India Financial News

minerals security finance network, which aims to «strengthen cooperation and promote information exchange and co-financing» among participating institutions from the Indo-Pacific region and Europe, according to the US State Department. The network will also «advance diverse, secure and sustainable supply chains for critical minerals», the department said in the announcement made on Monday. The development comes amid China's efforts to control supplies of critical minerals worldwide.

Economic Offences Wing (EOW) of the Mumbai Police has commenced a preliminary enquiry (PE) based on a complaint filed by Bollywood producer Vashu Bhagnani against a company linked to Netflix and 12 others, alleging cheating and conspiracy over rights for three films, people in the know told ET. The EOW has summoned executives of Los Gatos Production Services India, the entity through which Netflix reports its content investments in India, they said. Netflix rejected the allegations as «unfounded». According to Bhagnani, he has yet to receive ₹47.37 crore towards subscription-video-on-demand (SVOD) rights he had granted on these films: Hero No 1, Mission Raniganj and Bade Miya Chote Miya. He has named Los Gatos Production Services, Zoo Digital India that provides subtitling, dubbing and media localisation services and 10 executives of the two companies as accused.

Sheikh Hasina government, external affairs minister S Jaishankar met Bangladesh's foreign affairs adviser Touhid Hossain and discussed bilateral ties between the two countries. The meeting between Jaishankar and his Bangladeshi counterpart of the interim government on Monday evening came on the sidelines of the 79th session of the United Nations General Assembly. This was the Indian external affairs minister's first meeting with his Bangladeshi counterpart after an interim government led by Muhammad Yunus Khan took charge following the ouster of Hasina on August 5. Yunus, 84, took oath as the head of the interim government on August 8.

Zelenskyy this year, stressed upon India's consistent approach for reaching a peaceful resolution of the Russia-Ukraine conflict through diplomacy and dialogue as well as engagement between all stakeholders, indicating that Moscow should be part of any peace talks. Modi conveyed to Zelenskyy that India remains open to giving all support within its means to facilitate a lasting and peaceful resolution of the conflict, according to a ministry of external affairs statement issued after the two leaders met in New York on the sidelines of the UN Future Summit on Monday. India has been insisting on Russia's presence in peace talks for durable peace. Later, briefing reporters, foreign secretary Vikram Misri said, «Our prime minister recalled his visit to Kyiv, their discussions on all matters, the bilateral issues, as well as issues surrounding the Russia-Ukraine conflict. President Zelenskyy was very appreciative of India's attention to these issues and said that the prime minister's visit had been highly appreciated. And he thanked the prime minister for efforts that he was making for peace and a pathway to finding a way out of this conflict.»

transition finance, aimed at helping high carbon-emitting industries fund their shift towards decarbonisation at lower interest rates. One of the suggestions made by stakeholders, including banks, is to create a specific fund set up by state-run financial institutions for lending and refinance to smaller and emerging companies, said people aware of the developments. «The proposed fund structure aims to help smaller companies scale up green operations and secure lower-cost credit, tied to meeting specific carbon emissions reduction targets,» said an official, who did not wish to be identified, adding that it would be easier to monitor smaller firms to ensure that they are following norms and not greenwashing.

ticket prices for the Lord's Test involving India and England next summer have been increased again despite a tepid response from the fans for the game against Sri Lanka this season. Lord's owner Marylebone Cricket Club had come in for criticism for the ticket prices for this summer's Test between England and Sri Lanka. The five-match Test series between India and England begins on June 20 with the third game scheduled at Lord's from July 10. The cheapest tickets for the Lord's Test involving India are priced at 90 pounds each and they offer restricted views. For the unrestricted views, the fans will have to shell out anything between 120-175 pounds, reported ESPNcricinfo.

