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SBI Funds Management, the investment manager of SBI Mutual Fund, recently launched its yearbook Periscope for FY23-24 which highlights the outlook for the fixed-income market in FY24. As per the yearbook, fixed income continues to remain an important avenue for wealth creation and asset allocation during this year.

“This is a period of assessing lag effects. Persistently high inflation led to a change in monetary policy stance across key economies. Domestically, our monetary policy is at an inflection point however a path to a turn in the cycle remains bumpy at present even as a potential change in liquidity stance could enable yield to move lower. Peak policy rates favor a higher duration stance as compared to the previous financial year. An outright heavier positioning is currently constrained on account of low visibility on an immediate turn in policy stance. Higher relative supply and normalization of liquidity have led to a widening of spreads. Spreads remain tighter than the long-term average and could reset higher over H1FY24, thereby giving a positive view on AAA spreads”, said Mr. Rajeev Radhakrishnan, CIO – Of fixed Income.

SBI Mutual Fund is the largest domestic mutual fund house managing an AUM of over Rs. 7.76 lakh crore with its fixed income AUM at over Rs. 2.38 lakh crore as on May 31, 2023.

Bangalore,24th June 2023Continuing the efforts towards the commitment to environmental sustainability and its philosophy of ‘Go Green,’ Toyota Kirloskar Motor (TKM) is proud to announce an upcoming plantation drive near Madapura gate (closer to Ramdevara Betta) on June 25th, 2023, marking the 26th iCARE environmental activity. In line with Toyota’s Environment Month, this initiative reflects the company’s dedication to making a positive impact on the society and nurturing a sense of responsibility among its employees. By actively involving passionate employees, TKM aims to foster a sense of giving back to the community and strengthen the care for environment, among its Toyota family members.

Ramdevara Betta, located in Ramanagara district (Karnataka State), is renowned for being the only Vulture Sanctuary in India. TKM, in collaboration with the Forest Department of Ramanagaram will engage in tree plantation to support the department to enhance the green cover in this region. Through this eco initiative, TKM joins hands in the conservation of the forest.

Reiterating, TKM remains commitment to its six aspirational Global Environmental Challenge 2050, and this plantation drive represents its sixth challenge namely, ‘Living in Harmony with Nature’, focusing on enhancing the biodiversity. TKM has also undertaken ‘Green Wave Project’ promoting mass plantation activities inside and outside the company by consistently expanding the afforestation efforts by adopting ‘Miyawaki concept’, involving all its stakeholders. To elaborate, the Miyawaki method of plantation is to establish the potential natural vegetation utilizing native species and in India, TKM was the first corporate to adopt this Miyawaki Concept way back in 2009. Over the years, TKM has planted more than 3,28,000 saplings across 112 acres of land inside the premises with 700 different floral diversity, contributing to a cumulative reduction of 4,700 tons of carbon and attracting the faunal diversity of more than 264 species.

Since its establishment in 2017, iCARE (I, Community Acton to Reach Everyone) has been instrumental in creating a significant impact on society, positively impacting the lives of 63,150 individuals. Through iCARE, TKM has been actively engaging its employees who continue to voluntarily invest their efforts in various eco activities such as Dibbling for plant seeding (so far 3000 dibbles), land clean-up covering more than 0.5 acres of area in Bannerghatta National Park, making bird nests from plastic bottles were recycled into planters & imbibing the sense of biodiversity conservation amongst youths from 100 shelter homes and so forth. TKM came together to conduct a green home audit initiative to raise awareness about the carbon footprint of sustainable living.

So far, over 1,758 employees have voluntarily participated in iCARE, covering various initiatives in domains such as education, environment, health and hygiene, road safety, skill development, and disaster management in line with the company’s Corporate Social Responsibility (CSR) initiatives.

Sharing his thoughts about the upcoming plantation drive, under the company’s iCARE initiative, Mr. Vikram Gulati, Country Head and Executive Vice President of Toyota Kirloskar Motor said “While the employee participation registration is in progress for the plantation drive, we are delighted to see the enthusiasm of our employees towards this eco initiative. This platform allows us to come together as a Toyota family and show wholehearted support to our company’s dedication to improve the community lives. Through the collective efforts of our passionate employees, we are confident that this initiative will further support and contribute towards building a greener and more harmonious future. We will continue to focus our efforts on areas that require our intervention and work tirelessly towards building a better society.”

