Top Trending Business News & Highlights
Nykaa Q4 Results: Net profit soars 187% YoY; GMV growth in the beauty industry reaches its greatest level in six quarters; five salient features
Results for the January-March quarter of fiscal 2023–24 (Q4FY24) were released by Nykaa's parent company, FSN E-Commerce Ventures, on Wednesday, May 22. The results showed a massive four-fold increase in the quarterly net profit attributable to shareholders, with a preference for customer retention over steep discounts. In the fourth quarter of FY24, the net profit increased by 187% to ₹6.9 crore from ₹2.4 crore during the same period the previous year. The company headed by Falguni Nayar had a 28% increase in operating revenue in the March quarter, totaling ₹1,668 crore, as opposed to ₹1,302 crore during the same period the previous year. The inclination of wealthy customers for high-end cosmetics and fragrances from names like Dior, Bobbi Brown, and Estee Lauder drove the sales.
Published 04 Jun 2024 10:34 PM
Microsoft Unveils Copilot for Finance, an AI Solution to Simplify Tasks Associated with Enterprise Finance
Microsoft on Thursday unveiled Copilot for Finance, a new artificial intelligence (AI) tool designed to make everyday mundane tasks easier for financial professionals. The Copilot tool adds new features tailored to financial operations to the already-existing Copilot for Microsoft 365 stack, rather than creating a brand-new AI model. This AI tool, which focuses on enterprises, is currently in public preview. Notably, a recent update from the tech giant revealed additional features and significant enhancements for Windows 11.Microsoft presented its new AI tool in a blog post, pitching it as a means of allowing finance departments within businesses to focus on strategic tasks rather than tedious analysis and report writing. The business also cited a statistic from CFO magazine, stating that the "drudgery of data entry and review cycles" was cited by 62% of finance professionals polled as a reason they could not find time for strategic tasks. The tech giant claims that Copilot for Finance automates a number of financial tasks that would otherwise require users to put in long hours. It can accomplish a wide range of tasks, including using natural language prompts to conduct a variance analysis in Excel, reconciling data in Excel with automated data structure comparisons, giving a comprehensive summary of pertinent customer account details, transforming raw data into visuals and reports, and much more.
Published 04 Mar 2024 05:41 PM
Survey Says RBIs Paytm Action Won Affect Merchants Trust
Merchants' trust in the payment platform is unaffected by the severe limitations the Reserve Bank of India (RBI) placed on Paytm Payments Bank (PPBL), according to a survey done. According to Datum Intelligence, a Gurugram-based provider of business consulting and services, 59% of retailers still use Paytm and don't think the government crackdown will have an immediate effect on their business. The business conducted a survey with 2,000 business owners in 12 cities who accept payments through Paytm apps. According to a press release from Datum Intelligence, it was done between February 7 and February 15. Survey Says RBI's Paytm Action Won't Affect Merchants' Trust According to a Datum survey, 76% of retailers accept payments through Paytm. Merchants' trust in the payment platform is unaffected by the severe limitations the Reserve Bank of India (RBI) placed on Paytm Payments Bank (PPBL), according to a survey done. According to Datum Intelligence, a Gurugram-based provider of business consulting and services, 59% of retailers still use Paytm and don't think the government crackdown will have an immediate effect on their business. The business conducted a survey with 2,000 business owners in 12 cities who accept payments through Paytm apps. According to a press release from Datum Intelligence, it was done between February 7 and February 15. According to the survey, 21% of retailers are awaiting additional information The fact that a Paytm representative contacted them following the RBI ruling is what gives retailers their confidence. "After being contacted by a Paytm representative, 71% of merchants feel comfortable continuing to use Paytm for payments. According to the Datum Intelligence survey, only 11% of respondents are less confident about using Paytm for payments, and 14% of respondents are still looking for more information."Overall, the impact is limited on the merchant business and Paytm is engaging with merchants to reduce the damage and merchants are also waiting before deciding on alternatives," it added.
