Cooper Financial News

Reserve Bank of India is in advanced talks with the European Securities and Markets Authority (ESMA) on the tussle surrounding oversight of the Clearing Corporation of India (CCIL) even as discussions with other overseas authorities on the issue have progressed far more smoothly. «Conversations regarding MoUs (Memorandum of Understanding) are going on regularly with the ESMA. The others (other global regulators) have taken a much more relaxed stance.

NEW DELHI : The government has invited Swiss consultants to help make India’s mountain roads strong and durable to withstand severe weather conditions like heavy rains. After evaluating the highway construction techniques in Switzerland, the ministry of road transport and highways (MoRTH) has sought advice from Swiss companies to design mechanisms to prevent extensive damage to roads, two people familiar with the development said.

free trade agreement (FTA) talks with India are «progressing» and Britain will only agree to a pact that works for the whole of the United Kingdom, British Prime Minister Rishi Sunak told his ministers at a Cabinet meeting in London on Tuesday. Ahead of his first visit to India as UK Prime Minister to attend the G20 World Leaders' Summit in New Delhi later this week, Sunak updated his top team on the ongoing trade talks which have completed 12 rounds of negotiations. The British Indian leader described India as an «indispensable partner» of the UK across all spheres of bilateral cooperation, which he is keen to strengthen further. «He said negotiations around a free trade deal were progressing and that he would only agree an approach which worked for the whole of the UK,» notes a Downing Street readout of the Cabinet meeting. «The Prime Minister said India was an indispensable partner of the UK, both economically and in addressing the global challenges all democracies are facing.

private investment as a result of intimidation by the ruling party; and a commitment to state capitalism that hampers total factor productivity growth. Chinese domestic consumption has weakened, owing to uncertainty and the lack of a broad social safety net. With deflation setting in, China now must worry about Japanification: a long period of lost growth.

MUMBAI : Global cooperation is essential to tackle cryptocurrencies and other threats emanating from the cyber space, finance minister Nirmala Sitharaman said on Tuesday, outlining a topic that is set to be a key Indian focus at a Group of 20 summit in New Delhi this weekend. “As much as you build firewalls, there are more and more newer ways in which attacks are being made. Crypto (is a) threat as well as an opportunity," Sitharaman said at a Global Fintech Fest here.

By Luc Cohen

judicial capabilities. The 10th meeting of the Ministers of Law and Justice of SCO countries was held on Tuesday via video conferencing. The meeting began in a «cordial atmosphere» with the reading out of a message from Chinese President Xi Jinping. In his message, President Xi appealed to the members to work with a spirit of cooperation and understanding so as to realise the objectives and visions of the SCO and optimise its contribution towards the holistic development of the region, a law ministry statement said here. Speaking on the occasion, Law Minister Arjun Ram Meghwal emphasised India's commitment to the SCO charter and its principles of mutual trust, respect for sovereignty and territorial integrity, and mutual benefit. The minister said this commitment is based on Prime Minister Narendra Modi's vision that «India has emerged as Vishwa Mitra (universal friend) and India's greatest strength is trust, our trust in each individual, trust of each individual in government, trust of each one in a bright future for the nation, and world's faith in India as well.

Urals oil loaded from the state's ports in August, despite a record rise in prices for the grade, traders, LSEG data and Reuters calculations showed.Indian refineries said in August that the Urals discount to the dated Brent benchmark crude had narrowed too much, making them cut purchases of the grade in September. Discounts for Urals oil loading in August narrowed to $5 per barrel and below on a DES (delivered ex ship) basis in Indian ports — a record low since a European Union embargo on Russia's oil. Along with the EU embargo, the G7, the European Union and Australia imposed a $60 per barrel price cap last December on sea-borne exports of Russian crude in retaliation for Russia's war on Ukraine, which Moscow calls a special military operation. The increase in prices for the Russian grade was due to Russia's pledge to cut oil exports in August by 500,000 barrels per day (bpd) in cooperation with OPEC+ to balance oil markets.

