Country Financial News

Satyagraha," continues to inspire generations worldwide.On Gandhi Jayanti, India will commemorate 'Swachh Bharat Diwas' or 'Swachhta Diwas' on Monday. The extensive nationwide effort on Sunday was spearheaded by Prime Minister Narendra Modi, who collaborated with fitness influencer Ankit Baiyanpuriya for a cleanliness initiative.Responding to Modi's call, individuals from diverse backgrounds, including politicians and students, took part in the 'Swachhata hi Seva' campaign.

The Emirati president-designate for the upcoming United Nations COP28 climate conference has offered a full-throated defense of his nation hosting the talks

The White House has pinned the blame for a possible government shutdown on House Republicans who, until Saturday, had been paralyzed by their inability to pass a funding package

A former contractor for the Internal Revenue Service has been charged with leaking tax information to news outlets about thousands of the country’s wealthiest people

Zimbabwe's vice president says the death toll from a shaft collapse at a disused gold mine could rise to 13

When Yared Markos moved to London a quarter century ago, he didn't see any Ethiopian coffee shops

In a remote, dry patch of California farm country, a battle is raging over carrots

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

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

Tata Group, India's biggest conglomerate by market capitalisation, is understood to be considering its options and carefully evaluating whether to bid for UTI Asset Management Company, industry sources told ET, after Mukesh Ambani-owned Jio Financial Services entered the market amid increasing financialisation of savings in a country where real estate and bullion have long been the preferred stores of value. Officials close to the development said the salt-to-software conglomerate is watching the marketplace to assess Jio's future plans and their impact on the competitive dynamics of the pooled-money industry. Financial sector majors view Jio Financial Services as a potentially disruptive player at a time when the Indian mutual fund industry is expected to welcome half a dozen new entrants. Four state-owned financial entities — Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda — together own just over 45% stake in UTI Asset Management Company.

Indian Air Force is firmly on the path of indigenisation, with recent acquisitions resulting in a Rs 70,000 crore boost to the domestic economy, Air Chief Marshal VR Chaudhari told ET, adding that there has been a quantum increase in defence exports as well which will have a positive cascading impact on the economy in the coming years. The Air Force has been on a 'Make in India' drive, with more than 200 locally designed and developed light combat aircraft (LCA) set to be inducted and a range of helicopters, including attack choppers, set to be ordered soon. While 83 LCA Mk1A fighters have already been ordered, the air force has also moved a proposal to add 100 of the variant in an order that is expected to be of the tune of Rs 66,000 crore. The Air Force and Army are also working on inducting 156 'Prachand' light combat helicopters (LCH), at a cost of about Rs 50,000 crore. «Cash outflow to the Indian economy has been approximately Rs 70,000 crore through indigenous purchases.

anti-TB drug Bedaquiline to other countries without the fear of litigation, with multinational pharma giant Johnson & Johnson (J&J) confirming that it will not enforce secondary patents for Bedaquiline in any of the low and middle income countries. «The decision is intended to assure current and future generic manufacturers that they may manufacture and sell high quality generic versions of SIRTURO without a concern that the Company will enforce its bedaquiline patents, provided the generic versions of SIRTURO® produced or supplied by generic manufacturers are of good quality, medically acceptable, and are used only in the 134 low- and middle-income countries,» J&J said in a statement last week.

finance and corporate affairs are at an advanced stage of firming up a much-awaited framework for direct listing of Indian companies abroad, which could be introduced later this financial year, said people with knowledge of the matter. The move would set the stage for unicorns and other entities to have easier access to a larger pool of foreign capital, they said, adding that it could also encourage a greater number of startups, with Indians at the helm, to incorporate within the country instead of jurisdictions like Singapore. Initially, the framework will be used to allow direct listing at the International Financial Services Centre (IFSC) at Gujarat's GIFT City. Subsequently, it will govern listings in other jurisdictions as and when the government decides to allow that, the people told ET. «The capital markets division of the Department of Economic Affairs (DEA) and the Ministry of Corporate Affairs (MCA) are firming up rules that will act as an enabler of the direct listing process.

Canada has banned only Babbar Khalsa International and the International Sikh Youth Federation, though India has several times urged it to ban five other pro-Khalistan groups that operate on foreign soil though proscribed under the Unlawful Activities Prevention Act. Canada's counter terrorism division included BKI and ISYF in the designated terror outfits' list in 2003 and upheld the decision in 2018 even after a review. India has been urging Canada to ban Sikhs For Justice (SFJ), Khalistan Commando Force (KCF), Khalistan Zindabad Force (KZF), Khalistan Tiger Force (KTF) and Khalistan Liberation Force.

migration market was largely geared towards the US EB-5. Now, residence-by-investment migration programmes in the UAE, Singapore, Greece and other European countries are gaining traction to enhance wealth and global mobility. The recently introduced Indian ODI (outward direct investment) regulations — which permit direct investments in international entities, subject to certain conditions — have acted as a catalyst for many wealthy Indian families to explore international investment opportunities, says Sunita Singh-Dalal, partner, private wealth & family offices at Hourani & Partners in the UAE.

Maldives President-elect Mohammed Muizzu may give India a headache in its southern neighbourhood in the backdrop of his pro-China leanings and «India out» campaign. However, the new Maldivian President may not be able to push out India's footprints from the archipelago given the historical development partnership and New Delhi's role as the first responder in a crisis. Muizzu was the proxy candidate for jailed former president Abdullah Yameen and may revive China's footprints in Maldives, according to Maldives watchers.

branded jewellery industry is a case of effective state intervention to correct market imperfection. India was last year the second largest importer of gold, the bulk of it for domestic jewellery consumption. Regulatory requirements of greater transparency by buyers through money laundering legislation and sellers through hallmarking have speeded up the formalisation of the jewellery industry.

Taylor Swift is set to grace the NFL scene once again amid rumors about her relationship with Chiefs' star tight end Travis Kelce. Following her appearance at the Chiefs' Week 3 game in Kansas City's Arrowhead Stadium, Swift is expected to attend the upcoming showdown between the Chiefs and the New York Jets at MetLife Stadium on Sunday night, according to a report by Front Office Sports. The Sunday Night Football game is therefore, generating buzz, especially after the Chiefs' recent game against the Chicago Bears claimed the top spot for the week.

Sikh leaders at a Glasgow gurdwara. This incident comes on the heels of a slow ramping up of activities targeting Indian missions and officials abroad, particularly in Canada, Britain and the US.

NEW DELHI : The credibility of the Canadian government’s allegations made regarding India’s involvement in the killing of a pro-Khalistan leader remains poor, said US India Strategic Partnership Forum (USISPF) CEO Mukesh Aghi. Aghi, who was at the UN General Assembly session, said the noise around Canada’s allegations had largely died down. In an interview, he stated that the US has chosen to remain largely silent on the allegations given its sizeable political and economic interests in India.

NEW DELHI : Online real-money gaming firms, and lawyers representing multiple companies in this sector, labelled the Centre’s way of implementation of the new goods and services tax (GST) rate on online gaming companies unprecedented. The stakeholders of the sector, which has remained under fire for numerous taxation issues through the year, claimed that the Centre’s notification of the new online gaming GST regime—done before all states have fully adopted it—could be used as a precedent for breaking the “one nation, one tax" format of GST going forward, and is also in contravention of the law.