Australian giving us a master class.”
The art of communication is essentially the art of storytelling. Our ancient culture has its roots in storytelling. But we need to revive & refine those skills. In the meantime, here’s an Australian giving us a master class…👏🏽👏🏽👏🏽 pic.twitter.com/QP4huuS78u
Bonus Share 2023: Integra Essentia Ltd’s board of directors has approved the issuance of bonus shares to its investors. The company has informed that decision through an exchange filing. According to the filing, the board has approved the bonus issuance in the ratio of 1:1. This means, eligible shareholders will be awarded one bonus share for each share held by them.
“Issuance of Bonus issue of equity shares in the ratio of 1:1 i.e. 01 (One) equity share of Re 1 each for every 1 (One) equity shares of Re 1 each held by the eligible shareholders of the company as on record date,” the exchange filing reads.
However, this is subject to shareholders and other statutory approvals. Also, the company has informed the exchange that it will fix and inform the record date in the coming days.
“Record Date to determine the eligible shareholders shall be decided and will be intimated to exchange separately,” the company said.
Also, Integra Essentia has approved to raise Rs 100 crore by way of a Preferential Allotment, QIP’s, ADR, GDR, FCCB or any other methods.
“to accelerate the growth further, issuance and allotment of securities to raise funds for an aggregate amount of up to Rs. 100 Crore (Rupees One Hundred Crore), by way of a Preferential Allotment, QIP’s, ADR, GDR, FCCB or any other method or combination thereof including series of Right Issue(s), each tranche not exceeding Rs. 50 Crore (Rs. Fifty Crores Only), on such terms (to be decided by the Board or a duly constituted committee of the Board at a later date),” it added.
Israel has now received 58 hostages from Hamas over the past three days including 18 foreign workers.
In the third round of the Israel-Hamas prisoner hostage exchange, the Gaza terror group has released 14 more Israeli hostages and three more foreign workers. The IDF has confirmed receiving the latest batch of hostages, which comprises nine children and four women as well as the four foreign workers.
Unlike yesterday today’s exchange proceeded smoothly. One of the Israelis released today has Russian citizenship and was released at the request to Hamas of Russian President Vladimir Putin. He was working at the Nova music festival when he was kidnapped.
The third group of hostages will meet their families and undergo medical examinations in hospitals in Israel.
Israel has now received 40 hostages from Hamas over the past three days as well as 18 foreign workers.
Published by Globes, Israel business news – en.globes.co.il – on November 26, 2023.
Inflation gauges in the US and euro zone are set to show the smallest annual increases since early or mid-2021, reinforcing sentiment that interest rates won’t be raised again.
(Bloomberg) — Inflation gauges in the US and euro zone are set to show the smallest annual increases since early or mid-2021, reinforcing sentiment that interest rates won’t be raised again.
The Federal Reserve’s preferred measures will be published on Thursday, with the personal consumption expenditures price index seen rising 3.1% in October from a year ago. The core measure, which excludes food and fuel and is considered a better gauge of underlying inflation, is expected to have climbed 3.5%.
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Euro-region data for November, also due on Thursday, will probably show inflation at 2.7%, the lowest since July 2021. The underlying measure is seen slowing to 3.9%.
Despite the disinflation progress, officials on both sides of the Atlantic insist they want to see more evidence to be sure that consumer prices are durably under control. On Friday, European Central Bank President Christine Lagarde said that “we’re certainly not declaring victory.”
Fed officials are united around a strategy of being deliberate about the path for policy. Minutes of their last meeting showed that they took note of how higher rates were starting to squeeze households and businesses.
The Fed on Wednesday will issue its Beige Book of economic conditions and anecdotes from across the country.
The US personal income and spending report is also forecast to show only a slight advance in inflation-adjusted consumer outlays. The October downshift in demand help explain forecasts for a slowdown in the economy after a third-quarter growth spurt.
What Bloomberg Economics Says:
“The inflation impulse dulled in October, which should allow the Fed to stay on hold through year-end.”
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—Anna Wong, Stuart Paul, Eliza Winger and Estelle Ou, economists. For full analysis, click here
The government issues its first revision to third-quarter gross domestic product on Wednesday, the median forecast in a Bloomberg survey calls for 5% growth. Initial estimate of corporate profits are also expected.
Other US data in the coming week include October new-home sales, November consumer confidence, weekly jobless claims, and a key manufacturing survey.
For more, read Bloomberg Economics’ full Week Ahead for the US
Further north, Canada will release third-quarter GDP data that will reveal whether it entered a recession, though economists reckon on at least minimal growth. Jobs numbers for November will be the last major data point before the Bank of Canada’s rate decision on Dec. 6.
Elsewhere, the Paris-based OECD presents a new set of forecasts, Lagarde speaks to European lawmakers, and central banks from New Zealand to South Korea are expected to keep rates on hold.
