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<keyword id="19956271" type="General" weightage="20" keywordseo="Ola-Electric-Mobility" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric Mobility" meta.hostid="261" meta.entityid="Ola Electric Mobility">Ola Electric Mobility</keyword> on Wednesday reported a higher consolidated loss of Rs 347 crore for the April-June quarter compared to the year-ago period. The company's losses in the April-June period of 2023 were Rs 267 crore, according to an exchange filing. Revenue from operations for the quarter under review was Rs 1,644 crore against Rs 1,243 crore in the same quarter of the previous fiscal, according to the filing. The Bengaluru-based firm said its total expenses during the first quarter grew to Rs 1,849 crore compared with Rs 1,461 crore in the June quarter of FY24. The company made its market debut earlier this month. The company in a statement said its automotive segment (E2W) posted a strong improvement in EBITDA (earnings before interest, tax, depreciation and amortization) margin and is close to EBITDA breakeven. The quarter witnessed the highest-ever deliveries of vehicles by the company at 1,25,198 units as against 70,575 units delivered in the same period last year, <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> Mobility said. The company also said it ramped up deliveries of its mass-market scooter portfolio (S1 X portfolio) during the quarter which helped accelerate the growth, adding that the existing product portfolio also saw strong demand which continued growth momentum throughout the quarter. According to Ola, the increasing scale of operations has benefited the company in the form of lower manufacturing costs and supply chain optimization. These benefits of scale are further amplified by the company's scalable platform-based product development and manufacturing technology that results in high degrees of commonality across its products, it said. The company also announced on Wednesday the integration of its cells in its vehicles by the first quarter of next fiscal. Ola said it will launch its electric motorcycle portfolio across mass and premium segments during its annual flagship event on August 15, 2024. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Ola Electric Mobility losses widen to ₹347 crore in Apr-Jun quarter

As <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19916774" type="General" weightage="100" keywordseo="exports" source="keywords">exports</keyword> in the first quarter of 2024-25 (April-June) crossed the $200 billion mark, the government has expressed its optimism about reaching its full-year target of $800 billion. "We are quite optimistic and it gives us optimism that we'd be crossing our <keyword id="19944038" type="General" weightage="20" keywordseo="USD" source="keywords">USD</keyword> 800 billion of trade this year," Commerce Secretary Sunil Barthwal said on Monday while releasing India's trade data for June. India's overall exports, merchandise and services combined in the month of June were to the tune of $65.47 billion, a 5.4% rise on a yearly basis, commerce ministry data showed. Same month last year it was at $62.12 billion. In break up, <keyword id="22419320" type="General" weightage="20" keywordseo="exports-of-merchandise-goods" source="Orion">exports of merchandise goods</keyword> rose from $34.32 billion to $35.20 billion, and exports of services rose from $27.79 to $30.27 billion. In May, merchandise and services exports combined were to the tune of $68.29 billion, a 10.2% rise on a yearly basis. The country's <keyword id="19933566" type="General" weightage="20" keywordseo="imports" source="keywords">imports</keyword> too increased year-on-year in June, data showed today. The same was the case in May. The overall imports, both merchandise and services combined, increased from $69.12 billion to $73.47 billion, a rise of about 6.3%, in June. In the recently concluded financial year 2023-24, India registered record exports at $778 billion. In 2022-23, the country exported goods and services combined at $776.3 billion. In break up, services exports rose from $325.3 billion to $341.1 billion in 2023-24. Merchandise exports though marginally declined from $451.1 billion to $437.1 billion. Among various steps the government took was to launch a <keyword id="8870884" type="General" weightage="20" keywordseo="Production-Linked-Incentive" source="Orion">Production Linked Incentive</keyword> (PLI) scheme in varied sectors, including electronic goods, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. These seemed to have reaped dividends. China, Russia, Iraq, <keyword id="19908927" type="General" weightage="20" keywordseo="uae" source="keywords">UAE</keyword>, and Singapore were among the countries where India's exports in the just-concluded financial year have risen substantially, though with a low base. The other countries in the Top 10 list are the UK, Australia, Saudi Arabia, the Netherlands, and <keyword id="19899437" type="General" weightage="20" keywordseo="south-africa" source="keywords">South Africa</keyword>. Overall imports declined from $898.0 billion in 2022-23 to $853.8 billion. Both merchandise and services exports declined during the financial year. Overall trade deficit significantly improved from $121.6 billion in 2022-23 to $75.6 billion in 2023-24.

