Aware Financial News

Financial Times. As per data analyzed for the FT by the Kyiv School of Economics, the four biggest banks in China have quadrupled their exposure to Russia's banking sector since the war in the Ukraine region, Bloomberg reported.

Ukraine President Volodymyr Zelenskyy said Sunday that defense minister Oleksii Reznikov will be replaced this week with Rustem Umerov, a Crimean Tatar lawmaker. Zelenskyy made the announcement on his official Telegram account, writing that new leadership was needed after Reznikov went through «more than 550 days of full-scale war.» Later in his nightly address, Zelenskyy said he believes «that the Ministry needs new approaches and different formats of interaction both with the military and with society.» «The Verkhovna Rada (parliament) of Ukraine is well acquainted with this person, and Umerov does not require additional introductions. I expect support for this candidacy from parliament,» the president told the nation. Umerov, 41, a politician with the opposition Holos party, has served as head of the State Property Fund of Ukraine since September 2022. He was involved in the exchange of prisoners of war, political prisoners, children and civilians, as well as the evacuation of civilians from occupied territories. Umerov was also part of the Ukrainian delegation in negotiations with Russia over the U.N.-backed grain deal.

economic crisis. But many children do not have classrooms to go to in a country where many educational facilities have been damaged or destroyed and 90 percent of people live under the poverty line according to the United Nations. Syria's education ministry on Saturday called on schools «not to enforce strict school uniforms (...) and to reduce the necessary supplies» for students, the SANA state news agency reported. These measures were introduced «in light of the difficult economic conditions facing the country and as part of an effort to reduce the financial burden on the population,» SANA said. «More than 3.7 million students are starting the 2023-2024 academic year, spread across 14,505 schools,» added the outlet.

Lenders to the debt-laden textile company Sumeet Industries are in negotiations with the Gujarat-based Gajera Group to improve its offer after its initial bid to take over the company was bettered by Geelon Industries, three people familiar with the matter said.Banks are seeking more than ₹250 crore for the company in an all-cash deal, higher than the ₹221 crore offered by Geelon, these people said. Sumeet has been classified as a non-performing account (NPA) with banks for more than three years. It owes lenders led by the Bank of Baroda (BoB) more than ₹900 crore including about ₹530 crore in principal.

NEW DELHI, MUMBAI : Owners of three Indian Premier League (IPL) teams have approached the Board of Control for Cricket in India (BCCI) regarding their capital raising plans, three people aware of the matter said. While KPH Dreams Cricket Pvt. Ltd (Kings Xi Punjab) and JSW GMR Cricket Pvt.

Narendra Modi is expected to focus on safeguarding territorial integrity and freedom of navigation in the Indo-Pacific region during his September 6-7 Jakarta visit for the Asean Summit and East Asia Summit (EAS), in the backdrop of China's 'new standard map'. Besides India, several Southeast Asian nations, including Malaysia, Philippines, Vietnam and Indonesia, have protested China's new map which focuses on the South China Sea region, Arunachal Pradesh and Aksai Chin. India had lodged a strong protest with China. The PM is expected to send a message that territorial integrity of Indo-Pacific states must be safeguarded and pitch for inclusive nature of India's Indo-Pacific policy amid China's aggressive designs in the region, said people aware of the matter. India's steadfast commitment to freedom of navigation through the South China Sea region, where tensions have been building up, will also be in focus, said the people. The PM will also highlight India's agenda for the global south, with the Asean Summit taking place on the eve of G20 Summit in New Delhi. In June, the PM had addressed a gathering at the G20 development ministers' meeting in Varanasi and stated that «development is a core issue for the global south». «The countries of the global south were at the receiving end of the Covid pandemic.

NEW DELHI : The union ministry of power is likely to ask for a cut in the goods and services tax on components used in hydropower projects. The ministry may seek a cut in components like turbines, steel and cement which are in the higher slabs, two people aware of the matter said. The suggestions were discussed in a recent meeting at the ministry and may be taken up with the finance ministry, they said.

(This story originally appeared in on Sep 03, 2023)

Prime Minister: For a long time in world history, India was one of the top economies of the world. Later, due to the impact of colonization of various kinds, our global footprint was reduced. But now, India is again on the rise.

Singh Surjewala on Sunday alleged Madhya Pradesh Chief Minister Shivraj Singh Chouhan has gone into «panic mode» ahead of the assembly elections and making a slew of announcements by mortgaging state properties. «Shivraj Singh is in panic mode.