Click here for what happened last week and below is our wrap of what’s coming up in the global economy.
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Asia
Central bank governors are expected to gather at the start of the week as part of the Hong Kong Monetary Authority’s global financial summit and Bank for International Settlements conference.
Chinese purchasing manager indexes will start being published toward the end of the week, data to be closely watched by investors for signs of recovery in the world’s second-largest economy.
The Bank of Korea is expected to hold rates steady on Thursday, though it continues to face a tricky policy environment where inflation remains sticky, growth weak and household debt on the rise.
South Korea is also set to report on trade data Friday, one of the earliest looks into how global demand was holding up in November.
The Reserve Bank of New Zealand and the Bank of Thailand are set to make their latest rate decisions on Wednesday, while India will report third quarter GDP the same day.
A range of Asian countries will report on manufacturing PMI data on Friday, from India to Vietnam to Indonesia, giving a broader view into how the region’s economies are holding up.
Bank of Japan board members will speak to business leaders and hold press conferences on Wednesday and Thursday, amid continued speculation over the timing for policy normalization.
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The country will also report on industrial production and retail sales data on Thursday, plus labor and business spending data on Friday, after figures showed the Japanese economy contracted in the third quarter.
For more, read Bloomberg Economics’ full Week Ahead for Asia
Europe, Middle East, Africa
Testimony by Lagarde to the European Parliament on Monday will provide investors with something to trade on before the inflation data.
Those numbers will arrive after a drip of national reports starting on Wednesday that are mostly expected to show a synchronized decline across major economies, albeit at divergent levels.
While Spanish inflation probably accelerated, it’s seen weakening in France to 4.1%, and the outcome in Germany is also projected lower at 2.7%. Italian price increases are expected to decelerate markedly further below the ECB’s goal, to 1.1%.
Friday may feature the release of several reports by ratings companies. Among them, S&P Global Ratings is scheduled to publish a view on France, and Scope Ratings could do the same for Italy.
In the UK, several Bank of England policymakers are due to make appearances, including Governor Andrew Bailey, while it’s a quieter week for data.
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After Sweden’s Riksbank surprised investors on Thursday by halting rate increases, third-quarter GDP on Wednesday may reveal a recession. Economic weakness was one argument economists gave to keep borrowing costs on hold – although Governor Erik Thedeen hasn’t closed the door on another hike.
On Friday, meanwhile, Swiss data could show that the economy returned to marginal growth during the same period after stalling in the prior three months.
Turning east, Poland will publish inflation, seen staying at 6.6% — more than twice as much as in the neighboring euro region. GDP numbers in the Czech Republic may show a recession.
In Israel, analysts expect the base rate to stay at 4.75% on Monday as the central bank continues supporting the currency. The shekel has recovered all losses since Israel’s war with Hamas began in early October, but officials may refrain from cutting rates until next year.
The same day, Ghana, the world’s second-largest cocoa producer, is set to leave borrowing costs unchanged.
Mauritius on Tuesday is also poised to hold rates steady as inflation has eased below the central bank’s 2% to 5% target range earlier than expected. And with inflation quickening again, gas-rich Mozambique is also likely to keep borrowing costs unchanged on Wednesday.
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For more, read Bloomberg Economics’ full Week Ahead for EMEA
Latin America
Latin America has a light economic calendar in the coming week, with highlights to include mid-month consumer prices index in Brazil and an inflation report by Mexico’s central bank.
Brazil’s mid-November inflation, due on Tuesday, is expected to further decelerate from a year ago, justifying the central bank’s pledge to deliver at least two more rate cuts of half a percentage point.
Mexico releases its inflation report the following day. The document, which usually brings revisions to growth estimates, may shed light on the timing of a much-anticipated monetary easing cycle.
The central bank has signaled that rate cuts are near, but the latest economic activity data, including third-quarter GDP figures released on Friday, showed Latin America’s second-largest economy is performing better than economists forecast.
Chile publishes a number of activity and production reports starting on Thursday, the most important being Friday’s Imacec index of economic activity for October. The indicator, considered a proxy for GDP, had its biggest gain in eight months in September, surprising economists.
Also on Friday, Brazil releases industrial production for October, while Mexico publishes remittances data for the same month.
For more, read Bloomberg Economics’ full Week Ahead for Latin America
—With assistance from Monique Vanek, Piotr Skolimowski, Yuko Takeo, Molly Smith and Laura Dhillon Kane.
Anglo American Plc is considering cutting jobs at two units in South Africa because of declining platinum-group metal (PGM) prices and bottlenecks curbing iron ore exports, four people familiar with the situation said.
The company has held talks with the government over the potential reduction in its workforce, the people said, asking not to be identified because the matter hasn’t been made public.
