Sun.May 26, 2024

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A Day in the Life: Florian Winterstein from Jedox

Future CFO

Editor's note: While travel—an important part of many business leaders' typical work routines—has allowed Florian Winterstein (pictured), CEO of Jedox, to learn how to succeed in other cultural settings, he shares with FutureCFO audiences in today's A Day in the Life interview how his experiences and interests outside work also inspire his professional growth.

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Greater transparency: No indemnity clause in NPA sale pact between banks and ARCs

CFO News

High-street banks and stressed asset firms in Mumbai adopted a 'model agreement' for selling loans but couldn't agree on 'indemnity'. Lenders can declare an account 'fraud' post-sale to ARCs. The industry body approved the Model Assignment Agreement and Model Trust Deed for adoption by banks, financial institutions, finance companies, and ARCs.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Realtors Are in Crisis—and Home Buyers Could Be the Winners : A wave of lawsuits over fees paid to agents has put the giant trade association on the defense; ‘it got arrogant’ ( Wall Street Journal ) see also Powerful Realtor Group Agrees to Slash Commissions to Settle Lawsuits : The National Association of Realtors will pay $418 million in damages and will amend several rules that housing experts say wil

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Polycab to recalibrate guidance, plans Rs 1,000-crore annual investment for next three years, says CFO Gandharv Tongia

CFO News

Polycab India, with CFO Gandharv Tongia at the helm, aims to surpass revenue targets amid soaring demand in railways, highways, and real estate. Discover their plans for massive investments and export growth.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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1,003: Beyond Borders—Navigating an International Career | Robert Cornella, CFO, RNDC

CFO Thought Leader

Robert Cornella’s path to the CFO office at Republic National Distributing Company (RNDC) wasn’t meticulously planned; it was shaped by pivotal moments and unexpected opportunities. A significant milestone arrived with his appointment as CFO of Coca-Cola Germany, a defining chapter in his career. Before his tenure in Germany, Cornella had already achieved several notable accomplishments.

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Ecommerce fails to click for firms in Q4 as sales dip across segments

CFO News

Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.

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Electronics companies seek Rs 35,000-crore incentive plan for components

CFO News

"The incentive scheme is needed to support growing demand for electronics components to the tune of $75-$80 billion by 2026, and $300 billion by 2032 to support $300 billion worth of electronics products manufacturing by 2026 and $1.2 trillion by 2032," the India Cellular & Electronics Association (ICEA), which represents top smartphone brands and manufacturing companies, said.

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Now, relief from full disclosure won't be easy for pooled FPIs

CFO News

This was communicated by the Securities & Exchange Board of India (Sebi) to custodians of offshore funds, two persons aware of the regulatory changes told ET. Custodians are banks and non-bank institutions holding cash and securities on behalf of FPIs.

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RIL's Mukesh Ambani set for African safari with 5G tech solutions

CFO News

Radisys, a company owned by RIL's subsidiary Jio Platforms Ltd (JPL), is collaborating with Tech Mahindra and Finland's Nokia, to team up with Next-Gen Infrastructure Co. (NGIC). NGIC, in which the Ghanaian government, Ascend Digital, and K-Net have equity stakes, is positioned as the first neutral 5G shared infrastructure provider in Africa. The company's initial focus will be on offering 4G and 5G network support in Ghana before expanding its services across the continent.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Big electoral bond buyer Megha Engineering to sell city gas business

CFO News

Megha City Gas Distribution (MCGDPL), a wholly-owned subsidiary, has decided to consolidate operations and reached out to state-run Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Indraprastha Gas, among other players. It ventured into city gas distribution under the brand name Megha Gas in 2015 and continued to operate as MEIL till FY22.

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Sauce VC launches third fund eyeing a corpus of Rs 250 crore

CFO News

New Delhi-based investment firm Sauce VC, which has backed new-age luggage brand Mokobara, healthy foods startup The Whole Truth and petcare firm Supertails, aims to raise Rs 250 crore for its third fund. This comes as D2C firms see growing interest from risk capital investors. The firm looks to back 15-16 consumer brands in their early stages.

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Sebi cracks down on gaming apps involved in virtual trading

CFO News

The Securities and Exchange Board of India (Sebi) has asked exchanges and depositories not to share real-time price data with third parties in a move aimed at quashing such activities.

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Adda247 logs 88% jump in revenue to Rs 243 crore

CFO News

Google-backed edtech startup Adda247 saw strong growth in FY24, with revenue nearly doubling to Rs 243.39 crore from Rs 129.65 crore in the previous year. They also made significant progress on profitability, slashing their net loss by two-thirds to Rs 101 crore, down from Rs 296 crore in FY23.

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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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South African regulator fines SBI's branch

CFO News

The bank informed the stock exchange that the financial penalty consists of an immediately payable portion of 5.50 million rand, which the SBI branch in South Africa has already paid. The remaining 4.50 million rand is suspended for 36 months, contingent on compliance within this period.

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NFRA to engage with some big listed companies on audit compliance

CFO News

The regulatory outreach could involve the NFRA's engagement with audit panels, independent directors, chief financial officers and others on the boards of these companies, said one of the persons. The regulator is close to finalising a framework to hold such huddles and may invite listed companies, where large public interest is involved, for such meetings, according to another person.

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NCLT admits Srei's insolvency plea against Supreme Infrastructure BOT

CFO News

The National Company Law Tribunal (NCLT) has accepted Srei Infrastructure Finance's request to commence a corporate insolvency resolution process (CIRP) against Supreme Infrastructure BOT due to its failure to repay a loan. Srei Infrastructure Finance had provided a term loan of Rs 150 crore to Supreme Infrastructure BOT for a duration of five years, earmarked for infrastructure projects.

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India's Q4 FY24 GDP likely to have grown at 6.1-6.7 pc: Economists

CFO News

India's GDP growth in the fourth quarter of FY 2023-24 is expected to be between 6.1-6.7%, lower than the previous three quarters. Economists project a growth rate of 7.6-7.8% for the fiscal year, with various projections and insights.

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

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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India's GDP is USD 3.95 trillion, says Union Minister Hardeep Singh Puri

CFO News

While speaking in Chandigarh on Sunday, Puri said, "As per the public data released by IMF, our GDP is USD 3.95 trillion, and we are in the fifth position. Japan is in the fourth position with a GDP of USD 4.1 trillion. If our growth rate is going on at 7-8 percent and Japan's is flat, it's a matter of a few months, if not a year, and our economy will reach fourth place.

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WIPO treaty a big win for India & global south: Commerce ministry

CFO News

India and the Global South celebrate a significant win with the WIPO treaty on intellectual property, genetic resources, and traditional knowledge. The treaty introduces a new disclosure requirement for patent applicants based on genetic resources, providing added protection to Indian resources and knowledge in countries without disclosure obligations.

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