India Financial News

TV Somanathan as the Cabinet Secretary of India. Somanathan who is currently the Finance Secretary of India will remain in office for a tenure of two years, starting August 30. He will discharge the duty of Officer on Special Duty in the Cabinet Secretariat from the date he joins the assignment till he takes over as the Cabinet Secretary. He was previously Joint Secretary, Ministry of Corporate Affairs (2010-11), and Joint Secretary/ Additional Secretary to the Prime Minister from 2015 to 2017.

Amit Shah on Saturday called on sugar mills to explore alternatives to sugarcane for ethanol production, pushing for a multidimensional approach to biofuel manufacturing. Speaking at an event organised by the National Federation of Cooperative Sugar Factories (NFCSF), Shah said: «The target set for ethanol blending of 20 per cent is 2030. We will achieve the target in 2025-26.» The minister highlighted that the government's ethanol blending programme has helped reduce the country's crude oil import bill and address environmental concerns. Shah emphasised the need for sugar mills to adopt a forward-looking approach, stating, «You need to be futuristic and look at opportunities and expand. ...ethanol can be made from multiple sources.»

Narendra Modi on Saturday spoke to wrestler Aman Sehrawat and congratulated him for clinching the bronze medal in the men's freestyle 57 kg wrestling event at the Paris Olympics. Sehrawat overcoming adversity to stand on the podium on Friday touched an emotional chord with PM Modi. The 21-year-old 57kg free-style grappler, who was raised by his grandfather after he lost his parents as a child, defeated Puerto Rico's Darian Cruz in a high-intensity third-place contest to become India's youngest medallist at the Olympics.

Howl’s Moving Castle (2004), wizard Howl cooks a breakfast of fried eggs and fatty bacon and serves it with a sourdough slice to Sophie and Markl. The meal was simple but hearty and had an instant visual connection with the audience. To bring this connection to life, Bento Bento will be serving Studio Ghibli classics such as Satsuki’s Bento Box from My Neighbor Totoro (1988), ramen from Ponyo (2008), onigiri from Spirited Away (2001) and of course, Howl’s breakfast.

global factors like sharper-than-expected weakening of the US labor market, unwinding of Yen carry trades and rising geopolitical tensions in the Middle East, FIIs withdrew $1.3 billion from the Indian stock market in the week. However, buying of around $2.2 billion worth of equities by domestic institutional investors last week limited the downside on Dalal Street. Sensex ended 1.6% lower on a weekly basis as global markets recouped losses after ' Black Monday' sell-off.

health insurance claims in Mumbai are due to seasonal infectious diseases, according to insurers. These ailments include vector-borne diseases like dengue and malaria, which see a spike in claims during July and August, and water-borne infections such as gastroenteritis, reported TOI. In winter, common claims arise from conditions like bronchitis and influenza. Many of these claims are linked to local hygiene conditions and could be largely avoidable. Health insurance claims data analyzed by Policybazaar reveals that mosquito-borne diseases such as dengue and malaria constitute 15% of all seasonal illness claims. The typical treatment costs for these diseases range from Rs 50,000 to Rs 1,50,000. The claims for these ailments notably increase in July and August due to the humid conditions conducive to mosquito breeding. Monsoon season also sees a rise in gastroenteritis, accounting for 18% of seasonal claims. The treatment costs for gastroenteritis are similar to those for malaria. Additionally, allergic reactions, which vary by region, contribute to another 10% of seasonal illness claims.

Paris Olympics 2024: The world is eagerly awaiting the much-anticipated closing ceremony. Scheduled to take place at the iconic Stade de France, this event will not only mark the culmination of weeks of thrilling competition but also signal the countdown to the 2028 Summer Games in Los Angeles. In an exciting development, Team India has announced that veteran hockey goalkeeper PR Sreejesh and acclaimed shooter Manu Bhaker will have the honour of carrying the Indian flag during the Paris Olympics 2024 Closing Ceremony. Sreejesh played a pivotal role in India's campaign, making crucial saves against Australia during the group stage and in the penalty shootout against Great Britain in the quarterfinals. His outstanding performance continued in the bronze medal match, where his sensational saves secured India's victory. Alongside him, Manu Bhaker, who earned two bronze medals in Paris, will share the flag-bearing duties.

I wrote a lament in this column regarding a number of excellent watch brands not being available in India. Amongst these, I counted such great favourites of watch enthusiasts like Tudor and Hamilton. I’d also mentioned some other such bugbears, like the lack of fantastic quartz Timex timepieces such as the Q chronograph and the Q GMT, as well as the mechanical Timex Marlin.

OpenAI has recently announced exciting news for ChatGPT users, particularly those utilizing the free version of the platform. The company is now extending the ability for free users to generate up to two images daily using DALL-E 3, their advanced generative AI model.

India took a significant leap by introducing 8 national high-speed road corridors spanning 936 km. With an investment of Rs 50,655 crore, these corridors are set to revolutionise connectivity and boost economic growth across India, posted MyGovIndia on X, the citizen engagement platform of Government of India. These corridors will not only streamline transportation but also spur economic growth, making them a critical step forward in connecting India like never before.