India's Apr-Jun quarter exports cross $200 bln, government optimistic of reaching  $800 bln annual target

Strong demand for <keyword id="17408" type="General" weightage="20" keywordseo="infrastructure" source="Orion">infrastructure</keyword> investment, attractive returns, and favourable government policies have pushed fund mobilization through listed <keyword id="11931834" type="General" weightage="20" keywordseo="reits" source="Orion">REITs</keyword> and <keyword id="6425787" type="General" weightage="20" keywordseo="invits" source="Orion">InvITs</keyword> to Rs 18,658 crore in the April-September period of the current fiscal. This came following a fund collection of Rs 2,596 crore through listed Infrastructure Investment Trusts (InvITs) in the entire 2022-23, although the amount mopped up through listed <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real Estate</keyword> Investment Trusts (REITs) was nil, data with the Securities and Exchange Board of India (<keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">Sebi</keyword>) showed. Going forward, experts believe that trends seen in REITs and InvITs will continue in the second half of the year too. "The fresh savings will continue similarly as has happened in the last six months, and the investments will continue to be towards InvITs as both the central government and the state governments continue to focus more on infrastructure development," Himanshu Kohli, Co-founder of Client Associates, said. Hence, the trends you have seen in REITs and InvITs will continue in the second half of the year, he said. According to Sebi data, Rs 18,658 crore was collected through these emerging investment vehicles in the April-September period of 2023-24. This comprises Rs 12,753 crore through InvITs and the remaining Rs 5,905 crore via REITs. Karan Shetty, Co-Founder of Claravest, a fractional ownership real estate investment platform, attributed several factors for the massive jump in fundraising through the route to favourable government policies, huge demand for investment in real estate, and the government's focus on urbanisation and infrastructure development. Additionally, other reasons for the surge in fund collection could be regular income provided by REITs and InvITs as these trusts are required to distribute 90 per cent of their income to investors regularly, gives diversification benefit, provides liquidity benefits as the units trade on stock exchanges and increased awareness and investor interest about the instruments, Feroze Azeez, Deputy CEO, Anand Rathi Wealth, said. Moreover, the government and the capital markets regulator Sebi have played an active role in popularising and promoting REITs and InvITs in India. Of the Rs 18,658 crore investment, Rs 12,753 crore was invested through InvITs, and the remaining Rs 5,905 crore via REITs. InvITs have been more popular than REITs in terms of fundraising, due to several factors as InvITs can invest in a wider range of assets than REITs, including roads, highways, bridges, railways, power transmission lines, renewable energy projects, and gas pipelines. Besides, InvITs are exempt from paying income tax at the trust level, which makes them more attractive to investors, Azeez said. "Further, the infrastructure sector in India is expected to grow significantly in the coming years, which is likely to drive the growth of InvITs," he added. REITs and InvITs are relatively new investment instruments in the Indian context but are extremely popular in global markets for passive income investors due to attractive yields and capital appreciation. While a REIT comprises a portfolio of commercial real assets, a major portion of which is already leased out, InvITs consist of a portfolio of infrastructure assets such as highways, and power transmission assets. InvITs and REITs help infrastructure developers monetise their assets and redeploy the capital into upcoming projects. However, these instruments are comparatively new to Indian investors with only four registered REITs and 22 registered InvITs, as of August 8, 2023, Sebi data showed. The value of mutual fund exposure to REITs and InvITs stood at Rs 8,416 crore as of September 30, 2023.

