County Union Financial News

Investigators say a blast that prompted evacuations near Union Pacific's massive railyard in western Nebraska last week appears to be accidental

public health and geopolitical instability that are impeding efforts to address pressing global issues. The theme of the 78th session of the UNGA is “Rebuilding trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress and sustainability for all." Beside President Joe Biden of the United States, none of the leaders of the five permanent members of the Security Council—namely the US, Russia, China, France and Britain—are attending the UNGA session.

That India hosted one of the most successful G20 summits of all under its presidency, that too amid a difficult global geo-political and economic scenario, is commendable. Conducting a G20 summit is like an orchestra, where different ministries, departments and government bodies of the host country work seamlessly under the leadership of the concert-master—in our case, Prime Minister Narendra Modi. With the G20 success, India has shown its skills of coordination, planning and execution to the world.

Irdai Chairman Debasish Panda on Tuesday urged stakeholders in the infrastructure sector to take advantage offered by surety bonds, which complement bank guarantees needed for large scale funding. Surety bond is a type of insurance policy protecting parties involved in a transaction or contract from potential financial losses due to a breach of contract or other types of non-performance. He was speaking at a roundtable organised by Confederation of Indian Industry (CII) and The Infravision Foundation (TIF) on the financing of infrastructure projects in the country as part of the massive push to the sector by the government by allocating Rs 10 lakh crore towards it in the Union Budget 2022-23. The chairman of Insurance Regulatory and Development Authority of India (Irdai) pointed out that India is expected to spend approx Rs 100 lakh crore on infrastructure through the National Infrastructure Pipeline in the next five years. This requires bank guarantees of approximately Rs 90 lakh crore in the next five years, which banks currently do not have capacity for, a CII press release quoted Panda as saying.

Narendra Modi on Monday said that the success of the India's G20 presidency belongs to the country's 1.4 billion people, and not an individual or a political party. Addressing lawmakers on the first day of a five-day special session that kicked off on Monday, Modi described the more than 200 G20 events held in more than 60 locations across the country as "a manifestation of the success of India’s diversity." "India will always feel pride for the inclusion of the African Union in G20 during its presidency", an official statement said quoting from the Prime Minister's speech in Parliament.

NEW DELHI : The union health ministry may shortly notify proposed amendments to rules in order to make good manufacturing practice (GMP) mandatory for all pharmaceutical firms after a spate of scandals linking Indian-made drugs to children’s deaths abroad. With the Indian drugs failing quality checks in other countries, the government recently made GMP mandatory for micro, small and medium enterprises manufacturing drugs.

The chief executive officer of a firm hired by New York City to house and care for hundreds of migrants has resigned abruptly

leadership discussed key strategies for the forthcoming Assembly elections and the highly anticipated 2024 Lok Sabha polls. The initial session of the reconstituted CWC convened on Saturday.

NEW DELHI : The Union health ministry has proposed sweeping changes to its drug licensing programme, aiming for uniformity across India to boost drug safety, after cough syrups made in the country were allegedly linked to the deaths of children overseas, two people familiar with the development said. The proposal also follows a government expert panel emphasizing the need for uniform implementation of documentation and dossier-based approval processes for drugs manufactured in the country to ensure consistent quality and safety.

Read here: India's retail inflation eases to 6.83% in August from 15-month high peak in July; remains above RBI's tolerance band Among states, the inflation rate in Delhi was the lowest of all, while that in Rajasthan was the highest, the data showed. The inflation rate in Delhi for the month of August 2023 was 3.09%, followed by Assam at 4.01% and West Bengal at 4.79%. Inflation rate in the Union Territories of Jammu & Kashmir and Ladakh combined was at 5.45%, while in Chhattisgarh it was 5.52%, data by Press Information Bureau showed.

Fast-food workers in California are poised to get a $20 minimum wage next year under a deal announced Monday between labor unions and the restaurant industry, potentially killing a multimillion-dollar referendum that was slated to go on the state’s November 2024 ballot. Under the deal, state fast-food workers at chains with at least 60 national locations must be paid an hourly wage of $20 as of April 2024. California’s minimum wage is currently set at $15.50, and is poised to rise to $16 an hour in January.

Unions aren’t the force in the U.S. that they used to be. That doesn’t mean they can’t pack a punch.

Stock market today: India has been at the center of the global political and economic discourse for some time now. As the fastest growing large economy in the world, India is viewed with respect among the comity of nations. According to IMF, India will contribute 15 percent to the global GDP growth this year.