IndusInd International Holdings (IIHL), the winning bidder to take over Reliance Capital Ltd has transferred Rs 2,750 crore to a designated escrow amount in line with the National Company Law Tribunal (NCLT) directions, one person with the direct knowledge of the transfer said. «The money was received on Saturday morning which is what the court had directed. IIHL has also given a binding term sheet by banks which has details of the loans they will raise to finnance the transaction,» this person said. On Thursday a NCLT bench, comprising Justices Virendrasingh G Bisht and Prabhat Kumar, directed IIHL to implement the resolution plan by August 10 and deposit the equity component of Rs 2,750 crore in an escrow account designated by the committee of creditors (CoC).

ICICI Bank, RailTel, CONCOR and Coal India among a host of other companies are likely to remain in focus next week as they are approaching their record dates for the purpose of dividend, bonus issues and stock split. The record date is the date set by the company to decide the shareholders who are eligible to receive the offer. To be eligible for a buyback offer, bonus issue or a stock split, the shares should be in the demat account on the record date.

Indian Ocean Region (IOR), connecting the Pacific and Atlantic Oceans, is emerging as a critical axis of global trade, skilled young population and geo-economic prosperity. However, this region has witnessed significant transformations in recent years. For instance, China's expanding influence from Bab-el-Mandeb to Strait of Malacca is posing new and unique challenges each passing day. This continues to pose challenges to the Quadrilateral Security Dialogue (Quad) group, whose sole aim is to create a cooperative bulwark against Chinese expansionism and aggressiveness. China’s economic and military might have increased, so has its interest in securing its maritime trade routes and expanding its influence across the Indian Ocean Region (IOR). Here, we are reminded of the quote by Admiral Alfred T Mahan, «whoever controls the seas controls the world». Furthermore, China’s Belt and Road Initiative (BRI) has seen significant investments in port infrastructure and maritime logistics, exemplified by projects like the Djibouti Port in the Horn of Africa, Gwadar Port in Pakistan, and the Hambantota Port in Sri Lanka among others.

The organizers have mostly succeeded in highlighting Paris' beauty during the Games. Beach volleyball was played near the famed Eiffel Tower. However, holding events on the filthy Seine River proved more difficult. The closing ceremony is scheduled to begin at 0030 IST (Monday) and continue slightly more than two hours. It will feature typical features such as the athlete parade and the presentation of the Olympic flag to the 2028 Los Angeles Games organizers.

Reasons to buyReasons to avoidThe Haier Inverter Automatic Washing Machine features a capacity of 8 kg, making it suitable for medium-sized families. The inverter technology ensures energy efficiency and reduced noise levels, offering a convenient washing experience.

Moon River in denim pedal pushers and a terry cloth turban in the 1962 classic Breakfast at Tiffany’s, she sparked not only a fashion revolution—she helped ignite an economic phenomenon. By the 1980s, denim had become a symbol of youth and minimalist style. Read this | When street fighter Manu Chhabria laid siege to Shaw Wallace Lalbhai recognized the potential for India, a country with a rich textile history but hampered by outdated machinery and processes, to make a mark in the global denim market.

India is the country among major global economies that experienced the fastest growth in intangible investment from 2011 to 2020, according to a recent report. The World Intellectual Property Organisation (WIPO) said in its report that India recorded the fastest growth in intangible investments, exceeding countries like Sweden and the US — the two most intensive economies in terms of intangible investment as a share of GDP.

Aishwarya Rai Bachchan, the epitome of ethereal beauty and regal poise, has long been the subject of fascination for millions. The former Miss World, with her captivating smile and arresting eyes, has carved a niche for herself as one of Bollywood's most iconic actresses. But beneath the icy exterior of the quintessential Indian beauty lies a fire that occasionally bursts forth, captivating audiences in unexpected ways. The recent resurgence of rumors about her personal life has once again thrust the actress into the spotlight. However, it's her on-screen persona that continues to intrigue and provoke discussion. While the world is busy speculating about her personal life, let’s delve into the Aishwarya that has ignited the silver screen — the one who isn't afraid to break free from the mold. The actress has often been typecast as the quintessential Indian beauty, a role she has effortlessly embodied. Yet, there have been moments when she has shattered expectations, showcasing a different facet of her personality.

Nitin Gadkari has issued a stern warning to Punjab Chief Minister Bhagwant Mann, stating that the National Highways Authority of India (NHAI) may have to cancel or terminate eight major highway projects in Punjab if the law and order situation does not improve. These projects, valued at Rs 14,288 crore, are under threat due to ongoing security concerns and delays. Gadkari's ultimatum comes in response to recent incidents affecting the construction of the Delhi-Amritsar-Katra Expressway. Reports indicate that engineers and workers have been attacked in Jalandhar and there have been threats of arson and violence against the project camp and staff in Ludhiana. Gadkari emphasised that the cancellation of even one segment of these greenfield corridors could render the entire project ineffective. In his letter to CM Mann, Gadkari outlined serious safety concerns for NHAI officers, contractors, and their employees. He also noted issues with pending land acquisition, and included photos documenting the assaults.

Berlin's newest tourist attraction, a swing on the top of a 40-storey tower block. Billed as the highest swing in Europe, the contraption on top of a hotel next to Berlin's famous TV tower is a novel way to take in the city — with a dose of adrenaline thrown in. Once strapped into a harness, customers are propelled forward so that when they are at the high point of the swing, there is nothing between them and the ground 120 metres (nearly 400 feet) below.

iPhone 16. For starters, the tech giant is expected to switch to a vertical camera layout, similar to the iPhone X or iPhone 12, in favour of the diagonal layout of its predecessor.