REITs,  InvITs collect Rs 18,658 cr in Apr-Sep on robust infra demand, attractive returns

New Delhi, Realty firm <keyword id="3606282" type="General" weightage="20" keywordseo="Signature-Global" source="Orion">Signature Global</keyword> on Thursday reported a consolidated net loss of Rs 7.18 crore for the first quarter of this fiscal year on higher expenses. Gurugram-based Signature Global had logged a net profit of Rs 32.78 crore in the year-ago period, according to a regulatory filing. Total income also declined to Rs 178.9 crore in April-June 2023-24 from Rs 559.01 crore in the corresponding period of the previous year. This is the first quarterly result announced by the company after getting listed on stock exchanges recently. Last month, Signature Global successfully launched its Initial Public Offer (IPO). The total size of the IPO was Rs 730 crore, with a fresh issue of shares worth Rs 603 crore and an offer-for-sale (OFS) of Rs 127 crore. The public issue was subscribed 11.88 times.

Signature Global posts Rs 7.18 cr net loss for Apr-Jun quarter 2023

New Delhi, Co-working major <keyword id="4052133" type="General" weightage="20" keywordseo="Wework-India" source="Orion">WeWork India</keyword>'s revenue grew by 40 per cent to Rs 400 crore during the first quarter of this fiscal year on rising demand for flexible workspace across major cities from corporates, its CEO Karan Virwani said. The company, which is owned by real estate firm Embassy Group and <keyword id="2918346" type="General" weightage="20" keywordseo="Wework" source="Orion">WeWork</keyword> Global, has started its 50th centre at Saket in South Delhi, marking its entry into the national capital market. The new centre, comprising 54,000 square feet area and around 700 desks, is located in a commercial building developed by realty firm Eldeco. In an interview with PTI, Virwani said the company has completed six years since it opened the first centre in India and now it has 50 centres and around 90,000 desks across seven cities. "It has been a great journey of growing both the co-working/flexible workspace segment and WeWork India as a brand. In the last three years, since COVID, the adoption of flex space growing significantly," he said. The demand is increasing as more and more employees are coming back to offices, Virwani said, adding that the country's economic growth is also supporting demand. "In 2021-22, we close the financial year with around Rs 800 crore of revenue and we were negative Rs 50 crore EBIDTA (Earning Before Interest, Depreciation, Tax and Amortisation). During the last fiscal, we achieved a turnover of around Rs 1,400 crore and Rs 250 crore of EBIDTA," Virwani said. The company was profitable at the post-tax level also during the last fiscal year, he said. Virwani hoped that the company would maintain growth during the current fiscal. In the first quarter of 2023-24, Virwani said the company has posted a revenue of Rs 400 crore, up 40 per cent from the year-ago period. The EBIDTA was about Rs 70 crore. "We are targeting 50 per cent growth in this full fiscal year," he added. On the operational front, Virwani said the average occupancy level at its centres is at around 80 per cent and the company would target to increase it further. He said that a lot of new demand is coming from the existing clients. "The past few years have clearly highlighted that the future of work is flexible, and India Inc is increasingly adopting flex working as a way of life". Asked about US-based WeWork Global's recent statement that "substantial doubt" exists about the company's ability to continue as a going concern, Virwani said WeWork India business will have no impact from the development globally. "We have always been a separate entity where the majority anyway is owned by Embassy Group. We have run and build the India business in an extremely healthy way. So, India business is fully isolated from what is happening globally," Virwani said. In WeWork India, Embassy Group holds a 73 per cent stake, while WeWork Global has a 27 per cent shareholding. Asked whether Embassy would consider WeWork Global stake in India business, he said, "I will always be a buyer of this company's equity if anyone is willing to sell it whether it's at a discount or even a slight premium. We see a long-term value to be much much higher than what it is today. So I am always going to be a buyer." Virwani described WeWork Global as a great partner who helped India business during the tough COVID period by making investments. WeWork Global, which is a leading provider of flexible workspace, had in June 2021 invested USD 100 million in WeWork India. WeWork India has 50 centres, covering 6.5 million square feet area across 7 cities -- New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune and Hyderabad.

