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ICICI Pru Mutual Fund launches ICICI Prudential Retirement Fund

ICICI Pru Mutual Fund launches ICICI Prudential Retirement Fund

Finance
ICICI Prudential Mutual Fund has launched ‘ICICI Prudential Retirement Fund’, an open ended retirement solution oriented scheme having a lock-in of five years or till retirement age (whichever is earlier). The NFO will open on February 07 and will close on February 21. “The best time to plan for your retirement is when you are young and working. Investing in a long-term mutual fund schemes enable in building a good retirement corpus. It also gives flexibility of Systematic Withdrawal Plan (SWP) to meet regular cash flow needs, post retirement,” says Nimesh Shah, MD & CEO, ICICI Prudential AMC. “Mutual fund is a long-term vehicle to plan for retirement. With costs of living, medical expenses and inflation rising with each passing year, it has become important to plan
Nasdaq Dubai launches Saudi futures in bid to diversify investor offering

Nasdaq Dubai launches Saudi futures in bid to diversify investor offering

Finance
The Nasdaq Dubai on Wednesday launched futures trading on shares of 12 Saudi Arabian companies, its first single stock futures outside of the United Arab Emirates. The move aims to diversify financial offerings to regional and international investors, allowing them to both invest in and trade Saudi companies on the Emirati exchange. The companies now available for futures trading on the Dubai exchange comprise a market capitalization of 794 billion Saudi riyals ($ 212 billion) and cover sectors including real estate, mining, banks, industrial materials and petrochemicals. "This is a very good opportunity for investors out of ...
LIC Mutual Fund launches Arbitrage Fund

LIC Mutual Fund launches Arbitrage Fund

Finance
LIC Mutual Fund launched LIC MF Arbitrage Fund, an open-ended scheme investing in arbitrage opportunities. The new fund offer (NFO) opens on January 4 and will close on January 18. The fund will be managed by Yogesh Patil (Equity) and Marzban Irani (Debt). Investors can make investment in the scheme in a lump sum. The investment objective of the scheme is to generate income by taking advantage of arbitrage opportunity that potentially exist between cash and derivative market and within the derivative segment along with investments in debt securities and money market instruments. The fund manager will use a disciplined quantitative analysis while accessing the arbitrage opportunities. The scheme will hold minimum of 65 per cent in equities and equities related instruments, derivatives incl...
Google's robotic spinoff launches ride-hailing service

Google's robotic spinoff launches ride-hailing service

Technology
Google's self-driving car spinoff is finally ready to try to profit from its nearly decade-old technology. Waymo is introducing a small-scale ride-hailing service in the Phoenix area that will include a human behind the wheel in case the robotic vehicles malfunction. The service debuting Wednesday marks a significant milestone for Waymo, a company that began as a secretive project within Google in 2009. Since then, its cars have robotically logged more 10 million miles on public roads in 25 cities in California, Arizona, Washington, Michigan and Georgia while getting into only a few accidents — mostly fender benders. The company is initially operating the new service cautiously, underscoring the challenges still facing its autonomous vehicles as they navigate around vehicles with h...