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MUMBAI/NEW DELHI (Reuters) -India is expected to ban mills from exporting sugar in the next season beginning in October, halting shipments for the first time in seven years, as a lack of rain has cut cane yields, three government sources said. India's absence from the world market would be likely to increase benchmark prices in New York and London that are already trading around multi-year highs, triggering fears of further inflation on global food markets. "Our primary focus is to fulfill local sugar requirements and produce ethanol from surplus sugarcane," said a government source who asked not to be named in line with official rules.

Atlanta on charges related to efforts to overturn then-President Trump's loss in the 2020 presidential election in Georgia. The former New York mayor, was indicted last week along with Trump and 17 others. Fulton County District Attorney Fani Willis said they participated in a wide-ranging conspiracy to subvert the will of the voters after the Republican president lost to Democrat Joe Biden in November 2020.

QIA) agreed to invest ₹8,278 crore ($997 million) in Reliance Retail Ventures (RRVL) at an equity valuation of ₹8.2 lakh crore ($100 billion), making it the single largest investment by the sovereign wealth fund of the gas-rich country in India. RRVL, the holding company of Reliance Retail Ltd (RRL), had diluted 10.1% stake and raised over $6 billion in 2020 from several financial sponsors and sovereign wealth funds (SWFs) such as KKR, General Atlantic, TPG, Silver Lake, L Catterton, Abu Dhabi Investment Authority, Mubadala and Public Investment Fund of Saudi Arabia. QIA and RRVL announced the deal on Wednesday. The capital raise, at a 97% premium to the last round (₹4.2 lakh crore), sets a new valuation benchmark for a larger $3-4 billion raise being planned by RRVL, said people in the know.Europe Meeting The funding round from financial investors including SWFs from South-East Asia is part of a value-unlocking exercise ahead of a planned listing, said people in the know. At $100 billion, RRVL, with over 18,000 stores, will outpace global peers such as Tesco, Carrefour, Uniqlo and JD.com. In India, Reliance Retail, the largest in the segment by sales and profit already, will be almost 3.5 times the value of the largest listed retail chain, Avenue Supermarts, which owns DMart.

Indian stock market is expected to open higher on Thursday following a rally in global peers. Asian shares gained in the morning trade, while US stock ended higher overnight on renewed hopes that central banks will pause their interest rate hikes after weak economic data. On the domestic front, the Indian equity market rallied on Wednesday with the benchmark Nifty closing above 19,400 level.

Qantas delivered a record annual profit and will return a further $500 million to shareholders, as pressure mounts on the airline to justify its robust profit margins, which exceed pre-pandemic flying levels.

Chandrayaan-3, near the south pole of the moon. The success of India’s third lunar mission makes it only the fourth country to achieve the milestone after the US, Russia and China. As lander Vikram, touched down at the proposed landing site 70 metres near the south pole at 6.04 pm, it marked the culmination of the work of decades by the Indian Space Research Organisation (ISRO), evoking awe and winning plaudits from an array of global and local admirers. “India is on the Moon,” said chairman S Somanath to the sound of resounding cheers that erupted at the Mission Operations Complex (MOX) at Isro’s Telemetry Tracking and Command Network (ISTRAC) in Bengaluru. Terming the moment as “unforgettable,” Prime Minister Narendra Modi, who viewed the landing live from Johannesburg, said, “When we see such a history being made before our eyes, life becomes blessed. Such historical events become the eternal consciousness of a nation’s life.” Noting that India will soon launch the Aditya L1 mission, the prime minister said, “Even the Sun is not far away.” Speaking to the reporters after the monumental achievement, the ISRO chief attributed the success of Chandrayaan-3 to project director P Veeramuthuvel and mission directors M Srikanth and Kalpana K, and M Sankaran, director of the UR Rao Satellite Centre in Bengaluru. As soon as the landing was confirmed, MOX erupted in cheers, handshakes, and smiles.

infrastructure and services firms, have stepped up plans for overseas borrowing as rising local interest rates make that route of funding cheaper regardless of currency risks. Barring recent volatility, the rupee was relatively stable in the first half of 2023 against the dollar. External Commercial Borrowing (ECB) registrations registered a five-fold year-on-year jump during April-June to $21.0 billion, Reserve Bank of India (RBI) economists said in the central bank's August Bulletin. «Since interest rates have also been going up in India, companies that are borrowing are finding an advantage and more importantly since one expects the rupee to be largely stable, the forex risk — which is normally a major component of any overseas borrowing — seems to be on the lower side,» said Madan Sabnavis, chief economist at Bank of Baroda. On a net basis, ECB inflows of $14.5 billion were recorded in April-June, far exceeding the net inflows of $4.0 billion a year ago. According to the RBI authors, large corporations supplemented their local sources of financing with foreign funding.