WeWork India revenue up 40% in Apr-Jun to Rs 400 cr on rising demand for co-working space: CEO

SpiceJet Ltd on Monday said it has hived off its cargo and logistics business <keyword id="6866514" type="General" weightage="20" keywordseo="SpiceXpress" source="Orion">SpiceXpress</keyword> into a separate entity -- SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said. It also paves the way for SpiceXpress to raise funds independently, SpiceJet said. The decision to hive off SpiceXpress is in sync with the company's long-term business plan and will unlock significant valuation of the logistic business, SpiceJet Ltd Chairman Ajay Singh said. Singh further said "the separation of our cargo and logistics arm is a stepping stone in our growth story which shall unfold in the times to come". SpiceXpress reported a net profit of Rs 51.4 crore for the April-December period of FY23. "In a bid to boost the growth of its cargo business and provide a more streamlined and efficient service to its customers, SpiceJet Ltd has completed the hive off of its cargo and logistics division 'SpiceXpress' into a separate entity, SpiceXpress and Logistics Private Limited," the company said. The consideration for the slump-sale will be discharged by SpiceXpress by issuance of securities in the combination of equity shares and compulsorily convertible debentures to SpiceJet for an aggregate amount of Rs 2,555.77 crore which will also strengthen the balance sheet of SpiceJet, it said. According to Singh, "SpiceXpress will provide greater and differentiated focus to cargo and logistics business and will allow the possibility of raising capital for the business to accelerate its growth". Both SpiceJet and SpiceXpress have great potential and will complement each other well, he added. He also said that the hive off will not only enable SpiceXpress to raise cash independently, it will significantly reduce SpiceJet's negative net worth. "Having restructured over USD 100 million, outstanding dues to Carlyle Aviation Partner last month, the hive off will further strengthen and deleverage our balance sheet," Singh said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/avalon-technologies-ipo-top-10-points-about-this-electronic/slidelist/99201942.cms">Avalon Technologies IPO opens – 10 things you need to know before you subscribe</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/top-stocks-that-delivered-the-highest-yield-over-one-year/slidelist/99145713.cms">Time to bet on dividend income: Top stocks that delivered the highest yield over one year</a>

