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IDEAS 2024) to export defence products and equipment including advanced drones, fighter jets, commercial and logistic ships, electronic warfare equipment, and radars, Ministry of Defence Production Secretary Lt Gen (Retd) Chiragh Haider told PTI. Haider said the 12th edition of IDEAS held last week amidst tight security in Karachi was a big success and ended with a lot of potential export agreements.

From Toronto-Dominion Bank’s growth restrictions to Donald Trump’s election in the United States to the drastic reduction in immigration numbers in Canada, a lot has changed since the Big Six banks’ last quarterly earnings release in August.

Oil and Natural Gas Corporation (ONGC) has made four more discoveries since it first made an oil field near Asokenagar in West Bengal six years back but is still awaiting the state government's nod for a petroleum mining lease to develop them, Oil Minister Hardeep Singh Puri said on Thursday. ONGC notified the first Asokenagar discovery in Block WB-ONN-2005/4 on September 24, 2018, Puri said in a written reply to a question in Lok Sabha. The discovery, he said was the outcome of continuous exploration efforts of ONGC in the Bengal sedimentary basin over five decades. As per initial laboratory studies, crude oil, which is refined into fuels like petrol and diesel, discovered in the Ashokenagar discovery is a light variety with American Petroleum Institute (API) gravity of 40-41 degrees and is almost similar to Bombay High and Brent Crude.

sugar industry. NFCSF President Harshvardhan Patil warned that the «misinformation» could potentially disrupt sugar sales, particularly among major buyers like Coca-Cola and Pepsi, who might be pressured to avoid purchasing sugar from Maharashtra and Gujarat. «The media report is far from ground realities,» Patil told reporters, emphasising that the federation has already reached out to the US Consulate, Union Home Ministry, and Prime Minister's Office. An investigation is currently underway. Explaining the unique harvesting practices, Patil highlighted the difference between southern and northern states. In Maharashtra and Gujarat, manual harvesting remains prevalent, with skilled workers supplied by middlemen called 'mokadam' who are responsible for recruiting and transporting labourers.

Hartmut Issel, Head Equity & Credit APAC, CIO WM, UBS Wealth Management, says they would steer more towards the largecap side. Valuation growth, risk reward look better on this level. Within sectors, consumers at zero growth is a very clear opportunity. Financials also, especially banks, provide opportunity as they have been a bit of a laggard for the longest time. They may stay away from the two-wheeler space as many of these companies have just peaked in terms of revenue or earnings momentum and that is probably going to be a multi-quarter trajectory.

State Bank of India, are reviewing their exposure to Adani Group and examining whether they need to tighten their due diligence when offering new loans to them, after the U.S. accused Chairman Gautam Adani of bribery, eight bankers said. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have a relatively smaller exposure to the group, are also undertaking a similar exercise. A review would not necessarily entail any change in the lenders' credit approach with regards to the group.

India's global trade story has long been shaped by its relationships with two of its largest partners: the United States and China. While these relationships have grown significantly over the past decade, they show stark contrasts that often remain as lesser-known facts, at least like Crisil called it in an investr note. India’s trade with the U.S. and China reached $120 billion and $118 billion respectively in fiscal 2024, doubling over the last decade. However, the similarity ends here, Crisil said, as it notes hat India has a $35.3 billion trade surplus with the U.S., while it faces an $85.1 billion trade deficit with China.

Prabhudas Lilladher in its latest India Strategy Report while slashing its base case target for Nifty to 27,381 (27,867 earlier), recommending selective buying on dips for long-term gains. The domestic brokerage values Nifty at a 15-year average PE (19.1x) with Sept 26 EPS of 1,434 and arrives at a 12-month target of 27,381 (27,867 earlier), while in a bull case scenario, it values Nifty at PE of 20.1x and arrives at a bull case target of 28,750 from an earlier 29,260.

Higher interest rates should help prevent NIM contraction, and higher inflation could drive credit growth by an additional 100-150 bps, says Santosh Pandey, President & Head at Nuvama Professional Clients Group. Banks are currently trading at reasonable valuations, Pandey said as he opines that higher interest rates could benefit banking stocks, assuming no major surprises in asset quality. Excerpts:

Subscribe to enjoy similar stories. Mumbai: International Holding Company (IHC), the investment arm of Abu Dhabi's ruling family, has become the second major investor to reaffirm its faith in the Adani Group after its chairman Gautam Adani was indicted by US federal prosecutors for allegedly bribing Indian government officials. "At IHC, our investment strategy is guided by a commitment to long-term growth and sustainability.

