Latest news with #financialYear
Reuters
09-07-2025
- Business
- Reuters
Indian state-owned banks to raise $5.25 billion in 2025-26 via QIP, source says
July 9 (Reuters) - Indian state-owned banks will raise around 450 billion rupees ($5.25 billion) through qualified institutional placement (QIP) of shares in the 2025-26 financial year, a government source told reporters on Wednesday. State Bank of India ( opens new tab, the country's biggest lender by assets, will launch its QIP soon, the source said. The bank had in May approved raising 250 billion rupees in equity capital this year. The government will also complete its stake sale in IDBI Bank by October and also plans to sell shares in UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank in the financial year, the source added. Prime Minister Narendra Modi's government laid out plans in this year's budget to raise 470 billion rupees through stake sales and asset monetisation. India's finance ministry and SBI did not immediately respond to Reuters requests for comment outside office hours. ($1 = 85.6900 Indian rupees)
CNA
09-07-2025
- Business
- CNA
Temasek's net portfolio value soars to record high of S$434b
Strong performance in Singapore, China, the US and India helped Singapore state investor Temasek achieve a record net portfolio value of S$434 billion for the financial year ending Mar 31. This represents an increase of S$45 billion from the previous year. CNA's Nadirah Zaidi joins us in the studio to discuss Temasek's 2025 review. She talks about how Temasek is responding to geopolitical challenges and how the portfolio is structured to build resilience and diversification.
Yahoo
03-07-2025
- Business
- Yahoo
Superannuation 'red alert' for millions as $1 billion in retirement savings feared lost
Australians are being urged to watch out for rogue superannuation schemes following fears tens of thousands of people have lost more than $1 billion in retirement savings. The corporate watchdog ASIC says there are some 'big red flags' people should be alert to. ASIC deputy chair Sarah Court said the start of a new financial year was often a trigger for people to check their super fund's performance. It also provided an opportunity for promoters to try and pressure people into changing their super into a new fund. Aussies have been warned to be on 'red alert' for high-pressure sales tactics, clickbait advertising and promises of unrealistic returns to encourage you to switch your super into risky investments. RELATED Aussie set to retire in 40s with $1.6 million after 'aggressive' superannuation move Woolworths payment change hits dozens of supermarkets today Aussie earning $300,000 a year in job after completing three day course 'When it comes to sales calls about super switching, there are some big red flags people should be alert to — being asked to make a quick decision is one of the most obvious. Remember, a good deal won't vanish overnight,' Court said. 'The initial salespeople can be very persuasive, often the underlying schemes are complex or not made clear to the consumer, and it may be very difficult for even experienced investors to spot problems. Once you start on the path it can be hard to get off.' Court said the calls didn't have the hallmarks of a typical scam, with the caller often seemingly having your best interests at heart and offering to find you a better product or find lost super for free. "They may also involve referrals to financial advisers during the call to create a sense of comfort and legitimacy,' she said. Court has urged people to ask call centre operators what commissions they were earning to encourage investors to switch, who the operator worked for and who managed the fund. 'If you are unsure or are feeling pressured, just hang up,' she advised. ASIC has provided this list of red flags: High pressure sales tactics Cold calls Touting free super 'health checks' and prizes, often through social media or website ads Offering to find and consolidate 'lost super' for free Involvement of unlicensed people in advice process Engagement over the phone with limited client contact with a financial adviser Poor or no product disclosure Promises of high or unrealistic returns People are being encouraged to get independent financial advice. Aussies looking to find lost super and consolidate their accounts can do this for free through the Australian Taxation Office (ATO) via in retrieving data Sign in to access your portfolio Error in retrieving data
News.com.au
11-06-2025
- Automotive
- News.com.au
Best EOFY 2025 sports & performance car sales in Australia
The definition of a discretionary purchase, sports and performance cars aren't always subject to sharp deals. There aren't huge cash discounts on sports and performance cars as part of end of financial year sales in 2024. But there are a handful of promotions worth considering if you look around. SPORTS AND PERFORMANCE CARS Cupra Formentor: OK, so you might not have heard of this one, but it's a cracker. A Spanish cousin to the VW Tiguan R and Audi S3, it combines Lambo-inspired looks with a turbo engine and all-wheel-drive traction for a cracking $61,990 drive-away – that's a discount of about $8000. Mercedes-AMG: There are deals to be done on the Mercedes-AMG A35 hot hatch, which benefits from three years of free servicing (worth $3560) and a $5000 deposit contribution when financed through 'Benz. Volkswagen: VW is offering drive-away pricing on a range of performance cars including the polo GTI ($42,990), Golf GTI ($59,990) and T-Roc R ($65,990). Subaru WRX: A modern icon, the all-wheel-drive Subaru WRX can be had with 3.99 per cent finance, though you'll need to have 15 per cent of its price ready as a deposit – that's $10,000 on higher grades.
Reuters
05-06-2025
- Business
- Reuters
Ethiopia's cabinet approves 31% budget increase for 2025/26
ADDIS ABABA, June 5 (Reuters) - Ethiopia's cabinet has approved a nearly 2 trillion birr ($15 billion) budget for the 2025/26 financial year starting in July, a 31% increase from the previous year, the Prime Minister's office said on Thursday. The East African nation, which struck a four-year deal with the International Monetary Fund last July, is in the midst of far-reaching economic reforms, including the floatation of its birr currency and a push to restructure its debt. Last week Ethiopia and the IMF reached a staff-level agreement on the third review of the $3.4 billion loan programme from the lender. The 2025/26 budget will support national security, increase production and productivity, and help people affected by disasters, the prime minister's office said in a statement, adding that it will be sent to the parliament for approval. In June last year, Ethiopia set spending for 2024/25 at 971.2 billion birr, and in November said it planned to spend a further 581.98 billion birr to help subsidise costs of fertiliser, oil, fuel, and medicine. ($1 = 133.8803 birr)