SpiceJet hives off cargo & logistics biz into separate entity from Apr 1

<ul class="summary-list"><li>An <keyword id="1755739" type="ORGANIZATION" weightage="60" keywordseo="APR">APR</keyword> is the cost of <keyword id="1252447" type="PERSON" weightage="60" keywordseo="borrowing-money">borrowing money</keyword>, stated as a yearly rate.</li><li>You can use APR to compare loan offers because it shows what you'll repay in interest, plus fees.</li><li>APRs can be fixed or variable, and calculated as simple or compound interest.</li></ul>When you use a credit card or take out a loan, your lender will charge you interest for the privilege of borrowing the money. They'll typically present this cost as an annual percentage rate, or APR, which shows your total cost of borrowing - plus fees. Because they help you compare offers and find the best deal, it's important to know how they work. <h2>What is APR?</h2>An APR is the cost of borrowing money expressed as a yearly rate. While the APR is usually applied to consumer debt, like credit cards and loans, it can also represent the return on an investment you make."In most cases, [it's] the single most important factor to understand when both borrowing or saving money," says Brian Stivers, an investment adviser and founder of Stivers Financial Services in Knoxville, Tennessee. That's because it helps you "understand the true cost of borrowing money and not just the monthly payment."For instance, you can use APRs to compare the borrowing costs on a mortgage. Let's say Lender A and Lender B both offer an interest rate of 2.75% and quote you a list of fees you'll pay on the loan. It can be tough to compare those fees because they may go by different names - plus, you'll have to crunch the numbers. But the APR takes those fees, along with the interest rate, and translates the information into a unit you can quickly measure. In this example, let's say Lender A charges an APR of 2.90%, while Lender B quotes an APR of 3.50%. At a quick glance, you can tell Lender B's loan includes more costs outside of what you're borrowing. <table style="border-collapse: collapse; width: 100%;" border="1"><tbody><tr><td style="width: 33.3333%;"> </td><td style="width: 33.3333%;">Lender A</td><td style="width: 33.3333%;">Lender B</td></tr><tr><td style="width: 33.3333%;">Interest rate</td><td style="width: 33.3333%;">2.75%</td><td style="width: 33.3333%;">2.75%</td></tr><tr><td style="width: 33.3333%;">APR</td><td style="width: 33.3333%;">2.90%</td><td style="width: 33.3333%;">3.50%</td></tr></tbody></table>While the 0.60% difference may seem insignificant in this example, it can really add up if you're borrowing a large sum of money - like a mortgage, for example.<table style="height: 66px; width: 96%; border-collapse: collapse;" border="1"><tbody><tr style="height: 22px;"><td style="width: 17.1429%; height: 22px;"> </td><td style="width: 17.5324%; height: 22px;">APR</td><td style="width: 19.2208%; height: 22px;">30-yr mortgage</td><td style="width: 21.948%; height: 22px;">Monthly payment</td><td style="width: 24.1559%; height: 22px;">Total mortgage</td></tr><tr style="height: 22px;"><td style="width: 17.1429%; height: 22px;">Lender A</td><td style="width: 17.5324%; height: 22px;">2.90%</td><td style="width: 19.2208%; height: 22px;">$300,000</td><td style="width: 21.948%; height: 22px;">$1,249</td><td style="width: 24.1559%; height: 22px;">$449,528</td></tr><tr style="height: 22px;"><td style="width: 17.1429%; height: 22px;">Lender B</td><td style="width: 17.5324%; height: 22px;">3.50%</td><td style="width: 19.2208%; height: 22px;">$300,000</td><td style="width: 21.948%; height: 22px;">$1,347</td><td style="width: 24.1559%; height: 22px; text-align: left;">$484,968</td></tr></tbody></table>In the example above, that 0.60% difference means you'd pay $35,440 more if you'd went with Lender B. This is the power of APR.That being said, it's always a good idea to calculate the interest you'll pay over the life of a loan when the interest rates are different. You might end up paying less interest on a loan that has a higher APR, and you'll have to figure out if the higher fees are worth it.<h2>How does APR work?</h2>On a loan, APR includes the interest rate plus any fees the lender charges, such as origination, legal, or underwriting fees. APR isn't so complicated on a credit card - it's just the interest rate stated as a yearly rate.The APR was designed to give borrowers more information about what they're really paying to borrow money. Thanks to the federal Truth in Lending Act (TILA), lenders are required to disclose the APR on every consumer loan agreement before the borrower signs the contract. The TILA disclosure also includes other important terms, including:<ul><li>Finance charge, or the cost of credit expressed as a dollar amount.</li><li>Amount financed, which is typically the dollar amount you're borrowing.</li><li>Payment information, such as the monthly payment, the total number of payments you'll make, and the sum of all your payments combined (which includes principal plus financing costs).</li><li>Other information, such as late fees and prepayment penalties.</li></ul>When you apply for the loan and receive the TILA disclosure, it might be written into the loan contract. It's a good idea to review the whole contract and make sure you understand the terms before signing on the dotted line.Quick tip: The fees that are rolled into the APR may vary based on the lender, the financial product, and details unique to you - like your credit standing.<h3>How is APR calculated? </h3>The formula for calculating APR is as follows:<div type="image" title="Formula graphic for how to calculate APR (Annual Percentage Rate)" height="1077" width="1668" msid="84830080" hostid="261"></div>Where n = number of days in the loan term.Check out one example to see how it works. Let's say you take out a $5,000 personal loan with a two-year loan term and a $400 origination fee. The total interest you pay over the life of the loan equals $980. Follow these steps to calculate the APR:<ol><li>Add up the fees and interest: $400 + $980 = $1,380</li><li>Divide that number by the principal, or the amount you're borrowing: $1,380/$5,000 = 0.276</li><li>Divide by the number of days in the loan term: 0.276/730 = 0.00037808219</li><li>Multiply what you've got by 365: 0.00037808219 x 365 = 0.138</li><li>Now multiply by 100 to find the APR: 0.138 x 100 = 13.8%</li></ol><h3>What is a good APR?