₹1,473.09 crore from the market. FII bought shares worth ₹11,469.51 crore and sold around ₹9,996.42 crore in the market. Maintaining a consistent streak, Domestic Institutional Investors (DII) pumped in shares worth ₹366.24 crore in the market.

Jharkhand Mukti Morcha patriarch and former chief minister Shibu Soren was admitted to Sir Gangaram Hospital in New Delhi following health complications, an official said. His son and Jharkhand Chief Minister Hemant Soren accompanied the 79-year-old to the hospital, the official added. The chief minister later returned to Ranchi from where he was to fly to Hazaribag to attend a function but could not do so after his helicopter developed a technical snag, officials said. On Saturday, the chief minister had attended the dinner hosted by President Droupadi Murmu on the occasion of the G20 summit. After attending the dinner, he had posted on X, «Today evening, I had pleasure to attend the G20India2023 official dinner hosted by Hon'ble @rasthtrapatibhavan President Smt Droupadi Murmu Ji.

Nifty hit its fresh record high of 19,992.65 in intraday trade on Monday. Nifty's last all-time high was 19,991.85 which it hit on July 20 this year.

Indian Railway Finance Corporation’s market capitalization cross the Rs 1 lakh crore-mark for the first time ever since the company went public in 2021. Shares of the company were locked in the 10% upper circuit on Monday at Rs 84.80 on the National Stock Exchange. At the lifetime high of Rs 84.80, the stock more than trebled in value from its issue price of Rs 26. Year-to-date, the stock has risen a whopping 158%. The government’s increasing focus on boosting infrastructure spending in the country has played a major role in lifting railway and rail-related stocks on Dalal Street. In the Union Budget for 2023-24 (April-March), the government announced an outlay of Rs 2.40 lakh crore for Indian Railways, which is the highest capital outlay for railways and is 9x over FY14 allocation. The ongoing G20 Summit was nothing less than a shot in the arm as the government announced a shipping and rail transportation corridor linking countries across the Middle East, South Asia and Europe on the sidelines of the Summit in New Delhi over the weekend. The announcement of a new corridor will lead to a comprehensive rail and shipping connectivity network linking US, India, Saudi Arabia and Gulf and Arab states, and European Union. The plan aims to integrate railway routes and port linkages, spanning from India to Europe, traversing through the United Arab Emirates, Saudi Arabia, Jordan, and Israel. Not only IRFC, but all other rail-related stocks danced on Dalal Street on the back of this news. Shares of Rail Vikas Nigam rallied more than 9% while Titagarh Wagons rose 5%.

Narendra Modi on Sunday urged world leaders assembled at the G20 leaders’ summit to make global structures, including the UN Security Council, reflective of current realities. Speaking at a summit session, Modi made India’s claim for permanent membership of the UNSC unambiguous and cautioned that it is a natural law that individuals and institutions that do not adapt to change tend to lose their relevance over time.

Narendra Modi's initiatives to combat climate change, with Japanese Prime Minister Fumio Kishida praising him for the concept of "Mission LiFE", sources said. During the G20 meetings and sessions, several leaders lauded Modi's efforts to tackle climate change and extended support to his initiatives. «India's vision of 'One Earth, One Family, One Future' is a beacon, which infuses hope for humanity — with inclusivity, equity and prosperity for humanity that touches all of us.

call money market by October, central bank Executive Director Ajay Kumar Choudhary said on Sunday. The pilot of the wholesale CBDC, known as the Digital Rupee-Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. «The RBI will introduce the wholesale CBDC in the call market either this month or next month,» Choudhary said on the sidelines of the G20 Leaders' Summit here. The introduction of CBDC was announced in the Union Budget 2022-23 by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act, 1934, were made with the passage of the Finance Bill 2022. The RBI picked nine banks — State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, YES Bank, IDFC First Bank and HSBC — for its pilot project for wholesale CBDC. Besides, the central bank has already rolled out a pilot in the retail version of the CBDC (e-R) on December 1, 2022.

Digital Currency (CBDC) for transactions for interbank borrowing or call money market by this October, Central Bank Executive Director Ajay Kumar Choudhary said on Sunday. Speaking on the sidelines of the G20 Summit here, Choudhary said, “The RBI will introduce the wholesale CBDC in the call market either this month or next month." In November 2022, the pilot of the wholesale CBDC, known as the Digital Rupee-Wholesale (e-W), was launched with the use case being limited to the settlement of secondary market transactions in government securities, according to PTI reports. Finance Minister Nirmala Sitharaman announced the introduction of CBDC in the Union Budget 2022-23 and necessary amendments to the relevant section of the RBI Act, 1934, were made with the passage of the Finance Bill 2022.