Latest news with #SIP
The Citizen
8 hours ago
- Business
- The Citizen
Tobacco Bill bans sale of loose cigarettes – informal traders fear bankruptcy
A clause in the Bill bans the sale of single cigarettes, and if a person is found selling a 'loose' cigarette, they can be fined and/or imprisoned. The Tobacco Products and Electronic Delivery Systems Control Bill in South Africa prohibits the sale of single cigarettes (or loose cigarettes), which informal traders say could bankrupt their businesses. It also regulates other aspects of tobacco control, including public smoking, advertising, and packaging requirements. The Portfolio Committee on Health discussed the impact of the Bill on businesses earlier this week. Members have completed public hearings in all provinces and are now taking oral submissions in parliament. ALSO READ: Why is parliament dragging its feet with the Tobacco Bill? Tobacco Bill Mampapatla Madikoto, Limpopo Small, Medium Enterprises and Hawkers Association general secretary, told members of the portfolio committee that the ban on single cigarettes would cripple their operations, as many of their customers not only buy cigarettes but also other items. A clause in the Bill bans the sale of single cigarettes. If a person is found selling a 'loose' cigarette, they can be fined and/or imprisoned. He added that there are many reasons why people decide to buy single cigarettes, including a box being too expensive, or they are trying to control their smoking habit. Display of tobacco products Madikoto added that the clause will affect approximately two million informal traders, hawkers, spaza shop owners and home-based operators across the country. The proposed Control of Tobacco Products and Electronic Delivery Systems Bill aims to strengthen these measures further by introducing even stricter regulations. This includes banning the display of tobacco products at the point of sale, regulating electronic nicotine delivery systems, and potentially moving towards plain packaging. He told the members that the Bill's ban on displaying cigarettes on countertops or tables is impractical. ALSO READ: Tobacco bill won't curb smoking in the least Smoking outdoors The proposed Bill also seeks to hold traders liable if their customers are found smoking near their stalls in outdoor public places that are designated nonsmoking areas. Currently, tobacco legislation prohibits smoking in indoor public places, except for designated smoking areas that can be up to 25% of the indoor area. However, the government is considering a complete ban on smoking in indoor public places and certain outdoor public areas. The owner of the restaurant/pub, or employer, will be responsible for ensuring that the public space designated as a nonsmoking area is smoke-free. Selling online Madoda Khuzwayo, CEO and founder of SIP, told the committee that the Bill discriminates against online shopping. The Bill seeks to ban the sale and offer for sale of tobacco products online. Khuzwayo, who sells alcohol and tobacco products online, said this clause is unfair, as selling such products contributes significantly to his business. He highlighted that online retailers will not be able to list any tobacco products, while larger physical retailers are permitted to do so. ALSO READ: Pressure mounts for government to pass Tobacco Bill Underage smoking One of the reasons for the strict measures is to control underage smoking, which Khuzwayo has addressed in his business. 'When someone buys alcohol or cigarettes through our business, they will need to produce a physical identification document upon delivery, which will be captured into the system. 'But it is close to impossible for underage smoking to be prevented if children need to go into the store to make a purchase, because some look older and there will be no need to ask for proof of identity,' he added. He said the government can check online retailers' data to prove that alcohol and tobacco are not being sold to minors. Additionally, most of the websites that sell these items block minors. Khuzwayo has requested that the government consider removing the clause banning online tobacco sales. He highlighted that without the necessary amendments, the Bill risks discriminating against small and medium enterprises (SMEs), as e-commerce is many SMEs' main source of revenue. 'Without amendments, the Bill entrenches inequality, especially in townships, and excludes emerging small business players,' he said. NOW READ: Budget 3.0: Alcohol and cigarette prices will increase — here's by how much