</h3>A good APR is simply one that's affordable to you, but there are some general rules you can follow when shopping around. For instance, the National Consumer Law Center says <a href="https://www.nclc.org/images/pdf/pr-reports/why36pct.pdf" target="_blank" rel="nofollow noopener sponsored">APRs over 36% are unaffordable</a>. But it also depends on the type of financial product and loan term. The APR on an auto loan might be higher than one on a mortgage, but the longer term on a mortgage means you'll likely pay more interest over time. APR varies with the type of financial product you're taking out, but it also depends on the lender's overhead costs. For example, an online lender often has lower expenses than a large bank with brick-and-mortar locations. "With lower expenses, they can generally charge less APR to achieve their profit margin," Stivers says, "than a larger lending institution with many locations and more employees."Quick tip: Before taking out a loan, check the APR and use a calculator to figure out how much interest you'd pay over time.<h2>APR vs. APY</h2>Here's what to know when comparing APR with APY:<table style="border-collapse: collapse; width: 100%;" border="1"><tbody><tr><td style="width: 50%;">APR</td><td style="width: 50%;">APY</td></tr><tr><td style="width: 50%;"><ul><li>An interest rate, plus fees that are stated as a yearly rate</li><li>Usually applies to money you borrow</li><li>A lower APR helps you save money and is based off your credit</li><li>Different types of APRs depending on the financial product</li></ul></td><td style="width: 50%;"><ul><li>A yearly interest rate that includes the compounding effect</li><li>Usually applies to money you earn on an investment</li><li>A higher APY helps you earn more money</li><li>Doesn't include fees</li></ul></td></tr></tbody></table><h2>APR vs. interest rate</h2>Some people think the APR and the interest are one and the same, but they have different meanings when it comes to loans. "Interest rates only reflect the percentage of interest charged on the loan," Stivers says. "The APR includes additional costs associated with the loan." Some of these additional costs include discount points, loan origination fees, and other underwriting fees.Here's a good way to think about it: You'll use the interest rate to calculate your monthly payment, and use the APR to help gauge the entire cost of the loan and compare offers. <h2>Types of APR</h2>Several credit products, like mortgages and auto loans, only come with one APR. The APR may be fixed, which means it never changes, or variable, in which it may go up or down over time. Other types of debt, like credit cards, may charge several APRs. That's because "lenders, in general, have different APRs for different risk," Stivers says. "For example, a balance transfer from one credit card to another generally has lower risk since there is a history of the consumer paying the payment to the original credit card company. So, the new credit card may discount their APR due to the perceived less risk than a brand-new purchase with no payment history."A credit card may charge a different APR based on the type of transaction you're doing:<ul><li>Purchase APR: applies to the purchases you make with the credit card. "Credit card companies will often use a lower APR, sometimes 0%, for a short period of time - six months to one year - to entice a consumer to use their credit," Stivers says. </li><li>Balance transfer APR: applies to debts you transfer to your credit card. Some credit cards offer a low promotional APR on balance transfers.</li><li>Cash advance APR: applies when you borrow cash against the credit line. This APR is usually higher than the purchase APR.</li><li>Penalty APR: applies when you make a late payment or miss one entirely. The credit card issuer has to follow certain rules before applying a penalty APR to your account. </li><li>Introductory/promotional APR: a low APR that applies to certain transactions - like purchases or balance transfers - for a limited amount of time. The time frame varies with each card but is usually anywhere from 12 to 18 months.</li></ul>Keep an eye on your credit card balance when it comes with a promotional APR, though. "The credit card companies realize few consumers will pay off the debt in the allotted time," Stivers says, "and will then raise the APR to much higher rates at the end of the promotional period of time."Quick tip: Whenever you take out any loan or credit card, find out whether the APR is fixed or variable, the different types of APRs you could be charged, and when you might pay each one.<h2>The financial takeaway</h2>Annual percentage rate is a helpful way to measure the total cost of borrowing. On a loan, it's based on the lender's interest rate plus fees they charge, while on a credit card it's simply the rate expressed as a yearly rate. It's important to know the APR before taking out a credit card or loan because you can use this number to compare offers - and finding the best deal can help you save money.<a data-type="6079bfcb16fb070b7c046ab8">What is simple interest? A straightforward way to calculate the cost of borrowing or lending money</a><a data-type="5f861cca977c4355e15229b8">Understanding the way compound interest works is key to building wealth or avoiding crushing debt. Here's how to make it work for you</a><a data-type="5f737f8af348c353d32b0f8c">The LIBOR is a global interest rate that affects the rates of many loans and investments. Here's how it's set, and why it's slated to end</a><a data-type="5fa1a11d19bb5e18580dbc66">Dividends are payments made by a company to its shareholders - here's how they work</a>

