Latest news with #CM
NDTV
15 hours ago
- General
- NDTV
"Free Coaching, New Schools": Delhi Government Presents 100-Day Report Card
Delhi Education Minister Ashish Sood on Tuesday presented a comprehensive report highlighting key educational reforms introduced by the newly formed government in its first 100 days. Emphasising inclusive and quality education, the minister detailed a series of initiatives targeting students across various levels. Highlighting efforts to boost higher education, Mr Sood said the government has released the first installment of Rs 274.34 crore as grant-in-aid to 12 Delhi University colleges. Additionally, Rs 19 crore has been directly transferred to the bank accounts of 1,300 students under the Delhi Higher Technical Education Support Scheme. In a major push for competitive exam preparation, the government has launched free online coaching for NEET 2025 and CUET UG 2025 aspirants. Under the Madan Mohan Malviya Vidya Shakti Mission, 2,200 students will receive academic support, including coaching for JEE and other exams for 1,200 of them. The minister announced that the Cabinet has approved the establishment of 75 new CM Shri Schools. Further, the government is set to digitise and upgrade 250 school libraries and install 100 AI-powered Dr APJ Abdul Kalam Language Labs for foreign language learning. Another 100 general language labs are being set up in government schools. Under the Mukhyamantri Digital Education Scheme, 1,200 laptops will be distributed to meritorious students in September, he added. The minister further stated that to improve accountability in private school fee structures, the government has proposed the Delhi School Education (Transparency in Fixation and Regulation of Fees) Bill, 2025. A revision in school uniform rates has also been proposed. Responding to the ongoing fee hike issue at Delhi Public School, the minister questioned the previous administration's handling of the matter. "It's a long-pending issue. Spreading rumours and questioning our government-my question is, why couldn't AAP solve the issue of arbitrary fee hikes when they were in power?" he asked.
United News of India
a day ago
- Business
- United News of India
Officials asked to complete Phase-1 work of ports to boost Infrastructure: CM Naidu
Vijayawada, June 3 (UNI) Andhra Pradesh Chief Minister N Chandrababu Naidu has announced establishing the Andhra Pradesh Logistics Corporation soon to drive infrastructure growth across roads, ports, airports, and fishing harbours. He also asked officials to prepare a plan for setting up heliports in agency areas to promote tourism in tribal regions. Chairing a review meeting at his camp office in Undavalli near here on Tuesday, the CM emphasised that ports and fishing harbours are valuable economic assets for Andhra Pradesh. He stressed the urgency of completing these projects and bringing them into operational use swiftly. Discussions also included port operations and maintenance. The Chief Minister directed officials to complete Phase-1 works of Machilipatnam, Ramayapatnam, and Mulapeta ports as well as the Kakinada Gateway Port by December next year. He also instructed completion of Phase-1 construction for the Juvvaladinne, Nizampatnam, Machilipatnam, and Uppada fishing harbours within the same timeframe. CM Naidu urged officials to explore the possibility of upgrading fishing harbours into minor ports without causing inconvenience to local fishing communities, thereby enhancing regional incomes. The Chief Minister directed the immediate initiation of Phase-1 works for new airports in Kuppam, Dagadarthi, Amaravati, and Srikakulam (Palasa). He emphasised the goal of developing at least 20 ports and 14 airports across the state. Chandrababu Naidu also instructed the expansion of state roads in accordance with traffic needs, integrating them with national highways through Public-Private Partnership (PPP) mode. Officials informed the Chief Minister that construction of Machilipatnam Port has reached 43.25% completion and is scheduled for full completion by November next year. Phase-1 of Ramayapatnam Port stands at 63.89% completion, Mulapeta Port at 46.59%, and Kakinada Gateway Port at 29.92%. Regarding fishing harbours, Juvvaladinne is at 97.72% completion, Nizampatnam at 81.17%, Machilipatnam at 69.20%, and Uppada at 78.94%, as per updates shared with the Chief Minister. UNI DP ARN
Yahoo
2 days ago
- Business
- Yahoo
Canadian Imperial's Q2 Earnings Rise on Higher Revenues, Provisions Up
Canadian Imperial Bank of Commerce CM announced second-quarter fiscal 2025 (ended April 30) results last week. Adjusted earnings per share of C$2.05 increased 17% from the prior-year benefited from growth in revenues and a rise in loans and deposit balances. However, higher expenses and a jump in provisions were the undermining considering non-recurring items, net income was C$2 billion ($1.41 billion), reflecting a 15% year-over-year growth. Total revenues were C$7.02 billion ($4.94 billion), up 14% year over year. The rise was driven by higher net interest income and non-interest interest income (NII) came in at C$3.79 billion ($2.67 billion), up 15%. Non-interest income increased 12% to C$3.23 billion ($2.27 billion).Non-interest expenses totaled C$3.82 billion ($2.69 billion), rising 9% year over adjusted efficiency ratio was 54.2% at the end of the reported