With collaboration between TKM and the Forest Department, the plantation drive in Ramanagara district will have a lasting positive impact on the environment and contribute to the restoration of its natural beauty. TKM remains dedicated to its mission of environmental conservation, community welfare, and sustainable practices.

Overview of TKM

Overview of TKM 1st Plant:

Overview of TKM 2nd Plant:

Bengaluru –23rd June 2023 – GE (NYSE: GE) – GE Aerospace announced today that it has signed a Memorandum of Understanding (MOU) with Hindustan Aeronautics Limited (HAL) to produce fighter jet engines for the Indian Air Force, a major milestone amidst Indian Prime Minister Narendra Modi’s official state visit to the United States and a key element in strengthening defense cooperation between the two countries.

The agreement includes the potential joint production of GE Aerospace’s F414 engines in India, and GE Aerospace continues to work with the U.S. government to receive the necessary export authorization for this. The effort is part of the Indian Air Force’s Light Combat Aircraft Mk2 program.

“This is a historic agreement made possible by our longstanding partnership with India and HAL,” said H. Lawrence Culp, Jr., Chairman and Chief Executive Officer of GE and CEO of GE Aerospace. “We are proud to play a role in advancing President Biden and Prime Minister Modi’s vision of closer coordination between the two nations. Our F414 engines are unmatched and will offer important economic and national security benefits for both countries as we help our customers produce the highest quality engines to meet the needs of their military fleet.”

GE Aerospace has operated in India for more than four decades with wide engagement in the industry including engines, avionics, services, engineering, manufacturing, and local sourcing. In addition to potential new work in India, a number of U.S. facilities that currently support work on the F414 engine will see additional volume as a result of today’s announcement.

In 1986, GE began working with the Aeronautical Development Agency and HAL to support the development of India’s Light Combat Aircraft (LCA) with F404 engines. Subsequently GE Aerospace’s F404 and F414 have been part of development and production programs of LCA Mk1 and LCA Mk2 programs. In total, 75 F404 engines have been delivered and another 99 are on order for LCA Mk1A. Eight F414 engines have been delivered as part of an ongoing development program for LCA Mk2.

Today’s agreement will advance GE Aerospace’s earlier commitment to build 99 engines for the Indian Air Force as part of the LCA Mk2 program. It puts the company in a strong position to create a family of products in India, including the F404 engine that currently powers the LCA Mk1 and LCA Mk1A aircraft and GE Aerospace’s selection for the prototype development, testing and certification of the AMCA program with our F414-INS6 engine. In addition, GE will continue to collaborate with Indian government on the AMCA Mk2 engine program.

With more than five million flight hours and eight nations with F414-powered aircraft in operation or on order, the F414 continues to exceed goals for reliability and time on wing. To date, more than 1,600 F414 engines have been delivered globally.

GE’s presence in India includes its research and technology centre, the John F Welch Technology Centre at Bengaluru, which opened in 2000 and its Multi-modal Factory at Pune, which opened in 2015.

Mumbai, 23rd June 2023: Graphytoday announced the acquisition of the community platform, Scenes. This strategic move marks Graphy’s commitment to enhancing its offerings and expanding its reach in the creator ecosystem.

Graphy is a SaaS platform that empowers creators and educators to scale their online brands and business by launching their online courses and selling them via white-labeled websites and mobile apps.

“The acquisition of Scenes is a strategic move aimed at strengthening our leadership position in the creator economy,” said Sumit Jain, Co-founder & CEO Graphy. “We believe in the power of communities and the impact it can have on learner experience. Scenes has built a robust community platform for creators and this acquisition aligns with our vision of helping creators and educators build and scale their online knowledge business,” he added.

“Scenes has been an exciting journey. We’ve partnered with a lot of large creators and businesses over the years. The Scenes product and customers could not have found a better home than Graphy,” said Varun Mayya, Co-founder & CEO Scenes while commenting on the acquisition.

Scenes is an all-in-one community management platform that enables creators to manage, moderate, and monetize their community by selling their digital products, hosting events, processing payments, and more. Scenes is used by top creators such as SharanHegde (1% Club), Sourav Jain (Digital Scholar), and more.