What is APR?

Average office rentals remained stable during April-June at ₹95 per square feet across six major cities as new supply rose 32%, while demand grew by a modest 2 %, according to <keyword id="3166898" type="General" weightage="20" keywordseo="colliers-india" source="Orion">Colliers India</keyword>. Real estate consultant Colliers India released its <keyword id="17907085" type="General" weightage="20" keywordseo="quarterly-data-of-six-major-office-markets" source="Orion">quarterly data of six major office markets</keyword> -- Bengaluru, Delhi-NCR, Mumbai, Chennai, Hyderabad and Pune -- on Wednesday. Gross leasing of office space rose 2 % to 14.6 million square feet across top six cities during April-June, from 14.3 million square feet in the year-ago period, driven by technology, engineering and manufacturing sectors. Chennai saw a three-fold jump in office demand, beating Delhi-NCR and Mumbai in leasing activities. New supply of office space rose 32 % to 12.4 million square feet across these six cities from 9.4 million square feet. Weighted average rental remained flat at ₹ 95 per square feet a month, across six cities. Peush Jain, managing director-office services, India, Colliers, said, "While the demand improved during the quarter, supply saw significant three-fold rise year-on-year, and was at par with demand. Hence rentals largely remained steady." As the demand improves further in coming quarters, Jain said there is a potential upside on rentals by the end of the year. As per the city-wise data, office space leasing in Bengaluru fell 22 % to 3.4 million square feet in April-June from 4.4 million square feet in the year-ago period. However, new supply more than doubled to 3.8 million square feet from 1.6 million square feet. Office rent in Bengaluru rose 1 % to ₹ 91.9 per square feet a month, from ₹ 90.6 in the year-ago period. In Chennai, the office leasing tripled to 3.3 million square feet from 1.1 million square feet. New supply jumped to 2.4 million square feet from 1 million square feet. Office rent in Chennai grew by 2 % to ₹ 75.1 per square feet from Rs 73.4 per square feet a month. Office leasing in Delhi-NCR was up 11 % to 3.1 million square feet from 2.8 million square feet. New supply rose 43 % to 2.1 million square feet from 1.4 million square feet. Monthly rent in Delhi-NCR appreciated by 2 % to ₹ 94.2 per square feet from ₹ 92.4 per square feet. In Hyderabad, the office demand fell 22 % to 1.5 million square feet from 1.9 million square feet, while new supply fell 19 % to 3 million square feet from 3.8 million square feet. Monthly Office rent remained stable at ₹ 73.7 per square feet from ₹ 73.6 per square feet. The gross office space leasing in Mumbai was down 41 % to 1.6 million square feet from 2.8 million square feet. New supply plunged 79 % to 0.2 million square feet from 1 million square feet. Office rent remained stable at ₹ 140.2 per square feet from ₹ 139.9 a square feet. In Pune, the leasing activities grew 28 % to 1.7 million square feet during April-June this year from 1.3 million square feet in the year-ago period. New supply increased 52 % to 0.9 million square feet in the second quarter of this calendar year from 0.6 million square feet in the corresponding period of the previous year. The average monthly office rent increased 1 % to ₹ 76.7 per square feet in April-June from ₹ 75.6 per square feet in the year-ago period. According to Colliers, the share of space leased by coworking operators increased to 17 % from 11 % during the period under review. Bengaluru-based managed office player Urban Vault co-founder Amal Mishra said, "corporates of all sizes have been taking office space in coworking centres and they are looking to increase the share of flex space in their overall real estate portfolio." Flexibility to scale up and scale down business, saving of capital expenditure and avoiding hassles to manage real estate are major considerations for corporates while choosing coworking space, Mishra noted. Gross absorption/leasing of office space does not include lease renewals, pre-commitments and deals where only a letter of intent has been signed, Colliers said.

