Author: TI Editor

(Bloomberg Opinion) — Adrian Orr, who until a few days ago led the Reserve Bank of New Zealand, once declared it the most transparent monetary authority in the world. That his sudden resignation midway through his term is shrouded in mystery is ironic — but not entirely out of keeping.  Orr was a central banker who jealously guarded his autonomy. He could’ve been more sensitive to optics or framed his answers with a touch more finesse. The nation paid a steep price for the aggressive interest-rate increases of the past few years, enduring a deeper-than-expected recession. Orr left few people in any doubt…

(Bloomberg) — After more than 13 years at the helm BNP Paribas SA, Jean-Laurent Bonnafe isn’t quite done yet. With less than two years before the chief executive officer reaches retirement age, BNP Paribas is asking shareholders to raise the age limit for his role and give him a new three-year board term. Approval at the shareholder meeting in May would open the door for the 63 year-old to stay on until 2028, and perhaps longer. Already one of Europe’s longest-serving bank CEOs, Bonnafe built up the trading business and propelled the asset management unit into the top ranks with…

(Bloomberg) — A shareholder in Japan’s Seven & i Holdings Co. is pressuring the company to engage “more deeply” with Alimentation Couche-Tard Inc. over its $47.5 billion buyout approach. “The Board has taken several decisions that leave significant unanswered questions,” Artisan Partners Asset Management Inc.’s portfolio managers N. David Samra and Benjamin L. Herrick said in a letter to Seven & i’s board on Sunday. The money manager owns stakes of roughly 1% in both the company and Couche-Tard, according to data compiled by Bloomberg. “Those questions revolve around potential conflicts of interest and failure to pursue the path that…

(Bloomberg) — Four years after his resignation from Barclays Plc, Jes Staley will finally give his account of the events that ended his career — in the hopes of overturning a lifetime ban from the finance industry.  Staley has sat quietly in a windowless London court room for the past week, occasionally sipping from a can of Diet Coke as his closest former colleagues described how his friendship with Jeffrey Epstein led to his fall from the summit of global banking. On Tuesday, the 68-year-old former chief executive officer is scheduled to take the stand as part of the legal…

BERLIN (AP) — Flight cancellations at Hamburg Airport after a surprise strike by workers affected more than 40,000 passengers on Sunday, a day before a planned wider protest across Germany amid new contract negotiations. Only 10 of more than 280 scheduled flights went as planned early Sunday, the airport said. Many service desks sat empty as would-be passengers lined up to seek information about the cancellations. One big electronic departure board overhead had “canceled” in red next to the list of all flights. The surprise walkout, which reportedly took place with only about a half-hour advance notice, came before a…

New Delhi: The National Bank for Financing Infrastructure and Development (NaBFID) is in advanced talks with the World Bank to help reduce the cost of financing infrastructure projects, a top official said.The two entities will share credit risk and enhance ratings of corporate bond offerings. The collaboration will leverage credit enhancement facilities to boost creditworthiness and lower borrowing costs for infrastructure firms.“We are talking to the World Bank to share a portion of credit risk associated with our partial credit enhancement (PCE) facility for the infrastructure sector. We have the mandate to guarantee up to 20% of corporate bonds that…

“We have a very strong pipeline of hotels. New constructions are important because they help us build the reputation of the brand, and there is a focus on quality over quantity, and we will be moving away from being known primarily as a “conversion” hotel brand here,” Cuculic said. The company, which has 32 hotels in India, Bangladesh, and Sri Lanka combined, operates in partnership with Delhi-based Sorrel Hospitality Pvt. Ltd, which it signed on in 2016 when the company had about seven hotels here.  Read more: Lemon Tree Hotels stock trades at a discount, but is the juice worth…

Here is a look at how equity and debt categories of NPS schemes have performed over time versus the respective benchmark indices. Past performanceA three-year rolling return analysis of NPS equity schemes — with at least a 10-year track record – showed average returns of 13.5%. Net asset value (NAV) history from 28 February 2015 to 28 February 2025 was considered, with the first three-year return observed on 28 February 2018. In this analysis, returns were rolled daily starting from 28 February 2018. There were 1,699 observations, with calculations based on the historical NAV data sourced from npstrust.org.in. Five NPS…

Kolkata, Mar 9 (PTI) A priest of the Jagannath Temple in Puri on Sunday said he is setting up a 300-room luxury resort with a strong spiritual focus in the holy town. The beachside project would be a pure vegetarian and non-liquor retreat, aiming to offer a “satvik” experience to pilgrims and travellers seeking spiritual serenity with modern comforts, the priest said in a press conference here. The current valuation is ₹200 crore, an official from his team said. “Puri is not just a destination. It is a sacred abode where divinity meets the ocean. The resort will offer a…

Benchmark indices – Nifty50 and BSE Sensex — have witnessed a significant fall in the past few months. From its peak of 26,277 points in September, Nifty50 is currently trading 14 percent down after it pared some of its losses last week.Since Nifty50 comprises large cap companies, this fall is quite noteworthy in large cap mutual funds as well wherein exposure to large cap stocks is 80 percent or more.Here, we examine if there are still some large cap mutual funds which delivered positive returns in the past one year. For the unversed large cap mutual funds refer to the…