Scooter Braun is one of the most recognizable names in the music business for his singular work as an executive and entrepreneur

Hundreds of people have been charged with the theft of more than $830 million in COVID-19 emergency aid following a nationwide operation conducted by federal, state and local law enforcement agencies, the U.S. Justice Department announced Wednesday

A federal judge has ordered Mississippi’s largest electric utility to turn over information on customers in and around the capital city who might be using water without paying for it

Known as the Zorro Ranch, a high-desert property once owned by disgraced financier Jeffrey Epstein has been sold after two years on the market

China's economic challenges have given rise to deflationary pressures that present a global concern and are likely to accelerate in the coming quarters, according to economists.

Qantas chief executive Alan Joyce has been summoned to Canberra to appear before a parliamentary cost of living inquiry, as pressure mounts on the national carrier about competition in domestic and international aviation.

Nvidia shares rallied almost 3% on Wednesday as traders bet the chip designer will deliver a strong outlook after the bell and boost the US stock market as it reaps the benefits of early investments in artificial intelligence. Nvidia's shares have more than tripled this year, with the chipmaker at the center of a Wall Street technology rally fueled by optimism about the potential of AI. Its stock market value of $1.16 trillion makes Nvidia the world's most valuable chipmaker by far, more than double the value of TSMC, the world's second most valuable chip company. Nvidia's shares briefly hit a record high in the previous session. «It's not often that the fate of the market rests in the hands of just one stock, but it very much feels like that is what's going on at the moment,» said JJ Kinahan, chief executive officer of IG North America. Retail investors made net purchases of $186 million in Nvidia shares over the past week, JPMorgan said in a report on Wednesday. Nvidia dominates the market for high-end processors designed for AI computing, and its stellar outlook in the previous quarter sent its shares soaring over 20% and ignited a rally in the S&P 500 technology sector, which surged 8% in the five sessions after its results. Options data showed the stock could swing nearly 11% by Friday, larger than the 8.6% average move in either direction seen a day after Nvidia's results over the last eight quarters. Nvidia is part of the so-called Magnificent Seven group of megacap stocks including Apple and Tesla that have powered the S&P 500's nearly 16% recovery this year. Bullish investors are betting a strong report and forecast from the company will revive a US stocks rally that has paused in recent weeks.

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South Korea and China saying the consequent lowering of prices is hurting local producers. Imports of steel products from China surged during the first quarter of this financial year, even as South Korea remained the highest steel exporter to India despite a year-on-year decline in shipments. «A sharp rise in imports of finished steel was recorded in the first quarter of the current financial year. The surge in imports, driven by countries with free trade agreements, as well as China, is eating into domestic demand,» Ranjan Dhar, chief marketing officer, ArcelorMittal Nippon Steel, told ET. Imports of steel products in April-June stood at 2.23 million tonnes, 31% more than 1.70 mt a year ago.

Tata Motors on alleged abuse of dominant position with respect to agreements with its authorised dealers. For the case, the market for the manufacture and sale of commercial vehicles in India was considered as the relevant one. The complaint was filed against Tata Motors, Tata Capital Financial Services and Tata Motors Finance. In May 2021, the regulator ordered the Director General (DG) to carry out a detailed probe into the allegations.

After Bruce Pearl discovered Lake Martin in east-central Alabama, he dreamed about owning a piece of property along its shoreline. Pearl, who has been head coach of Auburn University’s men’s basketball team for roughly a decade, began visiting the lake in 2014 on the recommendation of a friend. In 2019, after he coached his team to the NCAA Men’s Final Four , a bump in pay allowed Pearl, now 63, to build his family a vacation home on the lake.

NEW DELHI : Amid rising demand, the Union ministry of power on Wednesday directed imported coal-based (ICB) power plants to operate at full capacity till the end of October.The original directive on this was issued in February when ICB plants were asked to run at full capacity till 15 June. This was extended till September.

climate change in those hotter years, “you get really intense conditions," White said. The long stretches of warm weather are affecting everything from food production to everyday activities. Farmers in Italy are growing mangoes, bananas and other tropical fruits.

OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, agreed a broad deal in early June to curtail supplies until the end of 2024. Saudi Arabia at the time announced the additional voluntary cut which brought its oil production to a multi-year low of 9 million bpd. Earlier this month, Riyadh extended the voluntary cut into September, with the energy ministry saying that it could be «extended, or extended and deepened». «We think Saudi Arabia will extend the cut in full at least through October,» Richard Bronze, analyst at consultancy Energy Aspects said. «The kingdom is adopting a cautious approach after the weakness in oil markets over the first half of the year and will want to see global inventories significantly decline before starting to unwind the additional voluntary cuts,» he added. The Saudi energy ministry did not immediately respond to a request for comment. Brent oil prices in July were up 14% on the previous month, the biggest monthly increase since January 2022.