Region European Financial News

Mahantesh Sabarad, Independent Market Expert, says “Europe is where Wipro should have done better. One would have expected a much better performance. So, the root cause does primarily appear to be related to the execution delays. One cannot really comment. I have been able to see the fact sheets as yet properly.” What is your first cut on Wipro? There has been a disappointment in the profit as well as revenue figures? What is your expectation of guidance? Firstly, I have not seen their press release or the numbers per se in terms of the fact sheet. But yes, you did talk about the overall profit dropping on a quarter on quarter basis. That is a big disappointment and that number is substantially lower. Even with the revenues, there seems to be also quarter on quarter quite a bit of a hit. I consider this a very poor result. From a conference call, one would like to understand what has really happened in terms of their execution of orders? Are there any ramp downs that they have faced? Are there any delays that they are facing is the primary question one would like to find an answer for.

ITA Airways has officially received approval to start the integration process into Star Alliance following a verdict by the Star Alliance Chief Executive Board (CEB). Building on its induction into the Lufthansa Group earlier this year, this decision paves the way for its entry into the world’s largest airline alliance. “In early 2026, ITA Airways is expected to officially join the Star Alliance network as a full member. The decision by our Chief Executive Board underscores the strong confidence our members have in ITA Airways. As a gateway for Italy, its addition strengthens our global network, offering seamless and connected journeys to more travellers worldwide," said Star Alliance Chief Executive Officer Theo Panagiotoulias . Joerg Eberhart, CEO and General Manager of ITA Airways, said, “We are excited to join the Star Alliance network and to bring the excellence of Made in Italy into the alliance, further enhancing its global reach. This is a significant milestone in ITA Airways’ growth, and we look forward to offering our customers the future privileges of the world’s largest airline network."

According to the latest Janus Henderson Global Dividend index, global dividends increased 8.2% on an underlying basis, driven primarily by record European payouts and handouts from new dividend payers Alphabet and Meta, two of the Magnificent Seven.  France, Italy, Switzerland and Spain all saw record dividends paid out during Q2 with an all-time high of $204.6bn for the European region, which represented a 7.7% increase year-on-year.  FTSE 'paddling sideways' as dividends propped up by takeovers and buybacks Germany's payouts fell 1.2% year-on-year, however, led by a large cut to ...

AUM of $150 billion) and Singapore-based Mars Growth Capital Partners (AUM $1.5 billion), according to two people familiar with the plans. Others that have set up local operations since this January include South Korea’s sovereign fund KIC, Japan’s Advantage Partners, and Singapore-based Growtheum Capital Partners.

mpox cases are now being reported outside Africa too. Sweden has confirmed its first case of mpox on Thursday just as Pakistan reported three cases. China's customs administration said it will monitor people and goods entering the country for mpox for the next six months. Danish drugmaker Bavarian Nordic said Thursday it was ready to produce up to 10 million doses of its vaccine targeting mpox by 2025, The WHO’s declaration of mpox as a global health emergency aims at galvanizing action and resources to mitigate the spread of the virus.

A major power outage has hit the Western Balkans as the region swelters in an early heat wave that has sent temperatures soaring to up to 40 degrees Celsius, or 104 degrees Fahrenheit

Xi Jinping is due to meet Hungarian Prime Minister Viktor Orban on Thursday, with the war in Ukraine and infrastructure projects high on the agenda, as he makes his third stop on his first European tour in five years. Xi, who arrived in Budapest late on Wednesday, can expect a warm welcome in a country that is an important partner in trade and investment, in contrast with other EU nations that are considering diversifying from China and becoming less dependent on the world's second-largest economy.

Ind-Ra) has released its analysis on the current account balance (CAB) for the third quarter of the fiscal year 2023-24 (3QFY24), projecting a deficit of approximately USD11 billion, equivalent to 1.2 per cent of the Gross Domestic Product (GDP). According to a press release, this forecast represents a marginal increase from the previous quarter's deficit of 1.0 per cent of GDP and marks a year's high, surpassing the deficit recorded in the corresponding quarter of the previous fiscal year (3QFY23: USD16.8 billion, 2.0 per cent of GDP). Sunil Kumar Sinha, Principal Economist at Ind-Ra, expressed expectations for a dip in the current account deficit in the subsequent quarter, attributing this outlook to signs of economic recovery amidst the global economic environment's uncertainties.

Harry Vanderspeigle, a Colorado doctor from a small town, simultaneously conducting a secret mission on Earth.

NEW DELHI : India saw a slump in its tea export earnings during April-November 2023 amid regulatory challenges in Iran, a large market, and due to the ongoing Ukraine crisis impacting exports to the CIS (Commonwealth of Independent States) and Western European region, latest data from the commerce ministry showed. India exported tea worth $531.63 million between April and November 2023, down from $562 million in the year-ago period, according to official data from the Niryat Portal. Geopolitical disturbances, especially in Middle East and Ukraine, subdued economic conditions along with a drop in export prices have led to a decline in export earnings for the commodity, experts said.

Crypto exchange OPNX has obtained a virtual asset service provider license (VASP) in Lithuania, allowing it to provide spot crypto exchange services throughout the European Union, according to a Nov. 8 announcement seen by Cointelegraph.

Bitpanda, the largest European cryptocurrency exchange, has announced that it has secured a license to offer virtual asset services (VASP) in Norway, expanding its regulatory approvals.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Analysts expect the rupee to stay in a narrow range as traders may take cues from retail sales and industrial production data from the US. Data on the US crude weekly inventory, China's GDP, industrial production, UK and European region inflation are also awaited.

Investing.com — European stock markets are expected to edge higher at the open Thursday, benefiting from the strong close on Wall Street overnight as bond yields retreated from recent highs following weaker than expected jobs data.

(Reuters) — Coty (NYSE:COTY) has submitted an application for dual listing of its shares on the Paris Stock Exchange, the company said on Monday, as the CoverGirl cosmetics parent looks to tap into European investor interest.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

By Yantoultra Ngui

China have resulted in India's steel exports falling by a third, but local producers will have a limited impact given robust sales in the domestic markets, experts said. Domestic demand will also help in keeping the price of the alloy stable in the country, they said. China’s steel exports, including to India, have seen a sharp jump in recent months. Its shipments to India, for instance, hit a multi-year high in the June quarter. Chinese mills are also reported to be undercutting other steel producers in terms of prices. This, in turn, has had an impact on exports by Indian steel companies, with countries in the Middle East and Vietnam buying more steel from China. India exported 780,000 tonnes of finished steel and billets a month on average between January and July, as against an average of 1.08 million tonnes a year earlier, data from market intelligence platform SteelMint show.

Uflex Ltd has posted a consolidated loss after tax of Rs 416 crore in the first quarter ended June 30, 2023 impacted by a change in the Forex Policy of the Central Bank of Nigeria. The company had posted a consolidated profit after tax of Rs 375 crore in the same quarter last fiscal, Uflex Ltd said in a statement.

Maheshwari Bandari, economic research analyst at GlobalData, said some indicators highlight economic green shoots in Europe, but economic recovery is uneven.