DREST, the mobile gaming company that opens up the often exclusive worlds of luxury fashion, beauty, and lifestyle to everyone, everywhere, announces that it raised £15M of funding to continue the genre-defining development of its new product proposition, DREST Game 2.0.

The funding reinforces DREST’s status as a premium fashion gaming experience, allowing the company to build on its strong momentum. Since its launch in 2019, DREST has recorded 250% year-on-year user growth, raised £30 million, and works directly with over 260 brands including Breitling, Cartier, Christian Louboutin, Fendi, Gucci, Prada, and Valentino.

The investment comes at a time when mobile gaming revenues reached $ 92.2 billion in 2022, accounting for 50% of the $ 184.4 billion global gaming market revenues. It is estimated that the global gaming market will be worth $ 221 billion by 2025 (source: NewZoo).

DREST merges the creative worlds of luxury fashion, beauty and lifestyle with the endless possibilities of the metaverse, offering players the chance to exhibit and improve their styling talent using the latest luxury fashion and beauty collections to style hyper-realistic avatars. Through its in-game challenges, DREST is a platform for user-generated content, with the digital fashion assortment provided by FARFETCH as well as brands directly, allowing players to easily discover, style and shop the latest collections. DREST combines gamification with brand marketing and partnership opportunities, enabling its stakeholders to access and interact with new and highly-engaged audiences.

The investment round was agreed with the family office of DREST Co-Founder and Co-Chair Graham Edwards. Mr. Edwards understood the potential of DREST from its early ideation with fellow Founder and Co-Chair Lucy Yeomans, previously Global Content Director for NET-A-PORTER and Editor-in-Chief of Harper’s Bazaar UK for 12 years. As Co-Chair of DREST, Mr. Edwards brings a wealth of knowledge and expertise from the investment and technology sectors, as well as strategic commercial acumen to support the growth and international expansion of DREST.

Graham Edwards said: “We’re delighted to be able to support Lucy in her quest to bring the merged worlds of gaming and fashion to an excitingly large global audience.”

Lisa Bridgett, CEO DREST says: “We are thrilled to have secured investment to help us scale DREST, especially in such a tough market. This is testament to the strength of our product delivery and pipeline of ideas. We are now ready to take the business to the next level, and offer a new one-of-a-kind experience to our users while maintaining the core elements of the game. There is an undeniable interest in gaming from the luxury fashion and lifestyle industries and we are very well positioned to cater to this increasing demand. We very much look forward to the next chapter.”

This capital will enable DREST’s evolution across gaming, media, data and ecommerce, as the company prepares to roll-out globally a highly improved, metaverse-enabled version of its current product, which will include a series of new features, with the aim to become the leading creative platform for fashion, entertainment and lifestyle gamification. Further plans include scaling DREST through the developer ecosystem, marketing channels and strategic revenue streams as well as building on the user base growth experienced by the platform. Additional games within the web3 and lifestyle space are being explored and will enter into a Research & Development phase over the next 18 months.

The news follows the recent appointment of gaming and web3 expert Henri Holm as Chief Financial Officer who has previously worked with privately funded, venture capital-funded, and publicly listed companies, driving finance, business development and digital strategy creation.

Mumbai, India(23rd June 2023)The Toyota Mobility Foundation, in partnership with Challenge Works and World Resources Institute, has launched a $9 million global challenge to help cities adapt to the future, with the potential to transform the lives of millions around the world.

As cities grow and evolve, the challenges of moving people and goods in reliable, efficient, and inclusive ways have never been more essential. At the same time, opportunities to apply advances in transport modes, infrastructure design, operations, energy options, and connected data systems have never been more promising.

The Sustainable Cities Challenge aims to improve the lives of people by increasing access to jobs, education and other essential services. It will bring cities and innovators together to implement mobility solutions that could reduce carbon, improve accessibility, and use data to build resilient transport systems.

Ryan Klem, Director of Programs at the Toyota Mobility Foundation, said: “Our experience over the past decade has underscored the importance of the local city’s buy-in and engagement with our activities. Throughout the Sustainable Cities Challenge, we are looking to come alongside cities to find innovative solutions in the areas they identify as critical to develop a scalable model for the cities of tomorrow.”