quarter, down from 56.4% in the prior-year quarter. A decline in the efficiency ratio indicates an improvement in for credit losses was C$605 million ($425.7 million), up 18% from the prior-year of April 30, 2025, total assets were C$1.09 trillion ($774.2 billion), up almost 1% from the prior quarter. Net loans and acceptances increased marginally to C$571.6 billion ($413.6 billion), while deposits increased slightly to C$784.6 billion ($567.7 billion). As of April 30, 2025, the Common Equity Tier 1 ratio was 13.4% compared with 13.1% in the prior-year quarter. The Tier 1 capital ratio was 15.2% compared with 14.7% in the prior-year period. The total capital ratio was 17.8%, up from 17%.Adjusted return on common shareholders' equity was 13.9% at the end of the fiscal second quarter, up from the prior year's 13.4%. Given high interest rates and decent loan demand, Canadian Imperial is likely to witness an improvement in revenues. However, a challenging operating backdrop and steadily increasing expenses remain near-term concerns. Canadian Imperial Bank of Commerce price-consensus-eps-surprise-chart | Canadian Imperial Bank of Commerce Quote Currently, CM carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Toronto-Dominion Bank's TD second-quarter fiscal 2025 (ended April 30) adjusted net income of C$3.6 billion ($2.63 billion) fell 4.3% year over year. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Higher provisions for credit losses and expenses acted as undermining factors. Also, lower loan balances were another negative. Nonetheless, growth in NII and non-interest income was positive for TD. Deutsche Bank DB reported first-quarter 2025 earnings attributable to its shareholders of €1.78 billion ($2.01 billion), up 39.2% year over results were aided by a rise in revenues and lower expenses. However, higher provision for credit losses was a spoilsport. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report Canadian Imperial Bank of Commerce (CM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
2 days ago
- Business
- Globe and Mail
BMO bank analyst summarizes earnings season, reiterates top picks in the sector
Daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow BMO bank analyst Sohrab Movahedi summarized bank earnings and reiterated top picks in the sector, 'Q2 reporting season for the banks wrapped up yesterday. The bank index was up 1 per cent in the past week, underperforming the S&P/TSX by 40 basis points. Based on the results, BNS and RY were 1 per cent below consensus, but the rest all beat (most at NA, by 19 per cent). We got dividend increases of 4 per cent at RY and NA, 3 per cent at BMO (all three on a semi-annual review), and 4 per cent at BNS (annual review cycle). We maintain our 'best offense is a good defense' stance, with no change to our Outperform ratings on RY, CM, TD, and NA. CM was the only bank to report an ROE improvement year-over-year, while NA delivered the highest ROE (and ROA). By segment, RY, CM, and NA were the only banks to report higher year-over-year Canadian banking earnings on better NIM and operating leverage, but volume growth is a challenge for all. All the banks reported higher year-over-year pre-tax pre-provision earnings driven by strong revenue growth (helped by strong trading revenue, most notably at NA) … Credit quality was a key topic, with all the banks reporting higher year-over-year PCLs, reflecting higher performing reserves; highest quarterly build at RY with an add of 23bps, and the rest ranging 10-18bps, in anticipation of trade disruption economic downsides' *** RBC Capital Markets head of global energy research Greg Pardy made one change to his global energy best ideas list, adding Cheniere Energy Inc., 'In May, the RBC Global Energy Best Ideas List was up 5.7 per cent compared to the iShares S&P Global Energy Sector ETF (IXC) which was up 2.2 per cent and a hybrid benchmark (75-per-cent IXC, 25-per-cent JXI – iShares Global Utilities ETF) that was up 2.4 per cent on a sequential basis. This month, we are adding Cheniere Energy, Inc. (LNG) to the RBC Global Energy Best Ideas List' The list is now Shell, Suncor Energy, California Resources, Chord Energy Corporation, ConocoPhillips, ARC Resources, PrairieSky Royalty, Canadian Natural Resources, Woodside Energy, Enerflex Ltd., SLB, Subsea 7, AltaGas Ltd., Pembina Pipeline Corporation, Cheniere Energy Inc., Energy Transfer LP, Northland Power and Superior Plus. *** I am usually only vaguely interested in thematic stockpicking reports because they tend to be more marketing exercises than investment strategies. Citi's thematic work might be an exception because it appears to generate strong returns. Citi's Thematic 30 list of picks has, with a 12-month total return at 29.4 per cent (no related ETF that I could find, before you ask), more than doubled the returns of the MSCI World Index and the S&P 500, 'This thematic piece furthers a Growth preference from our broader US Equity Strategy work where sector overweights include Communication Services and Information Technology, and index preference is for NASDAQ-100 over the Russell 2000. The goal herein s to call more specific Growth positioning ideas via thematic portfolios and screen for related single stocks. Top Growth Themes — Our top themes in order of preference include: 1) Digital Leisure, 2) Contactless Economy, T3) Artificial Intelligence, and