&w=3840&q=100)
Business Standard
10 hours ago
- Business
- Business Standard
Australia, Singapore, Kenya most curious on investing; India ranks 13th
Are you a saver looking to grow your money? According to a new analysis by forex broker platform BrokerChooser, India ranks 13th globally for online interest in investing. Based on monthly Google search volumes per capita, the study finds that Indian users are especially drawn to stock market queries, reflecting a growing appetite for retail investing among younger generations. The country recorded 2,629 monthly investment-related searches per million residents, with 'stocks' emerging as the top category (1,138 searches), followed by crypto (501), forex (625), and general investing terms like 'investing for beginners' (259). • It surpasses Malaysia's stock-related search volumes by over 50% • However, India still lags behind the global top tier, with Australia, Singapore, and Kenya leading the list with significantly higher search activity. India's youth, stocks and search-driven curiosity BrokerChooser's findings align with broader shifts in India's financial habits. With growing financial uncertainty, younger Indians are actively turning to digital platforms to learn how to invest and diversify income sources. While real estate and gold remain traditional assets, stock market participation is accelerating, fuelled by mobile trading apps, social media finance influencers, and SIP awareness campaigns. Crypto remains a secondary, but notable, area of interest—despite regulatory ambiguity. Monthly searches for cryptocurrency-related terms like 'which crypto to buy now' stood at 501 per million, showing sustained curiosity among tech-savvy users. Australia tops the global chart, but Asia not far behind Australia ranked first globally with 29,359 monthly investment-related searches per million people, driven by interest in stocks (17,654) and crypto (6,691). Singapore came second (22,527), and Kenya third (17,288)—with Kenya notably leading in forex-related search activity. India's position in the middle tier of the rankings suggests a growing but still maturing investing culture, with knowledge gaps and risk aversion acting as key barriers. BrokerChooser's Adam Nasli attributed hesitation globally to lack of confidence and misinformation. 'A lot of people hesitate to make their first move into investing, often held back by fear of making the wrong decision… Once you get past those initial hurdles, smart investing opens up real opportunities to build sustainable wealth,' said Nasli. The report tracks global search interest in five investing categories—crypto, forex, general investing, stocks, and ETFs—offering a digital snapshot of which countries are most eager to build financial literacy and engage in long-term wealth creation. Top 15 countries by investment-related search interest (per one million residents): 1. Australia – 29,359 total searches Crypto: 6,691 Forex: 2,122 General investing: 1,412 Stocks: 17,654 ETFs: 1,478 2. Singapore – 22,527 Crypto: 8,108 Forex: 5,962 General investing: 3,322 Stocks: 3,245 ETFs: 1,891 3. Kenya – 17,288 Crypto: 414 Forex: 16,757 (highest globally) General investing: 38 Stocks: 64 ETFs: 14 4. New Zealand – 16,061 Crypto: 7,112 Forex: 2,371 General investing: 1,361 Stocks: 4,646 ETFs: 571 5. Canada – 14,566 Crypto: 5,044 Forex: 1,601 General investing: 708 Stocks: 5,702 ETFs: 1,510 6. UAE – 13,904 Crypto: 3,552 Forex: 6,161 General investing: 2,142 Stocks: 1,564 ETFs: 485 7. UK – 12,655 Crypto: 4,974 Forex: 2,282 General investing: 1,326 Stocks: 3,331 ETFs: 742 8. Ireland – 11,096 Crypto: 5,011 Forex: 1,262 General investing: 603 Stocks: 3,514 ETFs: 706 9. US – 10,194 Crypto: 3,953 Forex: 1,101 General investing: 930 Stocks: 3,165 ETFs: 1,045 10. Malaysia – 8,589 Crypto: 1,677 Forex: 5,392 General investing: 460 Stocks: 752 ETFs: 307 11. Hong Kong – 8,067 Crypto: 2,427 Forex: 827 General investing: 2,393 Stocks: 960 ETFs: 1,460 12. South Africa – 4,057 Crypto: 710 Forex: 2,749 General investing: 229 Stocks: 276 ETFs: 93 13. India – 2,629 Crypto: 501 Forex: 625 General investing: 259 Stocks: 1,138 ETFs: 106 14. Pakistan – 2,078 Crypto: 398 Forex: 1,325 General investing: 58 Stocks: 285 ETFs: 12 15. Philippines – 1,714 Crypto: 700 Forex: 504 General investing: 120 Stocks: 349 ETFs: 41