Call for Entries

Entry to the first stage of the Challenge is open to city leaders and municipal governments, transport departments and other related local and regional agencies. Entries should be submitted according to one or more of the following three themes:

•  Expanding access to safe, affordable, and inclusive modes of transportation
•  Harnessing the power of data to create connected and resilient mobility ecosystems
•  Reducing environmental impact through low-carbon and renewable energy solutions

Shortlisted cities will be invited to attend a capacity building academy in the US and will receive support developing their challenge design, becoming part of a wider network of other innovative city teams.

In February 2024, three winning cities will be selected to host a City Challenge to attract entries from global innovators. Innovators could be homegrown – living in the city or country chosen – or may be from anywhere across the globe, but with solutions applicable and adapted to the winning cities.

The winning innovators for each city will be announced in late 2024, and the cities and innovators will share $9 million in funding to test and roll out their solutions.

Increase mobility solutions for a more sustainable future

Many cities are now adapting to new behaviors and lifestyles, as our lives move increasingly online, and patterns of work change. With more than half of the world’s population currently living in cities, the United Nations predicts this will increase to two-thirds by 2050. Additionally, cities are responsible for 70% of global greenhouse gas emissions.

The Sustainable Cities Challenge is funded by the Toyota Mobility Foundation and has been designed in partnership with Challenge Works and World Resources Institute. Challenge Works is an international leader in developing challenge programs to drive new thinking and find creative solutions to problems facing society. World Resources Institute is a global research organization which works with partners to develop practical solutions that improve people’s lives and ensure that nature can thrive.

Kathy Nothstine, Head of Future Cities at Challenge Works, said: “Brilliant people all over the world are working hard to create innovative solutions to help mobility systems work better, and with a lower carbon footprint. The Sustainable Cities Challenge will help those innovators interface with cities to test and adapt solutions according to local needs to improve people’s lives. Challenges like this can act as catalysts for change by accelerating innovation in real world settings.”

In addition to helping cities decarbonize, transforming mobility systems will help cities become more inclusive and accessible for the people living in them. Currently, 1.2 billion people living in cities do not have access to one or more core services.

Ben Welle, Director of Integrated Transport and Innovation at World Resources Institute’s Ross Center for Sustainable Cities, said: “Cities are in need of innovations to foster sustainable mobility that reduces emissions, improves health, and increases access to jobs and opportunity for all. The Sustainable Cities Challenge is an excellent opportunity for cities globally to build capacity and support innovators to work hand in hand with officials.”
To find out more and to enter, visit the Sustainable Cities Challenge website.

LONDON | New Delhi, 23rd June 2023: Tata Consultancy Services (TCS) BSE: 532540, NSE: TCS) and Nest, UK’s largest workplace pension scheme, announced the expansion of their long-standing partnership to focus on digitally transforming Nest’s scheme administration services, delivering enhanced member experiences and furthering the scheme’s mission of delivering better retirement outcomes for people across the UK.

Nest and TCS have worked closely since 2011 when the digital, auto-enrolment pension scheme was first launched. Responsible for end-to-end administration services across all aspects of the scheme, TCS built a greenfield operation with a user-friendly, multi-channel, self-serve model, and a robust core that easily scaled as Nest became the provider for millions of workers saving for their retirements.

As part of the partnership, TCS will help Nest transform the administration services using a future-ready, digitally enabled, omnichannel platform powered by TCS BaNCS™. Its digital-first architecture provides APIs to enable easy integration with ecosystem partners, such as payroll providers and fintechs. It will leverage the latest technologies and data analytics to deliver personalized, self-directed experiences to members. This will enable Nest’s 12 million members and 1 million employers to access the right information at the right time, in the way that suits them best.

“I’m looking forward to continuing our journey with TCS and exploring the opportunities ahead of us. We have a strong foundation after many years of working together and they’ve proven their ability to deliver successfully for a scheme the size and complexity of Nest. This puts us in an excellent position to further advance our operations and build a truly digital offering that delivers a superior customer experience long into the future,” said Gavin Perera-Betts, Chief Customer Officer, Nest. “The interests of our members are always our top priority and drive every decision we make and we’re rightly ambitious about what we can achieve for them. I’m confident that our partnership with TCS will enable us to develop our world class service to further support millions to enjoy a better retirement.”

