Country Financial News

₹33 to ₹166 – a square foot per month, which is the lowest among world's leading markets, as per a report released by real estate consultancy group Vestian. In contrast, the monthly average rent in New York, London, Miami, Seattle and Boston is $40-80 per sq ft, and in Hong Kong, Singapore and Shanghai, it is in the range of $3-8 per sq ft a month, according to the data compiled by Vestian. Among the seven Indian cities – New Delhi, Mumbai, Kolkata, Chennai, Pune, Hyderabad and Bengaluru – the highest average office rentals were observed in Mumbai, the country's financial hub, where it ranges from $1-2.

‘Big Billion Days’ sale. In the ad which is now unavailable on Flipkart's YouTube channel, Bachchan was reportedly heard as saying that the mobile deals offered by the e-commerce portal are not available at the retail outlets. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! "This advertisement is unjust, unethical, and misguiding customers solely for your benefits, thereby causing significant harm to the business of local shopkeepers," CAIT said.

Finance Minister Nirmala Sitharaman, apex exporters' body Federation of Indian Export Organisations (FIEO) requested for the extension of Emergency Credit Linked Guarantee Scheme (ECLGS) till March 31, 2024 and restoration of interest subsidy benefit of 5 per cent to manufacturer MSMEs. It said some of the MSME sectors are affected due to a dip in exports on account of a global demand slowdown. FIEO has urged extending the ECLGS «till March 31, 2024» as it will help micro, small and medium enterprises sail through this difficult time and bounce back when the situation improves.

Singapore, Australia, France, and Sweden are witnessing an increasing volume of score reports from Indian TOEFL test takers and emerging as new destinations of interest, according to the Educational Testing Service (ETS). The top two destinations for TOEFL test takers in India since 2017 have been the United States and Canada. Till 2019, Germany was at the third spot and the UK at the fourth spot. However, from 2020 onwards, the two countries have switched positions. «While the top five countries chosen by Indian TOEFL test takers have remained nearly consistent over the last 5-6 years. Apart from the top destination countries, emerging countries for Indian test takers include Singapore, Australia, France, and Sweden. These countries have seen an increasing volume of score reports from Indian test takers,» Sachin Jain, the Country Manager of ETS India and South Asia, told PTI. The Princeton-based ETS, which conducts the Test of English as a Foreign Language (TOEFL) and Graduate Record Examination (GRE), said the trend reflects shifting aspirations of people.

Chhattisgarh and Telangana on Tuesday to launch a slew of development projects in the two poll-bound states. The Prime Minister's Office said Modi will inaugurate and lay the foundation stone of multiple development projects worth more than Rs 26,000 crore from Jagdalpur in Chhattisgarh and more than Rs 8,000 crore from Nizamabad in Telangana. In a step that will provide a major impetus to the vision of 'Atmanirbhar Bharat', the statement said, Modi will dedicate to the nation the NMDC Steel Ltd's steel plant at Nagarnar in Bastar district.

‘14-minute cleaning miracle’, the practice is to be followed in all the Vande Bharat trains plying across the country. Union Minister of State Rajeev Chandrasekhar, while posting the video on his X account, said the initiative is a “brilliant showcase" of the Centre's flagship Swachh Bharat Abhiyan or the Clean India campaign. “Kudos to hardwork and dedication of Vande Veers – the team of Railway staff who carried out the task (sic)," he added.

An official Chinese survey says the country's factory activity has recorded its first expansion in six months

Ukraine has hosted an international defense industry conference as part of a government effort to ramp up weapons production within the country to repel Russia’s full-scale invasion

Demand for critical minerals like nickel and cobalt is surging as climate change hastens a transition to renewable energy, boosting carbon emissions by miners and processors of such materials

The new head of the U.N.’s migration agency says the private sector is “desperate” for their countries to take in migrants to mop up labor shortages, especially in the West

Army Chief Gen Manoj Pande on Monday began a four-day visit to Tanzania with a focus on building a stronger military partnership between the two countries. Gen Pande is scheduled to meet the top civil and military brass of the east African country including President Samia Suluhu Hassan and Defence Minister Stergomena Lawrence Tax, officials said. «This visit of the Chief of Army Staff further consolidates the high-level bilateral defence engagements and close defence ties shared between India and Tanzania,» the Army said.