Meghalaya is only the third state in India in area of both health and agriculture, after Uttar Pradesh & Bihar, with whom the Gates Foundation is establishing a partnership. The MoU was signed in the presence of the Chief Minister Conrad K Sangma and Minister of Health & Family Welfare and Agriculture, M Ampareen Lyngdoh. M. Hari Menon Director of the India Country Office at the Gates Foundation, and Sampath Kumar, Principal Secretar Health & Family Welfare Department on behalf of the state signed the MoU.

Gillette India on Tuesday informed that Procter & Gamble Bangladesh has terminated the distribution agreement with the company. Gillette India has received a letter from its distributor, Procter & Gamble Bangladesh, notifying the termination of the distribution agreement with the company, which will be effective December 31, 2024. As a consequence of this termination, the company will have an impact of proportionate drop in net sales under this agreement, according to a regulatory filing from Gillette India. «For the financial year 2023-24, the net sales under the said Distributor Agreement accounted for 2 per cent of the total net sales of the company,» it said.

Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of stakes in Home Credit India Finance by TVS Holdings, STPL, Premji Invest Group as well as other related transactions. The deal includes acquisition of 80.74 per cent, 8.47 per cent and 10.79 per cent of the issued and paid-up share capital of Home Credit by each of TVS Holdings Ltd (TVSH), STPL Trading and Services Pvt Ltd (STPL), and PI Opportunities Fund-II (PIOF), respectively. The regulator also granted its nod for the acquisition of 2.6 per cent, 4.3 per cent, 2.7 per cent, and 90.4 per cent of the equity share capital of STPL by K Gopala Desikan, Anuraag Agarwal, V Ganesh, and GWCF, respectively.

lower tariffs and harmonisation of local norms to boost the trade between the two major global economies. Addressing a session on agro-processing at the 21st Indo-US Economic Summit organised by the Indo-American Chamber of Commerce (IACC), ITC Ltd's Agri-Business Division Vice President of Value Added Products Sanjeev Bisht identified key concerns, including recent Red Sea-related supply chain disruptions, the absence of a free trade agreement, and local quality norms. «If we want to increase exports, we need to understand the quality concerns of that country,» Bisht said, stressing the importance of harmonising standards between India and the US. Bisht also emphasised the need for sustainability and technology integration to boost productivity while reducing ecological impact. He suggested that combining innovations in artificial intelligence with agriculture could open new avenues for growth, an official statement said.

Kanpur (UP): Elaborate security arrangements have been made for the India-Bangladesh second Test match to be played at the International Green Park stadium here scheduled from September 27, a senior official said on Tuesday. An FIR was filed against 20 members of the Akhilesh Bhartiya Hindu Mahasabha on Monday for allegedly organising a 'havan' by obstructing the road before the stadium to protest against atrocities on Hindus in Bangladesh, Additional Commissioner of Police (Law and Order) Harish Chander said. Meanwhile, the players of both the teams arrived here and were escorted to the hotel from Chakeri airport amidst tight security, he said. The teams will hold their practice sessions on Wednesday and Thursday at the Green Park stadium, which is approximately 1,500 metres from the hotel, he added.

Multi Commodity Exchange of India (MCX) has revised transaction fees on futures and contracts effective from October 1, 2024. For futures contracts, the transaction fee will be Rs 2.10 per lakh of turnover value while for options contract, it will be Rs 41.80 per lakh of premium turnover value, MCX said in a circular issued on Tuesday.

Gambhir, wicketkeeper Rishabh Pant, and star batter Virat Kohli arrived at the team hotel in Kanpur ahead of the team's second Test against Bangladesh, beginning on Friday at the Green Park. On Tuesday, Pant, Kohli, and Gambhir were spotted outside the team hotel. Gambhir's stint as the head coach in the Test format began on a triumphant note. In his first Test match as India's head coach, the hosts cruised to a momentous 280-run victory at the MA Chidambaram Stadium in Chennai.

