City New Delhi Financial News

Narendra Modi and the Bharatiya Janata Party at a car rally organized in Atlanta ahead of the Lok Sabha elections scheduled in seven phases beginning on April 19. More than 150 cars participated in the event. A few days ago, the ‘Overseas Friends of BJP' also organized a similar car rally with over 250 participants in London and Australia.

South China Morning Post has reported. On Saturday, the Ministry published the country’s latest set of “standardised" names which included 11 residential areas, 12 mountains, four rivers, one lake, one mountain pass and a piece of land.

Swiss National Bank became the first major industrial economy to unexpectedly reduce rates, raising the question whether the pivot has finally arrived for more central banks around the world to follow the example of its conservative European counterpart. Ahead of this week's scheduled review meeting of the Monetary Policy Committee (MPC), market watchers and investors are keen to know the timeline for India's rate easing cycle. However, the texture — and driver — of India's robust economic growth rates suggest their wait will perhaps be of some duration. The chances of a rate reduction in the first half of the fiscal year beginning Monday look wafer thin, with policymakers likely waiting for higher neutral rates before nudging the rate lever. The primary reason behind such overwhelmingly short odds on the 'higher-for-longer' rate trajectory is the nature of the ongoing economic expansion, which has made New Delhi a distinct outlier in a rather circumspect world. For more than 30 straight months, the gauges for purchasing managers have stayed in the expansionary mode, while the percolation effects of unprecedented capital expenditure in helping broad-base the texture of economic growth is becoming increasingly evident.

CBI) has recorded the statements of the family members of Azad Yousuf Kumar, a Kashmiri man who was allegedly unwittingly thrust into the Russia-Ukraine conflict after being deceived. The agency recorded their statements recently after filing an FIR against 19 people and visa consultancy firms linked to the exploitation of Indian youth. Azad's elder brother Sajad Ahmed Kumar told PTI that the CBI questioned him about his brother's situation and wanted his presence at their New Delhi office. However, he was unable to comply due to current financial circumstances. Sajad also said the families of 12 other affected Indian men have been contacted by the CBI and they emphasised their desire for the safe return of their loved ones.

Bharat Ratna upon Shri LK Advani Ji. This honour is a recognition of his enduring contributions to our nation's progress.

Tamil Nadu BJP chief K. Annamalai has shed light on India's wavering approach to the Katchatheevu island dispute with Sri Lanka. The decision to cede Katchatheevu has been a source of contention in Tamil Nadu, particularly for fishermen who continue to face arrest by Sri Lankan authorities. As the Lok Sabha elections near, the documents are likely to reignite the debate surrounding the island's ownership and the impact on Indian fishermen. According to a TOI report, the documents show that Sri Lanka is making up for its small size by pursuing the 1.9 square kilometer of territory around 20 km from the Indian beach with tenacity. This is based on claims that New Delhi disputed for decades before finally giving in to. Soon after independence, Ceylon, then known as Sri Lanka, asserted that the Indian Navy, then known as the Royal Indian Navy, could not hold exercises on the island without its consent. The island hosted an exercise by the Ceylon Air Force in October of 1955.

NEW DELHI : Former chief of the UK’s National Cyber Security Centre, Lindy Cameron, is tipped to become the country’s new high commissioner to India. Should her appointment be confirmed, Cameron will be the first woman to serve as the British high commissioner in New Delhi. Alex Ellis, the incumbent British envoy, is expected to demit office shortly and move on to another diplomatic posting.

NEW DELHI : Ongoing tensions in the Taiwan strait can impact Indian exports passing through the region, the domestic semiconductor industry relying on supplies from the area, and the critical undersea cable network anchored there, said Vijay Gokhale, former diplomat and foreign secretary, on Saturday. Speaking at the Mint India Investment Summit 2024, Gokhale emphasized the importance of India using its considerable diplomatic influence to inform the global community about the potential consequences of a US-China conflict and to play a role in averting such a scenario. "India carries substantial diplomatic weight around the world," he remarked.

Arvind Kejriwal's ED summon challenge was listed for April 24. Meanwhile the Income Tax Department has issued a demand notice of ₹1,823 crore to the Congress. A hostage drama in the Netherlands ended peacefully after several hours on Saturday afternoon.

Maldives President Muizzu advised to mend India ties, ‘stop being stubborn’ Since then ties between India and Maldives remained strained. However, last week, the Maldivian President requested New Delhi for debt relief measures. In an interview with local media 'Mihaaru', President Muizzu said that he hopes India will accommodate debt relief measures for the Maldives' in the repayment of the hefty loans taken from the country over consecutive governments.

NEW DELHI : Zee Entertainment Enterprises Ltd said it is overhauling its technology and innovation centre, which includes a pruning of expenses by 50% and a restructuring of its team on the advice of a new management oversight panel. The measures are in line with managing director and chief executive Punit Goenka’s approach to optimise resources and arrive at a cost-effective structure to drive growth, the company said in a statement on Friday. Based on guidance from Zee’s board during the recently conducted monthly management mentorship program, Goenka has pruned the technology centre’s structure by about 50% and streamlined its scope of work, the company said.

