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High salaries may look impressive on paper, but they don’t guarantee wealth. What truly matters is how much you save — not how much you earn, says veteran investor Vijay Kedia. In a recent post on X (formerly Twitter), Kedia urged individuals to rethink their lifestyle choices and focus on disciplined saving to build long-term wealth.“Your salary of lakhs doesn't make you a millionaire, your savings of lakhs makes you a millionaire,” Kedia wrote, urging individuals to rethink how they manage money and avoid consumer-driven habits.He criticised the Western philosophy of "live for today," calling it a myth born of consumerism. “There is a theory in America that live for today, tomorrow never comes. This is an abhorrent theory,” he said, pointing out how such thinking leads to financial insecurity. According to Kedia, nearly 40% of Americans don’t have even $1,000 to meet emergencies, largely because saving is not ingrained in their culture.While countries like the US offer social security as a safety net, Kedia argued that relying on governments is no substitute for personal financial planning. Instead, he advocated for building wealth through consistent investments. He offered a simple example: “If you are investing Rs 50,000 per month for 20 years in mutual funds with just a 12% CAGR, it becomes Rs 5 crore. This is simple math.”He advised young earners to reduce discretionary spending — on parties, fashion, and brands — and redirect that money into savings. “The first thing to do is reduce parties, spend less on fashion and brands, and save as much money as possible,” he said.Sharing a thought-provoking quote, Kedia added: “Either you can have a lavish young age or you can have a lavish old age. Always keep this in mind.”Kedia summed it up with a warning that every rupee spent today carries a cost in the future. “If you are spending Rs 50,000 today could mean giving up Rs 5 crore in future value."https://x.com/VijayKedia1/status/1913861402722177050?t=bUUzLLe1nR-9WcjNo4felg&s=08Also Read: Bajaj Finance, IndiGo among 10 largecap stocks where FIIs raised stake in Q4Many Gensols still hiding in the cupboardEarlier, in a separate post, Kedia also weighed in on the recent controversy involving Gensol Engineering, which has been barred by SEBI from accessing capital markets for diverting public funds. "There are many Gensols still hiding in the cupboard, just waiting to tumble out with time," he warned.Kedia hoped by the time these other companies, which he didn't mention explicitly, come out, it’s not too late by then. However, he put out 10 red flags that investors can look out that scream before a scam.Kedia said It’s wiser to be wary of companies that: 1) Talk big and overpromise 2) Maintain constant media presence — through news coverage, hyperactive social media posts, and endless interviews 3) Magnify even the smallest developments 4) Raise funds frequently without clarity on deployment. 5) Diversify into unrelated businesses just to ride trending narratives 6) Overuse flashy buzzwords to sound innovative without real substance. 7) Flaunt lavish promoter lifestyles that don’t match company performance 8) Have high levels of promoter pledging 9) Face frequent exits of key personnel (CFOs, auditors, CXOs) and 10) Engage in excessive related-party transactions.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Reliance Industries (RIL), led by billionaire Mukesh Ambani, will announce its financial results for the quarter and year ended March 31, 2025, at a board meeting scheduled for Friday, April 25.The board will also discuss the possibility of raising funds through the issuance of listed, secured or unsecured, redeemable non-convertible debentures (NCDs) on a private placement basis.Additionally, the board will consider recommending a dividend on equity shares for the financial year ending March 31, 2025.Also Read: IndusInd Bank, Suzlon Energy among 10 mid-cap stocks where FIIs increased stake in Q4In the previous trading session, RIL's stock ended 2.9% higher at Rs 1,274.5 on the BSE. However, in the past year, the stock has declined by over 13%, although it has surged more than 17% in the last two years.In Q3 FY25, Reliance Industries reported a 7% year-on-year (YoY) growth in its consolidated net profit, reaching Rs 18,540 crore. Revenues from operations increased by 7% YoY to Rs 2.43 lakh crore.The oil-to-telecom conglomerate's operating profit, measured as EBITDA, surged nearly 8% to Rs 48,003 crore in Q3, while margins expanded by 10 basis points to 18%.Jio Platforms, the company's digital arm, posted a 26% YoY growth in its net profit, reaching Rs 6,861 crore, while revenues improved by 19% YoY to Rs 38,750 crore.Also Read: 10 Nifty 500 stocks that can soar 75-155% in the next 12 monthsMeanwhile, the O2C business showed strong operating performance, with an EBITDA growth of 2% to Rs 14,402 crore. Revenues for the segment also increased by 6% YoY to Rs 1.49 lakh crore.Reliance Retail, RIL's consumer-facing business, registered a revenue growth of 9% YoY to Rs 90,333 crore in Q3. Sequential growth was even stronger at 18%, driven by productivity improvement initiatives and increased customer engagement during the festive period through new product launches and promotions.As per Trendlyne data, the average target price for RIL stock is Rs 1,550, indicating an upside of 22% from the current market price. The consensus recommendation from 35 analysts is a 'Buy'.