Published 28 Feb 2024 05:01 PM
India Accepts All Foreign Investment In The Space Industry
In an effort to facilitate business in the nation, the Indian government approved an amendment on Wednesday that permits 100% foreign direct investment (FDI) in the space sector. The government stated in a statement that the FDI policy reform will encourage growth in investment, income, and employment. The government stated in a statement that the FDI policy reform will encourage growth in investment, income, and employment.
Published 22 Feb 2024 01:45 AM
Business
Business globally are the pillars of any economy and they contribute in huge amount to take any country ahead financially and economically and boost the country grwoth.
Why did India decide to remove the "Google tax" in response to pressure from the US?
The Center intends to eliminate the 6% equalization levy (EL) it levies on digital advertisements as part of the 35 modifications to the Finance Bill, 2025, effective April 1, 2025.The Central government has suggested to eliminate the equalization levy on internet advertisements as part of revisions to the Finance Bill, 2025, a move that is anticipated to help American large technology companies and allay US worries about India being a high tariff country.As part of changes to the Finance Bill, 2025, the central government has proposed doing away with the equalization levy on online ads. This is expected to benefit big IT companies in the US and ease concerns about India being a high-tariff nation.The equalization charge, also referred to as the Google tax, will be eliminated by the Center on April 1. The clause is one of 59 changes to the Finance Bill that Finance Minister Nirmala Sitharaman made on Monday and presented to Parliament.
The NIFTY50 hovers above 22,800, the SENSEX jumps 1,131 points, and the whole market shines as well.
The NIFTY50 and SENSEX both ended the day at their one-month high. For the first time since February 21, 2025, the 50-share NIFTY 50 index surpassed the 22,800 level. Additionally, the BSE SENSEX leveled off above 75,000.Tuesday, March 18, saw a 1.5% increase in the Indian stock market due to strong buying in the financial and metals sectors and outperformance by the overall market. The encouraging global cues also improved market sentiment. The NIFTY50 and SENSEX both ended the day at their one-month high. For the first time since February 21, 2025, the 50-share NIFTY 50 index surpassed the 22,800 level. Additionally, the BSE SENSEX leveled off above 75,000. The NSE's NIFTY50 index closed 325.55 points, or 1.45%, higher at the 22,834.30 level, while the S&P BSE SENSEX closed at 75,301.26, up 1,131.31 points, or 1.53%. Out of the 3,016 equities that were traded on the NSE, 2,288 scrips rose, indicating that the market attitude continued in favor of bulls. At the end of the day, the smallcap and midcap indices both saw gains of nearly 2.8%. On Tuesday, all sectoral measures ended the day higher.Investors are also anticipating updates about tariffs and the US Fed's interest rate decision.
Why Vodafone Idea's stock is down 4% from its peak
In response to a report citing sources that indicated the telecom operator has not obtained any respite from the government over the Rs 6,090 crore bank guarantee (BG) that it was required to deliver today, Vodafone Idea Ltd. shares fell 4% from the day's peak.According to reports cited by CNBC Awaaz, the telecom operator requested relief upon delivering this bank guarantee but has not received any. Subject to specific terms and conditions, DoT waived the need for financial bank guarantees for spectrum purchased at spectrum auctions in 2012, 2014, 2015, 2016, and 2021 in its notification of December 27, 2024.From a day's high of Rs 7.64 to a day's low of Rs 7.27 a share, the stock dropped 3.7%. In the last year, the stock has dropped 48%. For the 2012, 2014, 2016, and 2021 auctions, Vodafone Idea had previously anticipated that VIL would not be needed to supply any BGs out of the five auctions listed. The NPV of all payments paid would, however, be less than the prorated value of the spectrum used, resulting in a one-time partial shortfall only for the 2015 auction. To find out the precise amount of this partial shortfall for the 2015 auction, we are negotiating with the DoT," VIL stated in December 2024.For the aforementioned auctions, VIL was required to provide BGs totaling Rs 24,800 crore against each spectrum installment 13 months before the installment was due. "The government has supported the industry by waiving the bank guarantee. As stated by Vodafone Idea CEO Akshaya Moondra following the company's February 12 results call, "We are working towards closure of debt funding for the execution of our long-term network expansion plan."