T3) FinTech. These themes are expected to drive earnings and cash flow growth in excess of premium top line growth. To us, secular growth opportunities at scale are attractive in an environment where policy is still wavering, and the consumer seems fragile. Thematic 30 Rebalance — We update the Citi Thematic 30 recommended list to align with our changing Growth theme preferences. New Growth theme additions include ADI, ADSK, AMAT, CART, and PINS. Overall, the list tilts more towards Large Cap and Growth style than previously. Other additions and removals are detailed within'. The stock on the list are Alphabet Inc, Equinix, DocuSign, Applied Materials, Autodesk, Uber Technologies, Doordash, GoDaddy, Analog Devices, Maplebear, Meta Platforms, Applovin, ROBLOX, DraftKings, Pinterest, Mastercard, Fiserv, PayPal, HubSpot, SS&C Technologies, IDEX, HormelFoods, Darling Ingredients, Flowserve, United Airlines, Chart Industries, Republic Services, Gilead Sciences and Labcorp. *** Bluesky post of the day: Diversion: 'You've Set Up Your Smart TV All Wrong—Fix These 5 Settings ' – Make Use Of
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Business Standard
4 days ago
- Business
- Business Standard
Tripura CM Manik Saha announces $85.4 mn ADB-funded industrial push
The CM said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more ANI In a move to attract more investment to Tripura, Chief Minister Manik Saha announced that significant developments are underway to strengthen the state's industrial infrastructure through an $85.4 million loan from the Asian Development Bank (ADB), said a release. According to the release, he said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more. CM Saha said this while addressing delegates at a Stakeholder Consultation under the initiative of the High-Level Task Force on Investment Promotion in the North Eastern Region. "With the mandate of formulating a strategic roadmap to position the Northeast as a preferred investment destination, we are organising this Stakeholder Consultation in collaboration with the Ministry of DoNER. I warmly welcome all participants to today's consultation. I believe that the insights and suggestions of all stakeholders will greatly aid us in shaping our strategy report," he said. CM Saha shared that the High-Level Task Force has already held two meetings, during which the esteemed members provided valuable suggestions and feedback. "We have agreed upon a six-month action plan to formulate a comprehensive roadmap for investment promotion in the region. Work has already begun to devise both long-term and short-term strategies to attract investment across various promising sectors. With investment promotion agencies now active in almost all states, policy decisions related to investments are expected to be more efficient and streamlined," Dr. Saha stated. Referring to the recent Rising Northeast Investor Summit 2025 held on May 23 and 24, Dr. Saha said the summit resulted in significant investment commitments. "For Tripura alone, 64 Memorandums of Understanding (MoUs) worth Rs 15,823 crore were signed during the summit. Prior to this, with joint efforts alongside the Ministry of DoNER, Tripura had signed 184 MoUs with an investment potential exceeding Rs 15,000 crore through roadshows, investment summits, and business conclaves. To date, over 25% of those MoUs have been grounded. I am confident that such consistent collaborative efforts will yield positive outcomes in the near future. The Northeast has several state-specific niche sectors that can be leveraged for economic development. Each state has unique resources and comparative advantages that can be capitalised upon," he added. CM Saha emphasised that Tripura is fully committed to contributing proactively to the formulation of progressive, inclusive, and outcome-oriented roadmaps to achieve the vision of Atmanirbhar Bharat and Viksit Bharat. "We have successfully implemented all 387 business reforms mandated under the Business Reforms Action Plan 2024. I would also like to inform you that we are one of the first states to pass the Tripura Jan Vishwas Ordinance 2025, which decriminalizes provisions in various state acts and rules and repeals obsolete laws. Under the guidance of the Task Force on Deregulation set up by the Cabinet Secretariat, we are working to reduce compliance burdens in state laws, as well as in regulations of local bodies, industrial corporations, and utility providers," he said. The Chief Minister also announced amendments to the Tripura Industrial Investment Promotion Incentives Scheme 2022, introducing additional customised incentives for mega projects. "Significant developments are underway to boost the state's industrial infrastructure through the $85.4 million ADB loan. The Tripura Industrial Development Corporation (TIDC) is executing a robust expansion plan, including the development of over 1,500 acres of new industrial zones, the creation of sector-specific industrial parks, and the development of land parcels along key transport corridors to meet investor demands," Dr. Saha stated. Industries and Commerce Minister Santana Chakma, TIDC Chairman Nabadal Banik, Industries and Commerce Secretary Kiran Gitte, Director Dr. Shailesh Kumar Yadav, secretaries from other northeastern states, directors, and other senior officials were also present at the event.