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Three weeks after US President Donald Trump effectively declared a trade war with the whole world, new economic forecasts and surveys will point to the initial fallout.A few blocks from the White House, the International Monetary Fund is set to lower its outlook for economic growth in new projections released on Tuesday. 120449982The following day, purchasing manager indexes from Japan to Europe to the US will offer the first coordinated glimpse of manufacturing and services activity since Trump’s global tariffs — now partly on hold — were unleashed on April 2. Business surveys from major economies are also on the calendar.The combined picture is set to offer finance ministers and central bankers assembled in Washington a chance to make initial damage assessments on Trump’s attempt to rewire the global trade system.“Our new growth projections will include notable markdowns, but not recession,” IMF Managing Director Kristalina Georgieva said on Thursday. “We will also see markups to the inflation forecasts for some countries. We will caution that protracted high uncertainty raises the risk of financial-market stress.”What Bloomberg Economics Says:“The IMF’s projections tend to skew optimistic during potentially disruptive crises. In the four large crises we studied, the fund’s initial assessment of the immediate impact on global growth understated it by 0.5 percentage points. However much the IMF may downgrade the growth forecasts to start, history suggests the ultimate blow will be worse.”—Alex Isakov and Adriana Dupita. For full analysis, click hereThose clouds shrouding the global economy are unlikely to lift for a while. Federal Reserve Chair Jerome Powell said on Wednesday that the US central bank is is “well positioned to wait for greater clarity” before considering changes to monetary policy, while European Central Bank chief Christine Lagarde couldn’t say whether uncertainty has peaked.In the meantime, Georgieva is hoping the coming days, which also feature a meeting of Group of 20 finance chiefs, might lower the temperature in global trade relations.“We need a more resilient world economy, not a drift to division,” she said. The Washington gatherings “provide a vital forum for dialogue at a vital time.”120449987Elsewhere, central-bank decisions in Russia and Indonesia, a key euro-zone wage indicator, and the Federal Reserve’s Beige Book will be among the highlights.US and CanadaIn the US, investors will watch for any additional deterioration in consumer sentiment and inflation expectations when the University of Michigan issues revised data April data on Friday. Tariffs, and the risk they pose to both the economy and inflation, have been on the mind of survey respondents in recent months.On Wednesday, the Fed’s Beige Book will offer anecdotes of regional economic conditions and provide a glimpse into how much government policy and uncertainty are affecting business decisions.Earlier that day, the government is expected to report a marginal increase in March new-home sales. With mortgage interest rates largely stuck above 6.5% since October, builders have been trying incentives to get buyers off the sidelines. Home resales data will be issued on Thursday.A report on March durable goods orders the same day will help provide clues on business demand for equipment.Neel Kashkari, Alberto Musalem, Christopher Waller and Beth Hammack are among the Fed officials scheduled to speak. Further north, the Canadian election campaign enters its final week, with polls suggesting that Prime Minister Mark Carney’s Liberals are about five points ahead — putting them within reach of a majority government amid a volatile trade war with the US. A key architect of Canada’s response to the US tariffs, trade negotiator Steve Verheul, is set to speak at a conference in Toronto. Retail data for February and a flash estimate for March will reveal whether Canadian consumers pared back their spending for a third straight month amid the trade uncertainty.AsiaIn Asia, the week kicks off with China reporting loan prime rates on Monday; economists predict a steady outcome. Recent data showed growth beating forecasts.120449997Also on Monday, Indonesia publishes trade data for March, which will provide an indicator of the health of the country’s external sector before Trump’s tariffs kicked in, while the Philippines is likely to post another balance-of-payments surplus for March.On Tuesday, New Zealand publishes trade figures for March while Taiwan and Hong Kong report employment data. The following day, Indonesia’s central bank