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Hindalco Industries Limited on Tuesday said it has signed a technology partnership with Italy-based Metra SpA, to bring latest aluminium extrusion technology to India for building rail coaches. The company will set up an extrusion press in the country as part of the ₹2,000 crore investment that Kumar Mangalam Birla, chairman of the company, had announced during the company’s 64th annual general meeting (AGM) last month. “We are even more excited to partner Indian railways and the passenger coach manufacturing ecosystem for the ambitious high-speed Vande Bharat trains.

Everton Football Club is close to an agreement to be acquired by 777 Partners following months of talks between the parties, according to a person with knowledge of the matter.

NEW DELHI : India and Saudi Arabia agreed to link their power grids, underscoring a deepening energy alliance that could significantly boost the reliability of power grids in both countries and foster economic development. The agreement on linking power grids follows another more expansive infrastructure connectivity project plan to develop an India-Middle East-Europe economic corridor. The project, announced on 9 September during the G20 summit, envisages a rail and shipping corridor connecting India, the United Arab Emirates (UAE), Saudi Arabia, the European Union, France, Italy, Germany and the US.

China said on Monday that it welcomes the India-Middle East-Europe Economic Corridor announced on the sidelines of the G20 summit so long it doesn't become a «geopolitical tool», even as it downplayed Italy's plan to pull out of its Belt and Road Initiative (BRI). China welcomes all initiatives that truly help developing countries build infrastructure and sincere efforts to promote connectivity and common development, the Chinese Foreign Ministry said. «At the same time, we advocate that various connectivity initiatives should be open, inclusive, and form synergy, and should not become geopolitical tools,» the ministry said in a written response to PTI to a question on China's reaction to the new corridor. On Saturday, Prime Minister Narendra Modi announced plans to launch the India-Middle East-Europe Economic Corridor which includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US. «Today we all have reached an important and historic partnership. In the coming times, it will be a major medium of economic integration between India, West Asia and Europe,» Modi said.

Investing.com — European stock markets traded higher Monday, with investors cautiously awaiting the latest policy-setting meeting by the European Central Bank later in the week.

By Giuseppe Fonte

India-Middle East-Europe Economic Corridor announced on the sidelines of the G20 Leaders' Summit is expected to be a game-changer project and provide a huge boost to global trade, said EEPC. India expects this corridor to be economically more viable than China's flagship Belt and Road Initiative (BRI). TheUS, UAE, Saudi Arabia, European Union (EU), Italy, France and Germany were brought together on the economic corridor agreement on the sidelines of the G20 Summit. The US-backed corridor seeks to connect India with Europe via the Middle East by sea and port.

As India handed over the G20 Presidency to Brazil, the member nations have committed to harnessing artificial intelligence (AI) technology in a responsible manner in addition to planning for a future involving crypto assets and central bank digital currencies (CBDC).

C shares in the vehicle performed better, down 19.4% over H1, although the discount to net asset value deepened to 50.4%.

Ircon International share price surged 19.3% to touch a 52-week high of ₹159.25 apiece, Rail Vikas Nigam share price jumped 17.6% to hit a 52-week high of ₹191.40 apiece, and Indian Railway Finance Corporation (IRFC)share price rose 10% to touch a 52-week high of ₹84.76 apiece on BSE. According to to Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One, these railways stocks have seen strong traction in the September month as Ircon International stock is up by 38% , Rail Vikas Nigam is up by 41% and IRFC stock is up by 68%, respectively. The momentum is strongly in favours of bulls but post a strong move in just 10 day, the indicators are in overbought.

Narendra Modi, and other ministers during the event. “I am very glad to be here in India. I want to congratulate India for the G20 Summit...A lot of announcements have been made that will benefit G20 countries and the world.

G20 Summit drew to a close. The two day event involving the world's biggest economies was hosted in New Delhi amid an increasingly convoluted geopolitical landscape. Indeed the successful adoption of the G20 Leaders' Declaration has been dubbed a ‘coup’ for host PM Modi.

