Sun.Oct 20, 2024

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BNY, Mizuho Announce Partnership On Trade Services

Global Finance

BNY and Mizuho Bank, the oldest banks in the US and Japan, respectively, announced on Sunday an agreement to expand their correspondent bank network to help facilitate international trade. Powered by BNY’s Trade Network Access Service, the agreement allows both banks to access each other’s Relationship Management Applications (RMAs). “We were hearing from some of our clients, who have limited infrastructure, but were having to process a single Letter of Credit once every three years for a certai

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ICAI lacks authority on audit standards; MCA can nullify SQMs if not issued as per laws, says ex-NFRA chief Rangachari Sridharan

CFO News

As ICAI introduces new Standards of Quality Management (SQM), questions arise regarding its legitimacy and adherence to established protocols. Rangachari Sridharan, the former chief of the NFRA, asserts that legally valid auditing standards can only be issued by MCA, a position that challenges the ICAI's recent unilateral actions.

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Sibos Conference Opens In China For First Time

Global Finance

To coincide with the Year of the Dragon, Sibos, SWIFT’s annual financial services conference, exhibition and networking event, is being held in China for the first time. In moving to Beijing from Toronto, SWIFT hopes to enhance its position as a global provider of secure financial messaging services, since the city is home to most of China’s biggest companies and the largest number of Fortune Global 500 companies in the world.

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What about Thursday’s auction of a new 5-year TIPS?

Tips Watch

Real yields are holding up, but the curve is widening. By David Enna, Tipswatch.com The October auction of a new 5-year Treasury Inflation-Protected Security is always a baffler.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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BNY, Mizuho Announce Partnership On Trade Services

Global Finance

BNY and Mizuho Bank, the oldest banks in the US and Japan, respectively, announced on Sunday an agreement to expand their correspondent bank network to help facilitate international trade. Powered by BNY’s Trade Network Access Service, the agreement allows both banks to access each other’s Relationship Management Applications (RMAs). “We were hearing from some of our clients, who have limited infrastructure, but were having to process a single Letter of Credit once every three years for a certai

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Sibos Conference Opens In China For First Time

Global Finance

To coincide with the Year of the Dragon, Sibos, SWIFT’s annual financial services conference, exhibition and networking event, is being held in China for the first time. In moving to Beijing from Toronto, SWIFT hopes to enhance its position as a global provider of secure financial messaging services, since the city is home to most of China’s biggest companies and the largest number of Fortune Global 500 companies in the world.

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Tatas, Adani & other top companies confront talent crunch in India’s renewable energy sector

CFO News

Data from TeamLease Degree Apprenticeship shows that the sector as a whole-consisting of solar, wind, hydro, battery storage-is estimated to create 1.7 million jobs, direct and indirect, in the next three years as several companies are looking to ramp up workforce. About 30-35 per cent of these will be direct jobs and the rest, indirect.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption, and policy failures: • You Can’t Make Friends With The Rockstars : I am tired of hearing about Mark Zuckerberg’s “new look,” in part because I don’t care about it, and in part because I see it as yet another blatant — and successful — attempt to divert attention from the outright decay of the platforms he runs. ( Where’s Your Ed At ) • The New York Times’ first article in 1922 about Hit

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Technology advancements, geopolitical conflicts among top risks for India Inc in next 5 years: Report

CFO News

Amid India's evolving risk landscape, a report by TATA AIG and Dun & Bradstreet reveals businesses are prioritizing technological, legal, and geopolitical risks. Concerns span data privacy, environmental regulations, and economic fluctuations, underscoring the need for robust risk mitigation and business continuity strategies.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Shift from agriculture to manufacturing must for India's growth: Amitabh Kant

CFO News

"Our manufacturing has to grow by 16 times. It has to fire on all cylinders. We have to become a manufacturing nation," Kant told IANS at the Kasauli Literary Festival.

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Private firm's 3 directors convicted for not following SEBI rules, defrauding investors

CFO News

A court here has convicted a private company and its three directors in an over 23-year-old case under the SEBI Act and Collective Investment Scheme (CIS) regulations, saying they trapped innocent people by promising them unrealistic returns.

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GoM proposes to raise GST on luxury shoes, watches, aims revenue boost by Rs 22,000 cr

CFO News

In a significant development, the Group of Ministers (GoM) on Saturday agreed upon some Goods and Services Tax (GST) rate revisions that are likely to bring in an additional Rs 22,000 crore revenue.

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ONGC, BPCL eye international partner for new refineries

CFO News

ONGC and BPCL are negotiating with Saudi Aramco to partner in setting up new petroleum refineries in India. BPCL plans to build a refinery in Andhra Pradesh, while ONGC is considering locations in Gujarat or Uttar Pradesh. Engineers India is preparing a pre-feasibility study for the projects, which will require significant international investment.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Approval delays for RCap buy keep Hinduja Group on edge

CFO News

The acquisition, approved by Reliance Capital's creditors more than a year ago and by the National Company Law Tribunal (NCLT) in February this year, is now held up pending key regulatory approvals from the Reserve Bank of India (RBI), department for promotion of industry and internal trade (DPIIT) and the Insurance Regulatory and Development Authority of India (Irdai) among others, multiple people aware of the matter told ET.

Banking 40
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FPIs pull out Rs 23,274 crore from financial services in 15 days

CFO News

Financial services bore the biggest brunt of foreign selling, with investors pulling ₹23,274 crore out of these shares after buying a similar amount in September. From January to September, overseas investors sold ₹37,732 crore in the sector.

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Finance Minister Nirmala Sitharaman lands in US after concluding Mexico visit

CFO News

India's Ambassador to the United States, Vinay Mohan Kwatra, and Consul General of India in New York, Binaya Srikanta Pradhan, welcomed Sitharaman, following her arrival from Mexico City.

Finance 40
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Hackers target India’s biggest brands: How major firms like Tata and Reliance are strengthening cyber defences

CFO News

A manifold jump in cyberattacks in the past year, and the rise of generative artificial intelligence (Gen AI), leading to greater threat perception amid escalating social engineering and phishing attacks, is prompting companies to undertake regular review of risk factors and cyber preparedness, said industry insiders.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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This holiday season, companies turn over a new 'leave', give more Diwali offs

CFO News

Indian companies are enhancing work-life balance with extended breaks during Diwali, flexible work options, and more floating leaves. Companies like Deloitte, Meesho, and Myntra give employees additional days off to rejuvenate and spend quality time with family, fostering employee wellness and satisfaction.

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Make the GST list shorter, not longer

CFO News

A GST panel recommends moving more goods to the 28% luxury slab to simplify mid-range categories and merge 12% and 18% slabs. Focus on exempting fewer items, like petroleum, to improve GST efficiency and enhance progressive taxation, aligning with the nation’s economic objectives.

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Big Four affiliates catch the poll fever again, line up for ICAI posts

CFO News

After a break, partners from Big Four affiliates are engaging in ICAI elections due to a more assertive ICAI, changing audit rules, and recent disciplinary actions. Key candidates include PwC's Abdul Majeed and Deloitte's Nandkishore Hegde. The elections aim to bolster their representation amid growing NFRA influence and stricter international networking guidelines.

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India companion during difficult times, takes lead in giving direction to global future: PM Modi

CFO News

Speaking about Artificial Intelligence PM Modi said India is powered by two AIs, the second AI that of Artificial Intelligence.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng