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Audit push: NFRA releases second audit practice toolkit; focuses on revenue risk assessment

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Audit push: NFRA releases second audit practice toolkit; focuses on revenue risk assessment

The National Financial Reporting Authority (NFRA) on Thursday said it has rolled out its second Audit Practice Toolkit to support small and medium audit practitioners across the country, as part of its broader effort to improve the quality of auditing practices, PTI reported.The toolkit, titled ‘Risk & Response Memorandum: ROMM (Risk of Material Misstatement) Assessment at Assertion Level for Revenue’, focuses on a key stage of the audit process involving the identification and assessment of risks of material misstatement in revenue, the audit regulator said in a release.NFRA said the initiative builds on its recent outreach programmes for audit firms and practitioners, with a particular emphasis on small and medium-sized practitioners. The authority began issuing audit practice toolkits in November 2025 as part of a systemic approach to strengthening audit quality.NFRA chairperson Nitin Gupta said the sample document has been designed to be adaptable to different types and sizes of audit engagements.The regulator said the toolkit is expected to serve as a practical guide for many small and medium practitioners, who can use it by suitably amending the contents based on the facts and circumstances of their respective audit engagements.NFRA added that it plans to issue sample audit practice toolkits covering a few other significant audit areas during the remainder of the financial year.

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Vande Bharat Sleeper Train Launch Soon On This Route! Indian Railways’ New Train Better Than Rajdhani

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Vande Bharat Sleeper Train Launch, Route & Fares: The much awaited Vande Bharat sleeper train is all set to be launched soon, Railway Minister Ashwini Vaishnaw has announced. The new train will be flagged off by PM Narendra Modi in the next few weeks. Vande Bharat sleeper trains, aimed at providing superior experience to Rajdhani Express trains, are for long-distance overnight travel. The new train has several passenger-friendly features and will offer the fastest rail travel option on any route. What’s special about the Vande Bharat sleeper train? From Vande Bharat sleeper train’s maiden route to ticket prices & features – here are top 10 facts and stunning photos:

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‘Worst tragedy’: Swiss president on fire that killed 40 in bar fire; flags to fly at half-mast for 5 days

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'Worst tragedy': Swiss president on fire that killed 40 in bar fire; flags to fly at half-mast for 5 days
Swiss Federal President Guy Parmelin (AP)

Swiss President Guy Parmelin described the deadly fire at the bar in Crans-Montana that killed 40 and injured 115 as “one of the worst tragedies” the country has known.A fire broke out shortly after midnight on Thursday during New Year celebrations at Le Constellation, a bar popular with international tourists. Swiss police said nearly 100 people were inside at the time of the blaze.

New Year Horror In Switzerland; Over 40 Killed, 100 Injured As Deadly Fire Engulfs Luxury Ski Resort

Speaking after the incident, Parmelin said authorities are investigating “the exact circumstances” of what happened. “We owe it to victims”, their families and all Swiss citizens, he said, as quoted by BBC.He added that flags will be flown at half-mast for five days, stressing that a “tragedy of such a scale” must not happen again.Asked by a journalist whether minors were among those who died, state councillor Stéphane Ganzer said he would not describe the victims as minors, but added, “You can imagine on New Year’s Eve that the population is quite young. We’re talking about a young festive population.”Parmelin said the identification of victims needs to be completed as quickly as possible, but stressed the process is “extremely difficult work” and “is something that will last a long time.”Parmelin thanked countries that offered support in the aftermath of the fire, pointing specifically to neighbouring France, Germany and Italy. He said communications are being established through foreign ministries with the families of foreign victims.Earlier, Parmelin, who took office on January 1, wrote on X, “What was a moment of joy turned into a tragedy in Crans-Montana last night, felt across the country and beyond. The Federal Council has taken note of this with deep dismay. Its thoughts are with the victims, the injured and their families and it extends its deepest condolences.”Authorities have cordoned off the area and imposed a no-fly zone as emergency operations continue. Around 10 helicopters, 40 ambulances and 150 responders were deployed to the scene. Officials said emergency operations will continue over the coming days.Officials described the blaze as an “embrasement généralisé,” a firefighting term referring to a sudden and violent ignition caused by combustible gases, similar to what English-speaking firefighters call a flashover or backdraft.Beatrice Pilloud, prosecutor-general of Valais canton, said “currently we are favouring a fire and at no time is there question of any attack,” adding that out of respect for the families she could not provide further details. Police have confirmed the incident is not being treated as terror-related.

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Director compliance relief: Corporate affairs ministry eases KYC norms, shifts from annual filing to 3-year cycle

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Director compliance relief: Corporate affairs ministry eases KYC norms, shifts from annual filing to 3-year cycle

The Corporate Affairs Ministry has relaxed compliance requirements for company directors by replacing the mandatory annual KYC filing with a simplified requirement once every three years under the Companies Act, 2013, PTI reported.The change follows a review of Rule 12A of the Companies (Appointment & Qualification of Directors) Rules, 2014, based on recommendations of the High Level Committee on Non-Financial Regulatory Reforms and suggestions received from stakeholders, the ministry said in a release.The amended rules were notified on December 31, 2025, and will come into effect from March 31, 2026.Under the revised framework, directors will be required to submit an abridged KYC intimation once every three years, replacing the existing annual KYC filing requirement.The ministry said a revised KYC form has been introduced, which can be used not only for KYC compliance but also for updating mobile numbers, email addresses and residential addresses, as well as for reactivation of the Director Identification Number (DIN).Verification through a digital signature by the DIN holder or director and certification by a professional will be mandatory only if the KYC form is submitted for updating the mobile number, email address or residential address, it said.The amendment is aimed at providing significant ease of compliance to directors across all companies.All directors who have completed their KYC requirements to date are covered under the new provisions, and their next KYC filing will be due by June 30, 2028, according to the ministry.Directors who have not submitted their KYC forms so far may continue to get their DINs reactivated as per existing provisions until March 31, 2026, it added.

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Global investing outlook 2026: Why investors may look beyond the US; how AI, rate cuts and a softer dollar will shape returns

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Global investing outlook 2026: Why investors may look beyond the US; how AI, rate cuts and a softer dollar will shape returns

Global investment opportunities are set to widen meaningfully in 2026 as easing monetary policy, a weakening US dollar and profit growth outside the United States reshape capital flows, according to Franklin Templeton report.The asset manager report titled ‘Global Investment Outlook 2026 and Beyond’ said that lobal markets are entering a phase where returns are likely to “broaden” across regions and asset classes, moving away from the US-centric leadership seen in recent years, even as American equities — particularly technology stocks — remain resilient.”“In 2026, we foresee broadening opportunities across global capital markets, driven by attractive profits growth outside the United States and by global monetary policy easing,” the report said.Franklin Templeton identified three cyclical forces defining the near-term landscape — broadening, steepening and weakening. Broadening reflects expanding opportunities across geographies and asset classes; steepening points to yield curves as short-term rates fall faster than long-term yields; and weakening refers to the US dollar, which the firm expects to remain under pressure.Yield curves are likely to steepen as central banks cut policy rates, reducing the appeal of cash and pushing investors towards equities, credit and longer-duration fixed income. “Falling short-term interest rates will incentivise investors to move out of cash holdings and into risk assets,” the report said, adding that cyclically sensitive sectors such as financials, industrials and smaller companies could benefit.The US Federal Reserve resumed rate cuts in September 2025 after a nine-month pause and is expected to continue easing into the first half of 2026, even as inflation remains above target. Franklin Templeton said this policy backdrop reinforces its broadening thesis, encouraging investors to look beyond traditional safe assets.The US dollar has already fallen about 10% on a trade-weighted basis this year, and the report suggested the decline may not be over. “Weakening of the US dollar tends to reinforce a broadening of returns across capital markets, by region, sector, and asset class,” it said, highlighting positive implications for emerging market debt and equities.Looking beyond 2026, Franklin Templeton outlined three long-term themes likely to shape portfolios over the coming half-decade — the Age of Intelligence, the mainstreaming of private markets and an era of big government.Artificial intelligence remains central to the long-term investment case, but the report stressed that AI deployment is still in its early stages. “Its contribution to growth, social welfare, and investment returns is just beginning,” Franklin Templeton said, pointing to continued opportunities in data centres, advanced semiconductors and AI-enabling infrastructure.A key constraint — and opportunity — lies in energy. “One of the most compelling investment themes is the need to ‘feed the beast’ to sate AI’s vast energy appetite,” the report noted, flagging rising electricity demand and spillover benefits for engineering, industrial metals and power infrastructure.Private markets are also expected to play a larger role as investors search for income and diversification in a lower-rate environment. Franklin Templeton identified commercial real estate debt, infrastructure and secondary private equity offerings as preferred areas as cash yields decline.At the same time, the report struck a note of caution, warning that rising government intervention could dampen returns. “We have entered an era of big and intrusive government, which risks lowering returns and increasing risk across capital markets over the remainder of this decade,” it said.Franklin Templeton said investors will need to adapt portfolios to a world where leadership is more dispersed, policy uncertainty remains elevated and innovation — particularly in technology, private assets and digital finance — continues to be the dominant long-term driver of returns.

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Florida Panthers at New York Rangers: Date, time, when and where to watch NHL Winter Classic | NHL News

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Florida Panthers at New York Rangers: Date, time, when and where to watch NHL Winter Classic
Florida Panthers at New York Rangers (Image Via Twitter)

A new year starts with the NHL Winter Classic. The hockey fans in all parts of the USA and Canada are waiting for this so much that they are actually writing the date of this famous outdoor event on their calendars. It is not only the location, but the teams taking part too, that make this year’s classic stand out. The Panthers and Rangers will fight each other, and the spectators will have a good time watching fast-paced action, certainly some unforgettable moments, and a total celebration of hockey tradition like no other. With such a unique and historical holding, this winter classic truly emerges as one of the most awaited games of the NHL season.January 2, Friday, 2026, 8 p.m. ET is the date and time for the NHL Winter Classic. It is going to happen at LoanDepot Park in Miami, Florida, which is home to the Miami Marlins, a Major League Baseball team. The event will set the record for the southernmost outdoor game in NHL history, as well as being the very first one in Florida. Besides the Rangers and the Panthers, fans will get to see the whole fiasco happening under brightly lit stadiums, where the intensity of ice hockey comes to the most unusual but spectacular setting ever. The Sporting News indicates that the shift from the traditional New Year’s Day slot to that of the game’s day is a measure to ensure that maximum attention will be on the ice because the game will not conflict with the College Football Playoff quarterfinals.

How to watch NHL Winter Classic: Florida Panthers vs. New York Rangers

The game will be broadcast live on TNT and truTV, and there is also a streaming option through DIRECTV. Besides, viewers can also follow the game via SiriusXM channel 220, where live commentary and analysis will be provided.The football- and baseball-type stadium setting of LoanDepot Park contributes to the magic, with the audience experiencing hockey in a new and historic environment. As the league moves its winter magic to Miami, the 2026 Winter Classic is going to be one of the most unforgettable moments for players and fans alike.The NHL Winter Classic 2026 is going to be a show event, mixing up the old with the new and playing the country-wide game that will be at the center of the spotlight for the entire hockey fandom.Also Read: Top NHL suspensions and fines of 2025: Mathew Barzal, Carter Hart, Alex Formenton, and others disciplined

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Currency update: RBI says 98.41% of withdrawn Rs 2,000 notes returned; Rs 5,669 crore still in circulation

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Currency update: RBI says 98.41% of withdrawn Rs 2,000 notes returned; Rs 5,669 crore still in circulation

The Reserve Bank of India on Thursday said that 98.41% of the Rs 2,000 banknotes that were in circulation at the time of their withdrawal announcement have been returned to the banking system, PTI reported.“The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced, has declined to Rs 5,669 crore at the close of business on December 31, 2025,” the RBI said.The central bank had announced the withdrawal of the Rs 2,000 denomination banknotes from circulation on May 19, 2023. Based on the latest data, 98.41% of the high-value notes in circulation as of that date have since been returned, it said.The RBI noted that facilities for deposit and exchange of Rs 2,000 notes were available at all bank branches across the country until October 7, 2023. From October 9, 2023, the RBI’s 19 issue offices have been accepting Rs 2,000 banknotes from individuals and entities for deposit into their bank accounts.In addition, members of the public are able to send Rs 2,000 banknotes through India Post from any post office in the country to RBI issue offices for credit to their bank accounts, the RBI said in a statement.The central bank reiterated that Rs 2,000 banknotes continue to remain legal tender.

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Auto sales surge: Passenger vehicle wholesales hit record 45.5 lakh units in 2025; GST 2.0, SUVs drive turnaround

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Auto sales surge: Passenger vehicle wholesales hit record 45.5 lakh units in 2025; GST 2.0, SUVs drive turnaround

Passenger vehicle (PV) wholesales in India rose to a record 45.5 lakh units in calendar year 2025, marking a growth of nearly 6 per cent, as policy tailwinds in the second half helped the industry overcome a sluggish start, according to industry estimates, PTI reported.The industry surpassed its previous peak of 43.05 lakh units in 2024, aided by record annual sales from market leader Maruti Suzuki India, Mahindra & Mahindra, Tata Motors Passenger Vehicles, Toyota Kirloskar Motor, and Skoda Auto India, data showed.A notable shift in the competitive landscape saw Mahindra & Mahindra and Tata Motors Passenger Vehicles leapfrog Hyundai Motor India to emerge as the second- and third-largest PV makers by volume, pushing the South Korean automaker to fourth place.SUVs continued to dominate demand, accounting for 55.8 per cent of total PV sales in 2025, up from 53.8 per cent in 2024, even as small cars showed early signs of recovery following GST reforms.Maruti Suzuki India posted wholesales of 18.44 lakh units in 2025, surpassing its earlier record of 17.90 lakh units in 2024, the company said.“For the industry, 2025 total sales is estimated at 45.5 lakh units as compared to 43.05 lakh units clocked in 2024,” Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India, told reporters.Explaining the turnaround, Banerjee said, “We need to split 2025 into two halves — pre GST and the post GST…it is a combination of these things which has really pepped up the market from the month of October onwards.” He added that GST reduction, income tax relief on income up to Rs 12 lakh and repo rate cuts supported demand.At Tata Motors Passenger Vehicles, Managing Director and CEO Shailesh Chandra said the year marked steady progress for the industry.“The momentum sparked by the roll-out of GST 2.0 in late Q2 FY26 gained further traction in Q3, resulting in several new records…it was the fifth consecutive year of record-breaking annual sales, with 5,87,218 units sold, including the highest-ever EV volumes of 81,125 units in a calendar year,” he said.Mahindra & Mahindra also closed the year on a strong note.“The calendar year 2025 ended on a positive note, with Mahindra clocking its highest-ever volumes in both SUVs and LCVs (over 3.5T) segments, a significant milestone for the company,” Nalinikanth Gollagunta, CEO, Automotive Division, said.Hyundai Motor India reported 6.6 per cent year-on-year growth in total sales at 58,702 units in December 2025, including domestic sales of 42,416 units and exports of 16,286 units.“Driven by the positive momentum from GST 2.0 reforms, Hyundai Motor India recorded a robust 6.6 per cent year-on-year growth in total monthly sales for December 2025,” Tarun Garg, Managing Director and CEO, Hyundai Motor India Ltd, said.Toyota Kirloskar Motor posted its highest-ever calendar year sales of 3,88,801 units in 2025, up 19 per cent from 2024.“2025 has been a meaningful year for Toyota, marked by stronger customer acceptance across its products and services,” Varinder Wadhwa, Vice-President, Sales-Service-Used Car Business and Profit Enhancement, said, attributing the performance to GST reforms and product enhancements.Skoda Auto India reported its best-ever sales of 72,665 units in 2025, more than doubling from 2024, while JSW MG Motor India posted 19 per cent year-on-year growth at 70,554 units.Looking ahead, Banerjee said the outlook remains positive.“In times to come, my take is that the tailwinds which are there right now will continue, and if in the next year the monsoon is good, there is no reason why the auto industry should not be growing at a rate of 6–7 per cent growth,” he said.

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Hindu man attacked in Bangladesh: Mob pours petrol, sets him on fire; victim critical

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Hindu man attacked in Bangladesh: Mob pours petrol, sets him on fire; victim critical
Bangladesh has been in turmoil since the killing of youth leader Sharif Osman Hadi (File photo)

A brutal attack on a Hindu businessman in Bangladesh’s Shariatpur district on New Year’s Eve has left him fighting for his life after he was assaulted by a group of miscreants and set on fire, triggering fresh concern over a spate of recent mob violence incidents in the country. The incident took place around 9.30 pm in the Damudya area, near Keurbhanga Bazar in the Koneshwar Union. The victim, 50-year-old Khokon Chandra Das, was reportedly waylaid, beaten and doused with petrol before being set ablaze, reported news agency ANI, citing Prothom Alo.

Hindu Guard Killed By Colleague In Bangladesh, Third Death In Days Raises Minority Safety Fears

Das was later shifted to Dhaka for advanced treatment as his condition worsened, the report said.Police sources said Das is a resident of Tiloi village in Koneshwar Union and runs a pharmacy along with a mobile banking business at Keurbhanga Bazar. On Wednesday night, after shutting his shop, he was returning home in an auto-rickshaw when the attackers stopped the vehicle on the Damudya–Shariatpur road near the market and assaulted him.According to Prothom Alo, the miscreants attacked him with sharp weapons before setting him on fire. In a desperate attempt to save himself, Das jumped into a nearby pond along the roadside. Hearing his cries, local residents rushed to the spot, forcing the attackers to flee.Locals later rescued Das and rushed him to Shariatpur Sadar Hospital, where he was given first aid in the emergency ward. He was referred to Dhaka later that night for advanced treatment due to the seriousness of his injuries.Sima Das, the victim’s wife, said the family was struggling to understand why he was targeted. “My husband returns home every night after closing his shop with the day’s sales money. On Wednesday night, criminals attacked him. He recognised two of the attackers, and because of that, they assaulted him with the intention to kill–hacking him and setting fire to his head and face after pouring petrol on him. We have no enemies in the area. We have no disputes with anyone over any matter. We cannot understand why the criminals suddenly targeted my husband.”Nazrul Islam, a doctor at the emergency department of Shariatpur Sadar Hospital, said the victim had multiple injuries when he was brought in. He added that one abdominal injury was particularly serious, prompting doctors to refer him to Dhaka. Das also suffered burn injuries on his face, the back of his head and his hands.Mohammad Rabiul Haque, Officer-in-Charge of Damudya Police Station, said police swung into action after receiving information about the attack. “After receiving information about a terrorist attack on a businessman at Keurbhanga Bazar, we went to the scene. The names of two of the attackers have been identified. They are local residents Rabbi and Sohag. Efforts are underway to arrest them. We are also trying to identify others who may be involved in the incident,” he said, as quoted by Prothom Alo.The attack comes amid a series of violent incidents targeting members of the Hindu community in Bangladesh. Last month, two Hindu youths were lynched in separate incidents. Dipu Chandra Das, a garment factory worker in Mymensingh district, was beaten to death over alleged blasphemy charges on December 18, after which his body was reportedly hanged and set on fire.In another case, a Hindu youth identified as Amrit Mondal was lynched in Hosendanga village of Kalimohor Union in Rajbari’s Pangsha sub-district over an alleged extortion dispute.These incidents have triggered widespread outrage and condemnation from political leaders, religious organisations and minority groups in both Bangladesh and India.

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Healthcare shock for Americans! Medical insurance subsidies expired; millions stuck with hiked premiums

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Healthcare shock for Americans! Medical insurance subsidies expired; millions stuck with hiked premiums

Millions of Americans face higher healthcare costs as enhanced Affordable Care Act tax credits expired on January 1, 2026, despite efforts from both Republicans and Democrats to find a solution. The expiration affects over 20 million people who rely on these subsidies, with average premium costs more than doubling for most enrollees.The subsidies were part of the original Affordable Care Act passed during the Obama administration and were later enhanced during the Covid-19 pandemic to boost financial assistance for those already eligible and to expand coverage to more Americans. First introduced in 2021 as a temporary pandemic-era measure, the enhanced subsidies were extended by Democrats in power at the time, pushing their expiration to the start of 2026. The subsidies helped lower-income enrollees get free coverage and ensured higher earners paid no more than 8.5 per cent of their income for health insurance.The political battle to save these subsidies led to a 43-day government shutdown, but the two opposing parties could reach an agreement. A House vote expected in January 2026 offers another chance, though success remains uncertain.“It really bothers me that the middle class has moved from a squeeze to a full suffocation, and they continue to just pile on and leave it up to us,” said Katelin Provost, a 37-year-old single mom whose monthly premium is jumping from $85 to nearly $750, as quoted by the Associated Press.Stan Clawson, a 49-year-old freelance filmmaker in Salt Lake City living with paralysis, saw his monthly premiums increase from $350 to nearly $500. He’s choosing to absorb the cost due to his medical needs.Health experts warn that many younger, healthier Americans might drop coverage altogether due to the higher costs. The Urban Institute and Commonwealth Fund predict about 4.8 million Americans will lose coverage in 2026. This could make the program more expensive for older, sicker participants who remain.Some affected individuals are making tough choices. Provost plans to drop her own coverage while maintaining insurance for her four-year-old daughter if Congress doesn’t restore the subsidies soon.Chad Bruns, a 58-year-old enrollee from Wisconsin, expressed frustration with the political gridlock: “Both Republicans and Democrats have been saying for years, oh, we need to fix it. Then do it. They need to get to the root cause, and no political party ever does that.”The issue remains particularly important as the country enters a crucial midterm election year, with healthcare affordability ranking high among voters’ concerns.

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