is likely to hold rates for a third straight meeting in an effort to support the rupiah — one of Asia’s worst-performing currencies this year.120450004The same day, preliminary April PMI data for Australia, Japan and India will provide an early look at any impact on the manufacturing and services sectors from the US-led trade war. Malaysia and Singapore publish inflation readings on Wednesday, with South Korean consumer confidence data also due, a day before the country releases advance estimates for first-quarter gross domestic product.On Friday, Japan reveals Tokyo CPI as well as department store sales, while Singapore will see private home prices for the first quarter and industrial production for March.During the week, India and Thailand also report foreign exchange reserves.Europe, Middle East, AfricaWith a holiday on Monday in most of Europe and central bankers gathering for the IMF meetings, most attention will be focused stateside. Numerous policymakers feature on the calendar, including a speech by Bank of England Governor Andrew Bailey on Wednesday. The main focus in the euro zone will be survey reports. Consumer confidence in the region is released on Tuesday, and the ECB publishes its survey of professional forecasters the same day. Its wage tracker due on Wednesday is pointing to slower pay growth, Lagarde said last week after cutting rates. Investors may pay most attention to the PMIs out then too, offering the first glimpse of activity in manufacturing and services since the US tariff onslaught intensified at the start of April. Germany’s closely-watched Ifo survey of business confidence comes on Thursday, showing how sentiment at companies has reacted to trade tensions and, on a more positive note, to the agreement on a federal coalition government. Similar indexes in France are released on Friday. The UK’s PMI reports also come on Wednesday, as will the latest public finance numbers for March. Retail sales data are published on Friday.The Swiss National Bank releases first-quarter earnings on Thursday, and President Martin Schlegel addresses its annual general meeting the following day.Finally, Russia’s central bank will announce its latest monetary decision on Friday. A recent reduction in consumer-price pressures probably isn’t enough to convince policymakers to lower the benchmark from a record 21%. Officials may sound a dovish note, though, for a potential rate cut later this year.Latin AmericaFresh off securing a $20 billion agreement with the IMF, which includes a $12 billion upfront payment, Argentina reports February GDP-proxy data on Tuesday. After contracting for a second year in 2024, South America’s No. 2 economy is seeing a V-shaped recovery and is forecast to lead growth among the region’s big economies this year and next.120450019Colombia will post February economic activity data after January’s GDP-proxy report thumped consensus estimates, prompting some analysts to mark up their 2025 growth forecasts.Paraguay’s central bank may be moved to tighten from the current 6% with inflation up 100 bps in four months, to 4.4%.120450026Brazil posts mid-month inflation data for April on Friday, and if March is any guide, the headline print should push further above the top of the central bank’s target range.Mexico offers up both February economic activity and mid-month consumer price reports.120450040January’s negative GDP-proxy print puts Mexico’s economy on course for a second straight quarterly contraction — meeting the definition of a technical recession.Inflation may hold near the prior reading of 3.93%, just under the top of the central bank’s inflation target ceiling. Banco de Mexico, or Banxico, next meets to consider its benchmark rate — now at 9% — in mid-May.

DHL Express, a division of Germany's Deutsche Post, said it would suspend global business-to-consumer shipments worth over $800 to individuals in the United States from April 21, as U.S. customs regulatory changes have lengthened clearance. The notice on the company website was not dated, but its metadata showed it was compiled on Saturday. DHL blamed the halt on new U.S. customs rules which require formal entry processing on all shipments worth over $800. The minimum had been $2,500 until a change on April 5. DHL said business-to-business shipments would not be suspended but could face delays. Shipments under $800 to either businesses or consumers were not affected by the changes. The move is a temporary measure, the company said in its statement. DHL said last week in response to Reuters questions that it would continue to process shipments from Hong Kong to the United States "in accordance with the applicable customs rules and regulations" and would "work with our customers to help them understand and adapt to the changes that are planned for May 2." That came after Hongkong Post said last week it had suspended mail services for goods sent by sea to the United States, accusing the U.S. of "bullying" after Washington cancelled tariff-free trade provisions for packages from China and Hong Kong.