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Bloomberg Quint
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Xi Jinping Vows To ‘Fully Unleash’ China's Consumption Potential In Face Of Trump Tariffs
- Chinese President Xi Jinping vows to ‘fully unleash’ China's consumption potential to spur growth amid a tariff war with the US.
- Revitalizing consumption, expanding domestic demand, and enhancing investment efficiency are top priorities on China's agenda.
- Stabilizing the economy and markets in the face of US President Donald Trump's tariff onslaught is being discussed by Chinese policymakers.
- To continue economic growth, China must increase consumption by 5 to 8 percentage points as a share of GDP in the next five years.
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Medium
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Low-Risk Investment Options Some of the best investment plans carrying low risk are as follows-
- A Public Provident Fund is a government-backed investment option that provides a risk-free return.
- Money Market Funds are short-term debt funds that aim to provide good returns while maintaining liquidity.
- Municipal Bonds are debt instruments issued by municipal corporations for financing development projects.
- A Certificate of Deposit is a term deposit offered by banks without the option of premature redemption.
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Bloomberg Quint
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'Our Role Misrepresented': BookMyShow Clarifies After Kunal Kamra's Open Letter
- BookMyShow clarifies its role after Kunal Kamra's open letter.
- BookMyShow states that its role is to provide a platform for ticket sales of live shows and does not represent the views of the performers.
- BookMyShow denies restricting any artist from selling their show on their own website.
- Kunal Kamra requests BookMyShow to either not delist him or provide him with the contact information of his audience from their platform.
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Bloomberg Quint
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Finance Ministry To Meet Public Sector Bank Heads On April 17 To Discuss Performance, Schemes
- The finance ministry has called a meeting of heads of public sector banks on April 17 to review the financial performance of banks and discuss targets for flagship schemes of the government.
- The meeting will be chaired by Financial Services Secretary M Nagaraju.
- The meeting will also discuss the financial performance of banks during the previous fiscal year and set targets for financial inclusion schemes.
- Public sector banks have recorded the highest-ever net profit of Rs 1.29 lakh crore in the April-December period of the current fiscal year.
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Bloomberg Quint
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India And Portugal Strengthen Bilateral Ties In Trade, Energy
- India and Portugal have agreed to deepen bilateral ties, particularly in trade and investment, renewable energy, and connectivity.
- During the talks, the two sides also agreed to strengthen cooperation in the United Nations and other multilateral forums.
- Trade between India and Portugal is valued at $1.5 billion and has been growing steadily, with a 50% increase over the last five years.
- The visit marks the 50 years of re-establishment of diplomatic relations between the two countries.
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Bloomberg Quint
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Due To Bomb Threat, IndiGo Flight Lands Under Full Emergency Conditions In Mumbai
- A Mumbai-bound IndiGo flight from Jaipur landed in Mumbai under full emergency conditions due to a bomb threat.
- The flight landed safely at around 8.50 p.m. and the aircraft is currently parked at a remote bay as part of the security protocol, they said. The number of people on board was not immediately known.
- "Full emergency was declared for IndiGo flight 6E 5324 from Jaipur to Mumbai of April 7 due to a bomb threat," said a source.
- Without giving specifics, the source said that a note of a bomb threat to the flight was found in one of the aircraft's lavatories, after which the flight made an emergency landing.
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Bloomberg Quint
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Mutual Funds Deployment Into Equity Market Lowest Since July 2023
- Mutual funds' net investment in Indian equity market has declined to its lowest in over one-and-a-half years amid global headwinds.
- The net investment by mutual funds into the Indian equity market has significantly cooled, with the deployment coming down to Rs 13,458.85 crore in March, the lowest since July 2023.
- The previous record-low deployment was seen in July 2023, at Rs 7,707 crore. Since then, it has been over Rs 15,000 crore.
- The recent decline is likely based on the fall in the broader markets. This headwinds that were coming in from geopolitical changes and shifts had a direct impact on the markets back home as well.
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Pymnts
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Janover Raises $42 Million to Accelerate Acquisition of Digital Assets
- Janover, a platform that connects the commercial real estate industry, has raised $42 million to accelerate its acquisition of digital assets.
- The company plans to acquire digital assets in the Solana ecosystem through U.S. public markets.
- Former leaders of crypto platform Kraken have acquired majority ownership in Janover, aiming to bridge the liquidity gap between traditional finance (TradFi) and decentralized finance (DeFi).
- Janover will continue to operate its core business as a platform providing data and software subscriptions to multifamily and commercial property professionals, while transitioning to a software-as-a-service (SaaS) business model.
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Bloomberg Quint
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Stock Market Crash: Delivery-Based Selling In HDFC Bank, Infosys, RIL
- HDFC Bank, Infosys, Reliance Industries (RIL), and ICICI Bank witnessed major delivery-based selling.
