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India has got a lot of things right,World Bank president Ajay Banga said in an interview with ET, adding that he’s more optimistic about the country economically than he was 20-30 years ago. Banga, who was in Delhi for the G20 summit, spoke about the changing vision of the World Bank, climate finance, the Delhi Declaration consensus and India's trajectory.Edited excerpts:How do you view the outcome of the G20 summit? I think the fact that the leaders all came together showed the willingness to compromise on different parts of a declaration, and brought a way to put it together, was pretty good. And I think a few days ago, nobody would have given any chance for that to come together.

The Western Australian tourism minister wants new Qantas boss Vanessa Hudson to sort out a long-running dispute with Perth Airport over when the airline’s flights will move to a new central terminal.

A new “big eight” of superannuation funds will dominate the $3.5 trillion retirement savings system by uniting under a soon-to-be announced policy and lobby group that will court both sides of politics.

If a developer constructs a commercial building and sells it before obtaining an occupancy certificate, they may be eligible to claim credit, provided they pay the output GST on the sale transaction. However, if the developer uses the building for leasing, such an ITC is not available for set-off. «This impacts the overall business as this increases the cost of construction, thereby increasing rentals. Multiple representations have been sent to the government, but developers have yet to get any relief.

G20 summit was a blockbuster — no two ways about it. India managed to forge consensus, produce a clean communique, announce a mega connectivity project linking different worlds and welcome the African Union (AU) as a new member. Broad message to those creating an alternate order: the wait time got longer. G20 as a group of both rich and developing countries, established and emerging markets, can work together when it wants to, and listen and learn when it wants to — especially when the wolf is at the door.

What will be the tax applicability and the conversion rates if an Indian resident sells his shares that are listed on the US stock exchange? Can the resident gets both conversion and indexation benefit on such a sale? —Name withheld on request It is assumed that the person selling the shares qualifies as a Resident and Ordinarily Resident in India. Any gains or loss arising from transfer of the shares is chargeable to tax as capital gain or capital loss.

The Hindi word badla conjures different meanings for most people. But for old-time punters, it opens up a magical world of stock market trades that existed prior to 1993. And, it also shines the spotlight on the 1992 stock market scam perpetrated by ‘Big Bull’ Harshad Mehta. Before the arrival of electronic trading at BSE, badla denoted the positions carried forward by traders at the end of the day based on borrowed money (vyaaj badla) or shares (share badla). This was the only way investors could take leveraged positions or short-sell stocks back in the day. Badla was banned in 1993.

Black Sea grain deal that excludes Russia will not be sustainable. «A process for the grain issue that excludes Russia is unlikely to be sustainable,» Erdogan said at a press meet after the G-20 summit in India. This July, Moscow suspended its participation in the Black Sea grain deal, brokered by Türkiye and the UN, to resume grain exports from three Ukrainian Black Sea ports that were paused after the Ukraine war in February 2022. Moscow has complained that the West failed to meet its obligations on Russian grain exports and that not enough Ukrainian grain was going to countries in need. It says restrictions on payments, logistics, and insurance have stood in the way of its shipments. Türkiye says the deal should be resumed by addressing deficiencies, and there is no alternative as other proposals have failed to offer a «sustainable, secure and lasting» model. «We are making intense efforts to end the Russia-Ukraine war, which has cost hundreds of thousands of lives.

Amid the US debate over student loans—President Joe Biden’s administration tried and failed to forgive some of the debt, which starts accruing interest this month after a three-year pause—a crucial question has often been overlooked: Who benefits the most from student loans? It’s not necessarily students. The main beneficiaries are colleges and other accredited post-secondary educational institutions, which receive the loans as transfers from the federal government via student borrowers. There are few strings attached.

G20 Summit here congratulated Prime Minister Narendra Modi on the success of Chandrayaan-3, with IMF Managing Director Kristalina Georgieva hailing India for achieving the feat «in a budget less than that of the movie Interstellar», according to sources. During various sessions and meetings of the G20, many world leaders showered praise on India for its lunar mission and also lauded the successful launch of Aditya L1, India's first space-based mission to study the Sun. While the British Prime Minister Rishi Sunak congratulated India and the entire world for Chandrayaan-3, South African President Cyril Ramaphosa hailed the country for the feat and recalled that he had watched a telecast of the lunar landing while taking a break during the BRICS meeting, sources said. «I congratulate you on the Moon landing.

Chevron will seek an enforced arbitration with unions at its two huge Western Australian LNG plants after tense negotiations collapsed, claiming weeks of escalating strikes pose a threat to the state’s gas supply.

Narendra Modi welcomed world leaders to the Raj Ghat memorial complex in central Delhi on Sunday, site of the eternal flame that burns for Mahatma Gandhi. Symbolism is hard to escape in the so-called family photograph. It’s a G-20 tradition that offers a rare, unvarnished glimpse of the interaction between leaders — the warmth or chill of greetings, the backslapping, side chats, scowls or moments of awkwardness — and so points to the state of world relations.Also Read: G20 Summit 2023 LIVE: We are always there to push back against hatred, says Trudeau on Khalistani issue Absent from this year’s lineup were China’s President Xi Jinping and Russia’s Vladimir Putin, both of whom skipped the summit amid tensions with the US and its allies.