Pat Cummins has been called it. So have King Charles and Pope Francis. Florida governor Ron De Santis has made it the centrepiece of his campaign for president. It also follows around everyone involved in the Yes campaign for the Voice.

Union Law Ministry on Sunday held a preparatory briefing for former president Ram Nath Kovind who heads the high-level committee to examine and make recommendations for holding simultaneous polls to the Lok Sabha, state assemblies and local bodies.

Four mainstream Australian insurers say they avoid deliberately inflating premiums for customers predicted to be more likely to tolerate higher price renewals, contrasting with allegations levelled against major provider IAG.

H D Kumaraswamy, who has recovered from a stroke due to timely treatment, said on Sunday that this was his «third birth». Giving credit to God and the team of doctors who treated him, the JD(S) second-in-command said he got a new lease of life to be amidst the people of the state. Before being discharged, Kumaraswamy also appealed to the people not to take the symptoms of stroke and paralysis lightly. «For the past five days, some of my friends were in fear.

Debt crisis is a matter of great concern for the world, especially developing countries, Prime Minister Narendra Modi has said, as India looks at building consensus at the upcoming G20 summit to evolve a tangible framework to help the debt-ridden low income economies. In an exclusive interview to PTI late last week, Modi said India's G20 presidency has placed a significant emphasis on addressing the global challenges posed by debt vulnerabilities, especially for nations in the Global South. «The debt crisis is indeed a matter of great concern for the world, especially developing countries. Citizens from different countries are keenly following the decisions being taken by governments in this regard. There are some appreciable results too,» Modi said. «First, countries that are going through debt crisis or have gone through it, have begun to give greater importance to financial discipline,» Modi said. «Second, others who have seen some countries facing tough times due to the debt crisis are conscious of avoiding the same missteps,» Modi said. Under its G20 presidency, India has been consistently highlighting the need for a framework on debt restructuring to help countries facing mounting debt problems.

sustainability and brand connect, founders of D2C and new-age companies feel their stories convince consumers for repeat purchases, but others feel that it is the product which convinces the consumer, because it solves a problem for them. Shark tank fame oral care brand Perfora's founder Jatan Bawa said that people buy into the narrative of a young brand which is challenging the status quo, unlike legacy brands whose founders or brand building story is not well-known.

HS Prannoy had lost a gut-wrenching final at the Australian Open last month and was out for dinner with his team. But his mind was still on the court at the State Sports Centre in Sydney. “I don’t really want to force myself to get over this immediately. Sometimes the sadness or the disappointment is also important,” Prannoy told this writer. “At 19-14, I should have won it. Maybe I will do so at bigger stages, when I won’t make the same mistake again,” he added. At a career-high ranking of world No. 6, Prannoy can justly think of the bigger stages. He has now beaten everyone on the circuit and is perhaps the only player who has pushed Viktor Axelsen each time he has played him in the last few months. From suffering from the Gastroesophageal reflux disease (GERD) and finding it difficult to breathe to making it into the top six of the world badminton, Prannoy is a story of resilience and courage. A day after Prannoy won the bronze medal at the World Championships in Denmark last week, national chief coach Pullela Gopichand put it in context. “This has to rank as one of the greatest victories of his career. Just think of the context. Viktor at home in front of buoyant Danish fans. He had lost to Viktor twice in the last two months and the last loss was when he was in a winning position. Such losses scar you mentally. And here he was a game down. To win from there against the best player in the world is something Prannoy should forever be proud of,” Gopi said.

Canada has extended a popular Covid relief measure for international students, allowing them to work in the country after graduation, even if they haven't completed their studies in the country. The Immigration Refugees and Citizenship Canada (IRCC) has extended the distance learning measures initially put in place during the COVID-19 pandemic. These measures have significant implications for international students seeking a Post-Graduation Work Permit (PGWP). Under the extended guidelines, students who completed less than 50% of their PGWP-eligible studies outside of Canada will remain eligible for a Post-Graduation Work Permit (PGWP) until December 31, 2023. Before the pandemic, international students were required to ensure that no more than 50% of their studies were conducted online, and any time spent studying online outside of Canada did not count towards their PGWP eligibility. However, due to the restrictions on international travel brought about by the pandemic, IRCC had temporarily removed the online study restrictions for certain students. These students fall into two categories:

Congress Party founder YS Sharmila on Saturday said her discussions with Congress party on working together or a possible «merger» have come to a final stage. Sharmila had held talks with Congress leaders Sonia Gandhi and Rahul Gandhi in the national capital, amid speculation about YSRTP's merger with the grand old party. «Prolonged discussions were held (between Sharmila and Gandhis).