Nathan Lyon feels there is no room for error when bowling to Rishabh Pant, adding that the young India wicketkeeper-batter has a superabundance of talent to tame the best attack in the world. Pant will be an integral part of the Indian batting lineup during the upcoming five-Test Border-Gavaskar series beginning in Perth on November 22. The 26-year-old Pant recently returned to Test cricket after nearly 21 months following a near-fatal car crash in December 2022, and smashed a century against Bangladesh in the first Test at Chennai. «You're bowling against someone like Rishabh Pant, who is electric. He's got all the skills in the world,» Lyon, who has snared 530 Test scalps and will be expected to play a key role in the series against India, told Star Sports.

Swiggy has received approval from the market regulator for its proposed $1.25 billion public issue, according to sources. The Bengaluru-based company had filed draft papers for the IPO with the Securities and Exchange Board of India (Sebi) through the confidential filing route in April this year. Swiggy will now need to file an updated draft red herring prospectus (DRHP) with the market regulator. A 21-day period will be provided for the public to give feedback on the UDRHP before launching the IPO. The IPO is expected to raise Rs 3,750 crore ($450 million) in fresh capital, along with an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million).

equity major Warburg Pincus, on Tuesday divested its entire 8.64 per cent stake in Cartrade Tech for a little over Rs 375 crore via an open market transaction. Cartrade Tech is one of India's largest online classifieds and auto auction platforms. According to the bulk deal data available on the NSE, Highdell Investment sold 40.76 lakh shares, amounting to an 8.64 per cent stake in Cartrade Tech.

Subscribe to enjoy similar stories. SME initial public offerings (IPOs) have been coming thick and fast. According to data from primedatabase, as many as 104 SMEs (small and medium enterprises) have used BSE and the National Stock Exchange’s (NSE) SME platform to raise ₹3,405 crore in FY25 so far.

From power-packed appliances to cutting-edge accessories, Amazon’s annual event celebrates freedom with a flurry of deals that cater to tech enthusiasts and savvy shoppers alike. In this article, we unveil the top offers and help you find the best value on your favorite electronics in this Amazon Sale today. Shoppers with SBI credit or debit cards are in for an extra treat—an instant 10% discount awaits, adding even more savings to your festive shopping spree (T&C apply). Whether you're eyeing the latest accessories or speakers and power banks, these offers bring top-tier smartphones within easy reach, making this Amazon upcoming Sale the perfect time to upgrade your tech without breaking the bank.

corporate travel sector is estimated to grow at 10.1 per cent CAGR to USD 20.8 billion by FY30, driven by tech-enabled, personalised and sustainable solutions, according to a report. Deloitte's report — Exploring India's Corporate Travel Market: Understanding Market Dynamics, TMCs, and User Preferences — is based on interviews of over 45 travel managers and a survey of over 160 corporate travellers from diverse industries and organisations of varying sizes. Entering a transformative phase, betting on new ways of working and technological disruption, India's corporate travel sector is valued at over USD 10.6 billion and is projected to grow at 10.1 per cent CAGR and double to USD 20.8 billion by FY30, the report said. As businesses recalibrate their travel strategies with hybrid work models after the pandemic, India's corporate travel sector underlines the critical role of travel management companies (TMCs) in steering the industry into a new era of innovation, cost efficiency and sustainability, it added.

General Waker-uz-Zaman and his troops stood aside in early August amid raging student-led protests against Hasina, sealing the fate of the veteran politician who resigned after 15 years in power and fled to neighbouring India. In a rare media interview, Zaman told Reuters at his office on Monday that the interim administration led by Nobel laureate Muhammad Yunus had his full support and outlined a pathway to rid the military of political influence.

Sachdev noted that India, under Modi's leadership, is taking a clear and active stance, adding that this shift is notable, as India, an Asian power, is in a position to mediate in a conflict in Europe. While speaking with ANI, Sachdev remarked that Prime Minister Modi's third term has marked a significant shift in India's foreign policy. He said, «Since PM Modi entered his third term, the gear of India's foreign policy has changed. In this changing environment, India has decided it will help solve the world's biggest challenges.»