MOSCOW (Reuters) — The Kremlin said on Monday it believed a decision by U.S. Congress to pass a stopgap funding bill that omitted aid for Ukraine was a temporary setback for Kyiv, but forecast war fatigue in the West would grow and increasingly split opinion.

Investing.com -- Futures faltered on Monday, paring back some earlier gains, after last-minute negotiations between lawmakers on Capitol Hill over the weekend led to a surprise short-term funding deal that averted a U.S. government shutdown. Elsewhere, UAW workers and Mack Trucks forge an agreement to avoid a strike, while the World Bank cuts its growth forecast for China's economy next year.

By Paul Carsten

After a near 30% run-up in just three months, oil bulls are counting on OPEC to sprinkle a little more magic dust on the market. 

By Olena Harmash

The third quarter was a story of dashed hopes in emerging markets, with the unraveling of some of the most profitable trades in the asset class.

81.9 percent of the population are Hindus and 17.7 percent Muslims. The report, released by the Nitish Kumar-led government, has evoked widespread political reactions, with the Bharatiya Janata Party (BJP) and its NDA allies describing it as an “eye-wash" and “divisive tactic", whereas, the members of INDIA coalition called it “historic" and demanded the release of a pan-India caste census report. Here are the top reactions: “Lalu Prasad Yadav and Nitish Kumar play caste-based politics.

Sanjeev Sanyal, a Member of the Economic Advisory Council to the Prime Minister, while speaking at the Africa Partnership Conference in Mauritius, emphasised on the importance of having clear Environmental, Social & Governance (ESG) norms. The two-day Africa Partnership Conference envisaged to spur cross-boundary collaboration, which kicked off in Mauritius on October 2, will be an ideal platform for Indian stakeholders to pursue wider bilateral trade and strategic goals. Sanyal in his address, stressed that ESG norms would soon have a significant impact on various aspects of our global landscape. While the term ESG is widely recognized, precise norms have yet to be established. Currently, ESG norms are being defined by various ad hoc groups and NGOs.

Pakistan's inflation rate clocked in at 31.4% year-on-year in September, rising from 27.4% in August, statistics bureau data showed on Monday, as the nation reels from high fuel and energy prices. The country is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan programme approved by the International Monetary Fund in July averted a sovereign debt default, but with conditions that complicated efforts to rein in inflation. On a month-on-month basis, inflation climbed 2% in September, compared to an increase of 1.7% in August Reforms required by the IMF bailout, including an easing of import restrictions and a demand that subsidies be removed, have already fuelled annual inflation, which rose to a record 38.0% in May. Interest rates have also risen to their highest at 22%, and the rupee hit all-time lows in August before recovering in September to become the best performing currency following a clampdown by authorities on unregulated FX trade. On Friday, the ministry of finance said in its monthly report that it anticipated inflation remaining high in the coming month, hovering around 29-31% due to an upward adjustment in energy tariffs and a major increase in fuel prices. The report added that inflation was, however, expected to ease, especially from the second half of the current fiscal year that starts on Jan. 1. On Saturday Pakistan cut petrol and diesel prices from a record high, after two consecutive hikes.

Bihar Government released caste survey data, Chief Minister Nitish Kumar congratulated the entire team engaged in the work of caste-based enumeration stating that the survey not only revealed the castes but also gave information about the economic condition of everyone. The Bihar government released caste survey data, with the figures that have ramifications for the Lok Sabha polls next year, showing that Other Backward Caste (OBC) and Extremely Backward Class (EBC) together account for 63 per cent of the state's population. «Today, on the auspicious occasion of Gandhi Jayanti, the data of the caste-based census conducted in Bihar has been published.