“The purpose-driven partnership between Nest and TCS resulted in an immensely successful pension plan for the UK workforce, that is now a global benchmark on how an innovative, user-friendly, auto enrolment pension scheme should be run,” said Vivekanand Ramgopal, President, BFSI Products & Platforms, TCS. “We are delighted to further expand this long-standing partnership with Nest and support them in pushing the boundaries in offering compelling omnichannel member experiences to the new generation of workers entering the workplace. We are looking forward to leveraging our contextual knowledge, technology expertise and proven platform to help Nest realise our shared vision for the future.”

TCS BFSI Platforms is an end-to-end digital ecosystem that powers the journeys of life, pensions/annuities, property/casualty, and health insurance providers. This SaaS-first platform helps companies manage enterprise simplification, deliver superior customer experience, and achieve digital transformation.

National Diaper Bank Network’s recent findings show nearly half of U.S. families with young children struggle to afford diapers.

(St. Louis, Mo., June 23, 2023) — Research recently released by the National Diaper Bank Network (NDBN) reports that 47% of U.S. families with young children struggle to afford diapers. At a local level, the St. Louis Area Diaper Bank reveals it has seen a 25% increase in diaper distribution – approximately 300,000 diapers each year – since 2020.

St. Louis Area Diaper Bank is a member of the NDBN and its sister organization Alliance for Period Supplies, a nationwide nonprofit dedicated to eliminating diaper need and “period poverty” in America. This year the St. Louis Area Diaper Bank – through a network of 70 community organizations, educational and health partners serving low-income families – will distribute 4.1 million diapers to more than 70,000 families in the St. Louis region. Last year the nonprofit distributed 3.3 million diapers in St. Louis.

The NDBN Diaper Check 2023: Diaper Insecurity among U.S. Children and Families is a nationally representative study commissioned by the NDBN. Major findings include:

• A significant increase of 14 percentage points in diaper need since the first study was conducted in 2010.
• Diaper need intersects with food insecurity, and 28% of respondents who reported diaper need said they skipped meals so they could afford more diapers.
• 70% of the respondents reported they were stressed or anxious about their responsibilities as a parent or caregiver. 53% said they felt judged because they could not afford diapers.
• One in four (25%) of parents and caregivers with diaper need reported having to miss work or school because they did not have enough diapers to drop their child off at childcare. They also reported missing an average of 5.1 workdays in the past 30 days, which represents a loss of $296 per month for a parent earning the federal minimum wage of $7.25 per hour.

“This national study solidifies what we are feeling firsthand in our community,” said St. Louis Area Diaper Bank Executive Director Muriel Smith. “It’s time to realize that we are in a public health crisis, one that causes harm to our children and their families. We as a nation must do better to support those who need our help.”

Founded in 2014, the St. Louis Area Diaper Bank provides diaper and period supply access to the region’s low-income families, as well as raises community awareness about the causes and consequences of diaper need and period poverty. For more information, call (314) 624-0888 or visit their website.

SAYA Group will invest Rs2000 + crores to develop & deliver India’s tallest mall, Saya Status, on Noida Expressway. The project spans approx. 1.4 million sq. ft. consists of 9 floors of stunning vertical development and is fully paid-up land.

The development boasts of innovative design and architectural values, offering a range of luxury amenities. It is expected to set new benchmarks in the retail industry and provide a fresh experience to customers. The construction of the project is in full swing, with the mall set to open its doors to visitors in 2025. It has been designed by the globally renowned architectural firm DP Architects, based in Singapore, The brain behind Dubai Mall.

“We are committed to developing Saya Status, India’s tallest mall, into one of the country’s iconic commercial spaces. For this, the company is investing Rs.2000 + crores in the project. SAYA Group is known for its quality construction and timely delivery, which has helped us create a name for ourselves in the real estate industry. We aim to continue delivering excellence with Saya Status. This project is a testament to our passion for innovation and excellence. We are confident that it will set new standards in the retail industry,” Vikas Bhasin, Chairman & Managing Director of Saya Group, said.

This project is expected to set new benchmarks in the retail industry and provide a fresh experience to customers—the launch of the project witnessed participation by thousands of audiences. Saya Group has a track record of delivering quality constructions, prime locations, and timely delivery, which has earned it a name in the real estate industry. The company’s commitment to quality is evident in its completed residential projects, including Saya Gold Avenue, Desire Residency, and Saya Zenith.