What is the US Bitcoin reserve that Donald Trump is creating, and how will it operate?
A Strategic Bitcoin Reserve and a stockpile of other digital assets have been established by an executive order issued by US President Donald Trump, which he had pledged to implement during his presidential campaign last year.According to the executive directive, Bitcoin is the first cryptocurrency. "Being one of the first countries to establish a strategic bitcoin reserve has a strategic advantage because there is a limited supply of BTC."The Department of Treasury's bitcoin that was seized as part of criminal or civil asset forfeiture procedures will be used to capitalize the reserve. According to the decree, other authorities will assess their legal capacity to move any bitcoin they control to the Strategic Bitcoin Reserve.However, it had no beneficial effect on the price of Bitcoin, which at the time of publication was down more than 4%. As part of the presidential order, the Department of Treasury also created a US Digital Asset Stockpile, which is made up of digital assets other than bitcoin that have been forfeited in criminal or civil asset forfeiture actions.The operation of the Bitcoin Reserve There is currently no clear policy in place for managing these assets, which "leads to a lack of accountability and inadequate exploration of options to centralise, secure, or maximise their value," according to a fact sheet created by the US White House. The U.S. government is thought to possess over 200,000 bitcoin, but a thorough audit has never been conducted. The White House czar for AI and cryptocurrencies, David Sacks, stated in a post on X that the E.O. oversees a thorough audit of the federal government's digital asset holdings.
February 27, 2025 is highlighted in today's latest market news: For the first time in 29 years, the Nifty fell for five consecutive months.
Current Market Information Highlights for today: Watch the market wrap-up for today! Follow the fluctuations of the Sensex and Nifty 50, as well as the top winners and losers. See which sectors drove the growth (or drop) and how the US and Asian markets performed. Summary: For up-to-date information on your favorite businesses, follow Mint's market blog. This blog provides you with up-to-date information about global markets and Dalal Street.Due to broad-based selling on Dalal Street, worries about global economic growth brought on by the tariff war, FII outflows, and muted Q3 profits, the Sensex and Nifty recorded their fifth consecutive monthly loss on Friday, the longest such run since 1996. The last time the Nifty experienced a five-month run of declines was from July to November 1996. From September 1994 to April 1995, it experienced its longest losing streak, which lasted eight months. Compared to the valuation of Rs 393.10 lakh crore recorded in the previous session, investor wealth decreased by Rs 8.82 lakh crore to Rs 384.28 lakh crore today. On Friday, the Sensex fell 1414 points to 73,198, while the Nifty fell 420 points to 22,124. For the seventh consecutive session, the Nifty has lost money. After closing slightly higher in the previous two sessions, the Sensex concluded the day lower. The Sensex is down 6.32% and the Nifty has lost 6.43% in 2025 amid the continuing slump. The Sensex fell 3.56% and the Nifty fell 3.63% in February.The Sensex is currently down 12,780 points, or 15%, from its peak of 85,978 on September 27, 2024. The 50-stock Nifty has dropped 4,152 points, or 15.80%, from its peak of 26,277.
Trump 2.0 raises awkward policy questions for Europe — but some lawmakers see ‘real opportunity’
The European Union is faced with some uncomfortable questions regarding U.S. President Donald Trump's "America First" program. Trump's return to the White House may be advantageous for the bloc this time around, according to EU officials, some of whom found his combative style difficult to handle during his first four-year term. Trump's presidential triumph may present Europe with a "real opportunity," according to Laurent Saint-Martin, minister delegate for international trade and French nationals abroad, who spoke to CNBC.U.S. President Donald Trump’s “America First” agenda raises awkward questions for the European Union, although some lawmakers say Trump’s return to the White House could be a “real opportunity” for the 27-nation bloc. Trump, who promised a new “golden age” for America in his inaugural address on Monday, has repeatedly threatened to impose duties on goods imported to the U.S. from the EU, stoking fears of a possible trade war. Earlier this week, Trump told reporters that the EU has been "very, very bad to us." They will therefore be subject to tariffs. Fairness can only be achieved in this manner. His comments come as the new U.S. government mulls putting an additional 10% duty on goods imported from China, potentially starting from next month. EU officials, some of whom battled with Trump’s confrontational manner during his first four-year term, have suggested his return to office could be a plus for the bloc this time around.At the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Laurent Saint-Martin, France's minister delegate for foreign trade and French nationals abroad, called Trump's election victory a "real opportunity" for Europe and told CNBC's Dan Murphy, "We have to stick together, this is very important."