Business Insider
11 hours ago
- Business
- Business Insider
Ghanaians protest at Nigerian High Commission over alleged harassment
Hundreds of Ghanaian investors and community members staged a protest outside the Nigerian High Commission in Abuja yesterday, demanding action over alleged "systematic harassment, intimidation, and violation of our fundamental rights" by the Nigeria Police and the Economic and Financial Crimes Commission (EFCC). Ghanaian investors protested outside the Nigerian High Commission in Abuja, citing systematic harassment by Nigerian authorities. The protest highlighted arbitrary arrests and intimidation from the police and EFCC against Ghanaian businesses. A lawsuit was filed at the Federal High Court in Abuja by Ghanaian investors seeking an injunction against further interference. Our businesses are being hounded at every turn, stated Kojo Mensah, a lead developer for the River Park Estate project in Abuja. The investors claim their basic rights are being breached, citing arbitrary arrests, repeated police invitations, and intimidation from both the police and the EFCC. We've been arrested arbitrarily, summoned without cause, and subjected to endless interrogations, yet the very complaints we cooperated to resolve back in 2012 remain buried in some dusty file, he added. Call for intervention Waving banners proclaiming "Hands Off Ghanaian Investors!" and "Tinubu, Mahama: Intervene Now!", the demonstrators called for the immediate dismissal of Inspector General of Police, Mr Kayode Egbetokun. They accuse him of orchestrating targeted attacks on Ghanaian businesses operating in Nigeria. The investors pleaded, We demand that President Bola Tinubu and President John Mahama use every diplomatic channel to stop this injustice. Legal action initiated The protest follows the filing of a lawsuit at the Federal High Court in Abuja by Jonah Capital and its co-plaintiffs, naming IGP Egbetokun, the Nigeria Police, and the EFCC as defendants. The plaintiffs are seeking a perpetual injunction to prevent both agencies from any further interference in the River Park Estate matter, the immediate disclosure of a long-overdue Special Investigation Panel (SIP) report, and the sum of N200m in damages for alleged breaches of their constitutional rights. According to the plaintiffs, the lawsuit aims not only to secure redress but also to protect the integrity of foreign investments in Nigeria and deter what they describe as state-sponsored intimidation of legitimate investors.
Time of India
12 hours ago
- Business
- Time of India
Global market volatility dents net inflows in equity mutual funds to drop by 22% in May: ICRA Analytics
The net inflows into equity mutual funds were Rs 19,013.12 crore in May against Rs 24,269 crore in April. The net flow in equity-oriented funds witnessed MoM fall of 21.66% and a YoY decline of 45.20%, which can be attributed to the rising global volatility that has been worsened by geopolitical tensions stemming from India's Operation Sindoor against Pakistan and ongoing worries about global inflation. Additionally, net inflow in Domestic ETFs (other than Gold ETFs) fell 78.55% MoM in May-25 after touching an all-time high of Rs. 19,057 crore in Apr-25, according to a release by ICRA Analytics. Also Read | ITC and Cochin Shipyard among stocks that Quant Mid Cap Fund bought and sold in May Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » The assets under management (AUM) of the Indian mutual fund industry grew on a year-on-year basis by 22.55% in May 2025 to Rs 72.20 trillion. AUM of open-ended growth/equity-oriented schemes witnessed the highest YoY growth of 26.21% in May-25, closely followed by other open-ended schemes (24.45%) and hybrid schemes (22.12%). Other schemes comprise index funds , ETFs and FoF investing overseas, according to data from the Association of Mutual Funds in India (AMFI). Live Events Under the equity category, AUM of sectoral/thematic funds witnessed the maximum YoY growth of 45.99%, followed by multi-cap funds, which grew 40.37%. In the debt space, the AUM of the long duration scheme category rose 53.15% YoY followed by the money market (44.49%) and ultra short duration (32.51%) categories. Within the index funds and ETF space, the Gold ETF schemes grew 97.08% YoY in May-25 to Rs 62,453 crore, followed by a modest growth of 30.95% in index funds over the same period to Rs 3 lakh crore. The