The G20 Summit under India’s presidency succeeded in bringing Africa to the table, put the spotlight on climate action and focused on the reform of multilateral development banks, among other key achievements, International Monetary Fund (IMF) managing director Kristalina Georgieva said in an interview to ET. Edited excerpts:What are the key takeaways from India’s G20 presidency? India brought the G20 together, but it did more than that. It invited countries and international organisations; so, we can say the whole world came together. The very first important achievement is the African Union being accepted into G20, which gives a whole continent a voice. I think Prime Minister Modi and the rest of G20 did the right thing to welcome that voice. Second, the Indian presidency brought up ambition on climate action. There was a much stronger sense of urgency to move. Third, on financing, the Indian presidency advanced reform of multilateral development banks and the World Bank, and brought the role of these institutions — as mobilisers of private finance — much more in focus. Four, we have seen the India presidency rallying everybody, (which brought) pledges for lending special drawing rights through IMF to vulnerable middle- and low-income countries to fruition. It started with the Italian presidency, moved to the Indonesian presidency, and now, the pledge has materialised. That means more resources for developing countries.

Narendra Modi as an agreement signed with the US, the UAE, Saudi Arabia, France, Germany, Italy and the EU Commission, we have hope that such a modern “Silk Route" can get the better of China’s Belt and Road Initiative. For one, the logic here is trade connectivity, not loan entrapment or power projection by anyone.

MERSIN, Turkey (Reuters) — Rescuers raced on Sunday to rescue an American caver who had become trapped more than 1,000 metres (3,300 ft) underground in southern Turkey, moving him halfway to the surface.

G20 Summit, sharing working space at the International Media Centre for the last three days made them experience the spirt of «one family». From September 8-10, scribes and camerapersons from Italy to Singapore and Turkiye to Brazil worked from the facility at the newly built Bharat Mandapam — the summit's venue. In between work, they chatted over cups of coffee and Indian meals, and also learned about cultures of different countries from each other. «The G20 theme is 'one world, one family, one future', and all of us have been working with one aim in one space, under one roof.

China's Belt and Road investment plan, Italian Prime Minister Giorgia Meloni said Sunday, but doing so would not damage bilateral relations. «We have yet to make a decision,» Meloni told a press conference at the close of the G20 summit in New Delhi, a day after meeting for talks with Chinese Premier Li Qiang. Should Rome decide to quit, it «would not compromise relations» with China, Meloni said. Critics say the Belt and Road plan is a Trojan horse to increase China's influence and Meloni is under pressure to exit, but hopes to do so without inflaming tensions. The deal automatically renews in March 2024 unless Italy opts out by the end of this year. Meloni said the government was «evaluating the merits» of being part of the trillion-dollar investment scheme, which debt-ridden Italy joined in 2019. It is the only one of the group of leading developed democracies to have signed up. Italian Foreign Minister Antonio Tajani said earlier this month that the Belt and Road initiative «has not produced the results we were hoping for». The Italian PM is tipped to travel to Beijing for a state visit in the next few months, or at the start of next year, but would not be drawn on a possible date. «It makes more sense to go to China when we have more elements about our bilateral cooperation and how to develop it,» she said. Meloni's meeting with Li, their first face-to-face, came as a broad alliance of states at the G20 unveiled ambitious plans to create a modern-day Spice Route linking Europe, the Middle East and India, which signatories hope will offer a counterbalance to lavish Chinese infrastructure spending. Some analysts expect Meloni to pull out of Belt and Road while boosting other existing Italy-China accords. The meeting

New Delhi: India’s presidency of G20 or the Group of 20 has been able to bring all member countries to the table on the issue of war in Ukraine and brought to the fore the voice of the emerging markets as moderators, said foreign policy experts, highlighting the country's heritage as the voice of reason. The New Delhi Declaration issued on the first day of the two-day G20 Summit set the direction of future negotiations on important economic issues including climate financing which has for the first time put $5.9 trillion number to the green financing requirements for developing countries, reforms in multilateral banks, international taxation and sustainable development.

Giorgia Meloni, reportedly on Saturday, privately signalled to China's Premier Li Qiang that Italy is seeking to exit the Belts and Roads Initiative (BRI) agreement was signed four years ago. Earlier in July this year, Italy's Defence Minister Guido Crosetto has said that the BRI was an "improvised and atrocious" made by Italy while signing with China.

G20 Summit 2023: The G20 Summit has entered its final day today i.e. on 10 September. Prime Minister Narendra Modi will hold various meetings with eight global leaders including French President Emmanuel Macron, Canadian PM Justin Trudeau, Comoros, Turkey, UAE, South Korea, etc.