- HDFC Bank recorded a delivery volume of 1.28 crore shares, with more than 65% delivery percentage.
- Infosys recorded a delivery volume of 1.39 crore shares, with more than 61% delivery percentage.
- Reliance Industries (RIL) witnessed delivery volume of 1.54 crore shares, with a delivery percentage of 65%.
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Bloomberg Quint
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SEBI Imposes Rs 7 Lakh Fine On Reliance Securities For Rule Violations
- SEBI fined Reliance Securities Rs 7 lakh for not following stockbroker rules.
- SEBI inspected Reliance Securities and found that the company provided wrong details in daily margin statements and reported incorrect ledger balances.
- Reliance Securities failed to meet risk-based supervision guidelines and improperly passed upfront margin penalties to some clients.
- SEBI imposed a fine of Rs 7 lakh on Reliance Securities for violating stock broking norms.
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Pymnts
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Alphabet-Backed Pennylane Raises $82 Million to Expand Accounting Platform Across Europe
- Pennylane, a French accounting platform, has raised 75 million euros (about $82 million) in funding.
- The company aims to expand its platform across Continental Europe and has already seen significant growth, tripling its user base in the past year.
- Pennylane's solution is used by 4,500 accounting firms and 350,000 companies, with support from 60 reseller integrators.
- The funding round was co-led by Meritech Capital, CapitalG, and Sequoia Capital, with the goal of transforming financial management for small businesses and accountants.
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Bloomberg Quint
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Coffee Day Enterprises Reports Rs 425.38 Crore Loan Default Amid Liquidity Crisis
- Coffee Day Enterprises Ltd. has reported a total default of Rs 425.38 crore on payments of interest and repayment of principal amount on loans.
- The default includes a default of Rs 174.83 crore on the payment of the principal amount on loans or revolving facilities from banks or financial institutions as of March 31, 2025.
- In addition, there is a default of Rs 5.78 crore on the payment of interest and a default of Rs 200 crore on unlisted debt securities such as non-convertible debentures and redeemable preference shares.
- CDEL attributes the delay in debt servicing to a liquidity crisis and has not recognized any interest from April 2021 due to loan recall notices and pending legal disputes.
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Eu-Startups
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Miss Moneypenny Technologies raises €7 million for its SaaS Wallet Studio platform
- Berlin-based Miss Moneypenny Technologies has raised €7.3 million in a Seed round to support its global growth strategy and market expansion.
- The funding round was led by Earlybird, with b2venture also participating.
- Miss Moneypenny Technologies' SaaS Wallet Studio platform transforms wallet cards into intelligent access points, enabling businesses to enhance customer engagement.
- Wallet Studio has already been adopted by global companies like HDI, SIXT, and Zurich Insurance, and has reportedly achieved high engagement rates.
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Bloomberg Quint
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India Working On Military Space Doctrine, Says Chief Of Defence Staff
- India is working on a 'military space doctrine' to be released in two to three months, according to Chief of Defence Staff General Anil Chauhan.
- Emphasizing the importance of space in warfare, Chauhan highlighted the Defence Space Agency's endeavors to protect India's interests in outer space.
- The government has approved a 52-satellite constellation for defense purposes, with 31 satellites to be built by the private sector.
- The Defence Space Agency is developing an integrated satellite communication grid to enhance capabilities and prepare for the future.
- Chauhan stressed the need for space capabilities to counter evolving threats posed by adversaries' advancements in aerospace technologies.
- The discussion at the Indian DefSpace Symposium focused on fostering a 'space culture' through research, doctrine development, and strategic planning.
- Former IAF chief V R Chaudhari highlighted the growing significance of space assets and the inevitability of militarization of space.
- Chaudhari warned that the escalating arms race in space could become a strategic imperative, urging India to remain vigilant.
- Developing space capabilities and institutions for space warfare education were underscored as crucial steps for India's space strategy.
- The symposium emphasized the critical role of space in modern warfare, necessitating a proactive approach in developing space-based defense systems.
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Bloomberg Quint
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Cordelia Cruises Expands Fleet With Norwegian Sky And Sun Acquisition
- Cruise line Cordelia Cruises has signed an agreement with Norwegian Cruise Line Holdings for the transfer of Norwegian Sky and Norwegian Sun to its fleet.
- Cordelia Cruises will more than double its current capacity and broaden its experiences with the addition of Norwegian Sky and Norwegian Sun.
- The two new ships are capable of accommodating around 2,000 guests and 900 crew members, and will allow Cordelia Cruises to reach more ports and offer longer itineraries.
- Deployment timelines and destinations for the two new ships are yet to be announced.
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