Sri Lanka Cricket slashed ticket prices for the Asia Cup by up to 95 percent on Sunday after costs were hiked 40-fold and matches were played in near-empty stadiums. Tickets for one-day internationals in crisis-hit Sri Lanka have generally cost around 250 rupees ($0.78) previously. That was hiked to 10,000 rupees for the Asia Cup, which is being organised by the Pakistan Cricket Board despite largely taking place in Sri Lanka, and fans in the cricket-mad island country have stayed away in droves. Barely 7,000 home supporters turned out for Sri Lanka's Super Four clash against Bangladesh on Saturday at the 35,000-capacity R. Premadasa Stadium in Colombo, leaving the hosts facing the embarrassing sight of ranks of empty seats. In an attempt to lure them, back Sri Lanka Cricket announced a price cut of up to 95 percent Sunday for all remaining Super Four games, including the day's marquee clash between arch-rivals India and Pakistan, with tickets now costing as little as 500 rupees.

Rahul Gandhi said during an interaction with students and academics in Paris, adding that ruling party is out to get power at any cost, the PTI reported Sunday. “I have read Gita, I've read a number of the Upanishads, I've read many Hindu books; there is nothing Hindu about what the BJP does, absolutely nothing," the PTI quoted the Congress leader as saying, in response to a question about the rise of “Hindu nationalism" in India. "I have not read anywhere, in no Hindu book, from no learned Hindu person have I ever heard that you should terrorise, harm people who are weaker than you.

Railway Board chairperson Jaya Verma Sinha has asked all employees to work on five key priorities — safety, integrity, capacity augmentation, revenue generation, and customer amenities and experience. Calling these five priorities as "Indian Railways' Panch Pran", Sinha, in her first written communication to employees after taking charge as Chairperson and CEO of the Railway Board on September 1, said that the national transporter has a rich and enduring legacy spanning more than 150 years. «In recent years, we have embarked on a transformative journey marked by unprecedented investments in tracks, rolling stock, stations and terminals,» Sinha wrote. Noting that safety is paramount, she said, «We must recognise that every accident can be prevented, and it is incumbent upon us to ensure strict adherence to established safety protocols.

About 146,000 U.S. auto workers are set to go on strike this week if General Motors, Ford and Stellantis fail to meet their demands for big pay raises and the restoration of concessions the workers made years ago when the companies were in financial tr...

Novo Nordisk’s operating profit soared 30% year-on-year in the first half of 2023. Both injectables contain the same active ingredient, semaglutide, that tricks the brain into thinking the stomach is full, driving down calorie intake, thereby leading to weight reduction. The drugs have reportedly helped reduce around 12% of body mass on average.

Mumbai: The frictionless credit initiative being piloted by the Reserve Bank is helping lenders slash their customer acquisition cost by a whopping 70 per cent, while for borrowers the saving is 6 per cent of the loan amount, a senior central bank official has said. The pilot started with an all-digital KCC (kisan credit card) lending, developed by the RBI Innovation Hub on the public tech platform, in Tamil Nadu and Madhya Pradesh this April. The pilot has been extended to four more states — Maharashtra, Uttar Pradesh, Karnataka, Gujarat (for dairy farmers) from August 17 this year. The pilot launch of the public tech platform for frictionless credit to farmers has helped reduce operational costs for lenders by more than 70 per cent, while for the farmer, the saving is 6 per cent of the loan amount, Ajay Kumar Choudhary, an executive director and head of the fintech department at the RBI, said here over the weekend while addressing the three-day global fintech festival. Moreover, there is massive savings in opportunity cost, as earlier a farmer had to make six to eight weekly rounds to the bank which has come down to a maximum of 0 minutes now, Choudhary said.

As the cryptocurrency market witnesses unprecedented shifts, Bitcoin's trading volume has notably dropped below the $5 billion mark, raising questions and speculations. As of Sunday, Bitcoin stands at $25,878, reflecting a minor dip of less than 0.10%. Several contributing factors come into play. 

Indian Biogas Association (IBA). Biofuel alliance can be a win-win situation for G20 countries and the environment, IBA said. According to a study by the IBA, the biofuel alliance can generate opportunities worth USD 500 billion in the next three years for G20 countries. The findings of the study assume significance as India is currently hosting the G20 leaders' Summit in New Delhi.Biogas can generate an opportunity of USD 200 billion, considering the least investment required, compared to other energy generation options and easy availability of raw materials, it stated.

Gold prices faced downward pressure throughout the week due to encouraging US economic data, with the upcoming focus on the Consumer Price Index (CPI) developments in the coming week. This resulted in gold experiencing its first weekly decline in three weeks.