Senior government officials asked the company to consider delaying the cuts until after elections likely to take place around May, three of the people said.
The Congress of South African Trade Unions said that Anglo has also spoken to one of its members, the National Union of Mineworkers, about the matter.
The job cuts would be another blow to the electoral prospects of President Cyril Ramaphosa and his ruling African National Congress (ANC).
Anglo is already in the midst of plans to slash corporate and head office jobs globally, with many of those positions in South Africa. The company joined other mining behemoths in posting a steep drop in first-half profit as China’s economic slowdown damped earnings.
Anglo American Platinum (Amplats) — about 79% owned by London-based Anglo — is contending with a 14% fall in the price of platinum this year and a 41% plunge in palladium, a valuable byproduct.
Rival Sibanye Stillwater said in October that it may fire more than 4 000 platinum workers.
Kumba Iron Ore Ltd., owner of South Africa’s biggest iron ore mine and a 70% subsidiary of Anglo, said third-quarter iron ore sales fell 12% from the year earlier, largely because of the poor performance of state ports and freight rail company, Transnet. The company is almost out of storage space for the ore it has mined and can’t rail it, one of the people said.
“It is no secret that the current operating environment is very tough for both macro and South Africa-specific reasons, and we are playing a major role in working across business and with government to help resolve some of those South Africa constraints,” Anglo said in a response to queries.
“Beyond that, it would be inappropriate for us to comment on the details of our discussions,” Anglo added.
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While a final decision on whether to fire workers and how many positions may be affected has not been taken, the job cuts may impact Amplats first, the people familiar said. Those at Kumba may be deferred until later, they added.
Amplats’ share price
The minerals department didn’t respond to a request for comment, while Gwede Mantashe, minerals and energy minister and chairman of the ANC, didn’t answer a call to his phone or respond to a text message.
PGM prices are falling because of global economic conditions, especially the weaker-than-expected recovery in China.
Kumba’s woes are directly related to the sub-standard performance of Transnet, whose inability to rail commodities to ports has also led to coal companies Seriti Resources Holdings and Glencore Plc to start talks over job cuts.
The plunge in rail performance has seen the amount of iron ore transported to ports fall to the lowest in a decade, while coal shipments by rail are at a 30-year low, according to a report prepared for Ramaphosa’s office.
In a 24 October production report, Kumba said “ongoing rail and port challenges have increased our focus on cost optimisation and initiatives to match production and optimise logistics capacity.”
It said it had 9 million tons of iron ore in stock at the end of September, almost double the amount it had on site a year earlier.
Hi friends! How are you? I hope you had an amazing Thanksgiving! We’re here in Arkansas with the Pilot’s mom, sis, and our niece and nephew. It’s our first time spending Thanksgiving out here in years, and it’s such a treat to have some time together. The girls were so excited to make a trip out here and are blown away by the trees and greenery. It’s a stark contrast from our lovely brown and cactus-filled Tucson desert.
The Pilot was visiting his dad this week, who lives in Atlanta, so the girls and I flew out super early Thanksgiving morning and he flew from Atlanta to meet us in Little Rock. We rented a super cute lake house for the long weekend and are looking forward to movies, hikes, and exploring.
Well, we all know what today is for:
SHOPPING.
I LOVE Black Friday. I have fond memories of shopping with with mom and nana growing up. We’d wake up when it was still dark and head to the stores as they opened. Even though I enjoy the frantic energy and chaos (in a weird way), here’s something I enjoy even more:
eating a piece of cold leftover pie, drinking coffee, and ordering everything online in my pajamas. Technology is a gift, I tell ya.
I was able to scour some of the sales early, and I created this list of the best things I’ve found!! I know every blogger and creator in the land is sharing their affiliate links today, so I just wanted to say thank you to those of you who choose to shop through my links. You’re directly supporting our family and the work I do here on the blog, and I hope you know how much I appreciate it.
Now, onto the good stuff!
Amazon finds:
My beloved walking pad. I use this every single day and love it to get in extra steps during the work day.
Organifi: HUGE savings on my favorite essentials, including Harmony, Red Juice, Green Juice, Immunity, and Pure. If you use this link, it will stack my code onto current Black Friday promos.
EquiLife: Up to 25% favorite and 10% off labs. (If you’re interested in lab testing, I can order wholesale for 1:1 clients. Send me an email gina@fitnessista.com). Use code FITNESSISTA10. I’ll be stocking up on Universal Binder, Magnesium, B complex, and Daily Nutritional Support. New subscriptions save 30% and then you don’t have to think about ordering each month. You get a free Theraband with orders over $149!
Aviron: This is their only sale so far this year. I wanted a rower for years and was so excited to get this one, after doing a ton of research. It’s well-constructed – it’s STURDY and sleek- and you can stream Amazon, Hulu, Netflix, Disney+, and play games.