The Trump effect has caused Australia's carbon emissions target to halt.
As the advisory body weighs the likely impact of Donald Trump's presidency, Labor is on track to go to the federal election without a 2035 emissions reduction target.Bloomberg — Donald Trump's entry to the White House is projected to put Australia's new carbon emission reduction objectives by 2035 out past the next election, which is scheduled for May, by several months.On Monday, Bowen said on Australian Broadcasting Corp. radio, "We don't know yet whether he'll be able to abolish the Inflation Reduction Act." If that happens, that's a bad thing. However, the money must go elsewhere if the US shows less interest in investing in renewable energy. Furthermore, Australia will be at the top of the list. The center-left Labor government in Australia has made an effort to change the nation's standing as a global climate laggard. It enacted the country's first emission reduction goals shortly after taking office, promising to reduce emissions by 43% from 2005 levels by 2030.Early next year, Australia is anticipated to agree to revised 2035 targets under the Paris Agreement. Matt Kean, the chairman of the Climate Change Authority, stated that it would take more time to recommend how much should be decreased. In an interview with the Sydney Morning Herald, Kean stated that "the election of Donald Trump, his statements on climate change, and his positions on energy policy are likely to have a global impact." "We will need longer time to offer the target's recommendations because of this additional work. We anticipate being able to complete this work in a few months.Due to the delay, the announcement of the 2035 aim is most likely to occur after the next election, which is scheduled for May 17. Although both political parties in Australia have committed to achieving net zero by 2050, the opposition Liberal-National Coalition has so far declined to establish any immediate goals.
If the RBI and Trump government cooperate, the rupee might reach 87/$ by March.
Mumbai: By March 2025, analysts from Standard Chartered and Deutsche Bank, among others, predict that the value of the Indian rupee would have dropped to 87 versus the US dollar.They warned that the rupee would reach the 87 level before the end of current fiscal year if the tariff battle intensifies and the Reserve Bank of India loosens its foreign exchange market intervention approach.According to Anubhuti Sahay, head of India Economic Research at Standard Chartered Bank, "the RBI has shown higher tolerance for a weaker INR in the last few weeks, as seen in the FX market." "A stronger USD has caused the INR to decline by 1.6% from the end of November 2024. Such a rate of depreciation was observed across a number of months rather than just one month in comparable prior episodes," she said. Between April and September, the rupee lost 0.47% of its value in relation to the US dollar; but, since October, the depreciation has accelerated to 2.21%.Economists claim that the wide dollar strength in the face of US exceptionalism, tariff threats, and a narrowing emerging market rate gap with the US is what has caused the rupee's pressure and the ongoing weakness in Asian forex markets.
Very important source of capital: Neelkanth Mishra, an economist, urges China to increase its contribution
Mishra claimed that given the extremely low yield of 1% on government bonds and the negative foreign direct investment, India's northern neighbor will be "spewing out" a lot of cash, drawing comparisons to Japan in the 1980s.Axis Bank chief economist Neelkanth Mishra, who also serves on the Prime Minister's Economic Advisory Council, urged India on Friday to increase its reliance on Chinese investment. Mishra said that given the extremely low yield of 1% on government bonds and the negative foreign direct investment, India's northern neighbor will be "spreading out" a lot of wealth, drawing comparisons to Japan in the 1980s.Given the tense relations between India and its northern neighbor, Mishra, a part-time member of the EACPM, acknowledged the delicate issues at hand. He also cited the 2020 "Press Note 3" that attempted to limit flows from China.We already have money, such as China Light and electricity, which owns electricity facilities in India. At a conference hosted by the Sebi-backed NISM here, Mishra stated, "It's not that we haven't seen that, but (Chinese) can be a very important source of capital."