India and Ukraine «traditional friends', Ukrainian Foreign Minister Dmytro Kuleba said that Kyiv is looking forward to restoring relations with New Delhi that existed before the conflict, adding that there is much more both the nations can do in the interest of global development and security architecture. He stated that Ukraine will be looking forward to discussing new areas of cooperation with India. At the meeting with External Affairs Minister S Jaishankar, Kuleba stated that Ukraine will be looking forward to discussing new areas of cooperation with India.

NEW DELHI : Chocolates could get more expensive, smaller (although perhaps not noticeably, a typical shrinkflation trait), or simply have less cocoa in them in a few months if cocoa prices aren’t tamed by then. These are the primary options chocolate and candy makers as well as those selling cookies and ice creams are weighing after global cocoa prices touched record highs earlier this week. India imports a significant volume of the primary ingredient that goes into making chocolates.

INDIA Bloc on Friday announced seat sharing in Bihar for the forthcoming Lok Sabha polls starting April 19, 2024. The RJD has been given 26 seats. Meanwhile, Congress and the left bloc received nine and five seats respectively. The INDIA bloc had called a joint press conference in RJD headquarters where Tejashwi Yadav, who is also the Leader of the Opposition in the Assembly, officially announced the number and the names of candidates for all 40 Lok Sabha seats.

Piyush Goyal, Commerce & Industry Minister, in conversation with Navika Kumar of ET Now at the Times Now Summit 2024. Goyal says: “This is an election where national issues and India's future assume the centrestage and not the local issues of the MLAs or of the corporators. It is that recognition that you have to get amongst the voters and I think then you are home and through.” You have moved from Cabinet to candidate. You are set to make a poll debut and will be fighting from Mumbai North in the general elections. How much has life changed for you? Piyush Goyal: What do you mean by “from cabinet to candidate”? I continue to be in the cabinet.

Federal Reserve's commentary and the course of the dollar may dominate global market discussions, but a set of India-focused investors are moving their rupee trading calls to the Chinese yuan from the greenback, with Mint Road seen smoothening swings in exchange rates involving New Delhi's second-largest trade partner. «I have also noticed that since the beginning of the year, there has been a lot of interest in buying Indian rupees, not against the US dollar but against some of the other Asian currencies, especially the RMB (Chinese currency),» said Patrick Law, Head of Asia Pacific Fixed Income, Currencies, and Commodities Trading, Bank of America.

NEW DELHI : With Ajay Devgn’s latest horror film Shaitaan having crossed the ₹130 crore mark in domestic box office collections alone, theatre owners say there is much untapped potential in horror as a genre for Indian films. And with Kartik Aaryan’s Bhool Bhulaiyaa 3 to arrive this Diwali, things could be looking up for the Hindi horror genre. For that matter, Hindi horror movies have been doing rather well in recent times, even though there have not been many releases in the past two years.

NEW DELHI : Former US vice-president Al Gore-headed Generation Investment Management’s Just Climate LLP, and Singapore’s CapitaLand Investment Ltd are among entities exploring an acquisition of Radiance Renewables Pvt. Ltd, two people aware of the development said. The sale of the Eversource Capital-backed company, which operates in the commercial and industrial (C&I) segment, may attract a potential equity value of about $300 million, the people said.

New Delhi: The Food Corporation of India (FCI) has procured over 100,000 tonnes of wheat domestically in the current 2024-25 rabi marketing season after advancing the start of annual purchases by more than a fortnight. The rabi market season runs from April to September. The Centre started procuring wheat on 13 March this year as opposed to the usual 1 April, amid falling stocks.

NEW DELHI : Goldman Sachs joined a clutch of investment firms that are seeing higher potential for India’s economic growth, encouraged by a strong spell of investment as well as manufacturing activity in the country. Goldman Sachs on Thursday raised its forecast for India's economic growth in calendar 2024 to 6.6%, up 10 basis points (bp), on the back of higher investment spending and activity data. Rating agency Moody's earlier this month raised its forecast for India's GDP growth in 2024 to 6.8% from 6.1%, reflecting both global and domestic optimism in the country's economy on the back of robust manufacturing activity and infrastructure spending.

NEW DELHI : Former SpiceJet promoter Kalanithi Maran and KAL Airways moved the Delhi high court seeking fresh contempt proceedings against the low-cost carrier and its chairman, Ajay Singh, due to their failure to adhere to previous court rulings related to the enforcement of an arbitral award. The case pertains to the execution of an arbitral award of ₹579 crore, plus interest, that Maran won in 2018. The court on Thursday issued a notice to SpiceJet in the plea and adjourned hearing in the case to 25 April.