Flat demand keeps office rent stable in Apr-Jun even as new supply rises  32% across top 6 cities: Colliers

Foreign direct investment (<keyword id="44528" type="General" weightage="100" keywordseo="fdi" source="Orion">FDI</keyword>) into <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> declined by 15 per cent to USD 36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data. The FDI inflows stood at USD 43.17 billion during the corresponding period of the previous year. The total FDI inflows, which includes equity inflows, re-invested earnings and other capital, declined to USD 55.27 billion during the nine months of the current fiscal year as against USD 60.4 billion in the year-ago period. During April-December 2022-23, <keyword id="6356662" type="General" weightage="20" keywordseo="singapore" source="Orion">Singapore</keyword> emerged as the top investor with USD 13 billion FDI. It was followed by Mauritius (USD 4.7 billion), the US (about USD 5 billion), the <keyword id="6358356" type="General" weightage="50" keywordseo="uae" source="Orion">UAE</keyword> (USD 3.1 billion), the Netherlands (USD 2.15 billion), <keyword id="6355311" type="General" weightage="20" keywordseo="japan" source="Orion">Japan</keyword> (USD 1.4 billion), and Cyprus (USD 1.15 billion), the data showed. The computer software and hardware sector attracted the highest inflows of USD 8 billion during the nine-month period of this fiscal. It was followed by services (USD 6.6 billion), trading (USD 4.14 billion), chemicals (USD 1.5 billion), automobile industry (USD 1.27 billion) and construction (infrastructure) activities (USD 1.22 billion). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/hot-temperature-to-heat-up-prices-reduce-wheat-yield-crisil/articleshow/98153310.cms">Hot temperature to heat up prices, reduce wheat yield: CRISIL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sell-off-by-fiis-does-not-impact-markets-retail-participation-is-more-important-says-sebi-executive-director/articleshow/98153452.cms">Sell off by FIIs does not impact markets; retail participation is more important, says SEBI executive director</a>

FDI equity inflows decline 15% to USD 36.75 billon in Apr-Dec FY23

Mumbai, Oct 10 (IANS) Although the banks remain flush with liquidity and interest rates lowered significantly, credit offtake from banks was very low and "anaemic" during the first half of the current financial year (2020-21). The low credit offtake can be attributed to the weak demand and persistent uncertainty amid the pandemic. "During H1 2020-21, bank credit offtake was anaemic, reflecting weak demand and uncertainty in the wake of the pandemic," showed the Monetary Policy Report for the October 2020 released by the Reserve Bank of India (RBI). It showed that non-food credit growth (y-o-y) was 5.1 per cent as of September 25, 2020, lower than 8.6 per cent a year ago, driven by weak momentum and base effects. It noted that the slowdown in credit growth was spread across all bank groups, especially foreign banks. Credit growth of the public sector banks remained modest, although with some uptick since March 2020. "Of the incremental credit extended by the scheduled commercial banks (SCBs) on a year-on-year basis (September 27, 2019 to September 25, 2020), 62.3 per cent was provided by the public sector banks and 41.2 per cent by the private sector banks, while the share of the foreign banks turned negative," said the report. The deceleration in non-food credit growth was broad-based, with credit offtake slowing down in all the major sectors. Though personal loans and credit to agriculture registered some improvement in July 2020, the momentum could not be sustained in August. Credit growth to services and industrial sectors has also tapered off after showing some promise in the Q1 of FY21. Personal loans accounted for the largest share of total credit flow in August 2020, followed by services. While the share of personal loans, services and agriculture increased in August 2020 vis-a-vis the previous year, the share of industry contracted. --IANS rrb/sn/tsb

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What is APR?

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Flat demand keeps office rent stable in Apr-Jun even as new supply rises 32% across top 6 cities: Colliers

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FDI equity inflows decline 15% to USD 36.75 billon in Apr-Dec FY23

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Bank credit offtake remained poor in Apr-Sep: RBI report

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