Saya Group also has other exciting projects in the pipeline, including Saya Piazza in Jaypee Wish Town and Saya South X in Greater Noida West. Saya Piazza is a premium retail arcade strategically located with a catchment area of over 50,000 families. On the other hand, Saya South X will elevate the retail experience with Premium Business Suites with a diverse selection of luxury brands set against tasteful landscaping. It is located in a bustling and growing neighbourhood with an active community of over 5 lakh residents.

With Saya Status, Saya Group is looking to set new standards in the retail industry and provide an unmatched shopping experience in India. The project promises to offer a perfect blend of style, luxury, and convenience that will leave shoppers impressed.

CHICAGO,23rd June 2023-– The Future Fund LLC, an SEC-registered investment advisor led by Gary Black and David Kalis, announced today the launch of the Future Fund Long/ Short ETF (NYSE: FFLS) on the New York Stock Exchange effective June 21, 2023.

FFLS is a high-conviction, risk-managed long/short strategy that provides the potential to capitalize on key megatrends driving the economy. Portfolio managers Black and Kalis bring decades of investment experience to the Fund and use a deep fundamental research process to select concentrated investments that may profit from emerging technological or social trends and developments. One of only a handful of fundamental-driven long/short ETFs, FFLS fills a gap in the investment marketplace and provides a unique opportunity to invest in a hedged portfolio of leading secular growth companies ideal for today’s choppier economic environment.

“Global forces are impacting businesses, economies, and individuals, and unleashing macro trends that will produce both winners and losers – transformative companies that will capitalize on these trends, and companies that will fail to adopt and be unable to keep up with the leaders,” said Mr. Black. “We believe our deep fundamental research gives us early insight into both long and short opportunities.”

The Future Fund has identified 10 megatrends that have the potential to reshape the structure of industry, including social networking, mobility, e-commerce, AI and automation, big data and security, people living longer, fintech, lifestyle betterment, 24/7 information and entertainment, and climate sustainability. The portfolio managers believe these are the key drivers to long-term secular growth opportunities in the global market.

“Our investment process recognizes the disruptive innovation that is reshaping the economy, and it identifies the transformative companies that will displace legacy industry incumbents in several key sectors,” said Kalis. “We’re looking for companies that will change the world across multiple industries and we believe they will have strong tailwinds for investors.”

As Managing Partner of The Future Fund LLC, Black has extensive experience spanning nearly 30 years in top management positions at some of the most well-respected global investment management firms. As CEO of Aegon Asset Management U.S., he oversaw $120 billion in assets. In 2009, Black launched and managed Black Capital, a top-performing fundamental-based global long/short equity firm. The firm was acquired in 2012 by Calamos Investments, where Black became Global Co-Chief Investment Officer. At Janus Capital Group, he was named CEO in 2006 at age 45 after turning around investment performance as CIO and growing net flows to +$2 billion/year from -$29 billion in outflows in 2004 after the tech bubble burst, market timing charges, and the departure of Janus’ founder and CEO. Prior to Janus, Black was Chief Investment Officer of Equities and a partner at Goldman Sachs Asset Management. Black has an MBA from Harvard Business School and a BS in Economics from The Wharton School of the University of Pennsylvania.

As Partner and co-founder of The Future Fund LLC, Kalis has more than 25 years of experience managing small- and mid-cap growth portfolios and leading investment research teams. Prior to the Future Fund, he founded Curvature Capital Management, LLC, a long/short equity hedge partnership focused on catalyst-driven global equities. Performance for the firm ranked in the top decile of long/short equity hedge funds. At Calamos, Kalis led Growth Equity Strategies responsible for $6 billion in assets in mutual funds, and institutional and separately managed strategies. He also founded and managed another long/short hedge fund partnership, Charis Capital Management LLC, focused on SMID-cap equities. He also worked for Northern Trust Asset Management and Segall Bryant & Hamill. Kalis is a Chartered Financial Analyst, awarded in 1994, and a member of the CFA Society of Chicago. He received a BA in Economics from the University of Michigan.

FFLS is The Future Fund’s second exchange-traded fund. The Future Fund Active ETF (FFND) launched in August 2021.