Gold Rate, January 8: Verify the prices of gold in key cities such as Delhi, Ahmedabad, Mumbai, and Pune.
This article examines the key patterns and influences that have influenced India's gold price as well as prospects for this valuable metal in the future.Today's Gold Rate, January 8: Indians have long had a particular place in their hearts and minds for gold, which represents prosperity, wealth, and cultural significance. In India, it is among the most popular investment options, particularly in difficult economic times. India's gold prices have fluctuated greatly over the years due to a number of internal and international causes. This article examines the key patterns and influences that have influenced India's gold price as well as prospects for the precious metal going forward. The price of gold in India has steadily increased over the last few decades, especially during the 2000s. Gold was trading at about INR 4,400 per 10 grams in the early 2000s. With some major hiccups along the way, the price trajectory has mostly been upward since then.
Why is the Indian stock market declining, and how should one trade at this time, when the Sensex plummets by more than 600 points?
Today's stock market: On Wednesday, January 8, the Indian stock market continued its downward trend amidst weak global cues, confirming concerns that the gains from the previous session were not sustainable. Notwithstanding numerous obstacles, market sentiment is still brittle.The Nifty 50 dropped below 23,500, and the equity benchmark Sensex plummeted more than 700 points during intraday trading.After closing at 78,199.11, the Sensex began at 78,319.45 and fell more than 700 points, or 0.90 percent, to below 77,500. After closing at 23,707.90, the Nifty 50 began at 23,746.65 and fell more than 200 points, or 0.90 percent, to 23,496.15. Up to 2% of the BSE Midcap and Smallcap indices were broken. Due to persistent FPI selling, the Nifty 50 fluctuated between 23,500 and 24,700 levels over the past two months before reversing back to about 23,500, according to Vikas Jain, Head Research Analyst at Reliance Securities.According to Jain, the index will drop to 21,800–21,500 levels if the support zone of 23,200 is breached. These levels correspond to long-term averages, election lows, and a 23.6% retracement of the preceding move (7,511-26,277).
When it comes to humanoid robots, China leads the way.
China is quietly changing the game by not only integrating robots into everyday life but also advancing their industrial uses by lowering costs and pushing boundaries. US star Kim Kardashian may have drawn attention by bringing humanoid robots shopping.With products like Xiaomi's futuristic CyberOne and UBTech's nimble Walker X, domestic innovations are transforming sci-fi fantasies into "tangible tech" and making a big impact on the market.The AI Plus plan, which aims to develop future industries, including humanoid robots, while bolstering the country's scientific and technological edge, was also prominently featured at the historic Central Economic Work Conference in December.Humanoid robots are predicted to become yet another "disruptive product" following computers, smartphones, and new energy vehicles, according to Xu Xiaolan, a former vice-minister of industry and information technology and member of the Standing Committee of the Chinese People's Political Consultative Conference National Committee."Currently in China, new technologies, products and formats represented by humanoid robots and general artificial intelligence are thriving and becoming the pinnacle of global technological innovation, a new track for future industries and a new engine of economic growth," she stated. China's fast expanding humanoid robot market is expected to generate $2.9 billion in sales revenue in 2024 and soar to around $46.31 billion by 2031, at a startling compound annual growth rate of 48.6 percent, according to market consultancy Coherent Market Insights. According to Jiao Jichao, vice-president and executive dean of the research department of UBTech Robotics, "If we compare the humanoid robotics industry to a marathon, China and Western countries are all within the first 1,000 meters of the starting line." The first humanoid robot in China to perform full-process handling duties at an automobile production was Walker S, created by the Chinese artificial intelligence and humanoid robotics company UBTech. Additionally, the business struck a collaboration deal with Beijing Embodied and Audi FAW.
Vodafone Group releases its promise on VIL shares and pays lenders Rs 11,650 crore.