Article 1 of the Constitution which sets the tone for the entire constitutional framework starts with both 'India' and 'Bharat.' The particular article is considered as the foundational provision that establishes the Union of India. Conversations regarding the name change has started because of reports claiming that Narendra Modi-led government is expected to bring a resolution for changing India's official name to 'Bharat' during the special session of Parliament, scheduled from September 18-22What is Article 1?

Global Fintech Fest 2023: Union Finance Minister Nirmala Sitharaman said on Tuesday that India’s financial ecosystem has made a giant stride. Delivering the inaugural address of Global Fintech Fest 2023 in Mumbai, FM said, “There was a time when conventional financial activities were the backbone of the financial ecosystem but today Fintech has become a more robust and dynamic financial inclusion tool." 

After several income taxpayers received notices for wrongly claiming income tax deductions under Section 80 P, the Income Tax Department (ITD) clarified that they were sent to them by mistake. The ITD added that «an email communication regarding this will be sent to you shortly».

Hyderabad, India, organized by the Department of Agricultural Research and Education (DARE), Ministry of Agriculture and Farmers Welfare. This three-day workshop aims to facilitate discussions on climate change challenges and foster international cooperation to enhance countries' abilities to address these climate-related agricultural issues. The inaugural session of the workshop saw the participation of Shobha Karandlaje, Minister of State for Agriculture and Farmers Welfare. The first day of the event focused on "Climate Resilient Agriculture Research Needs and Innovations," where experts from various countries shared their experiences and insights regarding achieving agricultural resilience. They also highlighted the scientific and innovative solutions required to tackle emerging challenges and reduce uncertainties in agricultural food systems, read the Ministry of Agriculture and Farmers Welfare press release. The workshop has drawn participants from G20 member states, guest-invited countries, and international organizations, along with senior officials from the Ministry of Agriculture and other relevant ministries. Agriculture, being one of the most climate-sensitive sectors, is significantly impacted by climate change, which is already affecting G20 nations.

Reuters, the uncompromising positions on the conflict have resulted in a lack of consensus, to the extent that not even a single joint statement has been reached in the approximately 20 ministerial meetings held under India's G20 presidency this year. Consequently, it falls upon the leaders to navigate these challenges and attempt to find potential solutions.

G20 Summit, scheduled to commence in India's capital, New Delhi, on September 9. This marks the first occasion that India plays host to this formidable assembly of global leaders.

NEW DELHI : Spain’s ambassador to India, Jose Maria Ridao Dominguez, expressed his country’s desire to become a permanent member of G20. Spain, the world’s 15th largest economy, is currently a permanent invitee to the grouping. In an interview, Dominguez also called on India to take a more assertive stance on global issues like the Ukraine war and commented on China’s new standard map that makes extensive territorial claims.

On August 21, 2023, the Securities and Exchange Commission (SEC)  announced   that it has levied charges against «Titan Global Capital Management USA LLC», a New York-based FinTech investment adviser. The charges stem from Titan's use of «hypothetical performance metrics» in advertisements that the SEC deemed misleading.

Japanese Prime Minister Fumio Kishida has announced a $141 million emergency fund to help exporters hit by a ban on Japanese seafood imposed by China in response to the release of treated radioactive wastewater from the damaged Fukushima nuclear power ...

onion from its buffer stock has been released in the wholesale markets in 12-odd states and Union territories at prevailing rates in the last three weeks to arrest rising retail prices of the key kitchen staple. National Cooperative Consumer's Federation of India Ltd (NCCF) and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) have been mandated to sell buffer onion in wholesale and retail markets.

Jim O'Neill came up with the term ‘BRIC’ (Brazil, Russia, India and China) in 2001, little did he know that the acronym would become the groundwork for an ambitious alliance of the world’s highest-potential large economies. That potential is, in a way, now spreading, even as more nations dare to dream beyond the West’s hegemony. The BRICS bloc was born in 2009 as a response to the changing global economic landscape, aiming to promote cooperation on common challenges.

By Divya Chowdhury