Subscribe to enjoy similar stories. On 29 June 2023, the US Supreme Court ended the use of affirmative action, ruling that race could no longer be considered a factor in university admissions. This order reversed a two-decade-old Supreme Court decision that upheld the University of Michigan Law School’s policy of giving weightage to race as a factor in assembling a diverse student body.

Subscribe to enjoy similar stories. Charles talks too much.

An angry Rudy Giuliani lost his cool in the courtroom Tuesday, lashing out at the judge overseeing his defamation payout, saying “I can’t pay my bills.”

Indian Diaspora Studies (FIIDS), an Indian-American organisation, has urged US leaders to address the rising violence against minorities in Bangladesh. In letters sent separately to President Joe Biden and former President Donald Trump, FIIDS raised concerns about the safety of minorities, particularly Hindus, in the country. Khanderao Kand, FIIDS President, in his letter to Donald Trump, wrote, «Bangladesh is rapidly descending into a radicalised Islamic state, all under the watch of the US, the State Department, and the UN who must act now to restore democracy and protect minorities. I request not only President Biden but would urge President Trump and his transition team to give priority to restoration of peace and protect minorities in Bangladesh.» In another letter addressed to President Biden, Kand emphasised the importance of protecting vulnerable populations for Bangladesh's democratic progress. He stated, «Bangladesh's progress as a democratic and inclusive society depends on safeguarding the rights of all its citizens, including its most vulnerable populations. We trust that your leadership will champion these values and help restore hope for those who continue to face oppression and displacement.»

Dr Reddy's Laboratories on Thursday said it has launched Toripalimab, a drug for the treatment of recurrent or metastatic nasopharyngeal carcinoma in India. Nasopharyngeal carcinoma (NPC) is a rare, aggressive form of head and neck cancer that originates in the nasopharynx, the upper part of the throat. The company has launched Toripalimab, a new biological entity (NBE), Dr Reddy's Laboratories said in a regulatory filing. The medication is the only immuno-oncology drug approved by various regulatory authorities around the world such as the US Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC), it added.

Pony AI rose about 15% in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms. The company's depositary shares opened at $15 in their Nasdaq debut, compared with the IPO price of $13. The IPO comes after nearly two years of uncertainty following Didi Global's delisting amid regulatory backlash in China, with Beijing easing tensions by resolving a long-standing audit dispute with the US accounting watchdog in December 2022.

The difficulty of trying to crack $100,000 for the first time «could convince traders that the top is in, and profits should be locked in now,» wrote Noelle Acheson, author of the Crypto Is Macro Now newsletter. However, any such episode should be «fleeting,» she added.

South Korea’s central bank has lowered its key policy rate for the second straight month and says the country’s economy will grow at a slower pace than it initially anticipated

In its first detailed argument to the San Francisco-based 9th US Circuit Court of Appeals, Google said the trial judge made legal errors that unfairly benefited the plaintiff, «Fortnite» maker Epic Games. Requiring a «dramatic redesign» of Google Play and its mobile-device operating system Android will hurt app developers and consumers, Google said in its court filing.

Mark Zuckerberg met Wednesday with President-elect Donald Trump in a rare face-to-face encounter, the latest attempt by the Meta CEO to establish a positive rapport with Trump. The meeting, confirmed by three people with knowledge of the matter, was initiated by Zuckerberg, who has had a strained relationship with Trump over the past decade. Trump, who has long maintained that Meta has unfairly restrained him and other conservatives across its social media apps, has lobbed broadsides against Zuckerberg on social media and during stump speeches. Zuckerberg flew in to West Palm Beach, Florida, on Tuesday evening before joining Trump at his hotel and club, Mar-a-Lago, on Wednesday, according to the people, who spoke on the condition of anonymity because they were not authorised to discuss the meeting. The two men largely exchanged pleasantries, with Zuckerberg congratulating Trump on winning the presidency.

Erik Solheim, former Executive Director of the UN Environment Programme, has strongly criticised the US government's recent report accusing individuals connected to the Adani Group of discussing bribes to secure solar energy contracts in India. The report has sparked global debate, and Solheim has labelled it a clear case of «American overreach.» He further questioned, «When will American overreach stop?» as he addressed the media coverage of the case. The US report alleges that certain Adani Group-linked individuals had discussed bribes to secure contracts. However, Solheim pointed out that these claims lack substantive evidence of actual bribe payments or involvement from top Adani leaders. Solheim added that such actions by the US government could not only undermine India's energy transition but also harm one of its largest economic drivers.