Sakara: You can still use my link and code XOGINAH for 25% off at Sakara. This is the best time to try their meal delivery! The meals are fresh, vibrant, beautiful and made with organic ingredients. I’ve tried a few meal delivery services and nothing compares to Sakara. The also have great snacks (the metabolism bar is a fave!) and supplements. Their holiday popcorn trio was a huge hit in our house, too. Treat yourself heeeeeere.
Beautycounter: 20% off sitewide, free shipping over $50, and choose a free gift with orders over $150. This is the best Black Friday promo I’ve ever seen them run!
ButcherBox: We get almost all of our meat from ButcherBox, since they have wild-caught seafood, grass-fed and organic meat, organic chicken, and also dog treats! I’m order our Christmas meat for our December shipment, including a turkey and their amaaaaazing beef tenderloin.
Lululemon: Check out their “We Made Too Much” section for their Cyber Deals – they’re always adding new products!
Some more of my favorite things:
Erin Condren. This is the planner I order every year on Black Friday for the following year. I’m going on 7 or 8 years now (maybe longer??) and it helps me keep my life together (for the most part lol). Paper planners for life. I also order personalized stationery for myself and the girls, mailing return labels, and notecards.
Hanna Andersson. This is where we get our holiday PJs every year aaaand they’re 50% off right now.
Our Place. We switched over to nontoxic cookware years ago, and Our Place continues to be one of my go-tos. The pan is used every single day and I also love the pot. They’re also beautiful!
Spanx set. If you don’t own this Spanx set yet, it 100% lives up to the hype. It’s the softest dreamiest fabric and I’m thisclose to ordering another set. They have dupes on Amazon, but from what I’ve heard, it’s worth the splurge because it’s more tailored and structured. I wore it all day yesterday – on the plane and then for our feast! – and was comfy all day. Top is here and bottoms are here.
MADE Smarter, a programme helping SME manufacturers access technology and digital skills, is to be rolled out to Scotland.
The Government has committed to expanding the Made Smarter Adoption Programme to all nine English regions in 2025-26 before working with Scotland, Wales, and Northern Ireland from 2026-27.
The announcement by HM Treasury, on Friday November 17, means hundreds of thousands more SME manufacturers will get access to technology advice, leadership, and skills training, as well as grant funding for digital internships and technology projects.
The commitment, alongside plans for £4.5 billion in funding for British manufacturing, will also boost productivity, growth, and decarbonisation for SME manufacturers across the country.
Launched in the North West in 2019, the Made Smarter has engaged with 2,500 manufacturers and funded 334 technology projects, which are forecast to create 1,550 jobs, upskill 2,772 existing roles, and increase North West GVA by £242m.
The successful blueprint has since inspired Made Smarter adoption programmes in the North East, Yorkshire and the Humber, the West Midlands, East Midlands, and West of England.
The announcement coincides with the publication of a new report by Made Smarter. ‘Delivering Impact: How Made Smarter Inspires Digital Transformation‘ outlines the impact of the adoption model and proposes ways to make it even better.
Brian Holliday, Co-Chair of the Made Smarter Commission and MD of Siemens Digital Industries, said: “This announcement by the Treasury clearly demonstrates that UK manufacturing matters. It represents a tremendous investment boost for our makers that will enable the confidence to invest in innovation, productivity, and sustainability.
“Key sectors benefit but so does the long tail of small and medium firms which is really important to directly address our recent challenges of weak overall productivity and investment.
“I believe the business benefits of digitalisation are now clear, while being an enabler for industrial decarbonisation too – the package of measures announced in bolstering Made Smarter, targeted regulatory reform and sector support, along with our world-class Catapults and Universities now makes the UK one of the best countries on the planet to sustainably design, make and export goods.”
Donna Edwards, Director of Made Smarter’s North West adoption programme, said: “I am delighted that the Government has recognised the extraordinary impact that Made Smarter’s adoption programme is having on digitalisation of SME businesses.
“Over the last four years we have worked tirelessly to help North West makers to start their digital journey by providing them with specialist advice to help them select the right approach, level of investment and tools for their business. The programme has proven the value technology and digital skills can bring to the manufacturing sector.
“While we await further details on the funding package, the commitment to a national roll-out is a huge vote of confidence in the contribution SMEs make to UK manufacturing. It will undoubtedly turbo charge the digital transformation of the sector.”
Juergen Maier, Industrialist and author of the Made Smarter Review, added: “I am delighted that the Made Smarter programme, kicked off by the manufacturing review I had the privilege to lead in 2017, is now being expanded England-wide and with promised continuity to 2030.
“It is exactly this sort of policy continuity that our manufacturing sector is looking for and I know it will stimulate investment and productivity.”
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