number of folios grew YoY as on May 2025 by 28.15%. This growth can be attributed to other schemes for which folios over the year grew by 43.29% while that of equity schemes grew by 28.80%. Meanwhile, folio count for debt-oriented schemes witnessed a YoY uptick of 0.89%. The total number of outstanding SIP accounts grew 3% over the year to 905.57 lakhs in May 2025 from 875.89 lakhs in the same period of the previous year. The number of contributing SIP accounts grew 30% from May 2025 to 856.00 lakhs in May 2025. Also Read | Money market funds outshine liquid & overnight funds in May. Time to rethink emergency fund strategy? SIP contribution over the year grew 28% to Rs. 26,688 crore in May 2025 from Rs 20,904 crore in the same period of the previous year. SIP AUM increased by 27% over the year in May 2025, while it grew by 5% over the month. SIP AUM as a % of month end AUM stood at 20.24% in May 2025 as compared to 19.57% in May 2024. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
13 hours ago
- Business
- Time of India
Deepak Shenoy's Capitalmind Mutual Fund files its first draft document with Sebi for a flexi cap fund
Deepak Shenoy 's CapitalMind Mutual Fund has filed its first draft document with Sebi to launch a flexi cap fund - Capitalmind Flexi Cap Fund . The fund will be an open-ended dynamic equity scheme investing across large cap, mid cap and small cap stocks. The investment objective of the fund will be to generate long-term capital appreciation by investing predominantly in equity & equity related instruments across market capitalization i.e. large-cap, mid-cap and small-cap stocks. Also Read | ITC and Cochin Shipyard among stocks that Quant Mid Cap Fund bought and sold in May Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Vietnam (Prices May Surprise You) Container House | Search ads Search Now Undo It will be benchmarked against NIFTY 500 TRI and will be managed by Anoop Vijaykumar . The fund will offer regular and direct plans both with growth option only. For each purchase of units through lumpsum / switch-in / Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), exit load on redemption / Systematic Withdrawal Plan (SWP) / Switch-out, will be as: (i) If units redeemed or switched out within 12 months from the date of allotment – 1% of the applicable NAV (ii) If redeemed/switched out after 12 months from the date of allotment, the exit load will be nil. Live Events The minimum application amount for lumpsum investment is Rs 5,000 and in multiples of Re 1 thereafter. For SIP, the minimum amount is Rs 1,000 and in multiples of Re 1 thereafter with a minimum of 6 instalments. The fund will allocate 65-100% in equity and equity related instruments of large cap, mid cap and small cap companies, 0-35% in debt securities & money market instruments (including cash & cash equivalents), 0-10% in units issued by REITs and INVITs, and 0-5% in units of mutual fund scheme. The investment objective of the scheme is to generate long-term capital appreciation by investing in equity and equity-related instruments across market capitalizations. We employ a rule-based active approach using proprietary rule sets developed through an analysis of market, macroeconomic, and fundamental factors. Also Read | Money market funds outshine liquid & overnight funds in May. Time to rethink emergency fund strategy? 'Our equity allocation decisions are data-driven, based on objective market variables, including but not limited to macroeconomic variables, current equity market valuations and interest rates. Final investment decisions will be taken by the Fund Manager(s) based on the data referenced above, but may also be based on specific subjective analysis of underlying securities,' the fund house said in the draft document. Stock selection and weighting utilize quantitative factor-based methodologies designed to achieve a balanced mix of attributes that support long-term performance within defined risk parameters. A factor represents any quantifiable attribute that significantly explains the risk and/or return characteristics of a security. The Scheme may employ single factors or combinations to enhance diversification and risk control. According to the draft document, the scheme will be suitable for investors who are seeking - long term wealth creation and investment predominantly in equity and equity related instruments across large cap, mid cap and small cap stocks.