Nearly the whole share in VIL has been committed by Vodafone Group to pay off the debt. For the debt generated by Vodafone Group companies situated in Mauritius and India, a pledge was made in favor of HSBC Corporate Trustee Company (UK).According to a regulatory filing, the UK-based Vodafone Group has paid off debts totaling around Rs 11,650 crore, or 109 million pounds, that it raised against Vodafone Idea (VIL) shares. Nearly the whole share in VIL has been committed by Vodafone Group to pay off the debt. For the debt generated by Vodafone Group companies situated in Mauritius and India, a pledge was made in favor of HSBC Corporate Trustee Company (UK).According to a regulatory filing, the UK-based Vodafone Group has paid off debts totaling around Rs 11,650 crore, or 109 million pounds, that it raised against Vodafone Idea shares. Nearly the whole share in VIL has been committed by Vodafone Group to pay off the debt.
According to the worldwide cheetah index, China comes in at number two.
According to the Hurun worldwide Cheetahs Index 2024, which was published on December 18, China has risen 4% from the previous year to take second place with 304 businesses out of the top 928 worldwide startups.The startups that are most likely to "go unicorns" with a $1 billion valuation in five years are the Cheetahs, which were established in the 2000s.According to Hurun Report chairman and chief researcher Rupert Hoogewerf, the list companies were established within an average of eight years, yet they are already valued at an average of $400 million.With 71% of all cheetah enterprises worldwide, the US and China lead the global cheetah index.In terms of industries, the primary cheetah-related businesses are biotech and healthtech, which are followed by fintech, AI, and enterprise services. Furthermore, more than 25% of businesses have included AI into their main offerings, particularly impacting sectors like cybersecurity, healthcare, and business management solutions. Over 70 new entrepreneurial firms were established in China in the last year, mostly in the biotechnology, health technology, robotics, semiconductor, and new energy sectors. Forty-five startups had their valuations raised, nine of which were designated "unicorns."With 68 businesses, Shanghai continues to be the top destination for cheetahs worldwide. Beijing has 56 cheetah firms, followed by Shenzhen with 35, Hangzhou with 34, and Guangzhou with 26.
The acquisition of Canadian Western Bank by National Bank of Canada has received final approval.
The federal finance minister has given the National Bank of Canada permission to purchase Canadian Western Bank (CWB).The bank with its headquarters in Montreal says it is happy that the final regulatory milestone has been reached.On February 3, 2025, the roughly $5 billion acquisition is scheduled to be finalized. It states that the two banks would cooperate to ensure a seamless transfer. Laurent Ferreira, the CEO of National Bank, stated earlier this month that the planned acquisition represents a crucial component of the business's domestic expansion in the upcoming year.The last regulatory obstacle has been removed in the $5 billion acquisition of Canadian Western Bank by National Bank of Canada. The final step in the takeover, which is scheduled to be finalized on February 3, 2025, was announced Friday by the Montreal-based National Bank: the federal finance minister has approved the agreement.In a press release, National Bank president and CEO Laurent Ferreira stated, "This is fantastic news for Canadians and will enable our two complementary banks to come together and improve services for our customers."The Competition Bureau and the Office of the Superintendent of Financial Institutions had earlier approved the merger. In September, shareholders of Canadian Western Bank approved the deal.National Bank has described its acquisition of Canadian Western Bank, based in Edmonton, as a crucial component of its 2025 domestic expansion plan. According to Ferreira, the acquisition will enable further expansion in Western Canada and solidify National Bank's position nationwide.The Montreal-based bank announced on Friday that the two businesses will now collaborate to guarantee a seamless transition for CWB workers and clients, who will soon receive more details about what comes next. According to the corporation, National Bank will begin incorporating CWB into its financial results in the second quarter of 2025.
After landing a $15 million leaseback agreement for US facilities, Ecofibre relieves the strain on its debt.
Following the acquisition of a US$9.7 million ($15.3 million) leaseback agreement for three production facilities in the US, the medicinal cannabis business Ecofibre (ASX: EOF) has essentially settled a persistent debt owed to lender Nubridge. The sale is a component of the company's deliberate attempt to cut expenses in the wake of a $40 million net loss in FY24 and a precipitous decline in revenue in the first quarter.Ecofibre has sold a third production facility for Ananda Health in Georgetown, Kentucky, as well as two locations in Greensboro, North Carolina, that were utilized for Ecofibre Advanced Technologies' manufacturing operations. Ecofibre will pay US$1.2 million ($1.9 million) in rent per year for the properties under the leaseback arrangements, with yearly rate increases of 3% fixed for the first three years.Ecofibre will immediately pay down US$9 million of the US$10 million it owes secured lender Nubridge Commercial Lending LLC with the proceeds of the sale. At an interest rate of 12 percent annually, the remaining $1 million will be transformed into an unsecured debt that must be repaid by December 2027.Ecofibre's October announcement that it would get a new financing facility through a group of lenders to pay back the US$10 million due to Nubridge and a $1 million debt owed to the James & Cordelia Thiele Trust Fund has been nullified by the sale of the properties.
Ottawa will lift the 30% investment cap on pension funds in Canada.
In an effort to encourage greater investment, the government of Prime Minister Justin Trudeau is loosening regulations for domestic pension funds, enabling them to purchase over 30% of a Canadian company.Two days priorBloomberg — In an effort to encourage greater investment, the government of Prime Minister Justin Trudeau is loosening regulations for domestic pension funds, enabling them to purchase over 30% of a Canadian company."The battle for capital has never been more intense at a time of growing economic nationalism," said Finance Minister Chrystia Freeland in a statement on Friday."Canada must battle for capital more vigorously than ever before, which includes encouraging and assisting Canadian capital to invest domestically. All Canadians' future prosperity depends on this. The Canada Pension Plan Investment Board and other federally regulated pension managers will be affected by the change, although Freeland's department stated that it will confer with provincial governments over how to handle pension plans that are under to their regulations.Additionally, the government announced that it intends to contribute up to C$15 billion ($10.5 billion) in loans and equity to support the construction of AI data centers, noting that seven pension funds have already indicated interest in supporting such initiatives. The statements coincide with a national discussion about how to address low productivity and soft business expenditure. For a number of years, non-residential corporate investment in Canada has not kept pace with that of the United States. Although the technology industry in Canada is thriving, many promising businesses sell out or relocate to the US at a relatively early stage of development in order to seek expansion. Few IPOs worth more over $100 million have been made on the Canadian market in recent years.The government stated that as part of the extensive package of initiatives, a fourth round of the Venture Capital Catalyst Initiative will be launched, with C$1 billion in funding in 2025–2026 and "more enticing terms for pension funds and other institutional investors." Additionally, Freeland and the government are considering changing ownership regulations that prohibit pension funds from controlling over 10% of municipal utilities, including electricity distributors. Stephen Poloz, the former governor of the Bank of Canada, was asked in April to research ways to encourage the nation's pension funds to make greater investments in Canada. One suggestion was to eliminate the 30% ownership cap. Poloz told Bloomberg in September that several pension funds expressed interest in playing.
Private companies poised to boost the economy
Leading entrepreneurs said Thursday that China's private companies are confident in their ability to overcome obstacles and take advantage of opportunities in a changing global environment because the government has implemented a number of policies that assist the private sector.The chairman and CEO of Tencent Holdings, Ma Huateng, stated in a People's Daily essay on Thursday that the government has lately implemented a potent set of incremental measures that have assisted in addressing the urgent issues and bottlenecks that have hampered the economy. "These actions are directly addressing the demands of the market and giving companies new hope that the government will continue to pursue a stable economic recovery. Additionally, this has given businesses more confidence and strengthened their conviction that they should act boldly and decisively in order to proceed with unwavering determination," Ma said.He believes that the internet and the digital technology sector are essential to reviving the economy. According to him, Tencent has been investigating new directions in digital consumption and developing a variety of models and scenarios to increase demand. "Looking ahead, Tencent is committed to ramping up investment in line with government encouragement, championing the spirit of entrepreneurship, and weaving together technological innovation and industrial advancement more deeply than ever before," Ma said.
